Spring is here and baseball season is just getting started. While I don't watch or follow much baseball, it is an excellent metaphor for understanding complicated topics (because most people understand how the game works).
However, the average person out there doesn't understand the cryptocurrency space.
Right now the cryptocurrency space is still very much forming and is mainly in pre-game. There are significant ups and downs to the market right now, but that's because this is only the beginning. If you think about the space in baseball terms, a lot of people will say we're still drafting the team or in the speculation phase. I think we're a little farther ahead than that, but I think that at best it's still the top of the first inning.
If you look at a technology adoption curve graphic, you'll see that the early adopters happen just after the innovators.
Right now in the technology curve, I think that crypto is on the line just between the innovators and the early adopters. The moment when the pitcher throws that first pitch of the game. Innovation is still happening in the space; teams are forming strategies, as people are starting to get on board and trying to understand the best approach.
I know a lot of people have heard about Bitcoin, but most have probably not heard of the Blockchain. Or even understand how they go together. As a non-programmer, I'm still trying to wrap my head around it. When the fundamentals of cryptocurrency and blockchain technology are commonly known is when we can consider the early adopter phase over, and we move into the second inning.
For most of the people getting involved today, they are investing. They are cheering for their team to win without knowing how they stack up against the other teams.
In 1996 more people were investing in the Internet than actually using it. As technology advanced and people got involved, we saw a massive uptick in usage not just investing. Today, most people are users, and very few are actual investors. But that took 22 years....
Most people don't own a single stock option, much fewer own cryptocurrencies. And if they did have them, why? What's the point of buying ANY of these tokens outside of speculation?
There is tons of stuff on the horizon, but that could be years away.
The stock market is a device for transferring money from the impatient to the patient.
– Warren Buffet
If that's the stock market, the internet was a device for transferring information from the uneducated to the educated. And cryptocurrency is shifting power from the weak to the strong.
Do you know of anyone who uses blockchain technology on a daily basis (outside of speculative investment purposes)? We're just starting to see VR pick up steam and that's still early as well. It will always come down to the technology, not the money or dollar amount.
If you can't handle the ups and downs of the market today well, come back in two years you'll still be the early majority. I'll be over here letting people know why I support this and why my team is gonna win the game.