Katherine Wu

Would love to see the equivalent research for the use of the word ‘Internet’ at the end of the ‘90s

The internet (TCP/IP) is a protocol suite, Bitcoin is the proper analogy (LNP/BP), not blockchain. But yes, this analogy is one of many fundamental reasons people believe Bitcoin will be the one and only winner for communicating value like tcp/ip for packet switching.

That article is a whirlwind of half-baked analysis. The fallacies section feels incomplete, because you fail to support any claim, except with a quote from a forgotten skeptic. Assuming the conclusion,... just because? 1/

2/ Tcp/ip is a communication protocol, like bitcoin. Also, similar to language itself. Communication tends to converge to a standard, because it's so much more efficient.

3/ The 80s, but particularly the 70s, saw an explosion of network communication protocols - ie OSI, NSFnet, XNS, X25, IPSS, SNA and many many more. Each had a separate target market or use case, reason to exist. This early explosion is like to the altcoin explosion we see today.

4/ But what happened to all those early protocols along side tcp/ip? They rolled into tcp/ip due to network effects and efficiency. Altcoins will do the same. Their use cases will be built in a protocol suite style like the internet.

5/ The tech is exciting, relatively easy to create, and has some use, but reinventing the wheel multiple times is not economically feasible long term. In the end, its much more efficient to build the use case on top of a common base protocol, and everyone speak the same language.

They're all trying to find use cases for blockchain while ignoring the main one... #Bitcoin for international settlement.

Case in point:https://twitter.com/Broccolex/status/1062134149060980736 …

"I see little commercial potential for the internet for the next 10 years," Gates allegedly said at one Comdex trade event in 1994

That's a ridiculous quote. He has never ever said that. Good grief.

If you’d kept reading that article you’d have seen he spoke about it as the ‘start of he highway’

I was referencing it as it pertains to the OP. That CEOs are not as impressed with the technology right now, possibly because they do not see the future potential or see it as too far off. It's obvious that Bill Gates was interested in the internet and computers in general

Referencing your own site and being wrong at the same time. Rough post.

what about innovation and cost efficiencies and coordination and collaboration and optics thohttps://twitter.com/sarthakgh/status/1032054528881745920?s=21 …

Precisely: distributed systems are by nature slower, more complex and costly than centralized system. A blockchain only makes sense for very specific and narrow use cases A central operator is almost always the best solution in terms of coordination & efficiency

While you're in your cube tomorrow at oracle, I recommend updating your resume.

I know that Oracle and others are trying to get on the #DLT train for FOMO. But if you are an SQL expert at Oracle, no need to update your resume to awkwardly include the buzzword “blockchain”. You will continue to be employed for a very long time!