Originally published in Think Outside the Blox, Medium
Why Bitcoin and Crypto Have No Future
A popular post on social media over the past week lists out some of the major events/announcements in Crypto space. Taking a light-hearted sarcastic jab at the naysayers.
And, Here We Go!
- when the NYSE is creating the cryptocurrency trading platform Bakkt in collaboration with Microsoft and Starbucks with physically backed Bitcoin futures contracts.
- when Fidelity is offering it to its clients and has been mining it since 2015.
- when Steve Wozniak is co-founding a cryptoasset investment firm.
- when Katy Perry IG’d this!
- when Amazon Web Services partnered with QTUM.
- when the Bill & Melinda Gates Foundation is utilizing Ripple’s interledger protocol to help with payment services for the financially impoverished and unbanked.
- when IBM is partnering with Stellar Lumens (XLM) for cross-border payment solutions.
- when Jamie Dimon, tells all that it Bitcoin is a “fraud” and that if he catches any employees who own it he would fire them, while in the background JP Morgan and Morgan Stanley bought Bitcoin ETNs on the dip.
- when the MLB is launching a crypto-based game on the blockchain using the ERC-721 standard for non-fungible tokens.
- when George Soros initially bashed cryptocurrencies, only to later buy a stack of Bitcoin at the $6k low.
- when Alibaba and IBM have the most blockchain patents in the world.
- when Yale’s endowment invested $400 million in cyptoasset funds.
- when the Winklevoss twins took $11 million of their Facebook money and put it into Bitcoin in 2013 when it was $120 each.
Should I go on?
- when John McAfee bets his manhood that Bitcoin is going to the moon.
- when Jack Dorsey, CEO of Twitter and Square, thinks Bitcoin is the currency of the future.
- when Richard Branson thinks Bitcoin will bring an economic revolution.
- when Goldman-Sachs backed Circle launched a crypto finance company.
- when Square’s Cash App allowed users to buy and sell Bitcoin.
- when Coinbase is valued at $8B
- when the founder of YouTube and the founder of Twitch are advising Theta Token (THETA).
- when Bitmain is on track for $10 billion in revenue this year after around $4 billion last year.
- when Binance made more in profit in Q2 2018 than Deutsche Bank.
- when Reddit co-founder (and husband of Serena Williams — don’t forget that) Alexis Ohanian is betting on Bitcoin as a hedge to economic crises.
- when Blockchains, LLC bought 60,000 acres for their company that will incubate and innovate Ethereum-based blockchain ventures.
- when the co-founder of Wikipedia is now working on its decentralized counterpart Everipedia (IQ).
- when Akon is launching his own cryptocurrency Akoin to help bring security to the currency system in Africa.
- when Ashton Kutcher donated $4 million in XRP to Ellen DeGeneres’ charity by transferring it to her in a matter of seconds.
- when Chamath Palihapitiya, co-owner of the Golden State Warriors, invested early in Bitcoin and thinks it’s going to $1 million per coin.
- when Plastic Bank is helping those in developing countries earn cryptocurrency while also curing plastic ocean pollution — I know you’ve seen those IBM commercials.
- when Robinhood offers the purchase of cryptos commission-free.
- when Steve Bannon is betting on Bitcoin and launching his own cryptocurrency.
- when Bill Clinton spoke at the Swell Conference in support of Ripple and blockchain technology.
- when former Trump aide and Goldman Sachs exec Gary Cohn is joining a blockchain startup.
- when the NFL purchased a stake in blockchain startup SportsCastr.
- when the NBA goes crypto as the Sacramento Kings mine Ethereum, Bitmain sponsors the Houston Rockets, and former commissioner David Stern backs FanChain.
- when Rockefeller-owned Venrock is investing in cryptocurrency.
- when Overstock.com is going full-on crypto.
- when cryptocurrencies can end poverty and provide financial freedom to those in financial need.
Yeah. This has no future.
Accumulate, HODL, and think outside the blox!
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