2025-12-07 12:24:05

Matt Huang, the co-founder of Paradigm, posted an interesting tweet today. He thinks that right now might be the "Netscape moment" or the "iPhone moment" for the crypto space.

What does that mean? It means that the scale at which crypto systems are operating has already exceeded what many people previously imagined. Not only are institutional players entering the space on a large scale, but even the cypherpunk geek circles are getting deeply involved. The entire ecosystem is expanding in an unprecedented way.

This analogy is actually quite fitting—Netscape Browser ushered in the Internet era, while the iPhone redefined the mobile internet. Now, will the crypto industry also experience a similar explosive tipping point? It's worth watching.

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CryptoTarotReader

· 12-09 00:00

Wait, isn't this analogy overestimating the current scale a bit? Has Matt been telling stories again lately? Feels like crypto is still far from that level. But to be fair, there are indeed more people entering the space—it’s just hard to say how long they’ll stick around. “iPhone moment”? I think we still have to wait; right now it’s still a niche toy. A large scale ≠ real adoption, let’s not hype ourselves up too much.

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CodeZeroBasis

· 12-08 10:21

Matt Huang, this analogy is really spot on, but I still think the crypto space is far from reaching that scale. I heard similar claims a couple of years ago, and what happened? It's still a bunch of people taking advantage of newcomers. That being said, institutions are indeed entering the market much more aggressively than before, and that can't be denied.

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UnruggableChad

· 12-07 12:53

Matt, that analogy is really spot on, but we still have to wait for a true killer app to appear. By the way, can this really compare to the iPhone level right now? Feels like it's still missing something. Wait, is it really not going to get rugged this time? Haha. Is institutional entry all it takes? Or do we still have to see if regular people can actually use it? Anyway, this timing is definitely interesting, but you should really think it through before betting your entire life savings.

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CoffeeNFTs

· 12-07 12:53

I love that Netscape meme, but honestly, this time it's not quite the same... Back then, no one was going up against the government. An iPhone moment? Ha, if it really were, we would have gone all in already. Matt has good foresight, but who knows what'll happen when the next bear market hits. The scale is definitely big, but what about user stickiness? That's what really matters, right? Another "inflection point"—they said it last year, and the year before that. I'm tired of hearing about cycles. Feels more like the boom right before Netscape got killed by IE... Institutional entry is a hard indicator, that's definitely different this time. Breakout inflection point? Sounds nice, but I just want to know who will be left holding the bag.

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GovernancePretender

· 12-07 12:50

Matt is right, this wave really does feel different, and you can visibly see the scale of institutional entry upgrading. But wait, is it too early to call this an "inflection point"? Feels like someone says this every bull market. Honestly, that iPhone moment analogy is a bit optimistic—we’re still a long way from that, but the trend is definitely there. Will you bet this is truly the dividing line? I think the odds are actually pretty high. Wtf, here comes the Netscape comparison again. Every time they say "this time is different"—is it for real? With more institutional players, the ecosystem is definitely healthier, but it's still easy to get rekt. Let’s just wait and see, don’t get fooled by all this talk. History always repeats itself.

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VCsSuckMyLiquidity

· 12-07 12:44

Matt Huang's analogy is spot on, but I'll wait and see. Last time I heard about an "iPhone moment" people were still talking about Dogecoin... --- Netscape moment? Haha, didn't they say the same thing when institutions entered the space... Is it real this time? --- I agree that the scale is beyond imagination, but an inflection point? Bro, that word is so overused in crypto, totally worn out. --- How are those cypherpunks doing now? By the way, can this cycle really take off? --- So should I go all in or just keep watching? That's the real question. --- Another Paradigm narrative... Whatever they say, I take it with a grain of salt. --- Expansion is one thing, but how many will actually stick around? That's always how it goes in history. --- I like this analogy, just don't get fooled.

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governance_ghost

· 12-07 12:39

Hey, Matt's analogy is pretty interesting, but it feels a bit early to call this an "inflection point." Back in the Netscape days, there weren't nearly as many institutions involved. Now, it's almost the opposite, isn't it? But seriously, if we're talking about an iPhone moment, it would require users to have suffered from high gas fees for a long time—that's the real tipping point. Big money flowing in ≠ application explosion, don't mix them up, man. I get what Matt means, but saying this in the current cycle sounds a bit too optimistic. Let's wait and see.

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TestnetFreeloader

· 12-07 12:35

The analogy with Netscape and the iPhone is really far-fetched, but that being said, the institutional entry wave started a long time ago. Isn't it a bit late to talk about the "moment" now? Wait, shouldn't the real turning point be when ordinary people start using it seamlessly? Right now, it's still just geeks playing around. This narrative does sound nice, but I'm just worried it's another signal for cutting retail investors. Bro, do you really think the current scale can be sustained, or are we in for another big crash? Matt is hyping things up, but what I care more about is when those newly arrived institutions will start dumping.

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