Adventures in Crypto #1: Late to the Game or Lunatic Fringe?

Hello Steemian friends,

Today we are off on a non-travel related tangent – as I am prone to do every now and then.

I am going to venture into @cryptoandzen’s realm – and hope he doesn’t divorce me for stepping on his area of steemit posting 😊

This post is driven by a discussion early this week with Kain Warwick, the founder of Havven.

Havven is an Australian company that recently ran a seeding round we invested in, which looks at addressing one of the most pressing issues of cryptocurrency – Volatility. This is an area we have been looking at for a while and have already invested in other similar coins such as Corion.

But I’ll let @cryptoandzen chat more on Havven in future posts.

The conversation with Kain was interesting, during the discussion he mentioned that most people who had invested didn’t actually have the foggiest what Havven was trying to do and how it worked – case in point my best friend who invested and was like – “cryptowhat?”, “ICO what?” and my purse is perfectly fine why do I need a “Wallet”?

I think he was surprised we seemed to have a good grasp of it.

I’ve found being active on Steem and in some of the Discord Channels that crypto and blockchain are kind of the norm. Just an everyday part of life as we shuffle funds around – talk about ICOs, compare portfolios.

It’s easy to forget that pretty much the rest of the world think we are speaking something akin to martian!

Steemit was around a year before we hopped on board. I always feel like we got in really late and it was my interest in Steemit which drove the necessity to learn more about cryptocurrency and blockchain in general.

However, once you get out into “normal society” it starts to become clear in fact, that not only are we early adopters – but still in what is known as the “lunatic fringe”. Some of the very first people to start using the technology – and who tend to get a little bit fanatical about it.

If you look at the Technology Adoption Curve and compare cryptocurrency to the adoption rates of other technologies, you can see where this rings true.

Source

We are still a fair way from the early majority as cryptocurrencies are still hard to use. Imagine most grandmothers trying to set up a wallet and transferring the correct tokens to the correct addresses. (No offense intended to the Nana’s out there)
Along with that – the clear uses for crypto and the wider blockchain technology are unclear as companies scramble to bring their services into the digital currency revolution.

It’s like we all know it’s going to be big, and it’s going to be good. But we don’t truly know how or why, so we are just hopping on board so we don’t get left behind!

Those who got left behind in the dot.com boom are not silly enough to make the same mistake again 😊

Source

But that’s how it is with most technologies. It starts out hard to use – and then over time as the tech improves and as people find uses for it, adoption rates increase.

And as the graph shows, adoption rates are speeding up with each new technological innovation, so it’s logical to think the adoption rate of blockchain will increase exponentially. So we might be the “lunatic fringe” for now, but for how long?

And while most on this platform are likely to be crypto supporters, for the sceptics – I have a great quote from Andreas Antonopoulus

“If you think people find Bitcoin weird, imagine a time when they told them gold is no longer the money, bits of paper are… they were like you gotta be kidding me. So that idea was so radical, it took 400 years before it became broadly deployed in mainstream society.”

Now it’s not going to take 400 years.. but the point is – no matter how radical - it is going to happen.

Just like the telephone through to electricity, TV, Internet and everything in between, the excitement, and the opportunity lies in that early adoption phase. Time to rejoice in your inner lunatic and strap on for the ride.

Thanks for reading – tomorrow we will return to normal programming and I’ll leave the smart stuff to @cryptoandzen 😊

Steem on with Love and Light

Sources

1. DepositPhotos
2. We Use Coins
3. Cryptocurrency Citizen
4. Steve Boese
5. Giphy

You can check out some of my other posts here:
* Amateur Adventures #39: Sailing Croatia - Best week ever or over-rated?
* Amateur Adventures #40: Spending a Perfect Day in Cinque Terre
* Amateur Adventures #41: Exploring Pompeii
* Amateur Adventures #42: Chillin on Mykonos

---

If you enjoyed this post don't forget to UPVOTE and Hit that FOLLOW Button!

Let's All Share the Steemit Love!

Don't forget to come check out the teamaustralia tag and see what exciting things we are all up to in the land of Oz! It's full of Aussies and Aussie-lovers with great stories from when we are at home or loose in the world!

Thanks to @bearone for creating my beautiful teamaustralia banner which I love sooooo much! Don't forget to check out her posts and show her some love as well.

If you are a newbie and looking for help - or you just want to help support the minnows and grow this wonderful platform of ours - please consider checking out minnowsupportproject. This is a fantastic initiative to help everyone grow together and is full of fantastic advice for anyone starting out. You can find out more about it here.

https://steemit.com/minnowsupportproject/@minnowsupport/minnow-support-project-problem-statement-vision-statement-mission-statement-and-plan-to-help-you-grow-from-minnow-to-whale-with

(Logo and Banner Created By @justcallmemyth - another great Steemian you should check out and support)