Bitcoin is often compared to the internet in the 1990s, but I believe the better analogy is to the telegraph in the 1840s. The telegraph was the first technology to transmit encoded data at near-light speed over long distances. It marked the birth of the telecommunications industry. The internet, though it is bigger in scale, richer in content, and many-to-many instead of one-to-one, is fundamentally still a telecommunications technology.
But bitcoin is not the end of any transformation- it's the beginning of one. Like telecommunications, bitcoin will change both human society and daily life. Predicting the full scope of this change today is akin to imagining the internet while living in the era of the telegraph.
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