FOMO
It is fear that drives bitcoin. With the advent of Bitcoin, we are now faced with the modern day example of game theory. And while we are way before any useful and groundbreaking application of Bitcoin, FOMO is the strongest market force behind Bitcoin’s worldwide popularity.
Thus, it is not the acknowledgment of Bitcoin’s usefulness but a fear of missing out on this very usefulness when it comes. You don’t want to be the one banning crypto during its ambiguous phase just to miss out big when crypto shoots high.
The promised benefits of anonymity, breaking loose of the dictate of nation states and the chance to finally build one’s desired American dream look so understandably good. This is why the world unilaterally agreed on Bitcoin’s appeal without any timelines or guarantees.
Each passing day, it is harder to stay neutral to the overwhelming popularity of crypto world. Governments are taking stances, new converts are boosting market capitalization, ICOs get issued, and new exchange and mining companies appear on the radar.
Still being in a middleware phase, cryptocurrency is adopted and pushed into the day-to-day activity with a hitherto unprecedented speed. It looks like humanity’s adoption and the learning curve is becoming way steeper. Each year we are getting readier to embrace each revolutionary idea.
If we look at the traditional curve of technological adoption innovations’ popularity is very much dependent on the number of its use cases. At the moment there is no a real change and significant improvement delivered by virtual currency.
