Thursday, July 14, 2016

It's Not About the Technology, It's About the Money

By Daniel Krawisz
Satoshi Nakamoto Institute
Wednesday, July 13, 2016

http://nakamotoinstitute.org/mempool/its-not-about-the-technology-its-about-the-money/

Blockchain Technology

The Bitcoin world is full of people who know nothing about economics or cryptography; they only know that they could have made millions if they had not sold at the bottom. These people tell themselves that they are redeemable, that Bitcoin is just the MySpace of cryptocurrencies, that they will have another opportunity to get in early on some other revolution. These people can be dangerous, but most of them are easily preyed upon.

I think this may explain the origin of “blockchain technology”. It lets people talk as if clones of Bitcoin are important without having to remind themselves of Bitcoin. If someone says “blockchain technology” to me I give him the benefit of the doubt and write him off as someone who doesn't know what he's talking about. If I find out that he's intelligent, then he's most likely a con artist.1



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