RE: Willy Woo: Adoption Growing at Hyberbolic Rate – Half the World Set to Use Crypto in 7 Years
Willy Woo states that in 7 years half the world will use cryptocurrency – and I don’t think that’s an extreme view by any means as once it takes off, it is going to take off and big time
Bitcoin (BTC) Adoption Growing at Hyberbolic Rate, Half the World Set to Use Crypto in 7 Years: Willy Woo
“Human nature is one that looks at things in a linear stance. So we’re not very good at looking at exponential growth, which is obviously what Bitcoin is doing. The equivalent question is, the internet was invented in the 1960’s. [Say it’s] 1994 now – why don’t we have mass adoption? The thing is, it was growing at a very hyperbolic rate.
If you were to look at where we are on the adoption curve, 1% of the world population is holding this asset class, and if you look at the rate at which that’s growing, which is 2x every year, there’s kind of a Moore’s Law of adoption happening right now. It’s 4x in a bull market.
If you run those numbers, we’re going to have half the world using this stuff within seven years. So when you say, ‘Why don’t we have mass adoption?’ Well, it’s happening now. And by the time we hit like 5%, 15%, it’ll be a year or two away before it’s there. So I’d look at the model of the internet and what happened by the time we hit the 2000s.”