This is a guest post by Jim Harper and the opinions reflected
are those of the author.
If triumphalism drove adoption, Bitcoin use would already be
widespread, and its price against other currencies would be
stratospheric. But the existence of a genius protocol does not
guarantee its success. For Bitcoin to thrive, there must be a
great deal of social and economic change. To foster such change,
the Bitcoin ecosystem needs better and more mature
communications. It’s a deficit that is costing the Bitcoin
ecosystem in lost potential each day it persists.
Bitcoin and the blockchain are brilliant and fascinating
technologies. But Bitcoin’s social capital needs are manifold. To
deliver on its promises of global financial inclusion,
user-defined privacy, enhanced liberty and a stable money supply
for all the world’s people, the Bitcoin ecosystem needs a larger
and more sophisticated community of software and protocol
developers, greater assurance against mining centralization, and
a thriving community of node operators. The embrace of the
financial services community would speed adoption.