It will be a mistake to evaluate Bitcoin and crypto based on what it is today – Anthony Pompliano ‘Pomp’
The owner of Off the Chain podcast Anthony Pompliano ‘ Pomp’ has said it will be a mistake to evaluate Bitcoin and crypto based on what it is today. This he said in this week’s letter to investors.
‘According to Pomp, technology evolves and advances at an impressive rate. What feels inefficient today will be replaced by interfaces and experiences that are sleek, fast and ultra-efficient in the future.’
He compared the early internet to Bitcoin and crypto in general saying just as the internet went from ARPANET to dial up internet to broadband connections, Bitcoin and crypto will do the same.
It will be the same Bitcoin, but the experiences will feel very differently from before.
Pomp said it will be a mistake to evaluate Bitcoin and crypto based on what it is today. According to him, people are simply looking at a snapshot in time.
What it looks like today is very different from what it will look like tomorrow. And that is very different from what it will look like a decade fromnow.
Layer 2 and layer 3 solutions will be developed, we will see exchanges, wallets, data providers and other infrastructure drastically improve.
According to Pomp, we will feel like the technical aspects of the product will disappear into the background and what users will be using will feel like something magical.
However the magical elements that will be seen in crypto someday, Pomp warned that this will take time because building technologies especially with compelling UI/UX takes time.
Therefore investors today should look at the pace of innovation, at the current speed of evolution of a technology if they want to understand where they are going.
Because according to him, technology is never about where we are currently. It is always about where we are going. And what resources it will take to get there.
And that is why ‘personally, I am optimistically patient because the potential of this will be worth the wait’, Pomp ended his letter.