If crypto were to get some mainstream adoption what would the early stages look like?
Lately, I've had several conversations that have me wondering if I'm HODLing the right coins heading into a recovery. I can't say for sure, but it's my impression this next up cycle might be where the "real" projects start to separate from just moving up and down with Bitcoin.
Of course, since nearly everything trades against BTC there will continue to be a correlation, but I think this time projects that are inactive or do not have any visibility will fall behind. There are so many choices in crypto now projects will have to "sell" themselves. Why buy "project x?" will become a more common question.
So, what will be the signs that the Cryptocurrency Markets are maturing?
- The farming of talent. Larger companies and successful projects with money will begin to hire away talented blockchain professionals.
- Mergers and Acquisitions - Smart projects with savvy leaders will Merge and Acquire other complementary technologies. I can't wait to see what this looks like. One example recently discussed that I don't think will happen, but it's interesting to contemplate is Steem relaunching on EOS.
- Mainstream trying to recreate current projects or ideas. I think this started to happen in 2017 with IBMs Blockchain project and other big companies starting to talk about "blockchain".
- End User Adoption and Easier Tools. Computers and the Internet when mainstream when the tech improved to the level that mainstream users could figure it out without feeling too overwhelmed.
- Crypto words becoming commonplace @inertia brought up the old radio ads where urls were spelled out verbally in the early Internet boom. Come to: www.MedMD.com comes to my mind.
-What else?
Let's brainstorm the signs that we will see before CryptoCurrency hits the mainstream. Add your thoughts in the comment section.
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What I want to see is 24/7 of fiat being converted into cryptocurrencies and pumping the market... For example, there are blockchain-based supply chains that have already systems in place to make big companies like renault, bmw, etc... pump the market with fiat to crypto conversions everytime a transaction is made!
There are also some good cryptos in the health department that will sell your data to big pharma companies and in the process give you some of the $ they make through crypto, making healthcare a lot cheaper in the process!
Markets around the gaming world are multi billion dollar industries that will also pump the market with money! That's what I want to see, big companies pumping the market over and over and over again with money!
Marketing companies paying blockchain users with crypto for their data in order to make a more focused advertesiment, etc...
People are all excited about BTC BTC BTC, but there are some really good and legit projects being developed even this deep in the bear market with good partnerships, good usecases, good tokenomics that will give 10-0 on BTC when the bullrun starts...
If you ever need some "not-financial advice" on tokenomics give me a call, I'm always glad to look into projects :)
Very nice. My background is also healthcare technology. I bet we could have mind numbly boring conversations.
I don't believe we're even near crypto adoption, but hey, who gives a fuck? 😂
I believe when the institutional money arrives it wont just be all on Bitcoin as that wouldn't be the smart way to do it. I think the majority will go on Bitcoin and others with use cases Steem included. What is coming and how much it is going to effect everything we will have to wait and see. I believe that we have seen nothing yet and when it arrives pricing will look unrealistic for a while. Being on the right coins will be really important as they will be cherry picked.
Excellent point.
When they will be major adoption of crypto currencies and blockchain technology by organization and institutions alike and also when major dapps and social media platform is been integrated into blockchain technology and the masses becomes more aware about the importance that crypto currencies plays in our modern society
How about Samsung's S10 with an integrated cold storage crypto wallet? As you said in your piece when the tech enters the average household on items used every day all day long, it will be forced to become mainstream I think
Excellent point that is a big one!
One sign is that recently it was the first time a saw mentioning of blockchain in my profession (healthcare), not while I was searching for it (there are numerous startups if you are interested), but in a presentation sent over from a colleague who was not at all into crypto.
I saw blockchain mentioned in my industry (mining) last week. It was quite a surprise. :)
Crypto will mature over time for sure but I am not sure whether prices will reflect the same as well or not, there will surely be some winners but not every blockchain project requires tokens and we will see some examples where the company would be performing well while the token wouldn't reflect the same due to weak use case. Utility tokens are risky and it is time when people realize that a company's performance need not necessarily be tied with its token price.
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Very interesting thoughts and I tend to agree at some point the token aspect will fade. I don't know that I think we are there yet though, I think right now they will continue to try to tokenize everything.
You are absolutely correct, we are still in a speculative phase and I don't see that changing anytime soon, people still get excited about ICOs launching on Binance launchpad, much like last year where people used to buy in just because some big influencers said so. Bittorrent was bought by Tron for $120 million last year and today just its token value stands at around $800 million if we consider the total supply and compare it to current price of BTT tokens, there are many such examples.
The new company I work for hits every one of your 5 points, they just don't realize it yet ;)
Oh, that is very interesting.
Eh...i've got nothing
Am all for dancing when it goes mainstream though
When big players like Facebook and Amazon roll their own currencies and tools for payments and enter the banking world from the side. These currencies will be highly centralised, and no existing currency will be used, unless the powers-that-be of one of them pull their fingers out and seek cooperation with a big player in the Real Worldtm 🔜.
Agreed!
https://www.coindesk.com/e-commerce-giant-rakuten-opens-its-new-crypto-exchange-to-customers
Ease of use, security and being able to buy goods on sites like Amazon is what I think will get the masses into crypto. I tried the BlueWallet app and that's easy to use. The lightning network could make a difference, if it can be used with multiple cryptos.
Interoperability among different private and public blockchains will be a sign of more adoption as well!
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so far the ones that are the most likely to boom in the next bull run are
bitcoin- its the original it’ll be around for a while IMO
steem- the amount of DAPPs like steemmonsters increase the likelihood of success
besides these two I don’t really know
Its going to take crypto becoming easier to use and better or as good as the projects its competing against. For instance Bitcoin will have to be easier and more secure than pay pal. Steem monsters will have to be a better game then hearthstone. Exchanges will have to have lower fees, more secure, and more transparent then the exchanges we have today. An auditible system of self regulation would be nice as well.
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