It’s funny that people question my motives for promoting the soon-to-launch cryptocurrency Bitcoin Rhodium; a/k/a BRhodium. Those who follow my Twitter feed - @Andy_Hoffman_CG; subscription-based blog – CryptoGoldCentral.com; and World Crypto Network podcasts are well-aware of my Bitcoin Maximalism – as well as well-documented interest in cryptodividends. Additionally, they are aware of my passion for TRUTH, with 15 years of public commentary in the Precious Metals community – and two-plus in cryptocurrency – as irrefutable PROOF.
As for cryptodividends, I am not a “shill.” I’m getting them for free, so there’s little incentive for me to say anything about them, positive or negative. However, as a public figure in the cryptocurrency community, with a well-known interest in cryptodividends, I am often asked about them – and as a “shareholder,” have a direct interest in their performance. Thus, many variables must be considered when “judging” my intentions.
Those following my commentary are well-aware I sold my BCash for Bitcoin the second it was safely splittable. Also, that I had a modest level of enthusiasm for BGold when it first forked – until a few weeks later, when I realized that what made it unique was being copied by numerous other Bitcoin forks. As for the other Bitcoin forks, they have become something of a mockery - as not only do they, like BCash and BGold, have no unique use cases, but are unlikely to be safely splittable. And the same goes for BPrivate; although its marketing effort is so powerful, it may have some value in the short-term - before ultimately, joining the dustbin of dying cryptos.
That said, BRhodium is a completely different animal – so much so, that despite being the ultimate Bitcoin Maximalist, I not only intend to hold it for the long-term…but would not be surprised if it outperforms Bitcoin. Yes, this is a bold statement, but this is how powerful BRhodium’s investment thesis is – and since I, like other proactive Bitcoin holders, received it for FREE, there’s no downside if I’m wrong. As for those that don’t yet own it, this is not a “sales pitch” per se – as I’m simply spreading the word about something I own, given my belief that when it starts trading next month, it will be heavily undervalued. So, for your own investment good, please don’t fixate on my “motives” – but instead, whether my conclusions about BRhodium’s investment merits are valid.
Above all, what attracts me to BRhodium is my belief that, unlike 95%-plus of cryptocurrencies, it offers a viable long-term use case, that cannot be subsumed by Bitcoin. Which is, the “Bitcoin ultra-scarcity” – with just 1.1 million units in existence at the time of launch, and 1.0 million more to be mined…over the next 100 years.
Due to the proliferation of Bitcoin forks, most investors believe BRhodium is a Bitcoin fork, too. However, it is not – but instead, an altcoin that, while it utilizes the most desirable features of the Bitcoin protocol, is NOT a fork. The Bitcoin name is simply being used for marketing purposes, but it does not share a common “ancestry” or mining algorithm.
What it does share, however, is its “shareholder base,” given that BRhodium is being distributed as an AIRDROP to Bitcoin holders as of the “snapshot” date of January 10th, 2018. Not just “any’ Bitcoin holders, mind you, but those proactive enough to participate in the two airdrop phases – totaling 840,000 of the 1.1 million units outstanding. Which, given the nascency of this soon-to-be-the-future-of-cryptodividends format, was challenging for many – but ultimately, successful for the majority of those who persevered.
In a nutshell, Bitcoin holders were asked to register non-zero balance public BTC addresses from online and offline wallets in which they held their own private keys – like, for instance, online Electrums or offline Trezors or Ledgers. By “signing” the unique message supplied by BRhodium, one could prove Bitcoin ownership without giving out their private keys; thus, enabling the receipt of FREE BRhodium in the subsequent claiming process - in one’s personal, online BRhodium wallet. Thus, unlike Bitcoin forks, reliance on a third party to safely split it is not required. Consequently, when it starts trading in early April, if you choose to sell your BRhodium, you can simply send it from your online wallet to a supporting exchange, with no risk to your Bitcoin.
As for BRhodium’s use case, the reason I think it is viable for the long-term is because its first mover advantage in the “Bitcoin ultra-scarcity” space will likely create a network effect that will be difficult, if impossible, to replicate. BRhodium’s Discord chat room (https://discordapp.com/invite/ThVy5UB) is growing - and its development and marketing teams have been so accessible, and helpful, it truly feels like a powerful, strong-hands community is being built. But above all, they have come through with everything they’ve promised – in a timely, and investor-friendly manner. Clearly, their goals are aligned with investors’ – and equally clearly, they are taking their time to do it right…in many ways, using the failed methods of prior cryptodividends as a model of what NOT to do.
When trading is launched in early April, BRhodium’s early success will be dictated in large part by general cryptocurrency market conditions – as well as the development team’s success in listing it on reputable exchanges, and the security and user-friendliness of the BRhodium wallet. Irrespective, the longer-term investment case involves my belief that in time, it will be viewed as “Elite Bitcoin” to be BRODL’ed - that only the most privileged cryptocurrency investors can afford in size, but all will desire…like, for instance, Berkshire Hathaway stock, currently priced at $320,000/share.