Breaking news, Theresamaycoin has officially been announced as deceased after the parody token lost so much value, it’s existence has reached an end point. The token is now no longer a viable project. Many could argue that this the entirety of May’s cabinet is no longer a viable project, but anyway, that’s a story for another day.
What on earth was Theresamaycoin?
Theresamaycoin was a cryptocurrency and payment system developed in 2017. It was designed as a very basic cryptocurrency, one which could be used to facilitate the transfer of payments across the blockchain. According to the official Theresamaycoin website:
“Theresamaycoin is the Internet of Money uses P2P technology to operate with no central authority or banks; managing transactions and the issuing of Theresamaycoin is carried out collectively by the network. Theresamaycoin is open-source; its design is public, nobody owns or controls Theresamaycoin and everyone can take part. Through many of its unique properties, Theresamaycoin allows exciting uses that could not be covered by any previous payment system.”
See more for yourself, here.
The token has never been considered a serious asset, however through its viral nature and mockery of the UK government, the token did gain some traction and popularity, reaching a market capitalisation of $400,000.00 and an all time high of $0.017 during the 2018 cryptocurrency boom.
Now, within the tumbling bear market, accelerated by a sudden drop in Bitcoin’s value, Theresamaycoin has stooped to a value of $0.000506, rendering the token valueless, causing it to be listed on the Deadcoins database, a hub used to list information on dead ICO’s, exit scams and cryptocurrencies.
If you’re interested, you can find the Deadcoins database for yourself, here.
It’s very difficult for altcoins to really develop into viable crypto projects. Indeed, this could have taken off and could have become the next TRON, but it didn’t. Viral characteristics alone are not enough to allow a cryptocurrency to really establish itself (apart from Dogecoin, obviously). What this tells us is that the community don’t want to entertain novel cryptocurrencies ‘for a laugh’ and that the industry is starting to become far more serious. This is a good thing for cryptocurrency adoption enthusiasts, but for those who miss the fun and carefree streak that once existed within the altcoin markets, it could be considered as bad news.
Either way, perhaps Theresamaycoin will see a resurrection, or maybe with MAY gone, we might see the launch of a BORIS coin instead?
I sure hope we don’t.