Bitcoin price action is back with some big moves over the last month. Bitcoin is nudging 8k today up 5%. The debate on the halving being priced in already is well and truly underway. I do not currently hold any BTC and have not done for a while but I plan on that changing this year. I know better than most how the price fluctuation takes an emotional toll and it has been a reprieve in many ways not to concern myself with the price. That being said I start my trading shows again this week and I am excited to hear my Crypto technical analyst friends have to say, subscribe here for that.Viewing numbers are always 5x over non price related content. You the audience have spoken.
I am very much fundamental analyst and as we enter a new decade I though I would comment on what is not a trend, but certainly something I am noticing, and that is people who influenced me turning their backs on Bitcoin.
Being a Bitcoiner is tough work
Bitcoin price is a cruel mistress. I know many people who got FOMO and want nothing to do with Bitcoin again after buying the top and selling the bottom. For me Bitcoin has often raised the question of why the hell am making so much content about Bitcoin but have not monitised the media. I wrote extensively on this topic in this article
In short I am a firm believer in Bitcoin and Blockchain technology and the best way to learn about something is to try and teach others. Having a skill set in Blockchain for me is of great importance.
I am very surprised that nobody seems to care that youtubers flogged them a load of shit, with many now recreating themselves as Bitcoiners. I am ok with that. In many ways I am doing it the other way around and am branching out to cover what is happening in Blockchain not just Bitcoin this year. I am still very much a Bitcoiner, be under no illusions on that front. I just have a fascination with who is really going to nail Blockchain in addition to Bitcoin. I am an advisor to traditional finance companies and a very exciting project called Blockchain Valley. The people I have met are hardcore Bitcoiners and I’m sure Bitcoin will be central in their plans for the business and residential development they are building.
While this Hardforking media venture has been a labour of love not a revenue making exercise, building the knowledge I have of Bitcoin and Blockchain is serving it purpose. I will continue to educate and help grow Bitcoin adoption but enough about me this article is about the hardcore Bitcoiners that are not anymore, the ones who have lost the love.
Who has lost the love of Bitcoin
John McAfee the man who told the world he would “eat his dick” if Bitcoin did not hit one million dollars in 2020 now appears to be not only keeping his penis but also cock blockchaining Bitcoin. On twitter yesterday he announced to his one million followers that Bitcoin is an ancient technology. I asked him what blockchain he liked best and Monero was the answer. We touched on the topic in our recent video with him also. Of course the whole dick eating statement was just some fun and as he says ” was designed to bring new people into the space”. In developed nations the way that happens is clearly to tell people Bitcoin will increase in price and I think McAfee on-boarded many people to Bitcoin. I do find it a bit odd that Mc Afee and others seem to be turning their backs on Bitcoin now, often with Monero being stated as the new favorite. Monero was up 10% at one point yesterday, was this McAfee’s clout on Crypto Twitter?
Is Richard Heart being a dick? I first came across Richard Heart in 2017. I really liked his content. The price of Bitcoin was his specialty and he was pretty good at prediction Bitcoin price action. He was a Bitcoin Maximalist with a sharp wit and the ability to out debate all who tried. His recent content whilst amusing, has often been bizarre. He tells us how he gets on stage at conferences to trumpet how great Bitcoin is, then spends an hour in the rest of the video attacking Bitcoin. If you do not know who Richard Heart is check him out on youtube. He has launched a coin called Hex. So far over 1 Billion dollars worth of Bitcoin has been used to claim free Hex which is then staked. He is calling Hex the first of its kind in Crypto savings schemes. He compares it to the second most popular traditional banking product, a savings account that pays interest. You can also buy Hex with Ethereum. I know people who have done this. Will I be doing this? NO WAY. Heart has Trevon James of Bitconnect fame plugging his coin and he is proud of this fact. Heart is really laughing at the whole crypto community in my opinion. He understands human weakness or fomo and he is playing to this. For this reason the coin could in fact work but I highly doubt it. His rational, that he publicly states, is to look at how many shit coins pumped and therefor something better organised and marketed like his coin, will do very well. We have a video on Hex in the making with myself and one of the Hardforking crew who actually spent his money to buy Hex. Make sure you subscribe to our youtube channel to see that debate. My colleague is passionate about Hex so it will be a very interesting debate/argument.
Jeff Berwick, the Dollar Vigilante is another that I followed from 2017. His content was also very entertaining. Jeff and his team recently flipped on Bitcoin and endorsed Monero. The rational is that Monero is actually what people thought they were getting with Bitcoin. Here is a link to that video which I do recommend watching.
These three would be the most high profile people to appear to have lost the love but there are also many who moved to Bitcoin Cash and Bitcoin SV. Daniel Krawisz is a notable mover. The man who first used the phrase Bitcoin Maximalist is now a hardcore Bitcoin SV champion. I always like his content and he had a bit to do with me being interested to learn about BSV. Check out this video.
Have I lost the love of Bitcoin?
No I have not. I don’t think anyone who has been a hardcore Bitcoiner ever does, including Richard Heart and Mc Afee. Both Heart and McAfee have projects that utilize Ethereum and I think much of the rhetoric from people who leave Bitcoin often centers around new business interests. Bitcoin has solid use cases and its unconfiscatable nature is appealing to me. Is it an ancient technology? Let us see what the Bitcoin core team pull off with layer two technologies this year and what the Bitcoin SV team achieve especially with the next hardfork in February. I have not lost the love of Bitcoin but a number of Bitcoiners have lost the love of me. My media has only ever been about educating people on Bitcoin and as such I looked closely at what the BSV team have been doing much to the disgust of my BTC friends. I will continue to do that in 2020 and launch a series this month designed for people with no knowledge of Bitcoin and Blockchains. I have a very good knowledge of Bitcoin now and the series is all about real world use of Bitcoin and Blockchain tech. We have put a lot of effort into producing the series with the aim of growing the space with some fresh new content that is not to technical and shows some of the amazing people, places and projects that make up the industry we love so much. Please help support us by subscribing to the youtube channel where you will see the series premier this month.