When the Bitcoin Rhodium project was launched in December 2017, to be a niche store-of-value altcoin with a unique, non-forked blockchain, it sought to discern itself – and ALLY itself with fellow “crypto trinity” partner Bitcoin - by being the first altcoin to be distributed primarily via FREE BTC airdrop.
After ten months of painstaking work, to BUILD something unique rather than FORK it off, XRC’s MainNet launched in October 2018. Of the 840,000 XRC allocated (from the 2,100,000 lifetime cap) for airdrop, 257,000 were not properly claimed. Initially, the anonymous dev team planned to distribute them to institutions friendly to cryptocurrency –specifically, Bitcoin Rhodium. That is, until one of the most brilliant ideas in altcoin history was concocted – to distribute them as an in-kind dividend to wallets that, over specific time intervals, do not experience negative balance changes. Consequently, the “Strong Hands” program was launched, in December 2018.
Initially, the plan was to split the 257,000 XRC into eight tranches of roughly 32,120, to be distributed at the end of eight annual periods. The first snapshot was January 1st, 2019 – but due to popular demand, the program was changed from annual to quarterly at the end of the first quarter. In other words, instead of eight annual payouts of 32,120 XRC, there would now be 32 quarterly payouts of roughly 8,030 XRC.
This was a brilliant marketing move – as each quarter, just ahead of the new wallet “snapshot,” there will likely be fresh demand to buy, to participate in the coming quarter’s Strong Hands dividend. Given the way it’s set up, if more people sell, those who “BRODL” get more Strong Hands rewards – whilst conversely, if few people sell (presumably, because price is rising), the quarterly payout is smaller. To wit, the first payout, just after March 31st, yielded 1.43%, or 5.72% on an annual basis.
TRUST ME, there is no more powerful force on Wall Street than compounding. Thus, those holding significant XRC positions over the entire eight-year life of the Strong Hands program could see exponential account growth. And TRUST ME, if there’s one thing Wall Street seeks – like a heat-seeking missile – it’s YIELD…particularly in a sector where for all intents and purposes, not a single altcoin yields ANYTHING!
XRC’s use case was viable and defensible BEFORE Strong Hands was launched – and with it, it’s uniqueness, and desirability, are so powerful, I believe it will be a top 50 coin within a year’s time…perhaps, much sooner. Remember, it is the devs’ TOP PRIORITY to list on MAJOR, CMC-endorsed exchanges – that may well include some of the exchanges it CURRENTLY lists on, if CMC reveals that p2pb2p, Whitebit, or others complied with last week’s DATA Alliance ultimatum.
As for the upcoming Strong Hands snapshot, it will this quarter be on July 7th instead of July 1st – the reason being, the expectation that before then, Trezor will publish its next firmware update, incorporating XRC support. At which point, the XRC devs decided to grant a one-week grace period for XRC holders to migrate positions from their web and Electrum wallets to Trezor.
As it turns out, a minor firmware update was published two weeks ago, incorporating XRC into Trezor’s Model T platform. However, the long-awaited comprehensive update – in which, XRC support will be incorporated for the more widely owned Trezor One – has not yet been published. If it is published after July 1st, presumably the XRC devs will grant a second grace period at the end of the second quarter, to enable migration of XRC balances to the Trezor One.
Do NOT underestimate the power of compounding; or the desire of large, institutional investors – retail ones, too – to hold investments that YIELD dividends, particularly in a world devoid of yield from any other source. Consequently, it is my view that the day Bitcoin Rhodium’s Strong Hands was created, it all but assured it will ultimately have AT LEAST a nine-digit valuation, compared to its current market cap of roughly $15 million.
Bitcoin Rhodium currently trades on p2pbp2.io, Trade Satoshi, Fat BTC, Sistemkoin, Bisq, and WhiteBit. If you have questions about anything XRC-related, including OTC trading, please email me at ahoffman@cryptogoldcentral.com, or DM/PM me on Twitter or Discord.