5/09 ANDY HOFFMAN (CryptoGoldCentral.com): BRhodium – Part of Its Value is NOT Being a Bitcoin Fork!

in andyhoffman •  7 months ago

I continue to marvel at the hatred BRhodium receives – which for the most part, I attribute to jealousy…particularly Bitcoiners who never heard about the FREE airdrop, didn’t bother to claim it, or made mistakes in doing so. The fact is, that contrary to JW Weatherman’s claim that all altcoins “compete” with Bitcoin, BRhodium has its own, unique use case that, in my view, will be heavily sought after by the investment community.

Propaganda and FUD are mainstays of the cryptocurrency community. In BRhodium’s case, the top source of such misinformation is the relentlessly espoused lie that it is a Bitcoin fork. True, it has adopted the Bitcoin name to strengthen its brand, and many of Bitcoin’s best features. However, it is a brand-new altcoin, with its own, unique code – which in and of itself, makes it more valuable than Bitcoin forks.

When many Bitcoin commentators claimed 2018 would be the “year of the Bitcoin fork” I pushed back, due to my belief that the diminishing returns from BCash to BGold, BDiamond and others were glaring; and thus, the more Bitcoin clones created, the less they’d be worth. Which couldn’t have been more prescient – as not only did Bitcoin forks perform horribly during the late January to early April bear market, but the late December to early January bull market

In BRhodium’s case, unlike Bitcoin forks, its developers have had the gargantuan task of creating a new coin – which according to my best estimate, will be launched in the next month or so. Much more effort is required to build it than a simple Bitcoin fork - but when completed, the final product has its own identity and community. And in BRhodium’s case, its unique code is arguably as valuable as the Bitcoin “ultra-scarcity” it created – per the following comment from “bolsen” in BRod’s Discord chat room.

The "use-case" is rarity, specifically that is hard to replicate along with qualities in the software systems that secures transactions. BTC has managed this – and I expressed ambivalence over LTC because it is not BTC in the end. BTR should fill that gap; i.e, quality code plus a long-term story about its market. People trying to find ‘use-cases’ in coins are searching for phantoms. Market plus quality codebase plus sound-money coin properties IS the use case. (BTC today and tomorrow, BTR tomorrow)

I have thought about this a lot, but it is easy to see a software system's use-case values on its surface. However, the system itself, proven as value-creating is part of the value proposition. Good engineering is not a side-effect, but a property, a part of the product. I keep reminding myself that when I must rush out code myself. It's a feature that double-spend prevention is done right, and the knowledge of concurrency and cryptography is applied in such a way. It's a make or break scenario.

In other words, while Bitcoin forks are likely dead forever, unique altcoins with viable long-term use cases; distributed via airdrop; have the potential to be big long-term winners.

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I think this is an interesting project, but how can we be sure of their "quality codebase" ? Where is your optimism coming from? Anyway I will follow this story with great interest.