4 ms·
It already burst a couple of times actually. Back with MtGox we had quite the burst and a long period of decline. Or how about the 5 times China forbid Bitcon?
by neals 9y ago
It already burst a couple of times actually. Back with MtGox we had quite the burst and a long period of decline. Or how about the 5 times China forbid Bitcon? Burst after burst.
As with the internet: we continued to built it anyway. Adding value to the network in our own way.
I have not stopped working with Blockchain technology no matter the price. I went from millionaire to nothing back to multi-millionaire and I have just kept on working. And I will keep on working, bubble or no bubble, there's always going to be cryptocurrencies and cryptocurrencies-innovation and work for developers and a nice people and fun projects.
- tmlee 9y agoThe number of bursts can also be summarized from history of heists https://imgur.com/0WDy5Wo https://imgur.com/0WDy5Wo The MtGox magnitude was way way larger than what we have seen so far.
- nnfy 9y agoWhile I suspected the same, after reading the article, the author does not conflate the bursting of the crypto bubble with the price of BTC. After this realization I was able to set aside my indignation and observe that the author makes a good point in that most other Cryptos and "blockchainy" startups are doomed to fail, while BTC as he claims will likely recover (he makes some mention of a v-shaped price trend in BTC when the bubble bursts.
- bsenftner 9y agoAs a developer of these technologies, you're in a completely different situation than the investors. Crypto-technologies have obvious value anywhere privacy is desired, but once productized as a virtual floating asset, the value becomes much harder to quantify, and then the grifters appear. Seems to me incorporating less privacy, a private side-channel for checks and balances of sorts, is something necessary. But I'm not a crypto-technologist, just someone with a graduate economics education, so my impressions may be irrelevant.
- deleted 9y ago[deleted]
- lojack 9y agoPrivacy is actually a common misconception when it comes to cryptocurrency. More currencies, bitcoin included, are actually the opposite of private – every transaction is completely public for everyone to see. There are currencies (i.e. Monero) that aim to add privacy, but by and large it doesn’t exist.