Pomp Compares Bitcoin to the Early Internet; We Will Have Human Friendly Digital Wallet Addresses Eventually.
Anthony Pompliano popularly known as Pomp compares Bitcoin to the early internet, says we will eventually have human friendly digital wallet addresses as seen in today’s internet and email services.
In his weekly letters sent to investors, Pomp says the internet was originally not meant for consumers and the interface proved that.
The interface was complex compared to what is seen in today’s internet. The early users of the internet weren’t the only one confused with it but, also bystanders who were either (a) confused by the new advancement and (b) those who thought it was vastly overhyped.
According to Pomp, the early internet is just like how Bitcoin. The early users of bitcoin were highly technically skilled and those who were incredibly curious as to what the technology was and could be, however, to use bitcoin, only technical persons were able to due to its unfriendly user interface just like the early internet.
And like the internet at its early days, as it grew, consumer applications and nicer interface started surfacing just as we can see in Bitcoin and crypto today. However, he said, the position today is not where Bitcoin and crypto will be in 10 to 20 years from now.
Just as to locate resources on the internet, one had to type in series of numbers (IP addresses), but now it has been changed to human readable and easily understood characters, that is what will happen to digital wallet addresses too.
He is quoted saying “today you have to send Bitcoin or other digital currency to a random string of letters and numbers………….. This can be confusing. The addresses are hard to remember. It is easy to mistype one of the characters etc.”
But eventually, Pomp continued
“we will have much more human-friendly digital wallet addresses. They won’t be these random strings of letters and numbers, they will be a word or a phrase that feels more like the internet, URLS, and email addresses feel today.”
And this will help ensure bitcoin is on its way to truly becoming a global, decentralized, digital currency. We need patience as the asset, and related infrastructure has to mature, Pomp concluded