Bitcoin Is Like The Internet In 1995

in #bitcoin4 years ago


InternationalMan's Nick Giamburno is a strong advocate of international diversification - such as holding multiple passports and offshore assets. It frees you from absolute dependence on any one country. In short, international diversification minimizes the State’s power to coerce you. Bitcoin is an important part of this strategy. It’s an inherently international asset.

Bitcoin has incredible value as an international transfer mechanism. You can take any amount in and out of any country. You don’t need permission from any government.

You can send it across any border—or any number of borders—as often as you want. And there’s nothing anyone can do about it.

I’ve seen this firsthand in Latin America, where bitcoin helps people get around capital controls. (Governments use capital controls to trap money within their borders so they have more to steal.)

Bitcoin helps people bypass these restrictions. That’s because governments can’t freeze, seize, or block the transactions.

This is why bitcoin is such a disruptive and exciting technology, and why bitcoin should be a critical tool in your international diversification toolkit.

Bitcoin’s use is set to explode… and it could make you a fortune. 

This Event Could Be Bitcoin’s “Mainstream Moment”

On August 9, 1995, the internet had its “mainstream” moment.

That’s when Netscape held its initial public offering (IPO) and released its web browser, Netscape Navigator, to the world.

At that point, the internet had already been around for 15 years.

Yet despite being one of the greatest inventions in history, the world was slow to adopt. In 1995, only 0.3% of the world’s population used the internet.

The internet needed a catalyst. And looking back, it was Netscape. The numbers back it up.

In 1995, there were 16 million internet users. Then Netscape Navigator came along. By the end of 1996, the number of internet users had more than doubled to 36 million.

And five years later, we reached over a half-billion users. That’s growth of over 100% annually.


The success of the IPO inspired the term “Netscape moment.” Today, we use the term to describe an event that signals the dawn of a new industry.

I believe we’ve already had our Netscape moment for another technology: bitcoin.

Now, it’s incredibly difficult to make predictions, especially without the benefit of hindsight. And I might be wrong.

Nevertheless, today I’ll tell you which key event over the past two years was bitcoin’s Netscape moment.

Bitcoin Is Like the Internet in 1995

Today, there’s an estimated 15 million–35 million bitcoin users. We’ll split it in the middle and call it 25 million.

That’s 0.3% of the population… similar to the number of internet users before its Netscape moment.

Like the internet in 1995, bitcoin continues to gain popularity.

The chart below highlights the key events of the last two years.


To me, one event stands out as bitcoin’s Netscape moment. That’s when Japan legalized bitcoin.

Bitcoin’s Moment

Since bitcoin was legalized, here’s what has happened in Japan…

  • More than 260,000 stores in Japan are rolling out bitcoin as a payment method.
  • Stores at famed electronics marketplace Akihabara have started accepting bitcoin.
  • Japan is setting up a bitcoin “testing hub” for fintech companies.
  • Leading Japanese bitcoin exchanges have unveiled plans to accelerate adoption.

It’s all leading to increased usage of bitcoin in Japan.

Volume on LocalBitcoins has accelerated since the law went into effect. And it had its highest volume week of the year the last week of June, topping 4.7 million yen (about $42,000).

Tokyo’s Sushi-Bar Numazuko Ginza 1st is an example of the growing popularity of bitcoin in Japan. The restaurant was one of the first to accept bitcoin payments.

The restaurant’s manager said there were only a few bitcoin payments per month two years ago. By March 2017, that number increased to about 70.

This quote from the restaurant manager sums it up best: “Japanese customers are using bitcoin more than we expected.”

How to Profit From the “Bitcoin Moment”

I think we’ll look back at Japan’s legalization of bitcoin as its Netscape moment.

Every day, millions of people are working on bitcoin to make it better. And its acceptance will only rise from here.

And just recently, South Korea announced it will regulate and legalize bitcoin. The trend that started in Japan continues unabated.

The best way to profit from this trend is simply to buy bitcoin.

Source : http://www.zerohedge.com/news/2017-07-26/bitcoin-internet-1995

Disclaimer : This is not the real Tyler Durden! I read ZeroHedge every day to find the one or two best articles and reformat them for Steemit. I appreciate the upvotes but consider following the account and resteeming the articles that you think deserve attention instead.  Thank you! Head over to ZeroHedge.com for more news about cryptocurrency, politics and the economy.     

Sort:  

Which means we have roughly five more years until we reach bubble territory! Keep on stacking

I remember being on the internet in the early '90s. At my university it was all newsgroup and usenet - all text based; at work at a large corp they were one of the first to have a intranet with forums and connection to the internet which was all usenet... the early days! A friend at work said to me: "Someday this internet thing is going to huge!". I just laughed.

Lots of folks were talking the Internet down in 1995, saying it was just a fad.

Buy stratis. Hold 5 years. Thank me later.

Stratis is interesting. What about NEO (Antshares ANS)? It also supports C# and .NET development and is rapidly gaining popularity in China.

Couldn't agree with you more, great post!

He just copied an article ;)

He states he does, and he curates Zerohedge to bring us good content. I find this useful.

You can send it across any border—or any number of borders—as often as you want. And there’s nothing anyone can do about it. @naz722

Thanks for this post. Very cool !!!

Very interesting comparison

So what this really means is 2017 will be the best year to invest into crypto currencies.

Counting the huge move already this year?? I'm not sure we will ever see all the coins running up like we saw in Apr-Jun this year ever again.

It is unfortunate. We hope this year could be better. What else like me just getting started. And still very poor @sky77

Thank you dear in advance , i voted for you can you vote for me please . :)

This is indeed the advent of something new:-) Great Post!

So informative thank you

And as John Mcafee said if bitcoin is not worth 500k per coin in 3 years he will eat his own D*#k on live television

Excellent post! 👌👏 Looking at the parallels between the internet and bitcoin/cryptocurrency is a pretty good indication of what's to come. #InCryptosWeTrust

I agree! But I think btc could run obsolete if eos delivers what was promesed.

Isn't EOS more of a threat to Ethereum since it offers multisig and more contract abilities ?

For anybody that remembers. The real advent of the internet wasnt the Netscape browser. It was the AOL CD you got as spam in your mailbox. I dont think bitcoin(blockchain) itself is like "the internet", if anything its like IP protocol and Ether(smartcontracts) are like tcp/udp. Nobody has yet made the html/web of crypto currencys. Sure there are a lot of things in the past that one can relate current events to but one should never forget how much knowledge goes into the basic access to cryptocurrencys goes at the moment, there is no "stupid" way to use coins or smartcontracts even by extension. Just think how many people do you know that dont work in tech that run there own server with own web-server stack and homepage? Only when myspace/facebook came did something like personal websites got to be a thing and web usage really took off.

Great post!

This is incredibly motivating and makes me remember that we are in the infancy of this and there is a great future ahead in blockchain technologies in general. Cryptocurrency is just the beginning.

https://steemit.com/crypto/@lukeallison/future-crypto-a-list-of-projects-with-purpose

Coin Marketplace

STEEM 0.41
TRX 0.06
JST 0.044
BTC 38361.00
ETH 2334.54
USDT 1.00
SBD 6.99