Comments on: Three non-technological ways in which blockchains may still “fail” https://blog.p2pfoundation.net/three-non-technological-ways-blockchains-may-still-fail/2016/11/10 Researching, documenting and promoting peer to peer practices Sun, 27 Nov 2016 11:06:21 +0000 hourly 1 https://wordpress.org/?v=5.5.14 By: Luke Parker https://blog.p2pfoundation.net/three-non-technological-ways-blockchains-may-still-fail/2016/11/10/comment-page-1#comment-1578017 Sun, 27 Nov 2016 11:06:21 +0000 https://blog.p2pfoundation.net/?p=61308#comment-1578017 Great article. As a 5-year bitcoin holder I can quote several practical examples of each of your 3 problems against bitcoin, and I know they’ve had a massive effect working against bitcoin and cryptocurrencies.

I definitely see bankchains like R3 CEV failing gloriously, but bitcoin itself still grows more and more towards mainstream use, pushing the yearly high in price now and will likely hit it’s all time high next year after the scaling solutions are in place. One of the many dozens of bitcoin wallet makers has just signed up it’s 10 millionth user, Japan’s trade volume just rocketed past the USD volume this year, and ASEAN remittance routes are being completely overrun by bitcoin-backed remittance companies, and even the occasional big bank now uses bitcoin for remittances like Shinhan in Korea.

I can safely attribute this popularity to the fact that the world NEEDS better money. Economics is driving this, not just our desires for new shiny tech. So while your three roadblocks are real concerns, in bitcoin’s case, they’re only speedbumps.

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