Why Raiblocks Will End as a Pump & Dump

today we’re gonna talk about one of the biggest I would say examples of mass hysteria in the cryptocurrency market that I’ve seen in quite some time and that is right box yeah I said it and I know a lot of people are gonna dislike this video because of it and I genuinely don’t care Wray box has pumped absurdly in the month of December but more importantly okay it’s been around for quite some time you mean to tell me that just now in December all of a sudden everybody discovered the fact that the block lattice is gonna be the future and this is going to change everything no that’s not what happened what happened is that we started to see little pumps and people talking about it more and more and as people talked about it more and more it started going up like this now we see it pumping up to the moon because of the fact that there’s this little community vote going on on by Nance that will have it list on by Nance if they’re successful you can see that they’re currently winning and if you look at any of the reddit’s right now Rybak’s is the future everybody’s so excited about ride blocks why is everybody so excited about ride blocks well they’re excited because of the fact that the transactions are fast and they’re felis that’s it that’s all there is to it oh and the fact that throughput is so high what is throughput that’s basically how many transactions you can squeeze in per second how fast can the network process transactions and everybody’s touting this 7,000 plus transactions per second that’s what’s got everybody excited about Rye blocks that’s all there is to it is that it’s extremely fast it can process transactions instantaneously and the fees are low as a result of that and because we’re seeing Bitcoin struggle to process as many transactions as it currently is rye blocks is clearly going to be the future it’s gonna change everything and my answer to that is no it’s not plain and simple and this has nothing to do with me being I don’t some people are gonna say oh you missed out on this pump then that means that that’s why you have to put down rye blocks has nothing to do with that if you look at other cryptocurrencies there are other cryptocurrencies that can’t handle transactions very quickly that are smaller than rye blocks right now for example bitshares can handle transactions very quickly and actually handles a lot of transactions steam is probably the best example instantaneous transactions within three seconds no fees associated with them and it handles over a million transactions per day I mean really if we were looking for just speed if we were looking for just felis transactions if we were looking at just the ability to handle that many transactions and have very high throughput there are other options out there that can handle that plain and simple there are plenty of options out there we don’t need ride box to do that so why is rye blocks pumping so much I don’t know people for some reason think it’s going to become the next Bitcoin or it’s going to replace Ripple because it’s fast and this short answer is no it’s not the number one issue facing cryptocurrencies and I want everybody to stick this in their head and I’ll probably make a separate video about it at some time the number one issue facing cryptocurrencies right now is not not scalability okay and I want everybody to remember that the number one issue facing cryptocurrencies right now is not scalability that will be fixed I have no doubt in my mind that in another five years scalability will be a much smaller problem than it is now okay it’s the natural evolution of technology to fix issues like scalability so that’s not the biggest issue the number one issue facing cryptocurrencies right now is adoption and why is there slow adoption it’s because they’re not useful in most cases with Bitcoin you’re right transaction speed is far too slow the transaction fees are far too high it’s inconvenient to use lightning is supposed to fix a lot of those things but even when lightning comes along guess what the next problem is going to be for adoption it’s going to be the user interface the user interface is going to suck it’s going to be difficult for people to understand how to use Bitcoin because for a lot of you it’s easy to understand how to use Bitcoin and cryptocurrencies for most people the layman person it’s going to be difficult to use no matter how simple they make it right the internet was complex too a lot of people until they came out with iPads right and that was a recent innovation so that’s what you need to remember here is that user interface is going to be a very important improvement that we need to see with cryptocurrencies moving into the future in addition to that more businesses need to start accepting them as currencies and guess what good luck convincing X Y Z business that they should accept bribe locks the only reason and I’m serious about this the only reason that a business will accept bribe locks is because number one the owner already knew about it and is invested in Rai blocks or for whatever reason somebody else was able to convince him that he should accept it or number two because of the fact that he just wants to support cryptocurrency in general and he knows that certain people will use his shop just because of the fact that he supports different crypto currencies as payments and by the way I think that’s the number one reason that anybody accepts Bitcoin and other cryptocurrencies as a form of payment right now I don’t think it’s because it’s convenient in the majority of use cases I think it’s just because of the fact that they want to sucker and a few more customers who are adamant about supporting crypto currencies so in general here the issue is not with scalability that’s going to be fixed with a lightning Network and there’s going to be a ton of other ways in which we can fix scalability right we can decrease the transaction size we can increase the size of the blocks and there’s tons of other ways in which we can innovate Bitcoin and other cryptocurrencies in this list to increase scalability I’m telling you right now the issue is that we don’t have enough adoption because it’s not enough use cases for these crypto currencies relative to a centralized solution I can tell you right now there’s almost no reason to use Bitcoin over PayPal but the same thing is true for a lot of other crypto currencies as well the infrastructure is already there for PayPal the infrastructure is already there Foursquare and I know a lot of people are going to say well it’s easy to accept crypto currencies not for Mom pod that don’t understand what they are so the number one issue facing crypto currencies is not scalability Rai blocks isn’t going to do jack I’m sorry in addition to that some people are saying it’s gonna become the next big cross currency pair on all sorts of different exchanges wrong again if that were the case then ether would be way up there ripple would be way up there but more importantly ether for it to be a major cross currency pair okay for a cryptocurrency to be a major cross currency pair there needs to be a lot of fiat on ramps and there is a lot of fiat on-ramps for aetherium yet despite this the majority of transaction volume is done in Bitcoin why because it’s the number one cryptocurrency to use and has been forever and that’s just the way it is has nothing to do with transaction speeds and let’s be real here the only time you really need to transact Bitcoin is to send it between exchanges in other words once you have it on the exchange there’s no difference between using Bitcoin or etherium because these are all settled off chain within the particular exchange so in general here it’s gonna be very difficult for rye blocks to be anything more than just another fast cryptocurrency and we have a lot of those already and we have one in the form of steam and bitshares that’s already seeing much more adoption right you can see steam all the way over a million transactions per day and then you can see bitshares here over 300,000 transactions per day so what I want everybody remember here is that speed is not everything scalability is not everything and we need more than just another currency trust me so this is probably going to be one of the biggest pump and dumps of all time I would be prepared for it to probably go up into the top ten crypto currencies just because everybody is shilling for it I mean wow I have never seen more shells for a cryptocurrency and I’ve seen a lot of shilling before even Verte coin wasn’t this bad I mean this is insanity everybody is talking about Rai blocks it’s the next flavor of the week flavor of the month whatever you want to call it and it will eventually rotate out of interest the same thing happened with ver coin if we look all the way down here you can see now ver coins all the way up 77 at its peak I believe Bert coin was all the way up at rank what twentieth twenty fifth or so Rai blocks is doing even better than that it’s all the way up at rank fifteen and continues to increase despite the fact that it’s only on one exchange that practically nobody uses right if you go here you can see brick rail so I think this is going to be one of the most insane pump and dumps of all time it probably still has some more room left to pump if you’re buying it because you think that for whatever reason it’s use case is going to exceed that of all other cryptocurrencies I think you’re gonna be sorely disappointed I think you’re gonna find that it’s probably not used all that frequently at all and it’s probably not going to replace Bitcoin or any other cryptocurrency as a cross currency pair but I’d be willing to be proven wrong I don’t think I will be though so it should be interesting to watch that over the coming I guess over the following month or so maybe the next two months or so and then after that I suspect that rival ox will probably be forgotten and we will move on to the next flavor of the week plain and simple it’s just the way how things work so that’s my opinion on rye blocks a lot of people have been asking me about it sorry to bash it so much but really guys come on it’s not gonna change everything as we know it it’s not gonna revolutionize the world it’s just another cryptocurrency that’s being pegged as if it’s going to change everything yet we’re still in the proof-of-concept stage we still don’t know what it’s like when there’s hundreds of thousands of transactions on this particular technology and I think it’s gonna be interesting I think there’s gonna be a lot of conflicts so should be interesting to see what happens stay tuned I will keep you all up to date if anything interesting happens with it it’s probably going to pump quite a bit more once it comes on to buy Nantz and then after that I think over the following couple of months people are mostly going to forget about it as usual I hope you guys enjoyed this video I know a lot of you probably didn’t go ahead and sign up for steam it if you want to give me a piece of your mind I tend to interact a lot more on that platform I know a lot of people are probably going to tell me that I don’t understand the or how it’s going to be so much better and I’m just gonna tell you right here and now the tech can be amazing and flawless and perfect and it still won’t be as revolutionary as everybody thinks because guess what that’s not the problem and you’re gonna find that out soon I really do I think you’re gonna find that out very shortly if you’re bullish on ride blocks but you might still enjoy quite a bit of a pump after it comes on financier because that just tends to be the nature of when a new currency gets launched on in exchange especially in exchange like finance so stay tuned we’ll probably talk about that in the future go ahead and sign up for a steam it so you can interact with me as usual leave a like comment and subscribe and I will get back to you as soon as possible thank you for watching

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