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RE: Bitcoin beats one of main competitors in Market Cap - Paypal.
In the UK only one person I know has actually heard of Bitcoin and the others who haven't I've tried to educate them on the subject. I then realise I need to be educated further on the subject myself to stop the head hurt. I feel the spread of Bitcoin has been through word of mouth and has grown organically, imagine if it was marketed like PayPal or some of the other financial institutions.
I should point out that Word of Mouth and referrals is what helped PayPal get 7 to 10% daily growth during the early days of Paypal.
In Elon Musk's own words "Yeah. Well, we started off first by offering people $20 if they opened an account. And $20 if they referred anyone. And then we dropped it to $10. And we dropped it to $5. As the network got bigger and bigger, the value of the network itself exceeded any sort of carrot that we could offer."
I think cryptocurrencies also should follow a similar strategy until they get enough visibility and adoption. We can't say this for Bitcoin and Ether likes. But at-least the new coins which are failing due to lack of marketing and their anonymity could try this.
Not to forget that for some time it was mandatory for traders on Ebay to offer Paypal as a payment option. Paypal wouldn't be where it's at, if a behemoth like Ebay had not thrown its weight into the scale.
right on