Crypto: The Unreal REALITY
“Some men see things as they are and say ’why?’ I dream things that never were and say ‘why not?’” –Senator Edward M. Kennedy
Satoshi Nakamoto’s vision for Bitcoin was a sound money advocate’s dream turned into reality.
If it wasn’t for Bitcoin’s success, I would have never brought HIVE Blockchain Technologies to your attention. I profiled HIVE at $0.74 and it went on to trade for a high of $6.75, a return of 812%. Trading with tremendous amounts of excitement out of the gates, the price of the stock has currently settled at $3.24.
In my opinion, this is the time to back the truck up and gobble up this dip, because the next wave of frenzy could just be getting started.
Satoshi’s dream for new money was as outlandish as Walt Disney’s dream to construct a magical kingdom that would be greater and more enjoyable for families and children to enjoy than fairs and carnivals.
For many decades now, Disney has shaped the childhood of nearly every person in the world because one man dared to dream, and he built a world dominator of a company that is still thriving with passion today.
We are going on 9 years of Bitcoin being introduced to the world, and each and every day is evidence of how this new form of money is changing the world.
Some have even described it as the pin that will pop the bubble of the fiat monetary system. It’s the embodiment of individual sovereignty for every global citizen being able to bank out of the palm of their hand.
Bitcoin has hit a price of $19,000 this last week. Price discovery is a function of buyers and sellers, and in the world of Bitcoin, the skyrocketing price is speaking louder than words can express.
In a matter of years, cryptocurrencies have gone mainstream and have become a viable channel for billions of dollars to enter.
Looking at CoinMarketCap and the total market cap of just the tokens is only telling half of the story because blockchain technology is entering the equity markets, and we know Bitcoin will be traded on the CME as a commodity, bringing trillions of dollars into blockchain tech that isn’t being represented in this chart below.
There are many naysayers who are still saying Bitcoin is a fraud and that it will eventually go the way of the tulip and Beanie Baby, but I beg them to think differently.
If anything, refusing to wrap their minds around the idea of Bitcoin has blinded them from anticipating the wave of new buyers flooding into the space, far outpacing any sort of selling and sending the Bitcoin price through the roof.
Take a look at how the world is evolving.
Bitcoin hitting $19,000 is a sort of “proof of concept” that this is as big as we all thought it could be and more, just like when the first transaction was made, trading 10,000 bitcoins for two pizzas. It went from an idea to viable technology, and here we are, with cryptocurrencies turning into an asset class.
This is why I profiled HIVE Blockchain Technologies when I did. Mining is an essential part of blockchain tech, and the bigger the blockchain gets, the more economic incentive there will be to mine the cryptocurrency and support the network.
Just to put this into perspective, Bitcoin is now consuming more power than 159 countries. We are talking about slightly more than the country of Morocco, and slightly less than Bulgaria. It’s not exactly easy for the average person to mine and make big money at home on their ordinary computers.
It’s mining farms and supercomputers that are doing this job, and this is where the real money is being made.
HIVE’s facilities are strategically located in cooler environments where energy is cheap, and they’re partnered with the largest mining company in the world.
The fact is that if any person or entity is going to be positioned to profit from cryptocurrency mining, it’s going to be a company like HIVE, with its strategic competitive advantage.
$19,000 Bitcoin is a proof of concept that cryptocurrencies are here to stay and the infrastructure of the network is being built out.
Doug Casey has put a possible $10 price target on HIVE. Considering our run started at $0.74, anything remotely close to that will be absolutely phenomenal, and in the world of crypto, nothing will surprise me.
In hindsight, I undershot my prediction that we would see cryptocurrencies become an asset class in 2018 – the fact is we’re already there.
Chief Editor, CrushTheStreet.com