A digital currency is coming, but it’s not Bitcoin

The bubble is finally bursting, leaving a trail of gullible fools to nurse their losses. We are simply witnessing a correction in the greatest bull market of all time. Governments are getting scared and clamping down as they witness their power ebbing away, the North Koreans are manipulating the market as an overture to war, and the Knights Templar are controlling all the cryptocurrencies as a way restoring their ancient order to global power.

OK, I admit I made that last one up after reading a bit too much Dan Brown, but all the others are explanations seriously put forward for the wild volatility in the price of Bitcoin so far this year. Indeed, there are almost as many opinions out there as there are actual units of the digital currency.

Amid all that speculation, however, one point is easily overlooked. The crazy movements in the price mean that Bitcoin will never be the one thing it...