The very first Blockchain Believers (BB) original content piece. Originally posted on my first blog in June/2017 when BB was just an idea. Look for much more original content and blockchain insider insights as we ramp up!
What if you could travel back in time to 1990 with the knowledge of how technology evolved until the year 2017. What if there were shares (or tokens) that you could purchase to be a part owner of this new breakthrough, game changing technology? You have full knowledge of the coming dot.com boom/bust, high-speed networking, social networking, mobile networking, cloud computing, and the other great and wonderful things to come.
You know all about Tim Berners-Lee’s invention of the world-wide web (WWW) and the associated innovations that were a result. You know about Amazon, Apple, Google, Facebook, YouTube, PayPal, etc. You know about all the revolution that will all be built on top of the network that you could partially own.
Would you purchase one share (or one token) in this revolutionary new technology? Would you invest a few hundred (or few thousand) and take a chance? Why of course you would! In fact, you would not only buy one share or token, you would probably buy all you possibly could! “Back up the truck” would be the expression of the day.
The good news is this fantasy flashback (you could technically never buy a piece of the “internet”) has become a reality in 2017. Of course I’m talking about bitcoin/blockchain technology. Blockchain today is like the internet in 1990/1991. What we’re seeing is a new monetary system and new global business system being born.
Bitcoin and blockchain have certainly been getting a lot of press lately with most of it being very positive. As a result bitcoin, ethereum, and other similar coins have seen some spectacular gains in a few short months. Many are wondering if they’re late to the game, if they have missed the boat, if it’s all a smoke and mirrors ponzi scheme, etc.
My response to some well justified questions and fears is “would you have been late if you purchased a piece of the internet in 1993 when the world-wide web was just coming out?” Of course not! The fun was just getting started. That’s where blockchain is today.
This year will see some of the first real world implementations of value creating applications and solutions based on the blockchain. We’re also seeing rapid global adoption of bitcoin as a currency, money transfer, and payment system. All it takes to join this system is the download of a free bitcoin wallet and make a fiat money purchase through on-line exchanges, bitcoin ATMs, even local meet-ups for person to person transactions. It is totally free to get involved and low cost to participate or do business.
I’m recommending to all my friends and family to get involved buy purchasing what I call the “power couple” of blockchain… Bitcoin and Ethereum. Buy both, hold for 5-10 years… and you’ll be unbelievably happy with your decision and the exponential gains that will result. There are hundreds of “alt-coins” out there that represent other businesses (some less than businesses) but those are much more speculative and risky. Stay with the power couple unless you really understand the space or have expert advice from someone like myself.
Bitcoin is proving to be both a currency (method of exchange) in addition to money (store of value). The world has never before seen something so powerful in it’s ability to create and unlock value for both the ordinary person as well as big business.
Ethereum is not taking the currency/money approach as with the original bitcoin. They created a blockchain based platform that can be programmed with “smart contracts” or contracts as code. This approach like bitcoin will revolutionize the way we do business by removing layers of intermediaries, processing systems, validation systems, legal expenses. Contracts as code can self execute based on parameters saving billions in costs to provide these systems today.
The early adopters of bitcoin and blockchain will be wildly successful realizing huge gains over the next five or ten years. The next generation of blockchain millionaires is being minted before our eyes. And you have the opportunity to participate in a “fairly” easy fashion. Once of the criticisms of blockchain is it’s too difficult to use. That killer app is coming just like the WWW did for the internet.
The businesses who do not innovate with blockchain will likely go the way of Blockbuster or Pets.com and in fairly short order. In fact, blockchain has the possibility to “out disrupt the disrupters” (uber, airbnb, facebook, etc) with totally new ways to conduct peer-to-peer and person to person business without the need for a third party intermediaries owning the relationship.
The transformation and wealth transfer that is underway will be unlike anything we’ve see before on the planet. The internet revolution would be the closest example but even that will pale in comparison to what blockchain will enable and achieve over the next decade or two.
So start to learn about this technology, begin to get comfortable, and plop down a few bucks that you’re comfortable to spend and get started. Dollar cost average over time is the safest approach for long term holds. Buy and hold the “power couple” and watch for the WWW killer app of blockchain.
You too can be an owner of everything that is to come. Everything that is being built on this revolutionary breakthrough. The opportunities for gains should be massive with you and I, the average person, being able to participate… possibly even become the next blockchain millionaires.
So do your own research… get comfortable with the technology and value proposition… and jump on in to blockchain!