Bitcoin Is Ridiculous. Blockchain Is Dangerous: Paul Ford - Bloomberg


182 bookmarks. First posted by cronco march 2018.


Bitcoin Is Ridiculous. Blockchain Is Dangerous: Paul Ford - Bloomberg
from twitter
may 2018 by gluca
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
may 2018 by junesix
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
may 2018 by sgerhard
> Watching the world of initial coin offerings over the past few years has been like watching popcorn pop. Everything rattled around in the hot air for what seemed like forever and then pop! Mastercoin! Ethereum! Bancor! Tezos! Then other kernels started popping, and now we’re eating popcorn for breakfast, lunch, and dinner.
re-read  bitcoin 
april 2018 by arnalyse
Bitcoin Is Ridiculous. Blockchain Is Dangerous
from twitter
april 2018 by dlackty
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
april 2018 by johnrclark
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
april 2018 by daviddemaree
The true believers won’t stop until they’ve remade the world. Some of it will be thrilling. Some of it will keep us up at night.

[...]

What Silicon Valley loves most isn’t the products, or the platforms underneath them, but markets. “Figure out the business model later” was the call of the early commercial internet. The way you monetize vast swaths of humanity is by creating products that people use a lot—perhaps a search engine such as Google or a social network like Facebook. You build big transactional web platforms beneath them that provide amazing things, like search results or news feeds ranked by relevance, and then beneath all that you build marketplaces for advertising—a true moneymaking machine. If you happen to create an honest-to-god marketplace, you can get unbelievably rich.
capitalism  tech  money 
april 2018 by matthewmcvickar
The true believers won’t stop until they’ve remade the world. Some of it will be thrilling. Some of it will keep us up at night.
crypto-currency  biz 
april 2018 by meeb
via Phil Gyford (everything) http://www.gyford.com
feedly 
april 2018 by todrobbins
On Bitcoin and the dot-com book and bust.
paulford  bitcoin  bloomberg 
april 2018 by philgyford
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by jdelStrother
It’s not that I want Bitcoin holders to suffer, really. As a technologist and entrepreneur, I’m sympathetic to and admiring of risk takers. But as a writer, I enjoy the sheer human-condition-revealing sport. I’m happy to watch other people play video games without playing myself. via Pocket
IFTTT  Pocket 
march 2018 by keithprime
I’m jealous that they’ll experience it all: the crash, the rejection, and then the slow rebuild as they learn the difference between toys and tools.
march 2018 by soobrosa
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by nsfmc
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet.
march 2018 by psybertron
It’s not that I want Bitcoin holders to suffer, really. As a technologist and entrepreneur, I’m sympathetic to and admiring of risk takers. But as a writer, I enjoy the sheer human-condition-revealing sport. I’m happy to watch other people play video games without playing myself. via Pocket
march 2018 by tonyhue
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by timwburch
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by artblanc
Here’s what I finally figured out, 25 years in: What Silicon Valley loves most isn’t the products, or the platforms underneath them, but markets. “Figure out the business model later” was the call of the early commercial internet. The way you monetize vast swaths of humanity is by creating products that people use a lot—perhaps a search engine such as Google or a social network like Facebook. You build big transactional web platforms beneath them that provide amazing things, like search results or news feeds ranked by relevance, and then beneath all that you build marketplaces for advertising—a true moneymaking machine. If you happen to create an honest-to-god marketplace, you can get unbelievably rich.
platformization 
march 2018 by scritic
Bitcoin Is Ridiculous. Blockchain Is Dangerous On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
via:Instapaper  from instapaper
march 2018 by jt.http
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by danimad
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by wenxin
"Companies like Project Spokane mine bitcoin using computer processors, which work feverishly to solve cryptographic puzzles. Solving those puzzles helps verify transactions on the blockchain — the decentralized network that powers cryptocurrencies — and the reward is a fractional amount of the currency. Bitcoin’s design is such that there’s a finite amount of coins to be mined: 21 million, of which about 80% had been mined by January. As more coins are generated, the puzzle-solving process requires more computing power, which means more time, electricity, and money. Bitcoin mining is, quite literally, a race, and the way to win is to amass more continuously running mining rigs than your competitors."

###

"That all of this adds up to money is ridiculous, and we should probably mock it more than we do. Consider Bitcoin a grand middle finger. It’s a prank, almost a parody of the global financial system, that turned into a bubble. “You plutocrats of Davos may think you control the global money supply,” the pranksters seem to say. “But humans will make an economy out of anything. Even this!” To be frank, central banking never really ground my gears; it’s just another one of those vast enterprises that we cower beneath, like network TV or religion. But I can see how it would piss people off. Bits gonna coin."

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"America understands new abstractions by financializing them. It’s how our culture absorbs information. Taxicabs, spare bedrooms, public education—we see markets everywhere. Bitcoin and the blockchain came prefinancialized, intended as a replacement for central banking. But what if the most important thing the blockchain offers isn’t a replacement for money but a new way to build culture?"
bitcoin  blockchain  capitalism  tech  money  wealth 
march 2018 by alexpriest
Here’s what I finally figured out, 25 years in: What Silicon Valley loves most isn’t the products, or the platforms underneath them, but markets. “Figure out the business model later” was the call of the early commercial internet. The way you monetize vast swaths of humanity is by creating products that people use a lot—perhaps a search engine such as Google or a social network like Facebook. You build big transactional web platforms beneath them that provide amazing things, like search results or news feeds ranked by relevance, and then beneath all that you build marketplaces for advertising—a true moneymaking machine. If you happen to create an honest-to-god marketplace, you can get unbelievably rich.
bitcoin  blockchain  tech  crypto  from instapaper
march 2018 by max_read
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by yorlt
I’m not saying this would be a good idea. In fact, I’m pretty sure it’d be a bad one. Point is, this sort of thing used to be prohibitively difficult to pull off at any scale, because anonymity can be hard to protect, and platforms are hard to run and easy to attack. Now the frameworks are coming to build such tools and make them anonymous and decentralized, so that they might endure, and, as with all internet things, they’ll arrive well ahead of the ethics we need to make sense of them.

[…]

Here’s what I finally figured out, 25 years in: What Silicon Valley loves most isn’t the products, or the platforms underneath them, but markets. “Figure out the business model later” was the call of the early commercial internet. The way you monetize vast swaths of humanity is by creating products that people use a lot—perhaps a search engine such as Google or a social network like Facebook. You build big transactional web platforms beneath them that provide amazing things, like search results or news feeds ranked by relevance, and then beneath all that you build marketplaces for advertising—a true moneymaking machine. If you happen to create an honest-to-god marketplace, you can get unbelievably rich.
paul-ford  capitalism  bitcoin  silicon-valley  markets  bubbles 
march 2018 by jbrennan
Liked in Instapaper. Instapaper: Starred https://www.instapaper.com/liked
IFTTT  instapaper 
march 2018 by bperrier
It’s not that I want Bitcoin holders to suffer, really. As a technologist and entrepreneur, I’m sympathetic to and admiring of risk takers. But as a writer, I enjoy the sheer human-condition-revealing sport. I’m happy to watch other people play video games without playing myself. via Pocket
pocket  favorites 
march 2018 by bschlagel
I knew this was gonna be good ( writing on blockchain!). But it exceeded my expectations:
from twitter_favs
march 2018 by sgerstenzang
It’s not that I want Bitcoin holders to suffer, really. As a technologist and entrepreneur, I’m sympathetic to and admiring of risk takers. But as a writer, I enjoy the sheer human-condition-revealing sport. I’m happy to watch other people play video games without playing myself.
speculation  business  cryptocurrencies  market 
march 2018 by lalabadie
It’s not that I want Bitcoin holders to suffer, really. As a technologist and entrepreneur, I’m sympathetic to and admiring of risk takers. But as a writer, I enjoy the sheer human-condition-revealing sport. I’m happy to watch other people play video games without playing myself. via Pocket
IFTTT  Pocket 
march 2018 by domingogallardo
Bitcoin Is Ridiculous. Blockchain Is Dangerous via Instapaper http://ift.tt/2DcDyva
from-instapaper  archive 
march 2018 by lavallee
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by h-lame
The true believers won’t stop until they’ve remade the world. Some of it will be thrilling. Some of it will keep us up at night.
capitalism  bitcoin  blockchain 
march 2018 by jorgebarba
The true believers won’t stop until they’ve remade the world. Some of it will be thrilling. Some of it will keep us up at night.
blockchain  bitcoin  ethereum  via:popular 
march 2018 by mozzarella
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by than
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by stoleaglance
Paul Ford in Bloomberg: "Bubbles are melancholy things—swirls of lies and optimism used to hide a million unrealized yearnings. Bitcoin will crash because of course it will. Bubbles burst."
paulford  bloomberg  bitcoin  blockchain  capitalism 
march 2018 by warnick
It’s not that I want Bitcoin holders to suffer, really. As a technologist and entrepreneur, I’m sympathetic to and admiring of risk takers. But as a writer, I enjoy the sheer human-condition-revealing sport. I’m happy to watch other people play video games without playing myself. via Pocket
IFTTT  Pocket 
march 2018 by schmitz
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by ashaw
“I know a mind virus when I see it.” Paul Ford on cryptocurrency and Silicon Valley’s love for making markets
from twitter_favs
march 2018 by gpadgett
On the days when Bitcoin crashes, a holiday atmosphere takes over in my corners of the internet. People tweet screengrabs of Reddit fights. It’s always good fun…
from instapaper
march 2018 by artlung