Overpriced cryptocurrencies owe their diminishing credibility to an over-hyped technologyPredictions that bitcoin and other cryptocurrencies will fail typically elicit a broader defence of the underlying blockchain technology. Yes, the argument goes, over half of all “initial coin offerings” to date have already failed, and most of the 1,500-plus cryptocurrencies also will fail, but “blockchain” will nonetheless revolutionise finance and human interactions generally.In reality, blockchain is one of the most overhyped technologies ever. For starters, blockchains are less efficient than existing databases. When someone says they are running something “on a blockchain”, what they usually mean is that they are running one instance of a software application that is replicated across many other devices. Continue reading…
Via: Bitcoin is based on the blockchain pipe dream | Nouriel Roubini and Preston Byrne
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PIERS MORGAN: A phone call I received from a fired-up Trump should be a warning to Democrats
President Trump called me for a chat on Saturday. It was our first conversation since he unfollowed me on Twitter in April after I wrote a Mail column telling him to ‘Shut the f*ck up Read more…