Cryptocurrency is truly an uncharted frontier; i.e., a solution to all that’s wrong with finance (and potentially, politics), that 99% of the world has not yet acknowledged. Those that have are as far ahead of the game as those who bought internet stocks in the mid-90s; or, well, Bitcoin pre-2016.
That said, nearly all crypto investors have LOST money – and whilst the mainstream investment community finally acknowledges it exists (at least, Bitcoin), 99% have not yet participated. They will, I assure you – but as of now, it remains at best a dangerous, volatile curiosity.
When I first became a well-known member of the Bitcoin community in 2016, I mistakenly believed it consisted of the world’s smartest, shrewdest, and virtuous people. Yes, some of the brightest people I know are here – but then again, I knew some very bright people in energy, mining, and bullion, too.
However, what I’ve learned over the past two years of mostly bear market conditions, is that it’s no smarter or shrewder than anywhere else – and care of the anonymity of social media, is far meaner (and unquestionably, younger) than any sector I’ve been involved in.
Like any aspect of finance – or society – there exist one percenters, who are smarter than most, and act accordingly. Some, like MWC Lead Dev Chris Gilliard, not only are brilliant coders, but understand Bitcoin completely – and fortunately, due to his long-standing work in the mainstream tech world, has colleagues as talented as himself.
So, it’s no surprise he recognized early on how powerful MimbleWimble technology is – in my view, the most revolutionary in crypto history; AND, had the ability, and wherewithal, to act on his instinct, to create what will unquestionably be the best, and most investable, MimbleWimble coin; MWC, whose MainNet launches November 11th – followed by BTC airdrop claims (and likely, exchange listings) a month later.
When Bitcoin inexplicably crashed through its “descending triangle” formation September 24th, from $10,000 to $7,700 – it had the same sentiment-destroying impact on crypto as last year’s blatantly orchestrated BSV attack…which broke the then “Hoffman Line” at $6,000, yielding a 50% sector-wide decline in a matter of weeks.
Then, as now, essentially ALL coin values were destroyed – in a very crypto-like throwing out of the baby with the bath water. Which brings me today – when there is literally no material FUD in the Bitcoin world…as evidenced by a record hash rate, in a monetary world gone crazy.
Since September 24th, essentially all coins are down around 50% - in some cases, significantly more…even though Bitcoin’s “plunge” left it at $8,000, as opposed to $3,000 last year. Yes, we have been amidst a slow altcoin purge all summer – but what is occurring now, is exactly what occurred last year…only this time, on much lower volume, with much less fear.
Regarding the two MimbleWimble stocks, Grin and Beam (MWC will launch November 11th), they were, despite being horrifyingly un-investable due to their huge (in Grin’s case, non-existent) supply caps, amongst the top performing coins all year. However, they both are down huge since the June Bitcoin high…and since September 24th, Beam has fallen from $1.60 to $0.70; and Grin, $1.90 to $1.10. In other words, acting like essentially all other coins, despite having, BY FAR, amongst the best use case propositions.
The thing with MimbleWimble is; that Chris Gilliard and the top crypto developers KNOW; is that it is far superior technology to current blockchain protocols. To wit, it is FAR more scalable, private, and fungible – and UNQUESTIONABLY, if it was around in 2009 (the MimbleWimble White Paper was published in 2016), Satoshi would have included it in Bitcoin’s code.
The “problem” is, it is so revolutionary, it is unlikely to ever be incorporatable into Bitcoin without a hard fork. Thus, despite the fact that a disproportionate amount of crypto developers are now working on MimbleWimble, the Bitcoin community at large shuns it – and at times, spreads gross misinformation about it.
Even the great Andreas is not immune to Bitcoiners’ unspoken FEAR of a hard fork – to the point that he, and essentially every “expert” I’ve heard speak about the topic, acts as if MimbleWimble doesn’t exist. To that end, its laughable that even those who acknowledge the upcoming “privacy debate” (which unquestionably, will include scalability and fungibility, too), act as if non-starters like Schnorr Signatures are potential solutions.
ONLY MimbleWimble solves these issues – and at the rate MWC, Grin, and Beam developers are advancing the code, I’d be shocked if by this time next year, the majority of Bitcoiners aren’t well-aware of MimbleWimble’s enormous potential.
Heck, some may even recognize the potential for Bitcoin to one day amicably incorporate it – whilst those Bitcoin holders wise enough to claim their FREE MWC airdrop (amounting to 1% of the entire BTC float), could profit from MimbleWimble’s growth…EITHER in conjunction with Bitcoin, OR as a hedge against the threat it could one day impose.
In a nutshell, no matter how “maximalist” one is, there is NO WAY one can genuinely claim MimbleWimble coins to be “sh-tcoins” – as at worst, they will have value independently of Bitcoin…and at best, become its greatest ally!
The MWC airdrop registration ended July 19th, with MainNet launch scheduled for November 11th, 2019, and claims on December 11th, 2019. A total of 148,474 Bitcoin registered – roughly 1% of the entire BTC float - yielding an MWC/BTC ratio of roughly 40.41. For more information, please check out the MWC website, Discord room, Twitter feed, and Telegram Forum.