At today’s Table Talk, we discussed cryptocurrencies and blockchain technology with Ty. Cryptocurrencies such as Bitcoin have been all over the news recently, so it was nice to get a better idea of what they actually are. An especially important takeaway from this session was the difference between Bitcoin (a cryptocurrency) and blockchain (the technological setup moderating and securing cryptocurrencies). The blockchain model of data storage/transfer is potentially applicable to many other fields, while Bitcoin and its fellow cryptocurrencies are less flexible. Even if Bitcoin proves to be a bubble, which seems very possible given its lack of actual buying power to lend credibility to its supposed value, the blockchain schema may survive to form the basis of some other new technology.

What does everyone think? Is Bitcoin a bubble? What about other cryptocurrencies like Ethereum?