Three big stories in the bitcoin space I'd like to share with you today:
- Bitcoin, crypto, and blockchain have become a 2020 U.S. presidential issue.
- Daryl Morey, the general manager of the Houston Rockets basketball team, buys more bitcoin.
- Binance enters the lending game; holders of Binance Coin, Ethereum Classic and Tether will be able to lend assets and earn interest.
Bitcoin, crypto, and blockchain have become a 2020 U.S. presidential issue. Democratic presidential hopeful Andrew Yang endorsed blockchain (the technology that bitcoin sits on) and wants to implement a blockchain based mobile voting system.
"It’s ridiculous that in 2020 we are still standing in line for hours to vote in antiquated voting booths,"
"It is 100% technically possible to have fraud-proof voting on our mobile phones today using the blockchain. This would revolutionize true democracy and increase participation to include all Americans—those without smartphones could use the legacy system and lines would be very short."I couldn't agree more. This isn't surprising coming from Yang -- he's the only presidential hopeful talking about the real challenges facing the economy today, like automation. My personal dream-team is Yang/Tulsi, but I'll save that for another post.
I became even more interested in Yang after president Trump tweeted that he thought bitcoin and other crypto were "unregulated crypto assets" that can "facilitate unlawful behavior, including drug trade and other illegal activity." The truth is, most drug trades prefer the U.S. dollar.
I doubled down and donated to Yang after U.S. Treasury secretary Steven Mnuchin labelled bitcoin as a national security issue. I started making phone calls for Yang in May, when congressman Brad Sherman made a plea to abolish Bitcoin because he views it as a direct threat to the U.S. dollar. He wants to make the purchase of bitcoin illegal.
Thankfully, we have folks like Yang and Ron Paul coming out in favor of bitcoin because if the US bans bitcoin, it will mean that our fate is tied to the American dollar. You can read more about my prediction for the U.S. if it bans bitcoin in the post: An Argument Against The Ban of Bitcoin: Bitcoin Represents a Threat to The Permanent State, Not America. Namely, it will tie our demise to the U.S. dollar.
In other bitcoin news, Daryl Morey, the general manager of the Houston Rockets basketball team, recently tweeted “I just bought more” in response to a pro-Bitcoin tweet. Morey is not alone. I've seen dozens of tweets like this. There's a long list of celebrities, athletes and musicians that are pro-Bitcoin. Billionaire tech investor Mark Cuban hinted at adding crypto payments last year. Why? Not only does bitcoin represent a safe haven from the coming financial crisis, but it comes with additional technological features that fiat does not, AND, as Obama said, it's like carrying a Swiss bank account in your wallet.
Last but not least in bitcoin news is one of my favorite places to buy crypto: Binance. In terms of new offerings for coins (ICOs), Binance is THE BEST. So imagine my surprise when I heard Binance was getting into the lending game. I'm going to write another post explaining why this is such a powerful move on Binance's part, but the most important takeaway here is that holders of Binance Coin, Ethereum Classic and Tether will be able to lend assets and earn interest through a new service called Binance Lending. Interest is paid out after the loan matures. So, at a time when the world's central banks are pushing negative interest rates, one of the strongest players in the crypto community wants to pay you interest. The irony.
The Revolution Is Digital....