Belief is the Engine that Drives Crypto Adoption (or doesn’t)

tl:dr; without reasons to believe, a crypto project will not get significant traction. It is slightly ephemeral, but ridiculously critical.

I was reading Tony Sheng’s post The importance of converting speculators into users where he introduces two different flywheel concepts. One that accelerates crypto adoption and one that decelerates it.

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As I looked at it, I was struck by a couple of things.

The first was just how important “belief” is in the evolution/adoption of a new project. Now, we already know this, of course since we’ve discussed it many, many, many times on this blog.

But, the second was that, of all of the things in both flywheels, the only one that can’t be measured is, you guessed it, belief.

Yet, without “belief,” (apparently an Old English word), the other parts (speculators, users, price) will not move one way or another.

Give people reasons to believe in you.