25th December 2021 > > Decentralisation.

tl;dr

A personal view.

Market Snap

Market Wrap

Since we last broke through $50k BTC has comfortably held around $51k. A quiet end to the year will help set us up for renewed enthusiasm in January.

Curious Cryptos’ Commentary – Decentralisation

Boring I know. I bang on about it all the time.

Decentralisation is so important to me and my core beliefs. Just give me two minutes of your time please.

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Blockchain technology is borne out of a desire for democracy, liberty, and freedom.

BTC is merely the fuel for the first decentralised invention in mankind’s history. The very first one.

In 2121 our great-great-grandchildren will look back in wonder at our collective inability to grasp the importance of decentralisation.

Blockchain technology is even more revolutionary than William Caxton’s offer to the world (*).

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Most discussion around cryptos, and particularly the criticism that we hear on a regular basis from unreconstructed institutions, fails to recognise the distinction between blockchain tech and the fuel that is required to ensure that the blockchain is truly decentralised.

Never make the mistake of confusing crypto currencies with blockchain technology. If you do that, you will let this revolution pass you by.

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Back in the day, for most of us (excepting Giles and Larry and hats off to you two), our involvement in dial-up modems, CompuServe, bulletin boards, domain names, the first iteration of Explorer, and various other early internet applications was not to make ourselves rich.

It came from a desire to try to understand on a very basic level how IT technology was on the cusp of fundamentally changing everyone’s lives.

And IT tech has certainly done that. In less than three decades.

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Just before Xmas 1994, Giles, Rob & I went to see The Lion King in Leicester Square.

However ridiculous that statement sounds now, you must bear in mind that at that time the Lion King’s graphics were utterly unique and ground-breaking. You should also recognise that Soho and its environs was not the disinfected pastiche it is now.

I had seen two clips of Lion King in very grainy, very blocky (much like Minecraft), and very slow downloads using CompuServe on my state-of-the-art PC at home.

That state-of-the-art PC - think very large, very slow, no memory to talk of, and crashing all the time. That’s the one.

And do not talk to me about having to physically use a phone to get a connection, which usually failed. I spent more time with my finger turning the dial on my landline brick than I did connected to the internet thingy.

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Seeing those brief clips of Lion King before watching the movie for real made such an impression on me that I could not stop banging on about it during the whole film.

Rob told me to shut up several times.

Which is a ridiculous demand coming from a gobby scouser.

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Looking back I now see the confluence of technological innovation and its (mostly) positive impact on society. I was not wise enough or, more precisely, not bothered enough to get involved in the way I should have done.

But being back there at the dawn of the internet and when we were young is exactly where we are now with cryptos.

Downloaded Lion King graphics are extraordinary, there are still edgy pubs in central London, and N16 is a wasteland.

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The decentralised revolution is about to change our world for the better.

Embrace and enjoy.

Reserve Treasury Protocols (before they all go to zero

With market price now significantly lower than treasury backing price, it seems clear that all these OHM forks are scams.

(*)

Due to popular demand the CCC will try to include more pictures.

Here is a rendition of William Caxton. Top man, we can all agree.