Introducing Bitcoin Rhodium
A Unique Crypto commodity, For the Long-Term
In late 2017, amidst a surge in altcoin issuance – particularly, Bitcoin hard forks – our Europe-based development team decided to try something different. For one, we viewed hard forks, for the most part, as Bitcoin clones that would be difficult to discern from the real thing. Second, after the first two, Bitcoin Cash and Bitcoin Gold, none had been supported by major exchanges or wallets – making them nearly impossible to acquire; let alone, safely. Lastly, in a world where hundreds of new altcoins were emerging, it was becoming clear that without a viable, long-term use-case – that could be convincingly communicated to investors – the odds of significant price appreciation were extremely low.
First, we considered what other altcoins were doing – and then, what Bitcoin couldn’t do, given its ability to subsume nearly all vital crypto asset functions. Which is when we came up with the idea of “ultra-Bitcoin scarcity”; i.e., a coin with all of Bitcoin’s best features, and a lifetime cap of just 2.1 million, or one-tenth of Bitcoin’s; of which, roughly half would trade upon launch, with the other half to be mined by the public over the next 100 years. Additionally, we added a privacy feature, in our quest to create a crypto asset that would cater to large, long-term holders.
Next, we determined that the best way to build community was to distribute our coin, Bitcoin Rhodium – named for the relatively unknown; and by far, scarcest Precious Metal – via an “airdrop” to existing Bitcoin holders. By airdrop, we mean that unlike hard forks, there is no requirement for a third party to split and/or store the coin. Instead, proactive Bitcoin holders could claim BTR by “registering” non-zero balance public Bitcoin addresses from online and offline wallets in which they held their own private keys – like online Electrums or offline Trezors and Ledgers. By “signing” the unique message supplied by Bitcoin Rhodium, one could prove Bitcoin ownership without giving out their private keys; thus, enabling the receipt of FREE Bitcoin Rhodium in the subsequent claiming process – in one’s personal, online Bitcoin Rhodium wallet.
Finally, we aimed to create a “community” to foster long-term support, through the Discord chat room that we, the development team, actively monitor in a de facto “customer service” function – particularly during the airdrop process, which started in December, and will end March 31st. Through Discord, Twitter, and Reddit, we believe awareness of Bitcoin Rhodium’s “ultra-Bitcoin scarcity” use case has increased, to the point that we expect the launch, currently scheduled for late summer, to be met with significant investor enthusiasm. Ultimately, in the words of one of the project’s most well-known public supporters, we hope Bitcoin Rhodium will be viewed as “Elite Bitcoin” to be BRODL’ed as passionately as Bitcoin is HODL’ed.
October 22, 2018 – Bitcoin Rhodium’s development team announced that, after a year of exhaustive work, the Bitcoin Rhodium (BTR) MainNet was launched this weekend.