Why Bitcoin Euphoria Reminds Me of Second Life Hype
"Bitcoin Euphoria Is Eerily Like Second Life Hype (and I Should Know)" is my new Internet Evolution essay pointing out the similarities between rising mainstream media euphoria over Bitcoin and the 2006-07 buzz over Second Life when it was being featured on the cover of BusinessWeek and beyond. (And as I suggest at the end, Second Life does have powerful, fun, and worthwhile applications, which is why I still write about it -- my comparison of SL with Bitcoin is to the "OMG it's the next generation of the Interwebs!!1!" rhetorical overreach from that period.) In the post, I point to enthusiasm over SL/Bitcoin despite little evidence of substantial user growth, and excitement over SL/Bitcoin's potential applications despite little actual usage. But to be sure, there's many other comparisons, among them:
- Like Bitcoin, Linden Dollars were intended to be an Internet-wide currency. One widely-discussed plan was to make them the universal currency for am open 3D web (which would presumably grow out of Second Life's success), so L$ would be usable not only in SL but in all the OpenSim worlds across the web.
- Like Bitcoin's code and culture around it, Second Life policies during the hype wave had a definite libertarian edge -- though Linden Lab had to quietly walk away from that philosophy, as I explain here.
- Like Bitcoin, oh the questionable money schemes SL was hit with back then.
So that's five points of similarity right there -- I bet NWN readers can think of many more below. Right?
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