BelaCoin (Bela)

Read the disclaimer before you proceed

Belacoin – calm before the storm

TL:DR

I bought this coin in the past and doubled my investment. I bought recently, because we are a few weeks away from the release of the massive redesign of their ugly and underrated belacam.com. I’ve seen the new designs and they are gorgeous. belacam.com will be the instagram where you get money for your likes. Finally when someone snaps at those instagram addicts and asks them why do they care so much about likes, they will say “I get paid for each like on belacam.com” I believe in this project and this coin and it has went up and down between 3000 and 16000 satoshi in reaction to news, and I think it is going to do it again. As you will read below, the coin is severely underpriced currently and there are several factors at play that might multiply the price very soon.

Bela has the ability and aims to power social media websites in need of a cryptocurrency token.

Some call it the Steemit for images (Steemit + Instagram = Belacam)

Summary
Rumor has it that the founder of the coin started it as a joke, and named the coin after his daughter. But at some point along the way things got serious, especially with the conceiving of belacam.com.

As of this writing, 12th of August, 2017 Bela, the cryptocurrency that backs Belacam, is in my opinion severly underpriced and trading at about 6000+ satoshi at Poloniex. Bela just tweeted about having just registered an LLC – and things seem to be getting serious. There is a countdown at livebela.com about an upcoming event at August 16th which I suppose will be the release of the redesigned belacam.com

Currently, belacam.com looks like this:

Not very good looking, admittedly. But as my readers know, I firmly believe that buying opportunity is hidden in an underestimated, unfulfilled promise, that is about to transform in the near future, and we know for a fact, that this is going to happen. (You can see I’ve made 24.8 Bela from likes for my photos that I’ve uploaded)

So there we have it – this website will turn into this:

And yes, the expectation of this happening is somewhat factored into the current price by hardcore followers, but the PR that is going to happen after the release has a potential to increase the price further. Especially with the increasing adoption of the then-beautiful website.

There is another problem with belacam – it is too slow. Once that is fixed, another adoption and price increase spike is underway. I love these opportunities. I love problems that are holding the price down, and I love knowing that fixes are coming.

Here’s another bit of insider information: at August 8th, people from Bittrex emailed Bela back to ask for their logo. Bittrex listing is a big thing, as we all know, so fingers crossed.

And yet another reason why the price is down – the belacam redesign and the mobile apps have been postponed a lot for the past few months. Bela is used to being above 10000 satoshi in times of good news.

Website: http://belacoin.org/  http://belacoin.org/
Coinmarketcap: https://coinmarketcap.com/currencies/belacoin/
Poloniex: https://www.poloniex.com/exchange#btc_bela

 

General

      • Website: Does it look good/presentable – The website is very colorful and fresh. It needs to be updated though, because there are recent developments that haven’t been posted there, and the dark gravity wave news is 1-2 months old.
      • Website: Does it have a roadmap for the cryptocurrency development – no
      • Website: Does it have a whitepaper – no
      • Website: Is the domain name and TLC good – yes. belacoin.org and belacam.com are as good as it gets
      • Website: Is it a quick wordpress template, a 2-hour html job or a custom design with lots of work, money and thought thrown at it – Looks like a custom job, and like I said, it looks very good
      • What new does this cryptocurrency bring to the world, what problem does it solve, what does it stand for – it is a litecoin clone with several tweaks. Doesn’t bring anything innovative as a cryptocurrency, its power is the belacam project and the aim to focus on social networks as the go-to token.
      • How does the cryptocurrency name sound (does it sound legit and like a good brand name) It sounds nice in my opinion, it feels good. Doesn’t sound dorky like most cryptocurrencies do.
      • Is it a PoW, PoS or PoW/PoS coin, what is the mining difficulty or APR, does it suffer from inflation – Proof of work. I don’t think it suffers from inflation. Last time I checked (3 months ago) it was very difficult to mine. “Each block now rewards miners with only 25 Belacoin instead of 50 Belacoin. This reduces the inflation rate from ~ 36,000 BELA per day to about 18,000 BELA per day.”
      • Who is behind the cryptocurrency – are they shady figures, or have they placed their names and pictures on the website; what is their track record and reputation; do a quick google/github research on them – The “Ambia Fund” is behind Bela. No information about the person/people behind it. I was cautious for quite some time, but the Ambia Fund keeps talking to us on slack and has been doing this for a lot of time so my guard is down. https://twitter.com/TheAmbiaFund After a lot of digging I found a credential in one of the forums, so no shadiness here, confirmed:
        “Andrew Feldspar
        Communications Director
        The Ambia Fund”
      • What is the limit on supply of coins in circulation – 54 million. Pretty good, unlike some cryptos with several billion coins max supply
      • Is there a link to the source codehttps://github.com/TheAmbiaFund/Belacoin  this is the coin source code. There is no public repo for belacam though
    • When was the last commit made, and how frequent are commit – 5 months ago for the coin. Since the website redesign is soon to be launched, but there is no public repo, we must speculate that the last commits on that have been pretty recent.
    • How many developers participate in the coding – N/A

Exchanges and trading

  • Which exchanges (and how reputable they are) is the coin traded on, what is the daily trading volume and market cap – market cap is $8.7 million and 24h trade volume of $325k.

  • Are there buy (support) or sell (resistance) walls

As seen, there is a lot of buy support and thin sell resistance, the road to higher prices is clear.

  • How does the chart look – lots of volatility for the past year, ups and downs – where money is made. Currently at a very low point in price with good news coming – buying opportunity.
  • Does the chart contain patterns that look like pump and dump actions or trading by bots – the spikes were caused by good news.
  • Has the coin spiked on one exchange after being added on another exchange – I don’t think so

Social

  • Is there a Bitcointalk forum Announcement thread – yes https://bitcointalk.org/index.php?topic=1373100.0 https://bitcointalk.org/index.php?topic=437825.0
  • How many pages is it- 55 pages in 18 months. Bela isn’t very popular.
  • History of the coin according to the forum and general public impression of the coin throughout – Went through all 55 pages. Starts out as an Android chess game. Nothing else going for it for months. Rumors of the project being abandoned. Uncertainty. In November 2016 The Ambia Fund joins the endeavor. Things start picking up, price too. A week later The Ambia Fund takes over the project from the original developer (who went on to work on Neos) and the Android Chess game developer. Rebranded from bellacoin to belacoin due to inability to obtain original domain. New website. Things turn around and people start gaining confidence and optimism. An outbreak of FUD had started but with time and constant communication and progress updates by the Ambia Fund (and along the price increase) it started disappearing and again optimism took its place. A let down was a supposed meeting with big investors that got cancelled. Another let down was the delay of belacam and belacam design update and belacam mobile apps. All these things stopped the price from going to new heights.
  • Is there a slack channel – https://belacoin.slack.com/messages/
  • How many members in the slack channel – 2000+
  • What is the public sentiment in the slack channel constructive talks about projects
  • Is there a Twitter profile for the cryptocurrency and does it post regular updates, how many followers yes, posts almost daily, 5300+ followers, https://twitter.com/BelaCoin and also https://twitter.com/TheAmbiaFund
  • Is there a Facebook page for the cryptocurrency and does it post regular updates, how many likes – 300+ followers, fairly inactive https://www.facebook.com/Belacoin-395853550747478/

Current state

  • Are there any known problems with the source code, the wallet or something else regarding the coin (transactions, mining, efficiency) – no. No buying opportunity here. Not undervalued.
  • Is there an active development for fixes on the way – active development on the first prototype.
  • Has the wallet been under maintenance for prolonged periods of time on some/all of the exchanges Is any government planning on banning the coin (or similar coins) or putting heavy restrictions towards its use – no

Popularity and perception

  • What does a quick google search tell us about the coin – the links, typical for every cryptocurrency + some articles (including yahoo finance) about bela being upcoming instagram competitor
  • Filter google search by recency or for “news”- what are the latest news on the coin? – same thing
  • Are there youtube videos about the coin – a lot of videos from different people about the coin, belacam and investing/trading the crypto
  • What is the general sentiment in the comment section below the videos (constructive, fud/hype, calling out scam etc) – mixed, no apparent sentiment or behavioral pattern
  • Is the coin associated with illegal/criminal activity or the dark web – Not at all
  • Similar cryptocurrencies/projects – Steem


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