- The controversial Internet billionaire Kim Dotcom predicts in a new video that his new product will bring cryptocurrencies into the mainstream.
- Dotcom sees the old financial system as obsolete and describes that it is time to replace it with cryptocurrencies.
Internet billionaire Kim Dotcom was able to attract millions of users with his file-sharing website Megaupload until it was shut down by authorities. Now he is planning the next coup in the field of cryptocurrencies. Dotcom has criticized the existing financial system on several occasions in the past and predicted that the next monetary system will be based on digital money such as Bitcoin, Cardano or Stellar Lumens.
Dotcom’s new product to bring crypto into the mainstream
In a new video, Kim Dotcom has declared war on the current financial system and predicted that he will do everything in his power to establish cryptocurrencies in the mainstream. He states on Twitter:
The numerous sites I created had over a billion users. I know what it takes to bring a billion users to crypto and I’ll have a role in making that happen. The time has come to bring crypto to the masses. The corrupt and outdated financial system has to go.
Dotcom describes that users want fast and cheap transactions and that although Bitcoin and Bitcoin Cash have been able to generate a large user base, his new project will be a gamechanger for the industry:
I want to come in as a bit of a game changer because I know already that what I’m creating now is going to be used by hundreds of millions of people.
Dotcom states that only 2% of all Internet users have come into contact with cryptocurrencies and that the remaining potential is huge. Willy Woo, a successful trader and partner of Adaptive Capital, said that within the next 5 years, the number of Internet users worldwide who will actively use cryptocurrencies will increase to over 16%.
Kim Dotcom points out that many crypto users are unaware of the tough power struggles behind the scenes. The cryptocurrency of the future will deliver the cheapest and fastest transactions while being reliable and secure. In his opinion, this cryptocurrency will not be Bitcoin. At this point it should be noted that Dotcom is a Bitcoin Cash Supporter and Investor.
Bitcoin Supporter Tone Vays is skeptical about Kim’s statements and describes that Bitcoin is much faster and cheaper than BCH by using the Lightning network and could also be used by a billion people in the next few years. Unfortunately Dotcom doesn’t give any further details about his project at this time, so it remains to be seen if these are just empty promises or if he is actually working on the development of a “killer app”.
Bitcoin adaptation worldwide on the rise
A recently published study by the American exchange Coinbase describes that 27 million people in the United States own Bitcoin. This corresponds to almost 9% of the total population. Google Trends also shows that search queries such as “royal wedding” or “election results” have been overtaken by Bitcoin.
According to data from SEMrush, Bitcoin is used more often in Italy for payment in online shops than American Express or the traditional credit card. In first place is the American payment service PayPal with 1,383,000 online purchases made. It is followed by PostePay (1,117,000), Bitcoin (215,800), American Express (189,000) and the credit card (33950).
Bitcoin’s price has shown a sideways movement (- 0.28) within the last 24 hours and stood at USD 8,668.92 at the time of writing.