Have you been a good boy or girl this year? If not then you can expect to own a big steaming pile of ‘****coins’.
But if you’ve been good then Santa Crypto might bring you the best gift of all, crypto profits!
This Christmas the crypto world is the gift that keeps on giving. I’m hearing of people printing out paper wallets with bitcoin to give to friends and family. Not whole bitcoin — unless you’re already a crypto millionaire — but fractions of.
We’re also hearing of people who have paid for presents with crypto. Actually we know that’s true, because we went to the supermarket last night and bought a few bottles of wine with crypto.
The funny thing is that at the moment you can have some crypto in your portfolio and buy some stuff with it. Then all of a sudden within the space of hours you can make up the amount you spent in price appreciation.
It’s quite simply astounding.
And on the fifth fork there was God
To make things even better, if you’re holding bitcoin it’s going to be a great Christmas and New Year.
This year we’ve already seen bitcoin fork into bitcoin cash, then bitcoin gold, then bitcoin diamond, and then super bitcoin just a week ago. Now on Christmas we’ll have a new ‘bitcoin’ to celebrate.
This one is ‘Bitcoin God’.
True story. Bitcoin god is scheduled (roughly) to fork on the 25 December. Bitcoin god’s creator, Chandler Guo, is an influential crypto investor. And he’s got a lot of hands in many pies in the crypto world.
According to a message from Guo this fork is,
‘…to be symbolic of me giving candy to all Bitcoin Holders. The total amount will be 21 million. No pre-mine. Everyone can claim their GOD from major exchanges all over the world. The profit from POS mining will be distributed to all Bitcoin God users.’
Is this a joke? No it’s not. It’s the real deal. Guo is the real deal.
Really, this is a bit of a joke in our view. But with the way crypto markets have been going, we wouldn’t be surprised to see this silly thing launch with a market cap of more than $1 billion.
That’s flat out bonkers. Even in our book that’s bonkers.
But again, this is the world of crypto. The gift that keeps on giving. Of course if you do happen to be holding Bitcoin at the fork you will get bitcoin god. You can claim it…and then what?
Well it’s like the situation with bitcoin cash, gold, diamond, and super bitcoin. Do you sell it, hold it, or trade it? Well, you can do what you like with it.
But our view is usually that you should just see what happens.
That might sound like we’re sitting on the fence with these forks of bitcoin. But there is method to our madness.
You see, this is all one big experiment. Bitcoin cash, gold…all the iterations of bitcoin are attempts to build out a new kind of financial system. It’s a decentralised, distributed network of users, all in it for their own individual reasons.
It’s really a libertarian, free market approach to the construction of a new, alternative financial system. And we’re not sure how it’s going to play out. Right now bitcoin is winning the experiment because it was the first. And while some claim bitcoin cash is more true to ‘Satoshi’s vision’ the truth is Bitcoin Cash is a fork from bitcoin.
And maybe bitcoin is more a ‘store of value’ and bitcoin cash more like a medium of exchange. Who knows? If lightning networks come to bitcoin in the next year or so, as anticipated, then the whole scaling debate may simply fly out the window. Then all these other ‘bitcoins’ are stuffed. Or maybe they’re not, and they will all retain some ‘value’ and purchasing power.
Right now it’s simply too early to tell. Or if this was a political race, the news would be saying ‘it’s too close to call’.
That’s because there is no clear winner. There’s no clear answer as to what the masses need and want. Yes, we need new payments systems that gets rid of middlemen. We need to eliminate friction and expense in the current system. We need to make sure the game isn’t rigged. We need to make sure that centralised power doesn’t manipulate the end result.
And we will do this through cryptocurrencies, crypto assets and the broader crypto world.
But it will take time. Rome wasn’t built in seven months of 2017. It takes longer. Years. Bitcoin has only been around for almost nine years. It’s like a single celled organism in the evolution of man chart.
We’re at the beginning. Day one. The genesis block was basically yesterday, in the big scheme of things. As such, you should take a lot of these forks and goings on with a pinch of salt.
Don’t get overly serious about it all. Have a bit of a laugh at the fact there’s a super bitcoin and bitcoin god. Really it’s funny.
When we’re all dead bitcoin won’t be
Of course I’m not saying you should treat investing with such flippancy. We are after all talking about wealth. But really, these forks are free wealth. You didn’t ask for or expect it. You don’t know if they’ll be worth anything. You didn’t know — we didn’t know — if Bitcoin Cash would be worth anything.
We have to wait it out and see.
You’re not a trading god because you got bitcoin cash from the first fork. You’re not a crypto expert because the fiat-converted price of bitcoin cash or bitcoin gold is up 40-odd percent in the last day or two.
You’re lucky. And you got into the crypto megatrend at the right time. That’s the only bit of ‘skill’ in all this.
Look, I’m just saying take a foot off the seriousness of it all. Have some perspective. Don’t get sucked into the mainstream hype and mania. Crypto has actually been around a while; it didn’t just appear in 2017. It’s also going to be around a lot longer…forever. It will outlive you, me and everyone that’s alive on the earth today.
Think about that for perspective. Crypto will last longer than every single person that’s alive on earth today.
That’s world changing. And you get to be a part of it at the start.
That truly is the gift that keeps on giving.
Editor, Secret Crypto Network