It’s not about the tech (yet?)

This is a price chart for one of the top-25 cryptocurrencies, from Jun 2019 to May 2020:
Screen Shot 2020-05-27 at 3.23.57 PM.png

And here is another coin:
Screen Shot 2020-05-27 at 3.24.54 PM.png

One of them is Iota, which had a technical problem that resulted in no transactions confirming from February 12 until March 10.

The other is Zcash, which had no technical problems.

I can’t tell which is which from looking at how the markets reacted, can you?

That… I just… whaaa????

I like to think that technology matters, and better tech tends to win in the long run. I still mostly believe that, but I have to admit, seeing a cryptocurrency fail to perform its most basic function for a whole month and the markets shrug it off makes me wonder what people are thinking as they speculate on cryptocurrencies.

Probably nobody is thinking, and it is all day traders and bots.


Now read this

One-dollar lulz

A couple of months ago, Paul Sztorc published a blog post asking two very good questions: “Why do you think we have a [maximum] blocksize?” “What has changed, between the time that the [maximum] blocksize was introduced (July 15th,... Continue →