The last 24 hours have been another wild ride in the #crypto world. We have seen FIVE different 30% corrections in Bitcoin in the last year. For some, it was panic, for others…buying opportunities.
I flew to Boston today and was able to read through a bunch of these posts on the flight. Then I got to this NYT article. Probably one of the best written, clearest and more technically accurate but consumable-by-a-layperson pieces on Crypto I’ve read in a long time. Its a long read. Go get a cup of coffee…but worth every word.
But in a way, the Bitcoin bubble may ultimately turn out to be a distraction from the true significance of the #blockchain.
I agree with this and the idea that decentralization and application/data distribution will ultimately become the next wave of the digital age. While the dot com parallels are easy, the fundamental stuff — the protocols, the architecture, and the infrastructure that the distributed apps will live in are being built and just like the dot com cycle, what stands when the dust settles and the billions are lost is still profound. The potential impact of the blockchain goes far beyond making some people rich. It can change the leverage points in society and markets. At some point we won’t even talk about it, just like we don’t say “I’m doing mobile or I’m building an app”, its just part of delivering your service/value/thing. Game on.
Just when all of this heady stuff was swirling around in my head and inbox, my work shifted gears to preparing for a board meeting tomorrow, and JUST IN TIME, the Foundry Group dropped their 3rd installment of VC satire, the “Bored Meeting” and it was just what I needed… Jason Mendelson is their Video Director/Partner/Creative director and nailed it, again. Well done guys. Quite the posse…
My meeting tomorrow will be anything but boring however, because the team at GreatHorn are working on some really powerful things in the messaging security space and I’m looking forward to rolling up the sleeves!