With so much happening in the cryptocurrency space, there’s a good chance you’re not going to catch all the must-read articles or blow-your-mind away videos. In this post, I’m going to share a few of the best things I’ve recently come across.
TOM LEE: THE ECONOMICS OF CRYPTOCURRENCIES
Found out about this in a recent issue of Marty’s Bent. In this must-watch presentation, Thomas Lee outlines how market circumstances and generational differences may drive investment into bitcoin and other cryptocurrencies. The presentation slides are packed of interesting things, which you can download here.
Thomas Lee is a fountain of bullish sentiment and the news sites love him for it. In a recent news post, he has predicted that one bitcoin may “surge to $125,000 by 2022”. In another, he predicts that we will a new all-time-high by July 2018. There’s another short clip from Thomas Lee in December which you might find interesting too.
BILL GATES: CRYPTOCURRENCIES KILL PEOPLE
Bill Gates recently did an AMA on Reddit and gave his opinion on cryptocurrencies. It was absurd. According to him, cryptocurrencies are a technology which has “caused deaths in a fairly direct way” through the facilitation of drug purchases. This views seems completely ill-informed. There’s a thread making fun of his comments here.
As noted by Andreas Antonopoulos: “throughout history, the most amazing technology is adopted by criminals first”. Thinking back to previous technological advances, this makes sense. Did we let that stop us before?
CHANGING BITCOIN’S PROOF-OF-WORK ALGORITHM
Cobra (co-owner of bitcoin.org and bitcointalk.org) has written a post which argues that the increased centralisation of Bitcoin mining by entities like Bitmain threatens the future of Bitcoin. It’s a short and interesting read.
LOUIS THOMAS: INVESTING LIFE SAVINGS INTO CRYPTOCURRENCIES
Louis Thomas is a UK-based YouTuber who invested his life savings into cryptocurrencies one year ago. Just want to talk around this for a moment. Not investment advice either, justramblings. If you’re young and don’t have a large pot of savings, taking such a risk does make a lot of sense. Yes, it is sensible to take a balanced approach with a mixture of high, medium, and low-risk investments. But if you were going to go all-in on something risky (like cryptocurrencies), then when would be the best time in your life? When you’re middle-aged with a sizeable pot of savings? Or when you’re young and can ‘bounce back’ if it all turns sour?