Is Bitcoin, digital currencies and blockchain a bubble?
It’s long time ago when I started studying markets, marketing and economics. Recently I came across Blockchain. I heared about it in the past, but I discarded it becouse i found too difficult starting with wallets and tokens (silly me!).
Now that I have deep understood all the blockchain ecosystem I discover that what’s happening now with bitcoin and altcoins is very different.
When you trade or neter deeply in the understanding of market and marketing mechanisms, often it seems that everything in the markets is a bubble, and very often it is, but what’s happening with Bitcoin, Alt and cryptos in general, is very different.
Why?
Because behind all this stuff there’s a lot of people very well prepared and thay are all fellow that really believe that they can really change the world.
And maybe they will do it, because blockchain tecnology is going to be applicated to every single piece of our society, from cities to space crafts. Who tink that all this stuff is temporary, is wrong.
This is the engine that move all this stuff, the people, the devs, the investors, the evangelists, all of them believeing in the same idea, maybe someone in his own way, but in general they are very well prepared and speak a language that normal people can’t understand.
They speak “code”.
They understand the language of the machines and this is the most terrifing threaten for everybody who’s looking at bitcoin from the outside.
Our world is destinated to evolve to something new and it will change rapidely from a state to another and all this will happen thanks to technocrats.
Tecnocrats are going to be the elite that manage the system, the society and many other components of the world that we don’t already know, because they don’t already exist.
The digital wolrd is going to be leader for every single sector of the society.
During last decads in the organizations or in the enterprises people were just a number, a person with a function that could be more or less articulated depending of the size of the company. But today many of these companies have changed.
In this sector, big companies simply buy talents and knowledges, medium companies try to innovate or being scalable, small companies try to distrupt.
The key factor today is that we are smarter and we collaborate together, we are quick and changes are so fast that we don’t even recognize them.
So when I read these kind of articles:
https://www.tradingview.com/chart/BTCUSD/5kL1VA2y-BITCOIN-IS-A-BUBBLE/
…is when I understand how many people really know and understand blockchain and bitcoin…very few!
And when I see China go against ICO and crypto exchange is when I see the real power of the tecnology, not of the currency! The currency of course resist, but is because there are thousands of proyects behind it.
Things like these let me understand the deep impact that blockchain tecnology will have on our world.
Blockchain market doesn’t react as normal financial markets, it have some magic addition that we don’t even understand, and of ocrse this magic is the people behind it. Not only traders, that often are young guys with million fortunes or young developers that test this new world for them like testing an app before the lunch.
It is also too evident the blindness of banks and dinosaurs that want to learn how to do it, but thay can’t!
Of course they can buy knowledge and there’s a lot of peole that will sell it to them, but it is not a problem, is part of the process!
It’s not a problem because generally old systems are not fast.
Our system is slow and centralized, and blockchain tecnology is fast and decentralized.
But we have to wait a little bit more, through blockchain we have to develop a better security and a better interface in order to reach the goal, that is getting consensum from a larger number of users.
Blockchain is an industry, there are moments of high production and moments of low demand. At the moment the prototype works, it’s matter to make it secure and scalable, because there are a lot of providers that wanto to be in this industry and they are looking for the right point to start the journey.
Many developers are trying to reach the goal. Ethereum, IOTA, Nem, Waves, Digibyte and many more are trying to transform the tecnology rewriting the code, giving better security.
Maybe at the end of the next year we will see a massive acquisition of a similar tecnology differently developed and easily sold to the mass. Hope not through banks, but who cares, because Bitcoin is not a bubble and cryptocurrencies are going to be the first revolution of the dinasty of the Tecnocrats.
My original post on steemit: https://steemit.com/blockchain/@digitalmutant/is-bitcoin-digital-currencies-and-blockchain-a-bubble
