Human Behavior and the Slow Road to Adoption

Emogi Coin
Nov 3 · 3 min read

In the world of cryptocurrency, as is with many things in today’s internet age, it can be easy to find yourself stuck in the bubble of the space and experiencing the world a bit differently than the wider public. Just owning Bitcoin and other cryptocurrencies places you in a small minority, as a percentage of the total population, so it’s easy to form an echo chamber in such a small space.

When it comes down to it, widespread adoption simply takes time. Collective populations have historically been slow to adopt change, often only doing so when it becomes critically necessary.

Once you really look into what Bitcoin and blockchain technology offers the world it becomes clear that this is the technology of the future. Just like many of the early proponents and developers of the internet said back in the 1980s. It’s now been 30 years and the internet has fundamentally changed the landscape of our planet, and it is still in its early development.

The process of change, especially when it comes to the development of technology, is never-ending and appears to be speeding up. It’s entirely possible that one day the entire internet will be hosted on a blockchain, helping add a new level of immutability to the recorded history. Whether or not that level of record keeping is a good thing or a bad thing is deservedly debatable, but that appears to be the way things are headed at their present trajectory.

Yet while the rate of change in technology is noticeably increasing, the rate of change in the general population continues on its long-held path.

“If it ain’t broke, don’t fix it,” is a common phrase that helps explain this phenomenon.

And even though many of us in the cryptocurrency space (bubble) know that there are many things that are in fact broken and need fixing, that is just not a widely understood fact purported by the mainstream.

These words are not written as a way to discourage individuals in the blockchain and cryptocurrency space but rather calm their nerves.

As was referenced earlier, the phase we are in for the evolution of blockchain technology can be likened to the 1980s. A look across social media or popular YouTuber’s who are into the crypto space would give the impression that adoption is all the rage, but a visit to some of the top crypto conventions around the world have yet to come anywhere close to what you experience at widely adopted conventions such as Comic-Con or major sporting conventions.

But one day it will be. All that is required is patience.

A closer look at the Bitcoin price cycles actually shows that the period of time in between each peak is increasing. This is normal for the emergence of something new that will be long-lasting. As a market matures it finds greater long-term stability with decreasing volatility. If you take out a tumultuous few months out of the end of 2017 and early 2018, a more steady inclining trend emerges that shows consistently increasing adoption and price.

Its time for the people in the crypto space, who may be influenced by the rapidity with which technology increases, to be aware that we are now operating with the human factor, which evolves at a much slower rate.

Ignore the hype and focus on steady development and accumulation. As we head into the 2020s be aware that it could be 2030 before the mainstream adoption that many wish for fully takes place, and the face of both blockchain and the global landscape is likely to be vastly different than we can presently imagine.

Until then, have patience and enjoy the ride.

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