Topic: Do you foresee crypto payments going mainstream soon? Why or why not? (Read 685 times)

Absolutely.

Currently, traditional payments remain dominant. However, there is a strong possibility that crypto-payments will overtake them soon. One main obstacle to the widespread adoption of Bitcoin is the unstable internet infrastructure in certain countries. This can make it difficult for people to access and use Bitcoin, hindering its potential as a global currency. Another challenge is the lack of awareness and understanding of Bitcoin, making people hesitate.

Here in our country, there is an island wherein some stores that accepting bitcoin as a payment for their offered services, it's because there's a lot of foreign tourist comes there but I agree that this will not be going mainstream for the next 5 years because we are aware that not all people has an idea about bitcoin currency. the value of bitcoin and other crypto is extremely volatile which is considered as very risky if they consider or accepting it as a means of payment in the future.

We are stll far away from those days as of now it could only be used as cross border P2P payment system but it won't become mainstream soon or never become mainstream due to volatility and factors like what if the value of the crypto has increased or decreased while making the payment and who would be responsible to compensate? There ar projects where you get an option to send it via crypto and recipient will get it in fiat of their choice which has to be selected become sending, example Utrust. But people will always be hesitant to use crypto as payment for business but rather stablecoins will be widely used without any doubt.

I don't think so because in fiat purchases you can make a chargeback if you are not satisfied with purchase here you can't. Although, this only applies in case seller is fraudulent and isn't willing to refund you manually.

I have made payments in crypto for mobile recharges, vps purchases, ecom gift cards — my experiences have been so good that I prefer it over using fiat. As long you stick with reputed sellers, crypto works like a charm.

However, if ever you deal with fraudulent party while dealing in crypto, and you are not satisfied with purchase you can consider your money lost.

Thanks for bringing this for discussion. First thing I will say here is my take on bitcoin in the future. Bitcoin has helped many people in the world and it will still help more and the more it helps people, the more people come to know about it and use it. And I will continue invest in bitcoin. The massive and the explosive adoption of bitcoin is coming and that time has come bitcoin will become thne mainstream in the finacial cycle to control the economy but what fears me most the transaction fee because people might not bear it when the fee is very high.

As I said earlier, because of the transaction, the traditonal fiat will still be in used but whereby the transaction fee is very low forever then bitcoin will take over the economy.

The only way I could see this happening soon is if governments created a bunch of regulations and suddenly everyone was on board with allowing themselves to be monitored for even the smallest transaction, and since I still see a lot of reticence to accept this from the people that have adopted bitcoin and other cryptocurrencies then I think this will  not happen as soon as we may have wanted, however if the economy began to worsen once again and this time it did not recovered then I could see an increase on the number of people using bitcoin P2P as Satoshi intended.

Making crypto a mainstream transaction tool is actually not currently possible. Because honestly, I feel that there are still many factors that influence and hinder this. Just like crypto users in the world who can be said to still be a minority. And limited internet networks in remote areas. However, if we talk about the future, crypto can indeed be used as an efficient transaction tool. Because in the future the internet network will definitely become more evenly distributed and many people will definitely become more familiar with crypto. Therefore, it is possible that in the future crypto will become a good transaction tool.

It's already on the verge of going mainstream as we speak. A lot of people in the FinTech industry's talking about incorporating bitcoin and crypto payments into their list of accepted payment options, and if anything this is indicative that the industry's already due for a massive paradigm shift in the payment processing aspect. I would know since I've been working in FinTech for the past three years and have been behind the scenes for quite some time now.

The biggest factor that holds back this sadly, is the prejudice and lack of factual information of people towards cryptocurrencies. For most, it's either they don't know about bitcoin or crypto, or they do know about it but they saw it on the news and it was about people using cryptocurrencies as a facade for their multi-level marketing scam project. If we could have a way to counteract this, it would signal massive changes and progress in the payment processing world, I'm sure of it.

Bitcoin have turned to be the effective way of payment, but people weren't ready to spend it. The ultimate of people is to accumulate as much possible considering it an investment that can change their lives. This is the major reason why it is really hard to see bitcoin into mainstream payments. Another thing, being into cryptocurrency usage we've got an overview that people are much aware of it. The reality is against it. Very small percentage of people around the world have known about it and surely it takes more time for people to know about bitcoin and use it in real-time.

I thought Walmart is already accepting btc via LN, however,  I don't know if they are actually implementing it in their stores.
But for BTC ATMs, it was in the news way back in 2021 that they will be installing about 200 BTC ATMs across the US.
However, we don't know to what extent the adoption has been going on when it comes to payment method.
But the rising fees may hinder the payment adoption, unless, merchants will integrate other cheaper alts in their payment options.

Right from when people realized how efficient the payment via Bitcoin is, so many Bitcoiners or businessmen who know about Bitcoin started using Bitcoin payment because they know that the transactions are reliable in the sense that there cannot be any denial whether the customer has received the coin or not. For example, if you send Bitcoin to your customers, you can track the transaction through the blockchain and you will know when the person receives the coin, but if it's through the traditional financial system, you might not know when the customer receives the payment. From your end, the transaction could be successful, but the customer might not yet receive the money. If you did carry out that payment with Bitcoin and all the network confirmations have been processed, then you are sure that the customer has received the payment. I think in the future, people will get to use Bitcoin payments more than they are already doing.

The adoption on the internet is faster than in the local adoption but we are surely going there for we are already in the digital stage where governments are encouraging digital payments. Once a big store like Walmart or something like this accepts BTC, they will also be considering other altcoins like ETH or maybe those with low transaction fees. It's just preference I think but the media nowadays are already broadcasting crypto prices just like currency exchange.

We should be expecting that gradually and with time we are going to be seeing massive adoption of cryptocurrency in the world.
The government of some regions might still be think on whether they should accept cryptocurrency for mode of exchanges looking at the high rate people have started investing in cryptocurrency. The adoption of cryptocurrency has already started and with time we might be surprised to see more use of it especially for payment of services and others.

You need to be specific about the blockchain. Do you mean bitcoin or other altcoin blockchains? When you said cryptocurrency, you are generalizing and this is bitcoin board, so I assumed you are talking about bitcoin future and payment in the mainstream.

As of yesterday, Satoshi bitcoin lightning wallet exit US market and that's due to regulations and after what happened to Binance court case. With this, I don't think bitcoin payments will foster that much because all eyes are on start up that are trying to push this adoption to the mainstream.


There is no way bitcoin payment mainstream will work without the adoption but the question is, will adoption work without regulations? Will the regulations favour bitcoin and protect the protocol? These are the unanswered questions because the more bitcoin want to grow, the more people are trying to kill this adoption especially those who hold high stake in banking Finance, they don't want it to grow despite the lightning network that is trying to scale bitcoin network.

There is only one obstacle, the transaction scaling and it's fee structure. Take the example of current situation where we had Bitcoin price change in the positive direction and entire market got flooded with number of pending transaction.  The fees are off the roof and it's challenging to make small amount of transactions. These are the challenges that might just keep Bitcoin cornered from getting used in main stream market. The world moves very fast. The live transactions that happen on everyday basis out numbers the Bitcoin transaction. Peeps choose it that way for a reason. No one would use Bitcoin to buy bottle of wine and turkey over the counter where it would take them hours to process the transaction and pay more in fees than what they bought. I think scaling issue will always be there no matter what we do. Lightening is option but again we need to streamline it.

Well, good thing that the people in your country are adopting online payment which includes the use of Bitcoin unlike in our place where only a few people adopt the situation while many are still comfortable with fiat money. As seen in the current state of crypto adoption in our country, that is too far for crypto from becoming mainstream or to say, crypto will be on every business payment option.
 
Might it will happen in the future but I was not sure if I was still able to witness that time or not. Not I say the development is slow but the adoption is quite very low and this is because of its volatility and unstable transaction fees. To hard to encourage businessmen to accept the deal as I understand the high risk on their part as well.

No. What I see is payments with CBDCs going mainstream relatively soon. I am sure that as soon as it is launched there will be a majority of people happy to use it, and those of us who care about our privacy, paying with cash and using bitcoin responsibly will be in the minority.

If you want to become mainstream in crypto transactions, I think it will take quite a long time because countries will not remain silent, and will think or not be careless in making regulations for the flow of cryptocurrency transactions in their country. The reason is, each country already has its own transactions, namely its own currency.

Indeed, crypto provides faster transactions compared to conventional ones in very large amounts, conventional ones take days while crypto makes international transactions instant and the transaction costs are very cheap or low. As we all know, currently there are many big brands that accept CryptoCurrency payments,

Traditional payment methods will still exist, because there are still many people who don't know about the world of cryptocurrencies, we don't know for sure how in the future crypto will dominate the world of global transactions

Crypto payments are now starting to be seen in some stores or shops that accept crypto, so I guess this is already a good start for crypto payments to become mainstream soon. Although crypto adoption might not be that too high, but I believe that there is a huge increase on the number of people that have acknowledged crypto and utilize it according to its purpose. While its adoption is still in the process, but I'm optimistic of the positive result it will show later on.

However, there's no doubt that using crypto as a payment has faced a lot of interrogations and even negative accusations. But we'll just leave it to the people on how far they have perceived and understand on the reality usage of crypto, most especially bitcoin.

There are many people who believe in cryptocurrency by ignoring government regulations because the crypto space is a space for everyone who has nothing to do with any government, so you don't need to pay attention to state or government regulations as long as you are still comfortable enough using cryptocurrency. Because most people who have followed the flow of cryptocurrency until now will never doubt that cryptocurrency is increasingly existing and popular among the public even though they also continue to pay attention to any changes that sometimes occur suddenly.

As long as there is still a lack of understanding about Bitcoin among the public, it will be difficult for it to become a mainstream payment. where there will be pros and cons in using payments using bitcoin,
and traditional payments will remain the main thing and will not be replaced

In the near future, crypto payments will probably not become mainstream. There is some hope that this will happen in the future.

We are on the verge of significant changes in the conduct of transactions, but this is not related to crypto payments and traditional payment methods (cash) are rapidly losing ground. Online payments are coming onto the scene, and very soon this will be taken over by payments using CBDC.

There is only one obstacle - governments and regulators, as well as the still distrust of the mass user (ordinary people) in the crypto.

Cryptocurrencies in their original form are difficult for most of the population to understand and use. They need something simpler and more understandable, which is how CBDC is created. In the struggle between cryptocurrencies, CBDC will win in the hands of ordinary people.

Of course not and that's why you see regulations left and right. But again, let's look at the side about not able to beat the new system so, instead of thinking of beating and stopping it. They'll join.

They won't replace the current system. What they'll do is just to have another alternative system and that's in the form of CBDC. Because it hurts them to say and adopt directly Bitcoin.

And you're right, it is decentralized so they have no control over it.

It won't become popular worldwide quickly, but it is entirely possible that the majority of the world will use cryptocurrency as an alternative in the next 5 years. I know that there are still some countries and regions that do not have widespread access to the Internet or smartphones, but we have also seen the world develop very quickly in recent years. Therefore, I believe that countries that still have some of the problems you mentioned will soon be resolved and overcome in the next few years. And once people can use phones and the internet, using cryptocurrency is inevitable.

Here in my Country, there are many people who use online payments, and people are adopting this mode of payments very fast. People prefer to pay this way because it is less hassle than carrying cash, it is more risky especially if you are carrying a large amount of money. The transaction will be easier and there is no need to travel far. So it is very possible that crypto payments will become mainstream in the future especially if they see that the price of Bitcoin is not so volatile.

How long do you mean by soon?
I don't think crypto payment system will be going mainstream in the next 5 years, in the first world country, maybe, but for developing countries, the infrastructure is not ready yet, the internet connection is not wide spread, and not really reliable. Even in my place which is quite modern, there are often trouble when I tried to pay with card.

Should we hope for that to happen? I don't think the government will support the idea that crypto will dominate as payment options as they are preferred for fiat. Until there is such low support of the government, there is also low support of the merchants and business owners to take risks and consider this option. In fact, with the recent increase in fees, I don't think you would spend your Bitcoin but for sure, you use fiat.

This is my take, crypto will be considered as a payment option but if we think about going to the mainstream, that is somewhat difficult. Unless the government never prints fiat money anymore.

Probably the biggest setback to merchant adoption at this point is price volatility... Price of BTC and all other cryptos moves up and down too much for businesses to do anything other than sell it for fiat right away, which usually incurs some kind of fee between 0.5% - 3%. So by accepting crypto, merchants take a bit of a hit because they must calculate business expenses in terms of a more stable currency (fiat).

Most of my income has been crypto-only for a few years, so I can tell you there is still some friction when cashing out to fiat, no matter how you do it. My customers obviously use crypto for payments as well but we are pretty far from the "mainstream."

how long that future you are asking? if this is for couple of years then I don't think it is possible because there are lots of regulation and denial we need to established .
why not believe that both must act together? why trying to distinguish which is which when if both are being used then this will favor all of us not only in crypto but in the whole world.

you know what slows the process? those are people like you that wanted to keep tackling these kind of topic but does not contributing to their dream adoptions .

IMO, adoption could speed up once many influencers demonstrate how to use it as a payment tool. The real potential lies in crypto serving as an asset with dual functions rather than just being currency.

The biggest challenge, in my view, is the infrastructure. Irreversible transactions require building infrastructure from those involved in the business, such as merchants and buyers. The government might only play a supervisory role, as long as crypto doesn't offer advantages to the government like FIAT does. In that case, the government might have a more passive response.

As the user base grows, it's like an unbroken chain where crypto becomes more popular with more people using it.

There is possibility of bitcoin transactions going mainstream, but I differ that it'll be soon, because fiat transfers are cheaper and faster. Except certain things are looked into, like having a single rate for certain amounts as transaction fees, but it's not possible because mining fees are not determined by one office. But come to think of it,  bitcoin is decentralized so if any change is expected to happen, who will champion it? If it were centralized then it's central authority can affect the innovative change. I guest we're stuck with bitcoin transaction fees that fluctuates, at times it gets very high, just like what we're experiencing now.

I like how you stylishly didn't limit payment option to Bitcoin alone but to the entire crypto industry. Anyway, to put it mildly, even if cryptocurrency were to be adopted as a mainstream payment option, it's more likely not going to be Bitcoin as it were now. Apart from its transaction fees being very high whenever the Blockchain is clogged up, Bitcoin supply is small and that's going to make it scarcer than it's already.

Banks will be the biggest losers if bitcoin becomes a popular means of payment to replace current fiat currencies. And banks are the government's backyard, do you think they will let that happen, bitcoin becomes a means of payment that completely replaces fiat and they gain nothing?
I think cryptocurrencies will become mainstream and if the government decides to replace the current payment system with cryptocurrencies they will certainly not choose bitcoin, a currency they cannot control.

Well cryptocurrency payments are kinda like the cool kids at the finance party, gaining more popularity. It could totally go mainstream soon with more people and businesses getting into it. But of course there are still some hurdles like rules and government should pay attention to it. Lets not count out the traditional payments just yet. Nothings constant except change, right?

Traditional payment methods still survive amidst the development of crypto. But it seems that it will still take time for crypto to become a major means of payment. That's because there must be approval from the government to accept crypto as the main means of payment alongside fiat.

But now, many people are starting to accept crypto as payment. Meanwhile, the government is still preparing everything before they actually accept crypto. And we, as crypto users, also have to prepare ourselves so that when it becomes real, we are ready.

But crypto will become mainstream. Seeing what has happened so far has made people start using crypto. Currently, most people still use crypto as an investment. But after approval from the government, it will become a reality. We will see an unprecedented change in finance.

They will never be mainstream unless the public is essentially forced to use Bitcoin as the only alternative for private payments, that is, once governments remove physical cash, then the only alternative to pay without reporting to someone what you are doing, will be to use Bitcoin (and I assume, some other altcoins). The problem with BTC will be the fees, so in order for anyone to bother, if we really move smaller payments to LN, it will need to be insanely useful and accessible through your standard phone. Nobody is going to bother, at the mainstream level, to deal with convoluted operations like opening and closing channels and so on. They'll probably end up just giving up on any privacy and use whatever CBDC they are issued.

Yes, I have believed that the payments will be popular for cryptocurrencies and mainly for Bitcoin because that's actually the purpose of it. To become a p2p payment system where there is no need for any third party interaction.

But I guess that we're still going back to the traditional because some companies and platforms are working as the middleman to help those companies that are not yet popular with Bitcoin/crypto to convert the payments from there.

Anyway, we're seeing many companies adopting it as an accepted payment apart from the other traditional payment methods that they have.

Indeed, the reality is like that, this is probably something that Bitcoin developers are still dealing with today. Focus on this is still essential if Bitcoin is to pass the payout milestone. According to my observations, fees and transaction congestion on Bitcoin will be very serious this time, why? Yes, this is caused by project activities on Bitcoin's BRC-20 network which I think will experience a big explosion. Moreover, recently ORDI has also become the main perpetrator of BTC network congestion, causing transaction fees to increase many times over.

As much as I wanted to see crypto payment go mainstream, I think it still needs some time to be fully accepted by merchants and financial institutions.  And I believe only  a handful of this cryptocurrency are qualifies for such integration.

So basically I foresee that cryptocurrency specifically Bitcoin will be used as a mainstream crypto payment.  We have heard that the government is adjusting its financial policies in order to give Bitcoin a space in its regulation.  Once Bitcoin is fully regulated I believe that will be the time when money processors will fully acknowledge Bitcoin and that will be the time when Bitcoin and other cyrptocurrency will become a mainstream payment system.

I don't forsee bitcoin payment going mainstream anytime soon, because there are major factors that will militate against it. One major factor that'll be against bitcoin payment going mainstream is the transaction fee for small items, it won't make financial sense to buy a tin of milk and pay transaction fee that will double the price. Presently that we're faced with congestion in the mempool, that's making transaction fees to skyrocket, it will not encourage customers to choose bitcoin, as option of payment. The complexity of lightening network does not help issues either, as both buyer and seller needs to have it.

Traditional fiat transfer still works better, cheaper and faster than bitcoin, so as it is now, I'll rather make payments from my bank account because it's more convenient and cheaper. I believe that bitcoin has lost it's original purpose of p2p payment method, it's now mainly an asset for trading and investment. I hope that sometime in the future people will totally embrace the decentralized system of payment that bitcoin brings, but until then it's fiat payment for me.

The crypto space is growing at a rapid speed recently but is it enough? I don't think this is going to be a smooth ride on the road for crypto payment. Compare the users of crypto to the traditional payment method users. You can see the bigger picture there. I am not against Bitcoin or anything but it is going to be a long road for this to become a reality. Imagine people still not knowing about what a smartphone is and how the internet works. You can not expect them to use cryptocurrency as a payment method right?

Maybe not this generation but the next generation who will be so much advanced in technology will be able to fully adapt to Bitcoin and use it as a payment method. But the amount of people who are using it right now will face difficulties because Bitcoin is yet to be accepted worldwide and the reason it is still not accepted is because not everyone knows how to use it. So I think this is why it will be a bit difficult to see crypto payments going mainstream soon. Ii will happen one day but not right now.

The demand for Bitcoin does not equate to it being inculcated as payment system in everyday life of people. They are different ways and approach to Bitcoin and I can tell you that the demand you see is purely investment driven. People see Bitcoin as a good investment opportunity as they can buy and hold without doing anything further yet their money will grow significantly.

Buying Bitcoin and holding it is different from using Bitcoin for our daily activities. This post is supposed to challenge those of us who believe in this fantastic technology, to think of how we can create innovative ways Bitcoin can be used in daily business activities of the people of all ages and culture; a way that Bitcoin will even become a preferred option. Until we get to this stage, the percentage of human population involved in Bitcoin will not increase exponentially as we are all expecting.

I am optimistic that crypto payments will be mainstream in the future but certainly, the process will be tough and hard. The government should favor first crypto and legalize them as crypto payments so that the people will not doubt crypto that its a tool used by scammers or criminals. Instead, the government should start supporting crypto and should encourage all citizens to get educated about crypto so that they will find it easier and faster to transact crypto more than fiat.

However, when will be the government will care about crypto and will start to be more open about crypto. As long as fiat exists, crypto will considered be a threat to existing legal currency.

The demand for Bitcoin as a currency is still up in the air. Some people believe that Bitcoin has the potential to become a major global currency, while others believe that it will only be used as an investment asset or a trading tool.

I believe that Bitcoin has the potential to be widely accepted in the future. However, I don't think this will happen overnight. Bitcoin needs to overcome some challenges before it can become a viable option for everyday consumers.

As for obstacles, I can not really think of any right now. But yes of course. Crypto payment is the leading way. In fact, you will be thrilled if you saw the statistics of people who have already adopted and applied crypto payment in their stores and businesses. People are buying coffee with Bitcoin (I think the challenge here is the transaction fees, just like what’s going on currently). I’ve seen stores (both online and offline) that accept certain cryptocurrencies too. The fact that crypto transactions are seamless speaks for why it is being adopted.

no despite the progress in spreading awareness about crypto and more countries learning to be more lenient regarding crypto, the general public is still not very much accepting

most people wouldn’t accept crypto as a mean of everyday payment because its volatility will challenge people’s ability to spend another reason why the general public is also not very accepting is because most of them have preconceived notions about crypto which makes them hesitant and suspicious of the projects a huge part of the  population still think crypto is a scam they can’t accept something they don’t trust

Many people want and hope that Bitcoin will become one of the mainstream digital currencies, which is often used by many people in all things and factors, shopping, paying school fees, hotels, and so on, everyone hopes so.

But whatever, even though Bitcoin can be done in ways such as investing and trading, it's all done online, it can't be used offline, that's the main problem.
There are many reasons and factors that Bitcoin cannot be made mainstream.

1. Bitcoin transactions can only be made by activating the internet.
2. Bitcoin can be used with a laptop or Android.

These two factors, you can already think about what if you go to a remote access area where internet access is slow, of course all of that will hinder you in all processes, Thus, there are many other factors that prevent Bitcoin from becoming mainstream, as well as the costs incurred in carrying out transactions.

   Cryptocurrencies are gradually making their way toward mainstream recognition, a journey supported by remarkable adoption and acceptance. As more individuals grasp the concept of digital assets and blockchain tech, the route to widespread adoption becomes clearer. Projects like LineaBank (LAB) play an indirect role in pushing cryptocurrencies to the mainstream. With its innovative lending protocol on ConsenSys' zkEVM blockchain, LineaBank sets an example of impactful advancements. By offering privacy, scalability, and a non-custodial platform, LineaBank empowers users with greater financial control.
   Notably, the listing of LineaBank on platforms like Bitget indirectly contributes to this journey, adding to the accessibility and usability of cryptocurrencies. While regulatory clarity and improved infrastructure are vital for full mainstream adoption, the continuous progress in adoption, institutional interest, and merchant acceptance indicate a promising path ahead.

While Bitcoin has witnessed significant growth and utility across various domains over the past 15 years, mainstream adoption as a daily payment method faces challenges. The current pace of adoption might not indicate an imminent shift. Many view Bitcoin more as a store of value than a medium of exchange, often opting for fiat-based debit cards for everyday transactions. Overcoming this perception hurdle and enhancing usability are key factors for broader acceptance. Additionally, regulatory clarity, scalability, and improved user experience will play pivotal roles in steering crypto payments toward mainstream integration. It's an evolving journey, and community insights are crucial in navigating these dynamics.

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Great observations! Indeed, while Bitcoin has made strides, mainstream adoption for daily transactions faces hurdles. Perception of Bitcoin as a store of value rather than a medium of exchange slows adoption. Fiat-based debit cards remain popular for day-to-day use. To break through, addressing usability issues and changing this perception is vital. Regulatory clarity, scalability, and an improved user experience are key factors for broader acceptance. This journey requires a collaborative effort to navigate evolving dynamics. Your insights contribute significantly to this ongoing dialogue. Let's continue exploring the possibilities and challenges together as the crypto payment landscape evolves.

That is 100% correct insight. I mean it is not like we will never see it, I am not saying that it is impossible, of course "one day" it could happen and that is fine, but we need to remember that this is going to be something way down the line because there are so many issues at hand right now. That is why I do not really consider the situation all that different or difficult, we need to just make sure that we are doing as fine as possible.

This is why it is going to be quite important to notice what's good and what's not, that has to be the key factor here. I believe that the best thing to do right now would be making sure that we are profiting from it, and that has to be the only thing we are doing with crypto at the moment.

We need to find a way to mass-adopt recurring payments before it can go mainstream. Even I am forgetting to top up my accounts every once in a while and it's almost costed me.

And if this is like someone like me is experiencing, imagine the thought process of the average person - they will be clueless about this.

Definitely. Not only because crypto nowadays are popular but also because there’s a lot of project now that makes crypto payments convenient like crypto debit cards that offer payment directly using crypto while earning some rebate on purchase.

The existence crypto payment processors makes everything possible to purchase now using crypto unlike before that you will need to convert first to fiat just to purchase goods that you want.

I have always believed that Bitcoin might become mainstream one day, but I've never believed it would happen within a short period. And I have also never believed Bitcoin or crypto will replace the traditional methods of payment.
So yeah, I believe Bitcoin adoption will grow exponentially and more people will begin to accept it, but it won't be "soon".
Currently, there are too many "obstacles" stopping Bitcoin from being globally adopted as a method of payment.

There's the problem of high transaction fees,
There's the problem of volatility, which may be an advantage to some, but it's a disadvantage to others. Imagine using Bitcoin as a medium of exchange as a business and you receive payment worth $200 and by the end of the day, you'll find out that your $200 has turned into $195. It may seem like a small amount, but nobody would be pleased with that.

Then there's also the fact that not everybody has gone digital. For Bitcoin to go mainstream, I believe more people have to be digital. Currently, it is estimated that about 65% of the world is using the Internet. Out of this 65%, I'm certain a good number of them are just novices who do not really know how to use the internet well.

It's been almost 15 years since Bitcoin creation, and while we've seen some adoption of Bitcoin as payment and quite significant adoption of Bitcoin in general (for trading, for international transfers, for gambling, as an investment), I don't think it's been happening fast enough to expect mainstream adoption any time soon. The pace just isn't there, and I think the demand for Bitcoin as a currency isn't there either. Even for people who use Bitcoin, it's often something to hodl rather than to spend, and they don't mind using debit cards with fiat for regular payments.

I understand you are new in the forum from your replies but obviously you are much experienced in cryptocurrency... perhaps you are learning so fast and that is impressive.

On the aspect of reply, you can actually reply to so many comments in one post and not to reply them individually in several posts which make it appear like spamming.

This agree with my views as well. We have a relatively new technology here that requires patience, more innovations and some level of faith.

Cryptocurrencies are gradually becoming more popular and I also believe that cryptocurrencies can become a means of payment in the future . But the problem is , I don't think bitcoin will be chosen as a means of payment to replace the current monetary system. Be it some altcoin or maybe a government CBDC, the government will never allow a decentralized currency to replace their monetary system. They will only choose currencies they can control, and bitcoin is the only currency they cannot control.

Absolutely, I understand the concerns raised by the community member. It's crucial to acknowledge the challenges hindering the mainstream adoption of crypto payments. Transaction fees and confirmation times, especially with Bitcoin, have indeed been points of contention. While the decentralized nature of cryptocurrencies brings advantages like privacy and speed, it's essential to address these issues for wider acceptance.

In the evolving landscape of finance, overcoming such obstacles requires collaborative efforts within the crypto community. Solutions like layer 2 scaling solutions, ongoing technological advancements, and increased education about the benefits of cryptocurrencies can contribute to a more seamless and cost-effective user experience.

It's vital to recognize that the path to mainstream adoption is a dynamic process. As the industry continues to innovate, addressing user concerns and enhancing the overall usability of crypto payment systems will play a pivotal role. Patience and ongoing dialogue within the community will be key in navigating these challenges and building a foundation for broader acceptance in the future.

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Great points! Bitcoin has indeed demonstrated its value as a revolutionary force in finance. Its growing adoption, role in the economy, and emphasis on privacy and security contribute to its relevance. However, the journey to mainstream adoption involves overcoming challenges such as regulatory concerns and scalability issues. The ongoing discourse and exploration of these aspects are crucial for a comprehensive understanding of crypto's future in mainstream payments. Let's continue to analyze both the benefits and hurdles to foster a more inclusive discussion on the transformative potential of cryptocurrencies.

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Certainly, I appreciate the community member's thoughtful response. Regarding the scalability concerns with Bitcoin transactions, it's a valid point. The evolution of the Lightning Network does show promise in addressing these issues, potentially making on-chain transactions more efficient for day-to-day purposes.

At Coinremitter, we recognize the importance of scalability and efficiency in crypto payments. While Bitcoin's journey to replace traditional fiat systems may take time, it's encouraging to witness ongoing developments to enhance its usability. It's essential for the crypto community to collaboratively explore solutions, fostering a robust and inclusive ecosystem for mainstream adoption.

As the landscape evolves, challenges persist, but continued dialogue and innovation pave the way for a more accessible and widely accepted future for cryptocurrency payments. Let's remain engaged in these discussions to contribute to the growth and maturation of the crypto space.

I am not seeing cryptocurrency become a mainstream payment because of the mindset of 80% of people who see cryptocurrency as an asset to invest in due to its volatility. A lot of people see crypto as an investment asset. One of the factors contributing to the potential mainstream adoption of crypto payments is when the crypto market is bullish or stable, and people have enough profit to want to use it for payments, but if the market is bearish, a lot of people will hold on to their cryptocurrency based on their mindset towards cryptocurrency. I think the volatility contributes to why crypto is not a mainstream form of payment.

I'm optimistic about crypto currency payments will be mainstream in the future but it is too soon for it to be called "soon" I mean its too soon to consider that the moment is neat because as we know crypto currencies are complex and hard to maintain as its value it changing because of the volatility, there are some establishments or business that allowed or accepting the use of crypto as a payment but it is few, also crypto currency payments are more on online transactions and also a few, those few who accepts cryptocurrency payments are the one that take the risk and stepping up to the new technology which is a great sight but many still hesitant about adopting it, also why I said that its still far for crypto to be mainstream  is that there are a lot to be considered before filly adopting it.

For now nope I don't see it to happen soon since there are so many issues arise and it can actually deflect any plans for doing this since legal entities for sure will not agree to make this to happen. Maybe it should fix things up first like the current issue of higher fees and also its fast or other that can cause huge disturbance to its user, if that will be eliminate in the scene then provably legal authorities which is in charge with its adoption will allow to use bitcoin to be use on mainstream. For now to many things need to fix so that all of the speculations posted will possibly happen. Bitcoin has high potential to be added as good alternative for payments and other usage so lets hope for the best that government will consider this so it could bring a huge convenience to the users also to increase its user base globally.

Honestly, I'd never see it. Why? With instability behavior of the market price and its transaction fees and time of confirmation, these are the factors that make some business owners not see it was a good idea. They'd prefer to use fiat for fast transactions and no risk of losing any amount. In fact, many have tried already and it was not successfully gaining support from the community knowing that we're still not prepared for this and of course, with the lack of knowledge, we can't expect them to use that.

I hope I could be wrong but for me, Bitcoin is just known as a profitable investment, not a payment option.

Stablecoins are becoming increasingly popular, but there are still some hurdles that need to be overcome before they can be widely adopted. The first barrier is that people are unfamiliar with handling their private keys. If you lose your private key, you lose your stablecoin.

The second barrier is transaction speed. Some stablecoins have slow confirmation times, meaning it can take minutes or even hours to complete a transaction. This may not be suitable for those accustomed to instant FIAT payments.

In this day and age, there aren't many merchants and even large companies implementing Bitcoin as payment options, and in the UK or Europe, apart from Bitcoin, they also accept Ethereum, Litecoin, XMR, and other top-listed cryptos in the market.

It just means that impossible things can happen in the eyes of the majority regarding this cryptocurrency business that we are also living in reality. And that depends on the beliefs of a business owner.

The huge growth in crypto right now is the adoption part, holding and creating value but I don't see any improvement in the payment solution side, not even a single one, there are few crypto payment companies but they are not progressing but they exist, even if ETFs get approved i don't believe that crypto payment will grow, its a matter of choice and consumers only want to build wealth with crypto not use them as means of payment.

I am accumulating good crypto projects and I won't be using any to make payment online, if I am to use crypto to make payment I will have to buy the coin back again for long term holding, but I do like getting paid in Bitcoin, since the Bitcoin transaction fee have increased it's become hard to get paid in Bitcoin, it's now up to a month that my customers have paid me with Bitcoin, it's like things are getting slower.

I'm not too sure, but in the future it's possible that cypto will be widely accepted, we can look back at history to see how fast the change was during this period. I remember in the past, people simply used paper money, then ATM/bank, online payment,... and crypto is really gradually becoming more popular and accepted because of the solution they can provide handle.
The current social situation has a lot of changes going on, and even in the field of payment technology, I am quite confident in an environment where people freely use the internet to combine many things.

Indeed, cryptocurrency is at a very important point in the history of money. There will be problems along the way to wide use, but it has a lot of potential. Although crypto payments have potential, lets not ignore the big problem: cost-effectiveness. They cost more than traditional ways of payment right now. Take a look at this: cryptocurrencies offer the best protection and privacy, but the fees for transactions, especially small ones, often outweigh the benefits.

However, there's a flip side: credit payments. A credit account, bonuses, and ease of use arent the only things that they offer that crypto payments dont fully support yet. But does this mean we dont believe in crypto's future? Certainly not! The way technology has changed over time shows how adaptable and creative people are. Cryptocurrencies might change over time, making them cheaper and easier to use. The future of banking isnt set in stone; there are many options that could happen. What does cryptocurrency have to do with this? It is important, but the strategy needs to change for it to really shine.

Maybe in the next few years payments using crypto will reach more people, but not like the crypto we know, but crypto products issued by CBDC in each country. They will call it a crypto payment similar to that offered by Bitcoin, but it is far from the spirit brought by Satoshi Nakamoto which is decentralized, anonymous, secure, and intervention-free. So even though crypto payments were going mainstream at that time, I wasn't too interested in it.

I don't think it's going to come to that point in my lifetime, I am sure that there's a lot of people out that don't know how to use crypto or how to even use it as a payment so I don't think it's ever going to happen anything soon at least that's what I think will happen. Fiat is still a more appealing to more people even today for many people here in the forum so I still believe that crypto payment as a first choice for many people is going to be mainstream anytime soon.

If by crypto you mean Bitcoin, then yes! It might. The chances of this happening are very slim.
Bitcoin is currently used in some areas of the World as a payment option, but it will not be a mainstream payment method for all global transactions. For retail purchases, the price should be stable enough to buy stuff. At the moment, price fluctuation, high transaction fees and blockchain congestion are the major concerns. You can't pay a 10$ transaction fee over a 10$ item purchase with a waiting time of over 5 hours for payment confirmation. In the future, these problems will be resolved, but still, I think crypto will not replace this global financial system as a whole. In the near future, CBCDs might be the way forward.

Honestly I don’t see it anytime soon.

Right now everybody is getting into crypto to get rich and they aren’t going to be making micropayments to pay for their coffee.

The technology is there already. Many businesses can already accept crypto easily with exchanges such as Coinbase but they don’t because they assume there is no demand for it, at least yet.

It’s a different story in emerging markets however. Those markets will have more and more crypto adoption for daily life instead of places like USA.

Let's get something clear. When you say "cryptocurrency" you are talking about altcoins and even tokens. So the answer is no, altcoins are not even designed to be used for payment. Majority of them are completely useless and only have one purpose which is to get pumped and dumped.

That only leaves bitcoin and bitcoin is already used for "mainstream payments" in a lot of sectors. Even big companies like Microsoft have been accepting bitcoin payments.
However, I don't see the scale of it increasing anytime soon because the price is still on the rise and that makes people more willing to hold their bitcoins rather than spend them.

There are some obstacles like the high cost in fees and delay in confirmation of transaction due to congestion on the Bitcoin blockchain but this won't be a problem in the future because a solution will be introduced (and that's my belief). I strongly believe Bitcoin is still very new and in the future solution will be introduced that'll make Bitcoin over capable of handling more transaction without experiencing delay due to congestion of the network. We're over expectant of Bitcoin achieving global adoption that we don't appreciate how far Bitcoin has come in a very short timeframe. Bitcoin hasn't lived up to two decades and we have come this far, why is there doubt that more can't be achieved in the future. Bitcoin will go mainstream not altcoins as others are suggesting. More institutional investors are coming into the industry and they'll play a role in normalizing mainstream Bitcoin payments.


I believe both will coexist because Bitcoin wasn't created to replace the traditional means of transaction, it was created as an alternative meaning they both can coexist and function properly. The truth of the matter is the government won't give up their centralized system to adoption a decentralized system that won't favor them but with time they'll realize they can't kill the industry by fighting it and just accept it. When this happens that's when Bitcoin will achieve its main stream dominance and Bitcoin payments will be recognized globally. This mightn't be happening anytime soon because I believe it's still too early but it's an inevitable scenario.

They are gaining traction, there is no doubt about it.
I have seen it myself here in my country, how each year more people start to accept stablecoins as a method of payment for their products, services, etc.
Though, I do not see a massive adoption coming to us soon because some unfavorable characteristics, the main one is the fact people is not used to handling their own private keys and being responsible with them, being easy targets for scammers. Also depending on the network we talk about, people are so used to instant FIAT payments that using some slow chain would be very unappealing to them, specially if we consider Bitcoin during these days of congestion, because of the ordinals and shit-tokens

It's still not going to be mainstream but there will be a huge growth in crypto users which merchants will also increase. At the same time, countries are rushing to develop their CBDC which will likely be taking the stage when they roll out before BTC could even make it to become mainstream.

However, I will still be satisfied that crypto can be used as currency and at the same time an investment. This I think can't be changed even after decades as it will continue the innovation of the financial system.

I'm not sure if bitcoin and or cryptocurrency payments are going to go mainstream anytime soon because I feel that we've still got too much work to do on the blockchains in order to make this "dream" a reality.  For me, its imperative that we get bitcoin to the point where it's used as an every day daily currency.  To me that adds a TREMENDOUS amount of utility to the coin, which will only help it in every which way. But, again, we've got a lot of work to do..obviously.

Bitcoin is likely to pave more height as we dive into the future through digital currencies, of which I know the very factors that will contribute to placing Bitcoin at hedge is it's ability to offer users the ability to send and receive payment with alpha-numeric codes without reviewing the person's true identity, unlike in the case of traditional banks

Whereas, another factor that may kind of hinder Bitcoin been generally used is its high cost of transaction fee and delay on confirmation most times when the mempool is high.

Not at all. In the beginning, bitcoin was envisaged as the currency of the future, independent of states and central banks. Then shitcoins started popping up everywhere promising to do better, and in the end they all ended up as an investment item.

What will become mainstream are CBCDs, which will replace cash and many of today's electronic payments. The rest of the crypto ecosystem will be used to buy and sell like stocks, even if there is some residual P2P usage.

Currently, traditional payment is still number one. This is still influenced by several factors, a person's understanding of crypto is still uneven and limited, plus transactions per second are still not able to handle large transaction cases. Moreover, if the BTC network is congested, this can affect transaction costs which are sometimes more expensive when compared to traditional (referring to transactions with small amounts). Of course, with future technological improvisations in Bitcoin and crypto, this does not rule out the possibility that Bitcoin will one day be able to replace traditional payments.

More changes will happen with cryptocurrency market, this industry ecosystem and cryptocurrency payments, e-commerce that accepts cryptocurrency.

With what are going on with Peer to Peer platforms, centralized exchanges in this year 2023, I believe governments will become more hawkish against this market. They will make more Act to control this market more similar to traditional market.

There will be more growth for this market and cryptocurrency payments but more challenges will be seen in future.

The number of TX processed per second in Bitcoin is still the biggest debate and a point of concern when we are talking about Bitcoin as mainstream payment but the evolutions of Lightning Network may be the solution to cut down every on-chain transaction that we may on the day to day purpose but we are still a long way from saying Bitcoin took over the place of traditional fiat system in the mode of payments.

Isn't bitcoin showing that right from now already, consider the way the adoption rate is fast increasing, how it has been used for economy and financial purpose together with how bitcoin has help maintain privacy abd trust with a higher level of security measures, there's more to talk and see about how bitcoin has been helpful on this present generation and other benefits it is serving, you could proof all these right by checking the most searched word on the internet today and find out to be bitcoin, it will always remain ever relevant as long as it keep serving with it's purpose of creation, wether government adopts or not.

To be honest, I was optimistic some time again that crypto payment systems would be going mainstream but as it continues to linger, it is bringing some doubts. Understandably,  Bitcoin have gained so much awareness but the adoption and acceptance among the general populace is still falling behind.

Before Bitcoin and other cryptocurrency will be accepted fully in the mainstream as payment option, there should be some  competitive advantage it presents over conventional payment systems. Apart from the convenience, privacy and speed, Bitcoin for instance is still appearing to have more expensive transaction fees than fiat amidst prolong confirmation time. Even when this is temporary,  the recurrence nature of this put so much doubt in the hearts of people and businesses.

Nevertheless, as with every new innovation, cryptocurrency will smoothen rough edges from there more innovations will be unlocked to fully harness the potential of thos azong technology.

As we navigate the ever-evolving landscape of finance, the role of cryptocurrency in payments is gaining traction. 🚀 I'm curious to know your take on the future: Do you believe crypto payments are on the verge of becoming mainstream in the near future?

The crypto space has seen remarkable growth and innovation, but challenges and skepticism persist. Are we on the brink of a significant shift in how we conduct transactions, or do traditional payment methods still hold the fort?

Share your insights! What factors contribute to the potential mainstream adoption of crypto payments, or do you see any obstacles that might slow down the process? Let's explore the possibilities and challenges together.