Re: Alternative Hypothesis
The problem there is the proliferation of competing cryptocurrencies, with nothing inherently to choose between them.
No, the problem with all the cryptocurrencies is that there is no backstop. While the central banks are currently working hard to erode confidence in them and hence the currencies they administer, the large currencies are still essentially backed by their economies.
The blockchain is interesting and here to stay, the cryptocurrencies are a textbook example of a speculative fad: no real value but lots of volatility, ie. the chance to make money fom nothing.