Internet Trends Report 2018: “Exploding” Interest in Crypto

Avi Rosten
  • The annual report which "tells stories of business-related trends" - identified a massive increase in cryptocurrency interest
  • The report also showed that bitcoin was a popular topic at university

Venture capitalist Mary Meeker’s popular annual Internet Trends Report has this year identified an “exploding” interest in cryptocurrency.

Compiled in conjunction with venture capital firm Kleiner Perkins Partners and Hillhouse Capital, the 294-page report focuses on “trends around data” to “tell stories of business-related trends.”

Of particular interest, the report showed that academic interest in cryptocurrency hit a new high in 2017 - with a Princeton course on Bitcoin and Cryptocurrency Technologies ranking in the top 10 most popular university courses for the year.

 

Meeker’s report looked at some interesting stats to illustrate the increase in cryptocurrency interest: data from Coinbase shows their user numbers increasing nearly fourfold between January and December 2017.

coinbase users.png

The chart also shows a particular spike in the frenetic autumn period when bitcoin and other top cryptocurrencies rose rapidly - although the chart fails to include the figures for coinbase membership during December when bitcoin reached its all-time high of $20,000.

Moving into the Mainstream

Coinbase have arguably been instrumental in the penetration of cryptocurrency into the mainstream - in particular for retail investors. One of the few exchanges to offer fiat pairings with top cryptocurrencies, the exchange and wallet provider has name recognition that extends beyond the confines of the crypto-world.

With reports released today confirming that Bittrex are set to offer Bitcoin US Dollar trading on their exchange - recent moves by other exchanges towards offering fiat pairings will no doubt increase this movement towards mainstream recognition.

Max Keiser: Bitcoin Dominates Altcoins in Cryptocurrency Debate

  • Keiser Report host Max Keiser claims that bitcoin continues to dominate altcoins and provide more investor security.
  • Keiser predicted bitcoin's market dominance and hash rate to reach 99 percent within the next five years. 

Max Keiser, host of the Keiser Report, claims that bitcoin has no cryptocurrency rivals and that most altcoins fail to live up to the standard set by BTC. 

Speaking in an appearance on London Real, Keiser dismissed the possibility of a new crypto-asset emerging and eating into bitcoin’s market dominance. 

He said, 

There’s no coin out there that can do what Bitcoin doesn’t do already or will be able to do shortly. What you’re buying with Bitcoin is security.

Keiser continued, arguing that hard forks of bitcoin such as bitcoin cash and SV lack security compared to the original BTC.

The avid bitcoin supporter also referred to several altcoins as being “pure exit scams,” intentionally designed to manipulate investors. 

He explained, 

They have huge ‘pre-mines’ that the founders are selling or dumping and making a lot of money. A lot of people are losing money, and they have no use case. So like a Ripple or an Ether, even, is an exit scam. It’s to be avoided. Those are the top coins.

Keiser predicted that bitcoin’s market share and hash power, sitting at 65% and 85% respectively, will continue to rise relative to the market. He claimed that within five years bitcoin will account for 99% of all cryptocurrency hashing power and market capitalization. 

Featured Image Credit: Photo via Pixabay.com