Tuesday, November 17, 2015

Where Bitcoin - Global Bitcoin Adoption

Current Price Floor (21/11/2015) : $320

The importance of understanding the price floor is to help with investment into the bitcoin space.


Bitcoin price is underpined by it's adoption.
A : Initially 2009 - 2010 it was only the developers like Satoshi where it did not have any value.
B : 2010 - 2011 a small community developed and value was established over forums price of bitcoin was less than a dollar.
C : 2011 - 2012 Mt Gox the first exchange established and the community grew around libetarians and anarchist. Price increased to a few dollars.
D : 2012 - 2013 Silk Road was a unique use case for bitcoin and value exploded to around $30
E : 2013 - Nov 2014 New users and speculators started coming into the space. Mining exploded in popularity and the mining arms race was on. Price increased to around $200.
F : 2014 - July 2015 Bitcoin price went to $1200 but I believe that this was pure speculation and due to events around Mt Gox and should be discounted. Price floor should reasonably be around $230.
G : July 2015 - Nov 2015 MMM Ponzi scheme took off in East Asia new price floor of $300

Awaiting more use case for bitcoin to bring in more users and adopters, which will establish higher price floor for bitcoin.

Bitcoin Embassies Around The World

Physical Businesses Accepting Bitcoins

Infographic of the Bitcoin Ecosystem

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