Bitcoin has revolutionary potential: it deserves its place next to gold and currencies and could be as groundbreaking as the PC or the Internet as a technology.
The author of the book „Bitcoin Billionaires“ even believes, based on his extensive experience with the social network, that the crypto currency could change the world as dramatically as Facebook.
But to what extent is there something to it – and could Bitcoin’s potential be even more far-reaching than everyone expected?
Crypto as influential as internet and pc?
There have been few assets or technologies as polarizing as Bitcoin. Some believe he will save the world from itself and from ongoing problems such as wealth inequality and greed. Others call it rat poison and criticize the principle at every opportunity.
Opponents include Warren Buffett, Peter Schiff and Jamie Dimon; proponents include Twitter CEO Jack Dorsey, Cameron and Tyler Winklevoss, and some of the most brilliant young entrepreneurs today.
Marc Andreessen, venture capitalist and a key figure in the dot-com boom and growth of the internet, says Bitcoin is just as important as the internet or the personal computer before it, and like these technologies, they need time to show their true potential .
There was a time when people called email „unnecessary“ and said nothing would replace people’s daily newspapers
Another recent comparison was made by someone incredibly close to both examples, who says that the leading cryptocurrency by market cap could one day be as earth-shattering as Facebook.
The quote comes from the „Bitcoin Billionaires“ author Ben Mezrich, who can speak from experience on both topics. The book is reminiscent of the Winklevoss twins‘ first foray into crypto currency, who invested large sums in BTC early on.
Cameron and Tyler were no strangers to early technological breakthroughs and, alongside Mark Zuckerberg, pioneers in the early days of what would eventually become today’s Facebook.
Mezrich also wrote the novel The Social Experiment, which is based on this experience and formed the material for the film of the same name.
Bitcoin can, in a sense, be viewed as a financial experiment. And like Facebook before, innovation can be used to change the world – if the experiment is successful and the right believers and supporters are behind it.
Whether Facebook has changed things for better or for worse is up for debate. Bitcoin would have a lot more positive benefits, however, as it improves privacy rather than destroying it.