Wednesday, March 8, 2017

We are at a turning point in crypto

My fellow crypto friends. We are at a turning point in crypto. Roger Ver is colluding with an ASIC manufacturer (Bitmain) + mining pools (his and others) + rogue "developers" to split the Bitcoin network.  If they are successful, this will set a terrible precedent, and likely shatter the ecosystem.  It will destroy an enormous amount of invested money, time, and effort.  From now on, I will be advising everyone I know to stay the fuck away from Bitcoin and digital currencies for the forseeable future.  I will be doing a more thorough write-up after the ETF news, to discuss the threats to the ecosystem going forward.  This includes some follow-up to Vlad Zamfir's opinions about Ethereum he discussed in his latest blog posts and which he discussed in recent presentations.  I think he's a really smart guy, and Ethereum is lucky to have him. Ethereum is equally as risky a proposition at this point, because Vlad admits it is generally under the central leadership of Vitalik, and the value proposition of both Ethereum and Bitcoin are somewhat flawed.  While I am still "bullish" in the long-term, I believe the next 3-6 months will be a crazy roller coaster.

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