1/13: In the attached blog post, the first of a two part series, I explore how the adoption of #Bitcoin can be explained by understanding its dual adoption curves: #Bitcoin , the asset, and #Bitcoin , the network.
michael-levin.medium.com/part-1-the-dua…
A thread 👇🧵👇
2/13: Despite the noise, #Bitcoin is following a transparent and predictable adoption curve based on the Diffusion of Innovations theory. All technological innovations follow this model from invention through the treacherous path to mainstream adoption.
3/13: In just 12 years, #Bitcoin has grown to 135M users worldwide with an adoption rate faster than that of the internet, mobile phones, or virtual banking tools (i.e. PayPal) over comparable time periods (per @woonomic)
4/13: #Bitcoin is different however because its overall adoption is driven by two different yet interconnected technology adoption curves in the form of #Bitcoin , the asset, and #Bitcoin , the network.
5/13: #Bitcoin , the asset, refers to the store of value component of adoption. #Bitcoin , the asset, is an investment with the underlying thesis that #Bitcoin will become a global store of value due to many key characteristics.
6/13: #Bitcoin , the network, refers to the medium of exchange component of adoption. #Bitcoin , the network, enables a global money or currency that is permissionless, programmable, and accessible to anyone with an internet connection.
7/13: These two adoption curves occur concurrently with #Bitcoin , the asset, kickstarting the process so #Bitcoin , the network, can send/receive actual value. These curves are like waves interconnected to push each other and overall #Bitcoin adoption forward.
8/13: #Bitcoin ,the asset, is likely crossing into the early majority while #Bitcoin ,the network, is on the cusp of moving from innovators to early adopters. So, overlapping the two, #Bitcoin , overall, is early in its adoption curve, somewhere in the early adopter phase
9/13: #Bitcoin 's current overall adoption trajectory is mostly due to its smooth transition from innovators to early adopters who embraced #Bitcoin ,the asset, and, thus, the store of value narrative.
10/13: Given the current point on #Bitcoin 's overall adoption curve along with the projected rate of adoption, it is clear that over the next 10 years, #Bitcoin will start to move past those early adopters into the early majority.
11/13: Keep your eyes out for "Part 2: #Bitcoin 's Crossing the Chasm Superpower" in which I’ll explore #Bitcoin 's rapidly approaching crossing the chasm moment and hypothesize about its crossing the chasm superpower 👀⚡️
12/13: Thank you to thought leaders + creators like @starkness @nic__carter @hasufl @saifedean @PrestonPysh @LynAldenContact @RyanTheGentry @JackMallers @jack @PeterMcCormack @Croesus_BTC @APompliano @real_vijay @knifefight @NickSzabo4 @BitcoinIsSaving @parkerlewis @MartyBent
13/13: @Breedlove22 @timevalueofbtc @matt_odell who, through their work, educated + inspired me to explore + write about #Bitcoin . Ultimately, it was that education and exploration that led me to leave Google to pursue a career in #Bitcoin . More on that move next week! 🥳
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