John Mauldin: Bitcoin Is the Future of Money

Journalist:
December 2, 2014

Many of you have heard of John Mauldin. His newsletter has over 1 million readers worldwide. Several of his investment books have reached the New York Times best-seller list over the last decade. He is a constant guest financial commentator on TV and radio throughout the United States and is a renowned public speaker on finance. He is also the Chairman of Mauldin Economics, an economics publishing firm, and the President of Millennium Wave Advisors, LLC, an investment advisory firm.

So he knows a thing or two about investment advice and handling finances. Now, he has come out with some interesting commentary on the future of money, which may be the future of Bitcoin itself.

Also read: The Future of Bitcoin: It’s not what you think

John Mauldin: Bitcoin is The Future of Money

In a new edition to his newsletter, Mauldin gives some of his views on how money will evolve over the coming decades. His associate Worth Wray goes in-depth into the structure and utility of the digital currency. Rather than focus on the tech bits, let’s examine his personal outlook, and how he was turned onto Bitcoin in a unique way, as he was walking down the street.

My introduction to Bitcoin came when I was speaking at a gold conference in Palm Springs, and three bright-eyed, bushy-tailed college students approached me with a video camera and asked for my thoughts on Bitcoin. Noting my confusion, they began to evangelistically espouse the virtues of Bitcoin and tell me how it would save us from the evils of the Federal Reserve. I kept from rolling my eyes (you did want to encourage passion in the young) and mentioned a meeting that I had to go to – at that very moment as it turned out. Since that time, Worth Wray, I, and our entire team at Mauldin Economics have done a great deal of research on Bitcoin.

Looking into the future, what do you see when it comes to the world of money? Will simple fiat currency still rule the world? Or will we evolve past that as our “Digital Age” matures with every method of new technology enhancing our lives, and even our pockets. Mauldin has no problem seeing a future without fiat currency as a way to share value and information.

If you ask me whether I truly believe that in 2050 the main medium of exchange will be paper money, a very quick answer is that I don’t. I also think there is a better than reasonable chance that it won’t be a fiat currency. But will it be Bitcoin? My best guess is that it will not be Bitcoin as currently constructed but rather an evolved version.

His most definitive commentary was reserved for the Bitcoin Blockchain itself, which holds many future innovations we haven’t even unlocked yet. The possibilities are endless.

The Bitcoin blockchain technology allows for the most secure electronic transactions ever
devised. Its adoption and acceptance seem inevitable to me. It will be used to validate everything
We purchase stocks, homes, investments, airplane tickets, etc. It will be a far cheaper and much
more secure way to validate your ownership of anything, from your home to your stocks.

So Bitcoin earns another endorsement from someone not directly tied into the establishment’s economic paradigm. The further away from Wall Street and the federal government you get, the more appreciation and value Bitcoin provides.

Britain used “Tally Sticks” for centuries. Gold coins, bartering and fiat currency, have all had a run as the preferred method to transmit value. With “The Digital Age” fully upon most developed societies worldwide and the banked world becoming almost dependent upon computers, Bitcoin’s digital abilities seem destined to hold our economic future in it’s decentralized hand. The main question seems to be when, not if. Keepers of the status quo are fighting this eventuality as we speak, but “The future of money” may already be upon us. The biggest question are you ready for the future?

What do you think of John Mauldin’s commentary and view of the future of money? Share above and comment below.

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Last modified (UTC): December 2, 2014 08:49

Evander Smart @EvanderSmart

Evander Smart wants to get you talking, get you thinking, get you learning about Bitcoin, "The Future of Money". He has two Bitcoin video training courses on Udemy.com called "Bitcoin for Beginners". Go to EvanderSmart.com to get the latest on Evander and the latest Bitcoin news.