The Future of Bitcoin

Responding to an article by Krugman on Bitcoin, Opinion | Transaction Costs and Tethers: Why I’m a Crypto Skeptic, I wrote the following:

People that I know of that have an interest in bitcoin and its related activities mostly see a future in the ledger aspect, not in mining. Cryptocurrencies themselves will likely die out, maintained in an alternative world of criminal activity, while the ledge has been taken up by many as a way of maintaining accuracy in transactions, not necessarily monetary.

In retrospect, it might be more judicious to think that Bitcoin will not die out but morph into some other beast, as it is unlikely as it will completely disappear, simply added to the mix of technologies. Someone will make better use of it as a transactional system.

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Foxes and Hedgehogs

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