Remember that GenCoin from the TV series StartUp is a fictional cryptocurrency with no real price.
If you’ve recently been hooked by StartUp on Netflix, then you may have found yourself itching to find out what the price of GenCoin is in the real world.
Unfortunately, with this particular cryptocurrency project being entirely fictional, you can’t just hop onto GoinGecko and check the GenCoin price.
Nope, GenCoin is not a real cryptocurrency.
But with so many people looking to buy the coin because they bought into the Netflix hype, the fact it’s not real might actually turn out to be a blessing in disguise for would-be investors.
While StartUp made the project sound amazing, the reality is that a real GenCoin’s price would crash and burn.
Let’s put on our fantasy hat for a second and explore the concept a little further.
StartUp on Netflix
GenCoin is the fictional cryptocurrency from the Netflix show called StartUp.
StartUp features the following description on its app:
“An attempt to launder stolen money, finances a cryptocurrency that puts entrepreneurs in business with a corrupt FBI agent and a Miami gang.”
It stars Seth Cohen… erm, I mean Adam Brody, Otmara Marrero and even Martin Freeman.
Basically, the series follows the story of how the controversial (keep in mind that this was back in 2016) cryptocurrency called GenCoin, was born.
The drama comes from the crypto project being incubated by shady individuals, who let’s just say certainly don’t fit the cliche tech entrepreneur type.
StartUp is actually quite an old show, first airing in 2016 on a streaming platform called Crackle before Bitcoin even went on its first mega bull run in 2018.
If you’re into crypto and are now planning to watch the series, just make sure you don’t go into it with real-world crypto expectations.
If it was real, GenCoin would be a centralised shitcoin
When we think of good quality cryptocurrency projects, we think about decentralised, open source protocols, such as what we have right here on Hive.
However, I’d be more inclined to compare GenCoin to the centralised shitcoin that our old friend Justin Sun now oversees on Steemit.
Sure they talk a lot about trashing banks and providing the unbanked with a decentralized approach to getting a loan, but it just isn’t real.
GenCoin’s closed-source code is even talked up like that’s something which will elevate their shitcoin above the competition.
But alas, StarUp isn’t actually about cryptocurrency at all.
Instead, it’s purely a fun take on the often psychopathic drama which surrounds tech startups.
A particular tech start up just happens to be building a product that somewhat resembles a cryptocurrency.
Therefore, the GenCoin price would eventually crash
While these aspects of centralisation would eventually cause the GenCoin price to crash, it would probably have its time in the sun.
While making it’s founders and criminal angel investors a shitload of money in the meantime.
As they slowly offloaded their pre-mine on muppet retail investors and even bigger muppets who buy controlling shares (shout out again to Justin).
GenCoin shares all the characteristics of closed, corporate led projects that hide behind the moniker of decentralisation.
But really, it would be built to make early investors money by dumping on those who are late to the party.
While this business model will eventually see GenCoinprices crash just like we see in the real world with projects that fit this description, it would likely pump in the meantime.
A pump that with the right centralised marketing and corporate celebrity backing, could be monumental.
If GenCoin was real… and let’s be clear once again that it’s not… you’d want to have taken your profits on that first rip because in the long run, prices would surely crash.
Just go and watch the series already.
Best of probabilities to you.
Direct from the desk of Dane Williams.
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This GenCoin crypto blog is exclusive to leofinance.io.