Is Bitcoin the biggest technological innovation since the internet itself, or is it the biggest load of hype around a new emerging technology the world has ever seen?
What if I told you the answer was yes to both?
Right now, blockchain is in the 1992 era of the internet in terms of adoption, infrastructure, and ease of use while it is simultaneously in 1998 era of the internet in terms of hype. So yes, blockchain is absolutely a massively disruptive technology and it is also been hyped quite a bit.
As the price of these new digital assets sore to all time highs, investors and Wall Street money guys are flocking in droves to claim their share of the pie. The total crypto market cap as of the time of this writing is over $335 Billion dollars, up from $14 Billion just 12 months ago. That is some RAPID adoption. Prices have gone up nearly a 1000% every year.
This incredibly lucrative price action has absolutely got the attention of regulators and central bankers, and they are none to happy. In the past few months I have read more articles than I can count from politicians, bureaucrats, regulators, bankers and “economists” all talking about how regulation will legitimize Bitcoin and other cryptocurrencies. Even many Crypto-Entrepreneurs tout this same nonsense to no avail.