One of my first articles at CGC, in September 2017, was titled “Trillions will enter the crypto space – perhaps, half in Bitcoin.” At the time, I was 100% invested in Bitcoin – as close to a “maximalist” as one could get (to the point that I became an on-air personality on the World Crypto Network) – mostly, given BTC’s superior reward/risk portfolio. Then again, few altcoins existed until then – when Bitcoin’s, and Ethereum’s, breakouts yielded an explosion of altcoin issuance.
I knew very little about altcoins at the time – and the only one I had owned materially was Litecoin, which I sold as soon as BTC SegWit locked in, and the first Bitcoin fork (BCash) was scheduled. The reason being, I didn’t see any more value Litecoin could add – given its 4x supply, tiny hash rate, and inability to generate dividends.
By the time Bitcoin peaked, it was roughly 95% of my liquid net worth – which is why I felt it necessary to place stops under the then “Hoffman Line” of $6,000. So, when it finally bottomed, and demonstrated a new bull market had arrived, I bought back in enough that if it succeeds, I’ll be set for life…but if it doesn’t, I’ll have cash savings to fall back on. After all, unlike perhaps 80% of crypto owners, I’m a Gen X pushing 50 years old, with family planning to consider.
Moreover, I learned a lot about altcoins in 2018, watching the market develop and becoming a major part of the Bitcoin Rhodium project…not as a “dev,” but a holder of the FREE XRC airdrop, who got to know the (anonymous) devs, and believe the coin had a viable, defensible use case. To me, it is has more store-of-value properties than any other coin – being scarce, dividend-paying, proof of work mined…and soon-to-be private, and part of the Free Market One decentralized trading network.
Just as Bitcoin took several years to catch on, Bitcoin Rhodium – now, within weeks of its one-year MainNet anniversary – will in my view, at some point catch on in a big way. It already has significant followings in the U.S., Europe, and Asia – and was just taking off, mere months after releasing its code publicly, when the altcoin sector peaked in June. Altcoins WILL return to favor again when the BTC bull market returns – though this time, investors will be FAR more discerning than in the past.
Next, there’s MWC – which came about, because Lead Dev Chris Gilliard followed my work on Twitter (never a negative thing to say), and found the airdrop and HODL dividend aspects of Bitcoin Rhodium interesting. The fact that, unbeknownst to me, he was a brilliant coder with a deep knowledge of crypto mechanics – who understood VERY early how revolutionary MimbleWimble was, was pure coincidence.
In May 2018, I made the CGC blog free, and changed my M.O. to “professional cryptocurrency consulting” – but ONLY for coins that met my incredibly strict criteria of standards. Many coin devs contacted me, but ONLY MWC piqued my interest – so much so, I IMMEDIATELY joined the project when Chris contacted me in January. Since then, brilliant people have joined too, to build the code, market it, and professionalize its presentation. In my view, MimbleWimble IS the future of blockchain protocol – and when its MainNet launches next month, MWC will be by FAR the most investable MimbleWimble coin.
Finally, a word of praise for Nexxus (NXX) - not Nexus, a coin I received back in 2017 for participating in a series of podcasts by its team to spread the word not only of Nexxus, but crypto itself. In its former life, back then, it was attempting to be a token used for a broad network of crypto educational products – that slowly died off, given the 2018 crypto bear market and a general lack of interest.
However, I never lost sight of the fact that the team behind it – which was NOT attempting to create a decentralized store of value, but a new way of doing BUSINESS – had some heavy hitting mainstream executives in it. Thus, when I learned last month that it had re-incarnated, as a deeply organized attempt to create a digital Groupon competitor, I took notice. And lo and behold, later this month, it will have its “Initial Exchange Offering,” or IEO, on the Korean Probit exchange…that potentially, could be a form of new-age finance that ultimately, usurps stock and bond offerings. This story has some SERIOUS potential, for entirely different reasons than nearly all other coins.
As for the rest, I think I’ve made it clear that AT LEAST 98% of the current crop of altcoins are useless – particularly ERC tokens, and Proof of Stake coins with no intrinsic value. I expect nearly all to fail, but a handful of big winners to emerge – many of which, have not been created.
Again, my BIG PICTURE view of crypto is that it will become a MASSIVE asset class, usurping the functions of legacy assets from stocks to bonds, gold, and fiat currencies. Thus, whilst King Bitcoin will dominate, a handful of others (likely, several handfuls) will be amongst the biggest winners in investment history.
Right now, I believe Bitcoin Rhodium and MWC have as strong a chance as any to be part of this group – and if Nexxus carries out its vision, that would be icing on the cake. As for the rest, due your due diligence – as the sector will have far more losers than winners. But I assure you, MOST of the world are not maximalists, so there WILL be major altcoin winners…and MANY of them.
Bitcoin Rhodium currently trades on HitBTC, Changelly, p2pb2b.io, WhiteBit, Trade Satoshi, Fat BTC, Sistemkoin and Bisq. If you have questions about anything XRC-related, including OTC trading, please email me at email@example.com, or DM/PM me on Twitter or Discord.
The MWC airdrop registration ended July 19th, with MainNet launch tentatively scheduled for November 11th, 2019, and claims on December 11th, 2019. A total of 148,474 Bitcoin registered – roughly 1% of the entire BTC float - yielding an MWC/BTC ratio of roughly 40.41. For more information, please check out the MWC website, Discord room, Twitter feed, and Telegram Forum.