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Chinese speculaotors are pumping dead coin, StabilityShares (XSI)

StabilityShares (XSI) is listed at Chinese exchange Yuanbaohui and southxchange (there is no trading volume there. I don’t take it into consideration) It is traded as XSI/CNY, its price was unexpectedly pumped from ¥0.198 at January 20th, 2016 to the peak level ¥2.99 at January 26th, 2016. Its day trading volume jumped to $3.53 million from $101k in just one week’s time. The market cap reached to $3.87 million and it jumped to one of the top 20 market cap coins based on the data from coinmarketcap.com There must be millions of Chinese Yuan being injected into its market. I could say the Chinese speculators were pumping the price. Is the price stable? The price is ¥1.688 at the time of my writing and still stay at the high level.
XSI chart coinmarketcap

XSI chart yuanbaohui
Many holders thought they had earned a good fortune, then realised it is impossible to get the StabilityShares wallet synchronizing with the latest network. Because they cannot find the working nodes. Actually the development teams dumped it and all of related channels are closed, like the unaccessable official website www.stabilityshares.com, no updates from its Facebook and twitter accounts since September 2014. Even they can synchronize the wallet, another problem coming out is that they cannot access the available exchanges for cashing out the profits, except the one Yuanbaohui, because nearly all of the exchanges had delisted it considering it as dead and unsupported coin.

Yuanbaohui is a closed platform and based on Chinea, which requires Chinese phone number to validate the account. Otherwise you have no way to use its service. Many people are desperate at getting an account there, sell the holding of StabilityShares and grab the windfall.

The history of StabilityShares (XSI):
1. Original it was called StabilityShares (XSS),launched at March 5, 2014 and based on POW.
Its Technical specifications
-Algorithm: Scrypt Proof of Work (POW)
-Total amount of coins: 15,000,000 XSS
-Premine: 0,2% or 30,000 XSS for development of this coin.
-Block time: 90 seconds or 1.5 minutes
-Total amount of blocks: 1,052,200, this will amount to 3 years
-The first 100 blocks will have a lower reward of 10 coins per block, for starting the network fairly and prevent instamining
-Starting blockreward: 100 XSS
-Ending Blockreward: ~2.2 XSS
-Transaction confirmation time: 6 blocks or ~9 minutes
-Block maturity time: 100 blocks or ~2 hours
-Using Kimoto’s Gravity Well for difficulty readjustment

2.StabilityShares (XSS) was converted to POS and renamed as StabilityShares (XSI) at March 19, 2014.

New Added Technical Specifications
Nominal stake interest: 3% annually
Min transaction fee: 0.0001 XSI (Fees are paid to miners)
Confirmations: 10, maturity: 40
Min stake age: 12 hours, no max age
ANN thread: https://bitcointalk.org/index.php?topic=572508.0

Community member cryptonewbie (https://bitcointalk.org/index.php?action=profile;u=254051 ) scammed 3BTC. It completely ruined the reputation of StabilityShares. Coder bminer777 was not active at this project at all. The only stunning feature it offered was merchant support plugin called StabilityShares Payments for WooCommerce, but there is no updates to it since two years ago.

At the moment the only workable block explorer is http://www.multifaucet.tk/index.php?blockexplorer=XSI. There are two connecting nodes. Check the following screenshot of my wallet if you still have difficulties to find the nodes.
XSI nodes

Some rumours are going around like that Chinese people will take over this coins. But I never heard any official announcement except the price movement. I managed to look through all of the Chinese information related to XSI, joined some QQ groups and asked about the information of the current progress of XSI. But the responses are all pessimistic, like the wallet has some problems, it is dead, and advised me some new coins to join, etc.

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2 comments

  1. I’ve nearly 7000 XSS and sitting on them, because I can’t convert them into XSI anymore. This sux hard!

    • Sorry to hear that. You missed the opportunity of the conversion by sending XSS to the exchanges two years ago. But some users told me they tried to import XSS wallet to XSI wallet folder but still failed.

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