It is about time we gave an update on Blockchain tech. This update was fueled by a fellow Twitter trader that can be found here
Everything that can be decentralised, will be.
Volatility means it is not a store of value & people aren’t buying to spend it, so currency status gone. ETH to me personally is what I am holding, until the winner of smart contracts is evident. Internet of Things, the need for micro transactions, the need for proof and smart contracts are all things that greatly appeal to me. I see Blockchain technologies being used behind the scenes for infrastructure, more than them becoming retail or end user driven. The common misconception for me is people still associate Blockchain, Crypto, BTC, ETH with Finance. We need to open our minds up much, much further than that. (Take a look at bitnation.co for just one idea. The words Bitcoin, Cryptocurrency are the biggest fallacy of this entire story. The power of decentralised proof of ownership for me is the great gift since the internet and I do believe it will not just evolve our current day infrastructures and institutions but will revolutionise them long term.
It terms of what trades or investments to take we are in the infancy and birthing phases still where Exchanges could collapse under the weight of demand, be susceptible to attacks even if the underlying asset is rock solid and of course the giant elephant in the room > lack of regulation & counter party insurance. However, as financial services begin to migrate infrastructure (take AMEX using BTC as a global settling mechanism) we will see demand for the asset increase and could become an easy ride for some time. This for us however is the shorter term expectation. Longer term we want to see smart contracts revolutionise the financial, legal and end user spaces.
This is a long term play far beyond what most people consider. We will be holding our ETH and BTC portfolio for decades, whilst monitoring evolutions in this space to see if we should move to something bigger and better as the story unfolds.
This is not the first time we have had what everyone called a bubble and the sure death of Bitcoin. We just went vertical so there are lots of new voices coming to the table but they should remember we have been through many parabolic moves now and interest and demand for the underlying technology has been constant throughout. Excitement over swings and “bubbles” and the financial association to the USD will one day be lost and simply put:
1 Bitcoin will be worth exactly 1 Bitcoin.
The fact that you have a public ledger of all records was a thing of beauty. Until companies now started creating private ledgers (private Blockchain), so do be very wary of that.
Final point- do not rule out the possibility that Bitcoin and its underlying technologies were created by government. A mysterious creator who gave his gift to the world. Fiat is not controllable and must be destroyed if government is to enforce and have complete financial and maybe other ways of control enforced. Let’s not forget history. First the problem must be created, then the solution provided.
Anyone interested in Blockchain should know Andreas. Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin A great example of his talks can be found here: