Diffusion Of Cryptocurrencies

In other words: why there WILL be another bull-run. Even though I've covered this a couple of months ago, I think this is as good a time as any for a quick reminder.

_{source: Wikimedia Commons}

I'll start with the mandatory disclaimer and tell you that what follows is not to be taken as financial advice. I'd rather see you take it as a matter of historical fact that another bull-run in the crypto-sphere is as inevitable as each day ending with a sunset. ... Okay, maybe that's a bit much, but hear me out and I think you'll have to agree that Bitcoin, and other cryptocurrencies that will serve an actual purpose, have no other way to go than up. A lot.

All I ask to come to the same conclusion, is to take a look at the theory of the diffusion of innovations:

Diffusion of innovations is a theory that seeks to explain how, why, and at what rate new ideas and technology spread.
_{source: Wikipedia}

And take a look at this graph explaining the S-curve that describes the adaption of new technologies and ideas over time:

_{The diffusion of innovations according to Rogers (1962). With successive groups of consumers adopting the new technology (shown in blue), its market share (yellow) will eventually reach the saturation level.
source: Wikimedia Commons}

Since cryptocurrencies are not just a new technology, but also a new way of looking at, and using money, and it's a technology that will eventually be adopted globally, I dare say we're still somewhere in between the innovators and early adopters-phases of the above adoption-graph; we haven't even begun to approach anything like mass-adoption of cryptocurrencies.

This is why I keep saying that we are in a good place, my fellow steemians, that there's really no need to get discouraged by a sideways moving market, or even the occasional steep price-drop. We are here for two reasons mainly, one of them has got something to do with money, and the other with freedom. And then there's something about "speech" too ;-) But we're here because we believe in the fundamental positive change cryptocurrencies can bring in our lives and indeed the world.

Now here are some cautions and caveats. The adoption rates of new technologies have been speeding up historically. The internet is now in it's 30^th year of existence and is still in the early to late adopters stage, but saw mass adoption start off in a little over ten years; according to that metric now should be the time for cryptocurrencies to do the same. The fact that it's not, I personally blame on the massive resistance from the mainstream, especially in the first years, when Bitcoin only reached the news in a negative light and related to criminals and whitewashing. Another thing to keep in mind, is that markets are moved by emotions and no one can predict our future mindsets. So this really is not financial advice, just a record of my confidence in cryptocurrencies' future.

In closing, I'll leave you with a YouTube video I found explaining exactly what the deal is; take a look at the rate of adoption over time of previous technologies and keep in mind that Bitcoin's white-paper just had it's tenth birthday only yesterday:

_{Why there IS going to be another bull run (The S-Curve of Adoption)}

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