I saw this CNBC article shared on Facebook this morning (Bitcoin hits $1,600 for the first time and one investor says it could rally to $4,000 in a few months) and one thing that struck me was the focus of the video in the article. It wasn't about currency speculation as much as explaining blockchain technology as a globally accessible database anyone can access.
Not only that, the video in the article touched on how major corporations can save billions with this technology and are already investing millions in it right now. The poor and unbanked along with those in destabilized nation states were also highlighted.
I know we're in an information bubble. Since many of us talk about cryptocurrency so often, the people around us mostly get it. Sometimes we have to remind ourselves how small our bubbles are. I was at a party a couple weeks ago and a friend of mine who isn't on social media said, "What's bitcoin?" when I started talking about it. It was a bit of a shock. How could someone today not know what bitcoin is? Same thing happened when a friend shared a Facebook post about buying some Ethereum for his children. His friends also asked, "What's cryptocurrency?"
Those of us who understand (or have even heard of) blockchain technology are in a very small information bubble. As quickly as information is spreading in today's networked world, we also have to recognize it will take time. The concept of money and value have been around for a very long time, some argue as long as our species first started collaborating, trading, and specializing. To redefine (or refine) that concept is no easy task.
Mainstream articles like this give me hope that the shift is happening. There's still a bit of "bad people use bitcoin" fear mongering thrown in, but most of the article and video in it were very positive. There have been 129 bitcoin obituaries already. They can no longer make fun of it. They have been fighting with regulations, but they already know that's a losing game based on the music industry. I think they are transitioning to "if you can't beat them, join them" territory. Now they must adapt to survive.
It's an exciting time to be involved in crypto. I hope my content helps you and others join the fun.
Some related posts you may find helpful:
- The Best Explanation of a Blockchain I've Ever Seen
- The Promise of the Blockchain by Vinay Gupta
- The Cryptocurrency Bank Spreadsheet
- A Simple Example of Shorting the U.S. Dollar With BitShares
- Steemit: Putting the Social Back into Social Media
