Hello Steemian's !! How are you all ?
Would you like some more Bitcoin reality?
I just learned today that in addition to the Lloyds Banking group banning their customers from purchasing Bitcoin through their accounts last week, Facebook has also issued a ban this week on advertising and promoting cryptocurrencies in posts.
I think the block-chain technology is great - anything that enhances privacy and removes control from banksters has my vote.
I would like to see people stop being part of the thundering herd, though. Stop chasing hype, marketing and belief just out of a fear of missing out.
I would like to see grown ups stop chasing after this shit like schoolchildren in the playground .
Come on people It's on the BBC Now! Block-chain Crypto-currency Bitcoin is a developing technology. It's a real thing it ain't going anywhere. 'It's a bubble' Really?
The correction will come at the point at which there's a collective realization among the get-rich-quick-erati that we are years away from the point at which block-chain is mature enough to deliver real value. Anyone who's tried to build a Dapp will know we're years away from mainstream adoption. When I mean adoption, I mean real-world applications - not using crypto-exchanges to flip tokens like they're Pokemon cards.
Bubbles are a necessary evil. They happen at the beginning of every major innovation cycle . Make no mistake Distributed Ledger Technologies will revolutionize every aspect of our everyday lives - but not today, not tomorrow, and not any time soon.
True innovators know this. They are busing working on building an entirely new distributed decentralised global infrastructure. They are ignoring the token flipping hype and are thinking 5-10 years out. When the down-cycle comes all the speculators will evaporate.
Only the true innovators will remain quietly going about their business; solving big challenges such as scalability, cross-block-chain compatibility, and finding an alternative to the impending ecological disaster that is crypto-mining.
Trade routes, railroads, semi-conductor technology, and fiber optic networks generated vast amounts of economic and social value, and so will the block-chain revolution. In fact it will be the greatest value creator in the history of the world! Today's hype is therefore justified, but it's the misalignment of exceptions that's the problem. This is not financial advice, but just my humble opinion.
