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Day 20 - Building Lightswap - 15 yrs In Where r bitcoin’s profitable businesses?
324 sats \ 5 comments \ @stackingharder 23h builders
I spend a lot of time thinking about business models.
So here's a question I would love your thoughts on:
How many bitcoin companies are there (define it how you will) that make significant consistent revenue, are profitable, and are not exchanges or miners/mining related?
Hardware wallet companies come to mind but I can't think of any others. If I'm correct, why is that? Are we really that early? 15 years in?
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104 sats \ 2 replies \ @ek 21h
Are we really that early? 15 years in?
I like to compare bitcoin adoption with internet adoption and if that makes sense and we say the "internet" started around 1980 with TCP/IP, then we're basically in year 1995 and "bitcoin's iPhone moment" that puts it into everyone's hands is still 12 years away
And then we're really getting started
but could also happen a lot earlier, since we don't need to deploy so much hardware for bitcoin like we did with routers for the internet, it's mostly just software
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50 sats \ 1 reply \ @stackingharder OP 12h
I like that analogy, it's easy to forget that the internet started in the 1980s. Technological and societal developments could definitely move quicker this time around so if we zoom out, perhaps we are still very early. Great point.
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21 sats \ 0 replies \ @ek 12h
@remindme in 12 years
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21 sats \ 1 reply \ @BlokchainB 21h
It is extremely hard. I often think of all projects that have come and gone. People have gotten spoiled with the “free” internet so monetization Will be difficult.
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69 sats \ 0 replies \ @stackingharder OP 12h
This is my gut feeling too. So many of us feel we don't ned to pay for software because of the 'free' internet, I think this is definitely true of many bitcoiners unfortunately.
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