> Bitcoin is a poor currency and a crazy investment -- but the technology behind it is a real breakthrough.
I feel like that should be the other way around. When all the "blockchain startups" and ICOs blow up, Bitcoin will be left standing. The true innovation behind the "blockchain" was its decentralised consensus mechanism. That mechanism is only secure as long as no single entity controls over 50% of the hash rate. Some of the largest Bitcoin miners have so much hash rate today that they could attack any (SHA-256 based) blockchain but the Bitcoin one.
"The Internet is a poor network and a crazy investment -- but TCP/IP is a real breakthrough."... Sure!
I feel like that should be the other way around. When all the "blockchain startups" and ICOs blow up, Bitcoin will be left standing. The true innovation behind the "blockchain" was its decentralised consensus mechanism. That mechanism is only secure as long as no single entity controls over 50% of the hash rate. Some of the largest Bitcoin miners have so much hash rate today that they could attack any (SHA-256 based) blockchain but the Bitcoin one.
"The Internet is a poor network and a crazy investment -- but TCP/IP is a real breakthrough."... Sure!