{"id":242450,"date":"2022-06-10T18:30:45","date_gmt":"2022-06-10T17:30:45","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=242450"},"modified":"2022-06-11T00:35:56","modified_gmt":"2022-06-10T23:35:56","slug":"bitcoin-to-see-boom-in-adoption-break-10-level-by-2030","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-to-see-boom-in-adoption-break-10-level-by-2030\/","title":{"rendered":"Bitcoin to see boom in adoption, break 10% level by 2030"},"content":{"rendered":"<p>Bitcoin (<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a>) is at the very early stages of its adoption and data indicates that it will enter its exponential growth phase and break past 10% adoption in the year 2030, according to blockchain infrastructure and bitcoin mining company Blockware Solutions' user adoption <a href=\"https:\/\/static1.squarespace.com\/static\/5de588aa3e9c044c1ad8cb59\/t\/62a0cee064cb4b79ded25894\/1654705890141\/Bitcoin+User+Adoption+Report.pdf\">report<\/a>.<\/p>\n<p>The report compares Bitcoin's current adoption rate to other technologies' historical data and notes that, based on Bitcoin's short history and its current location on the expected adoption chart, the expected increase in adoption may come even faster than other historical examples.<\/p>\n<h2>The s-curve<\/h2>\n<p>An s-curve graph emerges when the historical adoption rates from disruptive technologies such as automobiles, landlines, tablets, cellular and smartphones, radio, electric, internet, and social media are summarized together.<\/p>\n<figure id=\"attachment_242461\" aria-describedby=\"caption-attachment-242461\" style=\"width: 529px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-242461 \" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/s-curve.png\" alt=\"\" width=\"529\" height=\"350\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/s-curve.png 466w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/s-curve-300x198.png 300w\" sizes=\"(max-width: 529px) 100vw, 529px\" \/><figcaption id=\"caption-attachment-242461\" class=\"wp-caption-text\">Adoption curve of disruptive technologies<\/figcaption><\/figure>\n<p>Innovators, who create the first 2.5 adoption rate are entrepreneurs looking for the next best investment. The early adopters, according to the report are:<\/p>\n<blockquote><p>&#8220;These are highly open-minded individuals who have direct or indirect connections with the innovators. Early adopters often face intense scrutiny and pushback from outsiders.&#8221;<\/p><\/blockquote>\n<p>The late majority stage is reached when the technology becomes mainstream and is used in everyday objects. The last 10%, Laggards, refer to those who have been reluctant, or in a position that made them unable to accept the new technology. When these individuals or entities also integrate the technology in question the S curve reaches its peak.<\/p>\n<p>Even though the stages of adoption rates are the same for all disruptive technologies, the speed of going through this cycle increases in time, the report also concludes. For example, it took landline technology 40 years to reach the late majority stage, while the internet did it in 10 years.<\/p>\n<h2>Where is Bitcoin?<\/h2>\n<p>In an effort to quantify the Bitcoin adoption rate properly, the report takes the number of new entities that ever appear in a transaction and their net growth into account.<\/p>\n<p>When it is compared to the global population, the report estimates the current Bitcoin adoption rate as 0.36%.<\/p>\n<figure id=\"attachment_242470\" aria-describedby=\"caption-attachment-242470\" style=\"width: 597px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-242470\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/btc-today.png\" alt=\"\" width=\"597\" height=\"326\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/btc-today.png 570w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/btc-today-300x164.png 300w\" sizes=\"(max-width: 597px) 100vw, 597px\" \/><figcaption id=\"caption-attachment-242470\" class=\"wp-caption-text\">Bitcoin's current adoption rate<\/figcaption><\/figure>\n<p>In terms of speed of adoption, the resulting chart appears as above. While staying relatively stagnant from 2009 to 2015, the adoption accelerates exponentially starting in 2016.<\/p>\n<figure id=\"attachment_242468\" aria-describedby=\"caption-attachment-242468\" style=\"width: 555px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-242468\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/we-re-here.png\" alt=\"\" width=\"555\" height=\"355\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/we-re-here.png 525w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/we-re-here-300x192.png 300w\" sizes=\"(max-width: 555px) 100vw, 555px\" \/><figcaption id=\"caption-attachment-242468\" class=\"wp-caption-text\">Bitcoin's current adoption rate<\/figcaption><\/figure>\n<p>The chart above appears when the current Bitcoin adoption rate is placed on Bitcoin's expected S-curve adoption chart. Although the report states that the current Bitcoin community behaves like the early adoption group, there are still four more phases to go for Bitcoin's global adoption.<\/p>\n<p>The report used a 10-year compounded annual growth rate (CAGR) of the unique users on the Bitcoin network &#8212; which it estimates to be 30.8 million &#8212; and then divided it by the expected global population in each year to convert the raw number of users to a percentage of the population, in order to forecast the growth period from the current state of adoption up to 10% adoption.<\/p>\n<p>Blockware states that it is using this CAGR up to the 10% threshold because data of past technology adoption curves is unavailable before they reach this approximate threshold.<\/p>\n<p>As adoption follows its estimated s-curve, Bitcoin supply will diminish due to the halvings in its code, the report states.<\/p>\n<figure id=\"attachment_242474\" aria-describedby=\"caption-attachment-242474\" style=\"width: 639px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-242474\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/supply.png\" alt=\"\" width=\"639\" height=\"382\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/supply.png 639w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/supply-300x179.png 300w\" sizes=\"(max-width: 639px) 100vw, 639px\" \/><figcaption id=\"caption-attachment-242474\" class=\"wp-caption-text\">Bitcoin supply and adoption chart<\/figcaption><\/figure>\n<p>As a result, while the adoption rate reaches the stage where Bitcoin becomes mainstream and is used in everyday life, its supply will reach its maximum level. The adoption rate, and therefore the demand will continue to increase in the upcoming years while the supply does not change.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) is at the very early stages of its adoption and data indicates that it will enter its exponential growth phase and break past 10% adoption in the year 2030, according to blockchain infrastructure and bitcoin mining company Blockware Solutions&#8217; user adoption report. The report compares Bitcoin&#8217;s current adoption rate to other technologies&#8217; historical [&hellip;]<\/p>\n","protected":false},"author":1262,"featured_media":242505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,120],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin to see boom in adoption, break 10% level by 2030<\/title>\n<meta name=\"description\" content=\"Blockware compares Bitcoin adoption to other technologies and concludes that BTC adoption has not yet reached its exponential growth phase.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/bitcoin-to-see-boom-in-adoption-break-10-level-by-2030\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin to see boom in adoption, break 10% level by 2030\" \/>\n<meta property=\"og:description\" content=\"Blockware compares Bitcoin adoption to other technologies and concludes that BTC adoption has not yet reached its exponential growth phase.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/bitcoin-to-see-boom-in-adoption-break-10-level-by-2030\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-10T17:30:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-10T23:35:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/bitcoin-adoption.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Zeynep Geylan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Zeynep Geylan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/bitcoin-to-see-boom-in-adoption-break-10-level-by-2030\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/bitcoin-to-see-boom-in-adoption-break-10-level-by-2030\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#person\",\"name\":\"Zeynep Geylan\",\"url\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"caption\":\"Zeynep Geylan\"},\"jobTitle\":\"Journalist\",\"description\":\"Zeynep is an academic who turned to crypto in 2018. 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Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power. Research and writing are her favorite things in life, followed by dogs and burgers.","url":"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/242450"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/1262"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=242450"}],"version-history":[{"count":15,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/242450\/revisions"}],"predecessor-version":[{"id":242570,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/242450\/revisions\/242570"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media\/242505"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=242450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=242450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=242450"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=242450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}