At the #New America #cryptocurrency conference, MIT’s Simon Johnson suggested that Bitcoin is falling behind the curve: if you want to be taken seriously, you can’t fund terrorists. On the other hand, Carol Van Cleef offered that it takes funding to get the work done with regulatory agencies, so change is coming slowly.
As we approach what will surely be an all too brief coffee and cookie break, the theme I hear emerging is that while cryptocurrency has a promising future as a new industry, Bitcoin may be in danger of falling by the wayside.
It does feel like most of the speakers so far are working to make the case that Bitcoin is losing control of the narrative and that it needs to grow up and get serious – and quick.
The undercurrent is that Bitcoin must join the establishment, even as it seems the whole point is to provide an alternative to that very structure.
Joel Garreau suggests that while electronic currencies have a future, Bitcoin is probably the Altavista of #cryptocurrencies and Google is the one to watch. Meanwhile, during the “Is the Dollar Doomed?” panel, @JustinWolfers tried to be pithy and controversial, but just seemed obstinate. @MilesKimball made some great points about monetary policy and adoption of cryptocurrency.
At the #Cryotocurrency event at the New America Foundation today. Great lineup of panels and speakers. Wondering if it’s time to double down on bitcoin.