What Are The Ingredients of Mass Adoption? PT1 Blockchain

in HODL4 months ago (edited)

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Bitcoin Bitcoin Bitcoin, when looking at how large the Blockchain industry has grown being led by Bitcoin over the years, most people have no idea the immense amount of negative scrutiny and slander its received from both the public and the Government.

One will think that the fact that Bitcoin was the first and only technology to enable borderless anonymous P2P transaction without the intervention of traditional banking systems was something everyone will willingly embrace, however, everyone in this context is including scammers, fraudsters, thieves and every category of negative human behavior one can think of.

But how much of that could you blame on the innovation? A tool can either be good or bad depending on how it's been used and who uses it. Apparently we all know negative news spread faster and the government purposely made the media to program the minds of ignorant people to see it as what they portray it as, evil, all in the intention of eradicating its existence.

Accepted that many have and are using it for the wrong things due to its unregulated nature, this is based totally on human behavior, you can ask Venezuelans how Bitcoin was practically the rescue to their crumbled economy, but that's a story for another day. What I'm trying to say is that, in the early years of Bitcoin, it had as much negative reputation as could be possible. Many Bitcoin OG's will attest to it.

I remember those days, if you googled Bitcoin, the first page is usually populated with scam warnings and scam websites/blogs, the propaganda projected by the media made sure to portray Bitcoin as scam and no go area, now you tell me, out of 10 people, how many do you think will want to take a risk in what the media has labelled scam?

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But also, out of that 10, by some sort of chance, 2 might take the risk, the replication of this scenario, is what made Bitcoin what it is today even amidst all the governmental/public scrutiny, slander and how much people have lost in scams and in lost keys, Bitcoin should be highly despised today, but that is not the case at all. People who discover bitcoin and understand its value find themselves lucky, me for one, even though I will never stop claiming having arrived late.

In relating this context to Hive, alts generally, Hive is in a better position for growth and mass adoption than Bitcoin was 10years ago, you can't compare the acceptance rate of anything crypto 10years ago and the acceptance rate now 10 years after.

Also, importantly, there are more mediums of passing information than was 10 years ago, majority of us are out there on Twitter, reddit, facebook, youtube, showing the world the capabilities of Hive, network by network and whether we like it or not, these actually have major effects however infinitesimal it maybe.

Sometimes I sit beneath the moon and think to myself, how will I feel if I had access to information about Bitcoin and bought a thousand coins at its launch, given that I waited 10 years, by now, that's like $9,000*1000 = $9,000,000, say I bought each coin at 10$, I'm horrible at math so I can't exactly say how much percentage profit that is but if the estimate is not obvious to you then maybe you should not handle money at all. Ofcourse its just fun to think about, there are more chances that I didn't wait for 10years before cashing out, but you get my drift.

I might have missed the boat of acquiring 1000 Bitcoins 10years ago, oh you thought $9,000,000 was a lot if money? Wait till I get to 10,000HP, sorry, scratch that, wait till 1 Hive becomes $10,000 in 10 years. Now multiply that by 10,000HP, I'm over shilling it at this point yeah?

Wait, forums were the mode of communication for Bitcoiners back in the day, old ugly looking forums, Hive is gamified in form of a social media to be monetizeable even while networking, collaborating, contributing, connecting, creating, basically living in a virtual world.

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Besides multi-investments, what can catalyse the mass adoption of Hive?

  1. Topping charts : Topping charts helps showcase any inquisitive person directions or solutions to answering questions like what is most used this or that, from there the visitor could be converted into a user.

Ingredients that contribute to Hive topping the charts are -

  • Technology&developments
  • Rate of user activity,
  • Volume of transactions
  • Rate of active Dapps

For example, already, the most used Dapp according to Dapp Radar is Splinterlands is built on Hive, that's some major PR as Ubisoft is even about to learn about Hive through a program organised including both parties "handshaking" i.e Splinterlands and Ubisoft

While not all the factors are in our control like volume of transactions or maybe it is,
it doesn't end there. This is where I see communities coming on. Activity on the chain has to be fostered by community leaders, the more the merrier really,.. but the more active the better.

Things that are still in our control are factors like rates of user activity because trust that if every community is super engaged, Hive is going to spread like wild fire by topping major charts. Other factors like the Technology are why we are here in the first place, well, for me,..

While for rate of active dapps, there are two ways to it, Hiveans will give your dapp a try but spit in your face once they smell shit. I prefer that than to be accommodating and shilling crap just because it adds to the Dapp population on the chain, you can ask Drugwars what they faced when they began to go shady on Steem, thankfully the blockchain is transparent and all info are public.

According to state of the dapps 3 of the top 7 Dapps are built on Hive

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This is cool stuff and will only keep getting better, Hive is barely 3 months, but in the real sense as been through 4 years of development and is only getting better.

According to my experience here over time, when it comes to the rate of active Dapps within the ecosystem, if the dapp is cool, it will fly, the presence of Layer 0 - the community makes it easy for Dapps to boom as I mentioned in this postwith the impact of layer 1 - the technology.

This post concludes the first part of this series in trying to brainstorm ideas to catalyse the rate of adoption of Hive, thank you for reading.

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Paypal should also be a huge new entry point for a lot of new people to get bitcoin then learn about alt coins like Hive!

Posted Using LeoFinance

Paypals news is practically exposing crypto to over 300million users world wide. Thats something

Glad to know we have the dapps built on hive in the list. We have a great future with hive.

Yep we do...thanks to the layers present on Hive comparable to non

Missing the Bitcoin boat is almost unforgiving but Hive missing Hive too will just classify me as a loser. My immediate goal now is to hit 10k HP.

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This is cool stuff and will only keep getting better, Hive is barely 3 months, but in the real sense as been through 4 years of development and is only getting better

I truly believe HIVE DApps will play huge role is crypto mass adoption

I also have that feeling. Imagine 100 types pf Splinterlands on Hive.....moon baby!