Doug Hamlin

634 days ago

People feel compelled to make predictions about blockchains. Here’s mine: The current wave of coins will eventually ebb, because it’s a big, inefficient, unholy mess. It’s more ideology than financial instrument, and ideology is rarely a sustainable store of value. Plus, transactions are slow (everyone says they’re fixing that), and you shouldn’t have to use an aluminum smelter’s worth of power to make new currency.
Most things that the blockchain promises to do can be done more easily with other technologies, including good ol’ fiat currency. But I know a mind virus when I see it.

Bitcoin Is Ridiculous. Blockchain Is Dangerous

bloomberg.com

It’s not that I want Bitcoin holders to suffer, really. As a technologist and entrepreneur, I’m sympathetic to and admiring of risk takers. But as a writer, I enjoy the sheer human-condition-revealing sport. I’m happy to watch other people play video games without playing myself.