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> Not trying to be pessimistic but genuinely curious why so many people make the analogy to the dot com period. Because most people are not creative nor critic
by kindfellow92 9y ago
> Not trying to be pessimistic but genuinely curious why so many people make the analogy to the dot com period.
Because most people are not creative nor critical thinkers and the extent of their brilliance is superficial pattern matching. To most people the dot-com bubble seems to fit all the patterns so by their logic it must have the same outcome. If you think critically about the differences of the crypto craze and the dot-com era, you’ll see how irrational it is to make a strong comparison.
Bitcoin is not Pets.com. Bitcoin is Google.
- adrianmsmith 9y agoI don’t think Bitcoin is Google, with the limit of 7 transactions per second, it just can’t scale enough to be the Google of currencies.
- kindfellow92 9y agoDo you think the only thing that makes cryptocurrencies valuable is transaction rate?
- joeyspn 9y ago> Bitcoin is Google. I'd say it's probably AltaVista or Yahoo!...
- newsbinator 9y agoIt's hard to say 'Bitcoin is x'. Perhaps the Bitcoin/Cryptocurrency situation is a close repeat of the dot-com boom/bust/rebirth. Perhaps it's a close repeat of Tulip Mania. Or perhaps it's a new category, and the rise of the next technology a decade from now will be a callback to what happened with Bitcoin. This'll all seem obvious in a year or three. For now, we speculate and wait.
- Nursie 9y agoOr there may not be any long term winners in this arena as people realise just how bad most if this stuff is for actual transactions and consumer protection.
- Simon_says 9y ago> superficial pattern matching. > Bitcoin is Google. Is this satire?
- yen223 9y agoGoogle provides a valuable service that saves me time. Bitcoin, uhh...
- kindfellow92 9y agoIf you can’t see how Bitcoin provides millions of others a valuable service, you have a poor imagination.
- Nursie 9y agoPlease do explain this service! Because as far as I can tell it's got no real utility outside of speculation.
- kindfellow92 9y agoHow about the ability to move large sums of money around the world without having to trust or be limited by any government or bank?
- Nursie 9y agoNot really that useful to many millions of people IMHO.
- kindfellow92 9y agoMillions, yes it is... the world is a lot bigger place than you think it is.
- Nursie 9y ago
- Chris_Jay 9y agoI would liken it to Apple myself. First mover advantage does count for quite a bit in software.