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Topic: Bitcoin Current Business State (Read 320 times)

epiphanyblockchain (OP)

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Bitcoin Current Business State

April 16, 2019, 02:30:02 AM
Last edit: April 16, 2019, 03:36:05 AM by epiphanyblockchain

There is a Hype Cycle developed by Gartner used to represent the maturity, adoption, and social application of specific technologies.
It goes as follow:
1. Technology Trigger
2. Peak of inflated expectations
3. Through of disillusion
4. Slope of enlightenment
5. Plateau of productivity

I would like to know, as a technology and as a practical service, where would you locate Bitcoin?
In this link you can take the poll. I can't post images, that's why I created this poll so you can see the graph and vote.

https://PollEv.com/clickable_images/IoW5ZLcHxVyCyhFo22VaN/web

Ailmand

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Re: Bitcoin Current Business State

April 16, 2019, 03:58:23 AM

Quote from: epiphanyblockchain on April 16, 2019, 02:30:02 AM

I think we are still in between the trough of disilussion and slope of enlightenment. As per definition, the trough of dislusion is when the expectations or hype start to die down which has occured to crypto when headed to a massive market crash recently. This had decreased the demand and increased negative feedback around crypto .

The slope of enlightenment is the part where we see rapid and a lot of advancements and improvements. During the past months and up until now, we see developers working to improve the blockchain technolgy and cryptocurrency.

That is why I think we are still between the two, we are slowly recovering from a massive loss and distrust of some people for crypto and people are starting to start gaining their faith for crypto once more as development and innovation progresses.

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Haunebu

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Re: Bitcoin Current Business State

April 16, 2019, 07:20:38 AM

I marked 'Less than 5% of the potential audience have adopted BTC' which is the truth since the 2017 crash scared away many old and new investors from the market which is why I am happy with the current organic growth of BTC and other cryptocurrencies in general at present.

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Wind_FURY

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Re: Bitcoin Current Business State

April 20, 2019, 07:47:28 AM

OP, I believe it wouldn't be as simple as using a framework, and compare how other technological breakthroughs have evolved within the framework.

No one knows what Bitcoin truly is in my opinion.

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funchiestz

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Re: Bitcoin Current Business State

April 20, 2019, 10:14:53 AM

Quote from: epiphanyblockchain on April 16, 2019, 02:30:02 AM

I think if we will talk about technology then we mention Blockchain, not Bitcoin.

And second, if we are talking about Blockchain, I guess we are on the first steps (Technology Trigger) yet. Because all the world has just started to learn about Blockchain. And all of us is trying to create something create.

Bitcoin is the first product of Blockchain that we have learned. But it is not a technology itself. It is output from Blockchain. When I mention this, I don't want to tell you that Bitcoin is not important. It is so important. But it is not a tech.

Artemis3

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Re: Bitcoin Current Business State

April 20, 2019, 12:45:58 PM

Quote from: funchiestz on April 20, 2019, 10:14:53 AM

Quote from: epiphanyblockchain on April 16, 2019, 02:30:02 AM

No i don't agree, Bitcoin in its entirety is technology, and it does seem to be between that 3rd and 4th step. Perhaps you are confusing Bitcoin with bitcoin, did you read the thread about what the difference in cap means? No cap bitcoin means coin alone, Bitcoin is all involved: Network, nodes, protocol, wallet and yes, blockchain. We are talking about Bitcoin and not the blockchain, if he wanted to talk about the blockchain the poll would have been about that instead.

If i were to guess where blockchain alone is, the 2nd step seems more fitting.

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YuginKadoya

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Re: Bitcoin Current Business State

April 20, 2019, 01:35:35 PM

We can not really enter the slope of enlightenment until there are many people really adopt bitcoin and not just merely hoarding it, And my opinion would be less 5% of the audience had really adopted bitcoin fully, If we can see many countries that are applying bitcoin to their everyday life or using the blockchain transaction or merchants and business company would apply cryptocurrency as a transaction process and a method of payment with their workers and clients, I really think if many people would embrace that kind of situation I think we can make it past the slope of enlightenment.

xWolfx

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Re: Bitcoin Current Business State

April 20, 2019, 02:11:27 PM

I definitely see it as innovation, in a really broad sense of the word.

Blockchain is actually being used right now in a small way. But it needs to be improved a lot. One problem that Blockchain has right now is that it is limited in the amount of data it can process and really big businesses will probably have a problem.

So this is really an opportunity for that person or group of individuals who could solve that problem. More challenges will come, i'm sure. But if big companies see the value in it, when the big investment starts coming then the progress is unstoppable.

okala

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Re: Bitcoin Current Business State

April 20, 2019, 02:22:17 PM

In my community 10% of the general audience have adopt bitcoin and many more businesses are adopting bitcoin on the stores I can now pay mobile subscription using bitcoin all I need to do is to use the necessarily payment methods to pay and even individuals are now adopting the technology as a secondary currency.

Tahamid

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Re: Bitcoin Current Business State

April 20, 2019, 02:38:25 PM

#10

Quote from: Ailmand on April 16, 2019, 03:58:23 AM

Quote from: epiphanyblockchain on April 16, 2019, 02:30:02 AM

I think we are still in between the trough of disilussion and slope of enlightenment. As per definition, the trough of dislusion is when the expectations or hype start to die down which has occured to crypto when headed to a massive market crash recently. This had decreased the demand and increased negative feedback around crypto I like you with 1, I think more, now there is a beautiful era of 1 copper
3. Through of disillusion
4. Slope of enlightenment
5. Plateau of productivity

The slope of enlightenment is the part where we see rapid and a lot of advancements and improvements. During the past months and up until now, we see developers working to improve the blockchain technolgy and cryptocurrency.

That is why I think we are still between the two, we are slowly recovering from a massive loss and distrust of some people for crypto and people are starting to start gaining their faith for crypto once more as development and innovation progresses.

Yes boos,
I like you with 1, I think more, now there is a beautiful era of 1 copper. this is good time, no pain. I think there is no obstacle in front.

rahmatullah9305

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Re: Bitcoin Current Business State

April 20, 2019, 02:47:01 PM

#11

Since Bitcoin is not valued against the socio-political stability of any particular country, people may rely on it to protect their assets and investments. Apart from this, the researchers found other strong points in favour of the cryptocurrency as a solution for developing economies. Aside from being a solution for the unbanked, the report also sees Bitcoin succeeding at becoming a ubiquitous form of payment over the internet.

traderethereum

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Re: Bitcoin Current Business State

April 20, 2019, 03:33:05 PM

#12

This is what I see on the image from OP:

I think we are now at the Third-generation products, out of the box, product suites and we already pass all of the cycles and I think we will see a high-growth adoption phase. But still, we are still far away from the mass adoption, and maybe we need more than 2 years to see the mass adoption will happen.

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Wind_FURY

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Re: Bitcoin Current Business State

April 22, 2019, 06:28:39 AM

#13

"Third generation products"? No, I believe we haven't left the stage of technology trigger yet, if we're forced to follow that framework, which I don't believe could be applied to a technological ground-breaking achievment like Bitcoin.

I believe you're pinning too much correlation on that chart, and the price chart.

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