Entering the chasm
The real meme chart
So ghetto nigs and soccer moms are early adopters. OK OP!
yes they are.
The barrier to entry for crypto was very low. Simply type in your info on coinbase and buy using your credit card. No real different than buying garbage off of amazon.
If you think the majority were soccer moms and ghetto nigs then you are uninformed.
I like to see your sample size.
That chart actually makes sense: it doesn't imply crazy moon rides, but a slow, consistent growth instead
>this is a nig
>this is a soccer mom
you realize these charts portray the same thing?
The chasm is caused by the disconnect into the technology having use in the real world which is exactly where crypto is heading.
Banks will not allow crypto to gain foothold without a struggle and will continue to cut it off similar to how they began to block the usage of credit cards.
>but they just dont want people going into debt and being unable to pay it back
false. they guide people into debt at every opportunity . Crypto threatens their income. Why would they not try to destroy a direct competitor with all the resources they can?
>decentralized exchanges are coming soon we wont need banks
good luck trying to access these when ISPs block all access. Remember net neutrality? Thats gone now there is nothing to stop ISP from blocking you from visiting these exchanges, you think they will turn down the chance at doing the government a favor when they demand this?
The technology needs time to advance further to be able to stand on its own, until then we will continue to drop and eventually enter the chasm
Just sold everything, thanks
well you wont regret it
i can guarantee you that they all exited with a loss now or got bitconnected
they arent early adopters they are prey for scammers
Aw, someone just read his first college book!
all this will do is birth new freedom internet companies
(((they))) will not stop us
That doesn't really matter. In order to be an early adopter, you need to be in before regular people are aware of it.
The first user who gets it.
holy shit finally an accurate memeatic chart
>hey i was an early adopter
>oh yeah? you must be rich now
>no i lost it all in BITCONNEEEEEEEEEEEEEEEEEEECT
truly masters of crypto these "early" adopters
Also if you compare to muh internet bubble it's also accurate.
Things went crazy, everything got fucked, then stuff like Google, fb etc quietly rose up to be huge.
That's exactly what I'm saying. They're NOT early adopters. Early adopters are the tech nerds back in 2011-2012-2013 and knowledgeable investors who saw the potential. We're NOT in the "early adopters" stage now.
The thing is the early investors into bitconnect will be loaded aswell. It was only the normies and pajeets who got in late that got fucked.
The top chart applies to all cryptos
The bottom chart only applies per-coin
Early adopters of bitcoin maybe but what about blockchain as a whole?
You could argue 2017 was the first year alt coins really took off and they are company's who actually plan to put the blockchain to use.
I drew one of these and updated it over a few months with news & events leading up to the crash, and sold everything around 19,000 using that curve. I initially thought this year would be the chasm but I think we’ve already crossed it (to start this run).
BTC should be considered for what it is rather than what it hopes to be when making these curves. It is a speculative asset that serves little purpose for most users. It isn’t the global currency people expect it to be.
Remember bitcoin price movements typically follow that curve, pay close attention to the maximum profitability point.
>Early adopters of bitcoin maybe but what about blockchain as a whole?
blockchain is useless
>smart contracts and distributed trustless systems are useless
yes it will as the market is inevitably driven by innovation.
In the mean time it is going to "die"
How is it useless?
It's literally the next technological advancement before quantum computing.
Blockchain+quantum+AI = skynet
the betamax would like to know where he is in that chart
Crypto treatens everything, if banks don’t adopt it, it’s the finical warfare equivalent of bringing a knife to a gun fight if not worse. Countries that don’t utilize the new tech, will be beaten by thous who do, by trying stop adoption they just make there house of cards fall faster, Fintech quicksand
yes they are
>hurr durr make a world computer disregarding the fact that slowest node will be slowing the whole process down
>hurr durr deflationary currency muh jews and gold standard
>hurr durr pedo coins
>hurr durr glorified barcodes
tell me one use of blockchain
Failed to cross the chasm. The book uses betamax as an example of this
Man, that's high school stuff.
Most coins don't need to exist, i,e) many of the tokenized blockchains don't need to be tokenized. But to say blockchain is useless is retarded. Any resourceful person should be able to take the fundamentals of blockchain and see the implications in fintech and supply chain logistics.
I used to be 14 years old too
every token is useless
and the reason that x coin or x token should be valued at x price is?
It's Sunday shouldn't you be getting angry about how poorly your lawn ins growing or something? Or maybe have an hour long debate with your cuck wife about what to eat tonight.
This is what I love about blockchain. Thank you for describing it like this. People keep thinking so small regarding blockchain. It doesn't just need to be a ledger. But at the same time, I feel as though maybe blockchain is a bit flawed. It feels like we are using punch card systems because nobody has figured out computers yet. DAG could be a step in the right direction. I'm brainstorming it but I'd like to learn about both systems from a technical and coding perspective more.
Also as for
>distributed trustless systems
Why did confido have to end up being a scam?
convincing arguments retard
Yeah DAG seems very interesting. What coins are using it?
the chasm has not yet occurred because the market never popped. The hype kept slowing growing on speculation and never met any real world usage. The chasm occurs when something stops the growth and the speculative growth dies. This is the global effort to stop crypto. Expect btc to reach sub 1k as it is completely destroyed by government intervention. Then for a year the technology will continue to improve and shows signs of still being alive. This is when the growth will start back up with early adopters rejoining because they believe crypto can overcome the barriers. The speculation will begin again but not to the same degree because of the past. Eventually the technology will be there for real world usage circumventing government barriers and the steady growth will begin.
I sold on the way up at 14k-15k and 15.5k
I was kicking myself when we hit 16k, 17k, 18k, 19k, 19.5k but it would have been impossible to predict that peak. I dont plan on rebuying in until crypto is forgotten about and officially considered dead.
Do you not buy stocks because they're volatile compared to bonds?
They aren't convincing arguments it's literally what every Norman comes out with.
right and thats why the gap will occur. The banks may be using a knife but crypto has a gun that is currently unusable so the knife will win. Once the gun is developed and usable even if in a suboptimal way it will begin to come back alive and become unstoppable.
I dont buy stocks
what do you invest in user
>I hate gains
you cannot have profit without risk
this attitude sickens me
If the blockchain is mediated by PoS, the tokens should be valuated similarly to real estate being valuated by its rate of devidends. As more masternodes are accumulated, more tokens required to maintain masternodes are taken out of circulating supply causing the tokens to appreciate.
If the blockchain is mediated by PoW, the tokens should be valuated based on computational work required to validate the last transaction/find the last block. If difficulty increases as total supply approaches the total limit, the value of the tokens should naturally appreciate.
The problem isn't the technology, its the size of the speculative bubble.
that's called reality
if there was a market with good returns and no risk all other markets would collapse and all money would be in that market.
I am not talking about that
I am talking about greed
That's retarded - price going up increases the computational work required in PoW, since miners pay costs in fiat, and if the price goes up in fiat, they will miner until the difficulties increases such that they make no profit. Causation is the wrong way round.
Prices go DOWN in PoW because miners have to sell for their fiat bills
>It's Sunday shouldn't you be getting angry about how poorly your lawn ins growing or something?
goddamn why do boomers do this
like holy fuck who fucking cares don't you have a hobby or something
>If the blockchain is mediated by PoW, the tokens should be valuated based on computational work required to validate the last transaction/find the last block. If difficulty increases as total supply approaches the total limit, the value of the tokens should naturally appreciate.
Don't be so sure. This is a digital labor theory of value, a.k.a. deluded Marxism. The value of tokens comes from market demand, i.e. what problems they solve.
Since crypto at its core fucks with the monetary system, you get weird feedback loops and difficult valuation.
Ever heard of anyone having their PayPal or bank account frozen?
I agree there is some fundamental use in bitcoin (tho economically it is literally the worst fucking currency) and monero
Theres no reason these two models cant both be right.
Iota and probably others I'm assuming I don't know about
unles crypto is a meme
This faggot thinks IBM have invested in a meme
well considering that IBM is a dying pajeet company I wouldn't be surprised that they want to throw a bone at their investors
Going by how many normalfags actually own significant amounts of bitcoin compared to fiat, surely we're in the first 1 percent and hence innovators.
>being this deluded when you realize you're missing out on the biggest revolution of your lifetime
check the description for denial phase
You realize net neutrality was only around for like two years, right? It was just a repackaged slush bill that didn't really have any effect on the internet.
I suspect you are under 18. Would you like me to explain how the world works and why money is actually pretty cool?
>in order for the barter system to work, both people need to want what the other is bartering, so having a liquid medium of value is important.
Okay, good place to start.
>the government is printing money at a rate of 2% a year. this means that hoarding money is not smart.
If all you do is tuck your money under your pillow, you will lose money as the cost of goods and services races away from you.
>This incentivizes one of two things: working, or investment
you either need to do things to provide value into the "human system" (aka labor of some sort) or you need to give your value to other people and let them create growth with it (loans, venture capitals, etc)
So here's the thing about investment
>Timmy has no money and Jimmy has 10 bucks
>Jimmy loans 8 bucks to Timmy so he can set up infrastructure and generate value for people who want or need things
>their ability to purchase things is *mostly* based on their economic output
>Timmy uses Jimmy's 8 bucks to make 3 bucks a week and it hasn't really costed him anything to start
>he gives Jimmy back... 8 bucks?
Jimmy has provided Timmy the means to generate profits. If that value can be quantified, who deserves the profit? Does Jimmy not deserve anything even though he allowed Timmy to start?
Here's another thing about profit you might not have considered:
>ron and steve both make rice and pork but Ron makes rice faster and Steve makes pork faster
>Ron decides to only make rice and convince Steve to only make pork, and then trade
>both of them have a net profit of goods
Profit is not evil. Money is a system that rewards efficiency and people doing things they do well and sharing with others so we all have more.
I got in to crypto like 4 weeks ago and have trickled in about 2.4k over this month I really hope this isn’t the end lads
>this is why completetly useless greed driven speculative grypto or stock or whatever derivate is good
okay grandpa thx for clarifying
>in the future, crypto may be quite valuable for it's inherent uses, whether they be ledger based or an otherwise decentralized and trustless system run and secured by a global network of computers
>people buy in when these systems are underappreciated with the *hope* that someday other people will recognize the value (aka they are taking the risk)
>the people who took the risk in allowing early growth are rewarded more heavily
I don't really see how it's different. What you should be learning from this is that not everybody should invest or have the capacity to invest or else other people who make better or smarter decisions will take their money. Profits in a market come from inefficiencies which come from people making poor decisions. Unfortunately FOMO is a real thing.
Yes, greed is unfortunate, but making money in this world where you make money by providing goods and services to other people who want them is not. There is most certainly a difference.
Crypto is useless as currency because having a volatile value doesn't encourage economic activity. Especially if it's volatile in the upward direction. As long as it's value is determined by direct market speculation it will always be garbage.
here is another thing: when someone dies, future generations are free to reap the profits without the first person wanting anything from it. This means over time, independently of people's wants, life will get better for us all. The "I run my old man's factory" thing. While I would like to say that crypto will certainly stagnate and find a "true value" I also say that as long as the human population goes up if the demand stays constant then the price will go up. This is simple economics. It is a function of the capacity of the earth and our rate which we produce people. (By the way, since you probably also believe having a lower population is better too, consider that more people can get more things done, like study sciences and do things to make our lives better (which lead to profits and hopefully someday an era of abundance where nobody ever has to starve)
>crypto is bad because it's deflationary
Yes, you're right. Inflationary is probably better because when it's more profitable to hold onto money nobody will do anything. Hopefully someday we don't have to and we can use an inflationary currency. In the meantime we should probably switch to some crypto that inflates a bit in order to have a functional economy if we expect crypto to ever actually be useful.
that's not how inflation works.
Inflation works because fiat currency is actually backed by the promises of bond holders. You could go to the bank with as little as a hundred dollars and become one of those bond holders right now if you wanted to. Inflation is caused by the interest owing to bond holders for their support. It's not a perfect system...because it relies upon continuous growth to keep afloat but it's nothing like the meme conspiracy theories people spread about it.
This can't be argued with.
Even now crypto is only accepted by enthusiasts or company's who will transfer to fiat value immediately.
Imagine accepting only crypto, you do a nice day's takings then your chosen coin does a conference and all the pajeets crash the price.