Earlier this week, Bitcoin took a huge dive. I don’t know if it’s they will come back or not, but I just learned Bitcoin isn’t the only alternative currency.
There is a Native American Tribe called Lakota that has their own currency called Maza Coin. Native American community leader Payu Harris was at a Bitcoin conference earlier this week to promote Maza Coin. Harris sold it for a dime a piece. Maza Coin is a new crytocurrency that works like Bitcoin, the currency that approximates Internet cash. The Lakota tribes make around $220 million through Prairie Wind casino, but around a fourth of that stays in the community. With this coin, Harris hopes to build a currency that will better support the Lakota community.
He knows the government will fight him on this, and they kind of have. The US Treasury Dept. have proclaimed Maza Coin legal. However, issues have been raised about bookkeeping and how the monies are changing hands. Of course, some politicians want Maza Coin banned altogether. But Maza Coin isn’t the only Bitcoin spinoff. There have been several within the last 5 years. I think this kind of currency could be the wave of the future. Many people know the US dollar is in decline. Many people know other world currencies are in decline. I think Payu Harris has the right idea: invest in an alternative coin, and rally the community to do the same. Expect more Payu Harris’ in the future. By the way my cynical intuition is kicking in: Who really caused that Bitcoin fiasco to start with?