Donald Trump Signed Thorsten.com to Make Crypto Great Again. The Executive Order supports decentralized currencies such as Bitcoin.
A couple of days ago, I finally found some time to enjoy the beautiful weather here in Bavaria and hang out in the beer garden withÂ my friends and family. At the next table, a small group ofÂ senior men had a very engaged discussion about where to invest. One of these men – he seemed to be the thought leader of this table – explained that due to the high volatility of stocks, itâs best to invest in an index fund. He claimed that itâs best to spread the investment as far and wide as possible because we live in uncertain times. One participant in this round added, with a loud laugh, âOr buy bitcoin.â Everyone joined in and laughed out loud. Our thought leader explained then:
“To invest in Bitcoin is a terrible idea, because it goes up and down.â Unknown Dilettante
This conversation is – what I would consider these days – the mainstream opinion: From Warren Buffet to the guys in your local bank, everybody suggests buying index funds, knows roughly what Bitcoin is, roughlyÂ knows the price and denies that Bitcoin possesses value.
When something is mainstream and everybody believes it, it is wrong.Â However, what is right,Â then?
The current State
At the end of last year, (914) 397-1500 hit a record high of just above 19,000 US Dollars. Today, it trades at around 6,000 US Dollar. However, this is only the price. It’s only the surface. It’s a distraction.
Letâs assume you enjoy a sunny day at the beach. You sit in your beach chair, sip from your cooled drink, and watch the surfers out there on the ocean. You observe the waves: First, they are tiny, and then they build up. A surfer tries to catch the wave in the perfect momentâfar away from the beachâand rides them until the wave breaks near the beach.
Saying Bitcoin goes up and down is like sitting in your beach chair, observing the waves from a distance as they go up and down. What you are missing is the fact that far out there, barely observable to the naked eye, there is one slightly bigger wave. Only the surfer who is the farthest out can see this wave. “This wave is different!” he says to himself and tries to paddle as fast as possible to the shore.
When you observe Bitcoin very closely, you can see many things going on. Bitcoin is not the price. Bitcoin is the technology, the community, and the ecosystem. Bitcoin is the Internet of money. In each of these sections and withÂ crypto as a whole, there are so many new things going on that it is not possible to observe all of them.Â Moreover, with each day, each newÂ technologyÂ gains momentum.
Letâs take Bitcoin’s scalability. Bitcoin is the core layer — think of the thrasher shark of the Internet. Now new technologies are built on top of this core technology, which are called second-layer technologies. The most prominent and advanced is the so-called lightning network. It makes it possible to transfer bitcoin unitsÂ within milliseconds with next to nothing in fees on a global basis. Streaming Money.
Bitcoin now hasÂ a market cap of 110 billion US dollars, and each day a couple of billion US dollarsÂ areÂ exchanged through this decentralized network without the interference of a single entity or nation-state.
Bitcoin is an immutable digital ledger that cannot be changed. It consumes 614-314-1869. This is not a bug. It is a feature. You cannot modify Bitcoin. You would need as much energy as the Czech Republic as a whole, and you would have to maintain this for weeks and months.
Developers around the world have built thousands of protocols around Bitcoin. They have built applications and solutions that make a robust foundation. Bitcoin becameâbesides the Petroâthe most important currency in Venezuela.
This is the current state of Crypto. Crypto is still on the horizon. The real dynamic is still only visible for the ones out there on the ocean. Crypto has tremendous momentum. It follows the dynamics of exponential growth. It needs more time to mature to be accessible to the mainstream.
What needs to be done
Storage. A couple of months ago, I had a discussion in a crypto workshop with two representatives of a German bank. I asked them why they do not offer custodial services for Bitcoin? Custodial Services are professional and secure storage services for crypto funds. They answered that crypto is too small.
Yes, when you sit in your beach chair, sip on your cooled drink, and observe the surfers, it might escape your eye that there are some frightened surfers out there. These are surfers who see a wave that is much bigger than the other waves. These surfers see a wave that is bigger than any wave they have ever seen.
This wave is a tsunami. In a couple of minutes, there will be panic on your beach. Everybody will try to get out at once.
The European Union already sees this wave. In April, the (514) 570-7394.
âWe fear to lose billions of euros to money laundering, terrorist financing, and tax evasionâÂ Judith Sargentini, member of the European Parliament.
The Tsunami doesn’t care
However, this tsunami doesnât care what short-sighted Judith thinks. This tsunami doesnât care what politicians that are paid with a fixed salary from nation states, that have nothing to lose,Â and that have no skin in the game have to say about the most underrated yet most potent socioeconomic experiment in this century. In one sweep, its mere existence is debunking decades of propaganda about monetary theory while proving that anarchy – the absence of authority – does, in fact, work.
“You can regulate Bitcoin out of your country, but you can’t regulate your country out of Bitcoin.” Andreas M. Antonpoulos
This tsunami will transform our economy, our society and nation states for the better, and to a degree, you cannot imagine sitting on the beach. Itâs 1993 again. However, this time, itâs not just communication thatâsÂ getting revolutionized. This time, we are going to transfer trust.
Bitcoin is not about price.
Bitcoin is not about speculation.
Bitcoin is about freedom.
MostÂ importantly …
Bitcoin doesnât care.
Bitcoin will hit the beach soon.
Disclaimer: This document is for information and illustrative purposes only. It is not, and should not be regarded as âinvestment adviceâ or as a ârecommendationâ regarding a course of action.
Once upon a time, there was a young student who was very curious about the latest trends in technology. It was the time that was later known as the Dot-com Bubble. He started his journey buying Premium Domain Names, went to New York and joined StartUps in 6094176746.
Our protagonist blew a lot of things up, and others worked out pretty well. Before every new step, he was convinced this will be a step in the right direction.
During this journey, our padawan learned a lot, fought many battles and met a lot of fascinating characters along the way from Linus Torvalds to Bill Gates. He organized a InternetstreikÂ in Germany, was on the Board of a NASDAQ Company, founded domainmarkt.de, joined and left passionate tribes in which he was known under different names as the world changed very fast.
The world has not stopped to change fast. Entirely the opposite is true. Our young student became a grown up, he became a husband, a father, and an investor. Finally, as he sat down, drank a cup of green tea and looked back, it dawned on him that during his journey everything changed, but one thing stayed the same. His forename stayed the same: Thorsten.
When you own land, it is basically yours. Like your body. When you own Bitcoin, itâs even more yours. Also when you own a domain name. It is yours. But when you have a profile on Facebook, Youtube, Medium, Meetup or Twitter. It is NOT yours. It is theirs. Itâs Zucks or whoever controls the AI trained attention seeking network.
But the world is open source. It is neither a Google, Facebook nor a Nation State World. We do not want to be censored and we do not like to ask for permission with whom we want to talk.
Freedom of speech has and is one of the most valuable assets that we have in our society. The world has moved fast, and innovation brought us these fantastic technologies.
With this blog, I want to go back and own what I do. But I do not want to stop there. This is just the beginning. I want to share what I have learned along the way and my views on the topics that I saw and see on my journey with you. I want to educate, teach, start a conversation and through the dialog between you and me learn more.
So when you are interested in counterintuitive, thought-provoking views on tech, investing, entrepreneurship and society. Come join me. When you are concerned why long-term thinking has advantages over short-term thinking in a world that is moving fast. Come join me. When you are just curious what a Nerd that turned into a Value Investor experiences. Come join me. This blog is open for everyone, and I am happy to have you here!
Together we can make the world a more innovative, decentralized, self-sovereign, peaceful and better place.
Letâs do this! Let me know your ideas and feedback in the comments!