IS CRYPTOCURRENCY BECOMING BORING???

[ZAINmalik75]

Shouldn't we be more interested in knowing how many people per year are becoming interested in knowing or learning about cryptocurrencies, rather than looking at a chart of how many users have verified themselves at centralised platforms for them? I mean, it's not like a person who doesn't start using a centralized platform isn't a part of this world and isn't interested in cryptocurrencies at all. So maybe we should have different metrics to gauge the interest of the people on a global scale.

That being said, the growth of cryptocurrencies and the level of adoption has a visible spike these days. Almost every other person in the world knows about Bitcoin and cryptocurrencies these days, and this wasn't the case a few years back. So, that proves that cryptocurrencies aren't becoming boring or people are still showing a lot of interest towards them, and besides, this is only the beginning.

[Natalim]

You will only feel it boring when you no longer understand what's happening in the market, especially if your portfolio is getting poorer and poorer. But for us who get thrilled and excited on what's the next move for bitcoin and potential altcoins, we end up getting excited every time the market moves unpredictably.

Patience is a virtue, and that should be perfectly applied in crypto. What we see here are just common dump and pump, and until we don't see their ultimate all time high, we should remain patiently hodling them while observing the market well.

[Alpha Marine]

This should not be a surprise. In fact, I feel we're looking at it wrong. When a new and enticing thing comes on board, people rush to it when it becomes popular. The fact that it is still here today and growing gradually means it has passed the test of time.
Let's take the dotcom bubble, for example. The introduction of the Internet and the World Wide Web increased the stocks of many companies exponentially. Was the Internet or the World Wide Web introduced in the 1990s? No, it had existed before that, but it was the low interest rates of 1998 that made a lot of startups grow.
Now, when the bubble finally burst in 2000, was that the end of internet companies? NO. Everybody took hits, some more than others, but when the dust settled, some remained, and many more were found after that.

The point is, from the third quarter of 2020 to 2022 can be described as cryptocurrency's own "dotcom bubble". Interest rate was part of the trigger for the start of the dotcom bubble; with crypto, it was probably the pandemic and lockdown.  After the bubble, the ones which survived forged on at a slower and relatively stable pace of adoption.
The good thing is, the adoption rate is not declining. However slow you can think it is, as long as it's not stagnant, it's progress. Today, people panic that the bitcoin price is between $95k and $96k, but we forget that there was a time, not long ago, we would have celebrated bitcoin hitting $90k; that's progress. A time will come when we would hate to see the bitcoin price hit $200k.

[Emjay24]

Cryptocurrency is doing much fine as it is. In the early times people were trooping in from the point of enthusiasm, most of them didn't fully understand what cryptocurrency was and were only testing out the waters. Now, the world has had a good grasp of crypto and new investors are coming in from the angle of appreciation and desire and those who truly appreciate the nature and utility of cryptocurrency may not be that much yet and the more people get to understand and appreciate it, the more new investors come on board. It's a good progress that we've a hundred million people who understands and appreciates cryptocurrency from 2022 to 2025. I think it's a good symbol of growth.

Let's not forget government restrictions and regulations which also stalled it's adoption. We had Afghanistan and Kuwait ban cryptocurrency completely in the period under review and other countries tightening their regulations. This also influenced its adoption. I believe as government soften on their grip on regulation, just like Bolivia which was on total ban since 2014 is now being friendly and is now aligning with El Salvador which is very much crypto friendly.

[aoluain]

Bitcoin is not becoming boring,

Of course not but the problem is that the OP is referring to "cryptocurrencies"
that includes Bitcoin and all $hitcoins so anyone interested in solely Bitcoin
shouldnt really care about those statistics and whether "adoption" is up or down.

In terms of Bitcoin, its important to separate Bitcoin from the market. Development
for the Bitcoin network continues, adoption is growing. The market continues
to impress and dissapoint - thats definitely not boring.

Adoption will grow, its like the markets, sometimes its up and other times down

[El_Tammy]

Bitcoin is a relatively new technology compared to the traditional financial system that already exists today so it is quite natural that its adoption is slower than it seems, but if we look at it, people's adoption of Bitcoin is quite fast, even faster than many other technologies in their early phases, even though it is not immediately obvious, but Bitcoin has already reached global recognition, and certainly in the coming years there will be more people who adopt Bitcoin either as their payment or just an investment.

I know that as the days roll by, people will still continue to use the technology, accepting it as their first method of payment but what I'm asking is if that trend and first surge will still be there? Getting to some point, I think people will begin to see it as a normal digital currency and no longer the great Bitcoin we all knew it to be. I believe very well that there was a time everyone wanted to be part of the new development which was changing how the world saw things and then fast forward to today, the system is so down when it comes to number of persons as per ratio joining it.

[El_Tammy]

A system that had over 200 million users verified to space within a year can't even gather 100 million of users in the space of two complete years. If this continues just the way it is, then I do not think the future will really want to have much to do with cryptocurrency. And I pray we don't see Cryptocurrency lose it's love and trend at the end.

You must be talking about centralized platforms or coins

Bitcoin is not part of those system. Becoming a Bitcoin user simply requires a self custodial wallet, so there's no way to know the total number of users worldwide, we can only estimate the amount of Bitcoin currently in circulation and that's roughly 19.9 BTC

The performance of other cryptocurrencies shouldn't be used to measure Bitcoin's success or suggest that its adoption is declining. In fact, the rate at which institutions and major corporations are entering the market proves that adoption has increased significantly over time.

Well I didn't directly say it was all about Bitcoin but simply cryptocurrency. I'm aware of the magnificent amount of work Bitcoin is still doing so I was very conscious enough to make it clear on the OG post that my research was based on Cryptocurrency and I even used a chart showing Cryptocurrency identity verified users and not just Bitcoin. We know that Bitcoin as a tendency on it's own as done enough work that any other currency will ever dream of and I can never specifically belittle it.

[El_Tammy]

Obviously no" crypto currency is not becoming boring rather is still becoming more interesting I know you might be asking this due to the current situation but you shouldn't be bored because it's certain, me personally do not enjoy seeing the market in this condition but since it's normal and perhaps there's nothing I can do regarding the situation than to just stay positive which I'm expecting every other Investors to do the same. Surely some people would definitely feel bored during this time and it is normal as everyone can not be the same but let it just be bored so long as there's no strange feeling attached.

Finally someone had hit the issue and it is very correct. At this point in time it's difficult for an investor to not get bored seeing the current situation of the market and well that's just where it gets interesting because as an investor, your abilities are tested with days like this and it's only when you have a strong mindset and will that you'll benefit of it. Personally I believe Bitcoin is definitely going to make on hell of a rise and I also know some other investors are very much aware of this fact even though the current price is down.

[Iranus]

I will always say it, Bitcoin and other cryptocurrencies are not going to do magic.

I want to agree on this and I completely agree with you. Bitcoin and crypto will not be able to create the miracles that many investors are delusional about, it will not significantly change our world. The world and the economy remain the same, still managed and controlled by governments and central banks. The development of the world and the direction it will take will be decided by them.

Bitcoin and crypto are just tools, and like any other financial instrument, their appearance is just an addition, they cannot change the world.