3 ms·
The real issue with blockchain is it doesn’t work yet. It doesn’t scale, and complex trustless scalable guarantees aren’t possible yet. The technology is also r
by corporateslave5 7y ago
The real issue with blockchain is it doesn’t work yet. It doesn’t scale, and complex trustless scalable guarantees aren’t possible yet. The technology is also really new. Bitcoin coin is only ten years old.
- api 7y agoI think there's some validity to that view. The Internet was actually 30 years old when it went public. I find it hard to believe though that VCs are playing that long a game. That's way too long a time horizon for any conventional VC investment.
- xkjkls 7y agoThe iPhone is also 10 years old. It changed the world and has been the most profitable product in human history. What is Bitcoin's excuse?
- pedalpete 7y agoA few problems I see with your argument. 1) The iPhone wasn't the start of the curve. It was building on the history of mobile phones, PDAs, WAP/mobile internet, portable music players, etc. It was a convergent device which brought together all of these other things, many of which had been successful in their own right. But you couldn't make the same argument about the Newton, or PalmPilot, could you? 2) iPhone is a product, Blockchain/Bitcoin is a network and protocol. Networks need mass adoption to be successful. You only needed one iPhone for it to be useful. Protocols are infrastructure to be built on top of. The iPhone didn't release with Apps (as we know them today) and could have still been successful without them. I'm not saying Bitcoin will be a success, and what would it be a success at is still the open question. But you can't put it in the same bucket as the iPhone.