Topic: [2017-12-10] Bitcoin Can No Longer Be Stopped,As Mainstream Adoption Grows (Read 1863 times)

Its right that no one can stop bitcoin. Bitcoin is getting popular day by day because of its wonderful features and the sudden surge in price. Moreover medias are giving a really nice boost for its popularity. This tempts people to try bitcoin atleast once and when they enter into this they will continue to use it.

I fear that bitcoin rally could be stopped and this can happen when the many countries come together and take a unanimous decision regarding bitcoin as a whole. If they decide that their country is not going to support it and thus this will lead to ban in their respective countries which in turn means the downfall can start as many developing countries are yet to decide on its future.

There is no question that interest with Bitcoin in all fronts can be reaching a boiling point. The legitimization movement for Bitcoin has now reached a critical mass period as there are now many financial institutions introducing their own versions of Bitcoin Futures Contracts to entice investors into Bitcoin without the need to own one. And I am sure that by next year there would be more positive development...many are hoping for the eventual approval of the ETFs which can mean a lot for Bitcoin.

Of course, we should be expecting more speculations and therefore more volatility for Bitcoin as the initial reaction to these developments until the market would settle. Naysayers are still saying that Bitcoin can explode, implode and just be another tulip bulb mania centuries ago. Maybe so but I am inclined to believe that comparing the two is unfair since there are many characteristics of Bitcoin that tulips did not have. I am more optimistic though I am making sure it is guarded optimism as blindly accepting anything is not fashionable anymore.

I think the critical threshold is over now, whether bitcoin will become mainstream or not. Mass adoption has already started, which I think will drive the price upward in long term. All indicators are positive for bitcoin so far.

I don't see why merchants are reluctant to accept Bitcoin due to the high volatility. If you look around, there are several payment gateways giving you all the convenience and protection you need against the volatility. It's a pretty lame excuse to be honest. Merchants are solely interested in generating sales, where they don't care how it happens. As long as long as it happens and it's cheap, they should embrace it. Other than that, what I am more surprised about, in a good way, is that people more than ever before are looking to hold their coins for the long term. Back in the days we would have fallen back to far lower levels already, where right now even the $10,000 level holds firmly.

The recent rise in Bitcoin’s value has initiated varied reactions from different quarters of the industry. While holders of the cryptocurrency are excited with the extraordinary profit generated from their investment, some merchants are becoming more reluctant to accept Bitcoin because of its high volatility.

As Bitcoin’s price (and adoption) soars, more attention is being paid to the cryptocurrency, both by enthusiasts and regulators. Of course, the two sides often are far apart in their views.

Varun Satyam, Co-Founder and CBO of almora.io thinks that more attention should be paid to how adoption will play out in developing nations. Satyam is of the opinion that Bitcoin has crossed the line where it can no longer be stopped, and the only thing left is to see how it develops going forward.

“It is even more interesting to see how Bitcoin and cryptocurrency adoption in developing nations [will] be. A massive economic turmoil is coming ahead. Blockchain is absolutely going to bring more secure, privatised decentralised systems, almost rewriting the internet in best way. Bitcoin has grown so big that is unstoppable now and nations are in a fuss [about] how to react [to] it, the attitude will be completely uncertain and will change dynamically according to conditions.”

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