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Civilization-level innovations like crypto can trigger structural shifts in society. This is evident from history. Let’s take the internet era, which you all have experienced, as an example to make it clear.
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This is an article published on May 31, 1999, in Forbes magazine, titled “Dig more coal – the PCs are coming,” written by Peter W. Huber and Mark P. Mills. You can find it by searching for keywords “Forbes” and “Dig more coal.” This article claimed that the internet era of personal computers would become an “internet burning up a lot of fossil fuels,” putting the world on a dangerous energy trajectory. The key example mentioned at the beginning of the article: Every time you order a paper book on Amazon, a lump of coal needs to be burned to provide the energy.
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Imagine if entrepreneurs, investors, and developers at that time really heeded Forbes’ advice and stopped building the internet. What would the world look like today? It’s pretty hard to imagine because you are standing at the end of history - looking back, it seems like a natural trend for the wheel of history to move forward.
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