Part 4/16:
He draws a parallel between bitcoin and past technological upheavals, such as automobiles. Early media narratives mocked cars, claiming they were slower, more dangerous, and unnecessary compared to horses. Governments even imposed restrictive laws, such as the 1896 Red Flag Acts in the U.K., which mandated three-person crews and red flags to warn pedestrians—a regulation that stifled innovation and hastened Britain's decline in automobile leadership.