(OBN) Obsidian Blockchain Breakdown: Analyzing Assets (Low Market Cap Gem)

[Music] open welcome everybody to underground crypto I'm crypto Ron I'm the host I started this channel so that we could deep dive coins I know a lot of people they want to know what the next big coin is that's going to just absolutely explode that they got in when it was super early market cap is what it's all about for those who are new to crypto investing or dealing with anything in crypto market cap super important when you're looking at a coin because if a coin's 50 cents Market Cap's a million dollars there's a high odd and it doesn't really matter what the price is it's all about the market cap there's a high probability that more money is going to pour into this coin at a million dollars and it's going to go to a market cap of

say $23 million and you can easily double your money now where there is high risk there's High reward where there is high reward there is high risk and uh you got to keep that in mind I'm not a financial advisor nothing I say or do should be taken as Financial advice get your own financial advisor all right at least that's what I hear everybody else tell people so the coin we're going to be looking at today is Obsidian um I don't know a ton about this coin obviously this is like take three I'm new you know this is the second Channel going up on YouTube here so this is a brand new YouTube channel most of you guys will probably never see any of these videos but I guess that's just part of the grind here got to make

them anyways but obsidian looks interesting um I only have really looked at shortly from you know the couple takes that I've started to do here here the exchange that we're using here we're using I'm using is ex is AIX I think I don't know that's just how I've been saying it hopefully I'm right probably wrong because I made it up now what I love about this platform this noname exchange is that they put all your links for you already so you don't have to run and take your ticker and go to you know coin market cap uh coin Gecko and look it up yourself you can just click your links right there super easy if you were in this exchange and you wanted to find where I am markets up here it'll automatically take you to spot Market when

you click on it and then you come over here and you click on new listings these are coins that are newly listed pretty simple and if you look at the market cap a lot of times you will see Zero as a market cap that's just because these things have just got listed and they don't really have the data yet for for what the market cap actually is some of them they do some of them they don't but I'm sure that the market cap of obsidian is not zero and uh one of the first links we'll be going to over here as you see the little the little green gecko coin gecko that's where we'll be headed first maybe we can find a market cap so let's go ahead and jump right into it coin gecko obsidian coin obn is

the ticker it is up 48.8% basically a 50% rise in the last 24 hours again just a testament to how low market cap coins get big explosions they get big uh price action raises very fast and um it's not a guarantee they also could be rug PS I always want to keep saying that because I want people to realize like you could double your money or you could lose your money that's really in the uh in the skill and the practice of deep diving these coins and having some understanding of you know what what they're trying to accomplish as a team as a coin as a project a lot of people we talk about cryptocurrencies like they're just money like they're just dollar bills um in a digital form but they're much more than that they're like companies and

just like every company sets out to solve a problem every invention a lot of these are Tech products where they've created something digitally that they consider to be a product and uh they're trying to use case you know get the world to adopt it to sell it all those different things that's where they make their money you make their money and they have relevance and uh you know people need them if somebody comes up with something and nobody needs it whether it's digital or physical then nobody really buys it nobody adopts it and it's usually a failed uh it's a failed Endeavor so right down here I see you know although it's up 50% today uh your 24-hour trading volume according to coin gecko now again coin gecko coin market cap sometimes they number numbers on these new coins

are just not dialed in I mean if you scroll down here where it tells you the exchanges now generally you come to any coin on coin gecko coin market cap they tell you the exchanges that they're listed on and if you look this coin is only listed on a g jix so um they don't have a lot of data to pull from a lot of times to give this trading volume it's another sign that this coin is probably brand spanking new um it says the max Supply right here 68 million um yeah that's a great Max Supply but we don't know what the circulating Supply is so real simple math it's usually not simple but it's a simple concept is that the price is determined price of a coin is determined by the market cap divided by the circulating

Supply now ultimately when all of the supply comes out say say an older project who's been around for a while and 100% of its coins are in circulation then the max Supply would be where you would be um dividing that so you would take the amount of coins in Supply or Max Supply if it's fully invested and you would divide that by the amount of money in the market cap and that would give you the individual price per unit per coin a lot of people don't like calling them coins I understand that but I feel like to the average you know Normie who's not a djun we just calm coins I like crypto assets personally I think of them as assets because I look at these currencies as companies and um it all makes to me a lot more

sense what I'm investing in now the great thing about coin market cap again on a g jix they have the links they have the website for you but this is generally an any project or coin you ever heard of of your friend tells you about you know an XYZ coin this is where you come look it up and you can find their website and I already have it pulled up in a tab here so this is Obsidian coin.org generally this is where you can get especially on a brand new coin this is where we get um you know our specifics are what is this coin cuz all we know so far is they got a logo of a triangle and it's obsidian that's all we really know so we're trying to get about we're trying to get some understanding

as to what this coin is now it says this coin is proof of work um I'm not sure how much I need to explain there's probably some new people that are going to stumble upon these uh eventually who are just investors looking to invest and don't know a lot about crypto proof of work is like Bitcoin the original cryptocurrency or at least what is attributed to be the original cryptocurrency and uh proof of work is basically solving a mathematical problem not on a piece of paper on a computer um and getting a financial reward for solving that problem whoever solves a problem gets to update The Ledger that everybody holds and they get a small Financial reward for updating that ledger for being the one to mine that block and so I'm not a minor so my uh knowledge

may be a little bit not well put together there but that's the basics of it that's why they're getting money from the network is because they're a part of the network they're maintaining the network updating the network and they also hold The Ledger that's then updated to everybody so everybody has the same Ledger um as transaction history like a bank would have but this is decentralized where a bank has a ledger but you're not allowed to see it that's centralized anyways obsidian coin is a fork of Litecoin so I'm sure you guys have heard of Litecoin this is basically when they say a fork my mind just thinks it's a it's a copy it's a copy of Litecoin which litecoin's been around a long time I'm not big into Litecoin Tech so I'm not really sure how that Stacks

up against you know all the different coins but this is basically looking like it's a layer one and layer ones have normally made people a lot of money but I do think we're getting to a point in crypto where we probably have plenty of layer ones I don't really get how obsidian's going to come in and really take a ton of market cap from ethereum as a layer one or Bitcoin as a layer one but you know maybe they could do it in time a lot of people like proof of work in order to find a block the minor must solve a numerical problem known as proof of work or P for short that's basically what I was just saying at least four megabytes worth of transactions must be verified to generate a new block so every block in

this network is made up of 4 megabytes obsidian coin uses the algorithm script which I don't know anything about but that's what they've named their algorithm to solve the proof of work numeric equation basically block hash which is something I'm probably not super qualified to explain but I I do understand it um and then they just give you some things here the the name the ticker block maturity things that would be really important to more like a minor and not so much an investor so if you're into mining probably need to find another Channel covering this coin uh good luck a lot of these coins are tiny and there's little to no information out about them again here is some more information that you'd be interested in if you were a minor they have their own wallet most of

the time you'll see that these coins of any kind have their own wallet self- custody always want to talk about self custody whenever you keep your money on Exchange in crypto if you're new most of you probably heard this not your keys not your crypto so saying you don't have the seed phrase you don't have the keys to the wallet it's on their exchange and if something happens The Exchange you know they have your money and so I preach self- custody that's where you hold your own money like you're the bank it is extremely rewarding and self-sufficient and it's also very terrifying because there are ways that you could mess it up and lose all your money now let's move on mining with A6 so like a lot of people who are going to be in this coin are

going to be mining this coin that's not you know giving us necessarily A use case for other people to necessarily care about this coin but the miners are probably going to stumble upon this coin and I don't know how popular this is in the mining circles you know mining is a whole sub genre of cryptocurrency in General that I really wish I knew more about I've watched a lot of stuff just never bought a rig so maybe one day I'll buy a rig and that'll be part of our Channel and they're telling you different pools this is where if you had a minor you would go in and then apparently you can rent Hardware miners now I don't know anything about this project so I don't really know what the legitimacy of you know renting a miner from them

is but I will tell you that normally this kind of thing is a bit of a red flag um and I really don't want to you know put down this project because they may be completely legitimate um Hardware minor like rental as an idea could certainly be done um and could be legitimate it's just on the internet for the longest time they take your money and give you like a fake dashboard where it looks like you're minding some money and you'll never be able to withdraw it or anything you know it's kind of a load of crap so you got to be careful out there and that's pretty much all the information that we're given here and you'll find that with a lot of these low cap gems a lot of times they websites look nice and things but

they're not loaded with a lot of information matter of fact on most websites you'll go to click on like products and they'll have a bunch of words and and pictures but it'll all say coming soon meaning like they don't actually have any of it up now let's come back here and you'll see in the link tree or I don't know if it's a link tree but in the links they got a Twitter now Twitter is useful when you're deep diving these coins because you want to look at simple things like when did they join this says December 2023 that makes some sense you know that wasn't that long ago um they got 10 followers and more importantly are they're following 10 people but more importantly they have 182 followers I'm not really sure how good or not good that

is is I do like one of the number one things I'm looking at when I come to a Project's Twitter is how often are they posting uh how many people are interacting with their Twitter that'll tell you that'll tell you a lot and so you know it seems like there's some action here 13 hours ago 12 hours ago 9 hours ago somebody reposted so that's a good that's a good vibe um yeah but there's again not a ton of information here and that just kind of is what it is let's click media looks like they have some some media but not a lot probably some fan-made art like Elon Musk pointing at their their symbol here so generally the way that I give a rating system is my rating system is just a gut rating system because again these

coins are brand new a lot of times we have next to nothing as far as um you know real world data for how they've been performing or anything we are speculating and that is the name of the game for anybody who doesn't necessarily understanding investment I want to try to keep the channel as simple as possible so that people stumbling across this can understand it um yeah that's pretty much all there is here trying to think if there's anything else you useful that we could pull I mean they have a Discord Discord is usually and tegram are usually good places to try to find the deeper information I would say Discord is probably the best um we'll pull up their Discord now wish my internet wasn't acting so slow that's what happens when you have a million things open

on your computer all right and let's join of course you have to verify it's pretty much the norm here in any project that you come into oh wow is that all I had to do to verify that's pretty easy so let's go to announcements here so again I'm not I could sit here and read this all this stuff in here for like 2 three hours these videos are meant to be a very basic introduction now if I really like a certain project I may do like a deeper deeper dive into it and read all of this stuff but normally I'm just going to pop in here and give a a quick overview says exciting news join our Vibrant Community by following us on Tik Tok so they got their other social medias here not that exciting um let's go

to oh they have a road map published that's definitely good because I didn't see a road map on their website usually do so in phase one they got blockchain launch website launch social media launch wallet releases Market campaign release white paper release road map release they're just going to be releasing tons of stuff that's what they say but got to get the project off the ground right phase two first exchange release Market expansion now they must be in phase two because this is listed on a g jix which looks like their first exchange release and their only exchange release so far then they got Android app development Community engagement second exchange listing which apparently hasn't H happened yet so we're not in phase three Partners partnership with exchanges crypto service providers coin market cap listing again Guys these road

maps usually are very vague they uh don't give us a ton of detailed information they tell you what they're trying to do what they hope to to do and they don't necessarily give you a specific outline of how they're going to do that now the more specific the road maps are um usually the more serious and thought a project really is phase four publicity and media campaigns to build our platform that's smart cuz most most of the time marketing is where a lot of these projects fail sometimes they have great teams Great Tech great ideas and nobody knows they exist therefore they don't really get much market share and they don't do much of anything Android wallet releases and why do they just say Android and not iOS I think it's interesting everywhere that it's been mentioned it's always

Android so I wonder if they'll have IOS you know iPhone capabilities so it says Android wallet release branding activities from four platforms increased marketing campaigns platform enhancement in our user face integration difficult customization and Rewards and partnership agreements and then last phase five develop obsidian banking app acquire visa and master MasterCard contracts launch obsidian banking app that links us to MasterCard and Visa so it seems like one of their main um things they're trying to accomplish here is to basically have a bank and and be have agreements with visa and MasterCard so that you can use them like an actual bank that's a cool use case I really would like to see what that looks like how they're going to pull that off again that was five phases we're pretty much somewhere in phase three so we got to

see if they're going to pull it off but you know probably a pretty good investment you got a white paper again something I did not see on their obsidian coin Doc and that concludes our video for obsidian coin hope everybody has a great day again brand new channel if you are for some reason seeing this please like subscribe share it with somebody who you know loves crypto as crypto people usually got one or two people out there who uh you know also are into the cryptos and uh yeah thanks for watching this video