Okay let’s be honest here. If I had to estimate how many people truly understand the
beauty of blockchain technology and cryptocurrency, I’d have to say that around 15% of the members within the digital asset space can comprehend a fraction of the revolution. In an analysis done by Sinclair Davidson, Jason Potts, and Primavera De Filippi, they highlight that blockchain technology in itself is a revolutionary technology in that “it undermines the strong case fo the economic efficiency of hierarchies (which exploits incomplete contracts) and relational contracting (which requires trust between parties) over markets. To the extent that blockchains can eliminate opportunism, they will be at a competitive advantage of traditional organizational hierarchies and relational contracts” (Davidson et al. 16). In fact, instead of looking at blockchain as a new form of general purpose technology, such as transistors, computers, internets, the authors argue that it...
by Lewis Park
All research was acquired by Wolfie Zhao’s segment in TheBlock
We all know that Bitcoin will be around for a long time. At least, for those of us who truly believe in the technology that powers Bitcoin, we know that Bitcoin is fundamentally bullish and has been the first innovative piece of finance since the creation of the first documented ledger system in the form of double-entry bookkeeping created by the Jewish community in Roman civilization. Bitcoin’s characteristics of being censorship resistance, deflationary, limited in supply, decentralized, etc., are all factors that would enable it to be the native internet token that the world desperately needs to help even the playing field for the little guys. In fact, Bitcoin has always championed equality, and it is a no brainer for people to support its success throughout the known world.
Then there’s China.
Recently, China has cracked down on Bitcoin mining, an...