It’s time to be candid about Bitcoin, Ducatus Coin and the real reason why one is different from the other. We also talk about a happy coincidence that led to an incredibly fruitful outcome. This Monday’s episode is extra special. #MondaysWithRonny
Many people are asking me what do you really think about Bitcoin. Well, stay tuned.
MONDAYS WITH RONNY
Well Bitcoin for me is the mother of all cryptocurrencies and I love Bitcoin. Through Bitcoin, I got into this business.
SUPERS: BITCOIN IS THE MOTHER OF ALL CRYPTOCURRENCIES
Bitcoin for me is going to be more like a store of value in the future
[TEXT ON IMAGE]: YOU MEAN, LIKE GOLD?
Rather than an actual currency which you are going to use on a day-to-day basis for making payments. I believe people will be buying into Bitcoin, they were keeping the Bitcoin, they will store the value in Bitcoin, and hope that the price will continue to rise as it has in general over the last eight years.
The whole concept of Bitcoin of a limited currency is great especially one that is not issued by a government or central bank.
SUPERS: BITCOIN HAS LIMITED SUPPLY, WHICH IS GREAT
So over time, it’s a deflationary currency, not an inflationary which we’ve seen around the world with all the fiat currencies over the last couple of decades.
Bitcoin is something that everybody should be getting their hands into and start learning how to use because I believe it’s going to be an important part of our future life.
SUPERS: BITCOIN IS GOING TO BE VERY IMPORTANT IN THE FUTURE
[TEXT ON IMAGE]: ANYTHING NOT-SO-GOOD ABOUT BITCOIN?
Not so good about Bitcoin is on one side the whole process of mining new Bitcoin,
[TEXT ON IMAGE]: In cryptocurrency networks, mining is a validation of transactions. For this effort, successful miners obtain new cryptocurrency as a reward. (Source: Wikipedia)
so of creating new Bitcoins which over the last couple of years have formed two parties: one is the user, the other one is the mining companies, the mining farms, the people who have invested a lot of money in producing, and in setting up this huge mining farms with miners using a lot of electricity.
So I believe, this is a concept that needs different kind of solution because it’s number one using too much electricity and on the other hand is favouring the people who can invest a lot of money into these machines.
SUPERS: CURRENT SYSTEM FAVOURS MINING COMPANIES RATHER THAN ORDINARY PEOPLE
The initial idea of Satoshi Nakamoto was a different one where everybody can be part of the community.
95% of all Bitcoins are produced by the big corporations, by the big mining farms and that wasn’t the original idea so rather than being the Bitcoin the currency for the people, right now it has taken a very different turn.
SUPERS: MOST BITCOINS ARE PRODUCED BY BIG MINING FARMS
Ducatus Coin is actually a better version of Bitcoin.
SUPERS: DUCATUS COIN IS A BETTER VERSION OF BITCOIN
We’ve seen that in the last couple of months where the fees for small transactions were tens of dollars and it’s obviously not in the interest of users.
Block time in Bitcoin is 10 minutes. We took that at Ducatus and we reduced it to one minute so our transaction time and our confirmation time is ten times faster than Bitcoin.
SUPERS: DUCATUS TRANSACTION TIME IS 10X FASTER THAN BITCOIN
HOW A BITCOIN PIONEER BECAME DUCATUS’ TECHNOLOGY ADVISOR
I’ve met Dustin about 4 years ago
[TEXT ON IMAGE]: Dustin Trammell is a blockchain and cryptography expert who was a very early adopter of Bitcoin. He is the CEO of Trammell Ventures and currently, Ducatus’ Technology Advisor when he purchased a villa from me in Bali paying the purchase price 100% in Bitcoin. Now at that time I didn’t know who Dustin was, I only found out later that he was one of the very early adapters of Bitcoin and an email trail that goes back to early 2009 shows that he was in early contact with Satoshi Nakamoto at that time who invented the Bitcoin and the blockchain technology.
He is one of the few cryptographic experts in blockchain technology and when we decided that we want to do our Ducatus Coin, I called him up and I asked him if he will be agreeing to be our consultant and help us to develop the technology and the blockchain for our Ducatus Coin. He luckily agreed. I’m very happy to call him a friend.
When I first got in touch with Dustin, it was through Skype
[TEXT ON IMAGE]: ANY FUNNY ANECDOTE ABOUT DUSTIN?
and his tagline on his Skype is it ain’t easy to be green. He just loves the colour green. It becomes very clear when you see him because he only wears green clothes. As I heard from his partners and friends, everything in his house in the US is green, everything that he buys is green, so his whole life revolves around the colour green. It is something that I felt is very very special about him.
Okay guys, that’s it for today. Montage sind großartig, Ihr seid großartig. Mondays are great, you are great. Stay healthy, all the best. Cheers!
Ronny Tome is the CEO of Ducatus Global. Ducatus Global Pte Ltd is a Singapore-based company that is the administrative heart of the Group worldwide. Our globally distributed management team provides management and professional support for the whole Group. Centurion Global Limited, based in the Cayman Islands, is responsible for the production and global distribution of the coins through the Ducatus network. Additional group of companies in Dubai and Singapore are responsible for charity projects, education and training, e-commerce, franchise cafés, health, travel and property. For more information, visit https://ducatus.net