I am still bullish on Ravencoin 2022
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Most miners will always look for what is best for them at the moment but not for the future, their loyalty is to the highest bidder. Big chunk of miners has sold their RVN holdings to acquire Bitcoin Satoshi or get more fiat because it was “The most profitable coin at some point in time”, this mentality lead me to believe that many miners have booked profits across the board, and I know that there are many loyal raven miners especially you who don’t have much but an honest work GPU dude! Having so many miners on a coin with this mentality is very bad for the coin(s) future. This is why the rewards dwindle over time to separate wheat from the chaff. All the big spikes that we witness comes from Investors/Retail, miners secure the network for a fee. (Price appreciation is a plus if the stack). Exchanges, Retailers and Investors have absorbed selling pressure leaving Ravencoin at 0.095 as of this writing. They say that the halving was “Priced In”, so many miners/traders were expecting a drop of BTC so they’ve decided to sell high at 0.14 down to 0.08. The only hike we got is to go against the BTC current to 0.12Xcents and many miners sold after when they realized that there won’t be a spike after Ravencoin halving. This also coincided with the negative technical analysis for the price dropping below 0.11 cents support and negative fundamentals that the Federal Reserve will taper. Despite that the analysis for a bullish 2022 Ravencoin are even stronger to me not (you). It’s a blessing in disguise that after the halving the price didn’t gap upwards, we now got rid of tourist miners who are chasing instant yield by going to Flux, Ergo, or whatever makes the most buck. They helped to bring the difficulty down on the KawPow network. In the future they will have less and less selling leverage on the coin as the power moves to the hands of retailers and investors. Predicated on that I now believe that Ethereum will jump to double when they announce that they are going 100% Proof of “Ownership” (Stake to get interest on ETH) if the insiders don’t sell and consolidating ETH in the hands of retailers and investors. My only problem with ETH is that it has Central Authority and Staking. Eventually, Bitcoin and Ravencoin will go 100% proof of ownership. BTC is 90% there, and Ravencoin is no longer a new coin anymore with 50%. On the time horizon everything goes to full ownership. All those Bitcoin miners are competing to confirm transactions just to get a satoshi cut, they didn’t compete that much when they could get a full bitcoin. Mining is only good and efficient as long: 1- The price is low. 2- The coin is in the early stages. For the hardcore Ravencoin miners they will need to compensate on the price increase down the line by adding additional rigs. If the difficulty and the price is low, there is no need to add extra rigs for now. This is the chart Epic article written by Tron Black 8 years ago posted by Funkoma https://letstalkbitcoin.com/blog/post/bitcoin-value-and-mining-difficulty and 3 days ago the halving chart to full owner ship I posted here: https://www.reddit.com/r/Ravencoin/comments/s0ye3a/stay_positive_and_strong/ “Us” the Ravencoin shareholders we will have our moment; this is the full Bitcoin experience replicated by the book for us but cheaper and more efficient. Be patient and give time to traders to work through charts…. there are traders/miners who wish to see Ravencoin fail! If we compare the price of Ravencoin to 2013BTC it’s now at $100, Undervalued to the core. PS: Vote Results: North America wins by most of the votes, South America, Africa and the Middle East have the least exposure to Ravencoin, we need to promote it there. https://www.reddit.com/r/Ravencoin/comments/rwq5li/which_community_mineshas_most_of_ravencoins_vote/ Photo illustration: Soohee Cho/The Intercept Believe……. Kilo Alpha Whisky! submitted by /u/Cultural_Traffic_321 |
