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While the clunky UX and low speed of bitcoin and other cryptocurrencies definitely remind me of packet radio of early 90s, it was pretty amazing to transmit dat
by dharma1 6y ago
While the clunky UX and low speed of bitcoin and other cryptocurrencies definitely remind me of packet radio of early 90s, it was pretty amazing to transmit data wirelessly like that, and now we have 4g (and soon 5g and satellite internet) everywhere. I definitely don't think we are at early IRC/netscape/email level experiences yet.
I think you can also only stretch the analogy so far through, and like others have commented I think the future of decentralised cryptocurrencies has more to do with the actions of central banks and the phase of the fiat mega cycle we are coming to.
There has to be a stable store of value that also works well as a currency, and these days it has to be digital. I don't know if it will bitcoin - it's too volatile and not particularly good as currency - but there will be something. Perhaps it will be backed by something physical with finite supply, or perhaps by just algorithms - we will find out. Sometimes I wonder what advanced enough AI would use as a medium of exchange and a store of value - if anything?