Victor Ugochukwu · Dec 14, 2020 . 5min read
Bitcoin has passed all tests, says Peter McCormack
'What Bitcoin Did' podcast host Peter McCormack tweeted earlier today that Bitcoin is no longer a beta technology and has moved past the experimental phase.
By Shilika · Aug 10, 2020 . 5min read
Peter McCormack believes that Bitcoin has passed the litmus test. He tweeted earlier today in response to another individual who claimed that Bitcoin is still an ‘experiment’. McCormack claims that Bitcoin is well past the experimental phase.
McCormack is a popular voice within the cryptocurrency community. He hosts a podcast twice a week called ‘What Bitcoin Did Podcast’. He interviews a host of voices from the crypto space, including CEOs, traders, miners, and journalists.
McCormack got involved in Bitcoin back in 2016. After his advertising agency had to wind up its business, he decided to begin investing in Bitcoin and other cryptocurrencies. Over the next two years, his interest in crypto intensified significantly. His total investment was worth £1.2 million at its height. He had dreams of buying his local football club which would have cost him £5 million, so instead of cashing out, he got greedy. Bitcoin’s price crashed, and his investment’s value also plummeted. However, this was also when his podcast became increasingly popular.
Since then, he has amassed nearly 80,000 followers on Twitters and is a prominent voice. He is undoubtedly an advocate for Bitcoin and has spoken about its role in human rights and political activism on various occasions on his podcast.
Is McCormack, right?
His tweet from earlier today certainly makes an interesting point. What more does Bitcoin have to do to be accepted by the wider global community? It has had a great year both as an investment tool and as a hedge against monetary inflation, owing to its remarkably stable value. Major financial institutions around the world have added it to their portfolios. Central banks and governments have observed the blockchain technology that supports Bitcoin and are trying to integrate it into their own ideas.
If Bitcoin is still considered to be in the experimental phase, then it is only a matter of time before it breaks out of that shell. 2020 has been the best year in terms of bolstering the reputation of Bitcoin and cryptocurrencies as a whole.
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