Myles Wakeham tells us how he discovered Bitcoin, how and why cryptocurrencies have to value, and gives us a nuanced perspective of where cryptocurrency might go in the future.
- Myles is a software developer.
- How did Myles come to invest in Bitcoin?
- Myles spent years figuring ways to pay his Bangladeshi software developer, until mid 2011, when his contractor discovered Bitcoin as a more effective method of payment.
- How is Bitcoin an alternative to PayPal, and has it helped Myles support the growing digital economy in less developed regions?
- Bitcoin value fluctuates pretty drastically – how does Myles pay his contractors a consistent amount?
- What is Coinbase, how secure is it, and how does it work?
- How is Bitcoin similar to the ways people used to trade virtual goods within video games?
- Bitcoin was originally developed as a way to operate outside the banking system after the global financial crisis in 2008.
- Myles purchased Bitcoin early (in 2011) and left it in a “savings account”. What’s happened to the value since then, and how does Myles feel about Bitcoin’s place within global investments and conversation?
- Does Bitcoin have a place in the future economy?
- What are the limitations of a Bitcoin economy?
- What gives cryptocurrency value?
- How does the growth of Bitcoin parallel the California Gold Rush of 1849?
- What causes intangible things to have value, and when else have we seen that?
- What are the tax implications of Bitcoin, and how have things changed since the start of 2018?
- How should people make sense of the huge number of cryptocurrencies?
- Myles suggests that only a few current cryptocurrencies have actual value.
- What is Blockchain, and what it its relation to cryptocurrencies?
- Is it possible to invest in the Blockchain?
- Is it possible for cryptocurrencies to maintain their decentralization?
- Myles suggests that governments that allow, monitor and encourage development of cryptocurrencies is a global benefit, and government’s that oppose cryptocurrencies are shutting themselves off from digital development in the world.
- Is Bitcoin fading in comparison to other cryptocurrencies?
- What cryptocurriency(s) does Myles have his eye on for the future?