Bitcoin is cheap and easy to use. But it has a long way to go before becoming widely accepted.
READ MOREBlockchain technology could be as big as they say. The particular assets and governance models behind them are subject to the market test, both in terms of the price and their ultimate viability.
READ MOREThe fact that about half of altcoins failed or came close to doing so over five years is a promising sign for that market, rather than an indictment of anything not named Bitcoin.
READ MOREWe love to prognosticate, but it’s impossible to do so without severely glossing over the complexities of the real world. That leads us to false dichotomies, like “Blockchain technology will change everything” versus “Blockchain is all hype.”
READ MOREIt is the great presumption of public policy that some people with power, resources, and status can know what is true, and therefore what must be better. This is in contrast to the lowly actors in the marketplace who must deal daily with the problem of not knowing. To navigate life, to find profitable investment opportunities, to discover what it is that society needs now and what can wait, is the great challenge of material life. But the state takes a different route. It declares what is true, attempts to freeze the process of life, and then impose it as a matter of law.
READ MOREDividing the world into “centralized” and “decentralized” obscures important features of the bitcoin protocol. A more sophisticated lexicon would leave scope for “distributed” processes.
READ MOREVenezuela recently launched its own cryptocurrency. If recent history is any indicator, investors should steer clear.
READ MOREThe fact that Anderson’s theory of money seems to fail the Bitcoin test forces us to question our long tradition of issuing new coins that contain precious metals, or banknotes redeemable for some other, already valuable instrument.
READ MOREMany people who are bullish on blockchain make grandiose claims that the technology will completely overhaul industries and institutions. But these claims often ignore the complexity of the real world and misunderstand what revolutionary technologies actually do.
READ MOREThere will be another winter. And another. To get the best sense of the potential here, it’s best to look at the price, not day to day, but on a logarithmic scale. Here is where we can see the potential of the technology. That has a much more meaningful significance than the fickle judgments of seasonal news hounds that make the difference on the daily margin.
READ MOREBy focusing almost exclusively on disruption, blockchain proponents can ignore the important role of adoption by existing players in finance and other industries.
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