31 Dec '14, 6pm

Tech 2015: Block Chain Will Break Free From Bitcoin To Power Distributed Apps

Tech 2015: Block Chain Will Break Free From Bitcoin To Power Distributed Apps

In many ways, the crypto currency Bitcoin had a very bad year in 2014. It has fallen from a value of over $1,000 per Bitcoin last January to just over $300 today. This volatility and the attendant speculation has led some critics, notably Nobel Prize-winning economist Paul Krugman , to consider the cash alternative to be a form of “the long con.” In positive economic terms, he questions whether Bitcoin can be a stable store of value. I often agree with Krugman, but I sense that his deeper unease is with what he terms the “normative economics:” is Bitcoin a good idea for society? He identifies his unease with the observation that, “Bitcoin fever was and is intimately tied up with libertarian anti-government fantasies.” It is hard to ignore the libertarian agenda behind Bitcoin and yet it is also hard for me not to see programmable currency as a necessary building block of t...

Full article: http://www.forbes.com/sites/anthonykosner/2014/12/31/tech...

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