Hatch Weekly: Facebucks, the new must-have currency

Celebrities and cryptocurrency (it's a thing)

Celebrities will endorse anything if there’s a payday promise (we’re looking at you Fyre Festival), but the celeb endorsements of Bitcoin seem to be legit. Let’s see who’s putting their brand where the Bitcoin is.

Actors ain’t acting

If you can forgive him for his magnum opus, “Dude Where’s My Car?”, Ashton Kutcher has a talent for investment, even founding his own tech investing venture capital in 2015. His firm has made several investments in popular companies like Uber, Airbnb, and Spotify and cryptocurrency firms including Ripple and Bitpay. Other notable actors who have invested in Bitcoin are Gwyneth Paltrow, Roseanne Barr, and Jamie Foxx.

Rappers luv it

In 2013, Donald Glover, better known as Childish Gambino, championed Bitcoin in an interview with Time magazine. Glover isn’t the only rapper endorsing crypto. Wu-tang clan member Ghostface Killah, invested ina network of crypto ATMs. The Game promoted the Paragon ICO, and hip hop legend Nas launched his own venture capital back in 2014 known as QueensBridge Venture Partners investing in Bitfury, Robinhood, and, Coinbase. And while we’re talking rappers and Bitcoin, we’d like to let the cat out of the bag with the urban legend surrounding 50 Cent: 50 Cent admitted that he did not, in fact, make $8 million in bitcoin by accepting the cryptocurrency as a form of payment for his album Animal Ambition back in 2014. So there.

Would you let Serena Williams invest your monies?

The famed tennis superstar just turned into a crypto venture capitalist. Williams recently revealed that she has launched her own investment firm, Serena Ventures, that invests in over 30 companies including Coinbase. Surprised? Don’t be. Her husband is the co-founder of Reddit, Alexis Ohanian, who also founded his own VC firm Initialized Capital, a prominent investor in Coinbase and other cryptocurrency related start-ups. What do we make of these celebrity investments? If played right, celebrity involvement can be beneficial, but do your own research before you go investing like your idols (that said, if Beyonce does a coin – BeyCoin – we’re in).

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SpaceX gets real with satellite launch

Last Thursday, SpaceX successfully launched a batch of 60 satellites from Cape Canaveral Air Force Station in Florida. It was the third attempt, after two earlier postponements last week. Pour the Cristal, Elon.

Starlink, star bright, how many satellites will I see tonight?

Musk’s SpaceX kick-started its ambitious internet-from-space initiative known as Starlink which aims to provide the earth with affordable internet. One of SpaceX’s most formidable projects, Starlink will put a total of 12,000 satellites in orbit, providing internet connectivity to up to a million user terminals here on the ground. What’s the big deal? This inaugural launch gets the ball rolling and will help SpaceX learn just what it takes to operate a large group of vehicles in space.

Kiss lag goodbye

Not only will this satellite party aim to provide cheaper internet, but will shorten lag times, something that current internet-beaming satellites can’t accomplish. Most satellites that provide internet coverage from space are in much higher orbits, and it takes a long time to get their data as signals have to travel thousands of miles through space and back. SpaceX will operate in much lower orbits solving lag issues at an internet cafe near you. Currently, there are 2,000 functioning satellites in space, which leads aerospace experts to monitor the increasing traffic jams in our skies. Perhaps a small price to pay to give people all around the world connectivity.

Facebucks: social media’s crypto

Facebook (FB) is launching cryptocurrency “GlobalCoin” in 2020 that will be rolled out in up to a dozen countries. Facebook will enable their 2.4 billion monthly users to change dollars and other international currencies into its digital coins. The coins can be used to buy things online at select shops or to transfer money without needing a bank account.

Zuck on the hustle

Zuckerberg has been in talks with money transfer firms, including Western Union, the US Treasury and the Bank of England to discuss developing cheaper and safer ways for people to send and receive money.The secretive initiative has been code-named “Project Libra”, and when rolled out, pundits are speculating the cryptocurrency could add as much as $US19 billion in additional revenue by 2021.

Crypto surges once again

Reports of the Facebook coin lifted cryptocurrencies last Friday. Bitcoin climbed 5% to around $US7,960, while Ethereum and Bitcoin Cash jumped about 7% and Litecoin surged 11%.
Facebuck’s digital currency (see what we did there) intends to provide an affordable way to make payments, but what about safety? Facebook has come under fire in recent years over its handling of users' personal data, and we have no doubt regulators will be watching closely.

Other interesting stuff

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