Introduction to Jason
Jason is a cryptocurrency analyst, writer, editor, and podcast with BCCN3 Media. A former web developer, Jason saw the power of decentralization and the potential for blockchain technology to revolutionize industries.
In 2021 he started investing in some altcoins and writing about the crypto markets. He started his newsletter, Foretoken, along with his podcast of the same name. Soon after, he was contracted with BCCN3 Media to write articles about crypto and host their podcast, BCCN3 Talk. One of his goals is to become a public speaker at crypto events.
He attended this year’s Bitcoin Amsterdam as a media correspondent where he interviewed several founders and industry experts. He will be attending this year’s Dcentralcon Miami. He lives in Austin, Texas, where he enjoys competitive rowing.
How did you get started with cryptocurrencies?
I have always been interested in finance; I have been reading the Wall Street Journal since I was 14 years old. When I first became aware of cryptocurrencies, I was skeptical of their true value.
During 2020, however, I remember seeing bitcoin rise to $6,000 and I thought to myself, ‘many other people know something that I don’t.’ From there I began learning about bitcoin and the cryptocurrency markets.
When the U.S. government printed 40% of all dollars in circulation in 2020 alone I knew that spelled inflation. With bitcoin’s price rising rapidly I knew that I had to learn more about crypto. By 2021 I started actively investing.
What is the mission of your newsletter Foretoken?
The Foretoken newsletter covers crypto coins by industry. I find global economics fascinating and to see how web3 will revolutionize industries is exciting to watch and write about. I include my own chart analysis of various coins which can indicate the success of various crypto projects in different industries – from agriculture to shipping and beyond.
I chose the name ‘foretoken’ as a play on words. A foretoken is an omen that foreshadows something to come – in this case, the tokenization of industries. So, in Foretoken I write about the forthcoming tokenization of industries, services, and products.
What do you think about the current state of the crypto markets?
I believe the crypto markets are really holding quite steady in their own right, despite being the most volatile market of all. Crypto is still in its nascent stage and as such, there is a lack of knowledge about it in the general population. That is true of any new market product.
One also has to account for who else is in the market with them when developing their investment strategy. Because of the transparent nature of blockchain, we can see external transactions through public wallets.
There are a lot of small retail investors who are excitable early adopters and there are institutional investors who treat crypto as though it were a tech stock. Both of these approaches are wrong. That has a lot to do with crypto’s mercurial nature right now.
Nevertheless, crypto is in no way being abandoned by the market, despite what many critics have been saying; quite the opposite, in fact. Bitcoin maximalism appears to be waning, and that is a good thing; it means the market wants what it always wants, competition from multiple options.
This year we have seen Layer 2 blockchains like Polygon being adopted by the likes of the NFL, Adidas, Adobe, and several other brand names.
It’s important to consider the alternative as well when analyzing the markets. When we look at the alternative – fiat – we can see, for example, that the pound sterling is now as volatile as bitcoin. That speaks worse about fiat currency than it does about bitcoin.
My approach to investing has always been to play the long game. I’ve done this in real estate and stocks in years past and it has always paid off. My approach to crypto is no different.
What are some of your favorite sources to get information about the crypto market?
I only have a select handful of sources that I like to read the news headlines from CryptoSlate, CoinTelegraph, and the like. CryptoSlate has a section that breaks down coins by industry sector which I use to write Foretoken.
I find the analysis from people like Dylan LeClaire and Will Clemente is always useful, even when I think they are wrong because it makes me think through my own understanding. I listen to podcasts as well such as Bankless and the Pomp Podcast.
I am fastidious about what sources I use based on a good quality UX; I don’t like websites with a lot of different activities on the homepage. For technical analysis, I like TradingView because I think they have the cleanest UX.
Where do you think the crypto market will be in 5 years from now?
I think it will be significantly more valuable than it is today but not as wildly high-priced as many claims. That’s because so much of crypto’s value is based on market adoption of the different web3 tools and platforms that will be adopted by the market.
98% of coins are worthless. Yes, there will be a moonshot from the back benches here or there, but I personally like coins with the broadest market application.
This is commensurate with where Google or Amazon was around 1998. One was a search engine, the other an online bookstore. Now, look at how many products and services and products they offer: Now Google has Gmail, Google Maps, YouTube, etc. Amazon dominates the eCommerce market and powers countless websites and tools with AWS.
So, being on the ground floor of web3, as Google and Amazon were on the ground floor of web2, is a strong indicator of where certain coins could go in the years ahead. As web3 is seen to be less of a fad and understood to offer more practical utility-based services, the market value of solid cryptocurrencies will rise in tandem.
With that being said I layer 2 blockchains that are being adopted in the markets. I think they have the greatest potential as long as they keep their ambitious roadmaps realistic and harbour competent teams who can execute those roadmaps.
As for bitcoin, it will continue to rise in value, if for no other reason than its scarcity. As with altcoins, it will have to be better incorporated into the marketplace, to become more accessible to the average consumer. Transaction times need to be dramatically reduced in order to make it more practical. Nonetheless, Millennials and Gen-Z understand that bitcoin is their generation’s social security.