WhatsApp’s blog: The telling diary of a 16 billion dollar startup.
|—||Papa Francisco, fiesta de San Francisco de Sales. 24.01.2014.|
More than 60 percent of companies report having no program or only ad hoc social media education programs, yet when asked about their top internal objectives, developing social media education was the second most important priority for most organizations.
What’s the future of Bitcoin?
Bitcoin is a classic network effect, a positive feedback loop. The more people who use Bitcoin, the more valuable Bitcoin is for everyone who uses it, and the higher the incentive for the next user to start using the technology. Bitcoin shares this network effect property with the telephone system, the web, and popular Internet services like eBay and Facebook.
In fact, Bitcoin is a four-sided network effect. There are four constituencies that participate in expanding the value of Bitcoin as a consequence of their own self-interested participation. Those constituencies are (1) consumers who pay with Bitcoin, (2) merchants who accept Bitcoin, (3) “miners” who run the computers that process and validate all the transactions and enable the distributed trust network to exist, and (4) developers and entrepreneurs who are building new products and services with and on top of Bitcoin.
All four sides of the network effect are playing a valuable part in expanding the value of the overall system, but the fourth is particularly important.