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The internet native versions of previous offline technologies have a long history of revolutionising their respective industries. MP3, video codecs all internet

The internet native versions of previous offline technologies have a long history of revolutionising their respective industries. MP3, video codecs all internet/computer native versions of things that already existed offline but which have swallowed entire markets. I wouldn't bet against cryptocurrencies doing the same thing, that's not to say I know how they're going to do it.

simias 9y ago
The added value of having access to these things online seems obvious though. It just took a while until the infrastructure was here to allow it (good luck streaming 4k video in 1995). Bitcoin is mostly here already, it sorta works. And then what? Besides speculation, illegal activities or simple curiosity, why would I bother? What's the blockchain's Youtube, what's the killer app? What will it let me do that I can't do today with my Visa card, except lose all of my money if I mess up?
- dageshi 9y ago
  Back in the day nobody could really build an actual profitable business out of mp3, but there's a bunch of industries that've come from mp3 eventually that nobody could quite forsee at the time. Who'd have thought people would give up owning music in exchange for streaming? Who could predict podcasting would grow into such a huge thing? Nobody could tell you what to do with an mp3, nobody could tell you what you could or couldn't put in it or what you could play it on (licensing I know... but you take my point). Mp3 gave everyone the ability to experiment with audio and distribute it in a way that was incredibly difficult before. Crypto currencies do the same I think for money, they are an internet native version of something and that "internet nativeness" implies a level of creativity, flexibility and speed of iteration/evolution that can't be matched by offline equivalents. I understand the questions you're asking and really I have no answers, but I think the "internet nativeness" of something like crypto currencies is not to be underestimated and I think it's why there's so much interest in the area.

simias 9y ago

The added value of having access to these things online seems obvious though. It just took a while until the infrastructure was here to allow it (good luck streaming 4k video in 1995). Bitcoin is mostly here already, it sorta works. And then what? Besides speculation, illegal activities or simple curiosity, why would I bother? What's the blockchain's Youtube, what's the killer app? What will it let me do that I can't do today with my Visa card, except lose all of my money if I mess up?

dageshi 9y ago
Back in the day nobody could really build an actual profitable business out of mp3, but there's a bunch of industries that've come from mp3 eventually that nobody could quite forsee at the time. Who'd have thought people would give up owning music in exchange for streaming? Who could predict podcasting would grow into such a huge thing? Nobody could tell you what to do with an mp3, nobody could tell you what you could or couldn't put in it or what you could play it on (licensing I know... but you take my point). Mp3 gave everyone the ability to experiment with audio and distribute it in a way that was incredibly difficult before. Crypto currencies do the same I think for money, they are an internet native version of something and that "internet nativeness" implies a level of creativity, flexibility and speed of iteration/evolution that can't be matched by offline equivalents. I understand the questions you're asking and really I have no answers, but I think the "internet nativeness" of something like crypto currencies is not to be underestimated and I think it's why there's so much interest in the area.