The Blockchain Is A Solution In Search Of A Problem

It is hard to think of another term that is as hyped right now as “blockchain”. It is a new fad that has taken the financial world by storm. Everyone is talking about blockchain, firms are rushing out press releases announcing their interest and countless new proposals appear every day claiming they will revolutionise pretty much every industry. Even people uninterested in Bitcoin are taking a look at blockchain, in fact because so few people actually use the cryptocurrency to buy anything, the shift has focused instead to the technology aspect of Bitcoin. The situation resembles the Emperor’s New Clothes, with no one wishing to admit they don’t see any use to blockchain for fear of seeming behind with the … Continue reading “The Blockchain Is A Solution In Search Of A Problem”

June 13, 2018EconomicsBad, Bitcoin, Blockchain, Criticism, Crypto, Crypto-currency, Economics, Flawed, IT, Technology, Terrible, Useless Leave a comment

The End Of Bitcoin

For the last two years, I have been following the rocky road of Bitcoin, as it soared on the promise of revolutionary change and collapsed in a fog of fraud and bad economics. After losing almost 85% of its value in the last twelve months, plunging from $1,200 to $200, has bitcoin finally reached the end of the road? Does it have any chance of recovering or is it destined to simply fade away? Now some people claim that the price of bitcoin doesn’t really matter. These people either have no clue what they are talking about or are trying to downplay the damage. The price is extremely important. The reason is simple, bitcoin has no internal economy. For example, … Continue reading “The End Of Bitcoin”

February 5, 2015EconomicsBitcoin, Blockchain, Collapse, Economics, Flaw, Internet, Price, Problem Leave a comment