Bitcoin is back over $9,000.... I don't care.
- Author: Omar Hannoun
- Date: 19 Jun 2019
For the first time in a while Bitcoin is over $9,000!!!! I am seeing messages pop up everywhere, quiet groups becoming active, articles, press releases, the complete hype/fomo package. Ripple and MoneyGram, Facebook Disrupting the banking system with blockchain, Justin Sun is having dinner with Warren Buffet. I honestly do not care.
Please note that I am and have been a strong supporter/believer of the space for a long time but you know what? Over the last 18 months I witnessed incredible things, the marketing stunts died and all I could see was dedicated teams building solutions, no more discussions of price action, no more investment shills just pure development.
I find it quite fascinating how quickly things turn. Thing is if you believe in the space it doesn't matter what price Bitcoin is at today, everyone makes it sound like it's a surprise that we are over $9,000. If you doubted that crypto was not dead then the problem never was the price it was your lack of understanding of the underlying technology that makes this so great. Of course I am ecstatic that the market is back up, who wouldn't be? But I want to keep seeing development progressing and more use cases coming to life.
I sincerely hope that the price does not make us forget what we are trying to build, Blockchain is still in infancy and even if the price goes to $1,000,000 tomorrow it is still speculation as nothing in the core fundamentals has changed. I want to see a real life use case of a decentralized network happening.
Facebook launching a coin is a no-brainer, they will be the biggest bank in the world should they succeed, think a global wechat, but is that what we want? I think Facebook will do a great job at starting this movement and getting people away from the legacy banking system which is great, in the meantime we should figure out how to move Facebook users onto the decentralized equivalent.
This maybe more of an extended rant than an informative article but just wanted to share my thoughts. Being a recruiter in the space I get to see the other side of these things, what's happening behind the pretty public face. This industry has a long way to go and I hope we do not get distracted with lambos and moons once the price takes off again.
The most fascinating part of this has been the number of startups, in stealth, with no public fund-raise working hard and building real life solutions, makes me think how they manage to build with no funding while others had millions and are currently bankrupt.
It's an exciting time to be alive. We are so privileged to get to witness a financial revolution.
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