Disclosure: Nothing in this blog should be taken as investment advice. Do your own research. This blog is supported by advertising and affiliate links... Links to products and/or services on this blog may include links to affiliate programs that provide commissions to this blog. All of the content in this blog is 100% my own opinion.
Oscar Meyer announced that they have launched a cryptocurrency called “Bacoin”.
To see if you can instantly win some Bacoin, visit this site.
Winners are awarded at random… the “strip-o-currency” will only exist for two weeks.
The current value of a Bacoin is 27 strips of actual bacon (as of this writing).
As you can see from the chart below, there was a spike in the price earlier today when peoples’ heads exploded realizing that this was a thing… Then it went down… Now it’s trending up again.
The maximum value of a Bacoin is around 42 slices of actual bacon. Which is actually a fair amount of free bacon.
If you “win” a “coin”, you can increase its value (in packets of bacon) by promoting the sweepstakes your friends and family via Twitter and email…
The more you promote, the more it could be worth.
Er… Unless no one is promoting it. In that case, the value of Bacoin will fall, probably precipitously, maybe forever.
That is, unless Oscar Meyer decides to increase the value… In its sole discretion.[Per the Official Rules and Regulations… An actual lawyer was paid to craft these terms and conditions.[/note]
This is more of a sweepstakes than an actual ICO… And I don’t think Oscar Meyer is in danger of violating any securities laws.
But hey… If you play, you may be able to get some free bacon.
So you’ve got that going for you…
Which is nice.