The tape in your cassette tape could melt, get magnetized, chip, stretch, and/or break.
Could you make a copy of your cassette tape? Sure.
But how would you send a copy of your cassette to your friend? You could hand-deliver it or mail it, which is slow and incurs some cost.
CDs were a huge step up. Other than getting scratched, CDs were much more durable.
Could you make a copy of your CD? Sure.
But how would you send a copy of your CD to your friend? You could hand-deliver it or mail it, which is slow and incurs some cost.
Fast forward to 2024.
How do you store or send a copy of a cassette tape or a CD on the Internet? You can’t, because they’re physical objects and incompatible with the Internet.
You need digital music for an Internet world. Which means the cassette’s plastic housing and magnetic tape as well as the CD’s polycarbonate plastic are unnecessary. All you need is the music.
With the Internet, you can store, copy, and distribute music to everyone – instantly.
Money is going through the same transformation.
From gold, silver, and copper to paper currency to typing credit card numbers into websites on the Internet.
For thousands of years, gold was the best form of money.
But how do you store, spend or send gold on the Internet? You can’t, because gold is a physical object and incompatible with the Internet.
The Internet needs a native digital currency. A digital gold.
Not only is Bitcoin digital gold, as Andreas M. Antonopoulos says, #Bitcoin is the Internet of Money.