Bitcoin Rhodium BTR ICO: Rare Hard Forked Cryptocurrency?

Bitcoin Rhodium is a version of bitcoin that’s currently being distributed via an airdop. Find out everything you need to know about this cryptocurrency today in our review.

What Is Bitcoin Rhodium?

Bitcoin Rhodium, found online at BitcoinRh.org, is a cryptocurrency named after an element that’s “extremely rare, precious and harder to find than platinum, palladium, silver, or even gold,” explains the official website.

As a testament to that rarity, Bitcoin Rhodium has one of the lowest total supply counts we’ve ever seen in a cryptocurrency: there will only ever be 2.1 million BTR in circulation. Bitcoin, in comparison, has 21 million.

50% of the total supply of Bitcoin Rhodium will be mineable, 40% will be reserved for two airdrops, 5% will be pre-mined for PR, and 5% will be pre-mined for the developers.

How Bitcoin Rhodium Hard Forked Cryptocurrency Works

Bitcoin Rhodium describes itself as a community-based crypto commodity. The official website refers to it as both a cryptocurrency and as a “real, valuable commodity.” The goal is to create a prosperous investment asset, similar to how some people view bitcoin.

A first airdrop took place in December 2017. A second airdrop is taking place on January 18, 2018. During the airdrops, BTR is being distributed at a ratio of 1 BTC = 10 BTR. You sign up on BitcoinRh.org, then register your BTC non-zero balance address by signing a message. Multiple addresses are allowed, and you’re eligible as long as you have any amount of bitcoin in your wallet.

The important thing to note about Bitcoin Rhodium is that it doesn’t seem to be a hard fork of bitcoin. It appears to be a brand new cryptocurrency built on a different blockchain. The developers have built their blockchain using C#.

What makes Bitcoin Rhodium valuable? How do the developers plan to convince users that their currency has value? Starting in Q3 2018, precious metals like rhodium will be available for purchase through Bitcoin Rhodium. The developers don’t explain how this process works. However, it seems unusual that you can get Bitcoin Rhodium for free (through an airdrop) today, then trade it for a highly valuable precious metal in the future.

Bitcoin Rhodium also appears to have some anonymization mechanism in place. the website describes how Bitcoin Rhodium holders can disable “unwanted surveillance over transactions.”

Bitcoin Rhodium BTR ICO Tech Specs

• Total Supply: 2.1 million BTR
• Consensus: PoW Equihash GPU
• Language: Open source C#
• Block Size: 4MB
• Block Interval: 10 minutes
• Difficulty Adjustment: Every 2 weeks
• Distributed: 50% mineable (1.05 million BTR), 40% reserved for two airdrops (840,000 BTR), 5% pre-mined for PR (105,000 BTR), and 5% pre-mined for the developers (105,000 BTR)

Who’s Behind Bitcoin Rhodium?

Bitcoin Rhodium frequently mentions the fact that it’s being built by an open source community. The website has links to the project’s Twitter and Facebook profiles, as well as their Discord community.

The Discord page lists 10 accounts as “BTR Holders and Supporters”. There’s also 1 miner listed.

Overall, there’s limited information about Bitcoin Rhodium’s team available online. However, the team seems responsive on most social media.

Bitcoin Rhodium Conclusion

Bitcoin Rhodium is being released through airdrops between December 2017 and January 2018. You can register for that airdrop by signing a message from your (non-zero) bitcoin wallet at BitcoinRh.org.

Unlike other projects containing the name “Bitcoin”, Bitcoin Rhodium appears to have no relation to the world’s largest cryptocurrency. It doesn’t seem to be launching through a hard fork, and it’s built on a different consensus mechanism.

Because rhodium is a rare commodity, Bitcoin Rhodium has been designed with just 2.1 million tokens in circulation. Half of those tokens are available through mining, while 40% are being distributed for free through the two airdrops.

By Q3 2017, the developers of Bitcoin Rhodium claim you’ll be able to purchase rare metals like real, physical rhodium using their currency.

Overall, there’s limited information about Bitcoin Rhodium available online at this time. There’s no whitepaper, for example, and the website and announcement threads have featured minimal information about the future goals of the project. We don’t know how BTR token holders will be able to purchase real rhodium with the tokens – considering the tokens were distributed for free, for example.

To learn more about Bitcoin Rhodium and its ongoing development, visit BitcoinRh.org today.