At what stage are we now in the crypto space

Nighthog

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Quote from: slaman29 on March 01, 2021, 04:41:34 AM

I think, and don't hit me for it, we're actually still in the denial stage. We are still not yet in mainstream adoption, remember. And people are still saying BTC is a bubble, a ponzi, a scam etc.

And still regulators prefer to focus on it being a criminal currency, and unstable one and even one bad for the environment. Doesn't this all sounds like very strong denials? Wink

It's intentional the scam & fuddling claims, the old power structures don't want the competition this new platform entails & want to outright ban it if and when they can get away with it. They will hold it off for a few more years before they either accept it or form a formal dismissal as a threat to their power & control.
We already see the effects of some governments banning the usage because they lost control of the finance & taxes because of it.
Only those with stricter & more developed government platforms will allow it as a source of extra income as they can enforce the taxation of the networks.

Gozie51

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Quote from: BayAngelo on February 28, 2021, 02:31:31 PM

I think the current stage is integration stage. where traditional institution should merge with blockchain projects to enhance the markets. with the pandemic still affecting business at large and with no sign of reducing.

The stage does not have to be included with covid-19 pandemic. Pandemic itself does not set the stage or cryptocurrency adoption backwards but it is has set the stage 100x forward.

Pandemic made cryptocurrency more relevant.

The stage is a time to see banks collaborating with blockchain where apart from bank transaction in fiat right from your home, you also transact with crypto ATM in every retail shop without going to bank ATM.

Sanitough

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We are at the stage where the institutional adoption will drive a massive adoption. However, it's not that fast and easy, institution are smart as they position themselves early, but regulation or standard regulation is still the most vital before a massive adoption will happen, and it will take time as there's still a lot of things this market has to improve.

As the market is still prone to manipulation, I can't say massive adoption is already happening, for now it's more on the battle of investors and traders moving the price up and down.

Coinsfera

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In the last quarter of 2020, especially thanks to the increase of institutional and individual investors, the crypto money market, especially the leading cryptocurrency Bitcoin, has been on the rise. The rise continued this year as well. The rise of many cryptocurrencies to new heights has also begun to attract mainstream attention. Therefore, I think the market is between the introduction and growth stages.

slaman29

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I think, and don't hit me for it, we're actually still in the denial stage. We are still not yet in mainstream adoption, remember. And people are still saying BTC is a bubble, a ponzi, a scam etc.

And still regulators prefer to focus on it being a criminal currency, and unstable one and even one bad for the environment. Doesn't this all sounds like very strong denials? Wink

michellee

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The adoption still going on while the integration phase now comes to the big companies and then the medium and small companies will follow behind. I am not sure if the world economy is gradually plunging down as many countries still try and work on that. Besides that, every government is no telling how their financial situations to the public because they do not want to make a panic to their people. Even if it is the right time to have a massive change in traditional finance and trying to integrate with blockchain technology, it needs preparations for the company and that is not easy as it says.

X-ray

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Quote from: BayAngelo on February 28, 2021, 02:31:31 PM

I think the current stage is integration stage. where traditional institution should merge with blockchain projects to enhance the markets.

mmm... I do agree about the integration stage but eh adoption is not yet happened. The adoption of cryptoi is relatively slow. there lots parties still feeling doubt about crypto and crypto must prove it to make them wanna adopt crypto.
Just look at some companies are feeling skeptical about crypto. That means if what you are saying is not true at all because mass adoption is not yet happened.
I think that crypto is still in the integration stage combined with the interpretation.

dhemasm

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In my opinion, we are approaching the stage of mainstream adoption. Some of the current large institutions such as Paypal have started integrating Blockchain via cryptocurrency and the number of various Blockchain use cases that have recently appeared (Cloud Computing, Decentralized Storage, CDN, etc., I think personally we are currently in the Early Majority phase and are currently transitioning to the late majority after this pandemic happens and finally becoming mainstream. This is certainly a good thing because we are the first part of this innovation. Actually it's only a matter of time for various other fields especially finance to integrate Blockchain as a whole as a basis of the system, I am using the chart below as the basis of my opinion.

crwth

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Quote from: goaldigger on February 28, 2021, 10:57:49 PM

They have to so they can survive as well since many businesses are suffering a lot on this time of pandemic, but not all of them are willing to take risk adopting blokchain technology, and Bitcoin because its too volatile for them.

It depends on what business that is because most of the small businesses are really struggling and they have no option to hedge their funds into another asset. The ones who are hedging their funds in crypto are those in the large sectors, like MicroStrategy, Squarespace, etc. Putting out the problems that we have now, the pandemic, the problem of inflation is not going to stop, it would just rise.

Quote from: goaldigger on February 28, 2021, 10:57:49 PM

We're on a stage where people are still hesitant to buy bitcoin because they have to prioritize other things to survive, plus many loss their main source of income so its hard for them to decide whether to buy bitcoin over the daily necessities like food.

This is a problem as well because of the volatility and they couldn't be any more confident with the price changes. It's just not comfortable for them. This is what affects adaptation as well.

goaldigger

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Quote from: crwth on February 28, 2021, 10:00:26 PM

As we all should know that we cannot escape inflation in an economy and that will continuously happen as long as we have those people who have the capacity to do so. "Printing more money"

So the best approach would be is to hedge your funds into something that has resistance to this inflation, and that could be Crypto.

That's why there are some institutions now who are willing to mix their portfolios into crypto.

They have to so they can survive as well since many businesses are suffering a lot on this time of pandemic, but not all of them are willing to take risk adopting blokchain technology, and Bitcoin because its too volatile for them.

We're on a stage where people are still hesitant to buy bitcoin because they have to prioritize other things to survive, plus many loss their main source of income so its hard for them to decide whether to buy bitcoin over the daily necessities like food.

crwth

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As we all should know that we cannot escape inflation in an economy and that will continuously happen as long as we have those people who have the capacity to do so. "Printing more money"

So the best approach would be is to hedge your funds into something that has resistance to this inflation, and that could be Crypto.

That's why there are some institutions now who are willing to mix their portfolios into crypto.

cabron

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We haven't got there yet, there is no adoption of BTC in most countries but a few. But this pandemic is forcing traditional finance to hedge on BTC and crypto assets due to the government printing more bank notes. If all these continue, we may really be seeing the new stage where every businesses will also go for crypto and then we can casually buy items on stores using our coins.

yazher

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Quote from: BayAngelo on February 28, 2021, 02:31:31 PM

I think the current stage is integration stage. where traditional institution should merge with blockchain projects to enhance the markets. with the pandemic still affecting business at large and with no sign of reducing. most country printing more currency notes which might cost inflation, to solve financial issues for their citizens. crypto has pass the stage of adoption. the world economy is gradually plunging down. with little or no help. i think it is the right time to have a massive shake off in traditional finance and embrace in blockchain technology.
What do you think.

Not yet man, we still in the stage of adoption in some parts of the world where they still don't know what to do about this crypto industry. In so many cases, people already know what it is and how to use it but considerably in some countries they still don't understand what is it and what is the ruling of investing in it. So, adoption is still in process and there are so many things to consider before we climb up to the next stage. Some big-time countries especially in the middle east don't have their own say about this thing yet.

nykka

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Many people don`t see technologies behind the blockchain companies, so they consider cryptocurrency only as an investment. Every bullrun more and more enthusiasts, who really understand crypto worth, join the party. Nonethless, I think it`s too early to talk about crypto adoption, because there are still too small number of people don`t think about only the profit

Jating

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Quote from: BayAngelo on February 28, 2021, 02:31:31 PM

I think the current stage is integration stage. where traditional institution should merge with blockchain projects to enhance the markets. with the pandemic still affecting business at large and with no sign of reducing. most country printing more currency notes which might cost inflation, to solve financial issues for their citizens. crypto has pass the stage of adoption. the world economy is gradually plunging down. with little or no help. i think it is the right time to have a massive shake off in traditional finance and embrace in blockchain technology.
What do you think.

We have been in this stage already, even prior to the pandemic, government are already thinking of using blockchain. It just magnified because of the pandemic, and it seems they are in a hurry to have 'cash-less society'.

I don't think though that blockchain will solve the financial issues globally, it might be a bridge though. And it will take some time for us to really recover because of the negative impact that covid-19 has brought to the world.

tabas

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Quote from: BayAngelo on February 28, 2021, 02:31:31 PM

I think the current stage is integration stage. where traditional institution should merge with blockchain projects to enhance the markets.

They don't have to, what they do is just a simple purchase of bitcoin and other altcoins that they find as a good investment.

Quote from: BayAngelo on February 28, 2021, 02:31:31 PM

with the pandemic still affecting business at large and with no sign of reducing. most country printing more currency notes which might cost inflation, to solve financial issues for their citizens. crypto has pass the stage of adoption. the world economy is gradually plunging down. with little or no help. i think it is the right time to have a massive shake off in traditional finance and embrace in blockchain technology.
What do you think.

The printing of money have contributed to what the market is it today now. Those stimulus checks have been added to the market cap because of those receivers that are looking to invest to the market.

BayAngelo

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I think the current stage is integration stage. where traditional institution should merge with blockchain projects to enhance the markets. with the pandemic still affecting business at large and with no sign of reducing. most country printing more currency notes which might cost inflation, to solve financial issues for their citizens. crypto has pass the stage of adoption. the world economy is gradually plunging down. with little or no help. i think it is the right time to have a massive shake off in traditional finance and embrace in blockchain technology.
What do you think.

Topic: At what stage are we now in the crypto space (Read 166 times)