Re:Andreessen on Crypto
by arcturus17 on Sunday June 27, 2021 @06:00PM
(#27655874)
My dad in Spain, which was an internet backwater back in the day, was buying books from Barnes & Noble circa 96. I was downloading songs off Napster around 98.
The dot com bust, which was around 99/00, was a build-up of huge economic expectations around the internet indeed. Granted that this bubble was mostly caused supply-side (many companies barely had users), but the internet as a whole had millions and millions of users, ~250M circa 99 [1], carrying out all sorts of activities.
Whether most end-users were aware of its true potential is irrelevant - the comparison to crypto, both in terms of timelines (13 years and counting with few applications to show for it) and usefulness, is preposterous.
The dot com bust, which was around 99/00, was a build-up of huge economic expectations around the internet indeed. Granted that this bubble was mostly caused supply-side (many companies barely had users), but the internet as a whole had millions and millions of users, ~250M circa 99 [1], carrying out all sorts of activities.
Whether most end-users were aware of its true potential is irrelevant - the comparison to crypto, both in terms of timelines (13 years and counting with few applications to show for it) and usefulness, is preposterous.
[1] https://stats.areppim.com/stats/stats_internetxfcstx2017.htm