My friends, you are about to experience a brutally honest review of TitanX, which so many of you have been asking me for. This is one of those currencies with a tiny market cap, and some of you are thinking, oh, this is like a great opportunity, right? No. In my opinion, this is absolute garbage. I'm going to cover the good, the bad, and the ugly, because I believe in holistic reviews that don't just go into hype.
The only good thing I see about TitanX
Here's the good. The only good thing I see about this is that it's a small market and it's new. Many of the coins we saw pump in the last bull runs were smaller markets and brand new, which means it could pump easier with smaller amounts of money. The fully diluted market cap on this is under 5 million, and that's like one of the best things it has going for it.
It also has very few holders, and you can use that to figure out how much it is valued per holder. Now, 7,000 holders is small, but you've got to look at whether this is going to do well in the future. So take the fully diluted market cap, call it 5 million, divide it by 7,500 holders, and the average value per holder is under $1,000. That's the best thing this has going in its favor. Everything else, in my opinion, absolutely is horrible, and there's no way I would touch this.
The bad and the ugly: this thing is totally centralized
First of all, you've got 44% of the supply in one single wallet. Then you've got another 12% in the next one. On the token holders chart, the top 100 holders have 83% of the tokens, which is way too centralized, and it's 92% for the top 500. As small as this is, this thing is totally centralized.
It's also not even on CoinMarketCap right now. And on CoinGecko, it already had a much, much higher high, and it has already dumped significantly against that.
What is TitanX, really?
But here's what you really need to look at: what is TitanX? You cannot really know something just off of the price chart. You need to see what it actually is. In the about section on CoinGecko, it doesn't even tell you what it is. Then you go to the website, and this is where you see it's another one of these HEX, ZEN, absolute junk scam garbage coins, which has no real utility or value. There's no reason for it to exist except for a Ponzi scheme, marketing, lying, and get-rich schemes. There's no reason to hold this.
The most valuable tokens, Bitcoin and Ethereum, had major technological breakthroughs. Bitcoin was the first digital currency. Ethereum brought the first smart contracts. And where I see the future going, internet computer, is the first platform where you can build everything completely on chain. Those are big technological breakthroughs. This is merely a token, with hype and marketing and speculation. There is no good reason that I see to hold this.
And that means the only way you make a profit on this is if people trick naive crypto buyers into putting money into it. It's on Ethereum right now. Maybe it'll go to other chains.
It's the next HEX, the next ZEN, and I've been burned before
But as we saw with ZEN moving onto a bunch of different chains, just look at the ZEN price. If you want to look at this like it's the next HEX or the next ZEN, just look at what those have done. Look at ZEN. It's been nothing but down. There have been a couple of speculative pumps, and I'm sad to say I got hyped up on this before, before I started remembering the importance of technology in crypto. ZEN had so much hype, but almost every single person who's bought ZEN has gotten ripped off on it so far.
And HEX is another one of these currencies: pure hype and speculation, no real value. On the price chart it did like a hundred X, and that's all anybody talked about. It did like a 10,000X, I guess, from the bottom. But also, almost everybody who's bought HEX has lost money and gotten destroyed, and fueled someone, Richard Heart, who to me looks like he only cares about getting himself rich and will do anything to get your money to buy himself cars, diamonds, et cetera. So this has the exact same kind of energy to it.
What I've noticed is that the same kind of people will consistently get into the same kind of projects. And I don't mean the same kind of people as in some demographic. I mean the exact same people who were hyped up on HEX, hyped up on ZEN, and hyped up on TitanX. When you see the history and the energy, this is all bad. There's no reason to buy this. And if you look at the holders and the X account, they have a decent amount of impressions on X. But again, that's only people who know nothing about crypto investing and are purely gambling, hoping for others who would want to cash them out. This is the kind of pattern that makes me say 99% of crypto is theft, and only a tiny fraction is real.
"Cool tech" is not the same as technology people actually use
Look at this. One tweet says the biggest problem they've set out to solve with TitanX is liquidity and buy pressure. Everything in crypto has a goal of getting people to buy, no matter what they tell you. Cool tech is only cool because people believe it will get more people to buy. Wrong. Wrong. There is technology that is so good people actually use it and build on it. You get on a computer and it has real utility, and there are a ton of things you can do with it.
There are all kinds of companies you could have invested in, but the ones that made the best technology and business systems have been the most successful. The ones that just copied other business systems and didn't innovate technologically, almost all of them have done nothing. There are very few companies, and generally the companies who made big breakthroughs technologically, like Google making a search engine that was way better than anything else, or Apple making a phone and computers that were way better than anything else, fundamentally were part of changing our whole reality.
So to me, this is crypto that is just degen. It's all about tricking people into gambling on coins and looking at crypto as a casino. And I'm sad to see there are already 7,000 holders who've gotten tricked into getting this. And what do you do with it? Create a miner, stake payouts, buy and burn. Even if this does anything like we've seen in the past, it's certainly possible it could get a manipulated speculative pump at some point, but most of you will not exit at the top. And even if you do, all you've done is steal money from other people who were vulnerable and easily misled, which is dishonorable and will leave you feeling bad about yourself.
How do I know? Because I used to do it
How do I know? Well, I've been in crypto a long time. I pumped altcoins and made money off of naive people, and I hated myself for doing it. That's why I do these kinds of reviews today, and you can watch the rest of my honest coin reviews in my Money playlist. These are also the kinds of conversations I have every day with the people in the Jerry Banfield Family, where the goal is honesty instead of hype.
My verdict on TitanX
So this is, in my opinion, an absolute garbage coin with no utility, which anybody has the right to create. And we need people to have some realism. There's no reason in the world I would buy this. I would much rather have my money in something like internet computer, which I do, that is based on technology. ICP is the only crypto I think is worth buying, because when the marketing and the hype all die down, all you've got left is real technology, developers building on it, and users building what developers have built.
So absolutely stay away from this. Do not touch it. And whatever you decide, please do your own research before you put a dollar into any coin. If you ever want a second opinion on a project before you buy, that's exactly what I help people with inside the Jerry Banfield Family.