Byzantine Generals Would Probably Never Tiptoe though the Tulips

October 3, 2018

There are a few billionaires whose opinions on cryptocurrency are worth listening to, and Mike Novogratz is one of them. Yesterday, CNBC reported Mike Novogratz recent comments on Coinbase’s recent negotiations with investment firm Tiger Global. CNBC reported that the deal would value Coinbase at $8 billion. “The tulip news flies in the face of bitcoin being “tulip-mania.” said Novogratz, a former Goldman Sachs macro trader.

People who equate bitcoin with tulip mania likely have a limited, surface level understanding of blockchain technology and how it solves the Byzantine Generals problem of distributed consensus. They also lack the capability of envisioning use cases that will emerge within the next decade; uses that have the capacity to transform the lives of impoverished individuals globally.

About Cryptobellum 66 Articles
Cryptobellum is a digital publication of Telesto Studios, LLC focusing on the cryptocurrency market and the underlying blockchain technology that fuels it. Created and managed by Sharon Moran, Cryptobellum also provides original features and covers AI and other technological advancements. Sharon was first introduced to Bitcoin in 2009, and later tried her hand at mining Litecoin in 2014, but it wasn’t until 2016 when she began to study the programming behind blockchain that she finally realized the technology’s full potential. She enjoys exploring the intersection of AI and blockchain and holds a B.S. in Psychology/Philosophy and an M.Ed. Contact her at sharon@telestostudios.com

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