1/13: In this post, the final of a 2 part series, I explain how #Bitcoin is rapidly approaching its ‘Crossing the Chasm’ moment and hypothesize that the @lightning Network is #Bitcoin’s Crossing the Chasm Superpower. 

A thread 👇🧵👇

michael-levin.medium.com/part-2-lightni…
2/13: Before diving into this new post, if you haven’t already, you should read Part 1: The Dual Adoption Curves of #Bitcoin as it provides some key context.
3/13: Over the next decade, #Bitcoin adoption will move from early adopters—>early majority. This moment for innovative technologies has been coined “crossing the chasm” by @geoffreyamoore. It’s the leap that any innovative technology makes from early adopters —> early majority Technology Adoption Curve w...
4/13: While early adopters are risk taking visionaries, the early majority are risk averse pragmatists seeking solutions to their day to day problems. Early majority customers expect a product to just work for their specific use case.
5/13: Moore says the key to crossing the chasm is relentless focus on one specific market segment, a beachhead. Focus all resources on building a whole product for that specific segment.
6/13: Thus far, overall adoption has been driven mostly by #Bitcoin, the asset. But, the early majority, as risk-averse pragmatists focused on the day-to-day problems within their specific verticals, might struggle to grasp the narrative around #Bitcoin as purely an asset.
7/13: With that in mind, @lightning Network is #Bitcoin’s crossing the chasm superpower. The @lightning Network will help transition #Bitcoin from early adopters who mostly use #Bitcoin, the asset, to the early majority who will use #Bitcoin, the network or better money.
8/13: @lightning gives developers the ability to build on a stack that provides instant, cheap, and permissionless movement of value anywhere in the world at any time.
9/13: With the @lightning Network and motivated entrepreneurs, #Bitcoin, the network, unlocks the power of human ingenuity and optionality in its race to cross the chasm.
10/13: With @lightning, #Bitcoin will get an almost infinite number of ‘shots on goal’ to build compelling products and use cases for the early majority. The most similar historical example would be the introduction of the App Store to smartphones. Smartphone Technology Adopt...
11/13: Within just the past couple of years of development on @lightning, we’re starting to see glimpses of potential early majority use cases and solutions…
12/13: h/t to just a few of the developers/entrepreneurs building on @lightning @starkness @ln_strike @JackMallers @fold_app @wlrvs @zebedeeio @Sphinx @stakwork @impervious. There are many more out there right now. And, even more to come that haven’t even been conceived of yet.
13/13: The @lightning Network gives #Bitcoin the superpower of relying on human ingenuity and optionality to cross the chasm. What will the hit products be? No one knows. But, I’m betting on #Bitcoin + @lightning Network. Because, at this point, that’s a bet on human ingenuity.
Slight edit: Tagged the wrong handles for @ImperviousAi and @sphinx_chat in the thread. Sorry about that! But, I wrote about them in the piece so be sure to check it out!

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Michael Levin

Michael Levin Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @MichaelLevin

25 May
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)
Read 13 tweets
24 May
1/10: The events of this past week change nothing about the long term mission and potential of #Bitcoin . Stay calm, stack sats, and run your own node. I just built a node with @getumbrel. It was simple + straightforward.

A thread on how I did it 👇👇
2/10: First, I bought the materials necessary to construct a node using my @fold_app card (always be stacking). The list of materials is on the @getumbrel website. I was able to buy everything I needed on Amazon.
3/10: Next, I inserted the SSD into the Hard Drive Enclosure. I put the Raspberry Pi into its case and connected the Hard Drive to the Raspberry Pi. Insert SSD into Hard Drive EnclosureConnect the SSD and Raspberry Pi
Read 11 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

:(