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

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


Bitcoin Video Crash Course 

Dummy-proof explainer videos enjoyed by over 100,000 students. One email a day for 7 days, short and educational, guaranteed.

We hate spam as much as you do. You can unsubscribe with one click.

Leave a Reply

Notify of