Topic: Are Bitcoin and Crypto Really Like the Early Internet? - page 2. (Read 564 times)
yes right, crypto and internet look the same. at the beginning of the internet there were many people who did not understand, but slowly began to develop and be adopted throughout the world. bitcoin is also like that, many initially doubted. but look today, btc became something valuable. and slowly but surely the whole world began to adopt it.
Currently BTC many people see it as a step forward on cryptocurrency but since Wed 3.0 was born they compare it to this wed 3.0 platform as a new type of BTC improvement and make BTC sometimes become the limit. more institutionalized and BTC is the first primitive coin of the cryptocurrency that doesn't seem to be as technologically advanced as some of the later improved cryptocurrencies.
Bitcoin is even better than internet was back in the days because more people are now using Bitcoin than people used internet after same years of existence, and it's just getting started.
Imagine few more countries adopting Bitcoin as legal tender like in El Salvador and all dominos will fall in other countries, and number of Bitcoin users will increase a lot.
Imagine few more countries adopting Bitcoin as legal tender like in El Salvador and all dominos will fall in other countries, and number of Bitcoin users will increase a lot.
Block chain and Bitcoin are here to stay and can even surpass the progress made by internet in future. I think Block chain is the basis of Bitcoin creation so blockchain so it is more important and it will be used in all aspects of our daily life in coming months and years. It is a wonderful technology and capable to bring out a positive change in all industries including Travel/tourism and health care.
it's deeper than the internet, but bitcoin is still not trusted by everyone, in contrast to the internet that is properly trusted and used by everyone, and the internet is also now very broad in reaching all information, while bitcoin focuses on the financial industry, it is possible that it will be the same as the internet in the future.
Well I think they really are like the early internet. The hype and the volatility of the market resembles the early internet. Aside from that, the rampant scam projects that flocks in the crypto industry and the crazy ideas on integrating anything to blockchain technology is the same during the early internet.
I don't think it is like the early internet, as most opinions have pointed out. What I do believe is that in terms of adoption we are where the Internet was in 1995-2000. This market still has a lot of growing to do.
If you’ve been following Bitcoin and crypto for more than a few months, you will have almost certainly heard someone comparing cryptocurrency — and blockchain — to the early internet. Well, there are many parallels between cryptocurrency today and the internet at the turn of millennium, not least in terms of both resulting in bullish market activity that skeptics regard(ed) as a bubble. However, it’s still far too early to say just how impactful cryptocurrency will be, and it’s arguable that the data comparing crypto to the internet has been misinterpreted and exaggerated.What are the similarities and differences between the two.
Some tweets comparing cryptocurrency and the Internet:
In some certain extent they are two major difference thing between blockchain and internet, without been told, internet has been in existence before a blockchain no matter the connectivity of cryptocurrency blockchain, in this scenario we all aware that internet is information storage while blockchain just focus on data, record of cryptocurrency but specifically bitcoin, so the comparison is so simple and quite understandable to human comprehension, further more it's obvious that bitcoin which sub branches of cryptocurrency can't do without the application of internet, all the processor of blockchain rely on internet. Some tweets comparing cryptocurrency and the Internet:
In my opinion, the term bitcoin we can say it a blockchain , which is at some position called the early internet when it was first introduced. That was the point it is likely the early internet for which we can say that crypto is also in the same position.
In my opinion, i think that the blockchain network is what is actually comparable to the early internet, bitcoin and cryptocurrency are just the early application of this network, but the possibility and the chances that this new technology offers is beyond we can imagine, the blockchain system can replace every way we interact with each other, and starting with things like smart contracts and payments and govermment documments, and this is already taking place.
If you use the Internet, anyone with a connection can get information for free. Bitcoin provides financial sovereignty in the same way. Bitcoin separates money from institutions and central authorities, and the Internet separates information from institutions and central authorities.
People,who are comparing cryptocurrencies to the early internet and usually comparing the dotcom bubble with the cryptocurrency price bubbles.They are simply comparing market price trends and patterns,not the technology.
Blockchain technology couldn't exist without internet,so comparing blockchain technology and internet is like comparing an egg to a chicken.
Internet is the foundation and the blockchain technology is one of the additional layers of technology over that foundation.
Blockchain technology couldn't exist without internet,so comparing blockchain technology and internet is like comparing an egg to a chicken.
Internet is the foundation and the blockchain technology is one of the additional layers of technology over that foundation.
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If you’ve been following Bitcoin and crypto for more than a few months, you will have almost certainly heard someone comparing cryptocurrency and blockchain — to the early internet.
Don't think bitcoin stands a chances against the internet but if we were to used a more worthy opponent (The cryptocurrency) then we can have a fair completion. Here's what I think, comparing the two came as a result of people not believing them both when they started but in future will be needed for an effective operation of businesses as all businesses will have to rely on them.
Which is why I said using Bitcoin for the comparison won't be a fair one because they're already alternative to bitcoin with the numerous altcoins getting adoption all over so probably if the term cryptocurency was used it'll be more debated.
Both industry have a similarities and they'll end up in the same way dominating their respective fields. Cryptocurrency (hopefully Bitcoin) will take it's rightful place as the king of commence on the internet as it'll be widely accepted as a means of exchanges for goods and services. It's inevitable and just a matter of time so there's no need fighting it as it's already a lost battle.
I think bitcoin and crypto users will surpass the user growth performance compared to internet as years pass.
Sorry but do i understand this correctly ? Surpass the users growth ? lol do you really know how much internet users compared to crypto users?
even you are using internet almost half your life but are you using Crypto even 1 hour per day?
I think we can say crypto currency and especially bitcoin have the same potential internet had during its early years. The point is how crypto currency and bitcoin are going to be changed or improved along the years, as internet has been. I believe the main aspect of crypto we know right now, that is decentralization, won't last for too long because centralized institutions have already plans to introduce their governance over digital currencies and those which they can't control are going to be more heavily regulated each new day.
We can say internet aged well through so many years and implementations, but could we say the same about crypto currency in a near future?
We can say internet aged well through so many years and implementations, but could we say the same about crypto currency in a near future?
As a technology you can't compare the two. They are too different, at least in their current implementations. However, as hinted at above when someone says Bitcoin is like the internet, they aren't trying to compare the two's technical aspects. Instead, they are comparing it to that people will rely on it in the future.
The internet, from its very invention boomed. Now, these days a lot of industries, and people rely on the internet for literally everything. Whether that be their job, hobby or to play games. Literally everyone has a use for the internet. Does Bitcoin have a use for everyone? Well, when there's alternatives that exist like fiat currencies, probably not. Not everyone is interested in the decentralized nature, and not everyone wants to be responsible for their own money. You can question their judgement all you want, but I think its still accurate that not everyone will have a use for Bitcoin or cryptocurrencies in general, unless Bitcoin becomes the mainstream currency people use on a daily basis. However, Bitcoin is far from that at the moment, so at the moment we can't really compare the two, at least without any data backing up our claims.
The internet, from its very invention boomed. Now, these days a lot of industries, and people rely on the internet for literally everything. Whether that be their job, hobby or to play games. Literally everyone has a use for the internet. Does Bitcoin have a use for everyone? Well, when there's alternatives that exist like fiat currencies, probably not. Not everyone is interested in the decentralized nature, and not everyone wants to be responsible for their own money. You can question their judgement all you want, but I think its still accurate that not everyone will have a use for Bitcoin or cryptocurrencies in general, unless Bitcoin becomes the mainstream currency people use on a daily basis. However, Bitcoin is far from that at the moment, so at the moment we can't really compare the two, at least without any data backing up our claims.
Bitcoin is even better than internet was back in the days because more people are now using Bitcoin than people used internet after same years of existence, and it's just getting started.
Imagine few more countries adopting Bitcoin as legal tender like in El Salvador and all dominos will fall in other countries, and number of Bitcoin users will increase a lot.
Imagine few more countries adopting Bitcoin as legal tender like in El Salvador and all dominos will fall in other countries, and number of Bitcoin users will increase a lot.
To get a better conclusion, i would suggest to change the concept "Crypto" by the term "Blockchain" so we can make a fair comparison. As crypto impact are somehow limitd to financial use while the blockchain revolution may be more huge than the internet itself aat it's early years .
Actually, and even by this mass adoption for cryptocurrencies, i think it's somehow similar to the Amazon at its early days with the same number of users actually crypto has, as described in the second Tweet mentioned in OP .
Comparing cryptocurrency to the Internet may be a somehow shallow channeled comparison as the latter comprises a more holistic body of network why the latter is only focused on financial services provision, as this user has rightly said it’s better to compare blockchain with the Internet to get a better index to base our arguments. Actually, and even by this mass adoption for cryptocurrencies, i think it's somehow similar to the Amazon at its early days with the same number of users actually crypto has, as described in the second Tweet mentioned in OP .
As you can see, it's working like that gradually but the only thing we cannot say that they have a similar comparison is, the Crypto industry is not yet fully recognized. however, it's currently on its way to being like the internet nowadays where most of the people using it. Gradually we can reach out to that stage if the years to come will be less of that banning by China and fewer negative tweets by those who have some huge followers on Twitter. anyway, most likely it will happen since whatever things they throw on it, it keeps adjusting and continue to get some publicity.
This is an interesting thread. A stumbled upon a chart recently made by Documenting Bitcoin, taken from research by Crypto.com, which seems to suggest surprising growth. The premise of the analysis is that Bitcoin users are roughly the same as the Internet was in 1997. According to this research if they were to maintain these growth rates, +80% annually approx, by 2024 cryptocurrencies will have about 1 billion users. Over the next few years, it is assumed that Bitcoin and cryptocurrency users could reach 3.7 billion.
https://twitter.com/DocumentingBTC/status/1408072160095215620
https://twitter.com/DocumentingBTC/status/1408072160095215620
Bitcoin and crypto has more space to grow but they currently are not like the early internet. Internet requires infrastructures and education efforts.
It takes 2 or 3 decades to bring the Internet over the world but blockchain nowadays can be more easily accessed. Anywhere you have Internet access, you can learn about blockchain and can use it. With blockchain, you don't need to build up more infrastructures beside the Internet.
Developers code, launch a blockchain and everyone can use it.
It takes 2 or 3 decades to bring the Internet over the world but blockchain nowadays can be more easily accessed. Anywhere you have Internet access, you can learn about blockchain and can use it. With blockchain, you don't need to build up more infrastructures beside the Internet.
Developers code, launch a blockchain and everyone can use it.
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