Tuesday, January 23, 2018

Bitcoin May Split 50 Times in 2018 as Forking Craze Accelerates - Bloomberg

What could possibly go wrong?... Tangentially, see Bitcoin broker Coinbase booked $1 billion in revenue last year — so the company has told hovering VCs to back off (Recode) and Nassim Nicholas Taleb's Bitcoin: It may fail but we now know how to do it (Medium)
"“Unfortunately, most fork-based projects we see today are more of a sheer money grab,” said George Kimionis, chief executive officer of Coinomi, a wallet that lets Bitcoin owners collect their new forked coins. “Looking back a few years from now we might realize that they were just mutations fostered by investors blinded by numerical price increases -- rather than honest attempts to contribute to the blockchain ecosystem.”

He predicts forking may soon sideline a more popular alternative, initial coin offerings, in which startups raise money by selling entirely new tokens. That market has gotten crowded after raising about $3.7 billion last year, and smaller offerings have struggled."
Bitcoin May Split 50 Times in 2018 as Forking Craze Accelerates - Bloomberg

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