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Blockchain bubble

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Blockchain bubble

Post by anonymous19 on Fri Apr 21, 2017 2:40 pm

Back in 2014, Felix Salmon, a financial journalist, and a high-profile Bitcoin skeptic made a bet on NPR's "Planet Money" that bitcoin was a bubble that would burst. It hasn't popped yet, but it also hasn't become commonplace. According to the 2015 Survey of Consumer Payment Choice by the Federal Reserve of Boston, less than half of Americans had heard of any form of virtual currency. (Here's more from the Boston Fed on awareness of virtual currencies.)

Still, even if Bitcoin fails, it's the underlying technology, revolutionary blockchain that could be resilient and revolutionary.

But how revolutionary is the question? Earth-shattering or just merely important.

"The Bitcoin client is about 30,000 lines of code," Emin Gün Sirer, a professor at Cornell University, said at the MIT Tech Review conference. And he points out that in general code is "buggy."

Gün Sirer has been researching ways in which the blockchain can fail. And while he believes blockchains "offer a completely different way of looking at the world and completely transforming it," he's also concerned some of the million-dollar VC funding is hype.

To get the whole idea of funding in blockchain domain, click here

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