Some thoughts on spreading bitcoin
In recent weeks, the Bitcoin price has almost reached its all-time high from December 2013. This fact alone is already encouraging after the fall in prices in the years 2014 and 2015.
But it is even more encouraging if you have a look at the daily trading volumes of Bitcoin. In 2016, the daily Bitcoin trading volume has more than fivefold increased to more than USD 500 million compared to the two previous years.
And the number of Bitcoin transactions per month increased from one million in December 2012 to ten million in December 2016.
If we now look at Everett M. Rogers theory of diffusion of innovations it appears that Bitcoin is changing its state, currently. From my point of view Bitcoin leaves the “innovators” phase and slowly enters the “early adopters” phase.
At the same time, we can observe a strong increase of the Bitcoin eco-system like merchants and online businesses that accept Bitcoin as a payment currency, Bitcoin-derived financial products and Bitcoin exchanges.
It looks like that Bitcoin is on its way to sustainability.
People Programs and Rewards Manager @ Strategy& Middle East | Talent, Rewards, EVP and Well-being
7 年Zeid Masoud
Head of Commercial @ Anghami & OSN +| Novelist | Podcaster | Founder of Knuckle Headz London (Limited Edition Boxing & Padel Gear) | Proud Arsenal Fan
7 年Ian Dolan
A virtual currency like Bitcoin, without any guarantee is still a high risk value. The user base still exists of mostly speculative individuals. As we have seen in the past their bubble could burst instantly. Statistical evidence does not automatically means the currency has moved up to the next level!
CTO, Data & A.I. Sage
8 年I invested too soon in Bitcoin & got bitten badly. I still think it's too volatile personally. Another major BTC exchange crash will send it tumbling. The concept of blockchain technology is sound for as long as the global ledger continues to be decentralised however transaction costs (deposits/withdrawals) are still too high with cloud based wallet providers. Depends if you see it as a viable currency alternative (commodity) or purely for investment speculation (asset).
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8 年A few months ago Gartner published their Emerging Technologies Hype Cycle (diagram above) showing that blockchain tech is 5 to 10 years away from reaching critical mass. Do you think this is a fair timeline?