Before we begin with boring bitcoin stuff....
Here's a pretty silly yet catchy song:
warning: there are curse words in this song/rap so don't watch if you're offended by this stuff
A study in Electronic Commerce Research and Applications, going back through the network's historical data, showed the value of the bitcoin network as measured by the price of bitcoins, to be roughly proportional to the square of the number of daily unique users participating on the network. This is a form of Metcalfe's law and suggests that the network was demonstrating network effects proportional to its level of user adoption. <--- I got this off of Wikipedia after performing the google search "bitcoin wiki"
So, what does this mean to me?
It means that the more users exhibit confidence in bitcoin, the more people will adopt it, the more people will attempt to acquire bitcoin, and the more people will embrace it. Apparently, bitcoin's success is highly dependent on the number of active users.
In my opinion, the number of active users can increase even more if there's easy to understand information about what actually bitcoin is & how it works, in addition to all the terminology behind it. It doesn't hurt to have a mathematical/computer science background in order to be able to truly understand cryptocurrencies. Although I do have a background in math/comp sci, I've stopped using it because I branched out into teaching/education and got my masters in Psychology instead of compute science, which would have complemented by bachelors degree in computer science.
No issues. I can still use my analytical mind to understand complex information and "hash" it out in a way that the layman can understand. At least that's what I'll attempt to do. One thing about me though is that I rarely stick to one thing so there's a very good chance that I'll stop spending time on crypocurrency and just move onto something else.
In other words, I lose interest quickly.
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