These bubbles look very much the same,
but are also so very different
It's just my opinion, but...although I see some similarities between the dotcom bubble and the CryptoCurrency bubble, I also believe there is big differences here. I argue that the time investment and brain power needed to really start learning and understanding crypto, is much greater than the time investment and brain power that was needed to understand and use the internet in 1999.
I remember first learning about and using the internet. It was around for quite awhile by 1999, but this was the year of Napster
Oh my God, free music! Are you kidding me?
There was finally something that everyone wanted and used, and they didn't have to read volumes on how it operates. In contrast, I'm not sure if crypto has found its Napster...yet.
CNN Special Report on dot.com Bubble, recorded in 1999.
An important quote here:
"Sales online are only a sliver of total retailing. And among Fortune's top 100 companies, there is not a single dotcom."
People are tight with their money, but they are also very tight with their time. This year of 2018, might not be the year of crypto. There is so much to come out and so much more to complete testing. I can see the paradigm shifting, but momentum is really only just getting started. I'm happy and grateful that platforms like Steemit have arrived. I don't think that Steemit is the Napster for crypto, but it is certainly a step in the right direction.
Bitcoin jumps 1000% this year
An important quote here:
"...bitcoin is the widest, most important deployment of cryptography to individuals in the history of the world"
Problem is, Steemit is also pretty complicated. You don't have to study cryptography to use it, but let's face it, when it comes to time and money, people want to know what's up. I can relate to the bitcoin naysayers in some aspects. I personally have great interest in CryptoCurrency. I am not formally educated in Mathematics, but it greatly interests me. Cryptography greatly interests me.
The average person does not give a rats ass about most of this stuff. I can relate. I really can. I'm not into the idea of having to learn about shit that doesn't interest me. So I can relate. Throw in concepts of money, now you have people that get angry about bitcoin. Not only do they have to spend time learning about crypto, it's going to cost money too!
My new approach to teaching and spreading the word about crypto: I'm not going to waste time arguing about the pros and cons, I'm just going to give direction to those who do really want to pursue this venture. It's not easy. Even if you don't directly participate or invest, there is a pretty significant time investment in researching. Furthermore, there is something new to learn about, pretty much every day. So if you want to jump into some material, here are some videos that I have found helpful.
Personally my favorite Bitcoin educator and personality:
How likely is it that Bitcoin will become obsolete? Andreas M. Antonopoulos
In addition, here are some really cool and well done videos about cryptography:
Public key cryptography - Diffie-Hellman Key Exchange (full version)
Public Key Cryptography: Diffie-Hellman Key Exchange (short version)
Thanks so much for paying attention.
Have a glorious day and God bless.