Thanks for the feedback Oliver.

Bitcoin is a type of Blockchain. It can be thought of as a subset of the overall conversation of blockchain. Indeed an important one that works.

The hype might be a bad thing. Blockchain tech is still in it’s nascent stages and needs to be guarded against the disappointment of technically unsophisticated users who will eventually be the end users. Although I think it doesn’t matter anymore since the tech seems to be gaining sufficient traction.

About it starting to look like a pyramid scheme, I would beg to defer since apart from the people involved with working with this technology (often advanced users), it does look fishy to a layman. You can find multiple examples of this in various articles and documentaries. Do check out the documentary ‘Banking on Bitcoin.’

Agreed that the power argument exists mainly for PoW, which I’ve pointed out and suggested possible imminent solutions like using different consensus protocols or if energy becomes really cheap, we wouldn’t have to worry about it.

These are general challenges that need to be kept in mind when designing systems around the blockchain.

Also, great article. Thanks for sharing.



Closet Zen master. Part cyborg.

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Closet Zen master. Part cyborg.

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