Why I’m Stacking Satoshis

Bitcoin V. Baby Boomers

Bitcoin is supported by some of the brightest minds in technology. By far, the most successful investors in technology believe bitcoin is a viable form of currency. Venture capital firms such as Khosla Ventures, Union Square Ventures, Lightspeed, and A16Z have been funding bitcoin projects for some time (circa 2013 and 2014). In an editorial written in 2014, Marc Andreessen put it aptly that there could not be a bigger divide between how technologists feel about bitcoin and how the rest of the world sees bitcoin. He argued that the ongoing movement by researchers and developers to bring this technology to the market will eventually win out over the public’s unwarranted bias.

Economic Uncertainty: Look Beyond the United States

In addition to the benefits of decentralization for security purposes and to reduce the intermediary fees involved with transfers, bitcoin is also more attractive than many foreign currencies. For instance, even when Bitcoin lost value from $19,000 to $3,000, it still out-performed the inflation of Venezuela’s currency. On the flip side, when bitcoin rises in value from $5,000 to $11,000, it allows global populations to hold an appreciating asset.

Retailers on Board

Paying for daily goods with a mobile wallet, tied to crypto, will become effortless in the years to come. One of the leading startups right now is Flexa’s SPEDN, which is linked to fifteen retailers, such as Whole Foods, Barnes and Noble, Nordstrom, Petco, Ulta Beauty, Lowe’s and Bed, Bath and Beyond. Several other online retailers accept bitcoin, as well, including brands such as Expedia, Hotels.com, Virgin Mobile, AT&T, etcetera.

CONCLUSION:

Too many critics misunderstand how development around Bitcoin, Ethereum and blockchain protocols improves the fiat system by removing unnecessary costs. Most recently, the Lightning Network has helped mobile payments.

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Beth Kindig

Beth Kindig

1.4K Followers

CEO and Lead Tech Analyst for the I/O Fund with cumulative audited results of 141%, beating Ark and other leading active tech funds over four audit periods in 2