Cryptocurrencies require an even distribution of sellers and buyers to create a healthy, liquid market. However, many cryptocurrencies have an insufficient number of buyers, and therefore rapidly fall into a frozen state that is very hard to reverse. In this context, bitcoin floats relatively close to the top.
Ian Foley is a cartoonist, writer, serial entrepreneur and investor focused on enterprise software. Living in Silicon Valley, he has founded or led sales at four startups, all at the forefront of new data technologies.