Bitcoin like the Internet In 1995

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Bitcoin like the Internet In 1995

At only five years old, bitcoin
is receiving more venture capital investment than early stage Internet
companies were in 1995. Remember what the Internet was like in 1995?
If you have 27 minutes to refresh your memory, YouTube has a Computer Chronicle video showing what the 1995 Internet
looked like. If not, the piece discusses how hard it was to stream
video, how there was no safe way to process credit cards, how ugly the
websites looked and how slow the Internet was.
Things seemed so grim. In 1995 Newsweek ran a piece: “Why the Internet will Fail.”
Sound familiar? These are the same arguments against bitcoin: hardly
anyone uses it, it isn’t safe, and it is hard to use. However digital
currencies are so much cheaper, more convenient and more powerful than
their analog counterparts that, like the Internet, their widespread
adoption seems assured.
Which digital currency will triumph? Hundreds or even thousands of
competing digital currencies have entered the market. So far none has a
clear shot at overtaking bitcoin. Bitcoin’s network effect is growing at
a fast rate, making its dominance even more likely.

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