Topic: A vastly undervalued Bitcoin fork (Read 135 times)

Bithereum.

Now, before you immediately shout "SH*T COIN" or "SCAM COIN" and tell us to go F ourselves, please read this post, as we feel this is warranted and not just a form of shameless self-promotion. If after reading this you still think it's a piece of sh*t, then by all means let us hear it.

Bithereum, which launched in January, is a hard-fork of Bitcoin, and a hard-spoon of Ethereum, hence the name. Hard-spoon meaning we took a snapshot of the Ethereum blockchain so ETH holders can redeem BTH as well as BTC holders. Why Ethereum? Well, our original idea was to implement a Casper-like Proof of Stake model atop of Bitcoin.

Our focus shifted, and with the recurring theme throughout crypto on the importance of full nodes, many people were left wondering why they should run a BTC full node if they weren't getting rewarded for it like they would with mining?

So we implemented a new concept called Proof of Uptime, which rewards users weekly for running full nodes. Also different from the master node concept, in which users have to purchase a substantial amount of that coin's currency in order to get rewarded.

To get rewarded, you don't need to own any BTH, but the more you hold (in terms of USD value) the more you can earn, and is capped at 25 BTH per week, which is equal to one block reward from mining, so running a node is not as lucrative as mining.

How has this fared so far? Well, in 5 and a half months, the network has grown substantially. Since PoU started, we have had over 1000 different full nodes come and go, but we now have a weekly average of 400 active nodes per week in 26 different countries, and this is growing every week.

We believe this is an excellent crypto on-ramp for the many people throughout the world who cannot afford to buy or mine crypto. We have created a software which allows anyone from any knowledge level to run a pruned Bithereum node in a few clicks (and yes a pruned node is still a full node). This only requires 4GB of space, and requires minimal bandwidth (as of now).

Bithereum isn't out here claiming we're going to overtake Bitcoin, that isn't the goal, nor do we want it to be. We're not claiming to be the true Bitcoin, or a more efficient form of Bitcoin. Our goal is to be a crypto on-ramp, and make it easier for those around the world to earn crypto and join in on this global revolution.

We're sure most people on this forum are wishing for the same thing, that being cryptocurrency adoption. So in order to do that, we need more ways for people to earn crypto, and we believe node rewards for a Bitcoin fork is extremely valuable and easily attainable for many people.

The argument for more full nodes stems from the fact that more full nodes = a stronger network.

If this is the case, this is why we believe Bithereum is severely undervalued. Take a look at some of the top Bitcoin forks by market cap in relation to their full node count:

Bitcoin Cash - 1,608 nodes - ~$323 price per BCH
Bitcoin SV - 455 nodes - ~$145 price per BSV
Bitcoin Gold - 134 nodes - ~$14 price per BTG

and then you have Bitcoin - 9,530 nodes (and you can argue the exact node count but we got this from bitnodes) - ~$10,730 price per BTC.

Excluding BTC's numbers, every coin is valued at roughly $0.20 x node count, which would value one BTH at $80 per coin. Even with BTG's metrics alone should put BTH at $40 per coin.

What is the value of BTH? $0.02 per coin, or around $0.00005 per node. Extremely undervalued.