With all the news of adoption and mass appeal, people need to remember that despite Bitcoin price breaking $10,000, less than one percent of the world’s population actively uses it. There is a lot of noise around the digital currency, but it is still a small fish in the global economy.
Many have likened Bitcoin to the dotcom bubble, waiting to burst as people throw money at it like the companies back in the emergence of the Internet. But Bitcoin is not a company, it is a technology, and it sits on the precipice like email did in 1994.
The Killer App
Back in 1994 email was globally adopted by around 0.25 percent of the population. However, it was invented in 1972 by Arpanet engineer Ray Tomlinson. It was, for a very long time, the only ‘killer application’ for the Internet.
It all sounds quite familiar. Bitcoin, invented in 2008, was mostly a toy for tech geeks and anarchists who saw a revolution in money as the global economy collapsed. But it was just a hobby, nothing else.
Then, as it gained momentum, it became the only ‘killer app’ for the Blockchain, and dominated that space for some while by itself…
Read Full: Bitcoin Is What Email Was In Early 90s