Early in the Internet? NO! On how to describe the current encryption industry in vernacular

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In many people's eyes, cryptocurrency is an economic phenomenon, and singers sometimes compare it to tulip fanaticism, the Internet bubble, and the wild west of the gold rush. But the CEO of Coinbase believes that cryptocurrencies should not be compared to the early days of the Internet.

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According to a report by Bitcoinexchangeguide on November 5th, Coachbase CEO Zach Abrams believes that it is not wise to compare the development of the cryptocurrency industry with the early days of the Internet. It is best to treat it as a us. Lifestyle brings a changing product, such as Google, Amazon or Uber. The cryptocurrency is different from the Internet, not only the environment in which it appears, but also the response of people to them.

Most people associate these two seemingly different things because the rise of the Internet has only happened in recent years and has been deeply rooted in our minds. Events such as cars and air travel took place earlier, and most of us could not imagine the impact of these technologies on the world at the time. Zach Abrams added:

• “Almost all new technologies have undergone long periods of tempering: accidental discovery, unstable market discovery and unprecedented breakthroughs. Emerging technologies have experienced these cycles: from being suspected to the truth, from nothing There is no substitute for use, from the crack to the ubiquity."

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Zach Abrams further compares cryptocurrencies to phones. In the first 30 years after the invention of the telephone, it was mainly controlled by the government and some enterprises. However, over time, the cost of equipment and services has fallen dramatically, paving the way for large-scale adoption. It was not until half a century later that people really realized its existence.

The CEO is optimistic about the cryptocurrency industry, but the negative impact of the hacker attacks and the existence of a large number of fraud incidents is difficult to eliminate. The industry needs to be recognized and needs more time than we think. .

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