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  • Writer's pictureFelipe Barco Pizarro

The Diffusion of BitCoin

BitCoin is a cryptocurrency, created to work as a medium for exchange. Even tho the domain BitCoin.org was created on the 18th of August, 2008, it wasn't until the 3rd of January 2009 that the BitCoin network came into existence.


It is possible to analyze the BitCoin innovation with the Diffusion Theory, since in fact what happened is that once it was created, they tried to reach their critical mass as fast as possible, what I mean by this is that they started to go to college campuses and start talking about it, it was also over the social media, like this they were able to start what is called the diffusion through word of mouth, where college students were their principal way of advertisement and on the same way, they were their critical mass. Needless to mention the fact that YouTubers also started to talk about it and show how life was changing due to BitCoin, they showed as a way of making easy money and not a complex way, since everyone can access to where is bought and it just by a couple of clicks.


In my opinion, BitCoin is a good example of this theory since it did overcome that critical mass period all the way till the cryptocurrency started dying, but the creators already did enough profit on it and as every other product, it has a dying period, which we are kind of able to see at the moment, since the drop of the price began about 1 year ago.

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