Everyone is ahead of Bitcoin

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I know people who see the price of bitcoin and say to themselves, “Damn, I missed it. I’m late. ”For this reason, they are drawn to the cheapest coins, altcoins, which ultimately will have no value in the long run. They believe that coins that trade below a dollar are going to go sort of become the “next bitcoin.” The problem here is that there is no “next bitcoin.” Bitcoin was, and is, a historic accident, much like the discovery of fire by our ancestors. context, let’s talk about the Internet at the beginning.

In the early 1990s, only a small number of people had access to items such as emails and forums. Back then, the internet was a quirk. Few people knew where it was going. Few people could have imagined social media, social media, the iPhone, online conferencing and the move to e-commerce, and especially Amazon, which would be founded in 1994 as a bookstore. I think this is where we are at with Bitcoin. We are still very, very early. Particularly because so many people are unaware of all the developments that are happening and what is being built on Bitcoin as we speak.

A project built on top of the Bitcoin blockchain is what’s called a Layer 2 solution – the Lightning Network, which now has over 14,000 nodes and 68,300 payment channels spanning six continents (sorry, Antarctica ). And then come the Layer 3 solutions, the decentralized apps that are built on top of the Lightning network. The goal is to create a new peer-to-peer Internet. One that is not subject to Big Tech’s control and censorship. In this way, he realizes the original ethics of the Internet.

Using the infrastructure being built by companies like Impervious, we see the first glimpse of projects that will allow people to make calls to Lightning nodes and monetize any service without a bank account at the Lightning help.

We are witnessing the early stages of an evolution. We don’t know where it’s going yet. Bitcoin’s Layer 1, the settlement layer, has proven to be the best store of value, with nation states adopting it as legal tender and relinquishing the global hegemony of the US dollar. The Lightning Network has proven to be the best medium. And now we have the emergence of Layer 3, decentralized applications. The companies of the future will be built there. This makes bitcoin all the more rare for the features it offers.

In terms of adoption, Bitcoin has roughly the same number of users as the internet in 1997. However, Bitcoin is growing at a faster rate. If this continues, we could very well have over a billion users in the next four years.

Bitcoin Adoption Rate Over Time: Source

The overnight price movement of a single bitcoin is just noise. It doesn’t matter what price you buy at. You don’t have to take my word for it. There are spreads of smarter and richer individuals and groups than me who see current prices as a blip. Using PlanB’s “Stock-to-Flow” model, we are consistently on track to reach $ 1,000,000 per part. Worrying about where we are trading now is like worrying about the stock price of Amazon or Apple in the late 2000s. We’re just getting started. The Lightning Network is still going strong.

These are very exciting times. I have the privilege of having lived and seen the dawn of the modern internet and its evolution to the present day. With Bitcoin, it is not too late, we still have the opportunity to participate in its evolution.

This is a guest article by Paul Opoku. The opinions expressed are entirely theirs and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.

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