I was fortunate to be lurking and researching bitcoin during its first epic bull run in the 2012 to 2014 time frame. This move eventually ended with a 100x increase in less than 18 months. Unfortunately (or maybe fortunately) I was NOT participating in buying or trading at that time. But I did learn a lot of lessons that served me well in 2016/2017.
In my opinion there are a lot of similarities between the move in 2013 and the move that started in 2017. If my observations are correct we should see bitcoin hit between $50k/$100k by the end of 2018. Below are a few of the similarities. These should not go unnoticed to those considering entering the space.
- Bitcoin Press
- Bitcoin Adoption
- Bitcoin Network/Ecosystem
- Blockchain Advancement
- Initial Coin Offerings (ICOs)
Looking back at 2012/2013 there was a lot of new press about Bitcoin that brought it to the public’s attention. Most notably there was press about Bitcoins use in dark net markets. There was also the famous (infamous?) adoption of Bitcoin by Wikileaks when they were shut out of the global banking system. This brought the Bitcoin brand and value proposition to tens of thousands of new individuals/HODLers around the globe… albeit not always in a positive light.
Fast forward to 2017 and we saw Bitcoin/blockchain press like never before. Eighteen months ago I would hardly find any articles on Bitcoin or blockchain. I’d have to search far and wide to find one. Today there are multiple articles per day on Bloomberg or Marketwatch alone. Searching with duckduckgo will show there are now thousands of new articles every day globally. This is a combination of mainstream media and various blogs/social media sites.
The formula is this. Increased Bitcoin press leads to increased Bitcoin interest leads to increased Bitcoin purchase leads to increased Bitcoin adoption leads to increased Bitcoin HODLing. Consider that in the context of Bitcoin Press in 2017/2018. How are the millions of people yet to come going to find any meaningful supply of Bitcoin? It’s not going to be easy considering its fixed, limited supply and its passionate and happy base of HODLers. Nuff said…
In 2014 there was an increase in the Bitcoin network/ecosystem. This includes everything from wallets to miners to full Bitcoin nodes to new bitcoin users. The network effect and Metcalfe’s Law are in full effect with Bitcoin and blockchain. In 2013 there was large growth in all of these areas. In 2017 there was astronomical growth. In 2018 it will be multiples of 2017.. Once again, nuff said… 😉
The advancement of blockchain in 2017 has surprised even the most optimistic blockchain believers. It’s clear there’s a desperate global need for the benefits of decentralization and transparency that blockchain brings to society and humanity. Twenty-eighteen will be a monumental year where we’ll see many “real” blockchain solutions providing “real” business value. We have moved from the theoretical to the possible to the real. Blockchain solutions will majorly impact any and all businesses, industries, governments, and societies just as the internet did in the late 1990s/2000s. Except this time it’s all happening in software. No expensive infrastructure build outs and expensive/lengthy timelines to get the foundation in place. It’s already there for the taking. Just write the code and off you go.
Initial coin offerings were not even a concept in 2012 so there’s really nothing to compare. It is, however, noteworthy to mention as a prime example of rapid innovation from practically no where. Innovation that has already totally disrupted and altered the landscape beyond belief. Expect more of this in 2018 and beyond in ways we can not yet imagine.
One coming innovation that fascinates me is the concept of streaming money. One of my Bitcoin idols is Andreas Antonopoulis. What an incredible genius and visionary who sacrifices to educate and empower others. Andreas recently spoke on the topic of coming Bitcoin innovations (youtube link) including streaming money. Imagine being paid by your employer in real time minute by minute as you’re working at the office. Imagine streaming car insurance payments minute by minute in real time and ONLY when you are driving a car (with rates adjusting in real time based on known risks such as traffic conditions, driver behavior, etc). Imagine receiving real time payment for attending a party or presenting at a conference or social function. Payments are made only when needed, in real time, and immediately stopped when not needed. The possibilities are mind blowing.
The key to unlocking the future is to get started learning, practicing, and HODLing now. The Bitcoin/blockchain genie is out of the global bottle. Wonderful wishes await us all when we’re ready as individuals. We’ll all come around in our own time frames, some sooner and some later. Sooner is the place to be.
The bonds and shackles of legacy, fixed systems are finally being released. Power is being returned to the people… to individuals. That’s the way mankind and society are meant to function. It’s the only way we’ll achieve our collective world potential and displace the evil that has infected it.
That’s all folks! D