First came the internet, and only a few “dreamers” were able to realize the game-changing aspect of the technology, even less people were able to capitalize on that.

Where the whole world thought that it was just a pipe dream and a passing nerd fever, others believed that the invention was here to stay and that everyone would be on the internet, and that it was only a matter of time.

Soon afterwards, the word started to spread and many entrepreneurs jumped on board and attempted to launch online ventures, or tried to convince business owners to start doing business on the web.

At the time, nothing seemed more laughable.

Granted, there were plenty of opportunists chasing a quick buck, some of them might’ve even ‘oversold’ their capabilities in order to seize a portion of the vast funding pools that become abundant whenever a revolutionary innovation comes around.

Then the Dot Com bubble came in, and the naysayers felt vindicated, to them it was the final stake in the genie’s heart.

But nothing was further from the truth.

The reality is that business on the web was similar than business in the real world, it’s a tough and risky environment and only a few actually make it.

Despite the copious amounts of doom and gloom delivered by the media, the sector had not only recovered, but went on to dominate not only the finance world but became an important part of everybody’s life.

It sure took a few years, and it certainly passed through some rough patches and received its fair share of criticism: Online blogs were laughable, Online dating was laughable, YouTube was laughable…

Hell, even the simple idea of regular business launching their own websites and accepting credit cards online was utterly laughable.

But as it turns out, the market doesn’t discriminate against new concepts, and nothing can stop an idea whose time has come.

Nowadays, look around and try to find a physical store that can hold a candle to Amazon.com, even more extraordinary is the fact that the most profitable part of Amazon is their Amazon Web Services.

I guess that Dot Com bubble didn’t pan out as some mainstream “visionaries” had predicted.

Then came the blockchain, and only a few “dreamers” were able to realize the game-changing aspect of the technology, even less people were able to capitalize on that.

Where the whole world thought that it was just a pipe dream and a passing nerd fever, others believed that the invention was here to stay and that everyone would be on the blockchain, and that it was only a matter of time.

Soon afterwards, the word started to spread and many entrepreneurs jumped on board and attempted to launch online ventures, or tried to convince business owners to start doing business on the blockchain.

At the time, nothing seemed more laughable.

Granted, there were plenty of opportunists chasing a quick buck, some of them might’ve even ‘oversold’ their capabilities – via ICOs and otherwise – in order to seize a portion of the vast funding pools that become abundant whenever a revolutionary innovation comes around.

The reality is that business on the web was similar than business in the real world, it’s a tough and risky environment and only a few actually make it.

From that point on, it was only a matter of time until comparisons with the Dot Com bubble started to surface… From websites ending in Dot Com ironically enough. which actually qualifies as some funny satire.

My guess is, these people are going to say the same thing they were always going to say. You know they’ll always try to undermine new ideas and innovation, just don’t let them drive you away from being an early adopter no matter how the markets are tanking at the moment.

As the proverb goes: The darkest hour is just before dawn.

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Responses

  1. CryptosDecrypted

    Great post and very well-written. I couldn’t agree more with the comparison you make between the internet and crypto warts and all. Many projects will fail, business norms apply, but some will lead to immense change and hopefully, we may have picked a few of them!

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    1. Adil Elias Post author

      Yeah exactly, although many projects would fail along the way, the sector is here to stay and there’s plenty of great working projects anyways, but yeah the change is here to stay.

      As you said, hopefully we may have picked a few of them 🙂

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  2. Ilia

    Thanks for the interesting post! There are always pioneers! Everywhere – from the depths of the ocean and to the most closed depths of cyberspace! It is possible that soon the blockchain will be replaced by new projects!

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  3. Paul J L

    It really fascinating to look at the progression of the internet. No one would have ever dreamed of an internet business 30 years ago, let alone an internet currency. This was a fun read. Thanks for sharing!

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  4. sandwichbill

    The comparisons between dot.com and crpto are interesting. I think history will rhyme for those projects that don’t offer an innovative use-case, or a real world economic outcome and there are many out there. But there will also be those that will become the good, low hanging fruit that will be more difficult to reach.

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