Well, that escalated quickly. When I wrote my first post about blockchain, the price of bitcoin was $4,549. Now, less than 4 months later, it is $18,600. A nice 400%+ return. Bitcoin futures (disconnected from the underlying) are now trading on two US exchanges. I hear about cryptocurrencies every day on Bloomberg. Marketwatch.com added a "crypto" column to their tickers. I am still not convinced that bitcoin is "the" long term solution, but it has had an amazing run. I don't think most people even understand the implications of the hard forks this year.
Since August, I have dabbled in several cryptocurrencies and made huge percentage gains (with small dollar amounts). It's easy to feel smart when everything is going up. It feels a lot like the Napster days before the lawsuits. It could certainly all crash as fast as Napster, too. However, blockchain, or a successor technology like the Iota Tangle (which I don't think will work as designed), will survive and get applied to hundreds of finance problems to reduce costs and speed services. I am wasting some time researching all the development projects going on and enjoying the fresh takes on the technology.
Meanwhile, the S&P has made more records than any other year in history. Real estate is booming. It's seems hard to lose money on anything right now. I wonder how long that will last.
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