2018

“Sell all crypto and abandon all blockchain” – Financial Times | $7,322.81

By Alexander Reed

Last Updated: Dec 27, 2024

bitcoin obituary

Blockchain hype is an essential part of the crypto-craze, and its fading is cause to expect the eventual crash.

The reason is a relationship between a beguiling, but wrong, idea about technology, and the value it has injected back into crypto-currencies such as Bitcoin and Ethereum. Break that cycle, and you unspool the loop that’s spun itself into a boom.

It goes something like this:

 Crypto-currency prices attracted attention. Serious people recognised a fad, seeing the inherent and fatal contradiction of something trying to be both a speculative asset and a currency useful for buying wheelbarrows, lattes or running shoes. No-one uses gold bars from the safe for petty cash.
…Blockchain doesn’t even solve most problems of trust. The integrity of data on a public blockchain can be trusted not to change, but that says nothing about whether the data is right in the first place.

Eulogy made by Dan McCrum

Source

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Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Alexander Reed
Alexander Reed
Editor

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including... Read More

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