Cryptocurrency has always faced a problem, whether it was Litecoin or Dash or Bitcoin. The problem is its independent status towards almost anything else going on economically and currency-wise. The cryptocurrency system, in whatever form, is not the dollar. Yes, many people refer to the valuation of Bitcoin in regards to its dollar value, and that has become useful. But, it only affirms that Bitcoin has a value because it can be transferred to the dollar for this amount. What about its own independent value? Many argue that this isn’t necessary or even useful to growing Bitcoin, and it is a fair argument. It is also an argument that the Sovereign Hero hopes to take on.
What is the Sovereign Hero?
The Sovereign Hero comes into play as an answer to the failed longevity of any cryptocurrency. It is a manifestation of Dreamcoin or BitShare. The basic idea is that the coin is tied to the American dollar with an additional 5% added on top of the value. It is crafted to appreciate by 5% every year based on the value of the dollar. It is a secure purchase. It flies in the face of how cryptocurrency is generally perceived. Even the biggest supporters admit that there is a public problem with the system, and the perception has hurt its legs. Just consider the huge growth and the falling of Bitcoin. It isn’t stable. It fights against any mainstream understanding of a safe investment.
The Sovereign Hero is capable of fighting against the declining dollar and that is huge. It is also the answer to mainstream success because it ties directly with the dollar. Some people in the community hate it, and for a fair reason. How can cryptocurrency gain any legitimate identity in the economy when its only real value is based on what the dollar is doing?
The Mainstream Circle
The unfortunate and peculiar reality is that all this competition and development pales in the mainstream. The short answer to who “succeeds” is no one because the mainstream is failing to grab onto any one area with enough long-term commitment. There is intrigue and mystery, but no one entity has risen to the occasion for anything more than a few months.
Of course, this may be all fine and well depending on how one measures success. But, it certainly hits against many Bitcoin operators main goal of “breaking the bank,” so to speak- of touching into stratospheric levels of consumer ubiquity. Bitcoin has no succeeded, but no cryptocurrency has yet. It begs the question of what innovation, if any, is going to make a mainstream impact. Cryptocurrency is dense and hard to comprehend. It was never a mainstream delight in the first place just like computer coding or taking apart hardware will not be. It is simply too difficult. But, that does not mean the mainstream will never embrace it. This is largely the goal of the Sovereign Hero- to be the one cryptocurrency exchange that explodes in the mainstream and elevates everything to the next level.
The following video is a presentation by Stan Larimer and Michael Taggert at a conference in Los Angeles, California. It explains the concept of BitShares (created by Stan’s son, Dan Larimer), and the Market Hero coin, as well as the Billion Dollar Challenge.