Crypto Assets Compared to Dot Com Domains Shows Unrivaled Growth Performance
Cameron Winklevoss, early Bitcoin investor the outspoken co-founder of the Gemini crypto exchange, is a staunch supporter of what he and his brother Tyler call the Future of Money. They and their exchange have worked to elevate the industry and help it shed the wild west atmosphere of the emerging market.
In his latest comments, the Bitcoin bull compares crypto assets to the assets of the dot com era: domain names. The comparison is used to show the tremendous growth the crypto market has brought investors – far more than the mere “few millions” that Winklevoss says a four-letter domain would have netted someone if bought in 1990.
Cameron Winklevoss: Cryptonetworks > Internet, Here’s Why
Cameron Winklevoss knows plenty about investing in early technologies like the internet and more recently, cryptocurrencies. The early Bitcoin supporter was also partly responsible for one of the earliest examples of a social media network, which eventually became the foundation for Mark Zuckerberg’s Facebook – one of the most powerful internet giants today.
Related Reading | Cameron Winklevoss on Crypto: Not Investing In the “Future of Money” is “Crazy”
In a recent tweet, the tech entrepreneur and one half of the Winklevoss twins has compared ownership of crypto network assets – cryptocurrencies – to the early owners of internet assets, or domain names. In the early days of the internet, forward-thinking entrepreneurs would gobble up two-, three-, and four-letter domain names in anticipation of the stampede of companies that would eventually have a presence in cyberspace.
Ethereum Price (ETH) Looks Set To Continue Higher
Tuesday September 10, 2019
ETH price is showing positive signs above the $180 pivot level against the US Dollar. The price is likely to continue higher above the $184 and $185 resistance levels in the near term. There...
Cyberspace assets = domain names Cryptonetwork assets = tokens
1990: 4-letter domain = $10. Same domain today = few millions max2009: bitcoin pizza = $10. Same pizza today = ~$80million
Ability to own a piece of Cryptonetworks > Internet.
— Cameron Winklevoss (@winklevoss) May 23, 2019
Marcus Defends Libra Cryptocurrency in Latest Bid to Woo Central Banks
Monday September 16, 2019
Facebook executive David Marcus defended the Libra cryptocurrency ahead of his meeting with the representatives of global bankers in Basel on Monday. The co-creator said Libra is not going to challenge or undermine the...
The post Marcus Defends Libra Cryptocurrency in Latest Bid to Woo Central Banks appeared first on 12bitplay - Bitcoin Play.
Eventually, few-letter domain names became scarce, and have since ran out. Those left holding the remaining assets can fetch a lofty amount depending on if there is a brand out there interested in that domain. The scarcity of four-and-under-letter domain names is strikingly similar to capped supply of Bitcoins.
In Winklevoss’s comparison, he says a $10 investment in a four-letter domain in 1990 could be worth a “few millions max.” Meanwhile, the same investment – using a $10 exchange of Bitcoin for pizza coinciding with yesterday’s Bitcoin pizza day as the example – would have netted the investor upwards of $80 million in twenty less years time.
Related Reading | Crypto Industry Celebrates First BTC Transaction With Annual Bitcoin Pizza Day
The comparison truly does show the incredible potential and magnitude Bitcoin and cryptocurrencies have even compared to something as powerful and life-altering as the internet. The Winklevoss twins went along for the ride as both major technologies blossomed into what they are today. The internet has matured, the crypto industry is still in its infancy and has so much more room to grow ahead of it.
Forward-thinking investors similar to those who saw potential in domain names long before others, should also realize the potential that crypto assets offer. Those that do could be rewarded handsomely.
Featured image from Shutterstock
The post Crypto Assets Compared to Dot Com Domains Shows Unrivaled Growth Performance appeared first on NewsBTC.
Why Apple Won’t Reveal Crypto and Bitcoin Support at iPhone 11 Event
Tuesday September 10, 2019
Today, Apple will reveal the latest iteration of its flagship smartphone, the iPhone 11 during a live-streamed conference hosted by the Cupertino giant. After last week’s comments made by an Apple executive suggesting potential...
The post Why Apple Won’t Reveal Crypto and Bitcoin Support at iPhone 11 Event appeared first on 12bitplay - Bitcoin Play.