....because dial-up 28.8 kbps modems were too slow and crypto is too difficult to learn how to use.
That is the point of this blog post, but it was inspired by an article published on CoinDesk by Michael J Casey who said exactly this:
Also, why do people who made their living from the constant improvement of the internet assume that crypto technology is doomed to a static existence? Dismissing bitcoin because of its limited scalability and adoption in 2018 is like attacking the Internet in 1995 because 28 bps modems were too slow to enable meaningful connectivity – as if no engineers see the problem or are working on it. Sheesh.)
Now most of you weren't around when the internet first began... Or, if you were, you were too young to use it.
Users of the internet back in 1995 were about 10 years old, or older, which meant you had to be born in 1985 or earlier. That was only the early adopters though. Most people didn't start using the internet until year 2000.
The internet couldn't really do video back then... There was no Youtube or eBay!
- Most computers ran Windows 95 or Windows 3.1
If someone told you, one day you'd be able to watch Netflix or other movies by streaming them over the internet... no one would have believed you in 1995 - it was just too slow!
If someone told you that WiFi would would be found in McDonalds or Starbucks, where you could logon the internet for free... No one would have thought that would ever happen either. There was no such thing as WIFI in 1995!
ENTER BITCOIN 2008, STILL NOT FULLY UNDERSTOOD IN 2018
What problems are hampering cryptocurrency adoption?
Education
Utility
Popularity
So let's address those 3 problems:
Education
- If you have kids, ask them whether or not Bitcoin and cryptocurrency is taught in public school.
Back in 1995, schools were just starting to explain the internet. Computer class was about Wordprocessing and desktop publishing. As time went on, computer classes got more advanced.
Today, schools will assign homework to kids over the internet, and you can sign on to the school's website.
If cryptocurrency is going to flourish, schools are going to have to do a better job at teaching kids early.
Utility
- Banks and Government are always slow to adopt things like the internet. Private business has to embrace it first.
For instance, in 1995 you could not pay your property taxes over the internet, nor your speeding tickets. Bank websites were very rudimentary at best.
Private business is the ones that made the internet have utility. Having a website to showcase your products was neat and showed how on the leading edge they were in 1995.
In 1995, people still used the yellow pages (a printed phone book) to find businesses in their area. Maybe only 1 out of 20 businesses actually advertised a website or an email address.
...businesses are going to have to take the plunge first, and start accepting cryptocurrency in greater numbers before the public wants to learn about it.
Popularity.
- This comes from mainstream media, celebrities, your friends, family, and neighbors. People are going to need to talk about cryptocurrency more often in the PROPER WAY.
People talk about crypto, but poorly. Movies are starting to come out, and TV shows are showing things like Bitcoin mentioned.
Right now it is most often used in taboo form. For instance, they'll refer to hackers or drug dealers using Bitcoin.
In society these negative aspects of cryptocurrency is what is propagated because that's the easiest way for society to accept it. They purposely "play up" to what society expects.
When the automobile was first invented, it was popular to scoff and laugh at anyone that owned a car, or wanted to buy one. Horse and carriage was around for so long... if you owned a car.. you were ridiculous.
Your horse could eat grass. Your automobile needed to find gasoline. (When your car ran out of gas, or broke down, you had to fetch a horse to tow your car back home)
(edit)
- There is a new project called whaleshares.io that is purposely geared towards rewarding, sharing, and making good things go viral. This is a good initial step towards solving the problem of popularity. As a result, I've shared this post over there too.
What the future will bring us:
The internet is everywhere. It needs FASTER financial transactions, that are trustless.
Traditional credit cards aren't working as well as they should. Especially since they have so much fraud, and chargeback abuses. Getting a credit card merchant account is difficult for many new small businesses.
The world needs to transact heavily online. Until something better comes along, cryptocurrency adoption will continue to rise as it fulfills that need.
- Those people who are putting heavy investment, development, and time into cryptocurrency will see it come to full fruit in the coming years. Someone recently said "during cryptocurrency bear markets, I just keep my head down [working]".
Right now, we're just sowing our gardens. The true harvest is coming. Be patient, and get ready.
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