The Life Cycle of Bitcoin

[KingsDen]

During my high school days, I was taught that products have a life circle. For every product, must follow below life cycle.

1. Introduction Stage: This is the first phase when the product is introduced in the market. This stage is characterized by much spending in promotion of the product, to make it acceptable in the market.
2. Growth Stage: At this stage, people have understood the concept of the product and start to buy it. Sales increases very well at this stage.
3. Maturity Stage: At this stage the product sales begin to decline, because it has started having many competitors  or experiencing low demand.
4. Decline Stage: Everything that has a beginning has an end. At the stage sales deteriorate drastically. And the product will phase off the market unless the product is redesigned.

Now, trying to relate the above to BTC.
Is BTC at the introduction stage? I asked because there are still campaigns promoting BTC and BTC is not yet generally accepted by all.

Is BTC in growth stage? I asked because in past few years we have experienced improved sales of BTC.

Is BTC in maturity stage? I asked because after the recent dip in BTC it seems it's sales has reduced and there are altcoins too that are competing with BTC.

But I am very sure BTC is not in Decline Stage.

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[Charles-Tim]

4. Decline Stage: Everything that has a beginning has an end. At the stage sales deteriorate drastically. And the product will phase off the market unless the product is redesigned. .

The days that will not come, or the days that will take centuries to come. Bitcoin is deflationary, people will like to hold and you will see all-time-high. Just see it as the digital gold.

[fiulpro]

In mathematics or even in science, we see such maps of a predictable event. When we are talking about Bitcoins I do think we will see many possibilities of seeing algorithms which are impossible to predict or even put on the maps.

- we also have to recognize the power the whales have over the whole system and then go forward with that
- we have to see the price chart also , which could show us the growth and it's not consistent, it's not a hyperbola or even a straight line.

I do think for Bitcoins we are in the "understanding" phase. Where people are trying to connect the dots and at the same time learning about it. Where government is keen on taxing Bitcoins but on the same hand banning it. It can't be defined be any of these parameters.

[BrewMaster]

4. Decline Stage: Everything that has a beginning has an end. At the stage sales deteriorate drastically. And the product will phase off the market unless the product is redesigned.

this is not a guaranteed stage and almost 99% of things you see in the world that are useful never have this stage. for example when paper money was created it took all the first 3 steps and then entered the "thriving stage" as it was mass adopted and used everywhere. the same was repeated when the same paper money became digital when digital banking started.

now it is all being repeated with introduction of bitcoin and after mass adoption we will enter "thriving stage" where bitcoin stays stable and continues working for decades to come.

[Fesatmas]

Is BTC at the introduction stage? I asked because there are still campaigns promoting BTC and BTC is not yet generally accepted by all.

the ongoing recognition stage does not mean the initial stage is continuous, but the expansion stage. because the introduction is sufficient at the beginning and the introduction of the second, third and so on into the expansion wave.

Is BTC in growth stage? I asked because in past few years we have experienced improved sales of BTC.

That's right, because from day to day BTC will continue to grow as greater adoption shows massive and very significant growth.

Is BTC in maturity stage? I asked because after the recent dip in BTC it seems it's sales has reduced and there are altcoins too that are competing with BTC.

at this point, you should be able to distinguish which one is called a fall, and which one is called a correction. because in principle a falling trade indicates that it may not necessarily go up, while a correction is a pattern or cycle that will occasionally increase again.

[avikz]

These product life cycle stages are based on a physical product and was formulated ages back when probably the concept of internet didn't exist. So I don't think Bitcoin will follow similar pattern of the lifecycle of a physical product.

The concept of bitcoin is very new and not a lot of people are aware of it. So I would say bitcoin is at introduction stage as of now. Growth is yet to be seen. What we are seeing is just a tip of the iceberg.

[aoluain]

Is BTC in growth stage?

Yes, we are in Bitcoins growth stage and will be until all Bitcoin is mined. Even though
Bitcoin is designed to be deflationary it is still growing until all is mined at a slower
rate every 4 years.

We could also argue that running beside the growth stage is also the maturity stage,
this comes with adoption when more and more people realise the power of BTC

[Ebede]

Imo, I don't think that bitcoin is a product. So it will not follow the product life cycle. Bitcoin is an asset. It will not decline. More and more people will continue to have and keep bitcoin for themselves by so the value will continue to increase as time goes. Just like gold, as the life cycle will not work for gold, so also it will not work for bitcoin

[TangentC]

During my high school days, I was taught that products have a life circle. For every product, must follow below life cycle.

1. Introduction Stage: This is the first phase when the product is introduced in the market. This stage is characterized by much spending in promotion of the product, to make it acceptable in the market.
2. Growth Stage: At this stage, people have understood the concept of the product and start to buy it. Sales increases very well at this stage.
3. Maturity Stage: At this stage the product sales begin to decline, because it has started having many competitors  or experiencing low demand.
4. Decline Stage: Everything that has a beginning has an end. At the stage sales deteriorate drastically. And the product will phase off the market unless the product is redesigned.

Now, trying to relate the above to BTC.
Is BTC at the introduction stage? I asked because there are still campaigns promoting BTC and BTC is not yet generally accepted by all.

Is BTC in growth stage? I asked because in past few years we have experienced improved sales of BTC.

Is BTC in maturity stage? I asked because after the recent dip in BTC it seems it's sales has reduced and there are altcoins too that are competing with BTC.

But I am very sure BTC is not in Decline Stage.

In your study of Product life cycles, I hope they taught you that the average product life cycle is ~10 years.
BTC born in 2010, so 11 years old, past the age of collapse for most products.
New Phase is beginning of Government Banning of said bitcoin product,
if Bitcoiners don't find a way to stop the increasing bans due to their global energy waste,
then we will be in the decline cycle with a very fast ride on the way down.

If I were you, Check out Cardano and it is a New 3rd Generation Blockchain product
It solved the energy efficient issue
It solved the onchain transactions issue
It has capabilities Bitcoin can't even dream of.
It product cycle is just beginning.  


FYI:
The thing Bitcoin needs to stay out of the decline stage is a design change to PoS,
but bitcoiners are refusing to evolve, so a permanent decline to $0 is possible.
Ethereum is evolving by switching to PoS design, so their product cycle will be continuing .

[franky1]

bitcoin is not a product. its a category/industry/utility

people can get bored of pokemon cards. but bitcoin is not some silly childs trendy thing based on a tv show

bitcoin is economic medium. not a childs toy

[TangentC]

bitcoin is not a product. its a category/industry

Sorry, Bitcoin is an original old outdated product , (An 8  Track Tape of the crypto sphere.)


all one has to do is look at the limited performance and features it offers compared to all other coins.

[livingfree]

IMHO, we're at the growth stage. The introduction was already done and has been made several years ago until the media came in and the institutions too.

We're far from seeing it decline and if ever it's going to decline, it's only the chart and its price which shall recover afterward. That's based on what happened in the past because whenever bitcoin drops, it recovers.

[Ryker1]

^[snip]
4. Decline Stage: Everything that has a beginning has an end. At the stage sales deteriorate drastically. And the product will phase off the market unless the product is redesigned.

Well, from 1 to 4, this statement which the most I disagree with is this number 4. Bitcoin is no life that has an end, it should always forever and it has a limited supply, it could increase the price by the demand and the supply, and the price all matter in that way, and most of all, bitcoin is not a product that could be phase off in the market and most especially, bitcoin created with how its own code and no one can change for the redesigned, if there is, that is bitcoin fork with different network and will also different miners. I think you must understand first how bitcoin will work before making this thread.

[Viscore]

Imo, I don't think that bitcoin is a product. So it will not follow the product life cycle. Bitcoin is an asset. It will not decline. More and more people will continue to have and keep bitcoin for themselves by so the value will continue to increase as time goes. Just like gold, as the life cycle will not work for gold, so also it will not work for bitcoin

Bitcoin is definitely an asset or a currency so it would increase its value once the demand becomes higher too. And i see today that bitcoin as a currency or a good store of value is gaining its growth knowing there are still bigger institutions that would be interested to accept bitcoin as a payment system in the coming days.

And yes, just like gold people will keep on accumulating bitcoin especially when the price is in dip because once its value reaches another ATH, people will not only create huge profits but adoption will aso grow as well.

[GeorgeJohn]

But I am very sure BTC is not in Decline Stage.

How are you very sure that bitcoin is not at declining stage? Bitcoin has many things to redesign to fit in the current market. So many altcoins has some designs like PoS that eliminates some barriers. At this very stage Bitcoin need to redesign to remain very valid, if not it will surely fade off. Every product follows the above staeges, but some tend to remain in the maturity state for very long, such as fiat currencies.

[cryptomaniac_xxx]

I disagree with the analogy here, bitcoin cannot be define as a product in the first place so everything is already wrong in the beginning. And for technicalities, all bitcoin is going to be mine around 2140, so that is a long process and then we have the boom and bust cycle along the way. And then we have the halving, and I don't think any products in the market has this kind of event.

[hatshepsut93]

Bitcoin is not a product, it's an open source software. Bitcoin doesn't make sales. The closes analogue for sales is the number of transactions. Bitcoin blocks are full almost all the time, so it's clear that its popularity isn't declining and won't be declining anytime soon. Its competitors are also very weak, none of them has the same security and safety as Bitcoin, and they don't plan to have it.

Yes, all things must come to an end, but Bitcoin will not end in our lifetimes.

[blackened515]

4. Decline Stage: Everything that has a beginning has an end. At the stage sales deteriorate drastically. And the product will phase off the market unless the product is redesigned. .

The days that will not come, or the days that will take centuries to come. Bitcoin is deflationary, people will like to hold and you will see all-time-high. Just see it as the digital gold.

You said "unless it is redesign" this alone makes it a factor of continuity. Looking at the market condition since 2009, does it remained the same thing, haven't you heard about company buying bitcoin for reserve,? hasn't been said to be redesigned? Haven't you seen lots of new implementations, everything around Bitcoin is now in a civilized entanglement, this is the proff that bitcoin is not going to die off anytime soon, bitcoin is here to stay for ever because it is a digital asset with the same thing as physical land.

[husnija]

just wait if the circulation supply has reached 21M, everyone who wants to have it has to spend a lot of money because it's scarce and can no longer be mined. At times like that there will be a continuous increase and there tends to be no decline

[Barry Mantle]

I still think Bitcoin is only a child in its infancy. It has only existed for 12 years, and we have watched it gradually change the world's view of it. Its current price is not stable enough, but the overall momentum of BTC is rising, and I am optimistic about its development in the long term.