RE: How Early Are We In The Crypto Game?
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Do you really believe we are still pre-chasm?
It seems like we were in the chasm doldrums last, last year.
Now, it could be that bitcoin is everything and all things.
Its just software, so it could inherit ALL the features.
Instead of bitcoin and litecoin and hive
we could see
bitcoin.litecoin and bitcoin.hive
but this can only happen after things get really set in stone.
It could happen, but it really retards growth.
That said, cross-platform swapping algorithms, once they get really seamless
will make everything bitcoin.
Your phone may send digibyte and litecoin. The coffee shop may have CoffeeCoin (a coffee futures coin) as its main holding, but all both people see on the screens is how much bitcoin.
There is one big caveat for the growth of cryptos.
Most of the financial markets are going to evaporate.
Those big, big numbers won't be able to be converted into bitcoin.
The on-ramp is too small. And the pressure that will destroy the old system too big.
Hard to tell, it seems we have chasm like experiences every couple of years. We might be passed it but who knows.
The part about Bitcoin is interesting. We will have to see how this all unfolds. Bitcoin looks like it will be the asset that a new financial model is built upon although I am not sold on everything diverting into Bitcoin. In fact, that seems to go against the shift, in general, away from centralization of computing.
Nevertheless, we will have to see where the development takes us. If that is the direction coders go and it is quickly adopted, which is could be, then we might have our answer.
The existing financial markets do not know how screwed they are. They think the WallStreetBets was a slap to the face, they havent seen anything yet. That is a small ripple in the tidal wave that will eventually flatten them.
They will be all trying to get into the safe lifeboat as the ship starts sinking. Unfortunately for them, there will be very few seats. The bloat is going to take most down.
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In my opinion it will be some bitcoin fork in the future that can act more like a currency. Effective currencies lead to true economic prosperity and in that masses of people see usefulness and ease of use is also necessary. Bitcoin is none of that. Bitcoin is a now corporate wallstreet rich mans' game. It's like walking up to the average person and trying to trade them gold for their dollars. They find more use in their dollars because more people accept them. Bitcoin feels like a venture capitalist and wallstreet fantasy come true and they own chunks of it probably almost all of it.
So i don't think the onboarding and adoption will come from bitcoin or 99% of altcoin projects. I think it will more than likely be a bitcoin fork with a good distribution system to the people where it was meant to be and not controlled by big insitutions and corporations .. a system not a business on the blockchain. An economic overall system that works for the people otherwise we can use the systems we already have in play.
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You mean like Litecoin?
The problem is that a digital cryptocurrency is only a step towards real money.
Real money has really weird properties.
Like it can't be accumulated, nor can it be skimmed. (but these are not the correct terms, something along the lines of you cannot make getting money for money's sake a thing.)
When a person manufacturers something, they also need to create money for which someone to buy it.
So the money, and the good, travel around in a big circle, and then extinguish themselves.
This kinda stuff will just be built into the block-chain of the future, but today they sound like weird, way out there, concepts.
No i highly doubt i mean like Litecoin. Litecoin is likely following the pattern of bitcoin. It's probably likely Litecoin distribution is even several times worse than bitcoin and every bitcoin fork for the most part. Bitcoin distribution is poorer than any major asset class in existence i'm sure.
I agree with this point.. ."Real money has really weird properties.
Like it can't be accumulated, nor can it be skimmed. (but these are not the correct terms, something along the lines of you cannot make getting money for money's sake a thing.)
Yes like staking to no end and seemingly this is what we do in most crypto projects. Bitcoin for example is no more valuable at $1 than it is at $100k. Speculation can push it to any value. We don't know the real value and large scale manipulation can achieve such things quite easily. So yes i agree with your point about the cycle of money. That's why at best i rate and value crypto projects on users and network. The more " attention value" the possibility of more value.
So to me for the most part cryptocurrencies haven't garnered enough attention value. It has the attention of institutions but not really retail investors.
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