6/07 ANDY HOFFMAN (CryptoGoldCentral.com): A New, Mega-Bullish Bitcoin Rhodium Dynamic – Aggressive Solo Mining!

in #andyhoffman5 years ago

For the first seven months of Bitcoin Rhodium’s MainNet, which launched in October, the mining pool painstakingly built by the dev team dominated XRC mining.

http://poolcore.bitcoinrh.org/index.html

Not MINED by the dev team, but painstakingly BUILT by it to foster others’ mining activity. In fact, the XRC network has become so decentralized – consistently, at near-record rates above 4 TH/s (it has at times surpassed 5 TH/s), the devs do essentially ZERO mining.

https://steemit.com/andyhoffman/@andyhoffman/5-20-andy-hoffman-cryptogoldcentral-com-brhodium-mining-far-more-decentralized-than-i-believed

However, just around the time XRC was listed at the prestigious Chinese exchange FatBTC, in mid-April, the hash rate surged, and multiple mining pools joined – like BSOD and Zergpool. This was a major step forward for Bitcoin Rhodium, as it demonstrated rising, broadening, global mining demand.

https://poolexplorer.com/coin/6049

That said, a new, equally bullish dynamic recently entered the XRC ecosystem - when last week, a large, well-financed solo miner started aggressively mining. So much so, it has supported Nice Hash prices, and enabled the price to rise – despite the fact he has sold every XRC mined.

https://www.nicehash.com/marketplace/x13

In fact, he has been very transparent about his efforts, in showing the community his wallet – which not only depicts the success of his mining strategy, but withdrawals to the exchange where most XRC trading occurs.

http://blockbook1.bitcoinrh.org/address/RiHj2JRqNaCnQXPgZus7MumfT6L38qGqor?filter=All

I was initially skeptical, as I have not yet seen such a strategy – but after contacting him, and doing an OTC trade with him, recognize he is simply a new, professional member of the XRC trading community. In my view, is extremely bullish, as it shows Bitcoin Rhodium is liquid enough to draw significantly larger miners, with significantly larger capital bases.

To that end, he has mined more than 2,200 XRC in the last week alone, and ALL has been purchased at the ask on p2p - much of it, by a new mystery buyer, who has acquired a whopping 10,000 XRC in the last two weeks alone.

http://blockbook1.bitcoinrh.org/address/Rjv7GRCq2LJyaFPUvVqWXj8AgSs78nowmw

Bitcoin Rhodium’s fundamental outlook is improving each day – with the biggest catalysts of all (in terms of what the cryptocurrency community seeks) coming in the VERY near future. Which are, listing on major exchanges endorsed by CMC’s DATA alliance, which has a June 14th deadline for compliance; Trezor support - which will occur in its upcoming, imminent firmware update; and of course, the next quarterly Strong Hands snapshot, on July 7th. This is why, at a roughly $10 million market cap, Bitcoin Rhodium possesses amongst the best reward/risk profiles in crypto.

Bitcoin Rhodium currently trades on p2pbp2.io, Trade Satoshi, Fat BTC, Sistemkoin and Bisq. If you have questions about anything XRC-related, including OTC trading, please email me at [email protected], or DM/PM me on Twitter or Discord.

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