Denial Phase of Crypto

March 15th, 2018

I heard about Bitcoin and started accepting donations for some of my projects sometimes around 2011. The page about PokerMuck still reports the 0.53 BTC that were raised to support it (a little less than $30 dollars at the time). I mined about another 0.5 BTC during that time, which I all lost in the Mt.Gox hack.

In hindsight it’s been amazing to witness the life of cryptocurrencies. I wasn’t old enough to remember the craze of the dotcom era, but the cryptos, I got to see them as an adult.

I never converted any of my fiat currency for cryptos. The more I read the details of the tech, which I still don’t fully understand, the more I came to conclude that most of its hype was due to the massive speculation returns┬árather than technical merits. In hindsight I probably should have ignored such rational thoughts.

But this is not the point of today’s post.

The denial phase of crypto seems to have started. Which does not mark the end of blockchain, hashgraph, or whatever is coming out to replace it these days. Quite the opposite. It marks the beginning of the removal of the junk and the useless techs built around it. It marks the beginning for a period of opportunity for ventures that bring real value to the table.

It’s going to be a slaughter. But the survivors will rebuild and a new wave of sound innovation will come to life.

Such exciting times.

 

Wonder if/when Devil Takes The Hindmost will be updated to include cryptos.


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