In the late 90s pretty much everyone realized that the internet provided the space within which the future of the world's commerce and communications would take place. The excitement of that realization fueled the single largest investment of funds and effort into a single industry that the world had ever seen. But all of that zeal was monetized before a few very critical questions could be answered:
1. How do you know who you are communicating with or transacting with on the internet?
2. Who is in charge of keeping track of all of the activity?
3. Whose rules do you use when communications and commerce cross borders?
The fact that none of these questions were answered (at all, not even a little bit) before the money started flowing in certainly explains at least part of why the dot com bubble occurred.
Since then, those questions have been answered by various flavors of third party trust which has allowed continuous growth of commerce and communications on the internet. But Cryptography now answers all 3 of those questions more elegantly and without the need for trust.
1. Private keys confirm identity
2. The blockchain provides a limitless but immutable and auditabke ledger of activity.
3. Smart contracts and Dapps obviate jurisdictional legal enforcement of peer to peer interactions.
So, what everyone knew was going to happen 20+ years ago can now happen. Of course it's impossible to predict whether it will be Bitcoin, Ethereum, Ripple, or some other crypto currency that provides the framework.
Last edited by Irieguy; 05-21-2017 at 04:09 PM.
Reason: I don't really care which crypto wins
What are the best exchanges for buying alt coins with credit cards? I'm regularly churning credit sign up bonus and don't mind eating 3-5% fees when im working off 3-5k initial spend for the bonus.
I know coinbase for ltc/btc/eth. What about other alt coins?
What are the best exchanges for buying alt coins with credit cards? I'm regularly churning credit sign up bonus and don't mind eating 3-5% fees when im working off 3-5k initial spend for the bonus.
I know coinbase for ltc/btc/eth. What about other alt coins?
If you want to buy alts just buy btc on coinbase send it to Polo and trade for alts.
Seems like an absurd jump to me just based on that news. It's starting to feel like the dotcom bubble all over again. How high can we go before a correction happens?
Seems like an absurd jump to me just based on that news. It's starting to feel like the dotcom bubble all over again. How high can we go before a correction happens?
Dot com had every individual going to their broker and telling them to buy the new tech stocks. Institutional money was heavily flowing.
Here, there is no institutional money and very very few individuals even know what crypto is let alone how to get it.