It's programmable enough to have bugs, and ephemeral enough to roll back state when things don't work out for the majority [1]
It's like a credit card that you can't claim chargebacks on when you're defrauded, only there's no actual credit card and the PIN is too long to remember.
You can store your PIN on your hard disk like James Howells [2], or store it with a trusted organisation like Mt. Gox [3]
If you want to certify digital ownership, you get to pay money to copy a GIF, rather than just copy the GIF.
It works if you want to certify ownership of physical works of art too, such as the famous Mona Lisa (painted by Terence Eden) [4]
Its value is so stable that you need a separate class of cryptocurrencies which peg themselves to a fiat currency rather than replace it. And their value crashes anyway [5]
And it's become so mainstream that in 10+ years I've yet to walk into a shop that accepts payment in crypto.
But since it's inevitable, there's no need for me to seek it out, we'll all just end up using it.
It's programmable enough to have bugs, and ephemeral enough to roll back state when things don't work out for the majority [1]
It's like a credit card that you can't claim chargebacks on when you're defrauded, only there's no actual credit card and the PIN is too long to remember.
You can store your PIN on your hard disk like James Howells [2], or store it with a trusted organisation like Mt. Gox [3]
If you want to certify digital ownership, you get to pay money to copy a GIF, rather than just copy the GIF.
It works if you want to certify ownership of physical works of art too, such as the famous Mona Lisa (painted by Terence Eden) [4]
Its value is so stable that you need a separate class of cryptocurrencies which peg themselves to a fiat currency rather than replace it. And their value crashes anyway [5]
And it's become so mainstream that in 10+ years I've yet to walk into a shop that accepts payment in crypto.
But since it's inevitable, there's no need for me to seek it out, we'll all just end up using it.
[1] https://www.gemini.com/cryptopedia/the-dao-hack-makerdao
[2] https://en.wikipedia.org/wiki/Bitcoin_buried_in_Newport_land...
[3] https://www.investopedia.com/terms/m/mt-gox.asp
[4] https://shkspr.mobi/blog/2018/06/how-i-became-leonardo-da-vi...
[5] https://www.deltecbank.com/news-and-insights/the-history-of-...