Well, whether you’re a crypto enthusiast out or someone who’d rather drink your cat’s pee, listen up cause here’s a bucketful of insights on the digital coins that may (or may not) take over the planet.
1. Facebook’s Main Guy
Mark Zuckerberg is reportedly considering cryptocurrency for the social networking site. Not only is he the founder and CEO, Zuckerberg is also a regular user of Facebook, in which he frequently posts about his present activities and updates on his profile’s wall. In a certain post, Zuckerberg wrote that he wants to challenge himself this year to learn more about the remaining role of technology to “give people the power.”
The CEO stated:
[O]ne of the most interesting questions in technology right now is about centralization vs decentralization. A lot of us got into technology because we believe it can be a decentralizing force that puts more power in people’s hands.
Zuckerberg added that he sees cryptocurrency and encryption as potential tools to give people back the power that’s currently grasped by centralized systems. “I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services,” wrote Zuckerberg.
2. Rich Crazy Branson
While trying to make commercial space flights a reality, the Virgin Group founder is also busy investing in cryptocurrency. He even announced in late 2013 that he would accept bitcoins as a form of ticket payment on Virgin Galactic, his upcoming commercial space travel service. Six customers then booked and paid their flights in bitcoin only a few months after the announcement.
Not long after, Richard Branson and his love for the digital coins led to a $30 million investment into bitcoin startup Bitpay. Later in September 2014, he expressed his satisfaction in Bitcoin’s future at the same time noting its volatility. “It is quite volatile, but in volatility people can make money,” Branson told Bloomberg News in an interview.
3. Crypto Mayweather
The top highest-paid athlete does not only endorse big brands on his fights, Floyd “Money” Mayweather is also one of the most active celebrity endorsers in the cryptocurrency market. Earlier in 2017, Mayweather endorsed Stox.com, the ICO for blockchain prediction platform. The undefeated boxer followed it with another promotion from the blockchain-based decentralized content marketplace Hubii Network a month later.
Another month after that, Mayweather signed on to being the brand ambassador for cryptocurrency platform Centra. His endorsements proves to be as powerful as his right jab, with Centra earning more than $30 million just weeks after Mayweather endorsing their ICOs. That’s why the revered boxer bid goodbye to “Money Mayweather” and said hello to “Crypto Mayweather.”
To give you a heads up, it kinda gets downhill from here. Now, let’s hear the critics.
4. Bill “Closed Crypto” Gates
Before Microsoft Co-Founder Bill Gates jumped on the bandwagon, he was not a fan of cryptocurrencies. In a Reddit AMA earlier this year, the richest man in the world expressed his opinion that the anonymity behind cryptocurrencies is not a “good thing,” saying that society benefits when the governments can identify money laundered, tax evader, and the people funding terrorists.
The main feature of crypto currencies is their anonymity. I don’t think this is a good thing. The Government’s ability to find money laundering and tax evasion and terrorist funding is a good thing. Right now crypto currencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way. I think the speculative wave around ICOs and crypto currencies is super risky for those who go long.
One Reddit user replied to say that you can buy Fentanyl with cash. Gates defended his initial statement saying, “Yes — anonymous cash is used for these kinds of things but you have to be physically present to transfer it which makes things like kidnapping payments more difficult.”
It should be taken into account that cryptocurrency fans believe that decentralization of power and low-cost international money transfers are actually some of the more irresistible features of digital currencies.
5. Nobel-winning/Anti-crypto Economist
This one might enrage crypto enthusiasts out there. But Nobel laureate Joseph Stiglitz is not changing his stance on Bitcoin and how it is “successful only because of its potential for circumvention [and] lack of oversight.” Yes, he actually called for it to be banned.
In a Bloomberg Television interview, Stiglitz expressed that the cryptocurrency doesn’t serve any socially useful function, saying with a firm belief that the digital coin is bubble that will give “a lot of people a lot of exciting times as it rides up and then goes down.” The economist, along with fellow Nobel Prize laureate Robert Shiller, further implied Bitcoin’s rise is unsustainable and a price collapse is almost unavoidable.
6. The Starbucks Man
It is not just Bitcoin the Starbucks Corp. Chairman Howard Schultz is concerned about, rather he believes digital currency as a whole will catch on with consumers. However, as an early adopter of smartphone payments, Starbucks is set to take advantage of cryptocurrency and blockchain in the future; as the emerging technologies become more popular among consumers. He’s just not absolute if Bitcoin would will still be around.
The reason I mention this is not because I’m talking about Bitcoin because I don’t believe that Bitcoin is going to be a currency today or in the future, I’m talking about the new technology of blockchain and the possibility of what could happen not in the near term.
According to Bloomberg, Starbucks was not planning to launch its own version of Bitcoin but he believes that they can help bring “legitimacy and trust” to cryptocurrencies.
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