For all the bitcoin and cryptocurrency hype online in recent months I’ve just been a somewhat curious observer. I mean I got how blockchains and cryptocurrency work, but I couldn’t see a real use case in my life, though I’d love to (and I’m not a speculative investor).
And then I watched the rapid development of my son’s experimentation with Garlicoin over the last few days. It’s been fascinating!
On Wednesday afternoon I got a snapchat at work from my husband – Alex grinning in front of his computer screen – he had just sold his first batch of Garlicoin and made $20.
Alex had been following some Reddit discussions and started to get interested in cryptocurrency topics and wanted to find a reputable coin to get his feet wet.
Then he found Garlicoin, which was just launched, and which could still be readily mined. Folks were offering garlic bread for Garlicoin. There’s a friendly community around it trading these coins for all kinds of stuff on Reddit. It’s more of a fun coin that gives folks who are interested in cryptocurrency mining an opportunity to get in on action.
This was perfect for him. He had built a computer last year optimized for gaming performance. With his graphics card, he was able to mine a few coins within just a few hours of running. After that first $20, he bought a few digital items, physical souvenirs, and retail gift cards with more Garlicoin. For those of us who may correlate value more with real-world items, check out the Garlicoin items on Etsy. Alex bought a button with his mined Garlicoins as a physical souvenir.
The amazing part was the social and economic trading aspects coming to life quickly with Garlicoin. This is an in-your-face reminder of how, with today’s platforms and social networks, one can make new virtual assets instantly – all you need is to drive a large-enough online community of people who value the assets and are willing to trade for it. Blockchains provide the secure and decentralized accounting, while platforms such as Venmo and Etsy let individuals easily move real money and sell real things.