How Bitcoin is Similar to Early Public Opinion of Computers and the Internet

The following is a quick rundown of an interview performed by David Letterman of Bill Gates during 1995 on the topic of computers and how it is similar to the disruptive technology of Bitcoin.

Near the beginning of the interview Letterman asked Bill Gates what his vision was in regards to computers and Gates responded, “A computer on every desk and in every home”. Letterman then stated, “Well I don’t have a computer on my desk or in my home” which was followed by audience laughter.

Bitcoin enthusiasts will find themselves in very similar situations when explaining their vision of “everyone using Bitcoin for most everyday transactions”, which usually will result in either laughter or looks of confusion by people who don’t understand Bitcoin.

Letterman also asks Gates why Letterman doesn’t own a computer (audience laughter). Bill Gates then responds by explaining to Letterman that Letterman doesn’t own a computer probably because of his many assistants that currently take the place of what a computer could do for him.

This is also a very familiar situation when explaining to people the benefits of Bitcoin and receiving the typical response of “Why do I need Bitcoin when I already have cash and credit cards”.

Letterman then goes on to give Gates a hard time about “the internet” and how there is no real use case for the internet since other services like newspapers, tape recorders and the radio already exist…queue massive audience laughter.

This clip ends with David Letterman stating “it’s too bad there is no money in this too, is there?”

Due to the Bitcoin price drop during the entire year of 2014 most of the public will only focus on the price aspect of Bitcoin and believe it’s a failure without looking at any of the advances in adoption that Bitcoin has made this year.

So what is to be learned from these similarities? If you believe in Bitcoin’s future success and the advancement of financial technology through the Bitcoin protocol, stick to your beliefs and ride this thing out. There are always more naysayers than enthusiasts with new disruptive technology and Bitcoin is no exception. Don’t let the recent price drops get you down. Bitcoin and cryptocurrencies are here to stay and will be changing the financial technology industry one step at at time.

No tips yet.
Be the first to tip!

Like this post? Tip me with bitcoin!


If you enjoyed reading this post, please consider tipping me using Bitcoin. Each post gets its own unique Bitcoin address so by tipping you're not only making my continued efforts possible but telling me what you liked.

Leave a Comment