Five years from now cryptocurrencies will be either the biggest collective flop since the Soviet Union or the best thing ever hatched by the Internet. Cryptocurrencies in general and Bitcoin in particular are writing intriguing histories.
The dollar is on shaky ground despite what the pundits might tell you. Cryptocurrencies might provide safe harbor in a Weimar scenario. Right now the harbor is tiny and it is turbulent.
"Who is John Galt?" is a question that haunts the characters of "Atlas Shrugs". When life imitates art, we ask "who is Satoshi Nakamoto?" In an age of Big Brother on steroids the world's top journalists were unable to unmask the founder (or a founder) of Bitcoin.
On the day Australian Craig Wright outed himself as Nakamoto, Bitcoin lost one third of its value. That is a big story but the ongoing tale is the upward spiral of Bitcoin. From a fraction of a cent in 2008 to $900 a couple of days ago, Bitcoin is by any measure a success story. Craig Wright has amasses a fortune worth hundreds of millions of US dollars .
The Bitcoin saga is probably too complicated for our electronic media to embrace. With hucksters and sideshows galore, this might be the most interesting story not on TV.
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