How to Expedite Bitcoin's Growth

I don't have the easy answer on what the next week of Bitcoin's performance is going to look like. Nor do I have any forecasted data on Dash, ETC, or any other cryptocurrency. CHances are if you are on steemit you are already believer in the concept of crypto and are in favor of decentralized currencies.

What I can speak to are the two most vital issues to the growth of any cryptocurrency, BTC or other. The first issue is one of infrastructure, both in the traditional technical definition as well as the more consumer friendly concept of infrastructure. There are usability and customer experience dependencies that need to be solved for before the majority of consumers stop looking at blockchain technology as a niche. This is important because security and access are both downstream impacts of having an effective and efficient infrastructure. Crypto is not just competing against other currencies like the dollar and yen, but also against payment solutions like Apple Pay, PayPal, and your standard issue debut and credit cards. If we want the price point of all cryptocurrencies to REALLY take off, then having a larger segment of the population is needed. More demand means a greater need for supply, which will drive up the actual return for crypto. As crypto is still in its infancy and has grown so quickly, this is one of the challenges that still needs to be solved for.

The other issue that still needs a solution is the stigma surrounding all things crypto. This includes BTC, blockchain, and any other core concept to crypto. The general population sees BTC jump to $17k and then flatline ALL the way to $6k. It's a scary proposition for many investors who are risk adverse. The challenge is that investors see the solid, incremental gains of stocks like Apple or precious metals and then compare those gains to the massive fluctuations with crypto. If you're not sold on the concept or bullish on the long-term financial outlook, then you're more likely to invest your money somewhere else. It's that old idiom about a bird in the hand being worth two in the bush all over again.

So, how do we solve these issues that will stall the gains of crypto? I think the easiest approach is to frontload the population of users to spur infrastructure and remove the mystery around all things crypto. Steemit is a great introduction and when people post they actually make cryptocurrency. Other social media platforms are just as valuable. Post your stories to your other social media accounts (and I mean all of them). Tag others in your posts that you think may be willing to try out SteemIt. Give them a walkthrough and make sure to upvote their first few posts. Talk about crypto and help your friends and family get wallets. Give BTC (even very small amounts) for birthdays, bat mitzvahs, x-mas, etc. Buy a miner. Buy one for your friend. The easiest way to increase adoption is to make the process so friendly and easy that people slide right into their first wallet. If it's easy, then people will be willing to try. If it's complicated (or seems complicated with a lot of jargon), then we will scare away the average consumer.

Think about the strategy and how you can design tactics that further the vision of crypto. Shift the paradigm if people are reticent to joining the cause. Help be the the change that furthers crypto.