"Crypto is no longer in the early adoption stage"

agg2702

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Quote from: Cling18 on September 16, 2021, 02:39:53 PM

Lots of things have happened for years and the improvement and development of Bitcoin as a currency is too visible and I must agree that it isn't in the early adoption period anymore. Some countries are now adopting it as an alternative and digital currency and are being used in digital transactions which only means that it has passed the tests of time so it's already on the higher step pf adoption period.

Even though it's like that, I think for now we are in a transition period where to say we are living in an advanced stage of adoption is not true because if we look at the population, the number of people and countries that adopt bitcoin is still very small.
maybe for people or investors who have long been able to say this is a continued adoption and not an early stage but overall if we look at the actual comparison we are still not free from early adoption considering there are still many people who don't even know what bitcoin is and like how it works.

wiss19

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Quote from: Leviathan.007 on August 12, 2021, 04:06:23 PM

The cryptocurrency industry started with the launch of Bitcoin in 2009 and then flourished in the following years with various assets and blockchain-based solutions. According to Stephen Stonberg, CEO of Bittrex Global, this is no longer in its infancy.
“I think we’re already past the stage of crypto early adoption,” Stonberg told Cointelegraph adding:
“Crypto has now gone mainstream. We have double-digit percentage adoption in both developed and developing countries. We even have Bitcoin adopted as legal tender in a country and many other countries are considering adopting Bitcoin as legal tender.”
Bitcoin has also become a very common investment, as a number of large companies such as Microstrategy have invested in these assets.

Being a legal tender is totally different from being a national currency. Any country can declare Bitcoin their legal tender but that doesn't mean that it is their national currency. Although the good thing about being declared a legal tender means that anyone can make use of it to clear debts or make payments. But in countries where it is not legal anyone caught making use of it will be punished.

El Salvador he said the frontline of the movement of adopting cryptocurrency as legal tender, and I’m looking forward to seeing other countries who would do the same thing. Ukraine is one of the countries that I’m looking forward to, which might do the same any moment from now.

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Quote from: Cling18 on September 16, 2021, 02:39:53 PM

Lots of things have happened for years and the improvement and development of Bitcoin as a currency is too visible and I must agree that it isn't in the early adoption period anymore. Some countries are now adopting it as an alternative and digital currency and are being used in digital transactions which only means that it has passed the tests of time so it's already on the higher step pf adoption period.

There is no doubt that a lot of things have happened during the last few years w.r.t. Bitcoin. But that doesn't mean that we have passed the early adoption stage. IMO, we will progress to the next stage, when multiple countries adopt Bitcoin as the legal tender. And from what I can see, we are at some distance from that. And the number of active users still represent a minute fraction of the world population. I have seen claims like there are tens (if not hundreds) of millions of Bitcoin users. But how many of them are active users?

arwin100

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Quote from: Cling18 on September 16, 2021, 02:39:53 PM

Quote from: Leviathan.007 on August 12, 2021, 04:06:23 PM

The cryptocurrency industry started with the launch of Bitcoin in 2009 and then flourished in the following years with various assets and blockchain-based solutions. According to Stephen Stonberg, CEO of Bittrex Global, this is no longer in its infancy.
“I think we’re already past the stage of crypto early adoption,” Stonberg told Cointelegraph adding:
“Crypto has now gone mainstream. We have double-digit percentage adoption in both developed and developing countries. We even have Bitcoin adopted as legal tender in a country and many other countries are considering adopting Bitcoin as legal tender.”
Bitcoin has also become a very common investment, as several large companies such as Microstrategy have invested in these assets.

Source: https://cointelegraph.com/news/crypto-is-no-longer-in-the-early-adoption-stage-bittrex-global-ceo-says

Lots of things have happened for years and the improvement and development of Bitcoin as a currency is too visible and I must agree that it isn't in the early adoption period anymore. Some countries are now adopting it as an alternative and digital currency and are being used in digital transactions which only means that it has passed the tests of time so it's already on the higher step pf adoption period.

We can already say about that and no more further debate to be either early or not since in the first place bitcoin already age a decade we also see some huge ATH and ATL also currently the price is quite expensive for middle to low income earner that's why we can say that the claims about that is right, but it didn't stop there since the potential still so high we will still so many ATH to be broke so even if we are not in early state still its good to buy bitcoins at any point since to potential to earn is high if you are not a weak handed trader.

Cling18

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Quote from: Leviathan.007 on August 12, 2021, 04:06:23 PM

The cryptocurrency industry started with the launch of Bitcoin in 2009 and then flourished in the following years with various assets and blockchain-based solutions. According to Stephen Stonberg, CEO of Bittrex Global, this is no longer in its infancy.
“I think we’re already past the stage of crypto early adoption,” Stonberg told Cointelegraph adding:
“Crypto has now gone mainstream. We have double-digit percentage adoption in both developed and developing countries. We even have Bitcoin adopted as legal tender in a country and many other countries are considering adopting Bitcoin as legal tender.”
Bitcoin has also become a very common investment, as several large companies such as Microstrategy have invested in these assets.

Source: https://cointelegraph.com/news/crypto-is-no-longer-in-the-early-adoption-stage-bittrex-global-ceo-says

Lots of things have happened for years and the improvement and development of Bitcoin as a currency is too visible and I must agree that it isn't in the early adoption period anymore. Some countries are now adopting it as an alternative and digital currency and are being used in digital transactions which only means that it has passed the tests of time so it's already on the higher step pf adoption period.

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Quote from: Fortify on September 03, 2021, 02:41:09 PM

I think it is more fair to say that Bitcoin is no longer in the early adoption stage, as there are lots of new coins being developed and even some established coins are seeing radical overhauls in how they work (like Ethereum). Bitcoin has built a rather steady foundation for itself and will probably stay relatively similar into the future. Even the larger financial institutions are only just starting to branch into the smaller alternative cryptocurrencies so there is still a lot out there that is untapped. It is definitely a maturing industry that has had a lot of exposure in the media over the last few years, which is great for all of us, however there are elements of it that are still in the early stages.

I still think Bitcoin is in the early adoption stage, simply because not many people know about it. The vast majority of people worldwide still use Fiat for day-to-day payments. Crypto may have been widely successful since its inception, but it hasn't been able to challenge traditional payment processors directly. There are a lot of issues that are needed to be solved before crypto becomes a serious alternative to Fiat. Limited transaction capacity and high volatility is what's "killing" crypto anyways. Crypto has a long road ahead before it becomes mature enough for mainstream use. Just my opinion

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Quote from: Leviathan.007 on August 12, 2021, 04:06:23 PM

The cryptocurrency industry started with the launch of Bitcoin in 2009 and then flourished in the following years with various assets and blockchain-based solutions. According to Stephen Stonberg, CEO of Bittrex Global, this is no longer in its infancy.
“I think we’re already past the stage of crypto early adoption,” Stonberg told Cointelegraph adding:
“Crypto has now gone mainstream. We have double-digit percentage adoption in both developed and developing countries. We even have Bitcoin adopted as legal tender in a country and many other countries are considering adopting Bitcoin as legal tender.”
Bitcoin has also become a very common investment, as a number of large companies such as Microstrategy have invested in these assets.

Source: https://cointelegraph.com/news/crypto-is-no-longer-in-the-early-adoption-stage-bittrex-global-ceo-says

I think it is more fair to say that Bitcoin is no longer in the early adoption stage, as there are lots of new coins being developed and even some established coins are seeing radical overhauls in how they work (like Ethereum). Bitcoin has built a rather steady foundation for itself and will probably stay relatively similar into the future. Even the larger financial institutions are only just starting to branch into the smaller alternative cryptocurrencies so there is still a lot out there that is untapped. It is definitely a maturing industry that has had a lot of exposure in the media over the last few years, which is great for all of us, however there are elements of it that are still in the early stages.

Abiky

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Quote from: jaysabi on August 21, 2021, 09:10:50 PM

Adoption as a currency is virtually non-existent. If you mean adoption as a speculative asset, perhaps this is closer to entering the mainstream, but this was never part of the original thesis. It's only when you move the goalposts that you come anywhere close to saying bitcoin is entering the mainstream. Use as an actual currency still remains rare compared to people just buying and hoping to make money holding it.

That's certainly true, mate. The vast majority of people only use crypto as a speculative instrument. They don't care about using it as a currency, since it's all about making money in the least time possible. This greatly limits crypto/Blockchain tech's ability to replace Fiat in the mainstream world.

I wouldn't say that "crypto is no longer in the early adoption stage" since there's a lot more to it than meets the eye. It's yet the time where Blockchain tech is struggling to scale towards millions of users worldwide. Fees are high, while transaction speeds are slow on major blockchain networks. Until current issues are solved, I'd consider crypto to be in the early adoption stage. Expect to see crypto prices explode after high fees and slow transaction confirmation times are put to rest. If you bought major cryptocurrencies now, you could benefit in the future once the industry becomes mainstream. Ultimately, crypto is all about utility. As long as crypto is useful, nothing else matters. Just my thoughts Grin

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Totally agree, bitcoin is a decade old already so I don't think that it's still in the early stages of adoption. We're more like at the middle ages of the adoption since the adoption is already fairly known but not fairly large yet.

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Quote from: pinggoki on September 02, 2021, 05:11:23 PM

I still believe the stage cryptocurrency adoption is in is at early adoption stage. The fact that the number of people who are still not aware of what cryptocurrencies are and what they do still outnumbers those who do know and had at least cryptocurrency assets within their portfolios serves as enough reason for me to believe so. We needed more people to know more about the wonders crypto could offer the people, level the playing field and make it everyone's game for us to be considered into a new stage of cryptocurrency adoption, plus there are still untapped potential within cryptocurrencies that we are still yet to uncover, enough for me to personally consider that cryptocurrencies are still at its infancy.

Absolutely agreed with this. Look at the transaction volume, and don't just go by the claimed userbase. Compared to the volumes for fiat currencies, the proportion for cryptocurrency is very minute. And although it is claimed that there are tens of millions of cryptocurrency users, how many of them are active in this sector? Even tens of millions is nothing when compared to billions of fiat currency users. The trend is moving in the right direction, and we have userbase increasing at a steady pace. I would say that this is a good sign.

pinggoki

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I still believe the stage cryptocurrency adoption is in is at early adoption stage. The fact that the number of people who are still not aware of what cryptocurrencies are and what they do still outnumbers those who do know and had at least cryptocurrency assets within their portfolios serves as enough reason for me to believe so. We needed more people to know more about the wonders crypto could offer the people, level the playing field and make it everyone's game for us to be considered into a new stage of cryptocurrency adoption, plus there are still untapped potential within cryptocurrencies that we are still yet to uncover, enough for me to personally consider that cryptocurrencies are still at its infancy.

Quote from: Natalim on September 02, 2021, 02:59:34 PM

Quote from: ChiBitCTy on September 01, 2021, 09:55:05 AM

Personally I disagree, I think that we are very much still in the adoption faze. I think that there are still countless bitcoiners whom have no idea what bitcoin is or how it works and all they care about is trying to get rich off of it, that to me still shows that we are in the adoption faze. I think that until maybe 40% or so of a countries population is "in" bitcoin, then maybe we can start talking about being out of the initial phase.

When it comes to bitcoin adoption, i think its not that wide but when when it comes to popularity, it is increasing day by day. But even if people's awareness are always on the rise, but if the government is not taking crypto side, the adoption will still be in freeze.

But somehow, the fact that bitcoin has been living for a decade is not a joke, its really hard for a regular coin to lasts that long. With this, bitcoin has become more appealing to the people and definitely think that bitcoin has really great potentials. I just hope the government can realize this so they can already legalize bitcoin and its adoption will be fully worldwide.

That's the thing, it will take a huge amount of time for cryptocurrencies to finally find themselves in everybody's wallet, be it virtual or physical. There will be a lot of factors to consider and all will play a role in the surfacing of cryptocurrencies in the mainstream. It has to be large scale but subtle as haste makes waste, people should be given enough time to learn the basics of using and keeping cryptocurrencies, along with passing the information to other people, which will definitely take a lot of time.

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Quote from: ChiBitCTy on September 01, 2021, 09:55:05 AM

Personally I disagree, I think that we are very much still in the adoption faze. I think that there are still countless bitcoiners whom have no idea what bitcoin is or how it works and all they care about is trying to get rich off of it, that to me still shows that we are in the adoption faze. I think that until maybe 40% or so of a countries population is "in" bitcoin, then maybe we can start talking about being out of the initial phase.

When it comes to bitcoin adoption, i think its not that wide but when when it comes to popularity, it is increasing day by day. But even if people's awareness are always on the rise, but if the government is not taking crypto side, the adoption will still be in freeze.

But somehow, the fact that bitcoin has been living for a decade is not a joke, its really hard for a regular coin to lasts that long. With this, bitcoin has become more appealing to the people and definitely think that bitcoin has really great potentials. I just hope the government can realize this so they can already legalize bitcoin and its adoption will be fully worldwide.

jakdanyel

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I think that everybody should be aware of this already. Bitcoin has been maintaining itself for more than ten years in this market. It is no joke anymore. Grin

Things have gotten really serious and the adoption rate is increasing at a fast pace. It has been a long time since we left the early adoption stage behind. From now on, Bitcoin is already quite powerful and it is gathering more strength as long as the demand increases.

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Quote from: AndySt on August 31, 2021, 07:59:12 PM

There is still a lot of time before the normal implementation, but it is pointless to assert about the exact timing, because the process will go unevenly at different speeds in different territories and in different states. Also, a lot depends on what is invested in the very concept of accepting bitcoin. It is quite obvious that bitcoin will not be accepted as a full-fledged currency in serious states, and as a certain asset that serves as an object for speculation or for some financial transactions, but still eventually exchanged for a fiat currency, then such a prospect of the near future is quite possible. It's just that everything will be regulated by the relevant state authorities.

I do not agree that bitcoin will not be a full-fledged currency in big states, it will just take longer time that's all. I mean I understand that El Salvador and maybe a few other places is not a big step, but I believe that if this keeps up then in 10 years we will get to see 10 or so more states and in few decades we may see almost all nations doing something like that.

Even if it is not a national stuff, then it could be an international trade deal type of thing where big nations could accept bitcoin as currency in international trades because of how easy it is, you won't be able to spend it while buying your macbook, but apple would be able to pay it made somewhere with bitcoin, because it would be international. This is the type of stuff that I am expecting in the future, it is not that it would be impossible, it is just about how long we will have to wait for it.

ChiBitCTy

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Personally I disagree, I think that we are very much still in the adoption faze. I think that there are still countless bitcoiners whom have no idea what bitcoin is or how it works and all they care about is trying to get rich off of it, that to me still shows that we are in the adoption faze. I think that until maybe 40% or so of a countries population is "in" bitcoin, then maybe we can start talking about being out of the initial phase.

oHnK

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Quote from: AndySt on August 31, 2021, 07:59:12 PM

There is still a lot of time before the normal implementation, but it is pointless to assert about the exact timing, because the process will go unevenly at different speeds in different territories and in different states. Also, a lot depends on what is invested in the very concept of accepting bitcoin. It is quite obvious that bitcoin will not be accepted as a full-fledged currency in serious states, and as a certain asset that serves as an object for speculation or for some financial transactions, but still eventually exchanged for a fiat currency, then such a prospect of the near future is quite possible. It's just that everything will be regulated by the relevant state authorities.

It is true that the crypto market has experienced significant development, but we will still find that there are still many people who have not entered this market for various reasons. Out of 100 people, only 3 people know what crypto is in my country. If it is said that it has gone through the adoption stage, it is already uneven and massive. Cases in developing countries are more complicated than those in advanced ones. Not only crypto but the capital market, there are still a lot of homework even though it was already there.

Kong Hey Pakboy

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Technically yes but there are people that still hasn't seenor heard about crypto or even become curious about it, so it's more like a matter of perspective and the time that you've been in the cryptospace.

Bollexz1

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Yes, I agree... Not after Bitcoin are becoming more recognised and adopted by many gigantic firms and passing a legal tender bill in some part of the states.

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Quote from: Quidat on August 31, 2021, 06:14:27 PM

For now it may seems to be quiet but for sure there are still companies and establishments who do accept or adopt bitcoin even though they arent broadcasted yet but for sure adoption is on the move.
Crypto is indeed no longer in early adoption stage.So what this means ? Nothing to be that serious. We are still hoping that it would become even more bigger in the years to come.
Thing here is that crypto do able to last up for a decade which does signify that it is really doing well and couldnt really be shut down easily.

There is still a lot of time before the normal implementation, but it is pointless to assert about the exact timing, because the process will go unevenly at different speeds in different territories and in different states. Also, a lot depends on what is invested in the very concept of accepting bitcoin. It is quite obvious that bitcoin will not be accepted as a full-fledged currency in serious states, and as a certain asset that serves as an object for speculation or for some financial transactions, but still eventually exchanged for a fiat currency, then such a prospect of the near future is quite possible. It's just that everything will be regulated by the relevant state authorities.

Quidat

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Quote from: Twinkledoe on August 31, 2021, 06:02:13 PM

Quote from: Kusman on August 31, 2021, 05:49:50 PM

This is so true. It has been so much time since we left the early adoption stage behind. Cryptocurrency market is much bigger than the past years now. It is much more popular among people. Many people started giving Bitcoin a chance over fiat. The rate of demand has increased at a really high rate. Bitcoin is being adopted by many big companies also. From now on, the adoption is in an advanced adoption stage.

The adoption further increased when these top companies like PayPal and Tesla, started to accept btc in their payment system, though Tesla later on stopped the btc acceptance. But in any case, some merchants and companies, or even countries like El Salvador are now participating in btc adoption. Adoption is really increasing day by day, as other users are also looking at crypto for possible investment options.

For now it may seems to be quiet but for sure there are still companies and establishments who do accept or adopt bitcoin even though they arent broadcasted yet but for sure adoption is on the move.
Crypto is indeed no longer in early adoption stage.So what this means ? Nothing to be that serious. We are still hoping that it would become even more bigger in the years to come.
Thing here is that crypto do able to last up for a decade which does signify that it is really doing well and couldnt really be shut down easily.

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