Stuart Alderoty compares crypto’s growth to the early days of the internet.
The post Stuart Alderoty compares crypto’s growth to the early days of the internet. appeared on BitcoinEthereumNews.com.
The crypto market is in its early days and like other industries, is filled with speculations. Ripple CLO Stuart Alderoty pointed out similarities in crypto and the internet in the 90s. With FTX collapse, Alderoty implied that the bad days for crypto space are over. Ripple’s Chief Legal Officer, Stuart Alderoty, posted an interesting poll on X (formerly Twitter) to his 174.5K followers and the crypto community. The results offer insights into the growth of the digital asset space. Alderoty asked in his post, “Which industry faced early speculation, corruption, and bankruptcy before eventually consolidating around a few good actors and achieving mass adoption of transformative innovation?” He provided four options for his followers. The options were: “the internet of the 90s,” “railroads in the 1800s,” “cryptocurrency today,” and “all the above.” Over 62.6% of respondents chose the fourth option, while 19.3% selected the third. The first option received 13.8% of the votes, and the second got 4.3%. Which industry was subject to early speculation, corruption, and bankruptcy before eventual consolidation by a few good actors resulting in the mass adoption of transformative innovation? — Stuart Alderoty (@s_alderoty) October 5, 2024 Alderoty revealed that the correct answer was “all the above.” He explained that the internet was considered a sham in the 90s, and the railroads experienced the “Panic of 1873.” The Ripple executive compared the current state of the digital asset space to these industries in their early days, noting that it is also plagued by scams, speculation, and corruption. “All the above”: (a) The 90s internet boom had the “https://t.co/THTsXuTwcP bubble”; (b) Railroads had the “Panic of 1873”; and crypto was marked, most notably, by FTX. — Stuart Alderoty (@s_alderoty) October 6, 2024 Alderoty mentioned the bankrupt crypto exchange FTX, implying that the biggest scam in the digital…
Filed under: News - @ October 7, 2024 12:22 pm