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Crypto Assets Compared to Dot Com Domains Shows Unrivaled Growth Performance

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
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Cameron Winklevoss, early Bitcoin investor the outspoken co-founder of the Gemini crypto exchange, is a staunch supporter of what he and his brother Tyler call the Future of Money. They and their exchange have worked to elevate the industry and help it shed the wild west atmosphere of the emerging market.

In his latest comments, the Bitcoin bull compares crypto assets to the assets of the dot com era: domain names. The comparison is used to show the tremendous growth the crypto market has brought investors – far more than the mere “few millions” that Winklevoss says a four-letter domain would have netted someone if bought in 1990.

Cameron Winklevoss: Cryptonetworks > Internet, Here’s Why

Cameron Winklevoss knows plenty about investing in early technologies like the internet and more recently, cryptocurrencies. The early Bitcoin supporter was also partly responsible for one of the earliest examples of a social media network, which eventually became the foundation for Mark Zuckerberg’s Facebook – one of the most powerful internet giants today.

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Related Reading | Cameron Winklevoss on Crypto: Not Investing In the “Future of Money” is “Crazy”

In a recent tweet, the tech entrepreneur and one half of the Winklevoss twins has compared ownership of crypto network assets – cryptocurrencies – to the early owners of internet assets, or domain names. In the early days of the internet, forward-thinking entrepreneurs would gobble up two-, three-, and four-letter domain names in anticipation of the stampede of companies that would eventually have a presence in cyberspace.

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

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Eventually, few-letter domain names became scarce, and have since ran out. Those left holding the remaining assets can fetch a lofty amount depending on if there is a brand out there interested in that domain. The scarcity of four-and-under-letter domain names is strikingly similar to capped supply of Bitcoins.

In Winklevoss’s comparison, he says a $10 investment in a four-letter domain in 1990 could be worth a “few millions max.” Meanwhile, the same investment – using a $10 exchange of Bitcoin for pizza coinciding with yesterday’s Bitcoin pizza day as the example – would have netted the investor upwards of $80 million in twenty less years time.

Related Reading | Crypto Industry Celebrates First BTC Transaction With Annual Bitcoin Pizza Day 

The comparison truly does show the incredible potential and magnitude Bitcoin and cryptocurrencies have even compared to something as powerful and life-altering as the internet. The Winklevoss twins went along for the ride as both major technologies blossomed into what they are today. The internet has matured, the crypto industry is still in its infancy and has so much more room to grow ahead of it.

Forward-thinking investors similar to those who saw potential in domain names long before others, should also realize the potential that crypto assets offer. Those that do could be rewarded handsomely.

Featured image from Shutterstock
Tags: bitcoincameron winklevosscryptodomain namesGeminiinternet
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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