Why This Is Taking So Long
People are wondering why it is taking so long for the entire cryptocurrency/blockchain industry to grow. Most of us are aware that we offer superior solutions as compared to the existing system. Basically, the establishment is a mess, favoring only a select few to the detriment of the many.
Actually, this is not uncommon. We see this across all technologies and that is the industry we are in. At its core, what we deal with daily on here is technology.
The answer to what we witness dates back to 1532. This is where we can garner the present state of this industry.
Because the innovator has for enemies all those who have done well under the old conditions, and lukewarm defenders in those who may do well under the new.
This was taken from The Prince written by Niccolo Machiavelli.
Most of the people we encounter are going to fall into one of the two categories. We see the attacks levied by the establishment. This is obviously the group that profits from the status quo. To them, the existing system is ideal. Disruption is not something they want. They are going to protect their territory with venom.
The second group is summed up in the term "lukewarm". These are the ones we introduce to what is taking place and are met with a rather disinterested response. In fact, many of those who are on a platform like this fall into the second category.
We need to understand the road we are all forging. This is innovation; trailblazing if you will. Technology is causing massive disruption in many industries. Blockchain is a technology that will affect many sectors. The business world is not going to be the same.
Technology eventually takes out those who are profiting from the present system. Over time, enough people realize what is happening and jump on board. This means the holdouts end up getting crushed by the technological advancements. We saw this in the world of video, music, communication, and cell phones. Down the road, banking, insurance, credit cards, finance, and exchanges are going to feel the same thing.
The second group is a bit harder. It is not the technology that overcomes their apathy but, rather, passion. The early adopters are the ones who get excited first and it is their enthusiasm that attracts others. Changing human behavior is very difficult. This process can take years to complete. Fortunately, people are becoming more accustomed to change.
Here is one of the best charts I found showing the pace of change.
The telephone took over 60 years to reach 70% adoption. Decades later, the computer hit that mark after about 30 years. Not pictured on this chart is the Smartphone which hit that number in under 7 years.
Today, it is much easier to become either an innovator or an ardent supporter of the innovators. That is what my articles try to convey. Not being a developer myself, I try to pass along what is happening and the excitement that goes along with it. I am not one who is lukewarm to what is taking place.
It is also one of the reasons why I detest all the FUD spread within the people in the industry. Those who are profiting from the existing systems are rattlesnakes poised to strike at every turn. We saw this throughout 2018. They are powerful since they are backed by the twin elements of government and the media. Ultimately, I am certain the technology will win out yet we only lengthen the process with our behavior.
It is time for everyone involved to step up their game. Each and everyone of us can contribute. It all starts with the outlook and attitude one carries. Anyone who feels this is all unfair, a scam, and destined to fail, simply go use the present system. The banks love when you wire money overseas and they collect their 15%. Keep swiping those credit cards which pays the bankers 1%-3% of all sales. Certainly, Facebook and Twitter love your data so they will welcome all with open arms.
We are at the point where speeding up the process is a collective effort. Those who see the possibilities as they are unfolding should quickly move off the "lukewarm" fence. It is time to get excited about what is taking place. Each day new projects are popping up all over the entire crypto-sphere.
If recent technology is any indication, we are going to see a massive explosion in adoption at some point. Things no longer take decades once the technology hits the point where the average person can use it. As crazy as it sounds, the jump from 50M users to 1B will not take that long once the floodgates open.
The lukewarm defenders are going to do well under the new system. They are not the ones, however, who are going to draw more people in. For this to happen, we need to see passion.
This is what is going to attract the masses.
If you found this article informative, please give an upvote and resteem.
Great visualization of market penetration. It clearly shows that the innovation cycle is going to be exponential at some point in time. Mass adoption takes less and less time...
i believe the industry is growing very rapidly its adoption that is not growing as quick as i would like
great article and i will reblog it
have a great day
Technology adoption curve. Always stunning - and really provides a frame of reference
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Yes very true. It is incredible to see the visual of the pace of technology and how adoption speeds up.
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Well spoken. I try to tell family and friends about these things all the time and for them to get on board. I haven’t had one person that didn’t already do it, start. I got two of them really close; one signed up on here but completely ignored me when I told him he must write down his password, it can’t be recovered. My other friend spent the money to buy a dog instead.
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The proverbial you can lead a horse to water deal..
They will be involved in crypto...everyone will be sooner or later...the only question is when.
The ones who enter later will not have the same advantage as the early adopters.
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This is why when a shop allows payment in crypto, I do it - even though I've only had it come up a couple of times, I want to show support for that being an accepted form of payment. I've done it with Six Dollar Shirts and Overstock so far. If I could find a pet supply that took crypto that had Yuan's allergy food and shipped, I'd give them my business as much as possible. I don't shop much because poverty, but if it's an option, I'm using it!
Hey that’s a pretty solid practice from a crypto evangelist right there!
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That is a great practice @Phoenixwren.
My crystal ball might be a bit cloudy but, with over 1000 SP, I do not foresee poverty in your future. You are doing well building up your account over time.
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That's my hope. I see Steem as a long-term investment. :)
A watched pot never boils as they say. We are sitting here with our crypto tea cups watching the water heat up and it is taking a virtual eternity.
You have to think that the innovations in use cases, slow personal evangelization and difficult acceptance of the normie is coming along gradually and hammering at that door. Institutions are pouring oil on us to slow that door coming down so that they can have their stake in the game and benefit with the masses.
You are right though. The transition from early adopter to early majority is going to be exciting and insane at points. The fomo will be real.
It will be those who have secured their stake, learned to recognize risk and opportunity, and are masters with a metaphor who will benefit the most.
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There is still the non-ease of use issue within the world of crypto. Keys are a pain in the ass and few understand them.
We also see exchanges that do not have interfaces the masses are use to.
All of this leads to slow adoption. Those issues will be resolved. That is why we can only go so fast...we are dependent to a degree upon the development.
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I've been discussing this a lot lately, and yes, current technologies have much steeper adoption curves, e.g look at mobiles or computer. in this regard crypto is already a bit a slow mover, but of course it would have impact of global financial system, and the heavy regulation, this might be the reason for crypto to take "so long"
I totally agree, I think this dip is the best thing to happen to steem.
@mistakill. I agree with you. Each time we have a drop in STEEM, the solid hands are buyers. This is not only larger accounts, although I didnt notice the Whales buying. There are a few Orcas who take advantage of it but mostly Dolphins and Minnows. This is a great way to add to one's stake and give oneself more power.
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