TL;DR: Legendary internet personality and entrepreneur Kim Dotcom recently revealed his thoughts on what the future might hold for cryptocurrencies. Surrounded by BTC maximalists, Dotcom explained how the store of value argument appeals only to a small number of people, and not to those who will eventually become interested in crypto. He stressed peer-to-peer electronic cash-like qualities and utility are what current and new users desire.
Kim Dotcom to BTC Maxis: P2P Electronic Cash, Not Digital Gold, is the Future
During a recent interview with BTC maximalist Tone Vays, the iconic internet figure Kim Dotcom was led into a conversation about cryptocurrencies. Over a friendly card game, Vays ended his point about Binance supposedly breaking most financial law in creating a proprietary token, and bemoaned the giant exchange’s “competitive advantage” which somehow causes rivals to also break the law in order to stay economically viable.
Dotcom, a serial entrepreneur, appeared mildly frustrated with Vays, and outlined how an exchange such as Binance would be foolish not to take advantage of a large, loyal userbase who clearly wants its product. He even suggested the next logical step for such a successful exchange token would be for the business to create its own cryptocurrency altogether. “And why not use your influence, and all these user numbers that you bring to crypto, to have influence over what are the best solutions?” he asked rhetorically.
The New Zealand-based Kim Dotcom also referenced previous conversations he and Vays had about another legendary figure, Roger Ver, Executive Chairman of Bitcoin.com and prominent supporter of Bitcoin Cash. “You and Roger have a lot of disagreement about a lot of things,” Dotcom noted of Vays’ relationship with Ver. “I met with Roger and I sat down with him, and I understood where he was coming from. He shared with me some of the innovations that he’s working on. I think the guy at the moment, in terms of his way of thinking and where he is in his innovation, is a step ahead. I feel it would be stupid to ignore someone like that … that helps to use whatever he creates to make the entire space better.”
Roger Has Some Really Good Ideas
Dotcom hinted at a project the notorious creator of Megaupload is working on now will be used by “hundreds of millions of people,” noting “about a billion people have touched my numerous websites” in one form or another. He stressed all the knowledge he’s gathered over the last ten years is being employed in his latest, undisclosed venture. “I know what users want. I think I’ve created what could be a killer app for crypto,” he assured. “I am looking at the reality of crypto today and all this fighting. Real innovation is not being recognized because of this fighting, because of the toxicity.” And as a result of his potentially bringing so many users into the cryptosphere, he wants “to make sure we look at innovation again; we look at what are the best ideas.”
“Believe it or not, Roger has some really good ideas,” Dotcom insisted to an increasingly fidgety Vays who seemed uncomfortable. “He’s working on cool stuff in terms of security, privacy. I also agree with his argument that in order to be a very successful cryptocurrency you need to provide fast and cheap transactions. There is no way around that. It’s nice to be a store of value, but if you really want to succeed in this game, you need to be the electronic cash. Right now, only 2% of internet users have been exposed to crypto. We are a niche, small, piece of shit in the universe of business. This is going to change. A lot of new people are going to come into the space.”
Dotcom also pointed to how most people believe in the next five years, new interest in crypto will boom by double-digit percentages. “Where are all these people going?” he asked. “They don’t know anything about the current wars that are taking place, the current toxicity within the crypto community. They are going to go with the currency that gives them the cheapest fees, the fastest transactions, the most reliability … and currently, unfortunately, that is not [BTC].” Vays ordered another drink and checked his phone.
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