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RE: SCARY Trend in Bitcoin & Other Cryptocurrencies

in #bitcoin7 years ago (edited)

@cryptovestor, while their needs to be some actual measure of adoption in the future, I'll tell you I believe this to be true across all media, Twitter and facebook isn't fucking news. Never hopefully will be, but certainly isn't now. People report on twitter beefs like they're news, but they are in fact smoke and mirrors bullshit mostly. Crypto and tech companies have a slightly different relationship to social media than celebrities, but I disagree with it being used as a metric of adoption.

Adoption can't and shouldn't be measured against social media dominance because while not entirely irrelevant, a company's success can and should be completely separate from their social media like rate. Seriously. These are two entirely separate domains, let's not conflate the two. Of course a bomb of a failure on twitter can and will effect your company in the real world, but these are not metrics that can stand in for one another.

I was interested to see the network usage go down, but again that is no surprise and doesn't tell the whole story. Of course batching is going to reduce that. A major crash is going to reduce that, since people won't want to buy, and hodlers won't want to sell. Sideways price movement or less aggressive price action at the very least explains a good portion of this. With less price action to drive fiat to crypto, crypto to crypto, crypto to fiat, and all kinds of network activity, the participants aren't as financially incentivized to be active.

Interesting video, although I must say I was talking over your metrics of adoption and largely thinking, "please let's not use that...or that...or that...or that...okay fine that's cool but misses this..." alot of that hahah.