The Bitcoin Revolution Read online

will see $100,000/BTC

  If market cap increases to $13 Trillion USD

  we will see $1,000,000/BTC

  Changes in Wealth from 2012-13 Total global household wealth increased in current dollar terms to USD 241 trillion, or USD 51,600 per adult in the world, an all-time high for average net worth. In other words, if Bitcoin becomes a widely used tool and can attain a 5.4% (1/20th) adoption rate globally, we will see $1,000,000/BTC with 13 million BTC in circulation.

  Weren’t the Winklevoss Twins crowing about how they owned 1% of the coins? And didn’t they predict the plateau wouldn’t come until coins reached $40,000? The Twins first heard about Bitcoins while vacationing in Ibiza, the original hippie beach and party melting pot for Europe, Africa and the Middle East, as well as North and South America.

  These dudes were in on the internet from the early days, so you know they must be among the best and brightest. They also are Olympic-class rowers from Harvard. (By coincidence, a friend of mine from high school days in Illinois got a scholarship to row at Harvard. But that was in 1968.) I know the Facebook movie made them look like silly jerks, but I have to believe these twins are no intellectual slouches. And the fact they invested heavily in Bitcoin proves that.

  Unfortunately, their big Bitcoin start-up, Bitinstant, didn’t work out as planned. In fact, it seemed to have shut down and been completely overshadowed by the rise of  Coinbase and Blockchain. Meanwhile, the Twins opened the Gemini exchange in New York City.

  Bitcoin is a meritocracy, and rewards the intellectually advanced. These individuals exist in all strata of society, but when they come from aristocratic, well-funded families, you can bet you might be looking at some future Bitcoin trillionaires.

  I’d like to see the math on how high Bitcoin needs to go before the Twins surpass their arch rival over at Facebook. Who says there are no second acts in America?

  Strange as it may seem, it is still very early in the Bitcoin Revolution and most people in America still haven’t heard the word, much less thought about buying in.

  But if you did find your way here, and went out and bought a bitcoin, I hail your joining our meritocracy.

  I’m a writer, journalist, filmmaker, event producer and counterculture and cannabis activist, and was born and raised in Urbana, Illinois. I started out writing black comedy, but I'm best known as the first reporter to document hip hop and the instigator of the film Beat Street. I also founded the Cannabis Cup, organized the first 420 ceremonies outside of Marin County, while launching the hemp movement with Jack Herer and writing some landmark conspiracy articles. Some of my other books you might enjoy:

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