Let us recap Tech shares after 2000 (opinion)

Let us recap Tech shares after 2000 (opinion)

last year. But it is not the end of cryptocurrency. Like the internet after the DOT Com bankruptcy, crypto is only at the beginning.

Sure, it is true that several crypto companies have decreased in 2022. But it seems to be worse in the headlines than it is actually. The critics of cryptocurrency in news journalism and the traditional financial industry treat the failure stories as representative of the entire industry.

The cryptocurrency community likes to use the term "fud" to describe the spread of negative crypto messages. In a way, this is natural and understandable in terms of vigilance, transparency and threat detection.

fud is an acronym to describe crypto messages or social media contributions that contribute to perceptions and feelings of fear, uncertainty and doubt. While the FUD can start discussions on Twitter or YouTube and promote commitment, they rarely inform about current threats and weaknesses.

crypto critics continue to arouse doubts

At this point, the inevitability of crypto for anyone who is informed about the facts about cryptocurrencies and the latest techniques and products in the global financial market is difficult to question.

Scaramucci is part of a series of crypto junkies-managers and employees of top-class stock exchanges, intermediaries and technology companies-which are here in this Swiss ski resort to try to convince investors and potential supporters that, despite the almost complete collapse of industry this autumn, everything is fine. "

There is simply no sense in these words "almost complete breakdown", that's right. The crypto industry did not collapse almost completely last autumn. Another company in the cryptocurrency industry, a new venture startup company in an innovative technology area, went out of business.

The internet never stopped growing after the Dotcom crash

But the production of crypto networks during the 2022 crypto winter did not come to a complete breakdown. They didn't fail. They didn't even fluctuate. The Bitcoin Hashrates and difficulty continued to increase during the crypto winter. The miners of the network continue to find a new block every ten minutes and carry out transaction orders for addresses.

The activities in the Bitcoin network remained robust. New active BTC addresses every day were the image of a healthy, globally scaled use of digital platforms. The most popular Altcoin, Ethereum (ETH), recorded the same robust growth in staking and network use.

But crypto has not almost disappeared last year, and it is also not a “pet rock”, as Jamie Dimon recently scoffed.

compare

The future skill of crypto today looks like those of the Internet in 2000. Even after several Dotcom shares were crashed and burned down in a much-discussed media spectacle. The parallels are almost scary.

In 1999, the Internet had the same kind of criticism in the media that crypto has today. They said it was a temporary fashion. They complained that it was too chunky and difficult to use. The public first viewed the Internet as a nice toy for computer nerds.

But they didn't see his potential to connect the whole world. You don't see the expected future value today to make this global connection fairer and safer.

Most people did not invest in "tech shares", even after everyone and every company began to keep the Internet within reach within about a decade after the Dotcom-Crash.

In 2000, the fud pieces flew through the Internet. They said it was a place for fraud, transfer fraud and exaggerated companies that don't really produce anything. Not that what they talked about was completely wrong.

They reported facts, but not really to sort them efficiently and put them in their greater context in order to better inform their audience.

from failure to world design

The newspapers triggered a small panic in public over the year 2000 bug, as if it were the end of the Internet.

Today they use the Internet for their distribution. But the same organizations used to mock the Internet on huge, folded paper pieces that were delivered to the people by a truck.

Many investments made in an economy of the late 90s that came up with capital and low-interest financing at the height of DOT COM mania were not advisable. They burned as the stock market corrected.

But it was not really difficult to notice some of the internet companies that would win in the next few decades. Some DOT coms had customers and income. Others had a Dotcom website with some pictures and their email address, but without customers or sales.

Amazon, for example, was a much-noticed internet success story when the Internet was still new. It has a sharp business model and a founder. This Dotcom made more books available to its customers than any other bookstore in the world. Then they sent their order directly to them and took care of their customers.

AMZN worth only $ 1,000, which was bought for $ 18 per share during its in 1997 IPO, had a market value of over $ 2 million in 2021. That was just a little more than two decades later.

Many cryptocurrencies are as scaled as the Amazon share in a much shorter time.

A lot of developer interest in the 2020s is located in crypto

Young developers in 1999 wanted to create all Dotcom websites and video games. At the end of the 2000s they wanted to develop all mobile apps and video games.

At the end of the 2010s they wanted to develop all cryptocurrencies and defi apps (and video games).

Really talented computer science students, creative entrepreneurs and clever risk capital providers are just as enthusiastic about cryptocurrencies as the same businessmen from the Internet.

The advent of the digital network itself led to a global connection revolution. This was characterized by the fact that you could copy so much digitally. In addition, digital computer copies were super fast, super quick to send all over the world, and all of that was super affordable.

There was a flood of digital abundance.

cryptocurrency is the next step in this connection revolution. Blockchain is an industry that supports the global computer network by reliably producing digital scarcity and securing it to its owners.

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