Topic: [2017-06-27] Bitcoin Development Similar to 1800s Gold Rush: Expert (Read 4076 times)
Main goal back then is to own the land with gold not to get it yourself. No one can say you cannot mine my bitcoin !
June 28, 2017, 12:23:39 AM
Picks And Shovels Model: Industries That Make Equipment
What kind of new tools will people need next?
What kind of new tools will people need next?
June 27, 2017, 05:47:55 PM
There is a huge difference between gold and bitcoin, back then people thought there are mountains of gold every where but now and from day one everyone are aware of the total numbers of bitcoins, we all know how long it'll take for all 21M coins to be mined and unlike gold bitcoin is intentionally getting harder to mine and obtain by mining. bitcoin is artificial and man made.
Governments can't control and own BTC and it's network like they are dictating the terms of gold markets.
Governments can't control and own BTC and it's network like they are dictating the terms of gold markets.
June 27, 2017, 02:33:24 PM
Present day Bitcoin and altcoin development appear to be recounting a theory that played out in the early mining industry.
As was the pattern during the actual gold rush of the 1800s, while some people took the risk and spent their time looking for gold, other folks watched on non-judgmentally and lucratively supplied the "picks and shovels" that enabled the fever-pitched masses to take a shot at "striking it big."
Drawing on some similarities and contrasts between the actual "gold rush" and the new "digital gold rush" provides a good framework to describe how industries today are being impacted by Bitcoin.
Bitcoin evangelist and technologist Melvin Petties explains how the emergence of Bitcoin has given rise to different kinds of related endeavors, pointing out the attitude of some key players and the impact on the crypto ecosystem.
Picks And Shovels Model: Industries That Make Equipment
According to Petties, in the olden days, the absolute quantity of precious metal was not known so the risk of participation was greater. The big rewards were random yet impactful - whole towns were built from major gold strikes, which made the lure to participate even greater. People from all walks of life, even the very poor, were compelled to participate and their chances of success were arguably relatively the same.
Continue
https://cointelegraph.com/news/bitcoin-development-similar-to-1800s-gold-rush-expert
As was the pattern during the actual gold rush of the 1800s, while some people took the risk and spent their time looking for gold, other folks watched on non-judgmentally and lucratively supplied the "picks and shovels" that enabled the fever-pitched masses to take a shot at "striking it big."
Drawing on some similarities and contrasts between the actual "gold rush" and the new "digital gold rush" provides a good framework to describe how industries today are being impacted by Bitcoin.
Bitcoin evangelist and technologist Melvin Petties explains how the emergence of Bitcoin has given rise to different kinds of related endeavors, pointing out the attitude of some key players and the impact on the crypto ecosystem.
Picks And Shovels Model: Industries That Make Equipment
According to Petties, in the olden days, the absolute quantity of precious metal was not known so the risk of participation was greater. The big rewards were random yet impactful - whole towns were built from major gold strikes, which made the lure to participate even greater. People from all walks of life, even the very poor, were compelled to participate and their chances of success were arguably relatively the same.
Continue
https://cointelegraph.com/news/bitcoin-development-similar-to-1800s-gold-rush-expert
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