cryptokitties and why I'm doubling down on my raiden (RDN) investmentsteemCreated with Sketch.

in #cryptocurrency7 years ago

Cryptokitties have clogged up the ethereum network to the point that it's unusable. The common sentiment seems to be negative and is reflected in etherium's price action. But I tend to disagree.

  1. cryptokitties used ethereum as their platform, over all the other dapp platform coins (neo, Ada,qtum etc). If btc is King eth is prince, and while they serve different purposes, ethereum has the first mover advantage in its respective market. This is a big deal, as one can argue some of the other platforms like neo have superior technology, cryptokitties went with ethereum because at this point it's as close to a "brand name" in crypto as everything other than BTC.

2)If crypto is being dubbed the internet 2.0 (or 3.0 or pending the coin lol...) I think it's fair that its inception will have some bumps along the road. Remember AOL, dial up connections, 1 hour download times for songs on Napster etc. That's where we are with crypto right now(if even)... We've come a long way, yet so much room to grow.

  1. The issue with eth is scaling, the network cannot handle the volume. Raiden (RDN) essentially solves this by allowing microtransactions on the eth network. Scaling is a very big problem right now and raiden offers a very good solution. It has other value propositions as well, but I think this is the one that will ignite raiden fuse over the next few weeks/months.

  2. The only big exchange it's on right now is binance. The rest are very low volume. It also appears the price is being suppressed by whales when looking at its price action and order book - something common when a coin is on limited exchanges. That being said, as more exchanges adopt raiden, the higher the price will likely go, especially when it hits the Eastern exchanges.

  3. At time of post it's at a very nice discount, a healthy 50% correction (roughly) from it's all time high. IMO now is a great buy opportunity, whilst most the community is bearish on eth over cryptokitties, raiden is the solution hiding in the background. The team hasn't done extensive marketing (their progress on the raiden mainnet has been blazing), but I think once they finish their tech development and start marketing, this coin will not be in the background anymore, folks will see its value and potential and that will be reflected in the price.

So with that in mind im investing now before the masses and while it's cheap, and I think it's a coin you should consider taking a look at at the least.

-best

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100% Upvoted and ReSteemed friend, your blog will be huge in the future if you keep putting good info like this out! Thanks again!

Thanks man

Nice post I follow you but follow me and Upvote my posts please !

Sure thing friend, thanks for the reply

Your post has been resteemed to my 2800 followers

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