What Happens if Bitcoin Goes Mainstream?

Over the last few years, two new investment opportunities of note have come online.

Both have the potential to rise in value more than anything else available to the general public… in history.

The first is private startup equity (equity crowdfunding). This gives everyone the chance to invest very early in companies that are small enough to grow 100 times – or more.

The second is digital currencies (bitcoin and others). And that’s what we’re going to talk about today.

Specifically, we’re going to explore what would happen if bitcoin went mainstream.

As is the case with most new disruptive technologies, the world’s never seen anything quite like crypto. There’s still quite a bit of skepticism to overcome.

Bitcoin is still in the very early adopter phase, which means it still has quite a ways to go, assuming we’re headed for mainstream adoption.

To get an idea of what “going mainstream” looks like, here’s a chart showing the rate at which consumers adopted various new technologies.

You’ll notice that each curve is roughly S-shaped, and that over time, adoption grows faster. For example, it took around 35 years for the refrigerator to reach complete adoption, while it only took around 15 years for the cellphone.

With bitcoin and cryptocurrencies, we’re in the first inning. Perhaps 1% of Americans own any at all. Crypto adoption today is where cellphone adoption was in 1992.

Cryptocurrencies are high-risk, high-reward assets. As such, they should make up only a small percentage of your overall portfolio.

It’s not a sure thing it’ll hit mainstream adoption. But it’s looking more likely every day.

Because as more people make money off bitcoin, more of their friends hear about it. More people get interested and eventually become comfortable enough to invest.

This is bitcoin’s secret to viral organic adoption. And unless a black swan event happens, it will continue doing its thing.

Let’s say 1% of Americans own bitcoin today – roughly 3 million people. How will the price look as the other 318 million buy?

And let’s not forget that bitcoin is huge in Asia, Europe and South America. And it’s getting more popular in Africa too.

There are only 21 million bitcoins that can exist. Fifteen million already exist today, and the rest will be mined over the coming decades.

It’s not a lot of coins to go around, is it?

Each coin costs around $2,600 today. If bitcoin goes mainstream, the price will go orders of magnitude higher.

The volatility will be extreme at times. But progress marches on. Every day it gets easier and safer to buy bitcoin, and consumers have more options to choose from.

So if you think you’ve missed out on bitcoin, look a little further into the future.

Editor’s note: Watch for an announcement in the coming weeks. We have a complete crypto research package coming out. It will show you which currencies I’m most bullish on and will explain everything you need to do to get started (and to keep your coins safe).

Have a great weekend, everyone.

Adam SharpFounder, Early Investing

CoinJar is the Aussie enterprise bringing Bitcoin into the everyday realm

Although Bitcoin is one of the most widespread Internet currencies, it can seem intangible compared to EFTPOS or cash.

CoinJar is a Bitcoin platform based in Melbourne which offers users a seamless way to pay for anything with digital currency. Making use of an EFTPOS card means that CoinJar isn’t only for online purchases, but can give consumers more choice about their daily purchases.

With the core intention of transforming the way money flows within and between communities, CoinJar is used by more than 150,000 customers worldwide. Techly spoke to Asher Tan, the co-founder and CEO of CoinJar, about what makes the Aussie Bitcoin biz tick.

Explain what CoinJar does, and why young Aussies should take notice.

CoinJar is a digital currency account that allows you to sell, buy, and transact in Bitcoin. We have features such as a Bitcoin-enabled debit card that makes holding even a small amount of digital currency useful.

Young Australians who spend a lot of time online will see the inherent value of digital currency both as a form of payment and store of value that is borderless and decentralised – just like the internet.

How did CoinJar start?

CoinJar started as an idea in Melbourne-based accelerator program Angelcube (now Slingshot). In our first three months, the team worked through various iterations of a consumer Bitcoin platform which then became CoinJar.

What’s been the most challenging & most rewarding aspect of running an innovative business in Australia? The challenges are numerous and I would likely fill several tomes if I listed down every hurdle we’ve faced.

On the flipside, the Australian technology sector is still in its formative stages and the spirit of collaboration to build an ecosystem (incubators, investors, start-ups, mentors) really resonates. The idea that we are all in this together is also encouraging especially when facing challenges.

What’s the most exciting new technology you’d like to incorporate into your day-to-day? Improvements to battery technology would make a noticeable change to my everyday life. While longer standby times for my mobile phone and laptop are obvious examples, there are also more subtle benefits when advancements to batteries are used on an industrial level.

A great example is lithium ion batteries which are being used in the proposed South Australian battery array to provide stability for the power grid.

What’s the best customer feedback you’ve received? The best bits of feedback come from users who have been with us the longest. Seeing our first 50 users (CoinJar has >150,000 now) still providing suggestions four years later lets us know that we have been doing something right. Hopefully, they have seen us take action on feedback, and will continue the dialogue with us to make CoinJar a great service.