Crypto works via a network effect

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Avatar for TheEmpress
1 year ago

One of the things which makes crypto so powerful is that adoption and growth occurs through a networked effect. This is like an snowball rolling down a hill; at first it's only really small and going very slow. As more people get involved, the more innovation occurs, then more products and services adopt use of the crypto currency and finally more investors and users hold it and use it for the long term. This cycle will then repeat as more people will adopt it the next month; each time the networked effect growing larger and the currency becoming more well known and adopted each time this circle repeats.

Over time this raises the demand, which then often raises the value which then often makes the crypto currency spoke about more in the news and get listed in more market places.

The world saw this with Bitcoin.

And saw it again with Ethereum.

Then again we're seeing it with Bitcoin Cash.

We've even seen it with DogeCoin.

The pattern goes from obscurity, to community growth, to usefulness, to value with time and adoption. Every crypto has to go through these stages, and it matters not how good it is, adoption and innovation always are the catalysts to long term and sustainable growth.

Knowing this pattern can help us significantly understand what makes Crypto valuable and how to help a legit project overcome the start up phase as well as how to make existing crypto currencies and tokens even more valuable and known then they are currently.

By this you can also see which endeavors will give the most results for your efforts in boosting adoption too.

Via this method you can see that news coverage isn't really the best measure of adoption, as the news will cover negative news way before they ever talk about good innovation. While a project getting news and articles written about it (or a tweet from a famous person) is good for a quick boost, if there's no innovation and adoption backing the project then this won't lead to long term growth.

We need innovation and use cases for our favorites!

And this is where Bitcoin Cash thrives and outperforms the rest again.

SmartChains are good once a few dozen or more great projects utilize it regularly as it will use BCH, lock it up in liquidity and sometimes even burn it. Done right SmartBCH could revolutionize decentralization across the board. But it'll slow us down if most of the projects jump ship or go multichain and ignore SmartBCH.

Read Cash and Noise app are awesome for adoption. These type of projects and services get thousands if not tens of thousands of new people onboarded to BCH and let them see it in action. It takes something all of us do (Blogging and Social Media) and allows us to integrate this with Bitcoin Cash.

Rain Cash is now taking the internet by storm, allowing creators to build communities and use BCH to boost their voices across social media. This shows yet again, thousands of people the real power and ease of using BCH!

Small merchants adopting BCH is beyond awesome, even if it occurs in the background. Once an overwhelming amount of small merchants and some large ones accept BCH then the sky is the limit as more people will find good outlets for their Bitcoin Cash holdings.

A few social campaigns would help more; especially if these focused on the above aspects and the fundamentals of why Bitcoin Cash is superior to everything else out there rather than simply the market movements of BCH or some cute memes.

Remember the cycle, the network effect that every crypto must go through in order to thrive! Bitcoin Cash is way above the competition in fundamentals and ease of use - so let us focus on the different aspects of the cycle mentioned. Pick an area to be active in and go boost it further. Each of our efforts will multiply in effect over time, each time bringing BCH to more people.

By then we won't even need a post from a famous person, the news can try to FUD us into obscurity and it will be too late as the market will have decided: Bitcoin Cash is the way!

The world will run from the elites and the fiat currencies - straight to Bitcoin Cash; each little action each of us do will make BCH adoption get stronger.

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1 year ago

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Crypt is the future and with the risk of starting a debate, there will be no chains in the future. The Uni-Chain will (must) take the best technology from everything that exists

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