Author: Kaloyan Roussev
Date: 2 September 2017
Do not make investment decisions based on this article – read the disclaimer before you proceed and leave the website if you disagree with it.
It is 2 September 2017 today. This review takes into consideration investing in RISE at its current price at $0.37
Rise rose 7x yesterday. Does it still make sense to invest in it, and at what entry levels?
How do I rate an investment in this project at the current price? (TL:DR)
I wouldn’t buy Rise. No one knows what caused the pump – might have been an inside job, a PnD group, a whale… There have been no news and no development of any kind. For what I know, the price will fall back to where it was prior the pump. Among other alarming posts, this one https://bitcointalk.org/index.php?topic=1445947.msg21401934#msg21401934 suggests that the developers let the project die, then came back a year later to promise new things not to get sued, but don’t plan to do anything about it. The GitHub project seems to have sparse activity (most commits are changes of a few words in the code here and there – from 5 and 12 days ago). I see on slack that many people cannot access their wallet or have been locked out of their account. On bitcointalk one person complains that they haven’t been paid their bounty from a year ago.
If the price goes up from here, it might be purely based on speculation alone, and from people, whose research consists of “its going to the mooooooon” and “buy the fucking dip”. Or all these red flags haven’t reflected the actual truth. Well, with so many more good projects to invest in, I wouldn’t bet my money on Rise.
Everything in this report that seems positive from this line forward, is based on their promises they’ve made on their website. But I would trust the first paragraph of this report that exposes the hard cold facts, before I try to delude myself into believing what might be true.
Entities who attract buyers of their financial securities by promising high yield (or dividends), were called high-coupon stocks by Benjamin Graham, more recently known as junk bonds. Benjamin Graham has observed that luring buyers by promising a high dividend return is very closely related to companies who are either in trouble, or have nothing better to offer to their clients. Now, Rise has something similar – they promise a 20% return for every Rise holder, from every new business venture’s tokens. I haven’t thought about this in depth, but I think it might be interpreted in a similar fashion, and it might be just a little fishy. I expect the reader, better educated by your humble author, to send me a message with their contemplation on the subject.
Rise started out by cloning Lisk’s codebase. You can read a discussion about the difference between the two here – https://www.reddit.com/r/Lisk/comments/6x5vzi/lisk_vs_rise_coin/ and a visual comparison between their features – https://steemit.com/crypto-news/@steemurkel069/rise-a-better-lisk-what-do-you-think – but we don’t know how much of this has been actually developed
In some regards, Rise is like ARK – it uses DPoS algorithm. It is also like Ether, Neo and district0x as it will allow for the creation of decentralized apps atop the ecosystem it provides. Like NEO, and unlike Ethereum, Rise allows the creation of smart-contract-backed apps to be in most popular programming languages. It has user-centric practical features such as a username on the blockchain, a contact list, multi-signature groups, smart contracts, easy to create and use dapps, storage, token creation – which all provide for a great utility, and there are two projects already in development using the Rise platform – a decentralized competitor for AirBNB and an online casino.
It has a so called Rise-Incubator which facilitates the creation of blockchain based decentralized new business ventures.
- Website: does it look good/presentable – beautiful, colorful and useful.
- Website: Does it have a roadmap for the cryptocurrency development – https://rise.vision/index.php/overview/development/roadmap
- Website: Does it have a whitepaper – yes, https://github.com/RiseVision/Documentation/blob/master/whitepaper.md Starts out with some technical gibberish but later on it reveals the beneficial features of the Rise platform. It doesn’t specify how much of this has already been done.
- Website: Is the domain name and TLD good – with such a blatantly generic name, I can see how it has been close to impossible to reserve the .com domain, had they wanted to. vision is even more expensive so I am okay with it.
- Website: Is it a quick wordpress template, a 2-hour html job or a custom design with lots of work, money and thought thrown at it – apparently it uses this platform that allows for quick and easy creation of websites, according to a 404 page on their website that lets us know that it is what the website runs on – http://gantry.org/
- What new does this cryptocurrency bring to the world, what problem does it solve, what does it stand for– same as several others, but with their own spin on it, and they probably hope that the market will appreciate it if they did a better job at it – an ecosystem to create and run dapps on.
- How does the cryptocurrency name sound (does it sound legit and like a good brand name) – absolutely generic and forgettable. Although it could be associated with a “rise in price” event in a not so subtle psychological way. It is a stupid name, in all honesty.
- How does the logo look – logo is good, looks very nice, I tend to prefer fresh and happy look over a shady dark obscure one, especially in the field of crypto where scam and darkness are things to be afraid of, although research has shown that vertical logos are much less likely to be seen/recognized/remembered, because the shape of what we see with our eyes is 2.45:1 wide. Branding experts can back me up here.
- Is it a PoW, PoS or PoW/PoS coin, what is the mining difficulty or APR, does it suffer from inflation – DPoS just like ARK. They have something like a price list with transaction fees and fees for other actions created on their blockchain. Inflation is set at 15% this year.
- Who is behind the cryptocurrency – are they shady figures, or have they placed their names and pictures on the website; what is their track record and reputation; do a quick google/github research on them – this wild bunch https://rise.vision/index.php/team
- What is the limit on supply of coins in circulation – 113 million in circulation, with inflation it is planned to reach 147 million in 5 years.
- Is there a link to the source code – https://github.com/RiseVision
- When was the last commit made, and how frequent are commits– one 5 days ago, one 12 days ago, absolutely insignificant commits though
- How many developers participate in the coding – 5 people, I think
- What the project survival relies on – a delivery of a big feature as promised in their roadmap, and a large campaign proving they are not a scam. Other than that, not being pushed down by fierce competition.
Exchanges and trading
- Which exchanges (and how reputable they are) is the coin traded on, what is the daily trading volume and market cap – bittrex and 2 shit exchanges.
- Are there buy (support) or sell (resistance) walls – at this point, I don’t care. However, here is a shot of the market depth.
- How does the chart look – looks like an abandoned coin got pumped, and now FOMO is preventing the price from going back to where it should be.
- Is there a Bitcointalk forum Announcement thread – Yes https://bitcointalk.org/index.php?topic=1445947.0
- How many pages is it – 500+ pages
- History of the coin according to the forum and general public impression of the coin throughout – read the first 10, last 5 and several random pages – all I saw is FUD, well founded complaints, scam-calling and people’s wallets not working, developers not developing…
- Do they have a blog, anything interesting on it? – they have this forum here, it has a blog section with 2 articles in it written by community members – https://forum.rise.vision/
- Is there a slack channel – https://risevision.slack.com/
- Is there a Twitter profile for the cryptocurrency and does it post regular updates, how many followers https://twitter.com/risevisionteam 4k followers, tweeting once or twice per week. Looking at their Twitter profile, it looks like there is actual work being done.
- Is there a Facebook page for the cryptocurrency and does it post regular updates, how many likes – https://www.facebook.com/risevisionteam 1.5k likes. Mirroring Twitter
- Are there any known problems with the source code, the wallet or something else regarding the coin (transactions, mining, efficiency) – wallet not working for some users..
- Is there an active development for fixes on the way – hardly anything
- Has the wallet been under maintenance for prolonged periods of time on some/all of the exchanges Is any government planning on banning the coin (or similar coins) or putting heavy restrictions towards its use – N/A
Popularity and perception
- What does a quick google search tell us about the coin – listings, website. As proof of how generic their name is, after these everything else I found was connected to “the rise of cryptocurrencies” or “bitcoin and ether rise”
- Are there youtube videos about the coin – among videos about the rise of other cryptocurrencies, there is one bullish video from a year ago and 2-3 videos from the past couple of days.
- What is the general sentiment in the comment section below the videos (constructive, fud/hype, calling out scam etc) – Response is mixed, but mainly positive.
- Is the coin associated with illegal/criminal activity or the dark web – no
- Competition – ARK, Eth, NEO, Lisk, district0x
You can watch this article on youtube as well
I am sure I might’ve made some mistakes in this post or in my research. Please, forgive me, if I have, and contact me to tell me where I went wrong. It takes about 4-5 hours of my time to do a full research on a cryptocurrency, and I try to do at least 4 per week.
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