Are you wondering where the hype around cryptocurrency went?
It means you’re in the chasm. It’s the place where new technology goes after people get excited about it but before it really takes hold.
Sometimes, technologies fall into the chasm and die. Sometimes, technologies climb out and push forward to new heights. Those that survive leave the chasm stronger, more resilient, more realistic, and more confident than before. Those technologies become useful, then normal, then standard. Eventually, in many years, they become such an important part of life that nobody can comprehend how anybody could ever have lived without them.
Will cryptocurrency survive the chasm? Nobody knows! New technology always takes a while to get settled. Artificial intelligence still sucks. Robotics only just got rolling in the past decade or so. Machine learning is still a work in progress. Electric cars still make up a tiny part of the auto industry. Flying cars are still mostly prototypes.
The difference with cryptocurrency is, you can buy it, put a price on it, and plot it on a chart. Have you ever had a technology that normal people could buy before it went to market? Have you ever had a technology that you could so easily measure in dollars and cents? You can actually see the value go up and down. When it’s up you say “OMG” and when it’s down you say “OMG” and nothing fundamentally changes except numbers on a computer screen. The technology doesn’t change when the price changes.
Relax. Visit this website once in a while to step outside your day-to-day, set aside the news cycle, and think about what’s really going on with cryptocurrency and why it matters to you. I’ll post facts and perspective and opinions. I’ll answer your questions. I’ll share a little of what I know. Maybe you’ll still think cryptocurrency is garbage, but at least you’ll have an informed opinion.
Further reading and credit for the image:
Cryptocurrency And The Diffusion Of Innovation
Also published on Medium.