The Profitability of the Internet: Difference between revisions
Jeff Hermes (talk | contribs) mNo edit summary |
CyberRalph (talk | contribs) |
||
| Line 42: | Line 42: | ||
== Class Discussion == | == Class Discussion == | ||
<div style="background-color:#CCCCCC;">'''Please remember to sign your postings by adding four tildes (<nowiki>~~~~</nowiki>) to the end of your contribution. This will automatically add your username and the date/time of your post, like so: [[User:Asellars|Asellars]] 15:29, 21 January 2013 (EST)'''</div> | <div style="background-color:#CCCCCC;">'''Please remember to sign your postings by adding four tildes (<nowiki>~~~~</nowiki>) to the end of your contribution. This will automatically add your username and the date/time of your post, like so: [[User:Asellars|Asellars]] 15:29, 21 January 2013 (EST)'''</div> | ||
While the phrase "irrational exuberance" was mentioned in the readings, I'm surprised more was not made of it. In the 1990s there was most certainly a rush to jump on any investments that involved a company that had a .com extension to it's name with little or no scrutiny of the books or fundamental numbers of that company. While the bubble was partially based on sound fundamental judgment - the advent of the web browser and the world wide web in 1994 which made the Internet accessible for so many more non-technical people around the world and this created a much bigger market for e-commerce. However, the cart was put a bit before the horse and a lot of the growth associated with the explosion of Internet access was over exaggerated and not based on sound fundamentals. | |||
The Long Tail article brought up an even bigger point than it intended. It pointed out how the Internet offers certain opportunities to exploit niche markets in the entertainment industry, but this goes beyond the entertainment industry to all aspects of the economy and even extends outside of commerce. | |||
As far as Bitcoin is concerned, as someone who works in the information security field, I am immediately and significantly skeptical about the protections any digital currencies provide against fraud, especially with regard to duplication. I would absolutely echo some of the concerns relayed in the article - about the security of sharing the Bitcoin architecture with any number of unknown entities (individuals or groups) and relying on them for the integrity of the network as a whole. Although, I will admit that some of the issues discussed in the article - such as not accidentally deleting your Bitcoin wallet - can be prevented via basic data backup technologies and procedures and utilizing a minimal amount of common sense. I think it still has potential and whether Bitcoin is the currency of the future or not, there will be a legitimate virtual currency that catches fire and crosses international boundaries at some point. | |||
[[User:CyberRalph|CyberRalph]] 11:10, 28 April 2013 (EDT) | |||
Revision as of 10:10, 28 April 2013
April 30
The rise of the networked economy is changing economic possibilities around the world. From the call centers in India to eBay and the new Internet entrepreneurs, there are many signs that suggest a flatter world fueled by innovative production and marketing strategies. In this session, we will explore the promise and reality of the changing economic tides associated with rising Internet use including those marketing to the long tail and the new oligopolists.
Assignments
Assignment #4 is due before class today. You can upload the assignment here.
Readings
Optional Readings
Videos Watched in Class
Links
Class Discussion
While the phrase "irrational exuberance" was mentioned in the readings, I'm surprised more was not made of it. In the 1990s there was most certainly a rush to jump on any investments that involved a company that had a .com extension to it's name with little or no scrutiny of the books or fundamental numbers of that company. While the bubble was partially based on sound fundamental judgment - the advent of the web browser and the world wide web in 1994 which made the Internet accessible for so many more non-technical people around the world and this created a much bigger market for e-commerce. However, the cart was put a bit before the horse and a lot of the growth associated with the explosion of Internet access was over exaggerated and not based on sound fundamentals.
The Long Tail article brought up an even bigger point than it intended. It pointed out how the Internet offers certain opportunities to exploit niche markets in the entertainment industry, but this goes beyond the entertainment industry to all aspects of the economy and even extends outside of commerce.
As far as Bitcoin is concerned, as someone who works in the information security field, I am immediately and significantly skeptical about the protections any digital currencies provide against fraud, especially with regard to duplication. I would absolutely echo some of the concerns relayed in the article - about the security of sharing the Bitcoin architecture with any number of unknown entities (individuals or groups) and relying on them for the integrity of the network as a whole. Although, I will admit that some of the issues discussed in the article - such as not accidentally deleting your Bitcoin wallet - can be prevented via basic data backup technologies and procedures and utilizing a minimal amount of common sense. I think it still has potential and whether Bitcoin is the currency of the future or not, there will be a legitimate virtual currency that catches fire and crosses international boundaries at some point.
CyberRalph 11:10, 28 April 2013 (EDT)