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State of the Blockchain 2016

I'm not a major blockchain fan, not because it doesn't work, but because ultra-libertarian hackers can't solve a nest of institutions like finance with plug-and-play crypto solutionism. Bitcoin plummeted from the mathematical noosphere into an all-too-human snake-pit of fraud, trolling, censorship, palace intrigue and Chinese nationalist fire-walling.

The Bitcoin veteran here may not be entirely, mathematically accurate in his glum analysis of what went on with Bitcoin in real life. He may well be lying, special-pleading, backstabbing his many enemies and also deceiving himself. However, that behavior is not "part of the problem." The human element actually is the Bitcoin problem.

-- Bruce Sterling