Friday, 5 February 2021

Do people talk about bitcoin now the same way that people talked about the internet in the 80s and 90s?

I feel like there are a lot of parallels and they are both equally polarizing.

In the 80s and 90s, there were many on the right side of history who predicted the internet would completely revolutionize the way we live.

On the other side, there were people like Paul Kaufman, who infamously said in 1998: The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'–which states that the number of potential connections in a network is proportional to the square of the number of participants–becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's."

There are equally powerful voices talking about bitcoin now. Musk, Saylor, etc. on one side, then Buffet, Schiff, etc. on the other.

Do you think it’s the same situation where bitcoin’s impact on society will be beyond what any of us could ever imagine?

submitted by /u/sisyphusPB23
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