The reason people are excited about bitcoin has less to do with bitcoin and more to do with the technology that supports it. That technology is called "blockchain." Essentially, blockchain creates a new type of internet. Bitcoin is just the first application on top of the blockchain.
To look at the failure of bitcoin, and say that it was just a fad, according to Rosenberg, is to look at early web products that were bad and say, "Well, looks like the internet isn't going to work!"
I just wish others can see this and past the current price and it's true value lying in the future potential of the blockchain.
There’s no reason to mourn the fall of bitcoin prices. Anyone who is crying over bitcoin’s recent face-plant – losing one-third of its value in two days – must be a speculator. Gambling is gambling – sorry pal. If you’re celebrating the price drop because of schadenfreude, or just straight-up skepticism about the cryptocurrency itself, you’re missing the point, too.
The nosediving price of bitcoin matters in the short term because rattled confidence hurts any currency, especially a relative newborn that is only used to grease a tiny sliver of global commerce.
In the long run, however, the price swings won’t matter.
I agree and hope they're right, though I don't like their speculation that
The currency called bitcoin itself may not even matter, though I guess they could be right.
The reason people are excited about bitcoin has less to do with bitcoin and more to do with the technology that supports it. That technology is called "blockchain." Essentially, blockchain creates a new type of internet.
*bashes head against desk repeatedly*
I think what they should have said was a new type of
network.
