Failed experiment or Revolution


Those who have followed the bitcoin project from a relatively early stage, we know that the major developers were always very humble in relation to the potential of bitcoin. Always they took care to remind the community that the bitcoin is an experiment. Like any experiment, it may fail. At a conference in Chile in 2014, Wences Casares, founder of Xapo, said: “The bitcoin is an experiment and may fail. But I think the chances that succeed are greater than the chances of failure. ”

Be the first to a disruptive technology has obvious advantages. But also it has what experts call the curse of strategy first. There were several automakers before Ford and several search engines before Google. The Altair 8080, introduced in 1975, was the first personal computer to a massively affordable price. But users had to put it together themselves. A couple of years later, Jobs and Wozniak launched Apple II, pre-assembled and easy to use. They conquered the market.


The first to arrive commits all beginner mistakes and bears all costs of the evangelization of users. The second is a paved road. It starts later but moving faster. And often he ends up winning the race. If you want to know what to do with bitcoins these days, most people closely linked to the bitcoin ecosystem advice: “Do not bet the bitcoin more than you can afford to lose”.

No doubt that technology blockchain change the world or that are to be eaten cryptocoins the financial industry as we know it. The future of bitcoin is not so clear. Not a problem with the technology, but with the government of Bitcoin Startup. It seems clear that the bitcoin cannot scale with this structure of government. Either change or terminate industry leadership in the hands of a competitor.

I do not be surprised if this happens. Although it would be disappointing Blockchain real innovation is not about technology but about people working in new ways and distributed. If this community p2p must be rescued by a benevolent dictator, then, I think, would be the ultimate failure of the experiment of bitcoin.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *