Bitcoin, a Short History

by Chris Black

I am not a  crypto hater, but I am also not a Ponzi fanboy. Here’s the deal:

I was promised six years ago that everything would be blockchained by now.

 My company’s inventory, all my communications. 

My bank was supposed to be rendered irrelevant and I’d be using a decentralized crypto account.

If I closed on a house or bought a car, it was supposed to be all done with smart contracts. 

My babysitter would have a crypto wallet. 

Cryptos were supposed to bigger than the internet or smartphones. They were supposed to be indispensable to daily life. 

In the same time period that Ethereum has been around, the home PC went from a play toy to an indispensable tool for the majority of people.

 The modern internet was birthed with Windows 95, and within five years everything was online. 

We’re at Bitcoin year 13, and it is certainly worth a lot more to people buying it.

 Not because they’ll actually use it for its intended purpose, but because someone convinced them that if they pay dollars for a Bitcoin now, it will be worth more dollars later.

 How many people are buying crypto to use as a transfer mechanism? Probably less than 1%, please prove me wrong.

Cryptos weren’t supposed to be about turning dollars into more dollars, at least that is what the people developing them said. 

But just like every other scam, that is really what it is all about: selling something to someone else for more than you paid, because if you keep it, there is nothing you can do with it. 

If you have no use for something, its real value is Zero.