“One of the interesting things about Bitcoin is the contrast between how it is portrayed in the press and how it is understood by technologists. The press tends to portray Bitcoin as either a speculative bubble or a scheme for supporting criminal activity. In Silicon Valley, by contrast, Bitcoin is generally viewed as a profound technological breakthrough.”
Interesting he draws parallels to the HTTP/SMTP protocols. By themselves they are pretty useless — it is the apps built on top of them (the web / email) that make them valuable. The same is true with Bitcoin if you think of it as a protocol rather than as a currency or payment method.
I still think that people writing off Bitcoin as a scam or fad or pyramid scheme are missing the bigger picture. Looks like the big boys in Silicon Valley agree with me.
