Re:Bitcoin breaks $3K to reach new all-time high
by omarchowdhury on Saturday August 05, 2017 @02:25PM
(#14937107)
Why haven't network effects brought to Bitcoin mass adoption already, then? The very nature of network effects is that they are an accelerant for adoption, why hasn't this happened? It's been 8 years.
Re:Bitcoin breaks $3K to reach new all-time high
by hackinthebochs on Saturday August 05, 2017 @03:28PM
(#14937428)
Network effects isn't about adoption necessarily, its about defense. If a cryptocurrency is going to be mainstream, it will be bitcoin barring some massive self-inflicted wound or some new game changing technology. But adoption hasn't reached critical mass because there are still many usability barriers. Hopefully with segwit we'll start to see those barriers fall away.
People always underestimate the power of network effects. People have been predicting the demise of facebook for the last decade. Surely something better will come along at eat its lunch, right? Wrong. Network effects are and always will be king.