Charlene iHeartradio interviews MammyCrypto NFT / Tokens Magazine

It was truly amazing to meet Charlene in Utah. Charlene is a multifaceted lady, mother, entrepreneur aimed at making change where change is needed most. Today we got a chance to remember the Bitcoin Summit that she proudly organized at the Utah Valley University. Very resourceful and educational , the event explored the many facets of crypto currency and expanded the horizons of students and of those who attended it. Join us on a fun chat celebrating art, culture, crypto and cutting edge technology. The event also marked the launch and 1st edition of Tokens Magazine Please make sure to hit the Follow button on Charlene's video below and support her channel and podcast.  Her intro: " Bitcoin & Tech Summit Was Amazing - Michelle Mafra NFT artist. What is the Wide Renascence all about? The Wide Renascence is a collaborative movement uniting artists and creative minds looking to expand the reach of their art, using technology. The pop-up exhibition showcases the physical piece

Explaining Bitcoin Value through its Market Capitalization



Bitcoin price has risen significantly since its creation a decade ago. Despite its recent increase from 0 to $25000 today; very few people can understand where its value derives from. 


Is Bitcoin technology? Is Bitcoin a currency? Is Bitcoin a company? Is Bitcoin an asset? Is Bitcoin a pyramid scheme? Like its worst critics claim it to be... 


Well, the answer is Bitcoin is unique. It is the first in its class. It is truly like nothing we have ever seen before. That is why it is hard to understand. 


To put things into perspective, let's travel to 1885 when Karl Benz developed the first production gasoline-powered automobile, nicknamed then "The Benz". People at the time, probably could not foresee the importance of automobiles for society today. And how much Benz invention reflected changes in the society we live in now. We cannot imagine our life without cars. In my view, Bitcoin is just like that. In my view there will come a day that we will look back and see how much Bitcoin and blockchain have changed our lives and society.


With this article, I hope you can understand where I think Bitcoin value derives from. And the answer is simple. 


The value lays in the Bitcoin network itself. On its built trust. 


Bitcoin is not classified as a currency or as a commodity only ("The Commodity Futures Trading Commission treats Bitcoin as a commodity. The IRS treats cryptocurrencies like Bitcoin as property and taxes it as such" thebalance.com). Bitcoin possesses special attributes and that is what is attractive to users and investors. 


The unique attributes are what is attracting buyers now, but they are not all looking for short term results as many critics believe. Most of them just have a more clear vision of what the future looks like for them. 


Some are long term investors. In fact, Bitcoin crashed in 2017 and 2020 but never got even close to 0 or even below $3000, that shows that there are several holders ("Hodlers"). And today, we have officially hit a new all-time high bringing back returns to everyone who held Bitcoin steadily thru the bear market.


Understanding its value is key, but truly not a necessity. There are several other investments and new technologies on the rise these days and Bitcoin's traits are not of interest to everyone. Nonetheless, it is unique. 


So let's get to the numbers. Today, December 25th, 2020, Bitcoin market capitalization has hit its record high together with its price hitting above $450 billion. Also, the total market capitalization of all cryptocurrencies combined reached above $670 billion.


At $332 billion Bitcoin market cap had already surpassed the market cap of global payment provider Mastercard in late November and after a month Bitcoin market cap has increased another 23%. 


This shows that more money is getting converted into cryptocurrencies like never before.


But are most investors placing their wealth into Bitcoin to solely use it to purchase a cup of coffee, like they use their regular Mastercard or Visa? The answer is yes and no. 


Investors are transitioning into bitcoin. They are transacting with stores that accept it and using Bitcoin and crypto apps to facilitate those transactions and even to receive crypto kickbacks. But some are simply investing in it too. 


Large investors, such as Michael Saylor and Mark Cuban, who have openly claimed they are invested in Bitcoin and other cryptocurrencies are in it to hedge against inflation. If they invested in it is because they see potential, just like Warren buffet sees potential in the tradition of Coca-Cola. 


Now I will elaborate more and compare Bitcoin Market Capitalization to few enterprises everyone is familiar with and highlight a few facts. My main goal is to showcase how dynamic Bitcoin is and how much that adds to its value proposition.


When the internet first came around many companies such as Google (valued 1.17 trillion market cap evaluation) , Apple (valued 2.2 trillion market cap evaluation), Amazon (valued 1.69 trillion market cap evaluation), Microsoft ( valued 1.86 trillion market cap evaluation), Facebook (valued 761 billion market cap evaluation) among other giants saw huge potential with this upcoming technology. They capitalized on this technological advance, built products, analyzed data, expanded connectivity, and the ways we commerce with each other. (Data provided by companiesmarketcap.com)


They became incredibly profitable, global, enterprises. But none of them is decentralized. All of them are centralized, with a CEO to report to and shareholders expecting profits, and so forth. Not always looking out for people's best interest. 


Every enterprise, every company we were ever exposed in the world, before the existence of Bitcoin was centralized. (Only a few examples such as wikipedia.com showed some aspects of decentralization). Our governments, our schools, our churches, our businesses. There is always an office, a boss, a chief, a mayor, or some sort of authority position that is in charge. 


That is how we have been conditioned to function in our society for quite a few centuries, but because decentralization was not truly an option in existence. Without blockchain, there was no possible way to implement such an ideology in a meaningful and systematic way. But Satoshi Nakamoto, the creator of Bitcoin, brought a simple fix to light. With the introduction of his revolutionary code called Bitcoin, there was now a completely new way to run things, a simple change that enables a whole new way of thinking.


So when we think about these large corporations that I mentioned above. Can you imagine Bitcoin as one of those, BUT build as a completely decentralized network of people working with a borderless and transparent system? Where there is no boss, no headquarters, nor someone to report to, nor an obligation to be a part of. One that only gets stronger and more trustworthy as we grow.


With Bitcoin I see a similar wave of innovation that extends the power of connectivity already provided by the internet. But with a decentralized quality that only Bitcoin posses. Owning a small share of it is like owning a small slice of the future.


There will only be $21 million Bitcoin and to me the shortage is real. What looks crazy today may sound pretty reasonable in the future. I remember watching Back to the Future in the 80s and thinking how futuristic is it to be able to communicate using a camera or video. And that is a technology that became very mainstream today. 


What is driving the market price of Bitcoin is not pure speculation as some claim. Many are in this because they see potential in it. But most importantly they see value in its network.


If you want you to join in and grab your little or big share of the 21million piece pie and join the perks of being part of a truly decentralized network I do recommend learning the ins and outs of it before diving fully in. With decentralization comes big responsibility and extra care for the security of your digital assets.


Getting into Bitcoin is quite nerve recking, especially at this high price point. However, despite a few losses that may occur along the way, diving into it can be an eye-opening experience for many, especially if you arrive in this realm without any preconceived ideas or misconceptions. Good guidance, research, and patience will go a long way. Start slow and never invest what you are not willing to lose. That is the best advice that I heard so far.


Quick note: English is my second language. I try but my write ups will never be perfect, okay. Hope you do not mind.


All my best

Michelle M

www.mammycrypto.com

Social Media links: https://cointr.ee/mammycrypto










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Disclaimer

My opinions are simply my opinions and not investment advice. I strongly recommend everyone investing or looking to earn or acquire cryptocurrencies to do their own research and get very educated about risks and security before acquiring, earning or investing. The content in this blog/ website is not investment advice. Please note that this web site also features sponsored content and referral affiliate links. Which means that when you click on some links and sign up for a product or service I may receive I small commission or credit for the referral. Most the the links also will give you an invite incentive that most often you would not receive if you do not use a referral invite link.

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