PRV is trending to zero. What’s the reason? Is there any plan to revive it?
(Discussion) Why is PRV dropping so much?
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Seems like a bit of FUD if we are being realistic. PRV has been stead around the $0.16 - $0.22 for a while now.
We have Limited Edition pNode auction coming up on the 14th.
We will also have a Twitter giveaway for a Limited Edition pNode. Although, that will be after all the other LE pNodes are auctioned off. The LE pNode for the giveaway will be #8/8.
Monero, Myst, Secret are all trending down today while the main coins are up. My best guess would be people are moving funds to markets that are trending upwards.
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I have to say I agree with @JG20. I don’t think its FUD to point out that PRV has an issue as far as price trending down. All other coins go up and down, as far as I can tell, PRV has been only going down since its high of around $3.30. It seems to stabalize at different points. Was 2.20 at 1 point for a long while, then $2. Then 1.80, then $1, then $.80, and then for a long time in the $.20. However, always trending down… the only time it has jumped up even a little, was when the fee for incognito was raised to .1 PRV, that brought the PRV price from below $.20 to about $.22 for awhile.
I think it is fair to point out, that without some kind of strategy, things are not looking good for PRV price. The growth team needs to take a serious look at their efforts and come up with a new plan to give value back to PRV, otherwise the project will be in trouble. As some point, validators such as myself are going to pull out because there is no value in mining a coin that’s value is constantly trending down. Without validators, the project will collapse.
This is not FUD, I am a big supporter of Incognito and PRV, but without a game plan, everyone invested in this project will be in trouble.
Let’s please hear a legitimate, and concrete plan from the growth team to fix this problem.
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The coin of this project has fixed supply (in fact, it is deflationary anymore) in long term. I know the current supply increases (with negative acceleration) due to mining but this does not affect the long term. There always will be an equilibrium between validators and PRV price. Its price never(*) can be zero. Why? If the price decreases so much, then some validators may pull out their nodes but since the staking cost will decrease, new/other validators will see the opportunity and they will come in. Since the coin has fixed supply, the scarcity of PRV increases block-by-block and eventually will drive up the price.
* Here are the exceptions/risks ordered by importance (probability * fatality):
1- Most important: How long can the devs afford their life by premined coins and/or income coming from the protocol? If there is no funding problem for the devs, this project cannot die 
2- Bridge hack(s). Fatality depends on the hacked amount.
3- The devs may not manage centralized liquidity provide financially. The project may not die but bad reputation and legal issues targeting the devs.
4- Strong international crackdown against the privacy projects.
5- Disk size required to run a node grows so quickly but price cannot catch that speed. This may cause that diamond-hand validators cannot keep break-even position to host the nodes.
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@abduraman well thought out post, however you making an assumption that as the coin price decreases more validators will join. That may or may not be the case, however as I have pointed out, the evidence is clear. PRV value only trends downwards. Currently there has been zero upwards sings more than a few cents here and there in the last couple of years. This is a dangerous trend regardless of how you game-theory it out like you did in your post.
I’m gonna offer an alternate, but positive view…
Most logical people view running validating Infrastructure as a business. Only running the hardware if its profitable.
My perspective is that, even if validating is not profitable, there could be an “investment” reason for validating. Investing ofc depends on ones future perspective… Will earning now (& hodling) be profitable in the future / long run?
Let me add a dimension here…
The latter part of my Handle, CryptoWizard, is a noun, not an adjective. The handle is in fact, 2 opposing concepts in 1 word.
I’ve done energy readings on several crypto projects. Incognito included.
The Incognito reading was particularly interesting bc rather than merely reading the energy (= future possibilities & probabilities), I was sent additional input/info by a “personality”.
I will not share my whole reading here. Some of it is challenging. However Incognito DOES have an IMPORTANT future. More important than we see currently aware of. I don’t know sp details, don’t need to know.
Reading extract…
“Was sent an energy to personally update me that Incognito needs to be worked with (energy upgraded). Their ecosystem is needed in the future. They will be a necessary part of the future financial Infrastructure used by a growing number of privacy enthusiasts. Privacy will be far more useful (even critical) than anyone dares currently imagine.”
So, bottom line, I personally feel justified in taking an investment perspective wrt Incognito.
BTW, it may be a tough road ahead, & poss slow progress. Keep at it.
“Life is a process”.
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You have to factor in the opportunity cost of switching your funds into a different project. In my opinion, privacy projects will only thrive with more regulation. It’s possible governments will come after the devs, but there will always be a market for privacy. The price is trending down for now, but the sample size is small. The rewards are high and there is a lot of validators, which puts a downward pressure on the market. But as others have said, supply is limited and rewards will lessen over time. Even at $0.20 my nodes are profitable. I think the bigger issue is that Incognito is relatively unknown. There does need to be an investment in marketing. Get some YouTubers/influencers involved, etc.
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I think number 4 should be moved up a bit as US SEC regulations will likely sped to the rest of the world, as it is Elite bank driven. The SEC and the banks could also use a psychological approach to convensing the public that privacy coins are bad. The BIG Banks will not go down without a fight, as they push their CBDC.
Incognito like many independent privacy driven projects including us Goal Phoenix Crypto Infinity have huge fight ahead.
Creating freedom for ourselves and others who do not realize they are in enslaved financially isn’t easy.
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It’s just cycles. Simple as that.
Deep in bear market, btc dominance goes up and stays that way until the halving, which is when most people start buying alts because 6 months after halving the magic happens.
Before halving, All alts will bleed, the ones with marketing and strong community will hold a price and sometimes pump, the rest will bottom out (and feel dead) and then after the btc halving is when you find out if the project is dead and doesn’t go back up.
Meanwhile while your bag is tied up, MANY new projects with new ideas will be released and where do you think the money will go?
To sum it up, to stay relevant and not die,
Incognito needs strategy which has yet to be seen.
We will find out end of 2024
Cheers
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