My anti-moon comment was deleted

Rhiannon Payne
Dec 13, 2018 · 4 min read
BTC headed for the moon?

Last week I replied to what was a rather ridiculous LinkedIn post about the Bitcoin market, with a well-reasoned response against the alleged “moon” coming — which was immediately deleted by the poster.

I’m a huge proponent of the potential of blockchain technology (obviously). I’m also intrigued by blockchain’s ability to revolutionize fundraising through STOs, even for projects that don’t utilize blockchain or token economies.

However, I am not a traditional crypto investor. I pulled my ETH out in June at a break-even point and I sleep better at night because of it.

It seems like the only people still predicting another sky-rocket in the value of BTC are those deeply invested in the market and currently underwater. But to me, the “moon” makes zero sense, for a variety of reasons. And posts like the one I saw last week, whose author deleted my comment, seem deeply misguided and even irresponsible.

We should all know that there are no such things as get-rich-quick schemes. I believe that the extreme growth of BTC last year was a flash in the pan, and that people’s “lambo” attitudes today are detrimental to the community as a whole.

Let’s consider the original purpose and ethos surrounding Bitcoin — a decentralized currency to give control back to the people, with no influence from major institutions, to eventually replace the USD.

For this to happen, it doesn’t matter if BTC sits at $1M or $1. It just has to be STABLE. For it to work, there can’t be the risk of it dropping by 5%, 10%, 20%+ in a week. No one’s going to hang on to it to use in practical situations. The only people with BTC will be those who want to pump and dump it or HODL (lol).

If people aren’t using BTC practically then what, exactly, is the point?

As the market deteriorates, one thing I keep hearing is “The institutional investors are finally coming! Now that we’ve bottomed, it’s time to moon!!” This is apparently something people have heard from “financial analysts” and “asset managers.”

But here we are, at the crux of the problem — BTC has become yet another currency that’s influenced by the rich, more-so than USD. If a “whale” invests a quarter-billion in BTC and the price “moons,” how is that giving control back to the people? At this point, all arguments I’m seeing for the growth in value of BTC literally hinge on market manipulation.

And yes, regulations are coming — but that’s not necessarily going to impact BTC, which the SEC has already determined to be “sufficiently decentralized.”

And when people say that more institutional investors are ready to come in at long last, that’s the exact opposite of what I have heard from such investors, who are now eyeing stable, regulated STOs as the real opportunity.

The idea of tokenizing a security like equity, with real-world drivers behind the tokens like a company’s growth, is amazing. Real estate is another great use case for security tokens, making high-end real estate investments accessible to a larger pool of investors. I’ve also spoken to credible securities lawyers who see a possible future where all stocks and bonds trade on blockchain. This is fascinating and exciting stuff.

I’m not saying now is or isn’t a good time for investors to buy. Heck, I don’t know, it probably is. (*I am not a financial advisor) So if you want to pump and dump and HODL, your call — but that’s not helping BTC and the crypto community, just creating an environment that’s increasingly unsustainable. And if this offends you so much that you want to delete my comment, I think that only adds to the validity of what I’m saying. Sorry to burst your bubble.

That said, let’s keep innovating, finding real use cases, and exploring ways to make cryptocurrencies more accessible to the public, even if it’s not BTC. I truly believe that blockchain and a universal cryptocurrency has the ability to unite us and create a more equitable world. It’s already having a profound impact on emerging and unstable economies. I also see it bringing niche communities of people together. This is the stuff that excites me! Not day trading to make a quick buck.

If you have a different opinion, please share. I’m not a trading expert, just a blockchain agency owner and enthusiast. I am very open to hearing different perspectives and ideas.

Edit: I’ve had this post sitting here in my drafts, waiting to be published, for a few weeks now. Are we closer to the moon yet? I guess the new year will tell.

December 12, 2018

Update:

January 18th, 2018

Sea Foam Media & Tech

We help startups tell their stories & build impactful products. SF-based, operating globally.

Sea Foam Media & Tech

Sea Foam Media & Tech helps startups tell their stories, build their products, and engage investors. SF & London, operating globally. (seafoam.media)

Rhiannon Payne

Written by

Founder of Sea Foam Media & Technology 🌊 Author of The Remote Work Era 📖 (RemoteWorkEra.com)

Sea Foam Media & Tech

Sea Foam Media & Tech helps startups tell their stories, build their products, and engage investors. SF & London, operating globally. (seafoam.media)

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store