Hello dear readers

Today i will write about Cryptonight Haven

Haven is an untraceable cryptocurrency that proposes a mix of standard market pricing and stable fiat value storage without an unsustainable peg or asset backing. It will achieve this by using a built in on-chain smart contract that controls the minting and burning of coins to facilitate value for users that choose to send their coins to offshore storage contracts while allowing everyone else to be exposed to the natural price movements of the currency.

Haven is a fork of Monero so inherits the stealth and anonymity that it’s famous for. Haven also has the benefit of starting the blockchain from scratch with RingCT for extra privacy. Further, Haven’s offshore storage smart contract allows privacy conscious individuals that want to keep their money in an untraceable currency without being subject to market fluctuations, a means to do so.


Offshore Storage

Haven doesn’t rely on a peg to maintain a relationship with fiat currency and can be traded at any value without affecting those who want to maintain the relationship. It does this via a built in smart contract called offshore storage. Sending Haven to offshore storage (burning) records a reference on the blockchain to the current fiat value which can be restored later back into Haven by minting new coins to the tune of the current fiat value.

Now enough of the technical stuff let me tell you about my experience.

I had to switch to Haven due to my rig being unable to mine ETH but and it lowered my earning by 30$ i was unhappy

But when i calculated the power and price fluctuations i found it quite rewarding. As i was new to the whole exchange scene i had to learn some stuff first. Through trial and error i managed to earn some money.

Now that brings me to my first panic attack i had on exchange i bought 20 XHV for the price of 12800 satoshi then something bad happened

As soon as i bought it price started to drop and each hour i was afraid to even look at my phone it droped to 10300 satoshi i was devastated i thought i made a huge mistake and lost money it a little money but to me that lives from paycheck to paycheck is no small amount.

But then this morning i woke up to this:

I was so happy to see the price go back to the price i bought it at now i will wait for the price to go little more up to at least make some profit.

When you mine Haven you have to options to burn them at high price and then mint them at low price or trade them at exchanges for other crypto.

Even though i switched to ETC few days ago i will keep trading XHV because its good learning experience for me and i see i can make some small profits here.

Thank you all for reading

I wish you all good day and happy trading.

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