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financial advice. You should do your own research before making any decisions.
Cory Klippsten on Bitcoin as the 6th Technological Revolution
In a Nov 3, 2022 tweet thread, Cory Klippsten asserted on Twitter that Bitcoin is the 6th "Technological Revolution." Cory notes that it is a distinct phenomenon from "technology adoption" as it impacts ALL industries, not just a few. As a much deeper societal transformation, technological revolutions roll out over decades, not years.
Bitcoin is the 6th Technological Revolution
- Industrial - beginning c. 1771
- Steam & Rail - 1829
- Steel, Electricity & Heavy Engineering - 1875
- Oil, Autos & Mass Production - 1908
- Information & Telecommunications - 1971
- Bitcoin - 2009 [Source]
Do NOT expect a technology adoption curve, like for iPads. [Source]
A technological revolution like #Bitcoin disrupts ALL industries, not just one or a few. These cycles take 50-60 years historically, not just one or two decades. Applying Carlota Perez’s framework to Bitcoin, I think we’re still in Irruption, and we haven’t seen Frenzy yet. [Source]
I read Perez’s fantastic book “Technological Revolutions and Financial Capital” for the third time over the summer, and I think it’s worth adding to your mental model for thinking about #Bitcoin adoption. [Source]