2. Trends: headwinds and tailwinds
2.1. Name at least one trend that significantly increases Bitcoin's chances for success.
2.2. Name at least one trend that significantly decreases Bitcoin's chances for success.
3. Name major technology innovations that power trends positive for Bitcoin.
Examples of trend categories:
- Business
- Technology
- Science
- Finance
- Demographics
- Social
- Market
- Regulatory
etc...
tags: stanford, bus134, quiz, innovation, trends, bitcoin
2 comments:
1.) a) There is conflict between two parties. The organisations/individuals who utilize the technology for commercial activity, and the individuals that designed/created/developed the technology.
b) The ability of the technology to stay active/functioning - despite extremely unfavorable circumstances.
c) Key investors remain optimistic on Bitcoin's future. (Don't all investors say that about their investments though?)
2.) Headwind) The Probability of a Bitcoin collapse due to level of conflict taking place.
Tailwind) Potential to be faster and cheaper for commerce.
2.1) A low chance of collapse. Has showed a basic level of sustainability. (Slightly contradicting myself).
2.)2) limiting the use of the technology to end users. (limiting the number of transactions that could be processed by the network every 10 minutes).
3.) a) eCommerce (Amazon)
b) Online market places (example - Airbnb, Uber, ebay)
c) Pharmacy (Bought via Bitcoin to avoid taxes (VAT) possibly? Not sure if that would actually work)
d) Air travel (Bought via Bitcoin to reduce the costs that are incurred by HR staffing/operations related to the processing and accounting of different global currencies after a customer has paid.)
1. Trends
- Number of companies that have financial interest in Bitcoin business is increasing
- Number of transactions in Bitcoin is increasing, that affect existing players in the market
- Rules in Bitcoin community are not final and will continue to evolve. Rules may change significantly
- Transparency level is decreasing in Bitcoin community
2.1. Increase chances of success
- Growing number of parties that have financial interest in Bitcoin business significantly. These companies are dependent on Bitcoin success and put effort to increase chances of success.
- Growing number of transactions and volume in Bitcoin currency. This will allow to increase market share compare to regular currency.
2.2. Decrease chances of success
- Government regulations. Unclear what kind of limitations each country will have for Bitcoin
- Community crisis: changing rules and forking of Bitcoin currency
- Volatility of Bitcoin currency
3. Power trends
- Increasing number of financial companies that invest in blockchain technology
- Increasing number of merchants that accept bitcoin
- Bitcoin-friendly legislation (directly or indirectly)
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