One of the first bitcoin millionaires spoke about disappointment in the industry

One of the first bitcoin millionaires spoke about disappointment in the industry

The creator of the already defunct TradeHill bitcoin exchange, Jerid Kenna, said he had lost his love for the cryptocurrency industry and opened a beer pub in Colombia.

He is convinced that people have forgotten about the revolution in the field of payments and focused on making money through speculation.

Also fwiw I don’t really hold any crypto. I think I have like half a BTC a few BCH and 50,000XRP.

I love the tech but lost the love for the industry. I still think it’s brilliant but I’m not active. If I say something like “buy the dip” or HODL it’s what I’d do if still in

To date, Kenna holds only half of Bitcoin, a bit of Bitcoin Cash and 50,000 XRP. He began a new life in 2016 – with his own brewery and a pub in Colombia, where he got thanks to his ex-girlfriend.

In an interview with Bloomberg, the entrepreneur said that in 2010, he accidentally deleted his wallet from 800 BTC on his computer, and in 2016 he became a victim of a hacker attack, which resulted in the loss of millions of dollars.

“This attack destroyed my whole life,” Kenna emphasized.

Then he was just about to open another cryptocurrency exchange. Kenna launched the first site in 2011, but due to problems with obtaining a license and refusal of banks in the partnership, TradeHill closed in 2012.

“I recently attended a cryptocurrency conference in Miami and saw a bunch of models looking for men. So much has changed … ”, he pointed out the difference between the technological geeks who were at the forefront of bitcoin and the public at relevant events today.

According to him, once he came to the industry to change the world. But the turn in the commercial direction, the boom of ICO and IEO, as well as speculation caused him deep disappointment.

A lot of people think I’m anti-crypto now. I’m not. Just not as enthusiastic to participate.

“Then, in the early period, we talked about what really matters. Few people thought how to make money. ”

In a comment to Bloomberg, Coinmetrics co-founder Nick Carter emphasized that many of Bitcoin’s early associates were architects of utopia. He sees nothing surprising in their disappointment today.

“Lost souls,” Carter described them.

In 2012, Kenna acquired a building in San Francisco for part of cryptocurrency capital, from which he made a space for the coexistence of geeks and cultural figures. Currently it has 41 bedrooms, several bathrooms and a shared kitchen.

The entrepreneur plans to acquire a school near Boston and to convert it into a similar space with 400 rooms and a technological incubator. In parallel, he intends to import beer into the United States.

“I don’t think cryptocurrencies will completely disappear. 90% is, of course, speculation. But a casino, for example, is 100% speculation. They exist. ”

He also made it clear that he is not a bitcoin maximalist.

Also I can promote @bitcoin and sing it’s praises all day (which I do) without HODLing.

My feeling on the current state is Crypto in general not just #bitcoin

Recall that in 2018, the first Bitcoin developer Marty Malmi after Satoshi joined the new cryptocurrency project.

One of the first bitcoin millionaires spoke about disappointment in the industry