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The Technology Hype Cycle

by Johnny Cash on December 22, 2017

The Technology Hype Cycle


Hello everyone,

The price of Bitcoin is down by 30% to 40% since just yesterday.

I have been waiting for that to happen -- before investing time into the discussion we need to have today.

           (For those of you just joining us, you can read about the empowr coin launch here)

 

Here’s what’s happening with Bitcoin -- and what will happen:

Blockchain and cryptocurrencies are progressing through the standard Technology Hype Cycle (read Wikipedia article):

The Technology Hype Cycle    

GRAPH 1

The Technology Hype Cycle

It is what happens to virtually all new technologies.

 

Here’s how it works:

At first, as more and more people become aware of the new technology, it starts to rise in popularity:

GRAPH 2

The Technology Hype Cycle    

The Technology Hype Cycle

The media capitalizes on the excitement, helping to further build excitement for the technology’s future.

Then, as the excitement level exceeds reality about the technology’s current capability – it reaches the peak of inflated expectations:

GRAPH 3

The Technology Hype Cycle    

The Technology Hype Cycle

That is where, as the name suggests, expectations are inflated beyond the capacity of the technology to deliver value.

In the case of Bitcoin and other coins, consider that:

1.  A currency’s purpose is to buy and sell things.

How many places can you shop at, with your Bitcoin? Virtually none.

 

2.  Blockchain, as a technology, has serious issues that have not been resolved. Without boring you with technical details, in its current form, it will not scale. That means it’s getting harder and harder for the Bitcoin platform to handle transactions.

And it will come to a halt unless there are some serious changes to how it works technically, which will be very difficult to implement, given that there is no company or focused group in control of it.

 

3.  There are other new approaches that solve the problems that Bitcoin has.

Just yesterday community member Jeannette pointed out how a new approach, called HashGraph, is massively more scaleable than Blockchain -- meaning that it solves the largest problems with blockchain.

But it is totally different from Blockchain and is not a solution for Bitcoin.

Will HashGraph win? Or will it be any of 10 other interesting approaches?

Who knows! What matters is that the technical part is just one consideration. There are many other considerations, such as:

1.  How can the coin be used? Are there a massive number of products and services that can be purchased with the coin?

2.  Is there a company behind it – working to remove roadblocks in front of it, whenever they appear?

3.  Is there a community that’s working to get it adopted – beyond a bunch of people that are just buying it in the hopes that its price will go up, so they can sell it for a quick profit?

Here’s the issue:

To make big things happen, it requires a massive amount of coordinated effort and work.

And that takes time.

Taking time means there’s no Get Rich Quick possibility.

So, as reality catches up with the technology – as it becomes clear that those things (1, 2 and 3 above) do not exist yet -- the crash begins:

GRAPH 4

The Technology Hype Cycle

 

During the crash, the media once again capitalizes on the opportunity, and everyone rushes to sell.

Some people will lose their life savings, friends, family and even their lives. It’s very sad.

After the crash, we enter the “trough of disillusionment” phase:

GRAPH 5The Technology Hype Cycle

The Technology Hype Cycle 

During the trough (valley) period, everything associated with the technology (in this case, “coins”) becomes equated with garbage.

Just say the word “coin” and you’ll be looked at like you’re an idiot.

Just like the peak, the trough is also exaggerated.

 

The winners

So, if all technologies go through this process, who are the winners?

The winners are those people that can see through all of this…

… because – from the very beginning -- they were knowledgeable about the Technology Hype Cycle.

Because of that knowledge, from the beginning, they expected it all to go like that.

They are the only ones that were able to stay focused and keeping pushing forward.

And when all the speculators and Get Rich Quick people have moved on to the next shiny object, the process enters the Slope of Enlightenment:

GRAPH 6

The Technology Hype Cycle

That is where, little by little, the technology (in our case, the empowr coin) keeps growing in value…

… because more and more citizens (users) are earning it from their posts and sales to each other….

… and using it at more and more local merchants…

 with each force (buyers and sellers) attracting more of the other.

 

It is at that point, that the world starts to realize, in our case hopefully that the empowr coin is on its way to become the world’s defacto standard currency...

... because it has hit that magical point called the “inflection point” where it cannot be stopped:

The Technology Hype CycleThe Technology Hype Cycle

The inflection point will be reached because of all that we will have been working on and around the currency…

… things such as the social network with our trust flow and maturation, the integrated marketplace, success coaching and educational programs, transportation system, thousands of democracies (empowr countries) each serving and staying in touch with the needs of their citizens…

… with all of those things operating within a global cohesive democracy that is uniquely set up to drive profits back to the community instead of sucking it all out for the benefit of a handful of billionaire investors and founders.

The next period we enter is called the Plateau of Productivity:

The Technology Hype Cycle

The Technology Hype Cycle

That is where everyone is rewarded financially for having had the ability to bet on the future, and work towards it WITH FOCUS…

… while the rest of the world didn’t have the knowledge, ability or opportunity to do what we’re doing – which is to ignore the cycle and stay focused.

 

So, what’s the right strategy for all of us, as individuals?

1.  Don’t buy into the hype. The best way to do that is to not buy coin (Bitcoin, empowr coin or any other).

If you do buy, don’t buy too much, so its ups and down don’t affect your ability to focus.

Your purchases should amount to entertainment – like the amount you would be comfortable spending on going to the movies.

That means that if you do bid on empowr coin in the auction, place a low MAX BID PRICE per coin – so that (if you do win) the price you received per coin is very low.

(If that approach causes you to not win any coins, that’s OK. You’ll have plenty of opportunity to earn coins going forward)

 

2.   FOCUS FOCUS FOCUS

We must stay focused during the “Peaks” and the “Valleys”.

Don’t buy into the hype when everyone’s shouting that this is the best way to make big money overnight.

And don’t buy into the depression when everyone gets depressed.

Simply stay focused on 1. hitting your daily goals, and 2. increasing your mission points.

It really is that simple.

Do YOU have what it takes to stay focused?

 

Look, we have the most experience, tools and momentum in building long-term value around a currency.

Now, ALL you need to do is remain focused with a steady mind and hand.

 

And finally….

So, will Bitcoin now continue to crash, or is this a temporary correction?

In other words, is it still on its way towards the Peak, or has it passed the peak and is on its way towards the valley (the trough of disillusionment)?

No one knows.

What we do know is that:

1.  Bitcoin WILL follow the Technology Hype Cycle, as all technologies before and after it will.

2.  And as it does, since it has the most eyeballs on it, all other cryptocurrencies will follow it up or down the cycle, as the market doesn’t and won't have the ability to distinguish them from each other. That includes our coin.

3.  This community (empowr) will continue building on its mission and 18-year head start in building everything around virtual currency.

Those of us that stay focused – as evidenced by our 30-day mission points – will be rewarded – as the concept of virtual currency comes out of the trough (valley) and into the final stages of evolution.

Those of us that cannot focus – that are more easily distracted by the hype (when it’s going up) and the depression (when it’s down) won’t stick around. And that’s neither good nor bad – it’s just the way the world works, so don’t let it get you down.

 

All I can promise you – with zero doubt whatsoever – is that unless and until our bodies give out on us – here at empowr headquarters -- we won’t stop.  

We won’t get distracted by easy money or other shiny objects.  Never have, never will.

We will remain 100% focused on the mission. You can be fully confident about that one fact.

And, you can be just as confident that many of your fellow community members will stay focused too – given the many hurdles they’ve already had to overcome and yet they are still here.

Thanks for listening.

-JC


PS:  For those of you interested in more details on the Technology Hype Cycle (graph from Wikipedia):

The Technology Hype Cycle The Technology Hype Cycle

566 Comments
:

Md. Ariful Islam

Great ! I like it Empowr site.

19 months ago
Amada Marcelino

Dearest JC,
That's very well-said and expalined. What I know , BITCOIN has now a competitor whic is our empowr coins. lol. It means it has a GREAT chance to drop down!!!

Thanks and take care--mady

19 months ago
Join This Country *** That Was Created To Help Everyone Succeed

I agree with you Amada, Bitcoin now has a competitor with a solid foundation of a social media platform to drive it forward through the ups and downs which will happen but through teamwork and focus the downs will become smaller as the ups become larger.

I agree with JC our focus should be on the longterm goals....the mission and when we're all working towards that the rest will follow suit and the value will increase based on our passion to stick with it.

That's what will drive/attract more people to join the empowr, to join the mission, and through the power of numbers, we will acheive success that can't be destroyed by a select few.

Trever McGhee

19 months ago
Debi Jones

This is all such fascinating information. So much to learn and understand. I agree with JC as well that our focus should be on the long term goals and not the next shiny object. Thanks Jeannette for your research.

19 months ago
Oxana Shabalina

Thank you! Very useful information. It is useful to us. Thank you

19 months ago
Mohammad Awais

Thanks, JC very useful information all of us...

19 months ago
Join This Country *** That Was Created To Help Everyone Succeed

The sudden drop of 30 to 40% for bitcoin/the cryptocurrency market is the best thing for empowr right now as it will cause millions to take a step back and take a closer look at just how stable these currencies are...

****just what do they have backing them up

****....which in turn will bring empowr to the forefront in how their currency has been built from within a platform that can stand on its own.

****A platform that has been around for 18 years and continues to evolve faster than any other platform out there.

These are very exciting times for what the future will bring all of us if we stay focused on the long-term goals, the mission.

Through the countries that go live this Feb that growth, that rate we move forward by working together we'll bring about change faster than what you thought was possible.

Huge thank you goes out to every citizen, every coach, every empowr employee for being here, for being part of a mission that will change the world.

19 months ago
Naresh Patel

Thanks JC surely success will be ours we will succeed in our mission of helping humanity

19 months ago
Anton Goronkov

Very informative and interesting information. Thank you for this post JC!

19 months ago
Dmitriy Nesterov

Good and timely news. Not everyone is an ace in crypto business. Therefore, in order to prevent panic in the crypto-currency market, it is necessary to inform the citizens about market conditions in a timely manner. It's great. Thank you

19 months ago
Ashrafuzzaman Salim

Thanks you so much JC for valuable information.

19 months ago
Elena Ivantsova

Thank you for such important information. We are on the right road. I thank all and success!

19 months ago
Kvvinto K

Great post! Thank you JC for a very useful info!

19 months ago
Murad Akm

Thank you JC for very very meaningful announcement with lot of information. Aspect it from empowr always. Great works and for this we are proud empowrian.

19 months ago
Tatyana Sheveleva

Very interesting information. Thanks for this post JC!

19 months ago
Anton Soin

Thanks JC. Very informative information. Let's achieve success and overcome all difficulties!

19 months ago
Bob Poster

Thanks JC! This very good info. I was reading about a technology called IOTA. They say it is better than blockchain as some are worried about the invention of quantum computers as they will be able to hack the blockchain tech. Just one of those things down the road to be aware of.

19 months ago
Svetlana Spinei

Very Informative and I like the progress Empowr is making

19 months ago
Aleksey Lipatov

Thanks for the very useful information !!!

19 months ago
Kelly Baker

Thanks JC I am very greatful that you explained the currency this way. I do understand much better now! I am very happy empowr has went in this direction. Thank you very much for all your time and efforts.

19 months ago
Sheryl Woodard

Exceptional economics lesson that was easy to follow and understand. Thank you JC for your time and effort to educate us all about the various stages our coin will go thru. Long live empowr!

19 months ago
Mili Satapathy

Thanks JC for this useful information. We must relay to the citizens about the hitting daily goal and also increase the mission points. As both these are very useful to be rewarded with the coins.

19 months ago
Noah Adisa

Wow, that's fully educating, I now learnt more about cryptocurrency and blockchain. Good eye opener is this updates. Thanks sharing, JC

19 months ago
G Chandra Kumar

Hi JC,
Good observation. When a coin is able to fulfil its user's demands at a higher level with social and easy transactions then that will survive.
When the coin allows users to spend it in different places and market that will become intimate.
That needs a collective teamwork of a community.
Hope empowr coin will conquer the crypto world as your views are near to the fact.
With best regards
G Chandra Kumar

19 months ago
Imtiaz Ali

Great news for price updates and use of new technologies. Thank you JC for sharing.

19 months ago
Hariga Magda Angelica

Congratulation and good luck to all, very interesting news!

19 months ago
Prashant Dimri

Of course there is not such a productive community working behind BITCOIN...Bitcoin is not at all to be exchanged in local currency of any individual rather than shop at specific outlets..30% to 40% down is not a normal event as the currency market is closing for next 3 days..

19 months ago
Gulzhan Altynbek

Спасибо, JC очень полезная информация всем нам ...

19 months ago
Animesh Garai

Thank JC for this wonderful Tech Hype Cycle explanation.

19 months ago
Vijay Maurya

Greet and very informative news !!!

19 months ago
Marijke Van Giffen

Thank you, JC for again such a simple looking explanation for what I considered until now a difficult subject. Very inspiring. It must have brought back memories for you. I have the distinct feeling that this time around you are prepared and preparing us. Thank you for guiding me into the world of difficult cryptocurrency and market behavior subjects. I love to learn and you are a great teacher. Pity you are not available as SC.

19 months ago
Sonia Madubuko

Nice one,with this information we understand better ,thanks very much,we keep focused and carry out our task diligently

19 months ago
Oksana Harbin

Congratulation and good luck to all, very interesting news!

19 months ago
Bernie Feodoroff

Great post as this really hits the nail on the head. no matter what is delivered into this world this cycle exists.

19 months ago
Inna Sokolenko

Very interesting! This requires careful study))

19 months ago
Badar Shakeeb

Nice explanation

19 months ago
R Sita Rama Chandra Maruthi

Thanks a lot JC for your great efforts to clarify about price technologies.

19 months ago
Monika Sulikova

Hi, Thanks for the current information, what's happening, it's interesting new facts. Great work and obstacles and it happens in the ordinary life. Needless to do everything immediately. Thank you

19 months ago
Said Rahman

Thank you Empowr team for best information, we have full confident on our empowr coins

19 months ago
Mukharbek Oligov

Thanks JC. I am very glad and grateful to you that you explained the currency in this way. Now I understand much better! I'm very happy that empowr has gone in this direction. Thank you so much for all your time and effort.

19 months ago
Hasan Syed

Thanks. JC Sir for sharing basic behind the drop scene of Bitcoin and we have to focus at what,We as a team must compete at this level also to made our currency a big success.Thank you very much to updating all community in quick time.

19 months ago
Morris Amule Vucia

Thanks, JC for this great information, we shall win it at the end of our strategies, keep it on.

19 months ago
Md Adeel

Thanks JC for this awesome Information,
That's what a true leader's Mindset,
We will never stop ,

19 months ago
Tatyana Okuneva

Excellent publication !! I'm very glad that everything happens very quickly. We received free empres coins. Thanks to JC and the empowr team!

19 months ago
Arjit

As empowr lunch it's coin and one can use the coins immediately to buy products from the empowr marketplace means a citizen can use the theory 'buy-sell' with the coin. Which is actually the purpose of a coin. And for others as bitcoin, it's a fact that using bitcoin one cannot enter into any marketplace. So there is a bright future for the empowrs or empowr coin. Thanks JC

19 months ago
Fidel Mann

TRUE. The educational value provided by empowr through its blogs for free is enlightening.

19 months ago
Muhammad Rizwan Jabbar

Thanks, JC very useful information all of us...

19 months ago
Zdenka Hroncova

Thank you very much for your information. Yes, it was hoped the price would fall,
it is necessary and everything will be good.

19 months ago
Alexey Levushkin

It's great news!!! We all wait cryptocurrency!!!

19 months ago
Rk Annapurna

Really thanks JC for yours efforts to know us details about empowr coins

19 months ago
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