There’s a difference between crypto-currencies and blockchain. Keeping the two separate is important.
One – the blockchain – is a technology. It may or may not be the next best thing since sliced bread. Mass adoption is not guaranteed and if it is, it will take time. It could follow the path of the internet. Or it could be the next Segway or Betamax or Laserdisc…you get the point. It’s too early to tell but that’s what makes it interesting.
The other – the coins – is a means of exchange. The coins may or may not be a necessary part of the technology (companies are using the blockchain without the coins).
Until that’s settled, it’s being used to gamble and speculate in. People see the prices going up really fast, see other people making a killing, get caught up in the enthusiasm, and “invest” because they want to get theirs. They’re not doing research, don’t understand the technology behind it, or why a certain coin was created. They hear about a new coin offering and buy it at X, hoping to sell it later for 20X or 100X. But this only works if prices always rise (they don’t). Continue Reading…
