A year ago, altcoins were the focus of perhaps he largest, most egregious bubble in financial market history. Much like the dotcoms, 99% of altcoins were created SOLELY to capitalize on the (well-deserved) hype created by the internet’s emergence; which I know more than anyone, given that, as an oilfield service equity analyst at Salomon Smith Barney, my investment bankers ORDERED me to spend the second half of 1999 manufacturing oilfield related dotcom IPOs…all of which, ultimately failed. Too bad I can’t find a link to the “Bubba 2 Bubba” report I was FORCED to write – which I presented to a room of 200+ people in Houston, at the height of the frenzy in February 2000.
A year after crypto peaked, the “double dog years” pace of crypto development has revealed that in fact, 99% of altcoins have ZERO use case – particularly as Bitcoin can do essentially EVERYTHING they claim to be able to do. That includes Ethereum, by the way, and all the “platform” coins investors pray to be revived. If a new bull market starts today, most boats will still be floated, of course. However, over time, they will slowly but surely lose ground to the ones demonstrating viable, defensible use cases.
Among the most egregiously overhyped altcoins were the Bitcoin forks – starting with what in any other business would be considered a criminal enterprise…BCash. BGold, BDiamond, Super Bitcoin, Lightning Bitcoin, and countless other forks were spawned; with essentially ZERO work or support behind them; with NONE demonstrating ANY reason to exist…other than to dump for Bitcoin, which is exactly what I did with the SAFELY splittable ones, and wouldn’t even attempt to try with the rest.
Why ANYONE would own BGold, BDiamond, and the 2nd tier Bitcoin forks is beyond me – as quite literally, they are NOTHING but poor Bitcoin clones. And yet, STUPID investors still afford them material market caps – particularly BGold, at roughly $260 million.
That said, the HUGE pink elephant in the room is the FACT that, despite relentless blustering, propaganda, and fraud from their high-profile, but increasingly disgraced “leaders,” BCash and SV not only are technically flawed (big blocks CANNOT scale), but quite literally, NOT A SINGLE BCASH OR SV TRANSACTION HAS EVER BEEN EXECUTED FOR ANY REASON OTHER THAN SPECULATION. In other words, the so called “real Bitcoins” do NOTHING, just like BGold, BDiamond and the rest.
In the wake of the crypto carnage – much of which, was catalyzed by the CRIMINAL ENETERPRISE BCash and SV – investors are becoming more discerning; with each passing day, realizing ONLY coins with viable, defensible use cases are worth investing in. Which means, that those that do will rapidly move up the CMC ranking tables - even more so, if a new crypto bull phase commences…which is why, last week, I predicted BRhodium will be a TOP TEN cryptocurrency, by market cap, by the end of 2019.
However, now that I see how rapidly, and powerfully, its network and community are developing – ORGANICALLY, based on a full year of hard work and perseverance – I am setting my sights higher. Which is why, I now predict that by the end of 2019, not only will BRhodium be worth more than BGold and the rest of the Bitcoin fork fodder (remember, BRhodium is NOT a Bitcoin fork), but the criminal enterprises BCash and SV as well.
Even after today’s massive price rise, from roughly $13 to $22, BRhodium still has an implied market cap of just $16 million, or 6% of my INITIAL, NEAR-TERM price target of BGold’s $260 million. Consider that BCash and SV have market caps of $3.0 billion and $1.6 billion, (dis)respectively, and do the math I’ve been shouting from the rooftops about all year!