Why I bought Bitcoin (BTC) and Digibyte (DGB) and think cryptocurrency (and other forms of crypto, like digital ledgers) are the future for photographers and this brave new digital economy:
1. Skin in the game
When I first bought Bitcoin (BTC) I bought it around $7,000 in 2017 and haven’t looked at the prices since.
Why did I buy Bitcoin? Pure greed and gambling. It is simple:
If I buy it and it goes to a quadrillion dollars, this would be awesome.
I essentially took the notion from Nassim Taleb in his Antifragile book:
Better to put 10% of your savings and funds into a highly highly risky thing than to put 100% of your funds into a ‘moderate risk’ category.
2. How to learn it.
It seems the Crypto Startup School on Andreesen-Horowitz is good.
I know for myself I read the Bitcoin White Paper (PDF) and found Satoshi’s idea good. For me, this is my prediction:
Bitcoin will become like the gold standard. You don’t really use it in everyday transactions; it just chills and accumulates wealth, and you can maybe use it one day to buy a house or something, or maybe even hand it down to your kids.
3. A crypto-camera?
HTC made a ‘Cryptophone‘; which essentially means it is a crypto-camera. To me this is interesting because:
- Imagine one day you can sell your photos (one of one) digital copy via digital ledger system. You can prove on the internet that your copy is the real copy. Right now with digital photos, all copies are equivalent. With Crypto (not currency), this is possible.
- A future of social media meets cryptocurrency. This is the general gist of ARS COIN; you can earn ‘photo coins’ via your effort of giving honest feedback and critique to other photographers instead of just ‘liking’ it. ARSBETA.COM as the only ‘double blind’ feedback platform for photographers, instead of Instagram–Facebook which is just a superficial popularity contest.