How much closer is Bitcoin to being mainstream? - page 2.

DoublerHunter

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Quote from: Dudeperfect on October 22, 2017, 11:04:30 PM

There are some cities in which there is a growing number of merchants accepting Bitcoin as a payment in most of the countries but if we are talking about global scale, the current situation is not even near to the scenario where we can call Bitcoin a mainstream thing.

However, I am impressed with the growing number of merchants and ATMs supporting Bitcoin because down the road, it will spread in the rest areas in most of the countries. Even though we don't have a Bitcoin-friendly market environment as of now, I am sure we will have a good picture in next 5 to 10 years.

5 to 10 years is a good range of time for bitcoin to have a good environment and friendly government because as you can see that the bitcoin is not acceptable until now but if the bitcoin will have good records and progress in the next 5 to 10 years then i think that it will be enough for the government to become positive about bitcoin and fully accept it.

sofi@

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I believe some countries now are preparing in having bitcoin as their official currency and as the value of bitcoin now hits more than $6000 it is consider to be mainstream we are just waiting fo the declaration of most countries that bitcoin will be legally adopted. But now I can that the success of bitcoin will continue for a long period and its future has a very bright picture to take.

Dudeperfect

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There are some cities in which there is a growing number of merchants accepting Bitcoin as a payment in most of the countries but if we are talking about global scale, the current situation is not even near to the scenario where we can call Bitcoin a mainstream thing.

However, I am impressed with the growing number of merchants and ATMs supporting Bitcoin because down the road, it will spread in the rest areas in most of the countries. Even though we don't have a Bitcoin-friendly market environment as of now, I am sure we will have a good picture in next 5 to 10 years.

michkima

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Quote from: hous26 on October 22, 2017, 10:32:58 PM

We're getting there. I've noticed more and more storefronts are starting to display the "Bitcoin Accepted Here" sign around town. Just today I was visiting my family and we talked about Bitcoin. My mom asked what its purpose was if noone uses it. I did a google search and found a gas station up the road and a couple local restaurants accepted in. She was surprised since its not a large city.

Hmm, care to share which country you are in and what city it is? I haven't seen any of it here in mine, though I would say that my country won't be the first ones to adopt bitcoin. But so far, I haven't seen many post about people sharing about stores already placing signs that they accept bitcoins.

Though, I heard a lot of good things about the lightning network, it could possibly speed up the implementation of bitcoin payment systems once it gets released.

hous26

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We're getting there. I've noticed more and more storefronts are starting to display the "Bitcoin Accepted Here" sign around town. Just today I was visiting my family and we talked about Bitcoin. My mom asked what its purpose was if noone uses it. I did a google search and found a gas station up the road and a couple local restaurants accepted in. She was surprised since its not a large city.

DewiKirana

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Bitcoin will become mainstream among the public if their country legalizes, contains transaction-related regulations using bitcoin, supports bitcoin in building bitcoin redeployment facilities in public areas.

777Bitcoin

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Quote from: CoinOn on September 22, 2017, 03:03:43 PM

How much closer is Bitcoin to being mainstream, and how do you gauge that? I noticed more ATMs in recent years, but other that haven't seen too many other signs.

I will put it bitcoin place in mainstream is on the door step already. In due time as more people will be hooked in bitcoin phenomena the mainstream will don’t have a choice but to support it all the way. When? If I’m right a 10000$ per bitcoin price is enough to convince them that enough of pretending that cryptocurrency doesn’t exist because if we don’t support it, bitcoin will eat them all.

jseverson

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Quote from: tylerderden on October 22, 2017, 09:42:13 PM

Not close enough. And I don't think that it would be ever close enough to become mainstream. Bitcoin is too volatile for that. Such an unstable currency can never be accepted as mainstream. If this happens then it wouldn't have a good effect on our economy.
Also it is decentralised and although that gives bitcoin power but it also prevents it from going mainstream. Do you think the government will ever allow a currency to go mainstream over which it has no control? I don't think so.

It's possible in my opinion. Certain governments have already accepted the rise of Bitcoin. They don't really need to control it, they just need to gain revenue from it. For as long as they monitor the exchanges closely, there should be few problems. That being said, I don't think Bitcoin going mainstream means governments will have to abandon their own currency. State issued fiat still have far too many advantages over Bitcoin, including much better stability. I'm sure people would much rather prefer having the liberty to choose between the few.

As for the volatility, I believe it has to do with the fact that Bitcoin is still too concentrated as far as distribution goes. The smaller the user base, the more unstable the demand is. More users should stabilize its value some.

tylerderden

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Not close enough. And I don't think that it would be ever close enough to become mainstream. Bitcoin is too volatile for that. Such an unstable currency can never be accepted as mainstream. If this happens then it wouldn't have a good effect on our economy.
Also it is decentralised and although that gives bitcoin power but it also prevents it from going mainstream. Do you think the government will ever allow a currency to go mainstream over which it has no control? I don't think so.

thenameisjay

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Quote from: CoinOn on September 22, 2017, 03:03:43 PM

How much closer is Bitcoin to being mainstream, and how do you gauge that? I noticed more ATMs in recent years, but other that haven't seen too many other signs.

I think a good indication that bitcoin is mainstream is that most stores accept bitcoins as a means of payment on all things including physical and digital products. You gauge it by how much people have their hands on bitcoins.

soham

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Quote from: CoinOn on September 22, 2017, 03:03:43 PM

How much closer is Bitcoin to being mainstream, and how do you gauge that? I noticed more ATMs in recent years, but other that haven't seen too many other signs.

I doubt that bitcoin will ever become mainstream like any other government regulated fiat currency because bitcoin is not structurally build that way. It has already created a parallel economy around the world but the legal status is still not clear in majority of the countries. While Holland has legalized it and Japan has started showing interest in legalizing it, but that will be just another currency inclusion in to their economy. It is far from being mainstream.

Also the major threat for bitcoin is the banks and organized financial institutions. They are loosing business because of crypto currency. The money invested in cryptos are mostly not channelized through the banking system. So they will try to create pressure on government and speak for banning bitcoin. So the road is still long and we have not completed even a quarter of it. Till the time governments don't show interest on bitcoin, is good for us.

DenGreen910

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Haha it's so close. but anyway it's perfect opportunity to gain money, so go for it. just invest! I think you should invest into real products or stable btc
If you are sure you wanna take risk, I'll ttry some of those: UnikoinGold or Confideal.
I have already invested and get some profit

Aura

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Quote from: HeRetiK on September 22, 2017, 05:14:47 PM

Quote from: Aura on September 22, 2017, 03:17:44 PM

Bitcoin is already mainstream. Big media platforms are writing articles about it. Also when you look the unconfirmed transactions, the amount increases every second. It passed PayPal's marketcap a couple of weeks ago. PayPal is quite mainstream, even my mother knows it.

Nah... Bitcoin has become more widely known and people are just starting to realize that there might be something to it, that's true. But it's still quite far from mainstream, albeit we're slowly getting there.

Knowing about something and using it are two very different things. A lot of people knew about cars, computers and the internet before the general populace started using them.

PayPal's market cap is a useless metric in this regard, unfortunately. It will be mainstream once the userbase is the size of PayPal.

It depends on how you define mainstream. I mean you and I consider it as normal, for doing payments. But how much people need to consider it as 'normal' to be mainstream?
In my country iDEAL is widely, it's considered mainstream here. But if I would ask about it in the United States, almost nobody would know it nor use it to make payments.
And you can't really compare Bitcoin's user base to that of an one account per user service. I think it's better to compare the amount of transactions per second to that of PayPal.

ss890

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Bitcoin is already catching up the fire and there is no doubt about its mainstream performance. It's been while since bitcoin has formed its presence and the investment, portfolios, media, news everywhere bitcoin is having best performance. Yup, it's true about bitcoin ATMs but there is a glitch in that picture and that is, it's not present yet in the developing countries because they might not be having that much advancement in the world of cryptocurrencies.

That's important to bring it here because that's the x percentage of crypto investment we are loosing for now. Otherwise bitcoin is outperforming already.

ruskytailz02

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Isn't BICOIN is not mainstream

many of well known CEO's like bill gates who owns lots of BTC
some says that this need more attention but the thing is now bitcoin popularity is becoming strong
the thing is many of people not know and how these coins behavior and how it works I think that is the reason

Mr. Legendaris

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I think it takes time for bitcoin to prove to be mainstream. we all know that the price is too easy in control though bitcoin is decentralized, if loyal users of course they are not easy to sell.

URSD

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bitcoins is so related and close because it can buy you anything

Nawaytes

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Do you mean the word "mainstream" is used as a means of payment like fiat currency? Still not close enough for me, not all countries can accept bitcoin as a means of payment, and people only apply it as a commodity to take profits through trade (including me).

Beicin

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Still a long way to go. Can you explain bitcoin and blockchain to someone who can barely use his computer/smartphone in less than 5min in a way they can understand? Until we manage to do that, it won't be mainstream - adoption it growing yeah, but still a long ways off being mainstream.

bitcoinmaniac52

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Presale is live!

Every single day that goes by sees Bitcoin becoming closer and closer to going mainstream.

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