“Blockchain projects are borrowing the dream of network extension from Bitcoin”
Bitcoin Black Friday is fast approaching — Bitcoin enthusiasts will soon have the chance to buy all sorts of things with this cryptocurrency including video games, web hosting, computers etc. We talked to the founder of Bitcoin Black Friday, Jon Holmquist, about his quest to provide a foil to Bitcoin’s negative brand image and the evolution of this cryptocurrency.
Bitcoin Black Friday is launching for the fifth time. It is insane looking back on the history of Bitcoin to see how far it has come. During the first Bitcoin Black Friday no one knew what Bitcoin was or what you could use it for. This year, it’s widely known and Bitcoin’s underlying technology is being disseminated into different industries.
The theme this year won’t be highlighting what you can buy with Bitcoin but a celebration of the history of Bitcoin.
JAXenter: What difference do you see between the first Bitcoin Black Friday that you organized and the one happening soon? Has Bitcoin evolved?
Jon Holmquist: Well, the easiest difference to note is how much less I have to explain Bitcoin! So many people have heard about it at this point and have a basic understanding of what it is. There was a lot more excitement about Bitcoin when it was unknown, but at this stage, I think the community, and the world, know what Bitcoin is, and can be used for.
There are definitely markets that could benefit from Bitcoin.
JAXenter: How did you come up with the idea to create Bitcoin Black Friday?
Jon Holmquist: I was working for a Bitcoin accepting merchant and really wanted to push the fact that you could buy normal things for Bitcoin, not just drugs… which was a major image issue back during the Silk Road days.
JAXenter: The theme of this year’s Bitcoin Black Friday is the celebration of this cryptocurrency. How are you planning to celebrate the history of Bitcoin?
Jon Holmquist: By buying Bitcoin-related shirts and spending my hard earned bitcoins!
JAXenter: You launched Bitcoin Black Friday to provide a foil to Bitcoin’s negative brand image due to the Silk Road. Did you manage?
Jon Holmquist: I think Bitcoin (as compared to ‘Blockchain’) still has a bit of a negative image. But it has come a long way from 2012… Just check news headlines, Bitcoin-related news is generally pleasant… and even the negative news such as the ransomware hacks don’t dwell on Bitcoin’s involvement. I think people see it more as a tool now than specifically a tool for illegal activity.
JAXenter: What are the issues that affect Bitcoiners and Bitcoin merchants?
Jon Holmquist: Major issue, not enough Bitcoin consumers. I think that’s something that will come in time. It won’t be an overnight adoption and it might never be something that everyone uses but there are definitely markets that could benefit from Bitcoin, and I think there’s a lot of potential for new consumers to show up in those industries.
People trust Bitcoin.
JAXenter: Why did you become a Bitcoin evangelist? What drew you to this digital currency?
Jon Holmquist: I love the community. I got excited about Bitcoin not because I understood it at first, but I saw all of these smart people getting involved, and getting very excited about the possibilities of Bitcoin. I think the honeymoon phase is over now, though, a lot of the excitement, for better or worse, has switched to other coins, sidechains, external projects.
JAXenter: In your opinion, will Bitcoin continue to thrive or will blockchain steal the show?
Jon Holmquist: Bitcoin does a damn good job. People trust it. People send money via Bitcoin. Will ‘the blockchain’ steal that show? Probably not. Even if a new project did a better job than Bitcoin it would still take years before it had the recognition and the backing to make a dent in Bitcoin’s market cap. The only thing new blockchain projects are borrowing from Bitcoin were the dreams of extensions of the network. Smart contracts, decentralized voting, things like these that will get their chance to succeed or fail. That won’t affect what Bitcoin is doing, nor what it will continue to do for years to come.
Thank you very much!