There have been many technological breakthroughs throughout the millennia. And yet, there may be only but one technology that occupies the entire spectrum of utility, meaning that it can be regarded as “utterly useless” or “the greatest technology ever” depending on whom you ask. Bitcoin and the Blockchain are that technology. Its detractors regard it as utterly useless, pointing to the fact that the world has no need for a new form of money or even a decentralized database. Its proponents say that it has a chance to join the pantheon of inventions past, to become a fundamental utility, to stand alongside farming, the wheel, electricity, germ theory, etc etc.
Will Bitcoin become our next great technology, or even the greatest of technologies; or will it ultimately fade away, a distant memory in our collective consciousness, whispered only by historians when discussing underperforming 21st Century technologies?
We will attempt to predict Bitcoin’s journey through time. We will examine the reasons as to why Bitcoin is regarded by some as the greatest technological breakthrough ever.
Our inquiry may hold some insight into our machine future…
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MUSIC:
Kevin Macleod: Thunder Dreams & Send for the Horses
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