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RE: Tim Draper says Bitcoin could be bigger than the internet

in #bitcoin6 years ago

I can see it.

It makes sense in a way. If you think about the internet now, it is a protocol that provides a platform for something to happen; whether that be commerce, entertainment, content consumption etc. These platforms themselves provide the basic framework for 'value' to be built upon but what really provides utility is the number of users actively using the platform. With this in mind, the users are the ones that underpin the value of the platform, yet they very rarely have any a) involvement in decisions for the platform and b) financial benefit from being a user.

Other than being a shareholder in one of the companies that derives income from internet users, people are contributing for no economic return. Cryptocurrency in this sense is a huge incentive as the centralization of not only power but value is given back to the network not a select group of central figures.