Regardless of whether the cryptocurrency markets are high or low, people will still buy beer.
According to The Atlantic, the number of breweries in the U.S. brewing industry increased 600% between 2008 and 2016. The cryptocurrency industry did grow from scratch in 2008 with the release of Bitcoin Note under the alias Satoshi Nakamoto. By 2017, thousands of new digital assets in the workplace had hit exchanges. Today, cryptocurrency lives somewhere in the public consciousness between the Bloomberg address and the subculture.
Cryptocurrency is still less than 100% available to the general public, but many adult lawyers understand the beer references. In that spirit, you can enjoy this humorous explanation that crypto is like beer.
Bitcoin (BTC) is Budweiser
A standard American-style beer, Budweiser is an incredibly popular beer available in establishments from East to West and beyond. It doesn’t have all the bells and whistles of modern Indian pale ales or bespoke sour beers, but it can still be drunk as a simple and reliable beverage that many people enjoy.
Bitcoin does the same in the cryptocurrency world. As the first publicly available cryptocurrency, it is not the most innovative and nothing else. But users know what they get by using it – reliability and brand.
Just as the effects of Bitcoin (in terms of a fork) cost a thousand cryptocurrencies, Budweiser’s parent company, Anheuser-Busch, is responsible for many other beers and brands.
Litecoin (LTC) is Bud Light
Bud Light doesn’t claim to be a true Budweiser, but it does take its place as a popular choice. Bud Light is clearly based on the Budweiser effect, but it may serve a different purpose depending on the client.
Litcoin creator Charlie Lee describes LTC in terms of ease of use and collective appeal. At one point, some Litecoin headlines called the metaphorical silver of bitcoin gold.
It’s worth noting that Litcoin confirms transactions faster than Bitcoin.
Ethereum (ETH) is the Belgian White Blue Moon
A common craft beer for beginners, Blue Moon Belgian White undoubtedly has a different flavor palette and is more potent than Budweiser. Let me elaborate on how Ethereum is built on what Bitcoin started.
Blue Moon contains a variety of flavors that go beyond the standard Belgian white label, including Wheat Honey, Harvest Pumpkin Ale, White IPA and more. Ethereum also became the basis for a number of initial blockchain-based coin offerings.
Plus, many beer drinkers don’t really rate Blue Moon as a top tier beer, just as many parties criticize Ethereum for its scalability and performance issues.
Ripples XRP is Goose Island 312 Urban Wheat Ale
A popular option, Goose Island 312, oozes the aroma and sayings of a fairly strong handcrafted beer, although some enthusiasts might not call the 312 a craft beer. Goose Island is owned by major brewing giant Anheuser-Busch and no doubt dismisses it as a craft beer – some say the name is partly different from the brewery’s small production size.
Likewise, many dispute XRP’s link (and their alleged centralized relationship) to tech giant Ripple. XRP is happening fast, but many cryptocurrency enthusiasts are taking advantage of a true cryptocurrency based on the mega-coin collection reported by Ripple. But XRP is still doing well as a method of transferring digital value, and has shown significant price movement to its traders and market participants over the years.
(Yes, Blue Moon is also owned by the large MillerCoors group, but they admit that it will violate this metric!)
Chainlink – American Pale Ale 3 Floyds Brewing Zombie Dust
The zombie dust hype is real.
According to a 2018 ChicagoMag article, “Zombie Dust maintains a level of hype almost unheard of for daily drinkers.” Even in a store in Chicago there was a banner: “It’s been __ hours since we were asked about Zombie Dust. ”
The hype is real because the product is original. Zombie Dust has been rated “world class” by BeerAdvocate.com for its unique flavor and aroma.
Chainlink also showcases a similar horn and bag. This dedicated fanbase is affectionately known on Twitter as the “Link Marines”. The asset is usually well received in the crypto space, and the project aims to solve the infamous “Oracle problem” – the fundamental problem in linking digital assets to real assets.
Whether we’re talking about beer or cryptocurrency, it’s often helpful to go back and see the brighter side of the industries people live in.