The short, and simple answer, is YES. Bitcoin, with its slow transactions and current drop, is still a juggernaut in the Crypto space. Anyone well-versed in Crypto knows it isn’t good tech, but it is the most recognizable and established digital currency. It has more credibility than even the most promising new tokens, thanks to its decade-long tenure as the face of cryptocurrency.
Many Crypto enthusiasts neglect to see that anyone new to Crypto will have Bitcoin on their radar - not any of the obscure alt coins. Kurt uses a musical metaphor to explain: “Why do people still like the Rolling Stones? There are so many bands out there that are way cooler, but it’s how the mainstream and larger institutions come onto the markets”. Newbies aren’t seeing the latest and greatest in Crypto, but Bitcoin (regardless of its inferiority to some of the newest tech) is still at the forefront.
Will large corporations tokenization threaten Bitcoin’s reign?Amid rumors that Amazon might come out with their own coin in the future, Kurt thinks an Amazon coin would actually drive up the price of Bitcoin. Amazon would be unlikely to allow users to buy directly on their site - meaning they would have to go through Bitcoin’s on-ramp. If you want to get onto an exchange to buy Amazon Coin, most likely you’d have to jump into Bitcoin and throw your Bitcoin onto that exchange. Which means great things for the price of Bitcoin - Regardless of which new tokens come on the market, Bitcoin remains a trading pair.
Why does the price of Bitcoin appear to just keep going down recently?Kurt theorized that the ICO market in general (not only Bitcoin) was experiencing a similar trend to a Start-up Curve. At the beginning, interest skyrockets and shortly after - it fizzles. Afterwards, it slowly goes through a few more phases before the curve slopes steadily upward. What’s happening right now appears to just be a correction, which won’t have much bearing on the overall trajectory of these markets over five to ten years. Anyone in the HODL gang won’t be fazed by these drops - they’re in it for the long run.
Bitcoin's transaction per second (TPS) issues explained:All tokens are like ships in the ocean. The small ship is tossing around a lot, while Bitcoin is more like a yacht. It’s just cruising. It’s stable, but it doesn’t move quickly. If you want to change the course of the yacht, moving a massive structure will take a bit more time. As more companies onboard onto it, anybody can come along and create proposals for how to solve the issue. Some solutions have already been implemented and they have made slight progress on the issue. So Kurt has faith that, little by little, the TPS problems will be resolved.
What about Bitcoin forks?Bitcoin cash is the most significant fork. It was originally meant to be a true fork that would honor Satoshi’s vision of digital currency. But It hasn’t been the dream that everyone imagined - it’s just digital gold.
01:23: Is Bitcoin still a good investment?
03:11: Mainstream appeal
05:10: What will happen when large corporation to tokenize
06:52: Bitcoin’s current drop
08:26: Transaction issues
10:15: Bitcoin forks
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IRA’s and cryptocurrencies, two completely different markets, with one being vastly older and significantly less volatile than the other. According to today’s guest, Morgan Steckler, CEO of iTrustCapital, a cryptocurrency retirement company, there’s a lot of untapped interest towards cryptocurrencies coming from the IRA space.