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Interesting comparison between Bitcoin and the internet. The Umlaut published an article outlining a similar theory: (http://theumlaut.com/2014/01/08/bitcoin-in

Interesting comparison between Bitcoin and the internet. The Umlaut published an article outlining a similar theory: (http://theumlaut.com/2014/01/08/bitcoin-internet-of-money/ http://theumlaut.com/2014/01/08/bitcoin-internet-of-money/) using the same terminology (transport layer) and describing Bitcoins as the "internet of money". I noticed an interesting comment on the O'Reilly article: "The second problem is that we have yet to expand bitcoin beyond the control of virtual assets. Virtual assets do not physically exist and therefore it is the ability to represent these assets within multiple computers across the network which give bitcoin its decentralized nature. These virtual assets also have to have real world value to everyone, without value, there exists no economic incentive (block rewards and transaction fees) for securing the network through computation." This analysis of Bitcoin as the "internet of money/finance" is kind of reminiscent of the "internet of things" movement, that, according to inept marketing departments, is guaranteed to revolutionize our lives in short order. Do we have the need/infrastructure in place for an "internet of money" or an "internet of things" to emerge? Do these terms even hold any weight? Would love to hear any opinions.

tlrobinson 13y ago
While there’s an element of marketing-speak to this, I think it’s instructive to try to apply the idea of “Internet of [whatever]” retroactively. The internet originally was essentially the “Internet of Communication” (email) and “Internet of Information” (FTP, then HTTP). Advancements in technology enable new use-cases over time. * Internet of Commerce: mainstream adoption of the internet * Internet of Entertainment: broadband internet * Internet of Things: ubiquitous network-enabled electronics, with size and cost reductions driven by the smartphone revolution * Internet of Money: Bitcoin A corollary to “Software is Eating the World” could be “The Internet is Eating the World”. Any technology that enables one of these new “Internets” should be watched closely.

tlrobinson 13y ago

While there’s an element of marketing-speak to this, I think it’s instructive to try to apply the idea of “Internet of [whatever]” retroactively. The internet originally was essentially the “Internet of Communication” (email) and “Internet of Information” (FTP, then HTTP). Advancements in technology enable new use-cases over time. * Internet of Commerce: mainstream adoption of the internet * Internet of Entertainment: broadband internet * Internet of Things: ubiquitous network-enabled electronics, with size and cost reductions driven by the smartphone revolution * Internet of Money: Bitcoin A corollary to “Software is Eating the World” could be “The Internet is Eating the World”. Any technology that enables one of these new “Internets” should be watched closely.