Bitcoin on it's way to mainstream

Takeaways from Bitcoin2014

— Location of the Bitcoin2014 conference in Amsterdam

Bitcoin2014 was a great conference with all of the key bitcoin companies and individuals attending. We like to share some of our highlights here.

We are all still early adopters

Anybody owning bitcoins today is still an early adopter. The number of bitcoin users is estimated to be about 2-3M users worldwide, which is far from being mass-market. Venture capital investors in one panel expected the number of users to increase ten fold by next year, which would represent a lot of opportunity for growth in the bitcoin price.

Is bitcoin the internet of 1994 or the Segway of 2014?

— Introduced in 2001, Segways never got mainstream (Source: flickr)

Gavin Andreesen, one of the bitcoin core developers and now Chief Scientist of the Bitcoin Foundation, addressed one key topic in his keynote speech: Is bitcoin something like the internet in 1994, with technology still in his infancy, but something which will evolve to global ubiquitous use? Or is bitcoin something like the Segway, which is used by some (mainly police officers and tourists), but is far from mainstream adoption? Of course nobody knows, but Gavin was confident that it is looking to be more like the internet and less like a Segway every year. He predicted that bitcoin will be much better looking next year, but was not so sure if price volatility would come down.

If you are interested, you can listen to his speech here:

Future in blockchain apps

One of the key trends in the still young bitcoin industry will be companies build on top of the blockchain. A blog post is not enough to elaborate on this topic, but blockchain solutions may introduce smart contracts, distributed exchanges, or distributed file systems by projects like Mastercoin, Ethereum, or Maidsafe. It will be interesting to see what people all over the world are building!

Overall, it was an exciting event, and we are already looking forward to Bitcoin2015. It is supposed to be hosted in Asia - this is the way it should be for a truely global currency!

By Dolf Diederichsen (Google+)
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