The way Bitcoin mixed all these together created a unique product, that’s true, but not revolutionary. It didn’t invent anything new.
I would disagree. Bitcoin was revolutionary even if it didnt "invent anything new". The smartphone converged mobile, computing, and the internet, technologies that were around for decade. I doubt anyone would say that this was not a revolutionary change.
I have mixed feelings about this. I’ve seen the dot com bubble, and that one inflated really fast. Just as fast it hit the ground after a couple of years. This NFT craze (I don’t call it a bubble, just a craze) has all the ingredients for following the same scenario. Over inflated and easily replicable assets, over hyped, looks exactly like how websites were back at the end of the nineties.
Agreed. We are seeing the over exuberance that is typical with new innovations. The present NFT market doesnt make much sense to me and, I feel, will see many lose most of their money. That does not deter from the long term viable of NFTs. In time, it will be an enormous market with solid use cases throughout. We do not appear to be at that point yet.
NFTs will transform our entire ownership model.
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I remember about this web services called Webvan, or Fridge van. It was launched a couple of years before the dot com bubble. Those times were way before what we now call "Internet of things". But basically it was internet of things: you would put a sensor in your fridge, which would "read" what's in it, and then order autonomously what you consumed, without any input from you, automating your grocery shopping. It didn't take out. As a matter of fact, it crashed pretty bad during the dot com bubble and, even if other players tried to revive it under different names, it never really took off.
In a way, Webvan and Bitcoin are similar, because they both just combined already existing technologies. None of them invented something completely new, like, for instance, quantum computing. But, for some reason, Bitcoin took off, while automated grocery shopping didn't.
At least that's my point of view, and, as always, we can safely agree to disagree on this topic.
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