A Big Shift
October 20, 2021
Transformational innovation doesn't happen in one great revolution. It happens step by step. People have to get used to new technologies and start finding them a little less odd, which might take a generation. Surrounding infrastructure needs to be built and costs need to come down. Sometimes it is moving so glacially slowly that you mistake it for a standstill. But one day, you wake up and consider it the norm rather than a quirky new invention, without ever realizing that your perception has changed.
One such step is when it gets easier and easier to hop on because the surrounding infrastructure has been built. At the beginning of the 20th century, when people bought cars, they were mostly a playtoy of the rich. Since there were no roads, the use was much more limited than it is today.
The roads of cryptocurrency are being built now. In 2007, you had to be very interested to get into Bitcoin. For the last few years ago, a little less so, as you can go on Coinbase and buy some, although it is still a little bit of a process that you need to understand. Yesterday, it got a little easier again. Now you can simply buy an ETF to get Bitcoin, and although it's not the real thing, it's better than nothing.
Many people are intrigued by cryptocurrency, but don't know enough about it or simply don't care enough to invest the time that it takes to buy some. Also, much reporting on cryptocurrency focuses on people losing all their money when investing in crypto, which may lead people to believe that this is evidence that there is something wrong with crypto in itself, which it is not, and stay away from it entirely. People get worried, don't know what to do, and then they stay away. It's now being opened up to every, which is a great thing.