Do you think that cryptos such as Bitcoin would be mainstream? - page 5.

Chrystora123

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Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

I see the trend going that way.. just look at how Libra and the Chinese cryptocurrency are making a scene worldwide, only cryptocurrency and blockchain technology are able to align the economy of all country around the world. in the next few decades, we will see mass adoption of cryptocurrencies (Bitcoin, Ethereum, USDT, and others). even poor countries will be able to use cryptocurrency as long as they are connected to the internet and understand how to use a smartphone or laptop.

Beparanf

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Quote from: fuguebtc on November 11, 2019, 07:18:03 AM

Majority of governments all around the world are showing zero tolerance towards cryptocurrency since they believe it will take financial control away from them. Let's hope something good comes out very soon so that BTC along with other CC will be used in mainstream payment system.

There are still countries that are strict in implementing crypto or accepting it in used for everyday life, this week I was able to pay my bills and today used my wallet to pay for online shopping. Now that there is able wallet in my country that being used in many tasks like sending fiat/crypto anywhere plus the continuous update and partnership of our countries popular crypto wallet allows me not to rely in banks any longer so soon I know it will be a mainstream in our country as it offers comfort and smooth transactions.

coin-investor

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Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

It's possible, here in our country, our local exchange are now accepting Ethereum, Ripple and Bitcoin cash to pay insurance bills and do travel bookings and not only in our country, there are a lot of countries who are doing the same, for Cryptocurrency to move forward, it should not be only about Bitcoin, at least 7 or more Cryptocurrency should be adopted and they are all going to be mainstream and Bitcoin is leading the way.

bitcoinposts

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Bitcoin is in main stream in most of the countries like zimbabwe and venezuela and Argentina bitcoin is in main stream many use bitcoin ad major currency

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Bitcoin existed for a decade already, i know for sure some of the country had been using bitcoin already like a mainstream currency in most areas where they don't seem to see it as an investment before. But because the value of bitcoin is always growing each year people value it much just like an investment and they stop spending it like a normal currency.

bitsurfer2014

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Quote from: fuguebtc on November 11, 2019, 07:18:03 AM

Majority of governments all around the world are showing zero tolerance towards cryptocurrency since they believe it will take financial control away from them. Let's hope something good comes out very soon so that BTC along with other CC will be used in mainstream payment system.

I think its wrong to assume that majority of Governments are anti crypto and have zero tolerance towards cryptocurrencies when in fact some of nations who are perceived to be against crypto are beginning to change their stance!

Take for example with China, which had recently announced its plan to launch its own state backed cryptocurrency together with the statement of its President to embrace blockchain technology. Additionally, we cannot say that China have zero tolerance on crypto when it had been allowing crypto mining on its territory specifically with Bitcoin and is well known for hosting the biggest mining pools on Bitcoin.

I understand that there has been a handful of nations who are against Bitcoin and other forms of cryptocurrency yet its effect on adoption is somewhat negligible right now which I fear would be the opposite if nations with big economy in the likes of USA, Australia, Korea, etc., would totally ban it which I'm sure Bitcoin and other crypto would have no chance of going mainstream.

For further reference, here is a 2017 article and report on the state of crypto adoption per country.

hatshepsut93

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Quote from: Jet Cash on November 11, 2019, 03:33:56 AM

Bitcoin is unique, and most people cannot understand how a virtual asset can have real value. But what is value? Denomination it in terms of a valueless asset such as the US dollar, just distorts mass perception. The interesting development to watch is the proposed gold backed Chinese "crypto" currency.

People have no problems with virtual items having value, virtual assets are almost as old as the Internet, and we have generations that grew up with the Internet. People pay for virtual items in video games, they pay for streaming services, music, software and so on.

The biggest obstacle on Bitcoin's path to mainstream adoption is the fact that people simply don't care about financial freedom. People are totally ok with using banks, and most of them can't find reasons strong enough to justify taking risks of using new technology.

fuguebtc

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Majority of governments all around the world are showing zero tolerance towards cryptocurrency since they believe it will take financial control away from them. Let's hope something good comes out very soon so that BTC along with other CC will be used in mainstream payment system.

dadach

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Quote from: Kyraishi on November 11, 2019, 03:39:07 AM

Impossible to happen, for bitcoin... It's already gotten too much bad attention (in the form of it is only used for drug operations or money laundering), and like many other people have said, a lot of the features just don't allow this to be possible.

Although, an interesting option would be ETH. A lot of the programming and new tokens that are done on the platform make it an interesting business platform, and a lot of its features like fast confirmations could lead itself to be seen in real-life scenarios.

nah, if bitcoin does not make it, eth and others will not make it either...hell, eth network got destroyed with only one cryptokitties app

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Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

Using blockchain technology yes its possible to use it in daily life wait for 5 or 10 years and you will see the differense of online transaction using now and compare to that time. I am not telling it is BTC or ETH there must be a crypto currency built for every country on that time.

keyscore44

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Of course yes, it's only a matter of time. I am not saying that Bitcoin or Altcoins will someday replace fiat money, but they will definitely be recognizable and acceptable by mainstream. It's enough that one of the big mainstream companies will start accepting Bitcoin and then the domino effect begins. I've heard that Starbucks is interested in accepting Bitcoin, so maybe it will be launching a Bitcoin mainstream adventure.

airdnasxela

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Possible but far from reality. First, not all governments will adopt cryptocurrency because it's decentralized. Second, not everyone can understand blockchain technology and won't take the risk to adopt it. Third, due to its volatility, it would be hard for bitcoin to be used in everyday transaction because the price are not stable at all.
Zimbabwe are slowly adopting it because of their economic crisis, people are looking for an alternative. Though bitcoin and crypto can still be adopted by other countries, only as an alternative currency but not as a main currency.

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Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

Of course, cryptocurrency is considered as currency which has the eligibility/capability to become an alternative option for payments when having a transaction.

It is possible if they don't think the same way as China.
China adopted only blockchain technology and not included bitcoin.

BTW it is eth not etc.

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Quote from: Kyraishi on November 11, 2019, 03:39:07 AM

Impossible to happen, for bitcoin... It's already gotten too much bad attention (in the form of it is only used for drug operations or money laundering), and like many other people have said, a lot of the features just don't allow this to be possible.

Although, an interesting option would be ETH. A lot of the programming and new tokens that are done on the platform make it an interesting business platform, and a lot of its features like fast confirmations could lead itself to be seen in real-life scenarios.

Fiat currency is also being used in illegal activities, bitcoin was known due to bad usage of it but I don't think that it will become impossible for it to happen due to this reasoning. Their mindset can be changed if they realize and understand its true function.

ETH is really a good option, no questions about it. But there is a lot of consideration that should happen first before it happens, like regulations when creating new crypto using smart contracts.

Fatunad

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That is possible but I am guessing there will be a long time frame before the global adoption of cryptocurrency will happen. Also it will co exist with fiat. We are slowly using btc and eth in daily transactions what's lacking is the additional adoption from the people in the third world country.

Genemind

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As for me, that wouldn't be too impossible to happen. We all know how surprising crypto is so it has a huge capability to reach even the developing countries in the future. Lots of countries are now accepting bitcoin and other cryptocurrencies in different transactions so it simply means that it's growing each day which could bring it to the mainstream. We only need more adoptions so more people and countries would choose it as a mode of payment.

Kyraishi

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Impossible to happen, for bitcoin... It's already gotten too much bad attention (in the form of it is only used for drug operations or money laundering), and like many other people have said, a lot of the features just don't allow this to be possible.

Although, an interesting option would be ETH. A lot of the programming and new tokens that are done on the platform make it an interesting business platform, and a lot of its features like fast confirmations could lead itself to be seen in real-life scenarios.

Jet Cash

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Bitcoin is unique, and most people cannot understand how a virtual asset can have real value. But what is value? Denomination it in terms of a valueless asset such as the US dollar, just distorts mass perception. The interesting development to watch is the proposed gold backed Chinese "crypto" currency.

Wysi

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I think crypto can be best alternative for fiat but cannot be used in terms of daily transactions even if it becomes mainstream because of volatility as not everyone will be familiar with fluctuations. I feel stable coins can be used for daily transactions since it does not fluctuates like other crypto.

alani123

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BTC to me is already reaching peak levels of popularity in terms of awareness. However, the amount of people that really need such instrument in their daily lives is limited. How many people can carry the risk of holding something that fluctuates so much in value? Finance as we know it isn't made to allow the vast majority of the population to take financial investment risks. It's something most people simply can't afford. On the other hand, micro-investment is becoming more and more common these days. We might see an increase in the number of people that own crypto in the following years, although that could be through custodianship via third parties.

dadach

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Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

only bitcoin in one form or another (LN), as the rest of the coins could be around only because the current technology allows them. altcoins are not really needed for much, and a proof of that is that there is no serious project that ever became realized, out of all the altcoins

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