Gold Rush, dot-com bubble, blockchain big bang

Currently, I’m on a Telegram chatroom of nearly 40 Cambodian tech folks (less than 10 are active). The discussion is about the potential of blockchain, Bitcoin, Ethereum, and among their personal pursuit in mining the next the big thing.

This Sunday late afternoon, I came across this blog post (in my Gmail inbox sent from The Brain Food Newsletter) from my favorite blogger and writer, Seth Godin. His latest catchy post is Money for nothing.

“Do you think I can get paid $50 an hour to be a dog walker?” “Is listening to some famous person and investing in an ICO a shortcut to riches?” The thing is, almost all the easy shortcuts are taken. And the problem is that the ones that aren’t taken are hiding really well among a forest of scams and ripoffs. Personally, I thought The California Gold Rush (1848–1855) and the dot-com bubble (1997 to 2001) are pretty the same thing as this blockchain big bang.

In his blog post there is also a link to another blog post, which mentioned this book, Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages.

Updated: December 7, 2017

The National Bank of Cambodia (NBC) has just warned the public about the risk of the Bitcoin and other cryptopcurrency. While the rejection has been widely publicized in the media, it’s not just warning but also a big publicity for this blockchain technology and cryptopcurrency.