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This has been on my mind lately with all the talk of mooning and dumping of the past hours.
I'd like to take a look with you all at the reason for the success of Trumpcoin, the reason of these swings and the future we can predict from all this. I think it will stimulate us to adapt our strategies and I'd certainly enjoy getting the views of my fellows and peers.
First, what makes a currency have value?
My understanding is that the value is dictated by what it can offer you in a later date. This can be in the form of services, goods, relations and so on but the core idea is the same. Currency is an investment unit of time, locked up into a carrier to be traded in for something you want, need or desire. This abstraction is then shaped by market forces, into a price or a cost.
The idea of a cryptocurrency is that the classic locked up units of currency are taken out of the hands of banks and institutions, and onto a blockchain. The core values and meanings however, stay equal.
Now, why is Bitcoin the biggest of all cryptocurrencies and the gold standard? Why does it have all this value?
First and foremost (and this is important in relation to Trumpcoin), Bitcoin is the firstborn. Before Bitcoin, this whole crypto thing was NEVER done successfully. This alone gives Bitcoin a massive edge and a huge amount of traction compared to ANY alternative.
Second of all, it got BIG players interested in an unprecedented number. When your coin is big enough that governments write LAWS and regulations about it, you're not going anywhere anytime soon. Bitcoin has both VOLUME and WHALES.
Thirdly, it's simple to get and simple to spend, atleast for crypto standards. Stores accept it, it's traded on forex brokerages and margin trade houses and it is very easy to convert to fiat currency when only fiat is accepted.
Now, looking at these three keys - what can we say about Trumpcoin? Remember the first point? Being the first of its kind. When's the last time you saw a cryptocurrency used not only as a market vehicle but also as a FUNDRAISER? What's that? Never? EXACTLY!
In the age of kickstarters, patreons and gofundme's we, the Trumpcoin holders are the first of our kind to support a political candidate in this fashion. You may be skeptical, I'd say that's a GOOD thing to be in finances, but you CANNOT deny that this is yuuuuuuge.
We're right at the forefrunt of a potential revolution in fundraising, that completely trims away ALL the fat involved with kickstarters, paypal backings and fiat donations. If this pans out as we want it to, Trumpcoin will be ‘the Bitcoin’ of fundraisers. The trendsetter that started it all.
Now let’s look at the second point; who are the big players here? This one’s obvious. They’re Mr Trump and those who support his ideals! Big organisations, big names, big, bigger and bigly as is the motto of the Donald himself. Who is the volume that might get involved along with these ‘whales’? Who brings the coin to the attention of the big players? Who will innovate and create? It’s us! But who are we? We’re the people. The enthusiasts, the developers, the working men, the yuppies of finance, the geeks, the trollbox denizens that have a soft spot for this coin no matter how hard they shout and the unemployed looking to make a small change with what little money they have.
We’re everyone and nobody. A big anonymous crowd, driven by a singular purpose and a singular currency. And that’s not all. As this campaign, this resurgence and this support has shown, we are not just a ‘crowd’. We’re closer to a society. A very nimble and very agile society, under a singular banner. Our network is the best. We can make transactions pop out in minutes, rather than hours. We can support our cause from anywhere in the world so long as we have an internet connection and a voice. We can make money great again. Our ‘value’ is well above and beyond the 1million USD ticker our coin has shown. This is the kind of value than can build empires and undo nations. This is true power.
Let’s look at the third key point. Simplicity. Acceptance. I’d argue that this is our BIGGEST hurdle to overcome. It’s HARD to obtain a Trumpcoin and even harder still to trade with one. Compare it to a Bitcoin ATM or an app that integrates with your debit and credit card? It takes a whole lot of hurdles to get to the good stuff.
The good news? This is the kind of stuff that comes almost automatically once you hit a certain threshold of traction. People will be ASKING us to let them create direct solutions to our issues. They will advertise FOR us because they SEE the value in the things we offer. And the acceptance will follow.
We’re standing at the edge of glory here. This is uncharted waters. Anyone who dares tell you what will happen next is basing it on common sense, past experiences or gut feelings. Truth be told, none of those may be applicable here. This is the realm of creativity and imagination. This is where gods and men collide to form something greater than life, or die trying.
I’m glad to be a part of this with all of you. And I hope our journey to make money great again, to make crypto great again and to make MISTER TRUMP and by extension America great again will be as fruitful as it has been the past weeks.
Thank you, and godspeed.
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Great!
