Comparison between Gold and BTC
I have been following Crypto twitter closely during the past few weeks and I must say there is a lot of interesting comments going around on the future of Crypto.
This morning I saw this image which compares the history of the gold price with the past few years of BTC. I am not claiming that the image is accurate, as I have not created it. I must however say, if this is an accurate chart, there is a very good few years coming for BTC.
We all know that blockchain and crypto currencies are very fast moving. If we look at how long it took the Internet to get mass adoption, we are still only in the infant stages of the Blockchain and crypto currency adoption.
Here is an image from an article in Forbes a while ago.
Image Credit - Forbes
According to the article we are only in 1994 now in Blockchain and Crypto Currency adoption terms.
The first public website went live in 1991. The first commercial web browser went live in 1993 and provided access to the 130 websites that existed at the time. By 1994, the count ballooned to 2,738 websites. These websites included corporate homepages, news, personal blogs, pornography, content aggregators, an online encyclopedia and the first online retailers. Early websites were mostly electronic versions of “real world” things like newspapers, and many of these use cases persist today. What’s notable is what was missing in 1994. LinkedIn, Reddit, and Facebook had no 1994 analogue. And while we can draw a straight line between Encyclopedia Britannica and Wikipedia, or between MTV.com and Youtube, the introduction of community sourced content places the latter in a truly new category.
As with the internet in 1994, many use cases for cryptocurrency have already been presented in nascent form, but are “too early” (1- Web Timeline). The online retailers of 1994 mostly failed because they launched before there was sufficient user adoption and infrastructure to support their success. In 1994 there were too few internet users, too little trust in online credit card processing, and too little underlying infrastructure for online merchants to thrive. Another example of the problem of being “too early”: you can’t launch a high speed video streaming service if your potential customers are on dial-up modems.
You can read the full article here
Lets see what the future holds for us in the next few years. Go Bitcoin!
Happy Steeming!
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Yes, it indeed looks promising. Anyway, blockchain technology and cryptocurrencies are here to stay... the concept is too god, and they can't be stopped...
Thanks for this positive news and keep them coming... :)
Thanks for your comment @cryptofiloz, I am 100% confident that the technology are here to stay. I also believe that we are not too far from a bullish turn in the markets. Saying that I am always optimistic. ;)