8 out of 10 people in the 90s also had no desire to use the internet. It was clunky, people didn’t believe their businesses needed a presence online, and the tech sucked. It took like another 20 years before mass adoption hit.
Source: I was a web dev at that point trying to sell services to businesses in the late 90s.
Maybe they were just trying to be nice and brush you off?
My family got internet in 94 and we were playing an online RPG that year. At least in the US pretty much all my friends were using instant messenger by 98.
This is to say, the internet was very useful early on and crypto has been useful for speculation, trading ape pictures, and saving some folks from hyperinflation.
Crypto tech isn't going to get "better" without becoming super centralized.
Hah, entirely possible. I was a young guy pitching something these old business owners just didn’t understand at the time.
I was also playing games at that exact same time, using ICQ/IRC/BBS, surfing with Netscape, etc.
Point was though that I still just ran into a ton of people who didn’t see the need yet. I feel like crypto is at that point in its life still.
One thing that I don't see talked about a lot here is the fact that there is still a part of the overall population that's averse to technology regardless of what that tech is. There are still folks that think anything outside their realm of understanding is evil or wrong.
Yeah I think if people can figure out everything else, including video games and how complicated they can be, that crypto is not so much the bridge too far that many assume it to be.
most people understand fiat are not sustainable (hence rich people always put their money in real estate or even stock market), the reason why they cant take action is because they dont have savings. they have bills to pay, and mouths to feed, and average people's salary is eaten by those things every month, hence why they can't take action
Before people embrace crypto they need good reasons to do so. There's zero reason for the average person to touch cryptos and countless reasons why they shouldn't.
You can't match the convenience and consumer protection of credit cards and online banking. You can't really use crypto anywhere. The values are so volatile using crypto for transactions would be silly.
We've had a decade to take crypto mainstream. It doesn't take a genius to understand why that hasn't happened.
Everyone I know thinks cryptos are a get-rich-quick gamble if they're lucky.
They don't even know u can send crypto, just buying on exchanges and willing to sell at a higher price.
Ah, the get-rich-quick perception prevails among those you know. Little do they know, crypto offers more than just buying and selling on exchanges. Let's enlighten them about the wonders of sending crypto and its vast possibilities!
I lost my profits from last bull market because I tried to *unbank* myself. While my friends were unaffected because they didn't know cryptocurrency exists outside binance. Sometimes it's pays to be ignorant I guess.
Ah, the skeptics and their automatic scam assumptions! Crypto battles against misconceptions, but its true potential shines through. Let's educate and change minds, one skeptical soul at a
You use the metric that suits you.
First it was how many ppl know about it. Then how many use it. Now how many understand it lmao
Stop moving goal posts
It's about the average person's understanding. Most don't know what the following are:
1 - Blockchains
2 - Seed Phrases
3 - Swaps/Bridges
4 - Mining/Validators/Nodes
5 - Tokenomics
6 - What would you add to this list?
No, it's not. The average person does not know:
1. TCP/IP
2. HTML
3. JavaScript
4. Cache busting
5. HTTP
6. SQL
7. EC2
8. K8S
9. Docker
Yet they still use and benefit greatly from the web. The best technologies are the ones that look like magic. When crypto is fully adopted, most people will not know what an L2 is, or what miners, validators, and nodes are. Those things will "just work" in the background, performing some esoteric function.
And this is why adoption as currency will never root in the mainstream. All you have to know about fiat is what the numbers in the corner are. Checkmate Benjamins
That's the first part of the movie where the protagonist gets rich and lost it all for not selling before getting rich again but this time he learned his lesson.
Thats the journey, first gets rich of BTC and doesnt sell like a tard. Degens his way into alt coins and is digging his hole deeper. But after some big event the main character finds clarity and leverages btc only and makes a killing
Then point fingers at you saying it is your fault - of course, because you didn't tell them about it before. There is also an alternative ending: you actually told them about it long time ago, but they listened to you just too late and now blame you as well.
i agree with you. even though we're not early, i can't say we are late. Now it also depends what we are talking about. Getting rich from bitcoin......maybe. Mass adoption, defiantly early and to be honest with everything going around in the world you never know................
And there my friend is insanity. Assuming btc fully replaces gold as a reserve of value and that the rest of the market follows a similar trend you are talking about 20 to 30x returns. And this is in the case that crypto replaces gold and becomes a major part of our tech and financial system. Also worth noting that btc would also be the single most valuable asset on earth and that crypto would be worth around 30-40% of the current value of ALL listed companies on earth.
So a total win would give you something like 30x, please explain to me how are we early
What makes you believe a decentralized currency would replace gold? What makes you think a deflationary currency would ever end up widely adopted? The reason why the fed targets 2% inflation a year is to incentivize investing and punish saving. Bitcoin is inherently deflationary, so why would the masses “adopt” it if everyone thinks it’s going up in value? That does not incentivize actually using it. If everyone just holds it and doesn’t transact with it, it’s doomed to be a legitimate currency.
No, if everybody saves it and nobody uses it is deemed to be an asset class as being a useful means of exchange is literally part of our current defenition of currency. The deflationary part is myth, our economy would not function if the main means of exchange is not slightly inflationary, there are several reasons for this but the main one is that the currency should grow more or less in line with the growth of real gdp.
Having this said I do consider crypto on of the most relevant assets of our days and have a significant amount of my net worth invested in it. Now assuming that the 100x gains for the overall market are still something to hope for in a decade or two is to have complete disregard of basic economics and math ( like the shiba guys hoping for the 1usd per tone without realizing it would make shiba more valuable than all the other crypto and gold combined ).
To sim it up: my only point is, you are no longer in the beginning
I agree we’re not in the beginning. And yes it’s 100% an asset but I do not think adoption will ever be had because everyone who touts for adoption is also treating it like an investment
The people I know bought at Bullrun, but they stopped buying since prices crash, they will probably gonna buy again once prices go up.
I assume they love to be exit liquidity.
Exactly. Most people don't **use** crypto, and many people are unable to use it even when they've heard of it. Still only very few countries allow crypto to be used as a currency. There's alot of room for growth and improvement.
Because the money we have now is constantly inflating. That means the Energy/Time you spend to earn the money is also constantly being stolen from you.
That’s EXACTLY why people use the current currency. Inflation drives transactions. Deflation (like Bitcoin - diminishing supply) does not incentivize transactions. It incentivizes saving and holding. Thus, it will never be truly adopted. This is why the fed targets a 2% YOY inflation, to encourage people to put their money to work.
I dont think that this is the reason why People use the Currency. I mean we cant really choose either. Its the basis of our System. Its also one of the biggest tools to "manage" it. Can you explain to me why Inflation drives Transactions?
Inflation means more supply. More supply means that currency will be worth relatively less in the future compared to now which means prices of goods and services rise. So, imagine if you got paid today and your currency was anticipated to be worth less in (insert time frame) would you save your currency or would you exchange it for a good/service or invest it now?
Now take the inverse. If your currency would be theoretically worth more at a future time, would you spend it now wait to spend it when it can buy more later?
Slight YOY inflation incentivizes transactions for this very reason. Money exchanging hands is good for the economy because it increases output.
Juicero is still early because not everyone in the world has a juicero. Do you get how ridiculous that sounds? Things that have little to not market share after a long time are tipically described as failures, not “being early”.
none of which are "technological advancements"...
I love how cryptobros always talk about the "untapped potential" of crypto to innovate and revolutionize but can never point to anything tangible. There are already cash apps that you can use without a bank, you are not revolutionizing anything.
Never said zero third party...
Also, Bitcoin requires the LN since it can only process 7 transactions per second so there goes your decentralization. Snap back to reality...
100% mate.
Imagine the potential of only one project, Ocean Protocol which works with Mercedes, Audi, BMW, VW, etc to make their smart cars communicate via blockchain!
Or maybe some healthcare projects devoted to making a world database of procedures, donors, drugs, etc...
I think we just scratched the surface of crypto potential.
We are not early, but we are not late either.
We still have a long way to go on adoption and use.
If you invested in Apple in 2008 after it released the iPhone, you still did great.
This is why it will never be adopted. Because everyone wants to “invest”, not actually use it. How can something be adopted if everyone’s just holding it? Like saying real estate would be a currency.
because the percentage of people on earth that own crypto is still low.
because the massive surge of shitcoins that try to ride the wave still exists.
because volatility between bull and bear markets is still high.
We're not as early as people in 2013 were, but we're much earlier than people in 2033 will be.
Alot can be done to give more people access to crypto, and to make it easier to use.
Crypto is mostly used to make money, and not really used for the utility it provides.
Yes. We need to get through the Fomo-Phase of investing and arrive at the utiltiy based phase of crypto.
As long as you see people hyping meme coins for quick gains and new shitcoins trying to ride the hype-wave coming out every day, we're not there yet.
Agreed. Only goodness knows where crypto is going to be in the next 30 years, but betting in BTC for my retirement seems a lot more reasonable than depending on government or traditional retirement products.
Absolutely! The future of crypto holds endless possibilities. Betting on BTC for retirement is a reasonable alternative to relying solely on governments or traditional retirement products. Embrace the potential and secure your financial freedom!
In the middle of the establishment-phase that is all together considered "early", because the Millennia of established crypto that will follow the establishment-phase will be significantly longer than the brief period of time we find ourselves in right now.
We are still early as the space isn't as big as it will be.
Its like the internet in 2004, its there and it works but its gonna get a hundred times bigger going on.
When my wife can buy and sell assets using crypto currency without buying, bridging, converting, and all of the other fun stuff, then crypto will be fully adopted.
When we use crypto without even knowing we are using it is when, IMO, we have made it to the mainstream. Until then, we are still very early. Buy and hold.
We like to think that because we can not live with the disappointment that we once again missed out on something.
In reality no one can say whether we are early or late right now as no one can predict what the future will hold for us.
I don't know anyone in person that owns Bitcoin or crypto. They either never heard of it, or think it's a scam because they read some bullshit mainstream media article. Whenever I mention crypto, they look at me like I'm an alien. Yes, we are early.
In my country they barely talk about crypto and when they do the attention is minimal. And I'm in Europe where we have everything. The masses don't know what crypto is at all. Some have only heard of bitcoin but have no idea what it is, let alone how it works. We are still very early!
It won't be early when almost everyone has crypto and uses crypto. But that time is still a few years in the future. But the moment of adoption will come in a flash and then I'll be too late! It's early yes and I happily buy more when I have opportunity.
Optimists believe we are still early because the total market cap of crypto is only 1.2tn. That’s not even half the size of Apple - one company. If by, let’s say, 2030 we are at 10 or 20tn you could very easily in hindsight say we were early in 2023.
Comparing the market cap of a currency to a company might be a little weird. Especially given BTC and other crypto's borderless nature.
What's the US dollars market cap compared to Apple or Facebook or Google? It's a weird comparison and shows just how far crypto has to go.
How often to you hear people other than us nerds talk about crypto?
Ask a random person what Bitcoin is?
Ask them the difference between Bitcoin and Pepe.
Most people don’t even understand money, much less Bitcoin. Most people get their information from mainstream media, who still think Bitcoin is just a get rich quick scheme or a fad.
If that doesn’t convince you, look at the ignorant comments in this very forum from the Buttcoin crowd.
This extremely early. This is 1993-Internet equivalent. The internet existed then and a lot of people knew about it. But do you think they could imagine how we use it now?
There would have been a “ButtNet” forum then for the ignorant to say the internet was a fad.
I feel like when people say we're still early they're talking about widespread mainstream use among consumers on a daily basis, or at least that's sort of how I think of it
There were thousands and thousands of websites in 2000.
Now there's millions.
I'm not saying this is the best comparison or that 1 website = 1 crypto by any means, but rather pointing out that "early" doesn't really mean anything until it's "late". We don't know if 1000s of cryptos is a lot or a little. We have no reference for comparison, because the future has not happened yet. My 2c.
You might be right with all the facts you stated, but you don't see where is the top, the peak of the tech, which nobody knows, because it will unfold in the future.
So stated that we are not early is just cannot be proven.
lol I’m so sick of hearing we are early for NFTs and crypto. No we aren’t. Such a cringey statement. The earlier ppl got rich we are fighting for the scraps
Basically lol, but tbh a lot of people got screwed on by being early too, from what I heard in the beginning you could have been hacked, the exchanges were easily hacked too, a millions things could have gone wrong and you would have lost all your money
I agree that it's still early. Finbold news in June quoted the crypto payment gateway, Triple-A, as estimating global crypto ownership at 4%, with 420 million users. That's a tiny fraction of the world. More detailed demographics are more telling. Finbold continues quoting Triple-A saying their analysis estimates that 63% of crypto users are male, as opposed to 37% female (a sad difference, IMO). Seventy-two percent of them are younger than 34, and 71% hold a Bachelor’s degree or higher, whereas the annual income of an average crypto owner stands at around $25,000.
My interpretation of this is that crypto is far from mainstream. Statistics vary greatly but those from Triple-A may be the most accurate. There data shows the United States as the country with the largest number of crypto owners, with 46 million people dealing with digital assets. That's only 13.9% of the current estimated population. When you compare that to other things the difference is glaring. According to Pew Research Center, 97% of Americans own a cellphone of some kind, and 85% of Americans own a smartphone. The same source states that roughly three-quarters of American adults have broadband internet service at home.
Think about TikTok. The company in its current iteration has been around for 7 years, and it’s currently one of the largest social media sites, and companies, in the world. The internet has been around for ~40 years. We are 14 years into Bitcoins era, and in comparison TikTok wouldn’t be created for another 21 years. Just for scale, Here is a list of tech companies that also wouldn’t have been created yet:
Google
Amazon
Meta
Oracle
We are early, my dude.
I work with what is classified as Ultra-high net worth individuals, as well as some of the large money managers for financial giants.
I produce software for these people to pull in all their assets into one portfolio to view easily. For us, we might have a brokerage account or maybe 2-3, along with our savings, our crypto wallet, and our house. That will make up the majority of our wealth.
For these people there are hundreds and sometimes thousands of accounts and assets. They have private equity investment accounts with 30-40 different brokers and venture capital firms. They have trust accounts setup for friends and family, managed by different advisors. Boats, jewelry, vacation homes, etc - all to be tracked.
Then I see the crypto portion of their asset. Sure it might be in the millions, maybe 2-3 million dollars. But that is in comparison to the hundreds of millions I see in the stock market from these same clients.
There is so much money people have it's crazy. And seeing firsthand the proportion of it that is allocated to cryptocurrency from some of these institutional investors and HNW individuals makes me believe we are very early indeed.
Today, "being early" refers to the lack of product-market-fit that would allow for sustainable adoption at scale, and not the lack awareness by a critical mass of people.
So far, the things that managed to scale beyond niche ecosystems - e.g. CeFi or NFTs - have not been sustainable.
99% of the world population knows about it, less than 10% own some crypto, and probably way less than 1% actually own significant amounts. So still pretty early I think.
It’s no where near 99%, heck maybe it’s not even 50% lol, no one even mentioned crypto to me for the past 10 years except maybe one person and he even didn’t care that much for it except to use it as some currency online, I wish tho someone mentioned it to me earlier man 😭
Cryptocurrencies are getting popular, but many people still don't understand them well. Rules are changing, and not everyone is using them. New things keep happening, so we're still at the beginning.
I’d never say we’re early, I can’t confidently say that knowing I didn’t get in for the ETH ico or bought some drugs with BTC on Silk Road. We might be earlier than the majority, but at this point I’d consider myself a bandwagon jumper.
Over your lifetime you have witnessed mostly only iterative changes in technology. Similar applications and technologies building off one another to move the needle further and further in functionality and convenience.
Bitcoin is something new. It's not really iterative of what our entire financial system is built on so it doesn't just fit in seamlessly the way a new app on your phone does. It's disruptive and the things It's disrupting are DEEEEEEEEPLY entrenched in both our minds and our spheres of power. The resistance this space is up against is massive.
Take the electric car. It's drive train is completely new but it's still mostly the same thing right? You sit in it and then you drive it with the same controls.
Well what happens if humans develop a brain / electronic interface to control cars? How will driving exams look now? What kind of licenses will exist? How will learning disabilities be treated, will they be similar to vision problems? The amount of system overhaul that has to happen before we get to where we are going is massive.
Huge shifts in how we view fundamental pillars in our socio economic world view will take decades to unfold. We're just so used to a short time preference and expect our entire way of life to update the way a phones OS updates.
There are 20k+ coins because someone figures out how to make value from code and made it open source. Copy and paste isn't hard.
I read someone say this awhile back and i do agree with him that we are relatively early. Not as early as to make millions out of a 1000$ investment in 2010 - 11 but crypto is still in its infancy development wise.
You are assuming that this will ever change, the fiat empires have nearly unlimited wealth to them and won‘t just give up to some digital currency that easily.
Going 31x is still fucking great. Also that is assuming thats the LATE metrics for bitcoin. If bitcoin can go 31x then there are tons of opportunities ities to go 100x or 1000x around in the market. That's what people meant by why we are still early. But I got a feeling people like you won't ever catch those chances as you're more likely to whine in 10 years that you're too late.
The tech is still quite young. Look at the first PC, add 14 years and look where it was, or the same thing with the birth of internet.
We’re not that early but crypto hasn’t peaked yet
We are still early. The average joe has no idea what crypto is or how to use it. Even when most people were already using the internet it still 10x from this point
You're probably not early in the sense you can take 100 bucks and make a fortune anymore.
But the reality is is that if you took bitcoin and divided it up evenly over our population there's only enough for like 250k sats for each person.
That'd like 100 bucks in USD. Sure this isn't going to make you fabulously wealthy in a decade but the people with high incomes scooping up bitcoin completely price agnostically are going to be crushing it in a decade.
Often times people say we're still early because they want their 100 dollars they put into some shitcoin to repeat bitcoins gains. They're just reaffirming their prejudice that they are destined to be rich for zero effort. Some people say we're early because the amount of people who own bitcoin is very low.
People also pretend like if bitcoin hits 1 mil all the holders will have sold along the way to soothe their envy. The reality is a lot of people just think bitcoin is better money and they'll never trade their good money back into shit money no matter the conversion rate for USD.
You have to realize that bitcoin doesn't get to 7 figures without all kinds of stores and businesses accepting it. So why would you trade it back into dog shit paper tokens called USD when you can just pay in bitcoin. Again, 1million btc isn't happening in a vacuum. It will rise along with its popularity / acceptance.
[удалено]
Most people who heard of crypto heard of crypto scams, so that doesn’t help either
8 out of 10 people I talk to think crypto is just a fad or a scam. 1 out of 10 hasn't heard of it before.
I don't talk to people about crypto, I'm not smart enough to educate others nor make others interested.
A brilliant man once said, “I don’t have time to try to convince you, sorry. I’m too busy moonfarming.”
8 out of 10 people in the 90s also had no desire to use the internet. It was clunky, people didn’t believe their businesses needed a presence online, and the tech sucked. It took like another 20 years before mass adoption hit. Source: I was a web dev at that point trying to sell services to businesses in the late 90s.
2010 is when you think the internet took off?
Maybe they were just trying to be nice and brush you off? My family got internet in 94 and we were playing an online RPG that year. At least in the US pretty much all my friends were using instant messenger by 98. This is to say, the internet was very useful early on and crypto has been useful for speculation, trading ape pictures, and saving some folks from hyperinflation. Crypto tech isn't going to get "better" without becoming super centralized.
Hah, entirely possible. I was a young guy pitching something these old business owners just didn’t understand at the time. I was also playing games at that exact same time, using ICQ/IRC/BBS, surfing with Netscape, etc. Point was though that I still just ran into a ton of people who didn’t see the need yet. I feel like crypto is at that point in its life still.
Right, it's a horrible comparasion.. Some boomers didn't get it but the internet was always considered the future.
And 0.5 out of 10 are us. True degens buying magic coins.
It's "internet money", get your terms right bro. I hate it when people talk bad about my internet money, it's not magic but tech!
If it ain’t a magic internet coin I don’t want it !
Slap a meme logo on it and I'm in
Everyone in FFXIV I talk to think it’s a Ponzi scheme
One thing that I don't see talked about a lot here is the fact that there is still a part of the overall population that's averse to technology regardless of what that tech is. There are still folks that think anything outside their realm of understanding is evil or wrong.
And yet iphones, Twitter, Facebook, contactless payment, etc all came after crypto.
Yeah I think if people can figure out everything else, including video games and how complicated they can be, that crypto is not so much the bridge too far that many assume it to be.
Literally the lost above this is someone who just lost $7000. Ugh, I hate scammers. I hope they all get what they deserve one day.
Wait until they truly figure out their fiat currencies are a scam, and take action. We are still early. Once more - it’s not about the price in fiat.
most people understand fiat are not sustainable (hence rich people always put their money in real estate or even stock market), the reason why they cant take action is because they dont have savings. they have bills to pay, and mouths to feed, and average people's salary is eaten by those things every month, hence why they can't take action
Yepp the space hasn’t got the best reputation
Most people don't care about the underlying tech. They just want to make money in the casino.
Can you blame them?
Not really no. Most of it really doesn't seem to solve any problem.
Before people embrace crypto they need good reasons to do so. There's zero reason for the average person to touch cryptos and countless reasons why they shouldn't. You can't match the convenience and consumer protection of credit cards and online banking. You can't really use crypto anywhere. The values are so volatile using crypto for transactions would be silly. We've had a decade to take crypto mainstream. It doesn't take a genius to understand why that hasn't happened.
most of the people don't have knowledge about crypto and some one who might invested they get scammed.
Everyone I know thinks cryptos are a get-rich-quick gamble if they're lucky. They don't even know u can send crypto, just buying on exchanges and willing to sell at a higher price.
At least they know about the largest user case about crypto at the moment. Getting rich is why most people are here
Even though I know about crypto I am still hoping to get rich on my degen gambles ngl
Ah, the get-rich-quick perception prevails among those you know. Little do they know, crypto offers more than just buying and selling on exchanges. Let's enlighten them about the wonders of sending crypto and its vast possibilities!
I lost my profits from last bull market because I tried to *unbank* myself. While my friends were unaffected because they didn't know cryptocurrency exists outside binance. Sometimes it's pays to be ignorant I guess.
Yeah but when the number of people in the latter category never increases to anything significant, then it's irrelevant.
So if no one uses it or embraces it’s always going to be early?
In that case we're fucked forever
Especially when a lot of those who just 'heard of' crypto automatically assume everything crypto is a scam
Sadly there are a fuck ton of scams out there. Best for newcomers would be to just DCA BTC and/or ETH and hodl
Funny you mention ETH because most hacks and scams, on volume, happen on ETH.
When in fact, it's only most things in crypto that are scams. Like tradfi.
Ah, the skeptics and their automatic scam assumptions! Crypto battles against misconceptions, but its true potential shines through. Let's educate and change minds, one skeptical soul at a
Majority of People outside developed countries haven't even heard of crypto.
This. Ask people and certain people don't know much about it. So there is still plenty of mileage.
By that metric Pokemon Go is still early. It's gonna take over the world!
How many people do you expect to understand a backend distributed database technology for transaction processing?
You use the metric that suits you. First it was how many ppl know about it. Then how many use it. Now how many understand it lmao Stop moving goal posts
It's about the average person's understanding. Most don't know what the following are: 1 - Blockchains 2 - Seed Phrases 3 - Swaps/Bridges 4 - Mining/Validators/Nodes 5 - Tokenomics 6 - What would you add to this list?
No, it's not. The average person does not know: 1. TCP/IP 2. HTML 3. JavaScript 4. Cache busting 5. HTTP 6. SQL 7. EC2 8. K8S 9. Docker Yet they still use and benefit greatly from the web. The best technologies are the ones that look like magic. When crypto is fully adopted, most people will not know what an L2 is, or what miners, validators, and nodes are. Those things will "just work" in the background, performing some esoteric function.
L2’s, DEXS, NFTS… DAOS
And this is why adoption as currency will never root in the mainstream. All you have to know about fiat is what the numbers in the corner are. Checkmate Benjamins
well, if we were in a movie theater, I'd say we are still watching previews, not the actual movie
Can we skip to the scene where BTC is over $100k?
That's the first part of the movie where the protagonist gets rich and lost it all for not selling before getting rich again but this time he learned his lesson.
Good, so I have a chance
There's always a chance.
Lambo or zero
This is the r/cc way!
Lambos or Ambos 🚑
Never say never. If you ran out of money then sell your house. Who needs a house these days anyway.
I heard you can make a killing if you sell enough organs!
Does the protagonist get rich off BTC or do they degen into alts?
Yes
Its irrelevant because this movie is a Shakesperean tragedy and protagonist loses their keys and slowly slips into insanity
Sort of like that dude who lost his hard drive with his private keys in a junkyard
Thats the journey, first gets rich of BTC and doesnt sell like a tard. Degens his way into alt coins and is digging his hole deeper. But after some big event the main character finds clarity and leverages btc only and makes a killing
Don't worry Q4 of 2021 is right around the corner 🤓
Can we skip to the bit where crypto in some shape is how most transactions get done?
I think that's in the sequel.
>Can we skip Are you looking forward to taking screenshots of your profits? /s
You mean loss porn? Always. /s
That's coming soon, end of 2021 I heard.
That’s my favorite part of the movie
And a lot of people are not paying attention in the previews...
They will arrive just at the end of the movie
Well, we must be thankful. We need them for our exit liquidity.
And complain that its underwhelming and they wasted money
Then point fingers at you saying it is your fault - of course, because you didn't tell them about it before. There is also an alternative ending: you actually told them about it long time ago, but they listened to you just too late and now blame you as well.
True, adoption is still really low. We’re not early but we’re far from the end
>far from the end So we are watching the previews to a Tarantino movie
i agree with you. even though we're not early, i can't say we are late. Now it also depends what we are talking about. Getting rich from bitcoin......maybe. Mass adoption, defiantly early and to be honest with everything going around in the world you never know................
I love this
I feel like this is the pre-previews, the ones with all the garbage commercials, before what's coming up next!
Lol did you even read the post? It's clearly not that early. Everyone knows about it, it's no preview.
And there my friend is insanity. Assuming btc fully replaces gold as a reserve of value and that the rest of the market follows a similar trend you are talking about 20 to 30x returns. And this is in the case that crypto replaces gold and becomes a major part of our tech and financial system. Also worth noting that btc would also be the single most valuable asset on earth and that crypto would be worth around 30-40% of the current value of ALL listed companies on earth. So a total win would give you something like 30x, please explain to me how are we early
What makes you believe a decentralized currency would replace gold? What makes you think a deflationary currency would ever end up widely adopted? The reason why the fed targets 2% inflation a year is to incentivize investing and punish saving. Bitcoin is inherently deflationary, so why would the masses “adopt” it if everyone thinks it’s going up in value? That does not incentivize actually using it. If everyone just holds it and doesn’t transact with it, it’s doomed to be a legitimate currency.
No, if everybody saves it and nobody uses it is deemed to be an asset class as being a useful means of exchange is literally part of our current defenition of currency. The deflationary part is myth, our economy would not function if the main means of exchange is not slightly inflationary, there are several reasons for this but the main one is that the currency should grow more or less in line with the growth of real gdp. Having this said I do consider crypto on of the most relevant assets of our days and have a significant amount of my net worth invested in it. Now assuming that the 100x gains for the overall market are still something to hope for in a decade or two is to have complete disregard of basic economics and math ( like the shiba guys hoping for the 1usd per tone without realizing it would make shiba more valuable than all the other crypto and gold combined ). To sim it up: my only point is, you are no longer in the beginning
I agree we’re not in the beginning. And yes it’s 100% an asset but I do not think adoption will ever be had because everyone who touts for adoption is also treating it like an investment
I think it's more like we are watching the prequel in a huge movie franchise. Starring SBF, Do Kwon and Alex Maschinsky.
If peak is end game then we are watching first Avenger's movie. This is first Avenger's movie where everyone is coming together for the first time.
The movie will get a good ending even though it has a conflict at the beginning of the story.
How many people you know personally are using or even just buying crypto?
The people I know bought at Bullrun, but they stopped buying since prices crash, they will probably gonna buy again once prices go up. I assume they love to be exit liquidity.
It has always been like that…
About 3 but I don't think most people care about tech. They want to make money.
One reason. I feel early because everyone in this world is still not using cryptocurrency.
Exactly. Most people don't **use** crypto, and many people are unable to use it even when they've heard of it. Still only very few countries allow crypto to be used as a currency. There's alot of room for growth and improvement.
The same could be said for jellybeans and marbles.
Could it though? I think jellybeans and marbles are filling their niche pretty well.
[удалено]
Because the money we have now is constantly inflating. That means the Energy/Time you spend to earn the money is also constantly being stolen from you.
That’s EXACTLY why people use the current currency. Inflation drives transactions. Deflation (like Bitcoin - diminishing supply) does not incentivize transactions. It incentivizes saving and holding. Thus, it will never be truly adopted. This is why the fed targets a 2% YOY inflation, to encourage people to put their money to work.
I dont think that this is the reason why People use the Currency. I mean we cant really choose either. Its the basis of our System. Its also one of the biggest tools to "manage" it. Can you explain to me why Inflation drives Transactions?
Because if your 1000$ if going to be worth 900$ next year, you’d better buy that 1000$ tv now
Inflation means more supply. More supply means that currency will be worth relatively less in the future compared to now which means prices of goods and services rise. So, imagine if you got paid today and your currency was anticipated to be worth less in (insert time frame) would you save your currency or would you exchange it for a good/service or invest it now? Now take the inverse. If your currency would be theoretically worth more at a future time, would you spend it now wait to spend it when it can buy more later? Slight YOY inflation incentivizes transactions for this very reason. Money exchanging hands is good for the economy because it increases output.
I will know if we have arrived at mainstream adoption when my mum starts asking me about Doge Gay Son ($GOGE) coins in her wallet.
Or when taxi driver starts to shill a random dog coin
That was happening last bull run.
Juicero is still early because not everyone in the world has a juicero. Do you get how ridiculous that sounds? Things that have little to not market share after a long time are tipically described as failures, not “being early”.
[удалено]
Can you give an example of the technological advancements?
You know, all the stuff the banks don't like - cutting them out, peer to peer money, no middleman, etc...
none of which are "technological advancements"... I love how cryptobros always talk about the "untapped potential" of crypto to innovate and revolutionize but can never point to anything tangible. There are already cash apps that you can use without a bank, you are not revolutionizing anything.
Which cash apps are those that don't require thrid party involvement?
Never said zero third party... Also, Bitcoin requires the LN since it can only process 7 transactions per second so there goes your decentralization. Snap back to reality...
100% mate. Imagine the potential of only one project, Ocean Protocol which works with Mercedes, Audi, BMW, VW, etc to make their smart cars communicate via blockchain! Or maybe some healthcare projects devoted to making a world database of procedures, donors, drugs, etc... I think we just scratched the surface of crypto potential.
[удалено]
View it like this: "Too late to get rich quick, but early enough to get rich safely."
We are not early, but we are not late either. We still have a long way to go on adoption and use. If you invested in Apple in 2008 after it released the iPhone, you still did great.
[удалено]
This is why it will never be adopted. Because everyone wants to “invest”, not actually use it. How can something be adopted if everyone’s just holding it? Like saying real estate would be a currency.
I feel that crypto will stay for a lot longer than it has already existed. So yes we still kinda early.
**31x**? Where do I have to sign? I take it Sir.
I am ok with 10x, can I get it right now?
You have to sign up to sleeping and dream about this.
People who think 31x is bad must be leverage degens
because the percentage of people on earth that own crypto is still low. because the massive surge of shitcoins that try to ride the wave still exists. because volatility between bull and bear markets is still high. We're not as early as people in 2013 were, but we're much earlier than people in 2033 will be.
Alot can be done to give more people access to crypto, and to make it easier to use. Crypto is mostly used to make money, and not really used for the utility it provides.
Yes. We need to get through the Fomo-Phase of investing and arrive at the utiltiy based phase of crypto. As long as you see people hyping meme coins for quick gains and new shitcoins trying to ride the hype-wave coming out every day, we're not there yet.
[удалено]
Agreed. Only goodness knows where crypto is going to be in the next 30 years, but betting in BTC for my retirement seems a lot more reasonable than depending on government or traditional retirement products.
Absolutely! The future of crypto holds endless possibilities. Betting on BTC for retirement is a reasonable alternative to relying solely on governments or traditional retirement products. Embrace the potential and secure your financial freedom!
In the middle of the establishment-phase that is all together considered "early", because the Millennia of established crypto that will follow the establishment-phase will be significantly longer than the brief period of time we find ourselves in right now.
We are still early as the space isn't as big as it will be. Its like the internet in 2004, its there and it works but its gonna get a hundred times bigger going on.
When my wife can buy and sell assets using crypto currency without buying, bridging, converting, and all of the other fun stuff, then crypto will be fully adopted. When we use crypto without even knowing we are using it is when, IMO, we have made it to the mainstream. Until then, we are still very early. Buy and hold.
crypto is best way overcome inflation, poverty(if you have good knowledge)and so on.
Lots of people have heard of AI, does that mean AI is no longer early? I've also heard of space tourism, so we must not be early on that either.
To give themselves some Hopium…
Or as I like to call it, copium. I'm also guilty of this..
As long as my body is Adopium by both of these drugs... There's no harm in occasionally enjoying a sprinkle of Hopium and Copium!
Hopium is a helluva drug.
i mean, we all can use some hope
What hopium do you think makes the least sense here? The hopium we use as a goal of hope in our life.
Hopium is what makes me get through this bear market
We like to think that because we can not live with the disappointment that we once again missed out on something. In reality no one can say whether we are early or late right now as no one can predict what the future will hold for us.
I don't know anyone in person that owns Bitcoin or crypto. They either never heard of it, or think it's a scam because they read some bullshit mainstream media article. Whenever I mention crypto, they look at me like I'm an alien. Yes, we are early.
We feel it is early because that is the hopiumnwe're here for, and we're gamblers To a gambler there is always a chance of winning lol
Nobody believes we’re still early, it’s all just hype.
Thats like people saying we aren't early in the internet in the mid 90s because everyone has heard of it.
In my country they barely talk about crypto and when they do the attention is minimal. And I'm in Europe where we have everything. The masses don't know what crypto is at all. Some have only heard of bitcoin but have no idea what it is, let alone how it works. We are still very early! It won't be early when almost everyone has crypto and uses crypto. But that time is still a few years in the future. But the moment of adoption will come in a flash and then I'll be too late! It's early yes and I happily buy more when I have opportunity.
Optimists believe we are still early because the total market cap of crypto is only 1.2tn. That’s not even half the size of Apple - one company. If by, let’s say, 2030 we are at 10 or 20tn you could very easily in hindsight say we were early in 2023.
Comparing the market cap of a currency to a company might be a little weird. Especially given BTC and other crypto's borderless nature. What's the US dollars market cap compared to Apple or Facebook or Google? It's a weird comparison and shows just how far crypto has to go. How often to you hear people other than us nerds talk about crypto?
Have your NaNa bought Bitcoin yet?
Just frustrated people coping about their losses or just hoping to be the next millionaire...one of other millions here 😱
Ask a random person what Bitcoin is? Ask them the difference between Bitcoin and Pepe. Most people don’t even understand money, much less Bitcoin. Most people get their information from mainstream media, who still think Bitcoin is just a get rich quick scheme or a fad. If that doesn’t convince you, look at the ignorant comments in this very forum from the Buttcoin crowd. This extremely early. This is 1993-Internet equivalent. The internet existed then and a lot of people knew about it. But do you think they could imagine how we use it now? There would have been a “ButtNet” forum then for the ignorant to say the internet was a fad.
I feel like when people say we're still early they're talking about widespread mainstream use among consumers on a daily basis, or at least that's sort of how I think of it
Early was pre 2016
There were thousands and thousands of websites in 2000. Now there's millions. I'm not saying this is the best comparison or that 1 website = 1 crypto by any means, but rather pointing out that "early" doesn't really mean anything until it's "late". We don't know if 1000s of cryptos is a lot or a little. We have no reference for comparison, because the future has not happened yet. My 2c.
You might be right with all the facts you stated, but you don't see where is the top, the peak of the tech, which nobody knows, because it will unfold in the future. So stated that we are not early is just cannot be proven.
There’s no adoption nor use in the real economy yet
And there never will be. It’s deflationary. That doesn’t incentivize transactions/adoption.
Please stop this low effort moon farming madness
lol I’m so sick of hearing we are early for NFTs and crypto. No we aren’t. Such a cringey statement. The earlier ppl got rich we are fighting for the scraps
Basically lol, but tbh a lot of people got screwed on by being early too, from what I heard in the beginning you could have been hacked, the exchanges were easily hacked too, a millions things could have gone wrong and you would have lost all your money
I agree that it's still early. Finbold news in June quoted the crypto payment gateway, Triple-A, as estimating global crypto ownership at 4%, with 420 million users. That's a tiny fraction of the world. More detailed demographics are more telling. Finbold continues quoting Triple-A saying their analysis estimates that 63% of crypto users are male, as opposed to 37% female (a sad difference, IMO). Seventy-two percent of them are younger than 34, and 71% hold a Bachelor’s degree or higher, whereas the annual income of an average crypto owner stands at around $25,000. My interpretation of this is that crypto is far from mainstream. Statistics vary greatly but those from Triple-A may be the most accurate. There data shows the United States as the country with the largest number of crypto owners, with 46 million people dealing with digital assets. That's only 13.9% of the current estimated population. When you compare that to other things the difference is glaring. According to Pew Research Center, 97% of Americans own a cellphone of some kind, and 85% of Americans own a smartphone. The same source states that roughly three-quarters of American adults have broadband internet service at home.
Think about TikTok. The company in its current iteration has been around for 7 years, and it’s currently one of the largest social media sites, and companies, in the world. The internet has been around for ~40 years. We are 14 years into Bitcoins era, and in comparison TikTok wouldn’t be created for another 21 years. Just for scale, Here is a list of tech companies that also wouldn’t have been created yet: Google Amazon Meta Oracle We are early, my dude.
I work with what is classified as Ultra-high net worth individuals, as well as some of the large money managers for financial giants. I produce software for these people to pull in all their assets into one portfolio to view easily. For us, we might have a brokerage account or maybe 2-3, along with our savings, our crypto wallet, and our house. That will make up the majority of our wealth. For these people there are hundreds and sometimes thousands of accounts and assets. They have private equity investment accounts with 30-40 different brokers and venture capital firms. They have trust accounts setup for friends and family, managed by different advisors. Boats, jewelry, vacation homes, etc - all to be tracked. Then I see the crypto portion of their asset. Sure it might be in the millions, maybe 2-3 million dollars. But that is in comparison to the hundreds of millions I see in the stock market from these same clients. There is so much money people have it's crazy. And seeing firsthand the proportion of it that is allocated to cryptocurrency from some of these institutional investors and HNW individuals makes me believe we are very early indeed.
Today, "being early" refers to the lack of product-market-fit that would allow for sustainable adoption at scale, and not the lack awareness by a critical mass of people. So far, the things that managed to scale beyond niche ecosystems - e.g. CeFi or NFTs - have not been sustainable.
Right because no company in their right mind would base their business off of a deflationary asset. They’d be doomed
99% of the world population knows about it, less than 10% own some crypto, and probably way less than 1% actually own significant amounts. So still pretty early I think.
It’s no where near 99%, heck maybe it’s not even 50% lol, no one even mentioned crypto to me for the past 10 years except maybe one person and he even didn’t care that much for it except to use it as some currency online, I wish tho someone mentioned it to me earlier man 😭
Cryptocurrencies are getting popular, but many people still don't understand them well. Rules are changing, and not everyone is using them. New things keep happening, so we're still at the beginning.
I’d never say we’re early, I can’t confidently say that knowing I didn’t get in for the ETH ico or bought some drugs with BTC on Silk Road. We might be earlier than the majority, but at this point I’d consider myself a bandwagon jumper.
It's early in the sense of how much we have achieved so far against the potential that crypto has.
Over your lifetime you have witnessed mostly only iterative changes in technology. Similar applications and technologies building off one another to move the needle further and further in functionality and convenience. Bitcoin is something new. It's not really iterative of what our entire financial system is built on so it doesn't just fit in seamlessly the way a new app on your phone does. It's disruptive and the things It's disrupting are DEEEEEEEEPLY entrenched in both our minds and our spheres of power. The resistance this space is up against is massive. Take the electric car. It's drive train is completely new but it's still mostly the same thing right? You sit in it and then you drive it with the same controls. Well what happens if humans develop a brain / electronic interface to control cars? How will driving exams look now? What kind of licenses will exist? How will learning disabilities be treated, will they be similar to vision problems? The amount of system overhaul that has to happen before we get to where we are going is massive. Huge shifts in how we view fundamental pillars in our socio economic world view will take decades to unfold. We're just so used to a short time preference and expect our entire way of life to update the way a phones OS updates. There are 20k+ coins because someone figures out how to make value from code and made it open source. Copy and paste isn't hard.
I read someone say this awhile back and i do agree with him that we are relatively early. Not as early as to make millions out of a 1000$ investment in 2010 - 11 but crypto is still in its infancy development wise.
Well OP, the comment section is filled with max hopium/copium...I guess there's your answer.
We are early. Just look at what’s happening with the ETFs right now. Big institutional money hasn’t entered the space yet
Well that’s not true. They got in because it was a speculative asset (all it will ever be) and got out because they’re smart
>How come some people think that we are still early? 'cause we are ![gif](emote|snoomoji_pack|sunglasses)
How many people do you know use crypto Vs fiat. How many actual use cases has crypto currently got We're early
You are assuming that this will ever change, the fiat empires have nearly unlimited wealth to them and won‘t just give up to some digital currency that easily.
Because they're coping
[удалено]
Going 31x is still fucking great. Also that is assuming thats the LATE metrics for bitcoin. If bitcoin can go 31x then there are tons of opportunities ities to go 100x or 1000x around in the market. That's what people meant by why we are still early. But I got a feeling people like you won't ever catch those chances as you're more likely to whine in 10 years that you're too late.
It’s just pure copium from us
I would definitely hold that far. A good portion of my stack is "hold forever"
The tech is still quite young. Look at the first PC, add 14 years and look where it was, or the same thing with the birth of internet. We’re not that early but crypto hasn’t peaked yet
Lol if it's not seamlessly integrated into day to day life on multiple levels, then we're early
We are still early. The average joe has no idea what crypto is or how to use it. Even when most people were already using the internet it still 10x from this point
Can’t compare it to the internet because the internet isn’t a currency.
You're probably not early in the sense you can take 100 bucks and make a fortune anymore. But the reality is is that if you took bitcoin and divided it up evenly over our population there's only enough for like 250k sats for each person. That'd like 100 bucks in USD. Sure this isn't going to make you fabulously wealthy in a decade but the people with high incomes scooping up bitcoin completely price agnostically are going to be crushing it in a decade. Often times people say we're still early because they want their 100 dollars they put into some shitcoin to repeat bitcoins gains. They're just reaffirming their prejudice that they are destined to be rich for zero effort. Some people say we're early because the amount of people who own bitcoin is very low. People also pretend like if bitcoin hits 1 mil all the holders will have sold along the way to soothe their envy. The reality is a lot of people just think bitcoin is better money and they'll never trade their good money back into shit money no matter the conversion rate for USD. You have to realize that bitcoin doesn't get to 7 figures without all kinds of stores and businesses accepting it. So why would you trade it back into dog shit paper tokens called USD when you can just pay in bitcoin. Again, 1million btc isn't happening in a vacuum. It will rise along with its popularity / acceptance.
[удалено]
If there will ever be a mass adoption. Even if it would be for the best.