Cryptocurrency Blog

To live and die in Crypto – what the future hodls. 02.07.2018

So if there is one thing that BTC has proven to be a pattern it is the many times it was announced dead. On this website we can beautifully see the 319 times Bitcoin has died so far.
So, the question here for me really is, what triggers people to call death on BTC as the main posterchild of Crypto? Especially since its mind-boggling race to the moon (and almost back by now) in 2017 BTC has enjoyed a brief super star experience. But did it really? Yes, my Mom knows know what Bitcoin is, or more accurately that it exists, was on the news almost every day especially in Q3 and Q4 2017 but now has faded away a lot. But does she really know anything about what a decentralized peer-2-peer currency is? I mean at least a basic understanding of the concept? I am not sure she does. So in a simple way, real awareness about what this means is yet in an infant state. Granted it has grown a lot but also cooled off a lot again especially as 2018 has been brutal in its ever-declining price action.
Now, the big question is, was this it? Was this brief moment of ecstatic joy in 2017 a classical shooting star that is only crashing and burning down from here on? Have the tulip folks been right all along? I personally think nobody really knows.
A really enjoyable listen is to be found here using the basis of Metcalfe’s law:
Yes many will argue, but BTC is a fake, it is controlled by very few as this article on businessinsider.com suggests as well.

Whatever price projection is the truth, as nobody can really know it and is therefore speculating, none of that matters in my humble opinion.
To me the more important point of view is, can we as a society, again unlearn the concept of a blockchain, that allows trustless transaction for everyone. There are so many ways of how this could find application that you don’t even know where to start. Or can we forget about it that there indeed now is an alternative from of currency and storage of value outside the current FIAT system that hints a fairer monetary system “from the people by the people”?
The short answer is yes, we could forget, yes, we could unlearn. How were the pyramids built? I have no *!#$%&! idea, do you? So, we must not forget and continue to explore seems the key here.

How do we not forget? By learning, especially with the technology we have today we cannot simply burn a library in Alexandria with he world’s knowledge in it.
Joking aside, my point is that the only way for this to continue to develop is the more people and minds get involved in both development and application. This is where we at Bit-learn wants to contribute. We strife to make Crypto easily accessible to everyone, we put effort into developing learning methods that are easy to follow. Kick of an avalanche that builds mass over the years.
One thing that keeps me very hopeful is that, we often hear so much about millennials, or baby boomers, but there are many generations in between that have something in common with their children, which I think other generations did not have. We overlap in our ability to understand technology. Parents and children can easily play video games together, use social media outlets together etc. so the also same for means of payment and blockchain usage. There are infinite ways how this closeness between parents, even a growing number of grandparents and children can spark a wave of cooperation effort to develop the future together in a way we may not even be able to picture today.
So regardless of price action, to get into Crypto, to learn about Crypto, blockchain and dive into that universe, has many positive aspects to the development of the future of humans on earth. From my own personal perspective, it means spreading awareness, providing education, application, develop programs, projects, bring people together, to think, outsmart old ways working together, that is the real value of the Bitcoin price, and if there is one thing I will continue to be hopelessly bullish about, it is the ability and the will to create a better future for all of us here.

We at Bit-learn are joining this exciting chapter and we invite you all to join along.

Yours Alexander Douedari of bit-learn

Are the tides finally turning in favour of mass adoption? 20.06.2018

While doing my daily browsing through the latest Cryptocurrency news I stumbled upon this rather short article about a comment made by Lloyd Blankfein (CEO of Goldman Sachs)

Now before going into more detail on why I think this comment are worthwhile writing about lets have a closer look on who this gentleman and the company he is spearheading actually are.

Goldman Sachs is among the worlds largest Investment Banks with a market capitalisation of 103 Billion USD (as of March 20th 2018). Usually if there is money to be earned somewhere on the financial markets Goldman Sachs will be one of the first larger institutions to harvest it. I myself have seen them entering the world of algo trading for example during my years as a Stock & FX Daytrader and we are currently seeing it happening with Cryptocurrencies as they are preparing to set up a trading desk for bitcoin.

Even more interesting are Goldman Sachs ties to governments all over the world. Ex employees of Goldman have a good tradition of entering influencial roles in public service after their time for the investment bank. This tradition dates back all the way to US president Franklin D. Roosevelt

Recent prominent (and very influencial) examples are Mario Draghi (President of the European Central Bank!) and Stephen K. Bannon (former Chief strategist to president Donald Trump).

Claiming that Goldman Sachs is well connected would be an understatement…

Now, other than his colleage Jamie Dimon (CEO of JP Morgan) Lloyd Blankfein has never been openly and aggressivly against Cryptocurrencies but stayed rather open minded. His statement from yesterday goes even 1 step further, saying that “it would be unwise to dismiss cryptocurrencies entirely as the possible evolution of money from fiat to crypto might make sense in the future.”
Ladies & gentleman, one of the most influencial people of the financial industry has just declared that he can imagine Cryptocurrencies being the next evolution of fiat money…. . In my opinion this is astonishing as it shows me that the tides are slowly beginning to turn towards mass adoption of Cryptocurrencies. Maybe not now or next month, but imagine all those Goldman Sachs bankers entering influencial jobs in public service a couple of years down the line….people that are very open minded about the idea of Cryptrocurrencies and decentralisation.

The time to educate yourself about this revolution and to maybe try your first steps with Cryptocurrencies is now when there still is time. Don’t miss out or you might be overrun by a Tsunami a couple of years down the road.

Yours

Dirk Hartig of Bit-learn

Bitcoin could bring the internet to a halt! 18.06.2018

The Bank of international settlements has warned today that bitcoin could bring the internet to a halt

For people like me being north of the age of 40 that still remember a time without the internet and eye witnessed the rise of the internet statements like this are just too familiar:

– email will bring the internet to a halt!

– email attachments will bring the internet to a halt!

– Voice over IP will bring the internet to a halt!

– Skype will bring the internet to a halt!

– Video streaming will bring the internet to a halt!

– HD video streaming will bring the internet to a halt!

– Bitcoin will bring the internet to a halt!

People have difficulties to accept that technologies scale at a rate that makes applications possible that just 5 years ago still might have sounded like sci-fi! This is especially true for the banking industry….one of the very few industries out there that have failed to innovate within the last 100 years.

 

For more (rather funny) fails in predicting the impact of technology I recommend this very entertaining video of watchMojo.com.

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