Is Bitcoin in a Bubble? Yes, and I’m Loving It! (originally published 3.18.2018)
Have you heard the news — Bitcoin is in a Bubble!
This is the panic shot being fired around the world from many people.
Bitcoin, Blockchain, it’s all just a bubble.
Well, I agree, and I’m loving it.
Do I think Bitcoin is bad? Going to collapse? Or think Blockchain has no value?
Quite the opposite. I think at all has amazing potential.
To be clear, I am NOT talking about a financial bubble nor some impending financial doom.
No, I’m referring to an intellectual and enthusiasm bubble.
Looking at this differently, have you also ever heard of the ‘Filter Bubble”?
This is where the more news and information you consumer (Facebook Google, etc.) the more of that type of news is filtered and sent your way.
If you like Liberal politics, you search and click. The more you click, the more the algorithms of the Internet feed you information that you appear to be interested in.
What does that have to do with Bitcoin, and more broadly Blockchain?
Well, I’m living in a Blockchain Filter bubble right now and love it.
I currently have the privilege of being in Puerto Rico for a week-long series of events all around Blockchain.
I truly believe many years from now, stories will be written around this week as being the genesis block, of where things really began.
Starting back with such pioneers as Brock Pierce, who has both lead the way, and taken some arrows in the back as well; to Michael Terpin with Transform Group, who was really the pioneer with groups such as Bitcoin Angels, and his now running CoinAgenda Conference for the 5th year in a row. He has been professing the benefits of Puerto Rico, there is an amazing group of people here.
Mike Costache brought his D10e Global ICO conference here, which is a brand he has built into the largest ICO competition in the world- with actual money involved to the winners (We’re fortunate to have been a multiple winner with MonetaPro.IO).
Brad Bulent Yasar, who is with D10e, but also KrowdMentor and helping lead the way on Blockchain conference.
Blockchain Industries event was a new entrant into the fray, but produced an amazing event as well, replete with security to protect from cyber espionage.
This was important as the amount of wealth accumulated on the Island was probably in the Billions.
Is money important? Well, not nearly as important as what you do with it. Especially if it’s put to good.
What is most intriguing about the Blockchain Bubble (which is what I’m going to call it now), is that when you are in the bubble, there is a great feeling of excitement. But, there is also a great feeling of social responsibility.
This is a change the world kind of crowd!
Before, many of the change the world types were limited by Vision Capital — meaning the money to pursue their dreams.
With blockchain, those “chains have been broken”!
The opportunity to raise capital to truly make a difference is a staggering opportunity. And this, for the most part, is a community of Doers. Some, yes are dreamers, but many are people who have built business and companies before.
The amount of brain power in the rooms, coupled with enthusiasm, and fueled by the actual capital and ability to execute, is an exciting time.
Indeed, if you are inside the Blockchain Bubble, you get ideas, stimulus, and knowledge coming at you from all sides.
Much like the filter bubble, this one is about possibilities and expansions, not limitations.
When global speakers and visionaries such as Alex Lightman talk about historical aspects of the future, and where philanthropy dollars are going and should go, and then challenges people to build solutions that make a difference, you can feel the movements starting.
When you watch Crystal Rose, a current superstar, and future thought leader, you are inspired by people who grew up with limitations (she jokes she was an underprivileged white girl), but what she really explained is growing up as a girl, she had little power. But, by being anonymous with a computer, she was as powerful as anyone else- Man or Woman.
The Blockchain technology becomes the great equalizer, but the blockchain community is the great supporter.
This is a group that wants to lift up, support, encourage, and inspires each other.
There is the unique opportunity to truly impact the world in meaningful ways.
Do I think Blockchain can fix everything? No. I think a lot of the technology is about efficiencies and improvements.
However, there will also be quantum shifts and disruptions, some of which we can envision, some of which we can’t imagine.
You have crypto kids like Kai Nygard (I only call him that because he is much younger than I am), and he’s looking to change the world in Health Care. How you might ask? How could a Twenty-something with an unproven technology change the healthcare world?
By partnering with a high-end cruise ship and placing world-class medical facilities on the ship. What is the purpose? To allow experimental and groundbreaking medical procedures to be performed in international waters.
Or, Mark Jeffrey with Guardian circle who is try rying to fix the 911 system. Imagine when something happens, and you have a trusted circle of friends who can show up, help you, or organize the help.
You even have companies like Swytch.IO, which just won the D10e Puerto Rico contest, and is truly creating a shift in the world of energy. They have recruited Peter Hirshberg, who is a legend from the Apple and Microsoft days.
Speaking of legends and luminaries, you have Richard D. Titus who came from the Razorfish and BBC world of global media. Flip Filipowski who created a Billion-dollar company and Eric
Greenberg, CEO, and Founder of Scient- one of the largest web services companies of all time.
There are VC’s around like Tim Chang, and Tim Draper, and Miko Matsumura (who left the “dark side of Venture Capital to the dark side of Crypto) who is now with Evercoin.
You have a confluence of Entertainment Executives like Seth Shapiro (who has been with Direct TV and the Emmy’s) and has partnered up with Halsey Minor (Founder of CNET). They have launched Videocon, which could displace both Amazon and YouTube.
Notice I used the word displace? That to me is a better adjective than “disrupt”.
So yes, I believe many of the companies here can both disrupt industries and companies, but many will simply displace the existing companies with a better, faster, more efficient and potentially transparent model.
Disruption can occur though in projects like Impact PPA, headed by Dan Bates, which can truly disrupt tradition energy by placing low-cost solar stations throughout areas of the world. Projects like this disrupt not only the governmental energy cartels but also the geographic limitations of where traditional energy could or could not be deployed.
Areas of the planet, heretofore to poor, unwanted, or inaccessible, had little opportunity to grow and thrive without access to simple conveniences, and can now be established on a solar station within hours.
This doesn’t even take into account the environmental impact- both in terms of reduced impact due to constructions, wires, towers, trucks etc. to deploy traditional utilities and the carbon reductions which could be contributing to weather changes.
Such weather changes are driving down the Sahara Dessert further and further into
This disruption is not limited to companies and industries.
There is even a new Country- Lieberland- which has been created with the idea of a decentralized, transparent Government. The current President, Vít Jedlička, gave an inspiring speech last night, to a group of individuals.
This dinner was sponsored by Oleg Poskotin Poskon, a Russian who runs Cryptonomos, out of Beverly Hills no less!
The global flavor of this confluence of events is again, beyond.
I’ve been fortunate to travel the world with global food Savants like John Sutton (who’s done work with the Vatican, the United Nations, and currently travels around the globe to find the most unique food products).
We’ve been to gilded events such as Davos and the World Economic Forum, which while it may have superseded in wealth and privilege, paled in comparison to collaboration.
I’ve been to Milken Global Institute, Clinton Global Initiative, Rockefeller events, and even rung the bell at Nasdaq.
However, none of those had the feeling of a truly seminal moment for the future of mankind.
Never in history has there been the access that the internet provides, with the benevolence and enthusiasm of a purpose aligned group, and the direct access to capital the blockchain provides. This creates the ability to pursue truly unique, displacing and disruptive opportunities.
This Blockchain week in Puerto Rico is almost over. Memories are being formed. Companies are being made. Perhaps legends will be born.