The Lindy Effect - A case for Bitcoin's legitimacy

WHAT IS THE LINDY EFFECT

Lindy's Law was first coined by Albert Goldman in 1964. In essence it describes the life expectancy of "non-perishable things" like technology or an idea.

The concept states that life expectancy is proportional to the current age of the 'thing'. So every additional period of survival implies a longer remaining life expectancy. In simpler terms: The longer something has existed, the longer it is likely to exist.

LINDY EFFECT + BITCOIN

How does this relate to Bitcoin? Well, if Bitcoin was to follow the Lindy effect it would mean that the longer Bitcoin survives, the longer it will keep surviving. In essence, Bitcoin by continually being talked about continually finding price action, continually "being around", legitimises itself, giving it more chance of continued survival in the future.

We see this in fascinating ways. The continued news cycle of Bitcoin (negative or positive) gives it an air of legitimacy in regards to being a phenomenon. It primes us to be ok with continually hearing about Bitcoin. Which in turn makes us feel ok with the idea of Bitcoin, the mere concept of Bitcoin now being a part of the modern world.

It kind of follows the network effect too. The more that people buy in to Bitcoin, the more likely other people are going to buy into Bitcoin.

WHAT ARE YOUR SAYING?

What I'm trying to say is that Bitcoin is here. It has been here for a while. And the longer it stays around, the more the every day joe will get used to it. The more they'll be ok with it existing. The more likely they will be to buy it.

I think crypto is here to stay. At least, the longer it's here. The more likely it will stay here.

It seems that legitimacy follows an exponential curve too.