Part 3
The Rise of Bitcoin, Crypto and Decentralization
We’ll start with a few easy predictions and move on to some more complex and far reaching ones as well as some seriously controversial ones.
I’ll also include a confidence meter to let you know how strongly I feel about the scenario playing out.
1) The Bubble Bursts
People in and out of crypto see them as bubble that will pop, causing prices to crash badly.
They’re right.
But so what?
That’s not the end of the story. It’s just the beginning.
Right now we’re in the grips of tremendous euphoria. There’s so much potential. We can practically taste the decentralized future. It’s just around the corner! Any day now.
Of course, that’s almost certainly not how it will work out. The bubble will pop. Vitalik is right. 90% of tokens will fail.
But after the pop comes the real working ideas.
read below
Eight years into the crypto experiment, everyone is working on the railroad tracks of the future but we don’t have much to show for it other than speculative trading and some smart contracts. The apps are hideous and practically unusable. It’s nerve wracking when you push “send” and blast $5000 across the web to someone. Better hope you copy and pasted that address right so your money doesn’t disappear into the void!
When the Internet bubble burst many of today’s marquee companies saw their stocks crash 85%. Yet they survived and the best was yet to come. Amazon and Google went on to dominate the world.
The same will happen in crypto.
The 10% of projects that make it through the bloodbath will turn into the Amazon, Google and Facebook of tomorrow and likely even the JP Morgan and Goldman Sachs as well, not to mention maybe even the governments of the future, like digital direct democracies or liquid democracies.
Innovation is hard work. You’re literally trying to create something that doesn’t exist!
There are no guidelines, no working templates, no business models to clone. There’s nothing. You’re on your own! It’s just you and your imagination. With those odds of course 90% of people and companies fail!
It doesn’t matter.
Crypto, blockchain and triple entry accounting are probably the most important invention of the last 500 years so they’re not going to go gently into that good night.
The bubble burst is just the next step. Three years after that the tech will really mature and take off running.
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