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Dec, 2018

The striking resemblance of the Internet's growth VS cryptos

From the time the first website was published in 1991 until today, the internet has profoundly reshaped humanity.


Both the Internet and Bitcoin (cryptocurrencies in general) weren't exactly welcomed by the world when they were first introduced. While Internet has conquered the planet, Bitcoin is still being hated (or ignored) by many, and lots of famous people have even declared it "dead" (its' been declared officialy dead more than 330 times now). Yet it's still standing, even if it's badly "hurt" and the market is constantly growing as adoption spreads.


Comparisons between cryptocurrencies and the growth of the internet are invariably drawn (including cryptocurrencies’ netscape moment). 


There are ~24M bitcoin wallet addresses in total. This doesn’t mean there are 24M Bitcoin users because one person can have more than 1 wallet address and it is recommended to generate a new bitcoin address for each transaction sent.


In addition to looking at the number of wallets, we can look at the number of active addresses per day. 


Another method to approximate the user growth of cryptocurrencies is to instead look at the exchanges themselves — both fiat-crypto and crypto-crypto exchanges. Only a handful of crypto exchanges have published their total user stats & user growth statistics. 


If we zoom into 1990–1995 for the internet compared to 2013–2018 in cryptocurrencies:


You can see we’re actually tracking quite closely with the early days of the internet. If you think cryptocurrencies is going to follow a similar trajectory as the internet, we look like we’re in about year 1994 compared to the internet.


If we zoom into 1991–1995 in the growth of websites compared to 2014–17 in the growth of crypto assets (tokens which received funding +DApps):