When and how did YOU get involved!? It will give you some pointers to most common turning points in bitcoin.
For 99% of the people here, it was insane ROI and value hype that got them(us) involved, and only later comes a realization of just how great potential this technology has.
Black market played(and somewhat still is playing) also a large role spreading the word.
Topic: What was the turning point? (Read 1492 times)
The turning points were definitely the price increases and the exchanges fiascos. The negative events are the ones with bigger repercussions, and the ones that are brought to people. Also the ones people care about, really... That's how many people know Bitcoin.
Not a specific even that I can remember. But it is related to a snowball effect, more people now about it and use, they get more new people in it and so on.
I would say that real turning point is still has to come. This is primary stage of popularity in which we are watching announcements of adoption by different multinational business companies.A common man still does not know well about Bitcoin. Bitcoin is to be explored by millions then this will reach to its real value and right place.
Originally valued by traders at less than $1, in 2013, its popularity began rising, along with its value.
As more people became interested in acquiring Bitcoins, demand overwhelmed supply.
By April 2013, 1 Bitcoin was valued as high as $230 USD.
The real turning point came in November 2013, within a month, the price shot up (and peaked) at $1230 per Bitcoin.
The Bitcoin craze had begun.
As more people became interested in acquiring Bitcoins, demand overwhelmed supply.
By April 2013, 1 Bitcoin was valued as high as $230 USD.
The real turning point came in November 2013, within a month, the price shot up (and peaked) at $1230 per Bitcoin.
The Bitcoin craze had begun.
Is there any one event which made Bitcoin reach a wider audience? There was probably a time when only crypto enthusiasts were aware of it - what caused the non-enthusiasts to take interest?
In the area where I live most people in the general public relate bitcoin to crime. Most of the bitcoin news in the major media relates to cyber crime, exchange fraud, silk road trial, etc., etc. So yes, there is attention from non-enthusiasts but it's generally a negative impression.
To make matters worse, try to logically explain to your dear neighbor why he should run out and buy bitcoin so he can make purchases with it. When he asks why he should take the additional step of buying bitcoins so he can then buy something that he could have bought anyway without the additional step, tell him because it's fun and easy.
definitely china's interest in bitcoin and the spike to +$1000 these happening got a lot news coverage here at that time. nowadays there isn't really worthy news being covered regarding bitcoin.
The day the Chinese start paying attention and use it to laundry money out of their country.
Well few events I can think of was the price increase and also the massive price spike due to many problems that happened over the last few years starting from mtgox falling apart from raids and other exchanges getting closed down or business cashing out. wonder where the bottom price is going to be as it goes up then levels then tanks back down again so am guessing some people are holding prices down and do not want it to go up right now.
Is there any one event which made Bitcoin reach a wider audience? There was probably a time when only crypto enthusiasts were aware of it - what caused the non-enthusiasts to take interest?
The day Silk Road makes bitcoin worth something.
Is there any one event which made Bitcoin reach a wider audience?
empty bank account.
convert to bitcoin.
wide audience.
simple ... like gold.
Is there any one event which made Bitcoin reach a wider audience? There was probably a time when only crypto enthusiasts were aware of it - what caused the non-enthusiasts to take interest?
I think when mass media started reported on bitcoin or slightly before that. There have been several big news items on bitcoin. We could say that this time is in the future because some big things will happen in bitcoin space.
The first ASICs were shipped out from Avalon in early 2013, and that was one crazy year. Could it be that making mining easier with just a USB plugin led to a wider adoption and the huge price increase? Also I absolutely believed that SR had a big influence on adoption.
Would the setting up of Silk Road be such an event?
The target audience of SR would definitely not have been just crypto enthusiasts.
Further down the line, media coverage would have increased awareness about Bitcoin.
The target audience of SR would definitely not have been just crypto enthusiasts.
Further down the line, media coverage would have increased awareness about Bitcoin.
I know for me it was, when I was searching for a more secure payment method. I got sick of credit card fraud with online payments.
I just watched a documentary on TV, where the US Customs confiscated a box with 2000 blank credit cards. It is VERY easy for people to duplicate credit/debit cards and it's growing to epidemic proportions online.
I think, when people become victims of online fraud, they will start to look elsewhere and they will find Bitcoin too.
I just watched a documentary on TV, where the US Customs confiscated a box with 2000 blank credit cards. It is VERY easy for people to duplicate credit/debit cards and it's growing to epidemic proportions online.
I think, when people become victims of online fraud, they will start to look elsewhere and they will find Bitcoin too.
Is there any one event which made Bitcoin reach a wider audience? There was probably a time when only crypto enthusiasts were aware of it - what caused the non-enthusiasts to take interest?
In the area where I live most people in the general public relate bitcoin to crime. Most of the bitcoin news in the major media relates to cyber crime, exchange fraud, silk road trial, etc., etc. So yes, there is attention from non-enthusiasts but it's generally a negative impression.
To make matters worse, try to logically explain to your dear neighbor why he should run out and buy bitcoin so he can make purchases with it. When he asks why he should take the additional step of buying bitcoins so he can then buy something that he could have bought anyway without the additional step, tell him because it's fun and easy.
I don't think it has actually reached any wider audience, there are still places where even country-wise, people can't sell their Bitcoins locally because there are just 10-15 buyers and they just try to break the price of BTC to 10-20% by taking advantage of limited numbers. Unless Bitcoin becomes mainstream, we should not consider it to be an exposed market.
I would say the price spike in December 2013 is what sparked the interest of many of the newcomers.
I don't think many people knew about it before then
I don't think many people knew about it before then
^^^^^
+1
I think I wil agree with this
Nah, the spike didn't happen in Dec. 2013, but on November 2013 (29th of November 2013 to be exact)
http://blogs.marketwatch.com/thetell/2013/11/29/bitcoin-hits-record-1242-as-it-nears-value-of-ounce-of-gold/
The ath could probably caused massive interest from the general public, probably due to the amount of bitcoin per US Dollar. Also, the different news about bitcoin probably raised awareness from the masses, too.
Is there any one event which made Bitcoin reach a wider audience? There was probably a time when only crypto enthusiasts were aware of it - what caused the non-enthusiasts to take interest?
Economic problems will help the use of Bitcoin and I think it will take a decade for large number of user to feel confortable using Bitcoin.
probably in the 2011, where the price jumped x25 if i recall correctly, and also the advent of the gpu mining, after the first software released by artfroz
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