Murtaza Hussain pfp
Murtaza Hussain
@mazmhussain
I don’t think it really make sense to say cryptocurrency and blockchain are early at this point. The concept has had implementation for a decade and a half now, and the valuation of the assets have already had multiple boom and bust cycles. They may go higher still, but this doesn’t seem to have a necessary connection to practical utilization. Blockchain-based currencies have shown great utility in helping people evade of capital controls, and yet there has been reticence to otherwise use blockchains when databases work well enough. There is still a persistent sense of “earliness” because a new project is always being spun up. Yet it may be that we have reached the peak of utility. Nonetheless I always keep an open mind, and this is why I still play around with it today. Ironically the major exception in my mind could be Bitcoin, as it does have some of the monetary characteristics of gold that could prove useful one day. For this reason I always keep some Bitcoin and recommend others do so as well.
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vrypan |--o--| pfp
vrypan |--o--|
@vrypan.eth
We are early in the same way we were early on Internet in 2000s. "Everything" was there, browsers, blogs, search engines, email and web servers. But it was early for Youtube, Facebook, Twitter, Netflix, mobile, Uber, WhatsApp, Instagram, Airbnb, and everything else that comes to mind when we think of the Internet today. Cloud and dynamic web apps were just starting to appear. Online payments were rocket science and few could actually use on their websites.
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Murtaza Hussain pfp
Murtaza Hussain
@mazmhussain
It’s possible but I’ve been hearing this thing about it being 2001 internet since 2019
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vrypan |--o--| pfp
vrypan |--o--|
@vrypan.eth
It's not so much about time (years) as much as phases. Personally, I feel the same way as when I was testing the early versions of blogging engines in mid-2000s: the potential is there, I can feel there are great things around the corner, but we are just guessing what it is (and we're probably off). I also see more high-level trends that seem to be aligned with the promises of blockchains (a new type of source of trust), such as cracks in military, political, ecomic and even scientific status quo, that weaken or break current trust structures our world was built on.
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