{"id":31006,"date":"2022-05-31T20:27:10","date_gmt":"2022-05-31T20:27:10","guid":{"rendered":"https:\/\/harchi90.com\/mark-cuban-compares-crypto-to-early-internet-sees-upside-to-downturn\/"},"modified":"2022-05-31T20:27:10","modified_gmt":"2022-05-31T20:27:10","slug":"mark-cuban-compares-crypto-to-early-internet-sees-upside-to-downturn","status":"publish","type":"post","link":"https:\/\/harchi90.com\/mark-cuban-compares-crypto-to-early-internet-sees-upside-to-downturn\/","title":{"rendered":"Mark Cuban Compares Crypto to Early Internet, Sees Upside to Downturn"},"content":{"rendered":"\n<div>\n<ul class=\"summary-list\">\n<li>Mark Cuban likened crypto to the early internet in terms of its believers and doubters.<\/li>\n<li>The &#8220;Shark Tank&#8221; star said a crypto downturn would highlight the best opportunities in the space.<\/li>\n<li>Cuban also defended NFTs, noting paintings and trading cards also lack practical uses.<\/li>\n<\/ul>\n<div class=\"inline-newsletter-signup &#10;                        headline-regular loading\" id=\"formContainer\" data-component-type=\"inline-newsletter-module\" data-event-label=\"10_things_markets\" data-list=\"10 Things Before the Opening Bell\" data-acq-source=\"marketsverticalinline\">\n<section class=\"inline-newsletter-content\">\n<div class=\"js-loader hidden\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"svg-icon \" version=\"1.1\" role=\"img\" width=\"50\" height=\"50\" viewbox=\"0 0 50 50\" style=\"enable-background:new 0 0 50 50;\" xml:space=\"preserve\">\n                        <title>Loading<\/title>\n                        <desc>Something is loading.<\/desc>\n                        <path fill=\"#111\" d=\"M43.935,25.145c0-10.318-8.364-18.683-18.683-18.683c-10.318,0-18.683,8.365-18.683,18.683h4.068c0-8.071,6.543-14.615,14.615-14.615c8.072,0,14.615,6.543,14.615,14.615H43.935z\">\n                          <animatetransform attributetype=\"xml\" attributename=\"transform\" type=\"rotate\" from=\"0 25 25\" to=\"360 25 25\" dur=\"0.6s\" repeatcount=\"indefinite\"\/>\n                        <\/path>\n                      <\/svg><\/div>\n<\/section><\/div>\n<p>Mark Cuban compared cryptocurrencies to the early internet in terms of hype and skepticism, predicted a shake-out in the crypto space, and defended non-fungible tokens (NFTs) in a <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/mcuban\/with_replies\" data-analytics-module=\"body_link\" target=\"_blank\">flurry of tweets<\/a> this week.<\/p>\n<p>&#8220;People dismissed the net just like they are crypto,&#8221; Cuban <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/mcuban\/status\/1531455613837926400\" data-analytics-module=\"body_link\" target=\"_blank\">tweeted<\/a>adding that naysayers failed to grasp the revolutionary potential of networked computing.<\/p>\n<p>The &#8220;Shark Tank&#8221; investor and Dallas Mavericks owner drew a parallel between dot-com fever two decades ago, and crypto fervor today.  He said an industry downturn will temper the rampant promotion and speculation, and help decentralized finance (DeFi), smart contracts, and other genuine opportunities stand out from the crowd.<\/p>\n<p>&#8220;The challenge is that we are in the gold rush stage where every one is selling technology and \/ or Hype over applications,&#8221; Cuban <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/mcuban\/status\/1531465523300642817\" data-analytics-module=\"body_link\" target=\"_blank\">tweeted<\/a>.  &#8220;Bear markets clean that up.&#8221;<\/p>\n<p>The billionaire investor likened the crypto community&#8217;s arguments about which tokens and platforms are best to the debates about networks and operating systems in the internet&#8217;s early days.  Eventually, the computing industry settled on defaults, in the form of ethernet and Microsoft Windows.<\/p>\n<p>&#8220;The same will happen with Blockchain,&#8221; Cuban <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/mcuban\/status\/1531473342930247680\" data-analytics-module=\"body_link\" target=\"_blank\">tweeted<\/a>.<\/p>\n<p>Cuban also touched on the recent crypto sell-off, noting that venture capitalists have pulled back from the space, driving prices lower.<\/p>\n<p>&#8220;Crypto has had a rush of investors subsidizing user bases,&#8221; he <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/mcuban\/status\/1531508514392363008\" data-analytics-module=\"body_link\" target=\"_blank\">tweeted<\/a>.  &#8220;Those VCs got crushed and stopped. No incentives, no new users, Crypto go down.&#8221;<\/p>\n<p>The investor argued in <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/mcuban\/status\/1531463837832069125\" data-analytics-module=\"body_link\" target=\"_blank\">another tweet<\/a> that, just like in the dot-com era, the greatest value of a new technology lies in applications that solve problems, serve consumers, or boost profits and productivity.<\/p>\n<p>However, Cuban dismissed the idea that NFTs are worthless because they have limited practical use.<\/p>\n<p>&#8220;Neither does the Mona Lisa or any piece of art, trading card or others, unless the owner sees something special in it,&#8221; he <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/mcuban\/status\/1531469210672680960\" data-analytics-module=\"body_link\" target=\"_blank\">tweeted<\/a>.<\/p>\n<p><em><strong>Read more:<\/strong> A $ 1.5 trillion asset manager dissects why bitcoin is&#8217; kryptonite &#8216;for institutional investors&#8217; portfolios &#8211; but identifies 4 areas they should invest in now for long-term growth<\/em><\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mark Cuban likened crypto to the early internet in terms of its believers and doubters. The &#8220;Shark Tank&#8221; star said a crypto downturn would highlight the best opportunities in the space. Cuban also defended NFTs, noting paintings and trading cards also lack practical uses. Loading Something is loading. Mark Cuban compared cryptocurrencies to the early &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/mark-cuban-compares-crypto-to-early-internet-sees-upside-to-downturn\/\"> <span class=\"screen-reader-text\">Mark Cuban Compares Crypto to Early Internet, Sees Upside to Downturn<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":31007,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[],"jetpack_featured_media_url":"https:\/\/i.insider.com\/62961c60ff955c0019c60dae?width=1200&format=jpeg","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/i.insider.com\/62961c60ff955c0019c60dae?width=1200&format=jpeg","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/31006"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=31006"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/31006\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media\/31007"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=31006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=31006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=31006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}