Now that the BRhodium claiming process is over, we are likely within a few weeks of the public trading launch. In the coin’s Discord chat community, its proactive, English-speaking developers continually give updates – the latest being, that they are currently focusing their efforts on network security and mining. Thus far, they have come through on everything they have promised – and consequently, I have no reason to believe they will not secure exchange support for a public launch later this month.
As a high-profile Bitcoin Maximalist, people get angry if I say ANYTHING positive about ANY altcoin. However, while I will not, as a personal policy, purchase altcoins, that doesn’t mean there aren’t ANY I have a positive view of…particularly ones I receive for free, like BRhodium. Heck, even the ultimate Bitcoin Maximalist, Saifedean Ammous, wrote a few weeks back “there is nothing wrong with a centralized competitor to Bitcoin,” so long as it doesn’t pretend to be Bitcoin 2.0.”
That said, BRhodium – which is NOT a Bitcoin fork, but a new coin with unique code - is not “competing” with Bitcoin for anything…but instead, offering the one thing Bitcoin cannot; i.e., “ultra-scarcity,” given that it’s lifetime supply cap of just 2.1 million coins, which will take 100 years to be reached, is just 1/10th that of Bitcoin’s. In other words, “Bitcoin Maximalism with a Twist.”
As someone who believes Bitcoin is the new “gold standard” of global monetary value; after having been a leading global commentator on why gold held that title for 5,000 years; I have a unique perspective on monetary value…that has dominated my personal and professional life since 2002. To that end, I believe several factors make BRhodium the only altcoin offering true monetary value; which, once the market becomes comfortable with the safety and stability of its network, will likely be reflected in a healthy valuation – both absolutely, and relative to Bitcoin.
In my view, this will be particularly apparent during bear market periods like we are experiencing today – when BRhodium’s scarcity, and monetary value, will make it more attractive than the vast majority of altcoins.
Moreover, as the first altcoin to be distributed entirely via an airdrop to Bitcoin investors; which again, is NOT a Bitcoin fork; I believe the “first mover” advantage it will be attributed – as the first airdropped distribution, and the first with the ultra-scarcity use case; will not be repeatable. In fact, it may well catalyze the beginning of the future of cryptodividends - in the form of airdrops…and conversely, the end of the Bitcoin fork.
Throw in the privacy features its developers are incorporating; plus, the trust engendered by the care taken to ensure as many people as possible received the BTR they deserved, and we’re talking about a potentially very strong community of “BRODLers.”
However, what excites me most about BRhodium is that the distribution method ensured the majority of the float will be in the hands of large, long-term Bitcoin HODLers; i.e. whales who are already wealthy, with a significant understanding of financial markets and little incentive to sell. Thus, its effective float will be miniscule – making it very difficult to acquire large positions in without dramatically moving the price.
Moreover, given its equally miniscule “shares outstanding” – of no more than 1.0 million at the time of launch; I expect it to be the highest-priced cryptocurrency…second only to Bitcoin itself.
In other words, characteristics the investment community may come to view as those of an “Elite Bitcoin” – which only wealthy investors can afford significant positions in, but all will want “a piece of”…
…particularly in a post Crypto-Crash world in which altcoins; and particularly, cryptodividends; need to discern viable, long-term use cases or die…
The way I view it, the most “elite” stock in the world is the Berkshire Hathaway “A” share – currently trading at $295,000/share, with a market capitalization of $450 billion. While I am in no way comparing its blue-chip stock portfolio to the nascent BRhodium cryptocurrency, I’m merely pointing out the fact that the psychology of what makes it so valuable, and cult-like, is identical to what BRhodium’s investor psychology could morph into - given a sufficient amount of time and a strong cryptocurrency market.
There’s no way of knowing if this will indeed occur, of course – and for those receiving it for FREE, there’s no “cost” associated with finding out. To that end, I am in no way “pumping” or “shilling” for BRhodium – but instead, pointing out to fellow “BRod” holders that under the right set of circumstances, it could end up being the “Berkshire Hathaway of altcoins.”