I was recently (virtually) introduced to Simon de la Rouviere after reading his recent article, “In the Future, Everyone Will Have Their Own Cryptocurrency.” Simon makes a bold prediction: personal cryptocurrencies will be the norm in the next 10 to 20 years.
Having your own coin isn’t so different from my current practice of selling “shares” of myself. The difference is in the technology, which should be pretty invisible to the average user. What the user cares about is the value of the person, and in order to determine that, a person needs a clear plan or thesis for how they will live.
Imagine I sold shares of myself but never allowed shareholders to vote on how I live my life. Without my thesis about the wisdom of crowd-based investing, it’s just an ask for money: people give me money and I get to do whatever I want. That’s not very interesting or valuable to any potential investors. By adding a thesis about collective decision-making and backing that belief up with technology, the experiment in selling my shares gains meaning.
Simon points out that personal coins will develop gradually: “We will start seeing (mostly tech) people slowly but surely minting their own coins…until a platform exists for anyone to easily create one, and allowing easier and quicker exchange between them.” I don’t completely disagree, but think this is nonetheless a grand understatement. Practically speaking, obtaining cryptocurrencies, let alone creating them, is nearly impossible for most of us.
Consider the most well known cryptocurrency of them all, Bitcoin. The first Google result for “how to buy bitcoins” starts by pointing out that that “the existing Buying bitcoins page is too complex” and then warns, “Bitcoin services are not highly regulated. A service can continue operating even when it is widely believed that it is insecure or dishonest.” If that doesn’t scare you off, you then run into the problem of dollars and Bitcoin being like oil and water: “You can’t directly buy Bitcoins using PayPal.” More confusing still, there is a service that “accepts credit cards via PayPal (or Skrill) but you have to buy SLL which you can then trade for Bitcoin.”
The Latest on: Cryptocurrency
via Google News
The Latest on: Cryptocurrency
- Actor Steven Seagal settles SEC case over undisclosed payments for touting cryptocurrencyon February 27, 2020 at 4:57 pm
An SEC order said actor Steven Seagal agreed to pay $314,000 in disgorgement and penalties for violating anti-touting provisions of federal securities laws in promoting Bitcoiin2Gen, a cryptocurrency ...
- Steven Seagal to Pay $314,000 to SEC for 'Unlawfully Touting' Cryptocurrency Investmenton February 27, 2020 at 3:50 pm
Actor Steven Seagal's wallet just took a hit, with the Securities and Exchange Commission on Thursday announcing the former action star will pay a $314,000 settlement for "unlawfully touting" a ...
- Steven Seagal Finds Himself Under Siege By SEC After Failing To Disclose Cryptocurrency Earningson February 27, 2020 at 2:31 pm
Action movie star Steven Seagal is currently On Deadly Ground (1994) with the SEC after the government agency found the actor--and reserve deputy chief in the Jefferson Parish, Louisiana Sheriff's ...
- Action Star Steven Seagal Hit With SEC Fine Over Shady Cryptocurrency Dealon February 27, 2020 at 1:28 pm
(Photo by Kirill Kukhmar\TASS via Getty Images) US regulators are forcing former action star Steven Seagal to pay up for failing to disclose payment related to endorsing a cryptocurrency back in 2018.
- Steven Seagal Settles Charges of Unlawfully Promoting Cryptocurrencyon February 27, 2020 at 12:57 pm
The Securities and Exchange Commission said that the actor was paid to promote the initial coin offering for a cryptocurrency company but did not properly disclose the agreement. Steven Seagal, the ...
- Steven Seagal charged with illegally touting cryptocurrency offeringon February 27, 2020 at 11:50 am
The U.S. Securities and Exchange Commission on Thursday said it had settled charges against Steven Seagal over the actor's failing to disclose he was being paid to pitch investing in an initial coin ...
- U.S. SEC Out for Justice Over Steven Seagal's Cryptocurrency Marketingon February 27, 2020 at 8:39 am
FILE PHOTO: U.S. actor Steven Seagal watches the Victory Day parade, marking the 73rd anniversary of the victory over Nazi Germany in World War Two, at Red Square in Moscow, Russia May 9, 2018.
- Steven Seagal Charged With Unlawfully Touting Cryptocurrencyon February 27, 2020 at 6:50 am
offering by the Securities and Exchange Commission. The 67-year-old actor allegedly failed to disclose he was promised $250,000 in cash and $750,000 worth of Bitcoiin2Gen (B2G) tokens in exchange for ...
- Can cryptocurrency become the UN money of the future?on February 27, 2020 at 4:02 am
These projects often remain confined to the realm of experiments. But a recent undertaking by UNICEF, the UN agency tasked with providing aid to children around the world, now offers what could be a ...
- Cryptocurrency in Focus: Ethereum Is on Fireon February 26, 2020 at 2:00 pm
Leading cryptocurrency project Ethereum has seen its fundamentals on the rise lately, as decentralized finance crosses the $1-billion mark this month. That's big news for the project, because Ethereum ...
via Bing News