No - You Aren't "Too Late to the Party" When It Comes to Crypto - And Here's Why!

No - You Aren't "Too Late to the Party" When It Comes to Crypto - And Here's Why!

By Wantandable | PassiveIncome | 12 Jun 2020


Cryptocurrency is a revolutionary technology! And if you've got into the space since 2017 you've probably spent some time wondering if you missed the boat. Even those of us who are in it for the fun technology and to experiment and be at the forefront of something, we all still want to see that "moon" again.

Well I'm here to give you some perspective. Every once in a while it's good to take a step back and really look at where we are in the grand scheme of crypto-adoption. Be it the technology as a currency or other purposes. To gain this perspective we are going to take a look at technology that has already been here and done that.

You're probably thinking, "But Bitcoin is SO REVOLUTIONARY, this type of thing hasn't happened before!" Well you're wrong. Revolutionary technology has happened many times before and will happen many again and crypto is just one in a long line. Be it the automobile, or the internet there is always a period where people find the new tech to be ridiculous! It couldn't possibly take be successful!

Heck there was a time where in Britain it was required to have 3 persons to operate a motor vehicle. That's one person to drive, another person to be the "engineer," essentially monitoring the driver and the mechanical operation of the vehicle. And a third person to run 100 yards ahead with a red flag, announcing the approaching vehicle and making sure everyone moved out of the way of the speeding death machine. Which was going a blazing 6 miles per hour!

But over the next 150 years cars became an absolutely necessary part of most peoples day to day lives. And the same thing will happen with crypto. What we're waiting for is a very slow process and I don't blame you for being impatient. It's called an Infrastructure Inversion, and it takes decades.

A really easy to understand example of infrastructure inversion is telephones and the internet, and it's one many people have experienced in their lifetime. The internet is amazing, but at first it was extremely limited. The internet needed was meant to send information from one person to another and the only way it could do this on any substantial scale was over telephone lines. And telephone lines weren't made for the the kind of information the internet was trying to send. They were designed to carry voice and that is a relatively small amount of information. And the internet came on the scene trying to shove as much information through them as possible, but the room wasn't there! Telephone was two things to the internet, the reason it was successful and the thing that held it back. I remember when images would load top down because it took so long. That's unheard of nowadays! And it was because of those DAMN telephone lines.

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Then people would say "Look at how slow this internet thing is! I TOLD you it wouldn't take off!" And slowly over time they started building internet focused infrastructure until the internet was the primary reason for new infrastructure. It didn't happen overnight, and most people didn't even realize as it was happening around them, but it did. Now when you pick up your phone to make a call, that call is happening over lines that are for the internet.

There used to be background noise when you made a phone call, kind of like a static hum in the background that was ever present. And when phone calls started happening over these internet lines that sound disappeared because the technology had gotten better. Because people didn't hear that background noise they believed that the phone had accidentally hung up and would get confused! So telephone providers began adding in the background hum so that people wouldn't be confused.

Over decades we went from the internet being used on top of old technology, all the way to the old technology being simulated over the new! And that my friends was an infrastructure inversion. And this exact same principle is happening every day with cryptocurrency.

Currently when we want to but crypto most of us go straight to an exchange. Centralized exchanges live Coinbase, and Binance! This is our new technology being laid on top of an old technology! Exchanges are forced upon us because of our need to interact with our old banking systems. And they simulate those systems to ease us into new technology and keep it usable in the current world.

So what does crypto look like 20 years from now? The infrastructure inversion should give us somewhat of an idea. We would except that instead of our crypto being forced to interact with banking systems things are the other way around. Eventually there will be wallets that mask themselves to look like old-school banking applications so that most people are capable of using them. They will split your assets into Checking, and Savings accounts etc.

At some point we will be using smart contracts to interact with content streaming services, asset ownership like stocks or real estate, or even for voting! But rest assured the biggest thing is that all of these will be integrated with user interfaces that will make them look similar to our current systems we are already using. And that's because it's the only way the majority will be able to handle it. Infrastructure Inversion is coming. Don't get impatient! You're not "too late to the party." Most people don't know a party is even on the calendar and will be at the party for years before noticing it happened. You're still the loser who showed up early.

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PassiveIncome
PassiveIncome

PassiveIncome is a blog for the lazy. I highlight methods of making money that are set-and-forget. Everyone wants to make money with as little effort as possible right? Its the dream. Some of the methods I will highlight will make you an extra penny a day, others can be pushed to the limit and can potentially provide you enough to live off of! But each method is one lazy step closer to relaxing on a beach somewhere.

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