In this week's newsletter, we’ll succinctly explore the overarching expansion of the Bitcoin network, shedding light on its multifaceted growth and the implications it carries.
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Table of Contents
The Internet & Bitcoin
Bitcoin Hashrate
Confirmed Transactions per Day
Average Payments per Block
On-Chain Versus Price
Final Thoughts
The Internet & Bitcoin
Historical precedents indicate that groundbreaking technologies often undergo an initial phase of ‘irrational exuberance’, characterized by speculative bubbles. A quintessential example is the tech boom of the late 90s, which culminated in the dramatic bust of 2000.
During this period, market valuations of numerous tech companies soared to unsustainable heights, only to crash significantly when the bubble burst.