Glad you're here. With all the talk of what has pumped & dumped, the future price of BTC, and all the other happenings in the crypto space post halving. It seems there's more to discover. A lot more. Let's begin. Journey to 1000x - Vol. 1.
Recently I had this conversation with my friend about how BTC viewpoints are changing. When you have someone like Paul Tudor Jones come out and say 2% of his portfolio is in BTC "as a hedge". You know something is up.
Then recently Fidelity Investments has come out with language around $1 Million BTC prices. Granted it wasn't about price prediction specifically, but rather about the model used.
Still the point remains that adoption, acceptance and understanding (maybe not in that order) is occurring. At what pace and scale remains to be seen.
In Another Conversation
While chatting with a colleague the topic came up of how to look at different blockchain projects and I proposed that we take some time and look at a certain number of projects every week or as they come up. In that "look" we are in search of what makes an undiscovered 1000x project.
When you look at YouTube, Twitter, Telegram, or just about anywhere else there is quite the hype with comments where someone says "hey look at this or that". I've been guilty a time or two caught up in the hype of the moment to give out my 3 letter preference.
At the end of the day, I don't act on it, but rather use it as another data point in Doing My Own Research.
Since I have been on Publish0x, there has been an amazing amount of content creators who are making incredible content. It is truly a joy to consume as well as be a part of.
So in this VOLUME #1 of the Journey to 1000x, I hope there is value for everyone and a place for discourse and analysis.
PARAMETERS: Now just so everyone is starting off on the same page. The pool that I am looking into is where there is high risk, but just down right interesting projects, so let's clarify this a little more;
- Market cap of approximately $1 - 10 million USD.
- Price of $0.0001 - $0.01
- Focused on a market of interest (DeFi, Gaming, Supply Chain, Energy)
- I'll leave one category open for the unicorn that happens to saunter by.
Lastly, this is a no "bullshill" zone. I have no desire to, nor for anyone else to engage who is out to enhance their own position at the demise of others. This is not financial advice and everyone needs to do their own research.
Let's Dive In
The project that I am looking at today is the Rapids Network (RPD). "Blockchain at the Power of Your Fingertips". There's many areas to start from, in looking at RPD.
One of the most recent happenings with RPD is the release of their mobile wallet, but in general let's take a broader look. RPD has a multi-pronged approach that covers gaming, TipBot development and a payment system that utilizes social media platforms.
To take an efficient and valuable look at RPD, let's cover a list of areas that should help us make better informed decisions
- Baseline Data & Story
- In the Current
Baseline Data (+)
as of 28 August 2020:
With a marketcap hovering near $1 million it is prudent to say that RPD is early in the journey. 2020 seems to be the year in which they have started to really kick things into gear.
The team appears to be a great group of folks and there is more than this first row listed on their team page (link in image). Interestingly enough there is one nugget I found very informative on the team page that says:
The Rapids team is comprised of specialists and professionals from a multitude of disciplines and numerous cryptocurrency projects. We have all taken our previous experiences from our former projects and applied the advantageous approaches to the Rapids project while excluding the methods we opposed. We all have a vision, and with the help of the community, we will achieve our goals cooperatively.
For whatever reason this statement resonates with me. It has that feeling of something my grandmother always used to say; "take the good and leave the rest".
So in a non Newtonian physics kind of way, what we see is a reflection of ourselves. So if that quote resonates with you then there is something you identify with. If you don't then there isn't. Simple enough...
Now when you dig into the WHITE PAPER you can see right from the get-go that Rapids Network is geared toward operating in a familiar way to social networks to leverage that understanding and capability. On page 8 of the white paper this infographic gives an informative view of the RPD ecosystem.
If you go into the white paper itself you will see on the next page a more detailed infographic of a potential flow from user to user. It takes this graphic from page 8 and begins to bring it to life.
Out of this whole process another appealing nugget is that much of this work is completed through the user's social logons. Similar to the same way you might be looking at Unstoppable Domains and connecting a wallet address, you start to see the beginnings of this with the Rapid Network.
When we look over the last 6 months at the data available from Coingecko, there is synchronicity with the larger market movements. Plus, I find it more helpful and informative to see what was happening int he view of candles.
Now when we look back further, this is where we can really see that the project is very much still in the beginning phases of whichever direction it is taking.
If you compare both of those charts to the price charts you see consistency for the most part, which I would expect to see.
Overall, there is nothing that jumps out on the charts that screams explosion, BUT there isn't something that screams in the other direction either. Overall, I say there is unrealized opportunity.
In The Current (+)
When a project is moving in the current of the river where every other project that exists, is in development or in the creation stage, the moving parts to the process can seem over whelming. This is a perfect time to look at the project's road map.
Looking all the way back to 2018, you can see the project has hit all the marks it set out to achieve. A couple were retargeted for this year and have been completed.
This year you can see the mobile wallets are available as well as the Tipbot is receiving an upgrade. A quick recap of previous years accomplishments include:
- Mainnet Launched
- Listed On At Least 2 Exchanges
- Reach 4,000 Members
- Release Of Desktop Wallets
- Masternode Partnerships
- Develop And Implement Tipbots
- Release New Website
- Establish Initial Partnerships
- UI UX Design Of Mobile Wallet.
While there is always more to do, this project has been making steady and continued progress.
Lastly, this section is for those topics that could have their own topic but sometimes are just better left to their own devices. One of the interesting features of the Rapids Network is 2 fold. First is how do you accumulate RPD. The second topic is what do you do with it next.
So where do you go to exchange for RPD? The Rapids Network site lists several sources where exchanges can take place. I recently wrote a brief review on one of them that was listed. You can see that review here;
Overall, in my opinion InstaSwap seemed to be a good choice for acquiring RPD.
Now on to the second topic. This could actually be an entire article all by itself, but I'll keep it a short overview for now. When you find yourself with a bag of RPD, you might be thinking where you can stake, or if you have enough to enter the realm of masternode and host pools. At the time of writing the level of investment needed for a masternode is 10,000,000 RPD which is approximately $1,000 give or take.
I have not been able to check out every one of these but the three that I did look into included;
All three have solid options that you can look into and see if they work for you. I found Evonodes ability to automatically plow returns back into the principle on an 8 hour timeframe as opposed to 24 hours quite interesting.
Well Now Your Work is Just Beginning! Rapids Network is still at the front end of a might climb ahead. You may notice more social engagement along with announcements that seem really in tune with a company that is about to do something really great!
NOTE: Be sure to check out my Twitter feed for notifications when new articles and other content becomes available.