GetBittr on Nostr: YOU ARE NOT BULLISH ENOUGH!🐂 Ever heard of Amara's Law?! Let me show you how it ...
YOU ARE NOT BULLISH ENOUGH!🐂
Ever heard of Amara's Law?!
Let me show you how it relates to Bitcoin.
We naturally get excited about new technologies - so far, so good.
But here’s where it gets interesting: Our expectations often get ahead of reality. According to Amara's Law, we overestimate the impact of new technology in the short term and underestimate it in the long run.
This happens because we tend to think in a linear way. But technology adoption usually comes in waves, more like an S-curve.🌊
And oh boy, do we see this play out with Bitcoin all the time!
Short-term Overestimations:
"It can make you rich fast."
"Bitcoin will replace fiat currencies by next year."
"Invest in Bitcoin now and double your money in a month!"
Long-term Underestimations:
"Bitcoin is dead; it can’t survive the next bear market."
"Bitcoin is just a bubble; it will pop and be forgotten."
"Governments will shut Bitcoin down once it gets too big."
"We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run."
— Roy Amara
🔥Once again, this confirms the good old saying: "Bitcoin is for the long term."
We’re still early.
Ever heard of Amara's Law?!
Let me show you how it relates to Bitcoin.
We naturally get excited about new technologies - so far, so good.
But here’s where it gets interesting: Our expectations often get ahead of reality. According to Amara's Law, we overestimate the impact of new technology in the short term and underestimate it in the long run.
This happens because we tend to think in a linear way. But technology adoption usually comes in waves, more like an S-curve.🌊
And oh boy, do we see this play out with Bitcoin all the time!
Short-term Overestimations:
"It can make you rich fast."
"Bitcoin will replace fiat currencies by next year."
"Invest in Bitcoin now and double your money in a month!"
Long-term Underestimations:
"Bitcoin is dead; it can’t survive the next bear market."
"Bitcoin is just a bubble; it will pop and be forgotten."
"Governments will shut Bitcoin down once it gets too big."
"We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run."
— Roy Amara
🔥Once again, this confirms the good old saying: "Bitcoin is for the long term."
We’re still early.