Will you be part of the early adopter group? Or is this graph just completely wrong?
This is a really nice pictorial representation of crypto vs internet adoption with almost 25 years between the two epochs. I have read that the adoption of crypto will be steeper than was the internet. Since Facebook has about 2.5 billion users, and assuming their recent announcement of “Meta” means they will maintain a strong presence with their customer base, that will not be surprising.
I think we have four years at the maximum to make hay whilst the sun shines. That is just another one cycle. Assuming the current cycle stops end of this year, and BTC is $100K by then, it means BTC may then do a 10X in the next four years to $1M.
Meantime, “the flippening” may happen between this cycle and the next, and it could be ETH that is the dominant player next cycle. So stack both and it doesn’t matter if the flippening happens or not.
I am chasing the DeFi networks. Like Ethereum, which now hosts the majority of cryptos as ERC20 tokens, the up and coming other Alt networks will have their day, and I am looking at those who onboard a large number of DeFi, gaming and NFT cryptos towards the end of this cycle.
I may have misunderstood what happened last cycle, but from 1999 onwards that is when my background in electronics, data analysis and IT gave me a consulting career for the following 20 years that may not yet be properly resourced. My most profitable work has been based on knowledge of internetworking protocols and in particular, cybersecurity. I have drawn a direct comparison with Web 1 (internet boom) where the early gainers were the companies that controlled global networks (Verizon, AT&T, Vodafone), that then gave way to the content providers (Warner, Disney, Sky), whose gains were overturned by the likes of Facebook in Web2. I see Web3 as a copy of Web1. In this early adoption stage, the big gainers will be the network providers - this time being the likes of ETH (ERC20 tokens) and the five or so others that are playing rapid catchup as they have already entered the top 100 cryptos by market cap.
Now the content providers (similar to Sky) are starting to show. Like the DEX s that are being created on the Alt networks. Later in the next cycle, it will be those cryptos that provide apps that will achieve mass participation by a billion users, that will top the list of growth tokens.
$1M! That’s mind blowing. Then again, I would have also told you that back when BTC was still at $700. Shoot, I remember thinking it was way overpriced then. Was I wrong lol.
Which ones in particular?
This I can def(i) see.
When you have time, do some more reading and research on SOL and the SOL ecosystem. I think currently it’s the most likely to compete with ETH directly. ETH’s definitely in the pole position, but the developer community behind SOL is moving fast and creating project after project. Would be worth your while to get to know more about it.
and for @BillyBobPimpton. thanks for the steer on SOL. I may have missed the boat on this one, but to answer the question from ponponwei:
I haven’t even determined which currencies constitute this “market” called DeFi. I had a list last year, but that has grown like wildfire with new entrants. Not enough time to assign to this yet, but my thought processes will probably look like this:
1 List all currencies that are deemed to be in the DeFi business
2 Are any worthy of being considered within the sh__coin strategy? (can they 10X, 100X or 1,000X?)
3 Have they yet to surpass their previous ATH?
4 How many apps have they managed to adopt that run on their networks and that are likely to remain on that network and not migrate to another network?
5 What is their target market, and what is the per transaction cost expected to be for that target market?
6 Other questions I have not yet thought of. but will become apparent when I have answered the first five.
This is an excellent write-up. It’s so much more than, “can I still get in and get a 10X”, completely driven by FOMO. Kudos to you again.
DeFi, DAO, all these things I really need to read up on. If only there were a babypips for crypto