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Collateral Damage From The Inevitable Bitcoin Crash

Bitcoin is well off its all-time high, due in large part to moves by China to shut down domestic Bitcoin exchanges.

Your results may vary.

Your results may vary.

Also putting pressure on Bitcoin: The People’s Bank of China recently banned initial coin offerings (ICO), thus outlawing the practice of creating and selling cryptocurrency to investors to finance startup projects in the country.

Bitcoin-watchers take solace, however, in Bitcoin’s price resilience around the $4,000 mark – and hopes that China will see the light and ease its newly-minted restrictions.

And then there are skeptics like myself who see China’s moves as the first few dominos to fall, heralding a complete collapse of the Bitcoin speculative bubble.

I’m not going to use this article to argue that Bitcoin is in a speculative bubble, however. That fact is too obvious to warrant such an argument.

Instead, I’m going to gaze into my crystal ball and predict what secondary effects such a crash will cause – in other words, the collateral damage.

When Bitcoin Crashes, Who Will Suffer?

Crystal balls are notoriously fickle to be sure, and there’s no reason to believe mine is any better than anyone else’s. As such, I am going to rate each of my predictions with a subjective probability score, measuring how likely I personally believe such collateral damage will occur. Your results may vary.

Read the entire article at https://www.forbes.com/sites/jasonbloomberg/2017/09/12/collateral-damage-from-the-inevitable-bitcoin-crash/.

Intellyx publishes the Agile Digital Transformation Roadmap poster, advises companies on their digital transformation initiatives, and helps vendors communicate their agility stories. As of the time of writing, none of the organizations mentioned in this article are Intellyx customers. Image credit: Casey Fleser.

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More Stories By Jason Bloomberg

Jason Bloomberg is the leading expert on architecting agility for the enterprise. As president of Intellyx, Mr. Bloomberg brings his years of thought leadership in the areas of Cloud Computing, Enterprise Architecture, and Service-Oriented Architecture to a global clientele of business executives, architects, software vendors, and Cloud service providers looking to achieve technology-enabled business agility across their organizations and for their customers. His latest book, The Agile Architecture Revolution (John Wiley & Sons, 2013), sets the stage for Mr. Bloomberg’s groundbreaking Agile Architecture vision.

Mr. Bloomberg is perhaps best known for his twelve years at ZapThink, where he created and delivered the Licensed ZapThink Architect (LZA) SOA course and associated credential, certifying over 1,700 professionals worldwide. He is one of the original Managing Partners of ZapThink LLC, the leading SOA advisory and analysis firm, which was acquired by Dovel Technologies in 2011. He now runs the successor to the LZA program, the Bloomberg Agile Architecture Course, around the world.

Mr. Bloomberg is a frequent conference speaker and prolific writer. He has published over 500 articles, spoken at over 300 conferences, Webinars, and other events, and has been quoted in the press over 1,400 times as the leading expert on agile approaches to architecture in the enterprise.

Mr. Bloomberg’s previous book, Service Orient or Be Doomed! How Service Orientation Will Change Your Business (John Wiley & Sons, 2006, coauthored with Ron Schmelzer), is recognized as the leading business book on Service Orientation. He also co-authored the books XML and Web Services Unleashed (SAMS Publishing, 2002), and Web Page Scripting Techniques (Hayden Books, 1996).

Prior to ZapThink, Mr. Bloomberg built a diverse background in eBusiness technology management and industry analysis, including serving as a senior analyst in IDC’s eBusiness Advisory group, as well as holding eBusiness management positions at USWeb/CKS (later marchFIRST) and WaveBend Solutions (now Hitachi Consulting).

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