Day 474: China Bans Bitcoin

Yesterday I was explaining how being a trophy husband is exhausting and the importance of channeling demand.

Speaking of my role as a trophy husband…

A dirty house takes a toll on my mental health.

And my mental health takes a toll on my ability to keep the house clean.

It’s a vicious cycle.

*not really*

In other news…

Only those that attempt the absurd can achieve the impossible. ~ Albert Einstein

Anyhoo…

Your ONE COACHING THING Today Is:

‘Twitter / Bitcoin’

I started writing about Bitcoin years ago when it traded at $5k… it’s traded as high as $63,000 since…

You’d likely be thanking me if you took my advice.

In the last few days, two significant things happened that a business coach should be aware of at a macro level…

1. China banned Bitcoin and heavyweights are freaking out
2. Twitter integrated payment API’s with Bitcoin

I was loosely asked about this on my most recent podcast and explained in depth what I see happening as a result.

Here are a couple of my thoughts:

1. Social platforms like Facebook will need to integrate it also (FB is planning to start its own – this is a potential wrench in those plans)
2. Network effects (one of my favorite topics) will subsequently take effect

Everyone is freaking out (Robert Kiyosaki specifically) and expecting doomsday after the ban… I think when China bans something it’s a good thing.

Why?

History is a pretty good indicator as to what the future looks like… but FAR from a guarantee.

Rather than listen to my broke uneducated friends sharing meme’s on FB or suffering recency bias… I did some homework and here’s what it told me:

China banned Facebook in July of 2009…

FB is up 15,167% since then.

China banned Snapchat in Jun 2013….

Snap is up 16,014% since then.

China banned Google in March 2010…

Google is up 1018% since then.

China banned Bitcoin in December 2013…

It’s up 5,209% since then.

It appears China bans things they want to control the supply and compete with it.

Stated otherwise:

They ban things worth duplicating.

Watch for a Chinese Cryptocurrency coming to a theatre near you :o)

Moral of the story:

Chinese banning BTC is far from catastrophic.

If the American government follows suit and bans Bitcoin… different story.

*Not financial advice… ask someone taller, smarter, and more handsome than I. And yes, I realize how difficult that would be*

Listen to my weekly podcast if you wanna stay informed on all things Business Coaching related.

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You heard it here first.

Now, pick up the phone and go help someone.

Obsessed with your business coaching success,

Karl Bryan aka King Karl

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