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
- Cryptocurrency, Autonomous Vehicles, and Energy Efficiency Are Key to NVIDIA's Growthon March 2, 2021 at 8:25 am
The company's 61% year-over-year revenue growth that was driven by record video gaming and data center sales captured the headlines. But NVIDIA is benefiting from other trends in the economy too, ...
- This Utah Startup Just Raised $100 Million To Solve Cryptocurrency’s Looming Tax Problemon March 2, 2021 at 7:52 am
TaxBit's $100 million Series A from Paradigm and Tiger Global is Utah's biggest-ever as the startup is looking to build the ERP of cryptocurrency.
- Goldman (GS) Reopens Cryptocurrency Desk as Bitcoins Surgeon March 2, 2021 at 6:40 am
Remarkable surge in prices and growing interest of institutions in the digital assets market influence Goldman (GS) to restart crypto trading operations.
- Making A List Of The Top Cryptocurrency Stocks To Watch? 4 Names To Knowon March 2, 2021 at 6:07 am
For starters, Future FinTech is a cryptocurrency company that is in focus now. In brief, it is a leading blockchain-based e-commerce business and fintech service, provider. The company’s main ...
- Turkish finance ministry to study cryptocurrency with local regualtorson March 2, 2021 at 3:49 am
Local experts think that consumer protection is the primary focus of new government interest in cryptocurrencies in Turkey.
- Goldman Sachs Set to Jump Back Into Cryptocurrency Tradingon March 1, 2021 at 5:31 pm
Goldman Sachs Group Inc. is restarting a trading desk for cryptocurrencies amid a surge in the value of Bitcoin, a person familiar with the effort said.
- N.Y. Attorney General Issues Investor Warnings on Cryptocurrencyon March 1, 2021 at 3:37 pm
New York State Attorney General Letitia James urges investors to be extremely cautious with bitcoin and its crypto brethren.
- Goldman Sachs restarts cryptocurrency trading and will begin trading bitcoin futures for clients next week, report sayson March 1, 2021 at 12:11 pm
The cryptocurrency trading desk will be a part of the US Global Markets division. The bank is also said to be exploring a bitcoin ETF.
- Goldman Sachs Revives Plan for Cryptocurrency Trading Deskon March 1, 2021 at 11:44 am
Goldman Sachs is restarting a plan for a cryptocurrency trading desk, a report says. The firm had shelved such a plan in 2018 due to regulatory concern.
- New York attorney general warns cryptocurrency industry: 'Play by the rules or we will shut you down'on March 1, 2021 at 10:51 am
The Empire State's attorney general warned individual investors and crypto industry players of the perils of digital assets.
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