The Blockchain Is the New Google

Bit of a silly title but it's chronologically close. Blockchains are the new dot-com bubble.

Yes they're useful in some scenarios but there's a massive leap between a decentralised transaction accounting system (what it literally is) and what it could be. And it does work well as a low volume currency. 250K transactions a day at the moment for Bitcoin. VISA did that while I was writing this comment.

Articles like this seem to think that people's appetite for decentralisation is limitless but frankly, I like that I have a bank and solicitors responsible and insured for the processing of certain transactions.

The investory sorts of people who write articles like this hark on and on about the possibilities. Rather than talking, they should be building. Stop hyping this crap up and build something with your own money.

And that's why I compare it to the dot-com bubble. The more I read stuff like this from investors, the more I think this is pump-n-dump. They bought a load of Bitcoin when it was fashionable, it plummeted and now they're trying to put it centre stage again.

Google built something. Again and again. "The blockchain" is nothing like Google.

So just remember the 90s kids. This much "it can do everything" hype with only a low volume currency or two to show for it... It's an unhealthy mix. Buy some gold. It'll last longer.