
Did the Cryptocurrency Revolution Fail? - vinnyglennon
https://hackernoon.com/did-the-cryptocurrency-revolution-fail-988bf9b2fc90
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75dvtwin
many experimental sciences took, slightly, wrong turns as well early
on(chemistry).

The failure of most of todays cryptocurrencies is that they have become
investment vehicles. They are trying to compete with gold on one side (because
of limited supply), and financial derivatives on another side (because they
are hard to track). Crypto coins become a 'brief-case' of clandestine global
wealth movement (just like many of financial. instruments )

It is hard to say if those were the objectives of Bitcoin creator. I
personally doubt it, but lacking any statements from him, I can only guess.

There are positive things too, of course. There are new coins that come with
well thought out economic envelope model, and some technical innovation that
protects them from being gobbled up by hardware-heavy-miners, or drown under
its own weight of record keeping.

Notion of tamper proof record keeping, without the need of centralized
clearing centers -- that's another useful buzz on the fore forefront of
business community.

Clear displeasure with US controlling world policy, through its banking
system. Due to US dollar being peg currency of the world (so that anything
tradable has to be convertible easily to us dollar). Not sure if this
displeasure is overall good or bad. But it definitely makes life in US and
anybody who gets paid in dollar -- much much easier, than in the rest of the
world.

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bitxbitxbitcoin
No, the cryptocurrency revolution didn't fail. Non speculation uses have been
steadily chugging along (to much less fanfare)[1].

[1] [https://www.reuters.com/article/us-crypto-
currencies/daily-b...](https://www.reuters.com/article/us-crypto-
currencies/daily-bitcoin-transactions-on-darknet-markets-doubled-
throughout-2018-report-idUSKCN1PC1OE)

