No. of Recommendations: 2
This guy got a lot right about Bitcoin. What he needs do is write addendums about successful coins not built on the Bitcoin blockchain. This board's own BaC (who is meeting me in two hours for lunch downtown Key West) has recently called Bitcoin a dead-end. I understand why. As a digital currency, it sucks.

But, BaC is also a big proponent of Ethereum (as is an old customer at the bars I work) and I'm a big proponent of the Cardano project.

My coin portfolio is published on the Blockchain board. I only own five of possibly 1300 coins listed on coinmarketcap.com. At one point I owned about 10 to 12 coins.

That said, there are coins which have faster transaction times now than Visa's non-blockchain transactions of 70,000 per second.

That the writer made no allusion to this fact shows how by not telling the entire story about the quick uptake in crypto usage from other coins and tokens, he is doing a disservice to any novice reader who happens upon this piece.

Still, he makes some very good points about Bitcoin while ignoring all the other coins and tokens availabe and working on real world solutions for counterfeiting, banking, gaming, transportation, stock purchases, titles for homes and cars, clean government, etc.

It won't be long before you'll be able to aim any smartphone at a computer screen, click on a QR code, and read the history of an item being sold on eBay, including the history of the seller. The same will go with anything sold anywhere on the net or in brick and mortar stores.

There will be no more Western Union moneygrams home. No more fiat currency exchanges at banks. No need for alt coin ATMs. No need for 7 step processes in Champagne Rooms of adult entertainment clubs for cash advances buying a club's old timey tokens. No more parking meters with coins. No more outrageous trading fees on stock exchanges. No need for market makers. No more stock exchanges offering just released IPO shares by middlemen bankers. No need for petro yuan or petro dollars. No need for a costly digitalized system of keeping medical records in the cloud. No more centralized warehouses of servers needed for companies. No worries about a car's scheduled maintenance and whether it ever went through a flood or hurricane. And on and on. Real life applications are being added on a daily basis and in certain cases, certain coins/tokens are filling the need of solutions to Big Problems by completely overturning the applecarts of big businesses which have been around for decades and centuries.

I've written about one of my tokens, VeChain. Just this week, this Chinese based assurer (not insurer) of luxury goods just added a new use: ensuring that digitalized copies of certain books are never tampered with by Big Brother and that 1000 books of a title ordered for a library system are not turned into 1200 books by unscrupulous librarians lending a copied copy to libraries cheating on paying royalties to authors. Before I had seen that story, I introduced it with my thoughts about how VeChain could change the world of music production/royalties/purchase/ownership etc., and do away with piracy of all works of art - including films and TV shows released on Bit Torrent.

That said, if you're a novice, enjoy this article, but know that it leaves out 99.99% of the real story in cryptocurrency/alt coins/blockchain.

I won't call Bitcoin a "dead end" as I know it will always be around, even in archaic clunky form, as a basis for digitalized "gold". Just think of Bitcoin as the first iPhone, the first automobile model, the first computer, the first 28 baud modem.

What's out there in the wings waiting to enter the main stage is mind-boggling stuff. Whole new codes of cryptography which run faster than anything offered now by Big Banking and Credit Card Processors are already available and there are even faster blockchains on the way.

To get there from here, there had to be a Bitcoin release anonymously because the inventor(s) certainly has(had) a price on his head.

Just go back and realize how fast GM bought up entire street car systems acros the USA so as to rip out tracks and make the public roads more conducive for smoother driving and riding of their automobiles. Look at Big Pharma and Big Tobacco's shut down of marijuana research and growth. Look at how Big Oil used its clout to shut down earliest reaearch and development of electric cars.

Crypto is cutting the money lenders and status quo Oligarchs right out of the pictures.

When Jamie Dimon said Bitcoin is a fraud, I knew right then and there I had to get involved more deeply with my crypto research. And I was right.

Lastly, what the author misses in a big way is calling proponents of Bitcoin (and by extension cryptocurrencies/blockchain) Libertarians. I think most of the people I'm meeting in this space on blockchain social media platforms are not Libertarians (although I have met a few of them). I think the closest word I can find is Anarchist, but that's not-entirely right either. What advocates are pushing for overall is a new way to conduct trust in all walks of life. We're talking about a new way for the world to include those who've been left out for eons because of reserve currencies, boycotts of their corrupt governments by corrupt governments, land rights, currencies which don't evaportate or print in Trillion Dollar increments (Zimbabwe) etc. It's like Jesus Christ in size 16 steel toed Doc Martins doing a line of Whizzo, a 100cc injection of Adrenalin mixed with horse growth hormone, and then going after the moneylenders with no holds barred.



https://www.washingtonpost.com/news/wonk/wp/2018/01/08/bitco...

Bitcoin changes prices too quickly to be a currency and processes transactions too slowly to be a payments system, but it is juuust right for teaching libertarians everything they don't know about economics.

Not that they're paying attention.

If you listen to bitcoin's biggest backers, it's supposed to be our gleaming future, one where we can make money just by holding it, move it anywhere in the world for free, and no longer have to depend on banks or governments to do the right thing. If you look at what bitcoin actually does, though, it's more like digitized nostalgia for a pre-modern past where money was discovered rather than printed, economics was a simple subject where markets never failed, and you never had to trust anyone you didn't know. It works, then, the way libertarians think things should—which is to say not at all.
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