Here are 8 critical points to understand about Crypto-Currencies.
Plus read on till the end of the article for a chance to win one bitcoin, currently valued at over $4,800!
In 1994, I was working for HBO at a low-level programming job. I had begged for the job and I wasn’t qualified but they gave it to me anyway because my boss’s boss’s boss was a fan of chess and he accidentally saw me playing in the park after I failed the interview.
My job was to get HBO streaming interactively on cable lines. Don’t ask.
I said to my boss, “The technology to do this is already done. It’s called the web. Why do I have to invent an entire new way to stream content?”
He said, “James. Calm down. The cable guys know what they are doing. This Internet thing is popular with academics but is just a fad.”
And that was that.
A) CRYPTOCURRENCIES ARE NOT A FAD
Cryptocurrencies benefit from two 5000 year old trends.
1) Theism ==> Humanism ==> Dataism in every industry. For instance, 2000 years ago if you got ill, you assumed you had sinned, or you would pray to get better, or you would assume a god was punishing you. 20 years ago, you’d go to a doctor and take two aspirin. And now, you get EEGs, fMRIs, genetic testing, etc to diagnose and determine best solution.
Money is “In God We Trust” ==> Benjamin Franklin we trust ==> Cryptocurrencies (we trust data)
2) Barter ==> Physical store of value (gold, silver, etc) ==> Money backed by metal ==> Paper money ==> Bank money ==> Pure data money (cryptos)
These trends are not going away. They solve massive problems created by the scenario before them and crypto is front and center for both of these 5000 year old trends.
B) CRYPTO CURRENCIES ARE NOT CRYPTO
I hate the word “crypto”.
If someone asks me, “What is Amazon?” I would answer, “A store”.
I wouldn’t say, “It’s a software application that sits on top of the TCP/IP protocol.” Nobody would say that. But, in fact, that’s a valid way to describe what Amazon.com is.
