Topic: Did crypto become mainstream too early? (Read 593 times)

Anything on this world do really need a sufficient time to be developed and when it comes to cryptocurrencies theres no need to fasten it up. Adoption would always vary on how people would make use of it but one of the biggest factor that do affect adoption is on government itself. It might give some noise but if law or government would block such thing then expect things would be slowed up. Talking about scaling issues and slow transactions, its normal but once upgrades being implemented then expect what would be the next move.

Let's arguably say that bitcoin is known worldwide. Do you think many people will invest in it? I do not think so. As a matter of fact, there are many others who support the government and banks. They would not go around wasting their money on something they do not believe in. However, if the media were with Bitcoin, then people would have had got he courage. But unfortunately, the media is against cryptocurrency. That is why we need more investors, and the more they show up, the bigger crypto gets.

whales made that.

in december while cryptos get popular, they made price 20ks after that, it dropped its normal value 10ks.
now btc is reaaly cheap and in a shprt time it will rise to 10ks again.

I don’tthibk  crypto is anywhere near mainstream .I’m from Italy and 1in10 know about crypto and only bitcoin and that 1 has no clue what to do or how to invest just heard about it in the news etc . So I have a strong feeling this still early in the game to load up and wait for many more bullrun to come .

People only knew crypto as bitcoin only and base from my own exprience they dont really understand anything about it at all. Most of them are thinking that bitcoin and cryptos are scams, and only few of them tried to invest, so i think this is not early, the timing was right for people to slowly understand crypto world.

The current market needs more changes and development before it can be widely used by people. There are indeed too many technical flaws!

I think this is immature. Personally think that the growth of cryptocurrency is a long process. First of all, the government does not like it, but it cannot be eliminated. It can only slowly conquer the government. Find a relationship with the government.

I think that everything goes as it should. Any innovation with something begins. So the crypto currency has its own way. Now a certain part of humanity has knowledge and understanding of crypto currencies. But let's not forget that a huge part of the world's population has never heard of digital currencies. But what can I say here, if there are a lot of people who do not even have televisions, microwave ovens, vacuum cleaners, and so on today? Many of us were in the beginning of the way crypto currency. And very soon all problems of electronic money will be solved. Just need to wait. I hope that in 10-20 years we will use only electronic money.

That's true cryptocurrency is not yet the mainstream and mostly trading is the reason why the price is moving. Of course companies will have to test first before they fully adopt the system but there are many companies now who are using cryptocurrency and make it as one of their primary asset.

There is a certain possibility, I should say. Crypto really should become more and more mature than now, it still lack stability and serious image amongst world.

It was a mainstream since it is spamming all over the social medias that you ever see, even in youtube ads you can see some ads about crypto currency and other ICOs but then it was banned to some social medias because of their excessive spamming all over the platform. But if you remember those days were prices are too low, most people are not aware about it because it was just nothing even if they already heard about it.

I think we are at least 1-2 years out for mainstream adoption- Why would anybody use this before regulation comes in

I am sure that if the Crypto currency is increased in its price, but many will lose interest in it. if representatives that Bitcoin will rise to its price to 500,000 dollars, then who will buy it? After all, today bitcoin is being invested in order to increase its income several times in the long term.

I believe you are very wrong
Crypts are not even used by 1% of the world's population; moreover mainstream has not yet entered, at least officially .... the only ones who perhaps have invested something are hedge funds.
Mutual funds, pension funds, insurance funds, private banks, large investors, etc. they are all still out of this market.

The big rise seen in 2017 was nothing compared to what will be in 3-4 years, in 2020-2021, when there will be a new halving of the Bitcoin pow.
2017 is like being in the stock market in 1994-5 .... 2000 of the shareholder, with the consequent explosion and adoption, will arrive in 2020-2021

It has been more than a decade old chap and not so early. Crypto has still a long way to go. You might know many countries have banned it for many reasons which might threat their interest. Besides, as long as it is not accepted internationally, it might not be regarded as the international currency. Also one of the most important things is its promotion and for the governments to legalize it and only then you can say so.

not also because to bubble already more than five years it is enough because the news will quickly spread and people will be affected with wealth so it does not matter even a new coin only takes a year to be bulging it is amazing is not it.

Crypto is still not mainstream. Who really use crypto except for trading? It is only on experimental use by some companies.

I will not say, bitcoin ve happened when it is necessary, but he lowered his price, but soon rose and showed himself to be real and such as he is, I for this world coin, still shows his.

It needs to settle a lot more as a currency, but i dont think it has been mainstream too early.

Just because its mainstream doesn't mean that everyone is investing - infact alot of opinions on BTC and iCOs have been slated as well as praised throughout the community so i think in more time then it will start to turn mainstream for everyone to get involved.

No, you may think it is. But it will not. Will soon be crazy again. In two years, the blockchain technology will be popular in the world. This is a new era.

I do not think it has become mainstream so quickly yet. It has been more than a decade since people have started dealing in crypto. Besides, crypto currencies particularly Bitcoin was not welcomed in the start and was criticized. Despite all this, it expanded and provided its services. It is still banned by many countries across Middle East and Asia and has not the mainstream yet. We still need to wait some more time.

Crypto has not yet become the mainstream in my opinion. There are still a lot of countries that have banned the technology and despite the benefits she offer, consider the crypto trading illegal. They have their own motives behind this policy. Irrespective of that, what I believe is that in the next decade, many of the countries would have accepted crypto as a medium of exchange for instant transaction and that will be the time when the technology will accepted world wide. You might be able to use your Bitcoin every where across the glob.

You are very right! I also think that popularity outstripped the technical characteristics of crypto. But I also have progress in the development of this sphere. Soon everything will be fine and we can use crypto in everyday life

This is a bit premature. But do you know the origin of encryption technology? In 2008, the origin of the United States was a minor crisis, so I think it is now 10 years. This is not too early. Ten years later, cryptocurrencies will dominate the world.

I don't believe that crypto has gone mainstream yet. It is still has long to travel. We are in the early stages. We can call crypto mainstream, if the real use case of crypto emerges as currency that is for doing transaction in daily life and merchants and vendors accept it as a means of payment. We are still quite far off from there.

Yes, the Crypto market has grown so fast and it seems to be out of control. Whales have taken advantage of that to manipulate the market with ease. In addition, hackers take advantage of the opportunity to infiltrate the accounts of investors to steal their money and many fraudulent ICO projects sprout.
I think the Crypto market needs a big adjustment. It should be protected and the law should be involved in transactions and investments.

Crypto is not yet popular to people and maybe in a couple of years it will trend.

That's why it good to invest while their price is low.

Although this idea has long time existed but the realization is in a few years ago right? and the evidence is still a lot of people who are not familiar with blockchain technology? I don't think crypto will become popular and mainstream anytime soon. spreading will not be as easy as people think. many obstacles such as regulation and so forth. crypto will not be mainstrema earlier

Just a note. Yes, it has "become mainstream" in the sense that everybody knows what is crypto now (or thinks they know). But it is not yet approached mainstream USE and we are still considered early adopters if we start USING it now. Remember a lot of people think they hold crypto but it is not the same as using it until you either start paying and getting paid in crypto, or start using it for your daily life activities.

At the current state, cryptocurrency is used solely for making profit and is treated as asset. When all the hype lowers and the market balances, we will be able to use it for its original purposes. It didn't go mainstream too early but the sooner people stop using it for making profit the better for the whole world and our future.

In my opinion crypto is currently at the same point of it's time line as the internett in the mid 90s.  In other words, the general public are aware of it, fearful of it, curious and waiting for someone else to do it and tell them how it is before they do anything.

I would say around 5 years of development of the industry before mass adoption happens as a lot of things need to happen in the industry before that will happen.

User Friendly
Lower Risk Platforms
Unfortunately some form of regulations to make people feel a level of secruity
And lots more

Yes and it's very bad. i think crypto become mainstream to early and (maybe) will die too early . i hope it won't be like this but we lost trend (((

The possibility is so because I know if crypto too quickly popular then the risk is also there and so I am sure will be mainstream let alone many people who use crypto as a transaction every day because we also many  much time for now

This is a very wrong thought and assumption, we are not yet mainstream if that is what you think, the mainstream you are talking about are those paid for content on forbes and bloomberg promoting their ICO, the adoption is there, I read a tweeter post today saying that 2% of those selling their cars now have Crypto as payment option

Yes it is. Cryptocurrencies become to early because many people do adopt and legalize it even in a shorter period of time.

 I can say mainstream because almost all people around the world did already recognized and know how to use crypto , there were now also business and companies that warmly partners with it .

Although cryptos arent primarily being use in offline transactions because they are still lack of features like they cant work fully independent without the help of internet connectivity.

There are stores online that are accepting bitcoin and if you'll check the volume of transfers, how can you determine that the tx is not coming from an exchange to wallet?

https://bitinfocharts.com/comparison/bitcoin-transactions.html

Check that chart on how many tx are there everyday and lets assume that most of it from exchange to wallet but you can't deny the fact that there are some use of it for daily living.

I am too old to know what or who you refer to as "normies".

I don't think crypro became popular too fast and I don't think crypto reached mainstream yet.

That out, I think what happened is too many people speculated and pumped money on crypto to make instant money and when the price started to correct, they did a massive cash out (bailed out) causing the crash.

What we need are investors who actually believe in it and not just for a quick cash.  People who actually learn/know/understand the potential of crypto technology.   I mean we all want quick cash but most members here (I hope) are more for the long haul, come good or bad times.

The future is here, and I am glad I caught it in its infancy.

Though it seen that you have said the right but we need this popularity and mainstream for public adoptions and used.  Some enthusiasts has taken it on themselves to enlighten the populace about bitcoin and others cryptocurrencies and without this popularity it might become very difficult to explain to the society the benefits of using cryptocurrencies for day today activities.

Crypto have not become mainstream yet, because it is nowhere near the popularity of bitcoin. So crypto is just catching up

Too early? it doesn't even touch the main deal for the popularity yet, media and some people are spreading negativity about it tainting it with its issues and past concerns that's what they want to drive the price down and sell their own stuff or they want to buy more bitcoins cheap, scaling issues and slow transactions may be fixed in due time it's not that bad at all in the current status.

The technology of cryptocurrencies is not yet ready for daily use, but it is going to this.
 Now cryptocurrencies are basically a speculative tool for earning.

This is totally coming out from a very ignorant person . Blockchain is not too "early" . It is in the world since 1980s and has taken so much time already to mature and reach to the people . Does it need more time ? I really don't think so . Moreover , technology matures with time and it is the fact for all other technologies which are even the biggest and oldest in the market .

It has not become mainstream too early.. I think we will become mainstream by end of 2019, it was just a small testpump in my eyes and more people will start to invest into crypto coins in the next couple of months!

In my opinion we are not yet mainstream. I know many computer scientists and IT consultants that do not understand Bitcoin or crypto in general. We are far away from mainstream...

I don'y think cryptocurrency is getting popular fast enough. It has been 9 years (if I am not mistaken) since the existence of the first cryptocurrency and yet we are not yet in the mainstream. Yes there are many people getting engaged to cryptocurrency but this does not mean we are in the mainstream already. Although I agree that we need to have much powerful technology to handle any issue before we go mainstream.

I think it can not make it fast because it will make the change imperfect then it will fail in the market, but if it is done slowly but surely, and gradually cryptocurrency is done change and refinement, then the possibility to succeed is very big, just wait my time, here is my opinion on this matter

It has not become mainstream yet, the popularity is temporary as you can see, it was just about hype due to increase in prices but popularity is constantly increasing.

What the industry need is needs is trustworthy leaders and advisors to teach how the cryptocurrency works . One of the reasons of the instability in the crypto industry is because some of the existing and current menbers along with the new ones lack knowledge on how the cryptocurrency really works. That is why what ww would need is to teach about it trough leaders and advisers.

While some may think too early is a possibility, i would say it didn't. Crypto actually came at a very opportune time and moment because the world is now able to appreciate the potential of blockchain. Everything has to start somewhere and i'm happy of where we are now, while people are doubting in bitcoin, i believe this is a good time to invest.

I agree with you that crypto is still very complex, with complicated wallets with long public and private keys and needing to buy a major cryptocurrency with fiat and transfer it to a trading exchange wallet to buy other altcoins which then need to be moved to a personal online or offline wallet to limit the risk of hacking and theft. This is only for cryptocurrency enthusiasts, and it’s estimated that less than 1% of the population own or use crypto - although over 50% of the world population on are aware of crypto and interested in owning and using it eventually. And I agree that increased ownership and usage in the general population will come slowly over the next 10-15 years, as better blockchain architecture is developed that will allow development of dApps able to compete with the current centralised applications most people and industries use every day - and as layers are developed on top of the blockchains and apps that makes using crypto as easy as registering and pushing a button, and not the complicated process it is now. But I do feel that eventually after 10-20 years using blockchain and crypto will become the norm for mist of the population except the 5% Luddites who are slow to adopt any new technology, and that increase in crypto usage and ownership to most of the population will lead to enormous gains for we early adopters if we invest in crypto wisely the next few years!

That makes sense, there are reports that mining bitcoin has a consumption of electricity more than a country.

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I forgot what country is that but greenpeace or any environment groups and activitists will also consider what you've said.

hope and think this will be happen nex 10 years ... crypto hast to be a little bit stablier than now =)
and the mining part should be discuest because greenpeace and co will not be happy with the power situation of mining

crypto will be used by people in the activity every day and it will definitely happen just take a long time. it's like a time bomb that will explode anytime.
but most importantly how to speed things up.

no it isnt, its been already 9years since the first crypto came out (which is bitcoin ) .  i think 9 years is already far to say that cryptos are still young.


of course there is. There is alot of changes happening on the crypro scene. few examples are those hardforks and segwits , these events may seem to be patch for cryptos to fix some issues and to further improve their service.

Overall , cryptos did not became mainstream too early because there were only few people who knows and uses it. Majority of the population are still dont have any idea on what is a crypto.

I would say that it must be better if they got in earlier so that they are not shouting for their losses instead they are appreciating the dip.

in my opinion, this cryptocurrency was still too young, there is no such a great change in it from its conventional payment method, beside the tag "decentralized" and "zero fee transaction". That's why i think we really need to change  the way we think about crypto. this one should be more developed, and not just become for a "online transaction".

Crypto has been around for quite a long time now but no-one was interested in it except a handful of people. Now that there is money to be made, everyone is joining in with new projects to accelerate mainstream adoption. Not too early at all, maybe a little late

I think it has. Hence why there are so many money hungry scammers creating terrible ICOs that provide nothing to token holders. People need to look towards cryptos that are establishing real revenues with real companies like AMB, ICX, and VEN.

I don't think that cryptocurrency is a mainstream yet. And also, I don't think the cryptocurrencies have got popular so fast, because many of the good projects are not very young.

Crypto deserve to be as popular as now, the features that crypto bring is nowhere to find in other stuff or currency. But by gaining popularity it also has many risk, many people will use it only to get profit for themselves and make loss to other, but in this case we should blame the bad people, not crypto.

Maybe we haven't become mainstream just yet, only people know about us now. Perhaps the real mainstream push will come in a year or two when we are able to use cryptos and the push in 2017 was a tester push. I could be wrong, but man wouldn't that be an even better ride if I were correct .

I dont see that crypto would have became mainstream.

It certainly true, that it got REALLY hyped, as it could make great headlines.

If it would be mainstream, then it would mean that we would be using cryptos for real-world usages. Utility tokens are not yet that popular in the the Average Joe's life. If it happens, then we could say that it became mainstream.

I disagree. Crypto will never be useable for daily-life transactions until it gets more traction. Nobody will want to build on crypto until it has a huge following. I'm afraid it doesn't go the other way around. The more people that use crypto today, the faster scaling technologies will be built and the faster we grow.

This is a consequence for the world of cryptos, because society will easily realize that the use of transaction systems offered by cryptocurrency can be well received by everyone.

I do not think you have a slow mind and think popular cryptocurrency is too fast. With such rapid technological developments nowadays, everyone will have a great curiosity, coupled with the many people who benefit from cryptocurrency easily they will also use cryptocurrency.

bitcoin launched in 2009 and this is already 8 years passed, I think it makes sense. only true that last year the movement of cryptocurrency was too fast, so it is normal if this year to experience bad bleeding market repeatedly, this is very normal as a means of balancing before finally cryptocurrency will meet its glory peak. let's wait 1-2 years later

It is simply becoming known to certain people the word Bitcoin, Cryptocurrency and Digital money But I really think even if there are many well known stuff about Cryptocurrency many people are always thinking that it is just a scam and you will lose money more than gaining from it which is kind of truth in a little percentage of it, Well I really think it is OK for Cryptocurrecny to be involve in mainstream media but not in the bad side, So many people will really understand all the usefulness and may gain little knowledge about it.

Crypto is nowhere close to mainstream yet. Most people may have heard the name Bitcoin in news but very few understand what it does or own any. They do not know about most other cryptos in the same way so it will take some years before crypto is mainstream and people are buying coffee with crypto.

I don't think we are near to even popular as yet. Yes, there was a huge influx of users in the late 2017 and a lot of media involvements but we are far far away to be considered as a mainstream. for the daily uses, it will take some time yet because as you mentioned we need to address scaling and other issues so that the normal users can use crypto easily.

I think a lot of people heard about cryptocurrency but a liitle knowledge regarding on it. I believe we are still on a normal transition pace in the cryptocurrency industry wherein little by little we are growing and other countries are starting to use coins also.

This problem constantly bothers me, but I did not formulate it. Now the crypto is a hype with FOMO and with panic. I would prefer quiet fundamental growth from the real implementation of crypto to life than sharp pumps&dumps.

It is maturing, and everything we have seen is normal in that process. You can use it as digital gold, as it is far superior to all other stores of value, and people havent even grasped that yet, let alone how superior it is for transacting over internet or remittances. It is not popular yet, but it will be

I agreed, crypto still relatively niche or small at the moment. Crypto still short of some big names that can drive another level of craze/hype. At the moment, no one is enticed or has any urge to use crypto.

Crypto is very very far from being mainstream. The money all around the world is nearly hundred trillion dollars and crypto market is not even worth half of a trillion dollars. This is not negative because this means that our room for growth is still very wide.

Isn't that what is currently happening? Crypto never became mainstream yet. December/January was but a taste of what is to come when it finally does go mainstream but it cannot go mainstream until the infrastructure is there to support it. It is still very early in this ride man.

it is in no way mainstream. go ask 10 random people on the street if they have ever interacted with any cryptocurrency in any way and you would be lucky to find one who has. maybe you have to ask 100 to find one. i'm talking about outside of your circle of friends and family

Bitcoin wasn't that popular before because of it's price. It became known better and better because of it's price making people regret that they should've known or invested bitcoin earlier. Bitcoin didn't became mainstream too early because it took a lot of years before it's price went up like this and no one really expected this to happen. And speaking of technology in bitcoin, I think that will also continue to develop.

I somewhat agree that we are growing too fast. A classic example is the Dec 17 period where there is a parabolic run-up in BTC price due to increased awareness and advertisements via traditional news channel, etc. However, the technology is not mature for it to be adopted in the real-world, where there are many issues such as scaling, transaction fees, etc. The community must unite and grow and mature the cryptocurrency scene, point out potential scams, and together, we will all benefit!

It's not even close to mainstream yet.  the market is still projected to grow into the trillions.

if everyone knows and knows the crypto, then I'm sure its use will continue to increase and can create a high demand. it's just a matter of time and if everyone has benefited from crypto, then I'm sure crypto is more popular than it is today.

before success can be achieved, then there are many processes to go through, challenges, bans and all that takes time to get through it.

I don't think we are mainstream yet, so its not too early.

All the average Joe's from Dec/Jan were just here to invest and try and make a fast buck, not to use the technology as a mainstream product.

This year has some great product releases on the blockchain so will be interesting to see how it fairs by December however.

I think so nowadays, not too many stores or services that accept cryptocurrency as payment but some Blockchain have problems such as slow transaction and scalability, this shows the unpreparedness of cryptocurrency for mass use in daily transactions, actually we can process transactions quickly by utilizing payment cards like TenX but it still has weaknesses such as limited transactions and fees

Bitcoin is not being used for everyday transactions (once a month from exchange to wallet is not everyday transaction. Only in few countries it is possible to go shoping only with bitcoin wallet, bet even there only minority use it). We have 200k transactions daily on bitcoin. Visa have 150 mil. With that amount transaction fees will be anormous.



Op - very interesting topic. I dont think bitcoin is that much popular yet. But you are right about it not beeing ready for massive adoption. But in Consensus 2018 it was topic nr 1 - creating user frendly environment for newbie user. Make him possible to transfer bitcoin to eth wallet without knowing its stupid (bitcoins will automatycaly be trade to eth). Becouse current user have to have knowledge to use crypto.

I don't think so, bitcoin has started since 2009 and I guess it's starting to mature so it's also a decade few more months to go.

It's not the case for you but the fact that it can be use for daily transactions and it's real happening in the real world.

The devs won't figure out the problems if we'll not let new comers to get in.

There are portable wallets that are in mobile which can easily use even the user isn't technically knowledgeable at it. There's no need to spoon feed them as we are in the tech world now where everything is starting to digitalize.

Where do you see the "normies"?
My experience is that many people have heard of BTC and crypto (due to the news coverage in the last bubble), but only a very small minority uses it or roughly knows how it works. What crypto needs is easy-to-use apps and clients that even the dumbest user can use. (something like a crypto whatsapp that can be used to pay simply). Until then a majority won't be reached I'm afraid.

Hear me out: I think we got too popular too fast. The normal person on the ground would expect to use crypto much more for daily-life transactions but this is not currently the case. Maybe we needed some more time for the technology to mature (no scaling issues, slow transactions, etc) THEN the normies come in. Right?