With Bitcoin’s value skyrocketing again, there are plenty of get-rich-quick hopefuls trying to make a fast buck out of it in the hope the mania of it’s rise in 2017 will be surpassed. However, Bitcoin and other cryptocurrencies aren’t just an investment vehicle. As the name suggests, they are intended to be used as a currency. So how can you spend your cryptos in the real world as opposed to flipping them on buy and sell platforms?
Jaide Barclay is a local Gold Coast girl who spent 12 weeks travelling the world earlier this year using only cryptocurrencies for all her expenditures.
BlankGC caught up with Jaide to find out how she did it and what her thoughts are on the future of cryptocurrencies.
Which cryptocurrency / currencies did you use on your travels and why did you chose those specific ones?
Bitcoin, Ethereum & ADA. I already owned Bitcoin & Ethereum and they were always accepted at any place that took cryptocurrency. I was given an ADA giftcard when I was in Seoul, so I used that there.
How and when did you get hold of your cryptocurrencies?
I first bought bitcoin in early October 2017. The first platform I used to buy it was Independent Reserve. However I now purchase on multiple exchanges depending on prices.
Would you please explain Bitrefill and TenX. Why did you use them?
Bitrefill is an app that I used in The States. You can buy giftcards to lots of stores using cryptocurrency. TenX is a Visa card that’s loaded with cryptocurrency instead of fiat. I only used crypto visa cards when there was no other option. Someone organised this for me about half way through the trip.
What are the most crypto-friendly destinations overseas?
Singapore & New York.
How did Brisbane and the town of 1770 become so crypto-friendly?
They were both extremely crypto friendly in comparison to other cities. In particular The Valley in Brisbane has a lot of restaurants and cafes that accept crypto.
Could you use Brisbane based travel company TravelbyBit to travel anywhere using cryptos or just to Global Blockchain Events? And what exactly are Global Blockchain Events?
Anywhere, it was just that my travel plans were all based around blockchain events. They are just conferences and industry meetups. They have a line up of speakers, networking events & booths for crypto and blockchain events wanting exposure.
Lots of economists are predicting a global recession or possible economic collapse within a year due to the global debt bubble that has been expanding since the GFC of 2008. Do you think this could result in the rise of a decentralised crypto-driven economy and a move way from traditional banking strongholds over global economic systems that rely on the US dollar for global trade?
Yes I do. I don’t think we will move away from traditional banking strongholds overnight but I think it will push more people towards cryptocurrency. As people continue to lose confidence in traditional banking, cryptocurrency will become a more attractive solution.
Given that cryptocurrencies were meant to be a decentralised monetary system, do you think the likes of Facebook’s Libra cryptocurrency could ruin the public’s perception of a libertarian crypto monetary system that frees them from the chains of traditional banking? Wouldn’t Facebook simply become a different version of a bank?
To be honest I wouldn’t even call Libra a cryptocurrency as it’s not decentralised. However I believe the majority of people will mistakenly view it as one. Yes I do think Libra will blur the general publics perception of what cryptocurrency is. Those that become more interested in cryptocurrencies and blockchain technology will realise that Libra is not a cryptocurrency as they do their research.
Learn more about cryptos on Jaide’s YouTube channel ‘Crypto with Jess and Jaide’.