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Bitcoin Mining Firm Trolls Warren Buffett with Billboards Outside His Office

Bitcoin mining firm trolls warren buffett with billboards outside his office

Bitcoin Mining Firm Trolls Warren Buffett with Billboards Outside His Office


Warren buffett
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Genesis Mining‘s bitcoin advocacy campaign has posted billboards outside of Warren Buffet’s office to remind him that he was wrong about Google and Amazon and warn him he may be wrong about bitcoin, too.

The billboards went up shortly after Buffet dissed bitcoin during a Berkshire Hathaway annual shareholders’ meeting.

Billboards Constructed to Troll Warren Buffett Draw Community Support

The billboards have drawn a lot of support from people on Twitter, some of whom speculate the investing guru doesn’t have any need for cryptocurrency given his wealth.

One tweeter suggested cryptocurrency will get Buffet’s attention when it is eventually used to tokenize conventional stocks.

Genesis Mining’s bitcoin awareness billboard campaign is an effort to educate the public about bitcoin. One goal is to provide balance to the negative impressions that mainstream media often gives bitcoin.

Earlier this month, Genesis Mining organized a “Bankers Against bitcoin” demonstration at the 2018 Consensus blockchain conference in New York City. The protesters, who presented themselves as bankers, carried anti-bitcoin signs to convey the banking industry’s opposition to bitcoin.

Marco Streng, CEO of Genesis Mining, noted on the Bankers Against bitcoin website that decentralized technology marks the biggest competition banks have faced and noted that the protest represents what will happen to companies that fail to accept change.

Also read: Genesis Mining launches nationwide advocacy campaign

Campaign Supports bitcoin And Blockchain

Warren buffett
Warren Buffett, the “Oracle of Omaha,” is one of bitcoin’s most outspoken critics. | Source: Shutterstock

The website noted the #ExploreBitcoin project began two years ago to raise public awareness about bitcoin and blockchain and has already executed numerous campaigns to raise support for the nascent cryptocurrency.

In 2016, The campaign attacked JPMorgan CEO Jamie Dimon, a strident bitcoin critic, with mobile billboards circling the Miami bitcoin Conference.

In 2017, the campaign criticized journalists for negative coverage of bitcoin.

The campaign has also sponsored signs on top of taxis in Florida that pointed out that the 10,000 bitcoins that purchased two pizzas in 2010 would be worth $2.4 million at the time they were printed. Another taxi sign noted that bitcoin is a technology, not a company or an organization.

Highway billboards in San Francisco and Los Angeles advised people that they can send money for free using bitcoin.

People carrying signs at Western Union stores in Chicago, Washington, D.C. and New York saying “It shouldn’t cost money to send money. Send money for free with bitcoin. Anytime, anywhere.”

The campaign has also provided images that can be posted on social media quoting Eric Schmidt, CEO of Google, saying “bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value.”

More campaigns, Streng says, will be coming.

Featured Image from Twitter

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Published at Sat, 19 May 2018 01:00:39 +0000

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Bitcoin Will Give Japan’s Economy a Substantial Boost

bitcoin and cryptocurrencies had a year of exceptional growth in 2017.  The cryptocurrency market cap managed to surpass the valuation of $638 billion and many experts believe that it will further increase.


The Cryptocurrency Job Market

2017 was one of the most exciting and interesting years for the cryptocurrency market. bitcoin and Ethereum had a spectacular bull run and managed to make huge gains for investors and traders. We also had a huge number of Initial Coin Offerings and a record-breaking amount of funding. ICOs managed to raise over $3.7 billion in funding for blockchain and cryptocurrency-related projects. Most of these startups were successfully able to raise their funding goals and are now on a hiring spree.

An article by Fortune mentions that the number of bitcoin and blockchain-related job listings grew by over 5,753%. Experts believe that this is just the start and that the number of bitcoin jobs will rise further in the upcoming years. Some governments have decided to implement regulations and laws in order to attract bitcoin companies to operate in their countries. The most recent example is Belarus, which implemented new laws to officially legalize cryptocurrencies and give them a tax-exempt status for the next five years in the hopes of attracting companies to start operations in the country.

How Japan Will Benefit from bitcoin

Japan has become one of the most popular countries for bitcoin and blockchain-related companies. One of the major reasons for this situation is the fact that the Japanese government has proper regulations and laws that favor cryptocurrencies. Earlier this year, the Japanese government officially recognized bitcoin as a legal payment method. This caused a major price increase, as many Japanese investors decided to invest in the decentralized cryptocurrency.

Analysts at Nomura believe that the price rise of bitcoin has given many investors a very high return on investment, which might lead to a boost for the economy of Japan. The lead of the analyst team, Yoshiyuki Suimon, stated the following:

Rises in asset values often result in a rise in consumer spending, too, known as the wealth effect. We estimate the wealth effect from unrealized gains on bitcoin trading by Japanese investors since the start of fiscal year 2017, and estimate a potential boost to consumer spending of 23.2-96.0 billion yen.

He also added:

Moreover, the fact that the rise in bitcoin prices was concentrated in 2017 fourth quarter could result in the wealth effect materialising in 2018 first quarter, and if that is the case, we estimate a potential boost to real GDP growth on an annualised quarter over quarter basis of up to about 0.3 percentage points

The effects of bitcoin are multiple on the economy of Japan. Not only are further jobs being created, but the resulting wealth effect from the cryptocurrency’s rise in value is spurring real and measurable economic growth. As more cryptocurrency exchanges and operations move to Japan, it’s likely that this financial trend will continue unabated.

What are your thoughts on the high amount of gains caused by bitcoin? Do you think that it will benefit Japan’s economy? Let us know in the comments below!


Images courtesy of Pixabay

The post Bitcoin Will Give Japan’s Economy a Substantial Boost appeared first on Bitcoinist.com.

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