Cameron Winklevoss Compares Value of Domain Names in Dot-Com Era to Crypto Assets: Which Wins?
Bitcoin has an impressive following, with investors and proponents like Cameron and Tyler Winklevoss that have called the asset the Future of Money. The twosome has established the Gemini crypto exchange as co-founders, and have aggressively worked to make sure that the industry is seen in a more positive light.
Most recently, Cameron spoke about the way that crypto assets are much like domain names, which were the “assets of the dot com era,” as NewsBTC writes. He compares the two in an effort to show the way that the crypto industry has collected investors, which far surpasses the “few millions” that a small domain name brought in the 1990s.
Cameron has a certain preference for early technologies, like the internet and cryptocurrency. Getting involved with Bitcoin relatively early, Cameron and his brother were also tied to the Facebook social media network. The website was one of the earliest companies to offer the concept of social media, much like MySpace.
In a recent tweet of the Bitcoin bull and entrepreneur, Cameron brought attention to the comparison of these types of assets.
Cyberspace assets = domain names
Cryptonetwork assets = tokens
1990: 4-letter domain = $10. Same domain today = few millions max
2009: bitcoin pizza = $10. Same pizza today = ~$80million
Ability to own a piece of Cryptonetworks > Internet.
— Cameron Winklevoss (@winklevoss) May 23, 2019
The few-letter domain names have essentially run out over the last decade, but the ones that still have these assets stand to be making major profits, in the event that a brand is interested. However, the limited supply of Bitcoin is a lot like the limited number of domain names with less than four letters.
Cameron compares a $10 investment with domain names to the same investment of $10 in Bitcoin in its early days. While domain names would end up bringing the investor a few million, the same investment in the early days of Bitcoin would be worth around $80 million in less than a decade.
By speaking about this comparison, it definitely sheds light on the potential of the Bitcoin and crypto market, making a powerful and world-changing technology into a highly successful market. Both Winklevoss twins followed along on these technologies that have proven their worth and the way that the world is still evolving. They saw the potential, saw the technologies, and saw their profits grow.
It would behoove other investors to be just as supportive to this budding technology, because it still has plenty of room to grow. The Bitcoin price is presently trading at $8,060.18, increasing by just 0.03% in the last 24 hours.
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