Most Bitcoin enthusiasts know that there are several hurdles to over come before this technology becomes a little more main stream and passes the proverbial ‘tipping point.’ In the recent months through the price slumps and general FUD some intelligent people are realizing that this is actually a good year for Bitcoin on a whole. Lets take a step back and recap a handful of the positive things which have happened in 2014 which I dub ‘The year of Bitcoin.’
- Massive amounts of merchant acceptance (Ranging from Mom and pop shops to Forbes 500 companies)
- Government recognition (Several governments approaching the technology in different ways ranging from fear/control to joy/embrace)
- Media coverage (Much more media covering the technology, It is slowly coming out of the Dark web shadows and into the open market)
- Huge hash rate increase (Though as a miner this one hits me right in the feels, it is good for the overall strength of the network)
- New add on features to the block chain tech and some very interesting alt coins which will take us running into 2015
- Hardware / Software upgrades to wallets and overall security of BTC (All the way from fully insured online vaults to secure hardware wallets and more main stream anonymous tech)
- Price fluctuations and steadiness – (Strong hold of around $600 for quite a while which showed skeptical investors extreme volatility can stop, though some enjoy it the swings.)
- Over all individual awareness – for those of us who talk to people all the time you will see a few more “Oh I heard of that.” as opposed to… Bitcoin? Is that anything to do with Zelda?
The over all tone of the Bitcoin community ranges from “Yay cheap bitcoins!” to “I bought when it was $1,200 and now I have to sell my house.” – Obviously as an investment tool you have to take pragmatic approaches to this technology, remember this is the first time we have
ever embarked on such a grand experiment. Though some of the power hitters are very invested and completely sold that once the bigger money steps into this space each bitcoin will be worth a gazillion dollars, let’s not sell someone the moon without advising them responsibly on the unlikely but possible out comes which may happen. Though I say that while I honey badger 90% of my earnings into Crypto currency so please take my warning with a pinch of salt, Bitcoin and crypto currency on a whole to me is comparable to Pocket Aces. (Though beware sailor, in the sea of alt coins it takes a trained pirates eye to spot the ones which aren’t covered in Kraken fecal matter.)
Today someone skeptical I spoke to about Bitcoin 3 months ago called me, excitedly they said “Bro did you see the Paypal announcement?!?!” I said “Yeah….” What I found was the more I stay in this and expect it to succeed the less excited I am when I speak with people, which somehow turns them on more. I am genuinely not going to lose sleep whether they invest or not, we are just presenting them an opportunity to possibly make a return and live a better life in the future by opting out of the hyper inflation fiat banking systems. People do not like to be sold and all of us in the crypto community are guilty of going on massive rants when someone says “what is Bitcoin?” or if anyone says anything negative, we step out of the shadows with our BTC shields and ASIC bastard swords and we slay the FUD fiat dragons. Let us not lose focus of human emotion and remember the purpose of BTC, people move at different paces and some people will be quicker to see what this can do, We call this the “Ahhhaaa!!!” moment.
Whether someone gets it right away or takes a while don’t worry, just speak to the people who want to learn more and let the people who are skeptical be skeptical. They have free will after all and you cannot force someone to do something because you see the truth in it, they have to chose to do things for themselves so let’s not forget that. Even if we mean well!
The snowball effect: descriptive of an entity or situation where something once small and relatively insignificant grows exponentially at a swift pace, engulfing everything in its path. A more dramatic progression than the classic domino effect. We are going to be at the tipping point shortly, when the next spike happens and you are watching the price travel to Jupiter remember that when people told you 2014 was a bad year you can tell them we call this ‘The year of Bitcoin.’