Gartner Report: Cryptocurrencies are Still Over-Hyped!

[Hazir]

Over-hyped cryptocurrencies such as bitcoin are still in a period of "inflated expectations", leading tech advisory firm Gartner has found.

As part of its 2015 'Hype Cycle' report on emerging technologies, it included cryptocurrencies among the sectors marked by "over-enthusiasm" and "unrealistic projections".

This is part of an article I found today and I think it is pretty relevant as it describe our expectations well, and we expect too much.

Now I see that Bitcoin in general might be too overhyped. Do you agree?

Source: http://www.coindesk.com/gartner-report-cryptocurrencies-are-still-over-hyped/

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[Lauda]

Wow, I want a job where I track the imaginary progress of things no one can predict!

I definitely disagree. Iphones (i.e. Apple) is over-hyped, but Bitcoin, no. I would think that something over-hyped would also be something that people actually know about. In my area I have not met more than 3 persons that have even heard about Bitcoin at all (that is in two years time).

This is a report about Bitcoin by Gartner, who is advising Western Union.  

[Mickeyb]

Over-hyped cryptocurrencies such as bitcoin are still in a period of "inflated expectations", leading tech advisory firm Gartner has found.

As part of its 2015 'Hype Cycle' report on emerging technologies, it included cryptocurrencies among the sectors marked by "over-enthusiasm" and "unrealistic projections".

This is part of an article I found today and I think it is pretty relevant as it describe our expectations well, and we expect too much.

Now I see that Bitcoin in general might be too overhyped. Do you agree?

Source: http://www.coindesk.com/gartner-report-cryptocurrencies-are-still-over-hyped/

I have read through a report and I consider it a whole bunch of BS! How can something that can change a financial world inside-out, and something that can change the way we do business inside-out be proclaimed as overhyped.

This is just a bunch of FUD in my opinion. Press releases that are ordered to undermine Bitcoin tech and to spread misinformation about what Bitcoin really is and what Bitcoin can really do and how the people can benefit from it.

[ashour]

Wow, I want a job where I track the imaginary progress of things no one can predict!

I definitely disagree. Iphones (i.e. Apple) is over-hyped, but Bitcoin, no. I would think that something over-hyped would also be something that people actually know about. In my area I have not met more than 3 persons that have even heard about Bitcoin at all (that is in two years time).

This is a report about Bitcoin by Gartner, who is advising Western Union.  

I agree with you, bitcoin is actually under hyped in my opinion. Bitcoin and crypto currencies are used by a small community. Cryptocurrencies will grow like the iPhone did, the hype will come in the future.

[gentlemand]

Hype levels are irrelevant at this stage in the game. What it needs are compelling reasons to use it. Once those are in place let the hype begin.

[David Cameroon]

I disagree. I think bitcoin is both underhyped and undervalued. It will take a long time for it to be appreciated though.

[XCASH]

Wow, I want a job where I track the imaginary progress of things no one can predict!

I definitely disagree. Iphones (i.e. Apple) is over-hyped, but Bitcoin, no. I would think that something over-hyped would also be something that people actually know about. In my area I have not met more than 3 persons that have even heard about Bitcoin at all (that is in two years time).

This is a report about Bitcoin by Gartner, who is advising Western Union.  

I agree with you, bitcoin is actually under hyped in my opinion. Bitcoin and crypto currencies are used by a small community. Cryptocurrencies will grow like the iPhone did, the hype will come in the future.

I think it's Gartner that's over-hyped, not Bitcoin. It has an undeserved reputation as a source of well researched and informed advice. I have read some Gartner reports that were written by people who didn't really understand what they were writing about. They gave the impression they were written by experts in the field, but anyone reasonably well informed could spot glaring gaps in the authors knowledge.

I would only be impressed by Gartner if it had predicted this long drawn out Bitcoin bear market at the peak of the last rally.

[sabreok]

Bitcoin is totally under-hyped. It's changed my perspective on a lot of things regarding the concept of centralized power. Most of us here are calculated and conservative in our speculation and trust-- which is the opposite of "over-hyped". Considering the financial problems it solves/alleviates, and that the tech can be used in so many other applications, Bitcoin at its current state is publicly unrealized.

Wanna know what is over-hyped? Fiat money.

[Hazir]

I disagree. I think bitcoin is both underhyped and undervalued. It will take a long time for it to be appreciated though.

That is exactly the reason this article is right. We, bitcoin users think that bitcoin is underhyped and undervalued. While in reality bitcoin is not worthy that much at all.
Dream of $10.000 worth bitcoin is alive and kicking in our community, do you honestly think 1 BTC will reach that much?

[gentlemand]

Dream of $10.000 worth bitcoin is alive and kicking in our community, do you honestly think 1 BTC will reach that much?

Not if the community stays the same size. It's overhyped by the people who are plugged into it. The rest of the world doesn't give a shit.

[Za1n]

Dream of $10.000 worth bitcoin is alive and kicking in our community, do you honestly think 1 BTC will reach that much?

Not if the community stays the same size. It's overhyped by the people who are plugged into it. The rest of the world doesn't give a shit.

If you look closely at the graph you can see Cryptocurrency Exchange is just about at the bottom of the Trough of Disillusionment, and I think that aspect is spot on. I think the price is finally started to get on par to it's value after the unrealistic pump to $1,200 in 2013. A slow but steady climb of maybe $100 per year would be a steady and sustainable increase in value.

As far as the placement of Cyrptocurrencies themselves on the chart, I think they have it a little high yet. I agree it is still coming off the Peak of Inflated Expectations heading toward the trough, but maybe further along than they portray.

[trashman43]

Dream of $10.000 worth bitcoin is alive and kicking in our community, do you honestly think 1 BTC will reach that much?

Not if the community stays the same size. It's overhyped by the people who are plugged into it. The rest of the world doesn't give a shit.

basically, this.

[unamis76]

If Bitcoin was over hyped, media all over the world would open their TV/radio shows, magazines and newspapers with the next big thing on Bitcoin, some kind of new client release, or anything similar, and there would be price statistics and historic charts right next to the weather reports

No, there isn't any over hype. There is simply a relatively small group of people developing and raising awareness of cryptocurrencies.

[gentlemand]

If Bitcoin was over hyped, media all over the world would open their TV/radio shows, magazines and newspapers with the next big thing on Bitcoin, some kind of new client release, or anything similar, and there would be price statistics and historic charts right next to the weather reports

It hasn't been short of that type of attention. It's popped up in an awful lot of media outlets. Very little of said coverage qualifies as hype though.

[ashour]

Dream of $10.000 worth bitcoin is alive and kicking in our community, do you honestly think 1 BTC will reach that much?

Not if the community stays the same size. It's overhyped by the people who are plugged into it. The rest of the world doesn't give a shit.

It's similar to the internet, almost none cared about it back then only the nerds were browsing the web. Now the internet is mainstream and is being used by kids up to elderly people every day. The same will happen to Bitcoin it's only a matter of time until it happens.

[gentlemand]

As far as the placement of Cyrptocurrencies themselves on the chart, I think they have it a little high yet. I agree it is still coming off the Peak of Inflated Expectations heading toward the trough, but maybe further along than they portray.

All of the moves so far have happened off the back of a few hundred thousand enthusiasts. I'm not so sure a chart like that applies when it's a fraction of one per cent who are experiencing the trough.