Crypto industry development has been compared many times with the internet bubble, twenty years ago. There's a very interesting documentary produced by Discovery channel several years ago named "The True Story of Internet". One of the chapters goes over the Dot Com Bubble.
The video describes the story with the evolution of two big players, Amazon and Ebay, how and when they were created and how the whole industry evolved (competitors, investors, customers, infrastructure, and markets) as both companies were born pivoted and evolved with the market.
While watching the video, I started seeing similarities with the Crypto moment we are living right now.
I recommend you to watch the video if you have not done it yet, go over my list of similarities and share your comments.
- There are two big initial players Amazon and Ebay in the Doc Com Bubble, and there are two big ones Bitcoin and Ethereum in the Crypto one.
- Both Dot Com companies introduce a big change giving customers much more power. In the Crypto, that power is even increased as both "organizations" are decentralized and mostly managed by the different type of "customers" being users, miners or developers.
- The growth of both players is very strong and fast in the Dot Com era, that growth is just spectacular in the Crypto as things are probably 10 times faster.
- Lots of newcomers join the party after they see how the two big ones are performing. Most of this newcomers end up failing after being funded by lots of "not very professional" investors experiencing FOMO. This is especially true in the Crypto era with all the retail investors joining the party.
- A collapse appears and market loses most of its value but the two big ones remain. We are already seeing many Crypto projects failing and many more will come.
- Regulators show up. SEC created new rules back then and it is also doing it now.
- New, second wave players start showing up. Youtube, Digg back then and EOS right now.
- New infrastructure is deployed. Fiber back then and blockchains now.
Upvote and resteem if you like the content and let me know your thoughts.