Ghandi once said: “First they tell you it’s play money, then they tell you it’s a bubble, and then they ask you where to invest”.
Well, it wasn’t actually Ghandi who said that. But let’s face it, it does sounds a lot better than saying that I got bored, and started playing this little game where you take famous quotes from history and try to give them a time-update.
But I think the point stands regardless.
Any new technology, invention or uncommon idea is bound to receive a lot of the resistance when it’s first introduced to the masses.
However, that resistance - sooner or later - is bound to fade away once a certain critical mass starts to gather around that idea.
Have cryptocurrencies reached that point yet? Are we still approaching it? I don't know, but one thing is sure is that there is more and more mainstream influential people adopting and promoting this technology than the previous years.
"Why would a bank be closed on a Saturday and Sunday? You know why? Because they are greedy motherfuckers that have been making too much money for too long and didn't have any competition..."
"...Your job, and all the crypto guys out there that are in love with this is to make sure people understand how simple it is, how real it is, and how easy it is to use." ― Grant Cardone @grantcardone
For many of you reading this, you’ve probably seen how hard it was a few years ago to explain cryptocurrency to people.
It went from ridicule, to scam, to bubble… Passing by the hundreds of mistaken obituaries about the upcoming death of bitcoin and the rest of cryptocurrencies.
In fact, rivers of digital ink has been spilled on failed doomsday predictions. There’s even a website that records all the obituaries of bitcoin alone.
Of course, the experts who made these outrageous claims were horrified. They were swallowed by shame, they apologized and were never heard from again... I’m just kidding.
On top of all of that doom and gloom, and at the end of the day just when you think you've heard it all... There were an still additional 10.000 excuses or reasons on why cryptocurrencies would never work. My personal favorite is this one:
People will never adopt cryptocurrencies because they have been using gold for hundreds of years.
So what? People have been using candles for hundreds of years as well. Tell me a single place in town that still operates on the candle lighting system every day of the week.
Aside from the set of Game of Thrones and some S&M dungeons.
Ironically enough, there’s an important lesson to be learned here. When electricity came along people didn’t adopt it right away despite all the benefits that it brought them. All the contrary in fact.
It took decades for people to be comfortable enough around the new invention, and they needed to watch many, many other people adopt it first in order for their fear-of-the-new instincts to be soothed and replaced by a new sense of intrigue and FOMO.
At a historical level, this phenomenon is predominant all across the board. For instance, did you know that credit cards were invented in the 1950s?
How long did it take for that trend to catch?
People used to much rather wait in line for half a day to speak with a bank clerk, than to use a new invention that was much more convenient for them and which would've saved them a lot of time.
Though it would be fair to observe that back then there was a handful of channels that controlled just about all the information you had access to.
Which take us to our next invention: The internet.
You see, the internet was invented on 1983, however it wasn’t until the late nineties (or even early 2000s) that the internet was found in every home of the common man.
Then we have the blockchain. Although it was invented only a few years ago, it still managed to record billions of Dollars in transactions and millions of users worldwide despite its relative youth.
Granted, there is still a lot of fear and skepticism around the technology nowadays, but everything seems to be pointing out that the mass-adoption process would be much shorter this time than with the previous life-changing inventions.
Especially given the large distribution of information systems that we have today.
How Long Till We Hit the Bell Curve?
Barely a few months ago, cryptocurrencies had little to no representation among mainstream influencers.
Now you look around and everyday you find a new financial adviser, lifestyle-guru, self-help expert… Posting their Bitcoin tutorials or selling their cryptocurrency classes.
Even longtime crypto-skeptics like James Altucher for example are now promoting the technology in MSM television channels and in their own newsletters.
It gets better, guess what was featured on the latest The Big Bang Theory episode?
One can never predict what the future holds but it does seem like the trend is about to break the first level of resistance, and 2018 may very well be be that year.
What do you think? Do you think cryptocurrencies could break the first-level of mainstream resistance in this 2018?
Feel free to leave your comments below!
I am not sure it would be in 2018 but it is sure looking like that! I'd love to see this happen very soon and it it just might
Oh I meant that if in 2018 we could already see podcasters and bloggers from outside crypto jumping on board, not the masses perse.. But you may be right, 2018 might be way too soon. I'd love to see that too :)
I believe as soon as one european coountry wil start using it as a official payment method.
Which one do you think it's the first? My bet is Estonia or Lichenstein :P
You can almost see the money moving between the three.
Bitcoin -> Litecoin -> Ethereum
Right now I'm scraping the bottom of the Ethereum barrel for it's next run up.
This week I have had two family members that I never hear from call me to ask me about Bitcoin and cryptocurrencies in general. I think the day when the general masses adopt these currencies s not too far off in the distant future.
Experiencing the same thing haha. The funniest part is that now they wonder if its too late 😂 this is just the beginning people!!
In the end: the pensioners have their pensions not in Bitcoin. Do you grasp the implications?
Of all people, you would think the people nearing retirement would ‘get it’ because they have been around long enough to remember what a dollar used to buy, and what zero interest rates on savings + inflation does to you.... rekt. Crypto is complicated though. I have a good hunch that 2018 will bring usability to Bitcoin in some sort of killer messaging / money app. Square? Facebook? Coinbase? Get ready and stock up now.
Oh I think almost everyone I know had family and friends asking these questions in the last days.. That's really a great sign!
At my workplace, I’m the ‘Bitcoin guy’ and from the Mt Gox crash until about 2 weeks ago all I got at work about Bitcoin was ::crickets:: in spite of my prominent break room ‘Keep Calm and use Bitcoin’ coffee mug. About the time it hit $15K (and that BBT episode aired) they started talking to me about it. FOMO is in the air.
Me too !! 🤣
Weis es nicht!
When Bitcoin reaches $85,000 it's "coins" combined will have surpassed all $1.6 trillion of the US currency in circulation.
Oh wow, that's a hell of a circualtion!
Its getting there and when fully excepted this growth will seem like such a small amount
Full Spectrum Retard
Forgot the /s in that post. LOL
Great discussion. It certainly seems like the development has gone faster with cryptos than it did with the Internet. They could go mainstream soon, but a lot of development still remains before cryptos can reach their potential in real world applications.
That's an excellent point, there is still a lot of development that needs to be done, but hopefully the adoption goes organically in measure with the evolution of the sector.
I suspect the majority of the influencers will start promoting bitcoin first, then the rest of the alts after a while, and then finally the rest of blockchain tech, smart contracts, platforms..etc. It could take a while until we get to a full blown mass adoption I think.
I would upvote you 1000 times over if I could. Your comment is spot on.
everyone seems to be promoting it and it is leading to the rise
Exactly, and that's an awesome thing I think :)
as far as i know gold prices have gone down by 2 % in the last month and people are investing in bitcoins huge transition phase is coming
Oh that's interesting. I think that was bound to happen that people move a portion of their Gold and silver investment into cryptos.
Bring on the transition ;)
Ist schon fast zu bekannt!!
Ich wünschte, ich könnte Deutsch verstehen :P
Crypto to the Moon :)
patogu...
The mainstream resistance as far as i know has been broken and its result will be seen in some days :)
I think we're on for a great ride :)
Ride on until you Steem on ;)
Mainstream adoption is just beginning to ramp.
Everyone should get themselves a few pieces of BTC in their stockings for XMas
Haha I think this Christmas would be the first one where kids would start leaving BTC addresses for Santa instead of wish list.
You know what man? I just joined Steemit and I was hearing all about "naaay, don't vote on content that already earned a bunch and is past 30 minutes."
Well I say forget about that, this is a golden post that sums up what the "real world" thinks about us cryptomaniacs, so ofc I am going to vote up nonetheless.
Let us make a better world, blockchain technology is giving us the means, but we must do the rest.
Haha thanks man! I appreciate it. I also never care about that part, I find it easier to just votes on things I like or find valuable to others.. It makes life easier.
Yes! Let us make a better world!
Die Bessere Welt beginnt bei uns selber!
Hey alien ... Don't you think break is already done ... First wallstreet with futures .. then yahoo comes out with list of top 100 crypto ... Now Craiglist posting few updates ... So big daddy is already into play now ... But grandpa Warren buffet is still uncertain ... Senor jamie tried how best but failed .. but uncle bill is keeping good track ... Microsoft got into iota ... Samsung into iota .. many big banks using ripple .. so resistance is already clear ... Few people remaining ... They have to n they will have to follow the word
I love this comment!
YES
Haha thanks Liondani!
Everyone in the mainstream lane: *Sees Bitcoin and cryptos becoming a bigger thing
Them: "Oooo a candy!"
:) It will eventually get to that point where it is common practice to talk about or use it, but luckily for us we were here before it was cool! Well... they were always cool.
Haha yeah! The candy thing was right on point man.
The new shiny object.. it could be a good thing.
exelente post ayuda a abrir los ojos a muchos q piensan q esto es algo pasajero lo de las criptomonedas y sencillamente este es el futuro de los movimientos de dinero virtual y toda clase d comercio
Muchas gracias! Me alegro que te guste.
Revolution! Nein
Einfach ein Rießen Geschäft!
This is spot on. More and more technology and features around blockchain are being developed, and banks are joining the wave too... I think we will see blockchain technology for a long time, and most people will join. It's only a matter of time. Unless something else replaces the blockchain technology. Anyhow, it will have the same principles, so we are slowly starting to see an internet revolution whether you like it or not 😊
Yes! bring on the internet revolution :) Or evolution ;)
Thanks btw!
Heck yeah brotha please everyone check this out and help bring Tai Lopez to Steemit
https://steemit.com/tailopez/@stealthtrader/let-s-bring-tai-lopez-to-steemit
Hey man! Yeah that's a awesome post you wrote, I hope we can bring him and many others to steemit!
I’m sure that we will see bitcoin hit a six figure number in the next few years... or less😂. I do believe that due to the ease of access with crypto we will see this become mainstream, and as more people discover this amazing technology we will see the price shoot up.👍
I think so as well, the more people use it the more valuable it becomes :)
My father keeps sending me emails from articles saying bubble...(sarcasm alert) don't listen to the person who has been saying crypto is going places this whole time dad, listen to the talking heads who are consistantly wrong.
Oh that's true. Most importantly no one knows what's gonna happen so it's better to only invest money you can afford to lose. But you made a solid point there, why listen to people who are always wrong/
There are predictions one can make without risk: I see there will be a pizza ready in nine minutes in this oven
Außer der Strom fällt aus!!
People are naturally skeptical about new things. Even centuries ago people were afraid of the new concept of using a knife, fork, and spoon as tableware to eat their meals. Imagine?
Haha yeah! In some places of the world today some people still are :P
Stimmt!
Neues ersetzt altes!
Aber nicht immer zum Forteil!
Manchmal sind die einfachen Sachen die langfristig besseren!
I think 2018 will be the start, but not the explosion.
There is still the upcoming Bitcoin crash to work through and the fightback from the mainstream banks / media etc.
but I think towards the end of next year is when the momentum will really start to pick up.
2020 will be the breakout year. Those with a good amount of crypto in their wallets will be in the box seat to make their fortunes.
Knowing my luck with investing, that's when my wallet will be empty ;-)
Oh that's actually what I was wondering, if in 2018 the first resistance will be broken.
Good luck with the investments man!
hehehehe thanks. The way I'm going I should be broke early next year ;-)
I sold all my SBD when it was $1.80 thinking I was getting a good deal. doh!
Damn i'm good. :-)
:) me too
I once read in Stephen J. Gould's book "Ever Since Darwin" that after Darwin's theory swept through Europe, the aging embryologist Karl Ernst von Baer, who was one of the theory's fiercest opponents, remarked with bitter irony that:
"Every triumphant theory passes through three stages: first it is dismissed as untrue; then it is rejected as contrary to religion; finally, it is accepted as dogma and each scientist claims that he had long appreciated its truth."
Oh well, if even scientists can be so stubborn I guess you can't blame the common man!
Haha well said!
That's a hell of a quote by the way, thanks for sharing. :)
???
I was laying in my bed, and a sudden thought came that I'm so lucky that I have right now time and possibility to dig in cryptos.
Damn I wish i new about BTC in 2010, gues not only me...
Haha everyone wishes they invested in 2010, we all do :)
I think we're slowly getting there. 2018 will get very, very interesting!
Oh I can't wait! Interesting indeed! :)
It really does seem like it has gone mainstreem and that the train can't be stopped.
Would mean dollar, euro, yen decline against crypto can't be stopped
Nein!
Alles kann auch den Bach hinunter gehen!
As long as there are many nocoiners it will be hard to break resistance :)
Well then let me also introduce a defenition:
evergreen-coiner
A evergreen-coiner is a person who has got himself some crypto currencies. And refuses to believe that anything could be wrong with a currency he or she invested in.
evergreen-coiners are careless about the energy consumption or the technological viability of the coin.
Hahaha nocoiner, the first time I hear that term believe it or not.
Thanks for the post whd. So nocoiner is the ordinary guy. He will lose all his savings.
Soon enough. It's already getting more mainstream the last month
thank great post :D
This post received a 4% upvote from @morwhale team thanks to @cryptomagic! For more information, click here! , TeamMorocco! .
Great post @the-alien ! Really good read. Thanks for sharing!
Upvoted and Resteemed !
Thank you!! :)
"Is it too late to join this whole internet thing? It seems like it's just a bubble."
Haha well said!
Kann sein// weis es nicht!
Derzeit zahlen die Neuen die Kurse der Alten Besitzer!!
(Handel )Jemand muss ja Stücke abgeben!
Good read 👍 here's an interesting article on when blockchain will unfold its potential
https://hbr.org/2017/01/the-truth-about-blockchain
Thanks for sharing man, will check it out.
That hbr blockchain article was a seriously good read. Thank you.
Thank you @cerimsonkate, I'm glad you liked it :)
Yes, isn't it? I like how reflective it is. We still have years to see the potential unfolding, but we here in this community are very much at the forefront of that innovation 👍
Glad I got me some Crypto! #future #invest #currency
I'm happy for you! :)
You know that Crypto's are hiting the mainstreem when your girlfriend shares a joke about it on your facebook and her father goes and puts a very confident like on it...😂 now, sirously, i started on cryptoworld 6 months ago, so for me, as a noob, it seems the the world as gone crypto. That feeling disapears when I still see people beting on the lotery hoping to get rich and change their lives. The shiat will hit the fan, eventualy. Especially when all the good projects are starting to get real and solve problems. For some people, maybe the blockchain will go unnoticed. I mean, they will be using ot without even knowin' it. Keep the good work, you are a really nice alien! 🤣
They will never accept the crypto-revolution. The MSM lobbies politicians to further increase federal control, which will never happen under a transparent blockchain based system.
In Australia, the radio stations are telling everyone to buy bitcoin. I sold most of my crypto a few days before they did this and the price almost tripled in 2 weeks. Bit annoying but lucky I still had a huge hoard of CHIPS that I have been able to split up and get some litecoin and bitcoin to go forward into next year. This is happening. The AI needs bitcoin to control the world, it might have even created it.
@the-alien Do you think that 2018. is the year of altcoins? Personally, I think that, for example, LTC is showing us just a sneek peak of its full potential.
The sonner people get accustomed to cryptocurrencies and blockchains, the sooner the focus will shift from the price of the particular cryptocurrency to the actual benefits we get from them.
There are a lot of useful cryptocurrencies, if BTC stabilizes a bit, I can see other cryptos gaining massive media coverage.
Yeah I think you're right, I think it's only a matter of time until people will start promoting other coins aside from BTC.
Everyone's an expert with an opposing opinion. The trick is to educate yourself:
https://steemit.com/cryptocurrency/@xsid/everyone-s-an-expert-how-do-i-decide-where-to-invest
This Crypto era is very inserting! I see next year being the crypto rush year!! They way I see it, this is an opportunity for the masses to gain their freedom and shave a couple years off their retirement so they can actually go and live life. As we say in Jamaica" BUN Babylon system" ( burn the corruptedf capitalist system that enslaves the people)
I think cryptocurrency is the future of all currencies <3
The life lived by the future generation would be much easier and awful.
I wonder how their lifesyle would be like actually.
Ghandi once said: “First they tell you it’s play money, then they tell you it’s a bubble, and then they ask you where to invest”.
India had the internet back then?
who knew?
Haha it was a joke as specified in the sentence below, don't worry it's just a joke. :)
just wondering.
I've heard of the 'jungle telegraph'...I saw it on Tarzan one saturday mourning.
who knew it was that advanced?
The current boom too won't last forever you know, ther will be a point of retraction and consolidation or corrections and it could happen in early 2018 itself or maybe later, can't bo too sure.. WHo can predict anything with respect ot cryptocurrency in the short term anyway?
PS: You misspelled Gandhi ('Ghandi' in native Hindi means dirty) so you might want to correct that :)
Mainstream in 2018...
great Ghandhi quote lol
block chain to me is the real future that will take the biggest sleet forward
This is my first encounter with cryto currency and I’ve ensued some conversation about with my friend who’s major is finance who introduced the “bubble theory”. She didn’t really explain the whole theory to me in a point of finance but with analogies. To me the concept is related to kingdoms and their rise and fall.
She pointed out that the “bubble” is meant to be popped. Anyone care to comment and explain the concept to me. I would like someone to elaborate.
I think there may be some ICO bubbles yeah.. But each currency have a unique way to handle their economy, some have a limit of coins ever to be issued, others don't, they have different ways to deal with inflation, and a host of other factors.
You can't just say this is a bubble without taking the time to see each case differently, for example the Housing bubble popped in the US it didn't pop in Switzerland.. so it's not the housing market as a whole that was a bubble, some people mis-managed their economy and created a bubble, others did not.
A clear example would be what people call "the internet bubble" in 2000, there were many start ups that raised money and didn't deliver and they failed.. But the internet didn't fail.. In fact if you had stocks of Amazon for example you would've made a killing.
So the closest thing to a bubble one can see in crypto is that some ICOs raise money and they don't deliver so their price of course will tank.
But in the end, no one knows what happens.
Thank you so much for the explanation, this brings a lot more context to the conversation and to my knowledge.
Many people are still not ready for bitcoin, the main reason that pushes people to buy is because it’s making thousands of percent of gains so that even if I invest 100$ I could double it in a couple of months and sell, the real use case of bitcoin will come when we have a decent market cap compared to other financial assets, this would mean a price for a coin of between 100k to 500k and of course scaling issues resolved, still a long way ahead but...finally it is getting the attention it deserves.
Oh yeah. And I agree with you, it's finally starting to get attention. The skepticism from many channels to cover the topic is now fading.
I feel like even breaking the first chain of mainstream adoption will take a very long time, people hear about bitcoin and talk about putting money into it than it drops in price and they freak out. We are stabilizing the coin through diversifying the market but it will still require a very specific mindset to understand what is happening which means they will hire others to manage it for them. Those people will by take part of their winnings, slowing down the process once again.
This is a movement that is ensuring we are not moving into mainstream too fast but rather we are slowly recruiting the those that will the skillsets to bring longterm value while sorting out those that can't. This will continue for a very long time as the very process of creating this technology and understanding it requires the participation of everyone involved. Once we see a negative influence we will start closing entry points and reevaluate why this happened and how to fix it.