Co ⚡or, I identify a Dan on Nostr: BIS & IMF wrote Bitcoin off early on as it didn't get enough traction in the early ...
BIS & IMF wrote Bitcoin off early on as it didn't get enough traction in the early years. They did their analysis and simply didn't recognise the threat.
Then Facebook published the Diem white paper. As Facebook with 2bn users represented a legitimate threat to their long established network, the central banks + governments panic and killed it instantly.
Bitcoin continued to grow in the mean time and now it's too decentralised and secure to shut down. It will continue to grow and gradually overcome the network effects of the old system.
Bitcoin, I believed was elegantly designed by Satoshi to distribute the coins early, yet grow slowly, as he may have suspected the hubris of the old gaurd would lead them to underestimate its potential.
Whilst Nostr is not Bitcoin, there are some lessons to be learned from Bitcoins story. New technologies take time, some make it, some don't. Just because a new tech hasn't achieved overnight success, doesn't mean it or the ideas it fostered are going to fail.
Then Facebook published the Diem white paper. As Facebook with 2bn users represented a legitimate threat to their long established network, the central banks + governments panic and killed it instantly.
Bitcoin continued to grow in the mean time and now it's too decentralised and secure to shut down. It will continue to grow and gradually overcome the network effects of the old system.
Bitcoin, I believed was elegantly designed by Satoshi to distribute the coins early, yet grow slowly, as he may have suspected the hubris of the old gaurd would lead them to underestimate its potential.
Whilst Nostr is not Bitcoin, there are some lessons to be learned from Bitcoins story. New technologies take time, some make it, some don't. Just because a new tech hasn't achieved overnight success, doesn't mean it or the ideas it fostered are going to fail.