A Letter to Jamie Dimon

Ich haber einen sehr schö­nen Blog­bei­trag bei “blog.chain.com” gefun­den, der an Jamie Dimon (JP Mor­gan Cha­se) gerich­tet ist und ihm die Welt der Cryp­to­cur­ren­ci­es erläu­tert. Es ist ein Brief mit jeder Men­ge an Know-how und somit für jeden geeig­net, der sich aus­führ­lich mit dem Phä­no­men Bit­coin udglm. beschäf­ti­gen will. Adam macht deut­lich, wie der Bit­coin ent­stan­den ist und wel­che Mög­lich­kei­ten sich in nahe­zu allen Wirt­schafts­be­rei­chen aus sei­ner Exis­tenz erge­ben. Lud­win defi­niert Bit­coin letzt­lich als: Neue Asset-Klas­se für dezen­tra­le Applikationen/Anwendungen. Klingt zunächst mal wenig sexy, hat aber sei­nen Charme, wenn man das Gesamt­kon­zept hin­ter Cryp­to­cur­ren­ci­es ver­steht, so wie es Sato­shi Naka­mo­to der­einst im Novem­ber 2008 for­mu­liert hat

.… It’s easy to belie­ve cryp­to­cur­ren­ci­es have no inherent value. Or that governments will crush them. It’s also beco­m­ing fashion­ab­le to belie­ve the oppo­si­te: that they will dis­rupt banks, governments, and Sili­con Val­ley giants once and for all. Neit­her extre­me is true.

The rea­li­ty is nuan­ced and important. Which is why I’ve deci­ded to wri­te you this brie­fing note. I hope it helps you appre­cia­te cryp­to­cur­ren­ci­es more deeply.

Let me start by sta­ting that I belie­ve:

The mar­ket for cryp­to­cur­ren­ci­es is over­hea­ted and irra­tio­nal­ly exu­berant
The­re are a lot of poseurs crea­ting them, and some scam­mers, too
The­re are a lot of con­flicts of inte­rest, self-ser­ving hype, and obfu­s­ca­ti­on
Very few peop­le in the media under­stand what’s going on
Very few peop­le in finan­ce under­stand what’s going on
Very few peop­le in tech­no­lo­gy under­stand what’s going on
Very few peop­le in aca­de­mia or government under­stand what’s going on
Very few peop­le buy­ing cryp­to­cur­ren­ci­es under­stand what’s going on
It’s very pos­si­ble I don’t under­stand what’s going on


Banks and governments aren’t going away
Tra­di­tio­nal soft­ware isn’t going away

In short: there’s a lot of noi­se. But the­re is also signal. To find it, we need to start by defi­ning cryp­to­cur­r­en­cy. Without a working defi­ni­ti­on we are lost. Most peop­le arguing about cryp­to­cur­ren­ci­es are tal­king past each other becau­se they don’t stop to ask the other side what they think cryp­to­cur­ren­ci­es are for.

Here’s my defi­ni­ti­on: cryp­to­cur­ren­ci­es are a new asset class that enab­le decen­tra­li­zed app­li­ca­ti­ons.