Beware GIN valuation
At the time of writing GIN coin was valued at ~$10 million USD.
This valuation has tracked steadily with the funds under management at the GIN platform https://p.gincoin.io/#!/
GIN looks like a great platform. It provides "turn key masternode setup and maintenance. Now this is a service that anyone, even without linux experience, can learn in ~ 1 hour. Nevertheless, GIN appears smooth and hassle free. Payment for the service is in GIN coin and GIN is available as a masternode (of course).
So what is my problem? In a word the Valuation.
GIN is charging $0.50 USD per server per day. Which is a hefty price tag and one that doesn't seem sustainable. For example GIN is reporting 123 SMARTCASH masternodes under management. Yet SMARTCASH returns $0.23 per masternode per day. You would need to run 3 SMARTCASH masternodes per server to break even.
The list goes on. But when anyone can deploy a VPS for $2 a month ($5 a month on VULTR is the setup preferred by most) the business model looks brittle and prone to being undercut.
Disclosure: I do not own GIN and have no intentions of buying.
Do you own research (always!!).
https://gincoin.io/
https://bitcointalk.org/index.php?topic=2998031.0
https://github.com/gincoin-dev/gincoin-core/
https://twitter.com/gincoin_crypto
https://discord.gg/RTgVNxR
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