There's a lot of silly post on here these days with moon boys and people demanding to know when the price will hit a dollar but this is why I am an investor in Ravencoin so most of you are probably not interested but for those of you who are here are my thoughts on Ravencoin.
From an investor standpoint I love tokenization technology and I believe its going to lead the charge for the next wave of crypto adoption and Ravencoin I believe has more value than most because Ravencoin is designed with the idea of tokenizing real-world assets, property, collectibles, company shares etc. It was also designed to be based on Bitcoin code and launched in a similar way, this is important because bitcoin code has proven itself to be secure with a market cap of 1 Trillion dollars as of this week, companies are investing millions to billions to secure a digital asset, bitcoin. Ethereum on the other had has the capability but the design is left up to individuals or other projects, these projects can be hacked, their code exploited or a rug pull can occur where the admin takes all the money and runs. All these chains have been hacked and exploited but the code of bitcoin is the most secure, so Ravencoin inherits that code experience however the code has been altered to create Ravencoin and Ravencoin was recently exploited too.
The most popular decentralized solution afaik is the ERC721 token on Ethereum and it is gaining a foothold in the NFT world with NFT marketplaces like opensea, rarible and virtual world games that have assets for sale such as decentraland. Each of the aforementioned platforms have associated tokens ie RARI, MANA etc. Recently Enjin partnered up with Microsoft to offer NFTs for their minecraft game that will be tradable for real world value. Tron has NFT tokens as well I am sure Binance chain does too. LUKSO is also a new network launched by one of the core devs of Ethereum to tokenize digital fashions and real world fashion, it has some big names on their board too such as Nike and Chanel. Ethereum also has Synthetics, a project that allows you to create assets pegged to real world assets or events such as Tesla or expected rainfall in Seattle using oracles like in ChainLink that connect real world to the tokenized world. So the answer to your question is Yes there are competitors. Does Bitcoin have competitors for store of value and payment etc, yes, BCH, BSC, LTC. It is good to know competition in the market place and in my opinion value also is important and BCH and BSV have zero real world value.
Ravencoin is still only 3 years old, the project is new, as time passes the more secure it becomes as well as popular. There is a lot being built on Ravencoin today from exchanges for assets, to real world token sales for shares of property and even bottles of wine and collectibles. Ravencoin needs to build more asset exchanges, those exchanges need to be decentralized too, Ravencoin also needs a DeFi market place where people can speculate on assets, trade options or hedge risk but where we stand today it seems like Ravencoin is asset ownership 2.0 and an easier route to adoption for traditional modes of asset issuance so governments and institutions are far more likely to adopt. Easier route because government and institutions are stupid, they only adopt what they can understand, Ravencoin basically just put what they are doing on paper onto a block chain with the same abilities. More advance operations like using oracles, synthetics, derivative and options trading, liquidity pooling/mining will likely be built on top or wrapped up into Ethereum and it's already done with bitcoin so it will be easy to do with Ravencoin rather than another completely different blockchain like XLM.
Lastly Ravencoin is hyper speculative, I'm an investor because I see opportunity for exponential profit but that comes a risk of losing everything too and I am comfortable with that too. As a heavy bag holder I've seen my value down over 90% so be prepared for that also, we are in a bull market and crypto prices are at ATH, it's more likely they will go higher and this bull cycle may last another 6 months or 2 years but when it settles into a bear market prices will drop by huge percentages so don't invest what you can't afford to be without for the next 5-6 years.
So what do you guys think am I way off or do you have something to add?
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