Comparing the crypto boom to the 90’s tech boom.
The total market value of cryptocurrency has increased from $18 billion at the start of the year to over $300 billion today. Sometimes it seems like everyone is talking about Bitcoin, yet less than 1% of the world owns any. Cryptocurrency today is similar to the tech boom in 1994.
Bitcoin and Email
For 15 years, email was mostly a toy for engineering hobbyists and a small number of scientific researchers. It wasn’t until the late 1980s that email began to enjoy meaningful commercial use, and not until the mid 1990s for widespread retail use. To make the jump from hobbyists to commercial and then average retail users required three factors.
First, the technology itself had to be developed to a point that it was standardized, stable, and had features valuable to users. Second, user interfaces had to be developed to make email approachable to non-engineers. And third, the user base had to grow over time; the more people that use email the more valuable it is to each user, and this virtuous cycle of adoption takes time to play out.
Source/More: It’s 1994 In Cryptocurrency