2/03 ANDY HOFFMAN (CryptoGoldCentral.com): A Comparison of BRhodium And It’s “Competition”
In financial markets, the biggest enemy of reality is inertia; i.e., the glacial pace at which “common knowledge” dissipates. Abby Cohen of Goldman Sachs, way back when, called financial markets “supertankers” that take time to turn around – but when they do, they can move quite swiftly in the opposite direction.
In the case of crypto, hash rate is a “comfort zone” for miners in some of the larger altcoins (and Bitcoin); as they have their equipment set up to mine them, and are “used to” doing the same thing. As nearly all altcoins have 100% directional correlation with Bitcoin, they figure that nothing can go wrong, assuming the long-term crypto trend is up.
That said, the relative valuation of different altcoins can vary dramatically – and change on a dime. As can the valuation of altcoins as a whole relative to Bitcoin – whose next move, after a 15 month crypto bear market, will in my very strong view, be upward.
Since the BRhodium project launched in December 2017, I have written four articles asking “what will it trade at?” – in all cases, deeming it capable of taking significant market share from in my view, useless Bitcoin forks like BGold, BDiamond, Super BTC, and Lightning BTC. Let alone, scams like BPrivate, and many others.
It’s notable that the BRhodium project launched in December 2017, when nearly all of those projects forked from Bitcoin (except BPrivate, which forked from ZClassic and merged into Bitcoin in early 2018). Every one took mere weeks to create, and not one had a “use case” other than capitalizing on the raging Bitcoin bull market, and crypto-dividend frenzy catalyzed by the BCash fork in August 2017.
BGold was the first - which is why, in my strong view, it has the highest valuation; as at the time, Trezor and Ledger felt legally obligated to support it (and BCash). However, being “first” doesn’t hold water in the long-term court of investors – especially when your Edsel is outcompeted by far superior competitors. Without any semblance of technical knowledge, the layman’s explanation of BGold is that it is a Bitcoin clone other than switching to the Equihash mining algorithm – which theoretically, is ASIC-resistant; thus, enabling it to be mined by small investors, not just major institutions like Bitmain.
The problem being, that at least a dozen other coins now use Equihash – which itself needs to be continually modified because Bitmain has created ASIC miners to mine it. Not to mention, numerous other algorithms have emerged – like BRhodium’s X13 – which have the same miner-friendly features.
In BGold’s case, it was actually 51% attacked last year – so it hard-forked into a new Equihash algorithm that will likely buy it some time, but not keep Bitmain away in the event it is deemed profitable to create new ASIC miners. In other words, an ongoing cat and mouse game with the big boys – for the future of an altcoin that doesn’t do anything unique other than claim to be ASIC resistant…which it’s not. For that “uniqueness,” BGold carries a $220 million market cap.
Next, we have BDiamond – second out of the post BCash crypto-dividend gate in late 2017 - that for more than a year, was too dangerous to attempt to split off…and now that it’s price is down 90%, not worth the time. BDiamond’s “use case” makes BGold’s look good, as essentially, the only discerning feature of this “tier two” Bitcoin fork is it multiplied Bitcoin’s supply cap by ten! Yes, BDiamond’s Chinese creators took a BCash-like tach of trying to “compete” with Bitcoin with higher supply and lower per unit/price – and a year and half later, like BCash, not a single BDiamond has been used for anything but speculation. I rate BDiamond’s “use case” a zero out of ten – compared to one or two for BGold – and thus, marvel at the power of inertia that maintains its $125 million market cap.
Then we have Super BTC and Lightning BTC – which forked from Bitcoin nearly simultaneous with its $20,000 peak, to great hype. Both are based in China – from my experience, the biggest hotbed of financial malfeasance; and both did essentially nothing to discern themselves.
Lightning BTC was most likely named after the Lightning Network; as like BDiamond, it aimed to compete with Bitcoin – in this case, with faster transactions speeds…which of course, are easily achieved when NO ONE uses it. Comically, it’s website claims it’s “decentralized,” whilst simultaneously listing the names of its developers. I’m quite sure it’s only modification to Bitcoin – on December 18th, 2017, one day after Bitcoin peaked – was LOL, a larger block size. However, that information has been conveniently deleted from its website – and when you click on FAQ, it now says “this Community is Not Available - Please contact the community owner for assistance.” In other words, Lightning BTC serves absolutely no purpose, and has gone to great lengths to hide this secret. And yet, it has consistently maintained a $20-$30 million market cap through the year-plus crypto bear market.
As for Super BTC – short for “super smart Bitcoin” – it was “backed by a Chinese billionaire”; and thus, had even more hype when it forked from Bitcoin in December 2017. It’s website has essentially no information on it – other than a list of its Chinese team, and goals of throwing everything but the kitchen sink into Bitcoin to in their words, “make Bitcoin great again” (where else have I heard that before?”). Smart contracts, big blocks, privacy, lightning network compatibility…blah, blah, blah – none are needed in a “new Bitcoin”; and given the limited info on the website, it’s unclear when; and indeed, if; these protocols have even been added after nearly 18 months. That said, Super BTC is good for one thing – i.e., pumping and dumping; as unquestionably, it is one of the most volatile cryptos out there. Pretty good, for a bunch of hype and buzzwords, but no actual use case. Currently, it’s amidst a major pump cycle – at a nearly $65 million market cap, the peak of its year-plus trading range.
Long-time readers know my view that BPrivate was one of the top scams in crypto history. “Created” by a BCash devotee with a reputation so bad, he was “kicked out” of the project, this massively hyped bundle of garbage has not a chance of competing for anything. It’s team forked ZCash into ZClassic, solely to sucker investors – through its massive hype machine – to buy ZClassic in order to get the BPrivate cryptodividend. The problem being, the founders knew this would occur – and unquestionably, dumped at the peak price of roughly $250 (up from $4 two weeks earlier), which occurred nearly simultaneous with the BPrivate snapshot. A day later, it was back to $10 – and today, it stands at $1. Meanwhile, BPrivate didn’t live up to any of its promises – and is essentially a Bitcoin fork with ZCash privacy features. In fact, we just learned two months ago that a “secret” premine was created for the founders to dump, in perhaps the most glaring example of crypto fraud since BitConnect. And yet, BPrivate STILL has a $27 million market cap.
And then, there’s BRhodium – which unlike the others, is not a fork of anything…but instead, a unique blockchain that took more than a year to build by a brilliant; anonymous; English speaking; and extremely transparent, supportive, and helpful dev team that has devoted 100% of their lives to BRhodium’s success. Methodically conceived, it has numerous unique characteristics that investors do not yet understand, given how little attention has been paid to the few new altcoins in the current bear market environment.
With 1/10 of Bitcoin’s supply, it is scarce – and it’s X13 mining algorithm enables small investors to mine it profitably. It’s “Strong Hands” crypto-dividend program ensures in-kind payouts for holders for the next eight years; and in the coming weeks, privacy features and hardware wallet support will be announced. And by the end of March, the source code will be publicly released. All this, plus the benefit of VERY strong marketing support by myself (I am not on the dev team, but am simply a large holder who believes in the story) and the BROD community…for the bargain price of, LOL, a $7 million market cap. Currently, it trades with a significant amount of liquidity on the p2pb2b.io exchange - and OTC volume has been, and again will be, very strong. Plus, new exchanges are in the works – and when CMC.com realizes XRC’s volume is not, like most listed altcoins, fake, it will be listed there, too.
If you have any questions about BRhodium, or XRC OTC trading, please email me at [email protected], or DM/PM me on Twitter or Discord.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.