Why cryptocurrencies are NOT a fad and why NOW is the time to invest !
You know bitcoin. And if you’re lucky enough, you know about cryptocurrencies. But if you’re reading this, it’s probably because you haven’t made a move yet and purchased your first cryptocurrencies. You’re curious, you wonder, but still…
“Buuuuuubbblle you say?!”
I understand your situation. I was like you not that long before. I was very curious about cryptocurrencies but I was too scared to invest any of my own money. After all, all major news outlets where saying that cryptocurrencies were a fad and that they were just a bubble.
Fast forward to today, and a simple Google search shows the same situation:
It looks pretty convincing indeed, but like all news there’s way more to cryptocurrencies than bubbles and fads.
You see, cryptocurrencies are a brand new technology. And every new phase of technological development ALWAYS follows the same pattern:
At first, inventors and innovators in the know start a new trend by inventing stuff that no one knows about but that is usually a revolutionary solution to simple problems.
Remember the World Wide Web, the old name used for the Internet? This little bit of technology was invented in December 1990 by Tim Berners in a scientific laboratory in Switserland. He was clearly an innovator! Back then, no one knew about the World Wide Web and by the end of 1992, you could only find 26 websites online.
Amazon started selling books in 1994 (early adoption phase), the same year that Nescape invented its internet browser. Compare that to Google (Late Early Adoption Phase), which was created in September 1998, Facebook in 2004 (Early Majority Phase) and SnapChat in 2011 (Laggards phase).
When going back to the first days of the Internet, who would have guessed that 21 years later we could use mobile phones to send private messages that self destruct after a few seconds?! No one, because the during the early adopters phase, only basics layers of software existed and everything we know today as the Internet was yet to be created!
The Age of the Internet of Money
The same is happening with Cryptocurrencies. Like the Internet ushered the Age of information, Cryptocurrencies are ushering the Age of Money. Like the Internet allowed us to start communicating with anyone on the planet without the need of the mailman, Cryptocurrencies will allow us to trade goods and services with anyone in the world without having to go through the bank or depend on any intermediaries.
Cryptocurrencies are the new Internet of Money. Not only Bitcoin but more than a thousand cryptocurrencies actually exists and this technology will change everything.
However, this is the 1994 Netscape moment of the Internet of Money and using cryptocurrencies today actually feels like using the Internet of the mid 90s, when you needed to know how to code to be able to send an simple email and it took forever for a picture to load on any web page.
Buying cryptocurrencies is still very hard to do. Storing your cryptocurrencies still require that you install a whole bunch of softwares and sending out cryptocurrencies to a friend is still as slow and complicated then it was to send an email in the 1990s. But like the Internet, new layers of softwares will be created and there will be giants of the Internet of Money just like there is Google, Facebook and Twiter in the traditional Internet world.
You will see cryptocurrencies used everywhere sooner than later
Those giants will come sooner than later because each new technology, from the cars to PCs and tablets, always get adopted faster than previous ones:
While it tooks decades for telephone and electricity to reach an adoption rate of 60%, it only took a little more than a decade for smartphone to reach more than 80% of adoption. As the new technology, what do you think will happen of cryptocurrencies? They’ll get adopted super fast, way faster than it took for social media and tablets to be used by the majority of the population
Did you say FAD ??
Cryptocurrencies are all the opposite of a fad. We are such at an early stage that, like the Internet, a whole ecosystem is yet to be born around cryptocurrencies. And if like me and you think that recent technologies like smartphones are conquering the planet at ultra high speed, you now know that the same is going to happen to cryptocurrencies and things are going to move fast.
So if you haven’t invested yet in cryptocurrencies, you might want to start NOW if you don’t want to miss the train!