Here we have the fifth "Skepticism Sunday" post for Ravencoin. I have started to try to pad out the FAQs as much as possible.

This post is for critically discussing any concerns people have about Ravencoin and its future. The idea is to strengthen the project by alleviating concerns, identifying flaws and hopefully organising solutions to them.

PLEASE NO PRICE DISCUSSION 🙂

There are more than enough posts talking about price.

This idea is borrowed from the Monero community and you can view the original reasoning behind it in this post.

Why a weekly post for this?

This weekly post isn't meant to replace or dissuade people from making individual posts of their concerns about Ravencoin. Rather, there are plenty of small concerns/talking points that perhaps aren't discussed on the subreddit as people don't believe they warrant a standalone post. It seems a lot of these smaller questions are asked over on the Discord server but get eventually lost in the chat history; a weekly post is easier to archive and look back on as well as giving more people a chance to respond. Again, the intent is to ask difficult questions, identify potential problems and strengthen the project.

Participation

• Read the whitepaper first. A lot of the basics of the project can be found here.
• Post your concerns and thoughts below.
• Be constructive. Please avoid low quality posts.
• If you have an opinion about something that someone has written then please feel free to reply; you don't have to be an expert or a developer.
• If possible, try to think of an upvote as "I think this is a valid point that needs to be discussed".
• Please refrain from discussing price (unless relevant).
• Lastly, keep it respectful!

Resources

• Again, the Ravencoin whitepaper.
• Ravencoin wiki.
• Original Ravencoin announcement on Bitcointalk
• Ravencoin Foundation blog.
• Ravencoin asset explorer.
• Great twitter thread of recent Ravencoin news by /u/Jeroz_

FAQs

Q: "What is Ravencoin/what makes it different?"

A: "Ravencoin is a code fork of Bitcoin, fair launch, proof of work mined chain with an asset aware protocol that allows users to easily create and manage unique digital assets. That’s it."

To learn more. Read the whitepaper.

Q: "What are people doing to promote RVN?"

A: Check out the Ravencoin foundation (their blog can be found here).

Q: "Ravencoin sounds awesome in theory but who is using it?

A: Have a look on the front page of the wiki.

Q: "Who is the owner of the wallet that contains 42% of all RVN?"

A: Check out this post.

Q: "When will Coinbase list Ravencoin?"

A: Coinbase requires the "Rosetta API" to be implemented. Work has been started on this on the 17th of April 2021 and is ongoing. You can see the progress here. Once done, Ravencoin can be listed.

Q: "Will EIP 1559 make Ethereum miners switch to mining Ravencoin?"

A: Potentially. Redditor /u/ancymon85 recommended this video to understand more about the potential switch from ETH to RVN.

Q: "500 RVN for the creation of an asset seems quite high. Will this be changed? Can't it be linked to fiat?"

A: For an answer to this I would highly suggest reading Tron Black's post regarding this. He goes into detail about each suggestion that was proposed and lists the pros and cons of each.

Mining questions

Q: "Can I mine ETH and get paid in RVN?"

A: Yes! I would suggest MiningPoolHub or something similar. This is a mining pool auto-exchange, meaning you can mine one coin and get paid in another.

Q: "Is it not better to mine RVN directly?"

A: It depends on your priorities. If you want to get the most amount of RVN possible then mining ETH and converting it to RVN is probably for you (your mileage may vary). However, although potentially less profitable than mining ETH, by mining RVN directly you are supporting the Ravencoin network and getting paid at the same time.

Q: "Does Ravencoin have a "One Click Miner"?"

A: Not yet! If the author of this post has any time then they will try to start work on a GUI for Kawpow miner asap. In the meantime, getting the Kawpow miner to work is generally just a question of writing one line in a BAT file and double clicking on it. This guide might help you.

Q: "Is mining Ravencoin profitable for my card?"

A: More than likely, yes. Ravencoin can be mined with most cards, even ones with 4GB of memory. Go to What To Mine and select your card there to see expected earnings. (Please note, your card might not be on that website but that doesn't mean it isn't profitable or supported. Instead, have a look at a similar powered card to get a rough idea of the profitability.)

Unanswered Questions

Two weeks unanswered: "Ok a simple question from a noob about future use. How is it different from XRP for money/asset trasfer? I know that with RVN one can make some digitally signed physical items. But that's also coming to XRP, right? Just wondering on the specific use." – /u/pawcisq

Previous Weeks

Week 4

Week 3

Week 2

Week 1