I just LOVE their idea and concept. I’m amazed how there is so little talk about Choon in Steemit. This is fairly new projects so you are in a luck to get on board so early 🙂
Choon wants to re-invent music industry by cutting out the middleman and giving cryptocurrency directly to artists. Record labels are replaced by listeners who curate thru new music and make playlists and promote them to wider audience. Artists determine how much % of NOTES will be given to playlist owner. First year, listening is free and ad-free
Choon distributes tokens similar way Steem does. Every day 375 000 NOTES are distributed among artists whose music was listened/streamed/mined on that day. Choon recently finished successful ICO and 10 000 NOTES where worth about 1 ETH. Price of course is going to rise in the future.
What a start to enter into crypto world! Bought about 500€ worth of BTC and 500€ worth of STEEM. STEEM took even bigger hit (17%). I was trying to figure out why Bitcoin dropped so much and found some articles:
Investment bank Goldman Sachs is ditching its plans to open a cryptocurrency trading desk, reports detail
One other theory was related to Mt. Gox case, where hackers were found guilty of stealing 850 000 bitcoins and court ruled that they have to pay it back in FIAT money. To achieve that and not to disrupt market too much, they are selling them in portions.
What is sure, is that some big whale wanted to get rid of his Bitcoins fast. If you want to read more, check out this article: