In your other post to my comment you mentioned that "the internet" was referring to ARPANET so I'll use that version of your argument. Electronic mail [1] was already being used on private networks to mainframes 1962. Before that, data messages were being sent over Teletext, so these private networks were just trying to do away with requiring a Teletext printer. Before Teletext, you had telegraphs being sent.
ARPANET was built with the idea to allow remote access to expensive computing resources, mainframes, at universities and government research institutions. This is far from the idea that "the computers of the world should be connected", which is roughly the idea behind the internet. Electronic mail was reimplemented in parallel on multiple different networks. But for a long time, the internet was indeed a solution looking for a problem. Why do Joe and Anu's computers have to be connected together, who cares when they can call each other on the phone or meet in person? I mean, can Joe or Anu even afford a private computer?? Private networks for research or commercial purposes were already in regular use.
> I don't see any useful applications of crypto technology.
I think in your anti-crypto zeal, you're assuming a position I don't have. I don't actually think it's valid to say "cryptocurrency is early". The early computer networks were created at a time when huge monopolies, state-run or corporatist, owned most telecoms networks around the world. It was bound to take time when entrenched interests had interest in maintaining the status quo. I also think that comparing blockchains to the Internet is silly; the Internet is the Internet, blockchains are blockchains. My point here is simply that "we had emails and TCP in 3 years" is plain factually incorrect. The internet as we know it now (a system of networks connected via L2 links that are then bridged using IP/L3 on an IP virtual address space) actually took a long time to be developed. If you're looking for an analogy to show that 13 years is too long for usable innovation, then the Web would be a better one, as the Web legitimately was used within a mere couple years of its inception. I still think making analogy between the Web and blockchains is silly for the same reason I think making the analogy between the Internet and blockchains is silly.
OK, you have a point, I agree that comparing blockchains to internet is not very useful. And I'm not actually anti-crypto, simply because I don't know enough about it or its potential. What do you think, where is this technology going? Clearly a lot of smart people are trying to build something. What are they building?
> What do you think, where is this technology going?
I think the technology is "early" but that is also a risk. If the problems can't be worked out before the space develops a reputation for fraud and malarky, then few people are going to be excited to transact in that space. I think there's potential if crypto can figure out how to switch from PoW to a less hungry algorithm (like PoS) and if crypto can make development easier (deploying and testing smart contracts on Eth is a gigantic PITA which is why there's so many security vulnerabilities in smart contracts), if crypto can address Moxie's criticisms, and if chain fees can go back down to ~ 2016 BTC levels. There's chains like Algorand that show potential but I'm not sure if it's too little too late. Maybe with the amount of investment capital lying around, they can weather the storm, but plenty of otherwise perfectly good technologies have tanked due to too slow execution.
ARPANET was built with the idea to allow remote access to expensive computing resources, mainframes, at universities and government research institutions. This is far from the idea that "the computers of the world should be connected", which is roughly the idea behind the internet. Electronic mail was reimplemented in parallel on multiple different networks. But for a long time, the internet was indeed a solution looking for a problem. Why do Joe and Anu's computers have to be connected together, who cares when they can call each other on the phone or meet in person? I mean, can Joe or Anu even afford a private computer?? Private networks for research or commercial purposes were already in regular use.
> I don't see any useful applications of crypto technology.
I think in your anti-crypto zeal, you're assuming a position I don't have. I don't actually think it's valid to say "cryptocurrency is early". The early computer networks were created at a time when huge monopolies, state-run or corporatist, owned most telecoms networks around the world. It was bound to take time when entrenched interests had interest in maintaining the status quo. I also think that comparing blockchains to the Internet is silly; the Internet is the Internet, blockchains are blockchains. My point here is simply that "we had emails and TCP in 3 years" is plain factually incorrect. The internet as we know it now (a system of networks connected via L2 links that are then bridged using IP/L3 on an IP virtual address space) actually took a long time to be developed. If you're looking for an analogy to show that 13 years is too long for usable innovation, then the Web would be a better one, as the Web legitimately was used within a mere couple years of its inception. I still think making analogy between the Web and blockchains is silly for the same reason I think making the analogy between the Internet and blockchains is silly.
[1]: https://en.wikipedia.org/wiki/History_of_email