Over the past seven years we’ve seen the meteoric rise of Bitcoin (BTC). Certainly BTC has some maturing yet to do, if it’s to compete head to head with established markets such the Nasdaq. But are the major trends in other markets correlated at all with those of Bitcoin?
How many people are currently using Bitcoin? How fast is the Bitcoin network growing relative to other revolutionary technologies and top tech companies? Is Bitcoin a bubble? Is BTC overvalued or undervalued? Is Bitcoin dead? Or will it someday take over entire industries? Does Bitcoin have the potential to someday become integral to global finance, commerce and society? If so, when?
In brief, hypershitcoinization is a meme; and as with most memes, it has a long and convoluted history—one of which I’ll attempt to explain here. To fully understand the origins of term, a brief overview of fundamental economic forces, concepts, relevant examples, and memes is in order.