Bitcoin Is Here To Stay

By Mawusi Adiamah on The CapitalDespite its highly volatile nature, bitcoin continues to attract a global following. 11 years on, bitcoin has gone from a humble underground experiment to one of the most significant financial and social innovations of our generation. Never before has the human race been able to freely store, send, and receive value from just about anyone around the world, at any time and without a third party or any government.The study of the Bitcoin blockchain and the bitcoin crypto-asset is multifaceted and intriguing. To be able to have an understanding of this crypto-asset, one will need to have an understanding of mathematics, encryption, monetary economics and policy, game theory, networking as well as adversarial thinking.The growth of bitcoin from under $0.10 in 2010 to $20,000 in 2017, with lows of $3,600 in 2018, and its current price of $8,100 shows volatility and growth. The next wave of bitcoin and decentralised blockchain-backed crypto-assets and network adoption will be led by the millennial and Gen X. Bitcoin is currently in its very early stages and over the next decades, the digital currency will develop through the ‘early majority’ stage. This stage will coincide with the transfer of intergenerational wealth from the silent generation to the millennial and Gen X across the US and Europe, meaning over $95T in traditional assets will be transferred to much younger and technologically savvy generation.Bitcoin Is Here To Stay was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Author: Mawusi Adiamah

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