As I mentioned earlier this week, I have been noodling around how I am going to approach the SWEAT company of Apps.
On my crypto journey to build a position worth 1BTC I believe that the Sweat Coin app and SWEATeconomy token will play a large role.
I touched on aspects of the SWEAT family previously. To summarize the step counter mints SWEAT Tokens. At time of writing, it takes 2069 steps to mint 1 SWEATeconomy token. The more tokens minted the more step that will be needed to mint a token. At launch, it took 1000 steps to mint 1 SWEAT, in 1 year from time of writing it is projected to take 9,681.34 steps. This provides the scarcity, unclear what provides the value. But the implied scarcity is a much better foot forward than most meme – shit – or alt coins every put forward.
Currently my SWEATeconomy tokens hold a BTC value 0.000058 BTC. Another good sign for this cell phone alt is that it has a tradeable value.
But this point isn’t about singing praises, its about a strategy for this alt.
I know the point of this project is to funnel everything back into BTC. For my SWEATeconomy tokens I am going to play the long game. I am going to continue holding and minting SWEAT until tow things are true.
1. The number of steps to mint a SWEAT token rises above 12,000.
2. The wallet is live and I can move SWEAT tokens onto an exchange.
While I wait for these two circumstances to materialize I am going to stake tokens for 3 months at a time. Every time I reach 50 tokens, I will begin a new 3 month staking cycle. Hopefully I will be able to roll the staked token through the lock up period a few times before everything goes live. All tokens have to go through atleast one 3 month staking before moving onto an exchange.
If you would like to start walking and earning Sweatcoin with me, my referal code for the pedometer app is:
As always you can join the conversation on Twitter @1BTCproject
And keep track of my crypto journal on my other blog - http://635ed752b3bfb.site123.me/
