don't panic

Bitcoin dominance/conflation hurts all Crypto


I was reading a recent AARP magazine article (yes, I am that old) entitled "Digital Valuables: They're hot, so handle them with care" which was talking about Non-Fungible Tokens (NFTs) and said, 

"More recently, digital collectibles such as trading cards and art - employing some of Bitcoin's underlying technologies - have also experienced big jumps in public attention and prices."

This characterization of Ethereum NFTs as mere "Bitcoin underlying technologies" is a horrible conflation that really demonstrates the "all Cryptos are Bitcoin" mindset in our never-ending quest to dumb everything down.  So, if there is no differentiation between Blockchain 1.0 and Blockchain 2.0 - the evolution of crypto-currencies is slowed down by implicitly connecting the value of all cryptocurrencies to the value of Bitcoin.  In my opinion, this is a big mistake.

Of course, the answer is not less writing but MORE writing: this time by people who know what they are talking about and can explain it well.  So, I applaud everyone writing on this platform and our readers for actually taking the time to understand the differences between cryptocurrencies and how the entire industry is evolving.  Clearly, we have a lot of work to do in educating the general public!

 

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CryptoTekkie
CryptoTekkie

Michael Daconta is a well-known technology author of 13 technical books, 1 non-fiction book, and thousands of articles and blog posts. He has authored and co-authored books on Java, XML, C, C++, info management, and cloud computing. https://daconta.us


Good Crypto Bad Crypto
Good Crypto Bad Crypto

In this blog, we will evaluate cryptocurrencies through the lens of the disruptive power of the underlying technologies. Not all technologies are equal. The smart investor of cryptocurrency must distinguish between things that are truly revolutionary, things that are evolutionary, and things that are merely exploiting the hype to make a quick buck through copycatting and buzzwords.

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