“Talking Head” Opinions: Who's Right?
There are probably many things going through your mind about Bitcoin, perhaps about cryptocurrencies, and blockchain technology in general. You're not alone. We've also struggled with grasping it's reality and guessing at it's future. But one thing is 100% guaranteed – one camp or another will be proven right. And nobody wants to be on the wrong side of that track. After all, how can you flat out ignore something that has a market capitalization* of about $200 Billion? So, how do you make the call? This is how we did it.
First, we ruled out two influence groups. Group one being the family or friend, group two the “wiser adviser”. Both of these groups are typically characterized by regurgitating a newsflash, without any first hand research. Sorry, but we have a strong “wiser adviser” phobia. Second, we ruled out anyone who has a vested interest in taking a stance against Bitcoin as a currency. Bankers come to mind, since their operations stand to lose a lot of revenue from transaction fees. Third, we ruled out any “experts” in the technology world who have built up an infrastructure which would be threatened by blockchain technology – no shortage of these folks either. And fourth, we also ruled out the fear mongers. So who's left?
We had to find “OUR influencers”. In our opinion, the most credible source of information – with a good track record for “reading” the future. It was our best bet to seriously consider the opinions of the people who have (a) nothing to gain or prove any longer (b) are already very successful (c) have already in some way changed the world. These are the folks who're statistically the best visionaries because they can somehow see over a longer horizon.
Yes – they can also get it wrong, and that's a risk – so we then looked for dissent. If a lot of folks with these qualities disagree, it becomes a tough call. But… they don't. So we knew we had to pay attention. So – as very short list; What are Bill Gates (Microsoft), Steve Wozniak (Apple), Richard Branson (Virgin empire), Ben Bernanke (former Chairman of the Federal Reserve), the International Monetary Fund (IMF) Managing Director Christine Lagarde and the like… say about Bitcoin?
To sum up the general consensus, expressed in different ways, by the people who we chose to listen to – and allow to influence us – we'll refer to the head of one of the most power global financial institutions:
Christine Lagarde, head of the IMF, succinctly said that…
…Bitcoin could cause massive disruptions in the global financial markets.
It's better than even odds that she knows what she's talking about. And we knew that Bitcoin is much, much bigger than simply a “new digital currency”. It's a waking giant of enormous proportions.
It's also very interesting to note that even a traditional American banking giant – Bank of America is Bullish on Bitcoin ETFs (Exchange Traded Funds.)
The biggest issue – which is either a problem or an opportunity – is volatility. The reality in business, is that opportunity and profit only exist when there's volatility. And it won't last forever. So if you're inclined to take part in this, in whatever form, then – in our opinion – you should think of volatility as your next best friend.
Think back a few years. Light bulbs, the motor car, cell phones – and of course the internet. This could be bigger than the internet from a global change perspective. And we're not just talking about Bitcoin – but blockchain, on which Bitcoin is built. Thank you Satoshi… whoever, wherever you are. You DID change the world.
Of course, this is only our opinion. But we took a stance, and we'll stick to it.
If you don't use gas lamps, travel by stage coach and write longhand letters sent by snail mail – you know that you can't hide from the future. And if you can't hide from the future, then look it in the eye, grab it with both hands and profit by it.