• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: The Sandbox Seals Deal With Saudi Arabian Digital Government Authority
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: The Sandbox Seals Deal With Saudi Arabian Digital Government Authority
Advertisement

Buddha and the Blockchain: Everything in Moderation

Antonio Grumser by Antonio Grumser
5 years ago
in Op-Ed, Blockchain, News, News teaser
0
Advertisement

While Blockchain is set to be disruptive, the technology itself has already been disrupted by the people who praise it most. The crypto-craze brought with it a wave of individuals keen on using Blockchain as an end instead of a means to an end. 


Following the Buddha’s life journeys, he devised a philosophy for life that has reverberated throughout our society until today. After going from extreme comfort and ostentation to sickening poverty, he realized the truth of it all laid in the middle path between these two diametrically opposed ways of life. Hence, arose the theory that everything should be conducted in moderation. Moderation entails acknowledging but not adopting extremes; in turn, a careful compromise is created.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

This is no new theory. Abuse the use of something too much, it loses its value; use something too little, it becomes meaningless. And so in 2018, we find ourselves in such a situation. With so many great technologies capable of transforming every aspect of public life, we often get too consumed by the possibility of innovation. When excitement and emotion triumph, reason diminishes and many times our failed innovations become consequences of our loose rationale. The bandwagon abuse of fundamentally good technologies ultimately demoralizes and delegitimizes the technology, not only diminishing the success of its previous users but also oversaturating the technology for its future users.

Buddha

SIDDHARTHA IN THEORY, SATOSHI IN PRACTICE

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Our love story with Blockchain is no different. In 2008, following the ingenuity of Satoshi Nakamoto, we were introduced to a technology capable of revolutionizing how we manage, store, and send information. Offering an immutable, transparent, and decentralized alternative to previous technology, counter-culture crypto geeks and investment bankers – to a much lesser degree – were amazed at the applicabilities of the Bitcoin technology. Following the 2008 housing crisis, other prominent start-ups arose, each using Blockchain as a solution to the corrupt, centralized, and inefficient governmental and financial systems we had in place. And like this, our relationship with the technology began: it was controlled and healthy.

The mid-2010’s saw a growing enthusiasm for the technology. As the crypto space started to grow and eyebrows began to rise on Wall Street, Blockchain was thrust into public conversations and became a growing phenomenon. Its concise and efficient solutions to everyday problems became commonly accepted. National acceptance fertilized international attention. As our relationship with Blockchain started to popularize, the technology was put into the hands of capable people. Grandfathers and teenagers alike were enthused. Finally a fix to our financial systems? An efficient way of remittances and payments? We want in.

blockchain

A SNAPSHOT OF TODAY

And so now we are in April of 2018; our relationship has become commonplace and abusive. While Blockchain’s first adopters utilized the technology to foster real-world solutions to aching problems, its most modern adopters use the technology to join the bandwagon of modern inventors. What we are left with is a basket of pseudo-entrepreneurs, all claiming that they can diagnose a pressing market failure by adopting the divine technology. Instead of asking if Blockchain can act as an absolute solution to a problem, pseudo-creators start with the premise of Blockchain and attempt to find a problem. Not only is this counter-intuitive, but it has historically proven to be a failure. Those that start with a solution and then transcribe it to a problem risk misunderstanding it, ultimately leaving the space with yet another useless invention.

Nowadays, there is a blockchain solution for everything. Have acne? Blockchain. Need to get a ride to the airport? Blockchain. Can’t stand your parents? Blockchain. By arbitrarily creating problems and diagnosing them with blockchain, the technology has become oversaturated, and its value has become diluted. The technology – which has the capability of transforming our financial and governmental systems – has now been taken over by illegitimate con-men.

sky

If we are to retain the value of this technology and let it reach its potential, we must get rid of the pathogens that have started to infiltrate its divine body. As enthusiasts of the crypto space, we must call out these absurdist creations and praise those which are legitimate. If not, the abuse of the system is bound to become its Achilles Heel: anything divine in its original premise can become corrupted by the tyranny of the majority.

Please, take the Buddha’s words to heart: Use carefully and in moderation.

What are your thoughts on the recent usage of Blockchain? Do you think mass usage is devaluing the technology, or is it just a necessary step to success? Let us know in the comments below.


Image courtesy of PublicDomainPictures, Pixabay, and Pxhere.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Antonio Grumser

Antonio Grumser

Antonio Grumser is an undergraduate student at Georgetown University. He is a co-founder of Potomac Crypto Capital LLC and enjoys reading philosophy and taking photographs in his free time.

Related Posts

cbdc

Bank Of England, UK Treasury Support ‘Digital Pound’ Project, Say UK Likely To Need CBDC

3 days ago
Polkadot DOT DOTUSDT

Automotive Giant Toyota Explores Polkadot Project To Increase Business Efficiency

6 days ago
Blockchain

Blockchain For Traceability: Thailand’s Biggest Food Exporter Uses Tech To Monitor Goods

2 weeks ago
Korean Financial Services Commission Chair Announces Security Tokens

Korean Financial Services Commission Chair Announces Security Tokens

3 weeks ago
DCG

Tron Founder Justin Sun Ready To Invest $1 Billion On DCG Assets

4 weeks ago
ETF

Samsung Unveils Bitcoin Futures ETF Amid Escalating Crypto Interest

4 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF...

    14 hours ago
  • SinVerse Studios Announces $1 Million Buyback Program for...

    14 hours ago
  • Join the Revolution: Invest in STARSTAKING for 25% APY and...

    14 hours ago
  • The Crypto Bull Market Trend Has Started! What Does This...

    15 hours ago
  • Orbeon Protocol (ORBN) Grows 1625% During the Presale...

    15 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.