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
- ‘Blockchain’ and ‘cryptocurrency’ dominate active trademarks in U.S. government databaseon June 27, 2020 at 8:48 am
The most popular blockchain-related terms across all active trademarks in the U.S. are “Blockchain” and “Cryptocurrency,” according to The Block’s recent research findings.The post 'Blockchain' and ...
- Acting Comptroller Of The ‘Cryptocurrency’ Brian Brooks To Unveil New Payments Charteron June 27, 2020 at 3:12 am
Brooks is quickly proving himself to be a maverick in his new role. Sparks jokingly described Brooks at the beginning of the interview as the Acting Comptroller of the Cryptocurrency based on his ...
- Sudrania Fund Services Unveils Cryptocurrency Fund Administration Solutionon June 26, 2020 at 11:20 am
Sudrania Fund Services Corp ("Sudrania") today announces the unveiling of Seamless Crypto, its full-scale fund administrat ...
- $200m Spear Phished from Cryptocurrency Exchangeson June 26, 2020 at 7:46 am
A newly detected threat group has stolen an estimated minimum of $200m from cryptocurrency exchanges in just two years. The dastardly deeds of cyber-criminal organization CryptoCore were discovered by ...
- Why Cryptocurrency Could Be A Safe Haven During Current Health & Economic Crisison June 26, 2020 at 7:30 am
Palm Beach, FL - June 26, 2020 - Even prior to the arrival of the current world health pandemic, many cryptocurrency believers have been confident in crypto’s ability to securely serve as a safe ...
- Why Cryptocurrency Could be a Safe Haven During Current Health and Economic Crisison June 26, 2020 at 7:30 am
A recent article by an industry insider observer, Cointelegraph.com discussed this, saying: "With the COVID-19 pandemic rearranging society at every level, the allure of a safe haven reigns supreme ...
- First Mover: In the Cryptocurrency Markets, No Two Exchanges Are Alikeon June 26, 2020 at 6:08 am
Even in super liquid cryptocurrency markets, such as USD and bitcoin trading pairs, the size and spreads of exchange order books can vary markedly.
- Feds Charge Famed Lobbyist Jack Abramoff With Fraud In Cryptocurrency Caseon June 26, 2020 at 5:46 am
Jack Abramoff, a once-powerful lobbyist who spent time in federal prison for fraud and corruption, has been charged in a San Francisco court in an investor fraud case involving cryptocurrency and ...
- Cryptocurrency News Update: Bitcoin volatility is about to explodeon June 26, 2020 at 12:10 am
Among the 100 most important cryptocurrencies, Bitcoin Diamond(BCD) $0.7225 (+10.12%), Celsius (CEL) $0.3310 (+9.3%), Ontology (ONT) $0.6428 (+8.5%). The day's losers are Flexacoin (FXC) $0.0028 (+14.
- Lobbyist Jack Abramoff to plead guilty in cryptocurrency fraud caseon June 25, 2020 at 9:57 pm
Abramoff will plead guilty to violating federal law in connection with an alleged fraudulent offering of the cryptocurrency AML Bitcoin.
via Bing News