"If Elon accumulated a large amount of bitcoin and it would end up being worth several hundred thousand per unit, the man could solve his cash flow for any madness he wants to try in the future." This one comes from one of the most renowned Bitcoin investors from Romania and a brilliant businessman.
Bitcoin could at some point become the supreme store of value and for a digital age that we're gradually sliding into, it makes a lot of sense. Same as AI makes sense if used in a productive way. I know some are still attached to the palpable side of the world we currently live in and that see little to no value in this type of digital currencies, but time will change their views 180 degrees.
Elon might probably have become the largest Bitcoin whale if he's accumulating all the way down in this correction and he would even go further and start mining it with the use of renewable energy, as he seems to be highly involved in "keeping the planet clean". To what extent he will be able to achieve that is way out of my reach, what I do know is this guy knows how to make money and has the eyes for cashing into the future.
Blockchain won't be the bread and the water for life on earth, but it will indeed disrupt a lot on its way. India's central bank confirms cryptocurrencies aren't banned - and says its 2018 order barring banks from crypto transactions is no longer valid. Congratulations India, this is your chance to still onboard the crypto train.
This technology(blockchain) is here to stay and it's clearly designed to solve problems, rather than help humanity drain even more in the swamp the oligarchs of the world have created over decades, if not centuries. Central bank digital currencies could use networks like ethereum, China's former digital yuan chief says and the linked report mentions something about smart contracts involving CBDCs as well.
Isn't that bullish? Yes and no... The news is definitely impacting the crypto market in a positive way, same as the recent ones regarding India "unbanning Bitcoin" for the tenth time I guess. I don't bite into it though. China is a communist country with surveillance habits that won't be left to starve over some Ethereum blockchain that can make wonders for the users of such tech.
China wants total control over its population and has high chances of achieving that. Hence I believe it will create its own network of working CBDCs... You don't have to use CBDCs to be able to spend crypto around though and Coinbase with its Debit Card that Now Works With Apple Pay is the next player offering the option of real life crypto spending and cash back rewards via a card.
I've been using the Binance VISA one and it works flawlessly. If we want mass adoption for crypto then we definitely need to use cryptocurrencies as money, pretty much as they were designed for. The perfect scenario would be if we get merchants accepting crypto directly as payments, but we need to start somewhere. At some point when the demand for crypto will grow we will definitely have the option of using real wallets and hardcore crypto for real life shopping.
You have to first put crypto in the hands of the masses and that's what Boerse Stuttgart does with its Digital Exchange launching crypto trading mobile app. There's not much options to choose from when you can only buy BTC, ETH, LTC and XRP via this app, but at least there's a step forward for the industry.
I was thinking today that there are chances NFTs will gradually fade away and become another dead trend in crypto. I was damn wrong, as I am quite often when judging the evolution of this industry. According to Decrypt, Marilyn Monroe’s Legacy to Be ‘Eternalized’ via NFT Artwork Auction... What can you say about that?
I'll tell you what, the digital soup that's being cooked for us is something we've never tasted before and it would be such a pity to be left at a tiny table eating with the smallest spoon. Elon knows that, India seems to be realizing it on its own sun burned skin and so will the non believers in the next few years. Don't be fooled by volatility of the market, guys. This thing is heading into just one direction and that's definitely not backwards.
Thanks for attention,
Posted Using LeoFinance Beta