Post
Topic
Board Economics
Re: If you hold 1 BTC you are a pioneer
by
spb25
on 28/02/2016, 19:16:37 UTC
In 1995, I was told that my monthly subscription to America Online was a waste of money.
In 2002, I was told that ditching my checkbook and using online banking was "crazy."
In 2003, I bought a 256 mb MP3 player, and I recall trying to explain what digital music was to people that still had not used the internet.
In 2005, I was the only person in my high school class that had a Facebook page.
In 2009, I bought an iPhone, and everyone wanted to see it.

**I live in a very rural area in the United States, and not many people here have more than a high school education. I still know a lot of people that have never used the internet.

In 2013, I met the first person in this community that made me feel like a Luddite. I am a law enforcement officer and I busted a guy that was using BTC to buy drugs on Silk Road. (I am not a federal officer. I caught him with the drugs and he explained to me how he obtained them.)

My point is that even though it has been seven years, just because people see something on the news or in a magazine, doesn't mean that they have the insight or the courage to jump in. Many people know about cryptocurrencies, but not many people have taken the time to consider the potential future. The operative word here is potential.

In order to understand that potential, a person has to dig very deep. In most of the world, that isn't close to happening yet.

One big factor that I have not seen anyone address, is that BTC requires one critical component, that does not exist yet... an internet connection. Even bigger, if it is going to be used as a currency, a person will need a smart phone.

You may reside in an urban area, and if you do, you wont see this. I have heard how this currency can help the "unbanked" in developing countries. Sure, it absolutely could... but you can provide them all the 2x4's in the world and they still can't build a house if they don't have nails.

Let them eat cake...

We won't be getting rich anytime soon.