Long Live The Network
The Storm Is Here
Today (or yesterday, depending on where you live), NiceHash got hacked. Approximately $64 million is reported to be stolen.
Today is going to be “just another day in the crypto world”. People will make a fuss about it. People will soon forget about it and move on.
I think it is essential to take a moment and reflect on the history of blockchain technologies, and cryptocurrencies in particular. I believe we are heading down a dangerous path, away from our original vision of a decentralized world. You may disagree but here is my side of the story.
When BitCoin, the first well-known [fn: but not the first ever] cryptocurrency was created, the network was intended as a form of direct democracy, wherein each member (a computer), can get one vote represented by its computing power. In the beginning, this worked out perfectly. Most miners back end the old
Continue reading →