My One-on-One with JW Weatherman yesterday caused quite a stir - and taken the Bitcoin Maximalism debate to a whole new level. On nearly all counts, I agree with him – particularly, those related to political, social, technological and monetary issues. In fact, you’d be hard-pressed to find a bigger Maximalist in the #Bitcoin community – which I back up with my 100%/0% ratio of Bitcoin/altcoins. To that end, the only altcoin I ever owned, Litecoin, I sold last summer for Bitcoin – when I couldn’t think of a single reason why it would outperform Bitcoin over the long-term…let alone, when incorporating the “yield” Bitcoin would garner from cryptodividends.
In my view, nearly all altcoins are blatant money grabs from those seeking to capitalize on Bitcoin’s success; and to a lesser extent, Ethereum’s. Some are pump and dumps; some didn’t start out that way but became such; and some are outright scams – particularly, many ICOs. That said, I disagree with one aspect of JW’s stance – as in my view, many “cryptocurrencies” are in effect, simply seeking to create attractive; albeit unregulated; “crypto securities.”
Thus, when I say a cryptocurrency must have a viable long-term use case to succeed, I don’t mean as a “competitor to Bitcoin” – which in the digital gold space, is for all intents and purposes impossible. Instead, I’m simply referring to an altcoin’s price to appreciate over time if it possesses a feature deemed valuable. In other words, a “security”; to be analyzed as such, outside the philosophical realm of “money” – which may or may not be “related” to Bitcoin via fork or airdrop.
In BRhodium’s case, I am simply praising its developers for creating the first cryptodividend that, in my Wall-Street-honed view, has a viable long-term investment case…as a security, not a “competitor to Bitcoin” or “silver to Bitcoin’s gold.”
Remember, Bitcoin holders are getting BTR for free – through an airdrop that has ALREADY been delivered; did NOT require exchanges or wallets to split it; and did NOT require you to buy something else – like ZClassic, at record high prices – to get. Thus, I am not “pitching” it, but simply pointing out that, from the view of a BTR holder, it’s long-term use case of “ultra-Bitcoin-scarcity” is something I expect investors to find attractive – particularly, compared to the sorry lot of Bitcoin clones before it.
If you choose to sell your FREE airdropped BRhodium, that is your prerogative – which you will be able to do instantaneously upon its scheduled trading launch in early April. That said, if you hold it, I believe it’s something with the potential to be a big winner over time…as a crypto security, not a competitor to, or replacement of, the only true cryptocurrency.