I keep hearing the same question over and over again: what will happen to bitcoin? Will it grow? Will it drop? I mostly get this from people far from the crypto world.
At the same time, people familiar with the matter collect ‘mathematical signs’. Here is a diagram – they point at some diagram – and this means either growth or decline. Those people are disconnected from reality and do not learn from history.
There were guys who founded a company called Long-Term Capital Management back in the 90s. Two Nobel laureates were among the founders. They honestly believed in the predictive power of statistics, mathematics and probability theory. Then, a number of events those guys considered unlikely or even impossible occurred in 1998. The company went bankrupt. Predictive power of mathematical models proved ineffective on the exchange. Now everybody forgot this story: people still like hiring physicists and developing AI to gamble on stock exchanges.
Personally, I do not believe in such things. Nobody can predict the future. Neither Warren Buffett, nor physicists, let alone economists. And astrologists can’t help because they are not good with predictions either. Thus, my conclusion is relatively simple: nobody knows what the future will bring.
We can try to build the future we want, though. Do I want crypto and bitcoin to grow? I do. I’m not going to lie. I will get profits from this. But what keeps BTC from growing? Bad marketing.
Many ordinary people know there is such thing as bitcoin and some even know what cryptocurrencies are. The thing is, an ordinary person does not have any reasons to get into this game. Many members of the crypto community do not think much of newcomers, taking them for fools because they did not see the potential in cryptocurrencies. However, the whole crypto world now is not bigger than an Esperanto lovers club. So if we want the crypto community to expand, we need new blood; in fact, we need more people than we already have.
I believe that our task is to attract ordinary people in the crypto world, not to treat them as fools. The long-awaited growth of crypto will happen only if we adopt this policy.
The next fair question is: what should we do? How can we attract people?
There always are unemployed people, people with lots of free time and those who work from home. Me and my team are currently putting a great deal of energy and time into attracting freelancers, people who want to offer their services, to our marketplace where they can find clients and receive payments in crypto. We have to explain (over and over again) how to receive and store crypto, and what they can do with it afterwards. And you know what? Almost all of them agree to publish their ads on our website. This is additional income and advertising – so, why not?
I’m not saying we are doing everything right. I just think that our actions have more impact on the community than endless attempts to predict the future of bitcoin.