Well. The good news is if you are one of the few people trying to buy all the Spare coin you can you can get it pretty cheap. If you were trying to sell all your SPARE for a windfall at $20 a pop based on a tweet, then you’re probably having a pretty rough day.
From what I can tell, basically immediately upon trading it lost 99% of its value and is currently trading under 20 cents US. This probably isn’t what the SPARE developers were hoping for, but it basically meets my expectation. I don’t really have too much to say to this. I do not think there is any way someone should be putting money into a Chia fork coin right now, but I have been wrong many times in the past so do your own research. Like looking at the image below.
Now, I don’t want to accuse them of doing a rug pull and selling all their coin. That would be a serious accusation and I don’t have proof. This person on Twitter also does not want to accuse them of that, but there is this video….
This is basically to be expected in cryptocurrency with projects like this. I don’t think anyone seriously watching the space was expecting anything different, based on what I was hearing about the differences between this team and nChain.
Edit: Missed the word “don’t” in a sentence above. Fixed and bolded.