“TO THE MOON” is the famous rallying battlecry of Bitcoin blockchain diehards. It is the phrase heard around the world whenever the price of Bitcoin skyrockets relative to fiat currencies. In the last few weeks the price of Bitcoin hit gold parity. And just recently, even with the SEC rejection of the much-anticipated Winklevoss Bitcoin ETF, the value of Bitcoin has quickly recovered to above $1,200 level. There was no “crash.” If anything, it is the Bitcoin community that rejected SEC and not the other way around. Looks like Bitcoin is on its way to the moon after a quick detour.
But all is not well with Bitcoin. There is trouble in the blockchain paradise. The biggest threat to Bitcoin had nothing to do with the SEC rejection. It’s a problem of scaling, and more crucially, a problem of governance. Whatever the outcome of that stalemate, only time will tell. In the meantime, I’d like to offer a more scientifically nuanced analogy to that famous blockchain battlecry.
That said, if the “moonshot” is mass adoption of cryptocurrencies, then my Cryptotrifecta is well-positioned to accomplish that goal. Using a two-stage-to-orbit system as analogy: Bitcoin is the first stage rocket, Ethereum is the second-stage, and Dash is the payload that will actually land on the moon. With the current stalemate in Bitcoin scaling debate, only Dash is in a position to become the killer payment system app that could achieve mass user adoption with the upcoming release of Dash Evolution. If and when that happens, Bitcoin would still be an excellent platform for settlement systems, while Ethereum is not vying to be a cryptocurrency at all, but would become the dominant blockchain for enterprise. In my own personal journey with blockchain technology, Bitcoin was my introduction to the wonderful world of blockchains, and my early adoption of Ethereum during its presale enabled me to acquire a Dash masternode.
So here’s to my Cryptotrifecta Moonshot! I’m looking forward to landing on the moon. See you on the dark side.