We are still early adopters

[johnyj]

I say we are late and adoption is not as cheap as it was before.

Absolutely true. I wish that I would have been one of the 2010 bitcoiners. In this way we are late.

Who knows the future? If Bitcoin fails, we lose. However, if we can promote Bitcoin into 10x the use that it has today, the price will probably go up some. Maybe not 10x, but maybe back to the $1,200 range.

Since the exchange rate rise exponentially, you are always late any time, actually the coin's price is always the same as the current mining cost, so the investment decision is equally difficult in 2011 or 2014

Due to the high technical barrier and wallet safety concern, most of the people still does not have enough confidence to store their wealth into bitcoin, so this is still early phase. Once there are many secure wallet storage services up and running and people don't worry about losing their coins, there will be another fast growth period

[Possum577]

Here's a better analogy, Bitcoin is to currency what MP3s are to music. MP3 file medium revolutionized how we record, store, consume, and listen to music. I think Bitcoin is similar...however I don't have as much conviction that that the price is destined to increase. Usage, penetration, yes.

[haploid23]

I see this term used so many times. "Early" is relative. If bitcoins were to last long after the last BTC has been mined, then yeah we're pretty early adopters. But if there was a 51% attack tomorrow, then we're the end adopters.

And on the contrary, you guys missed the boat 

[azguard]

Someday one cryptocurrency or another is going to be pretty much the standard for interplanetary trade.

Due to the limited speed of light, you'd need a block transaction time measured in hours to days.

Speed of light communication is so 20th century, we're onto quantum entanglement based transmissions these days, it's only in the lab yet, but demonstrated.

Show me a working production implementation?

Do you have some info article or some youtube link or something for this.

I would love to read something about it.

[bajlox]

Here's a better analogy, Bitcoin is to currency what MP3s are to music. MP3 file medium revolutionized how we record, store, consume, and listen to music. I think Bitcoin is similar...however I don't have as much conviction that that the price is destined to increase. Usage, penetration, yes.

Nice comparisons, yes something simple to explain is that mp3 or mp4 is something similar to BTC or crypto.

But in fast we are still back with using btc in something bigger. Adoption is going slowly very.

[Flashman]

Someday one cryptocurrency or another is going to be pretty much the standard for interplanetary trade.

Due to the limited speed of light, you'd need a block transaction time measured in hours to days.

Speed of light communication is so 20th century, we're onto quantum entanglement based transmissions these days, it's only in the lab yet, but demonstrated.

Show me a working production implementation?

Do you have some info article or some youtube link or something for this.

I would love to read something about it.

Best I can find this early in the morning, can't find more recent article I saw.. http://www.nature.com/news/data-teleportation-the-quantum-space-race-1.11958

[Beliathon]

Someday one cryptocurrency or another is going to be pretty much the standard for interplanetary trade.

I am far more optimistic about the success of bitcoin than I am about the success of the human species long term.

[kolloh]

A lot of common users don't see the potential in bitcoin unfortunately. I'm hoping this will change soon though.

[azguard]

Someday one cryptocurrency or another is going to be pretty much the standard for interplanetary trade.

I am far more optimistic about the success of bitcoin than I am about the success of the human species long term.

Faster then we think we will adopt some crypto for every day life you will have it all the way.
In some point were are there there are some ATM, places where you can buy/purchase in everyday life something or you can order something from some store that accept any crypto.

[bajlox]

A lot of common users don't see the potential in bitcoin unfortunately. I'm hoping this will change soon though.

Soon all will figure it out.
In most new technologies and stuff you need time to succeed or to have some good background story.
Dont be surprised if in near future you receive everyday paycheck in some crypto BTC or LTC or some other.

[Nerazzura]

The original post is deceiving as we're not at 15 million.  Bitcoin is only 500K - 2M users.  Jeffrey Robinson on the other hand claims it's as low as 250K users. 

As for comparing this technology with payment processors, you obviously have no idea what the payment processors are (middle men between you and the merchant - hence processing of the payment to the merchant - payment processor).  If digital currencies become big enough then the payment processors will integrate them, including PayPal and Stripe.


Last point but Bitcoin has so many PR and image problems.  Bitcoin is now on television and newspapers a bit (especially if you read the financial sections) so you can't pretend nobody has heard about it.  There's been sample polls indicating that 40% to a majority of adults have heard of Bitcoin but people aren't coming in because all they've heard are scams and thefts.

thanks for all the info. I do not think it's only a bitcoin users. I hope so. true what you say, they have a bad judge to bitcoin before they really knew him. and it occurs because the act of a few people who are not responsible

[Piston Honda]

Perspective, even if all the bitcoin users were in the US, 2 million strong, then it would only be 1% still...

Adoption curves of various technologies....



Perspectives on tech adoption in general...

http://www.slideshare.net/louadi/07-technology-adoption-life-cycle-2014


We are not even at the crook in the "S" curve yet, for most things it seems to require a critical mass of 2 or 3 percent to hit that steep climb. Look at the difference in gradients between the first part of the S and the middle, if how we've expanded and price has risen looks "scary" and unsustainable so far, you ain't seen nothing yet.....

Wow intertesting perspective, cool chart thanks

[El Emperador]

I totally agree with you!

And our advantage will lie non only in the increase of BTC price ( compared with FIAT currencies ), but also, and IMHO above all, in our mastery of this brand-new technology.

[Febo]

Difference is Web has 300M users at 5 years mark, we have no more than 1M users at 5 years mark. At this rate, it'll be year 2150 when we reach 1% population

Internet did not start in 1995, but 10 years before. It would be unreal to start and have 16 milions users. Bitcoin is at stage before was Internet in 1995.

[jubalix]

I was on the internet in 1993? on a sun spark using mosaic....it was basically as good as anything today. It was pretty awesome.

Before that in the 80's is was bboards and FTP

[Fat Ronaldo]

I see this term used so many times. "Early" is relative. If bitcoins were to last long after the last BTC has been mined, then yeah we're pretty early adopters. But if there was a 51% attack tomorrow, then we're the end adopters.

And on the contrary, you guys missed the boat 

Was going to say this is all relative. Only time will tell whether we are early adopters or not so it's pointless speculating on it. I still think bitcoin has barely even reached a tiny percentage of it's true possibilities so I think there's still a good chance.

[Flashman]

I was on the internet in 1993? on a sun spark using mosaic....it was basically as good as anything today. It was pretty awesome.

Lucky you, our sysadmin wouldn't put anything but cello on until mosaic got to about 0.9

[bajlox]

Consider this that every third person has computer and every third computer person has internet.
So let say les then fice year and all internet users will at least hear about bitcoin or star using it.

[azguard]

I was on the internet in 1993? on a sun spark using mosaic....it was basically as good as anything today. It was pretty awesome.

Before that in the 80's is was bboards and FTP

I started using internet almost 20 year ago back in 95 or was 96.
Lost of thing change in this period some were slow some fast.

Lest think about this like internet some thing will be slow to adopt and some will be fast.

[BitCoinNutJob]

Amazing we still to this day have less than half the world with internet access, the internet changed everything for me.