What does the Ford Model T have to do with Bitcoin?
The Model T is the first mass-affordable automobile, making car travel available to middle-class Americans. The relatively low price was the result of Ford's efficient fabrication rather than focusing on embellishments.
While other manufacturers were focused on creating something "new," not necessarily better, Ford remained focused on continuously improving invisible parts of the vehicle.
Cadilac, for example, was more interested in making "one-off" vehicles for wealthy individuals, and others designed around planned obsolescence so they could sell customers something that looked "new."
Meanwhile, Ford remained focused on perfecting the assembly and performance of the vehicle. He was focused on details like the exact quality of steel and ultimately selected 20 different types of steel that served the exact function it was designed for. Many of these innovations were "invisible" to our eyes.
Sure enough, this focus on continuous improvement consistently led to the cost of the Model T to come down over 19 years. Ultimately, it achieved a price point that was affordable to middle-class Americans.
Ford was not distracted by embellishments to make the Model T look "new." He focused on performance, which eventually beat all the competition.
The form factor had not changed much, so it came as a surprise to many. Here is the Model T in 1910:
And here, 15 years later, in 1925:
The same thing is currently happening to the Bitcoin network. The network is maturing into a public utility with increasing engagement, strength, utility, and resilience.
Many of these changes are "invisible" to the eye.
Others are focused on embellishments that look "new."
Time will tell. Tick, tock, next block.
The Model T is the first mass-affordable automobile, making car travel available to middle-class Americans. The relatively low price was the result of Ford's efficient fabrication rather than focusing on embellishments.
While other manufacturers were focused on creating something "new," not necessarily better, Ford remained focused on continuously improving invisible parts of the vehicle.
Cadilac, for example, was more interested in making "one-off" vehicles for wealthy individuals, and others designed around planned obsolescence so they could sell customers something that looked "new."
Meanwhile, Ford remained focused on perfecting the assembly and performance of the vehicle. He was focused on details like the exact quality of steel and ultimately selected 20 different types of steel that served the exact function it was designed for. Many of these innovations were "invisible" to our eyes.
Sure enough, this focus on continuous improvement consistently led to the cost of the Model T to come down over 19 years. Ultimately, it achieved a price point that was affordable to middle-class Americans.
Ford was not distracted by embellishments to make the Model T look "new." He focused on performance, which eventually beat all the competition.
The form factor had not changed much, so it came as a surprise to many. Here is the Model T in 1910:
And here, 15 years later, in 1925:
The same thing is currently happening to the Bitcoin network. The network is maturing into a public utility with increasing engagement, strength, utility, and resilience.
Many of these changes are "invisible" to the eye.
Others are focused on embellishments that look "new."
Time will tell. Tick, tock, next block.