“Worldcoin (WLD)”
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*The description about Worldcoin (WLD) is from the middle of the article.

I don’t know if it’s because of the times, but compared to stocks and foreign exchange, crypto seems to be moving up and down in price in unison.

In other words, I personally feel that it doesn’t make much sense to hold multiple cryptos in the name of diversifying investments.

Including coins that are not exactly what you would call crypto, I own about 10 types. Some of them have experienced drawdowns exceeding -90% since the time of purchase. Like Mona Coin…

By the way, I might be laughed at for diversifying in crypto, but let me make an excuse. The crypto market at that time (around 2017) was even more unpredictable than it is now, repeating roller coaster-like movements, and I was just getting into investing. It was a desperate measure to try to stabilize the overall price fluctuation. That’s my excuse, but I have no excuse for still holding them. It was just a foolish move. Regrettable.

Putting that aside, in the coming months and years, as the so-called shitcoins get eliminated and the number gets narrowed down, the situation might change. If you were to invest in cryptocurrencies again, under the current circumstances, wouldn’t it be better to hold just one or two major ones?
…this is a highly personal opinion of a day trader wannabe.

The Future of the Crypto Market

There are too many uncertainties, such as the end of Bitcoin mining, laws in various countries, and particularly how the United States will respond, to make any predictions, but considering the human tendency to go with the flow, it is unthinkable that it will disappear.

The generally accepted trajectory is that, along with blockchain technology, crypto will penetrate into small local communities and communities, causing currency to become increasingly fragmented. Such things might be better described as tokens rather than currencies.

On the other hand, I think that most of the cryptos that are listed on major exchanges will be eliminated. Because there’s no need for that many.

And I personally believe that it is almost certain that all forms of currency, including fiat (so-called money like the US dollar and the Japanese yen), will become digitized.

The Value of Cryptocurrency as an Investment Asset

How much longer will major cryptos, such as Bitcoin, retain their value as investment assets? Will it be treated as an investment target forever, like a digital version of gold?

Personally, I imagine a future where crypto remains as an investment asset in the long term and that’s why I buy it. However, of course, it might not turn out that way, and the situation may be completely different from now.

For example, Worldcoin (WLD), a crypto with a slightly different sense of scale from before, was listed on various exchanges this month (July 2023), and the crypto asset market seems to be moving steadily. However, as to whether the appeal as a speculative or investment destination is increasing, one could say both Yes and No.

In terms of the early demand period that existed when it was called virtual currency around 2016-2017, it’s No because that time has long passed (in other words, the prime speculation period is over). But, considering the legal regulations around cryptos like BTC and general recognition, it’s Yes in the sense that one can invest with much more confidence than a few years ago… still, the number of investors who consider crypto a safe investment option is likely to be very few.

What about Worldcoin (WLD)?

I first learned about the Worldcoin project a few years ago. I believe its concept was something like a global version of basic income.

I recently learned that Sam Altman of OpenAI is one of the developers. He is a truly global-minded person, and he is just amazing. If Elon Musk is a hard-charging entrepreneur, then Altman feels more like the flexible type. Of course, I’ve never met him and know almost nothing about him, but I still have a good impression of him based on the information I’ve heard.

In any case, I don’t think the concept of Worldcoin fits with the traditional concept of crypto, that is, the decentralization of currency. Even so, I feel something warm about it, like it’s “for people all over the world…” It’s probably an attempt that can be made because it’s a new way of using crypto, or an international tool like a crypto asset. However, it feels like no one has tried it because the scale is too grand.

I bought Worldcoin (WLD) right away

Since it was listed on Binance, I immediately bought a little bit of Worldcoin. By the way, the abbreviation for Worldcoin is “WLD”. As of July 26, 2023, about 1WLD was approximately $2.30.

Here’s how the price has moved in about a week from the ICO to now

By the way, I’m writing “WLD” over and over again in this article because there are several coins that could be confusing, like “WDC”. Just to be safe.

Worldcoin (WLD) logo

So, I bought some and did some research, and considering the nature of the project, it doesn’t seem like it’ll be a speculative target, but I felt it might be interesting as a long-term investment. Of course, this is hopeful speculation since I agree with the concept of the coin.

Besides, with the Orb device, it seems fun to be able to scan your eyeballs to prove you’re a human, not an AI, and receive coins.

By the way, here’s the Worldcoin (WLD) whitepaper: https://whitepaper.worldcoin.org/

… Jack Dorsey, the founder of Twitter, apparently tweeted against it saying not to steal eye information, but personally, I’m not particularly concerned about privacy issues, so if the Orb comes nearby, I’d like to get a World ID.

By the way, Worldcoin is based in the United States and Germany, and it seems to comply with the EU’s stringent General Data Protection Regulation (GDPR), so I honestly wonder what all the people fussing about “privacy issues…” are so concerned about.

… I should stop here, or it’ll seem like I’m promoting the coin. Needless to say, I’m not suggesting that anyone should hold WLD at all, and I’m actually wondering how it would fare as an investment target in the general sense (unless you agree with its principles). If you say it’s a token that a single company can manipulate as much as they want, that’s the end of the story.

But it’s still amazing that we’re seriously discussing issuing IDs to humans because we may not be able to distinguish between humans and AI. I never thought the day would come so soon. It feels incredible these days, as things I’ve seen in science fiction movies are steadily becoming a reality.