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The prevailing practice of quantitative easing has caused concerns in the confidence of current money inflation in the likes of Warren Buffett, as interviewed by Evans-Pritchard (2013) in The Telegraph.
Rifkind of The Spectator (2013) writes that the impetus behind Bitcoin is that “it removes the need for trust in currency; trust in bankers, trust in governments”.
In this digital age where we are able to create value online, together with the current sentiment of placing more trust on ‘a person like yourself ’to reciprocate said value “Bitcoin suddenly start[s] to make more sense”.
“As a company whose business proposition has gone from kind of weird to utterly commonplace in the space of a few years, has always been comfortable with novelty.
Now it’s embracing a new technology that strikes a lot of people as too futuristic for comfort: Bitcoin” mirrors the taboo of online dating a few years ago with the current status of Bitcoin.
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Market strategy and positioning and an enticing customer proposition are required to ensure that Bitcoin companies correctly navigate the Chasm to push Bitcoin towards majority adoption.