Bittercoin: true blockchain believers vs. the trough of disillusionment
The last 12 months have seemed an annus horribilis in the cryptocurrency world. The Bitcoin community is still fighting its years-old esoteric-to-an-outsider civil war, and is still nowhere near consensus; Ethereum’s public image has not recovered from the DAO fiasco; the much-hyped R3 consortium has abandoned blockchain technology; and the SEC rejected the touted Bitcoin ETF.
What now? Is this a slow death spiral, signalling the sad end of Satoshi Nakamoto’s dream and the motley crew of plucky cryptoheroes who defend it? Or is something interesting happening beneath this sheen of despair and decay?
The answer is: possibly neither, probably the latter, almost certainly not the former. The searching-for-the-new-new-thing, what-have-you-done-for-me-lately mindset of so much of the tech industry tends to equate a period of slow grinding with stagnation and death. This is not so. The quixotic quest for the cryptocurrency “killer app” — one that will bring widespread, mainstream usage — continues, and won’t succeed any time soon; but, meanwhile, a whole panoply of interesting and practical use cases has arisen. Call them “maimer apps.”……