"Blockchain’s Broken Promises"

Published in Project Syndicate on 2018-03-05, "“Bitcoin is based on the blockchain pipe dream” – The Guardian | 11,293.35" declared Bitcoin dead or fundamentally doomed. The piece dismissed Bitcoin while acknowledging blockchain technology, arguing the underlying network was the real innovation and Bitcoin itself was dispensable. Bitcoin was trading at an unrecorded price at the time of publication. Bitcoin crashed more than 80% from its late 2017 peak, with critics pointing to the burst of the speculative bubble.