The dogecoin founder on the cryptocurrency bubble
Really great profile by Kevin Roose of Jackson Palmer, the founder of Dogecoin. Broad points here about the future of cryptocurrency and why it is almost certainly in a bubble.
Why bitcoin fails: Illiquidity
But bitcoins are not so liquid. Mostly, to buy things, I need to trade them for dollars or another currency. And that is the fatal weakness of bitcoins: at some point, to compete with dollars, it needs to enter the real economy. And if bitcoins become a good way to avoid government surveillance of your financial transactions, then governments will find a way to choke off those entry points so that bitcoins become very illiquid indeed. You cannot have a valuable currency that is good only for the purchase of child pornography and other highly illegal, entirely digital goods.