Nobody (except geeks) cares about your blockchain

If you went out to the streets and mention Bitcoin, everyone will have a personal opinion or a story of a friend relating to it although most would likely be unable to define what a blockchain is. Much like how many sports fans have never even played the sport which they are so passionate about, it is not about the game itself that draws them to it but rather the history and context behind each match. As of this writing: England will have to wait another 4 years for a chance to chant ‘It’s Coming Home’ and end their 52 year FIFA Championship drought; LeBron James is joining the Lakers after having had to carry all the hopes of Cleveland fans and being continuously disappointed by his teammates; and Connor McGregor is following in the footsteps of Mike Tyson with copious amounts of trash-talking and of course ‘Making-it-rain’ pictures.

Definitely watching it for the sport

This is the same reason why the painting of the American flag below managed to fetch $110m at an auction while you can easily pick up a flag for a few dollars elsewhere.

When art becomes more than just ‘art’

However, unlike an art piece, what makes sports that much more griping is that its stories are always current and easily understood therefore making it more relatable. Sports have the ability to overcome all boundaries. You don’t need a common language to understand it. At its core, it is about pitting the desires and perseverance of one individual or team against another. It is a clash of passions where at the end of the day, a winner will emerge. It is why the knockout rounds of FIFA are so much more exciting than the qualifying rounds.

In a similar vein, cryptocurrencies are able to overcome any cultural boundaries as all it requires is an understanding of money which any modern society would already have a good amount of knowledge on. The story surrounding cryptocurrencies has become a story about the clash between technology vs middlemen, anarchists vs governments, people vs establishments. With its intrinsic value being so far abstracted from the physical world, most have settled on it’s monetary valuation to determine a winner in this battle. A meteoric rise in Bitcoin’s price will mean the technologists, anarchists and democracy have won and vice versa. As always, the truth is always somewhere in the middle but this delineation is what makes cryptocurrencies so divisive as I argue here.

“Drama is anticipation mingled with uncertainty” — William Archer

A good story is inevitable but not predictable hence the volatility of cryptocurrencies makes this story even more exciting. The prices of cryptocurrencies is the constant change in this story which keeps it interesting.

Given the steep learning curve required to even remotely understand blockchain technologies, the confusion around the technology compels us to deduce and deduct as to who is in the right and whether we were right in our deductions. Additionally, the mystery behind Bitcoin’s creation and its linkages to the dark-web (I highly recommend this read about Ross Ulbricht, the founder of Silk Road) makes for an even more intriguing story. These anarchist beginnings coupled with the institutional self-interest that resulted in many financial crises in the past pushes us to the edge of our seats. In effect, it is an underdog story about honest conflicts that create doubt about what the truth might be hence we demand a conclusion to this story.