While the crypto market continues to crash with major currencies like Bitcoin and Ethereum seeings plummets over 20% people are asking

Was it a scam all along? 

Many high-profile business leaders (including Bill Gates), are speaking up to degrade the legitimacy of the blockchain space and use the crash as evidence for its failure. 

Believe it or not though, this isn’t the first time the skeptics have spoken and called a revolutionary endeavour a total flop. History is flooded with examples of initiatives that were called “useless,” “temporary,” or “an absolute failure,” only to see them redefine entire civilizations

Let’s take a look at a few…and maybe we’ll start with one Bill Gates is very familiar with: 

Microsoft

When the first version of Windows (Windows 1.0) was launched in November 1985, the company panicked as the release went flat. No one was interested, even though it was the first time Microsoft was introducing a graphical tool on its interface. 

Given the plummet of what they’d predicted to be an absolute hit, the company could’ve justified ignoring a second attempt, instead they did the opposite. 

One of the biggest marketing schemes in History – which included banners from the CN tower and a TV skit with Jennifer Anniston was initiated to build the launch of Windows 95. 

10 years after one of the company’s biggest failures it saw 1 million copies of their new software sold in just 4 days, doubling the company evaluation in just months, only to see it continue to quadruple into the future. 

…but based on the data, it should’ve flopped. 

The Telephone 

No one could deny the convenience of the telephone – it replaced the slow method of telegrams and letters with in-time conversations. Additionally, it was the first time communication through voice was possible, adding another layer to its incredible value. 

…but people called it black magic

No one trusted its privacy, with speculation that there was always a third person listening into your call. Some even suspected you’d go deaf or worse, crazy, from holding a telephone to your ear. It’s not totally surprising that owners of telegraph companies were some of the first to start spreading outrageous horror stories in an attempt to squash an invention that threatened their entire industry. 

The Internet 

We seem to think that the Internet arrived with one big boom. And while its growth has shocked the masses, many recall the adoption of both personal computers and at-home Internet slower than you’d expect. 

It’s true that the Internet arrived in stages, but even when Tim Berners-Lee introduced the worldwide web and published the first .com address in August of 1991, people still doubted its potential for success. You’d think that after years of Encyclopedias, phone cords catching in doorways and library fines, that the people would devour this new technology. Instead, most were content with how things were, businesses saw no real opportunity and some went as far to say it would never stick. 

None could’ve predicted that less than 30 years later there would be hundreds of millions of domain names servicing the globe. 

So there you have it. 

Resistance from people has less to do with the product and more to do with psychology. It’s embedded in our DNA code to be wary of the unknown – it’s a survival trait we’ll never outgrow. Listen to your own gut, stay informed and most importantly: stick with the 10%. History has shown fear – not fact – to be the cause for skepticism

Share This Story, Choose Your Platform!