Skip to comments.Future Wealth: Why Amazon Will Launch Its Own Cryptocurrency
Posted on 09/19/2018 9:26:20 AM PDT by SeekAndFind
In recent years, Amazon has reshaped entire industries with its innovations in e-commerce and its acquisitions of retail stores like Whole Foods.
Today, Jeff Brown, Townhall Medias Official Wealth Creation Expert, shows why Amazon may soon take an unprecedented step into cryptocurrencies. And as an investor, this is a development that should be on your radar.
Most investors missed it
And the mainstream media, as far as I know, never even reported on it
But while Wall Street remains fixated on the ups and downs of bitcoin, something unusual is playing out behind the scenes in the blockchain industry.
And it could have huge implications for cryptocurrencies and even change how business is done forever.
In short, I believe a major U.S. company is about to issue its very own cryptocurrency
What Im about to tell you may sound unbelievable. But Ill show you all the proof. Then you can decide for yourself.
The company I alluded to is Amazon, the e-commerce and web-services giant. And I believe it is about to issue its very own cryptocurrency.
You likely know Amazon as an e-commerce company. Maybe youre even an Amazon Prime member and use the companys fast delivery services.
But investors who think that Amazon is in the business of just selling books, electronics, and dishwasher detergent online are unfortunately missing the big picture Unless you dig in and understand whats happening behind the curtain, its easy to miss.
Even our own Bill Bonner (founder and chairman of Bonner & Partners) has had his doubts about Amazon. He famously called the company the river of no returns.
I mention this briefly because its a bit of an elephant in the room for readers of Bills daily Diary.
Ive known Bill for a while now. I have nothing but respect for him. And hes had some great calls over the years. Yet on Amazon, we certainly agree to disagree.
We first discussed Amazon over breakfast in July 2015. I contended that the companys stock was worth every penny and that it belonged in every investors portfolio.
Bill didnt bite. And thats fine. As professionals, we can disagree from time to time. And its healthy to consider differing viewpoints. Thats how you learn, after all.
But there has been an interesting development with Amazon. And as an investor, it should be on your radar
You see, something interesting popped up in the internet domain name registry recently. And it looked like this ( See Figure below ):
Amazon registered the new website address: www.amazonethereum.com.
And it registered another: www.amazoncryptocurrency.com.
And another: www.amazoncryptocurrencies.com.
And this was on top of the already registered www.amazonbitcoin.com.
Now, these links will not lead to anything. They are not live.
But if history tells us anything, this is likely just the beginning of something exciting.
As I said, I think Amazon is getting ready to launch its own digital currency. And I cant think of a better company traded on a U.S. stock exchange that could pull this off.
Amazon is starting to remind me of the Gary Oldham character in The Fifth Element.
After years of being hooked on Amazon, we were ticked off that Bezos, the richest man in the world, jacked up the cost for Prime shipping by 20% this year. So we did not renew our membership.
We have survived for several months and have saved a lot of money, because our penchant for spontaneous shopping is over. Instead of ordering several hundred dollars worth of stuff, we’ve spent $55 in two orders, both a bit over $25 so they qualified for free shipping. We have found we can shop locally and not be deprived. Love it when a plan comes together.
Spot on comparison!
RE: “Amazon is starting to remind me of the Gary Oldham character in The Fifth Element.”
Thus far, I'm not willing to pay half to twice as much just to avoid doing business with Bezos.
I don't miss it at all.
Scrip currency. Used by the US military in countries to prevent the distribution of US currency in the region. Part of it was to reduce the effect on the local currency, making it mandatory to exchange the scrip only at the official rate of change, and part of it was to keep down the black market, in which the locals were not permitted to use the scrip to exchange for local currency, often at very unfavorable rates.
Also used in “company stores”, but useless elsewhere, forcing the persons paid only in scrip to buy only at the company store.
That the scrip is stored electronically makes its use no less pernicious.
Cryptocurrency, blockchain and equivalent technologies will be highly-disruptive, no doubt. But the fundamental driver of currency valuation is being government backed.
Why? It is quite simple. Inevitability. Death and taxes.
Our mere existence requires things which are most conveniently acquired with money. One of the “things” we must have money for is to pay taxes.
Everyone must pay taxes, so this is essentially a lifelong debt we all must pay. If someone does not pay taxes directly, they are still paying them indirectly, or someone else is paying for them.
Cryptocurrencies will only have stabilized valuations when governments accept them as payment for mandatory taxes. That’s the real meaning of currencies being government backed.
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