mass-adoption nears Via forbes BTC

cnts (64) in forbes • 7 years ago (edited)

https://www.forbes.com/sites/eidoo/2017/10/31/cryptocurrencies-mass-adoption-is-near/#56da3e907523

Up√otes for comments via @cnts :]

upvote follow resteem.gif

7 years ago by cnts (64)

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!

Sort Order:

Trending

[-]

scipio (65) · 7 years ago (edited)

And on topic: mass adoption near for crypto currencies... I'm not convinced about that yet. Look at the Diffusion of innovations by Rogers.

Regarding the theory of Diffusion of Innovations by Everett Rogers, let's look at crypto assets: the total amount of Bitcoin wallets is still only a fraction of the global population. The global market capitalization of crypto assets as of now equals roughly 170 billion USD, which obviously is a lot, but it's also just a fraction of the global gold market cap currently worth about 7760 billion USD, and "narrow money" currently worth roughly 28600 billion USD. The phenomenon of crypto assets as a whole must reach a critical mass of user adoption in order to self-sustain, but by which key metrics to measure the concept of "critical mass" is open for debate. Be it "market capitalization" or "user adoption", global adoption of crypto assets is still in the 0 to 2.5% percent range and therefore currently still to be considered as "innovation stage", I argue.

$0.53

1 vote

[-]

cnts (64) · 7 years ago (edited)

wander what transaction fee's would be during mass adoption? ;] 100 percent up√ote for your great thoughts..

$0.00

1 vote

[-]

cnts (64) · 7 years ago

would be greater.... but been smashing out the up√otes! ;]

$0.00

[-]

scipio (65) · 7 years ago

Haha! Yes that happens to me too (although my steempower, after 9 days of steemin', is stilll so low that at full power my upvote doesn't even account for $0.01 yet! I need more power! ;-) )

And btw, super-thanks for giving me your 100% upvote! I try to be in-depth at posts that deserve it, and writing good quality content, also comments not just posts, take quite a lot of time to write!

$0.06

1 vote

[-]

cnts (64) · 7 years ago

increases your word per minute skills.. keep it up!!

$0.00

1 vote

[-]

scipio (65) · 7 years ago

I have ideas of that as well actually ;-)
In the future, I don't think Bitcoin will be used (as intended originally) for small transactions. That's because in essence BTC is scarce by design (max. 21 million coins), which is also true for (most) other crypto assets, but since anyone can create a new crypto coin, the crypto market as a whole is not scarce at all.

So I perceive Bitcoin as "future gold", which people value (due to hardware mining investments / ASICs) as very valuable and therefore as a "backing asset". Other cryptos can be used for quick and easy monetary transactions per se, at a very low fee (or even zero, depending of a specific crypto tech stack set up).

$0.00

[-]

ecocoin (13) · 7 years ago

I was studying your stuff right now. Just a good time to be a successful person.my favorite page , follow up , It is nice to follow you. @cnts :)

$0.09

1 vote

[-]

cnts (64) · 7 years ago

such kind words.. upVoted :]

$0.00

[-]

xplay (11) · 7 years ago

hello frineds @cnts Thank you so much for sharing all this information! that's great! All the best! @cnts Waiting for more posts! :)

$0.09

1 vote

[-]

scipio (65) · 7 years ago

First! :-)

$0.08

1 vote

[-]

fechaugger (48) · 7 years ago

First guy in Steem, to think this is youtube,

$0.08

1 vote

[-]

cnts (64) · 7 years ago

prolly not the last though? ;] upVoted brother.. :]

$0.00

1 vote

[-]

cnts (64) · 7 years ago

firstblood :}

$0.00

1 vote

[-]

cryptoocurrency (11) · 7 years ago

I was studying your stuff right now. Just a good time to be a successful person.my favorite page , follow up , It is nice to follow you. @cnts :)

$0.07

1 vote

[-]

interestinginfo (15) · 7 years ago

@cnts splendiferous,It is nice to follow you. follow up I am sure very good sharing. I'm starting to read it now. I wish you continued success. I will continue to follow you. Take care of yourself, my dear friend .