Bitcoin Rhodium - OTC trading

in #btr6 years ago

Bitcoin Rhodium was launched last week, and some OTC trading is currently going on in Telegram and Discord. If you went through all the trouble of registering and claiming for the Airdrop, and still want to sell, please consider waiting until it's trading on an exchange. Here is some text I posted on Discord earlier:

SUP kayak screenshot 2018-10-31 at 09.45.46.jpg

Before more people feel they should sell their airdropped BTR for dirt cheap here, please allow me to tell you why you shouldn't. As long as we are not on an exchange, there are just not enough buyers, so you're probably selling too cheap. I bought some BTR OTC myself last week, but after giving it more thought, I wouldn't do it again. Why?

  1. Any BTR you can own right now is custody bitcoinrh.org. Not your keys, not your coins. I assume it's all trustworthy, but before I buy more BTR with real money, I want to be able to hold my own keys (there was some discussion about this later on: maybe the keys were client-side generated, but as long as I need a website to use my coins, I consider that custody).
  2. There are many details about BTR that we can not know until the code is fully open source. I want to be able to check the code, and there are technical details I want to know before putting more money in, e.g. segwit, decimal places inside 1 BTR, replace-by-fee, scripting details, etc.

That's all OK for airdropped BTR, and I've even been mining from day 1, but putting real money into buying more is something I would rather hold off until the above points are cleared. I personally expect the price to be higher on the exchanges, and I'll be happy to pay that higher price when I can hold my own keys and when I know 100% what the source code looks like.

And then there is the whole concept of BTR being extremely scarce, which can very well work, and if it does, the current dump prices are just ridiculous in comparison. Yet, the above could explain why you can't find many buyers just yet at 'normal' prices.

So unless you're starving and need that pizza now, I think patience is a beautiful virtue.

Links:
https://www.bitcoinrh.org/
https://discordapp.com/channels/386050253616447490/386050253616447492
https://t.me/BitcoinRhodium_BTR
There is also another OTC group on Telegram, but since I'm not here to promote BTR OTC trading, I'll leave it to the reader to find that one :)

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