Where are we right now, shortly before the #Bitcoin halvening is happening?
I was watching a video on this matter by "Altcoin Daily"
(Channel link: https://www.youtube.com/channel/UCbLhGKVY-bJPcawebgtNfbw).
Here he showed parts of a panel discussion from the "Unconfiscatable conference" a few days ago.
Peter McCormack pointed out that his observation is, wherever he goes, for instance when he's meeting people and they ask what he does he answeres "I make a Bitcoin podcast" he never hears "What is Bitcoin".
Highly subjective but I bet you, being here on #Steem, you surely made comparable experiences out in the wild, right?
I can absolutely second what Peter says! When this comes up with friends or family everybody, even my 80 year old mother in law, has heard of Bitcoin.
Of course many "normies" still associate crypto with "shady" stuff like buying drugs or drug lords moving money with Bitcoin - to that extent the anti Bitcoin propaganda works fine it seems - but everybody pretty much has heard of it.
The number of Bitcoin wallets picked up on seems to confirm the growth in Bitcoin holders also.
So we can roughly estimate that the number of Bitcoin holders doubles every year.
I've heard people talking about the "Moore's law of Bitcoin", Hahaha!
https://en.wikipedia.org/wiki/Moore%27s_law
Ok, so based on these numbers we roughly gain about 10-13 million bitcoin wallet users per year. Based on this - and I'm aware that this is a little fuzzy because one user can of course have multiple wallets and so on - it'll be a while until we reach 50% of all people using #Bitcoin.
But nonetheless, it seems it wouldn't take much to get #Bitcoin much more traction.
Imho to get through to normie world would need an entry into #Bitcoin that is even more easy as it is right now already.
The existing on ramps, not to the liking of the purists, like coinbase and others have made progress in the last years to make it really easy to get into #Bitcoin and other crypto's.
Given that you don't take offense regarding things like kyc (know your customer) and other privacy shredding consequences like exchanges "talking" to your tax officials and so on.
The situation right now could be special though!
#Bitcoin doing what #Bitcoin does... slipping below 9k as part of the normal price action or is #Bitcoin possibly doing it alike most stock indices that feel the fear of the world economy cooling down significantly due to the big "corona scare".
There are first voices heard in the media that we are at the beginning or even in the middle of a pandemic.
Pushed by these events the "crypto as a safe haven in global crisis" theses will possibly be put to the test in the coming days/weeks.
Tbh I have never been a big believer in this thesis. When things in the real world" get ugly what makes people think that any crypto asset would do good in such conditions?
Nonetheless, no matter how the next events unfold, I'll be doing what I am doing for years ever since I stopped playing around with trading! The simple stuff! Weekly DCA (dollar cost averaging) into #Bitcoin.
I guess if there's a real risk that even official currencies could take a beating the only things that would be of value in such a situation will be for instance precious metals.
But beyond this recent anomaly, what do you think how #Bitcoin price will react to the halving being so close and the overall trend of more users coming into crypto and #Bitcoin?
Let me know what you think down in the comments!
Cheers!
Lucky