Topic: If bitcoin ever goes mainstream - page 18. (Read 29064 times)
BTC is already minestream.
One question is what is at what level do you say "ok mainstream has been achieved". For example, someone pointed out to me earlier that apparently GNU/Linux is now used on more than 1% of desktops. I remember when GNU/Linux was closer to 1 in 1000. Nowadays everyone has heard of linux and I would tend to say that this is "mainstream". However, at 1%, it's certainly not majority. So, does mainstream mean majority or does mainstream simply mean significant minority or something else?
If this happen, I'm sure that value of BTC will increase a lot, what will bring great profits to many early users.
Of course, it will be great to be able to use bitcoin anywhere instead of local money.
Still this is distant future.
Of course, it will be great to be able to use bitcoin anywhere instead of local money.
Still this is distant future.
If things work out fine and infrastructure, ecosystem keeps growing, more and more businesses are build around and on top of Bitcoin,accept and work with BTC I believe in 8-10 years we will see a big portion of this distant future. So many things are able we might not be able to think about right now except visionaries.
So be positive, use and demonstrate to others how BTC works, cross fingers and I'm sure we can make it.
If this happen, I'm sure that value of BTC will increase a lot, what will bring great profits to many early users.
Of course, it will be great to be able to use bitcoin anywhere instead of local money.
Still this is distant future.
Of course, it will be great to be able to use bitcoin anywhere instead of local money.
Still this is distant future.
It would be interesting to see how whole global economy is competing for only 21millions Bitcoins (minus 1 million that belongs to Satoshi 
). In that case predictions of monetary value of Bitcoin many times higher than now sound logical.
). In that case predictions of monetary value of Bitcoin many times higher than now sound logical. 
The European Central Bank, as previously, the Bank of England, recognized in a recent report that bitcoin has the potential to disrupt its monetary policy: http://www.coindesk.com/european-central-bank-digital-currencies-inherently-unstable/
it will end up with 50% money on bitcoin due to its deflationary nature, and the rest will remain on fiat, decreasing its inflationary situation by the other 50%
It's important to remember the ideals behind this being the creation of a currency without central control rather than the production of profit.
If bitcoin goes mainstream , it will be fun.
Just imagine paying for everything via bitcoin , sounds too good
Just imagine paying for everything via bitcoin , sounds too good
All fiat is inflationary, and therefore it is worth less every year.
Fiat holders will lose anyway, regardless of what happens with Bitcoin.
this is true, I fully agree Fiat holders will lose anyway, regardless of what happens with Bitcoin.
There's a bit of a superiority complex building for those that do "get it" and have a vision to get outside of the govt created box of institutional slavery.
How can we help but feel superior? Looking around at a world of blinded slaves who believe they're free, and one can only feel pity, sadness, and compassion.It will make us bitcoiners rich, but it will be at the expenses of fiat holders.
It's a bigger risk to hold fiat than BTC at this point, at least if you are Greek and in the future Italian, Spanish, Portuguese.. and we'll keep adding.
The idea is simple: as more people adopt bitcoin, the price will keep going up and up on the long term (with short and median term major crashes). At some point, this is going to start to affect fiat value too.
I guess I more or less agree with this. There is the question of what is meant by "adopt". That is, someone might adopt bitcoin as a long-term investment savings, buying bitcoins and holding them for years. Someone else might adopt bitcoin as a payment method for stuff they buy every month. These two different types of adoption have different ramifications for bitcoin price, I think.
It seems generally accepted that holding or spending bitcoin are two forms of adoption of bitcoin with different impacts. If the buyer of things with bitcoin bought the bitcoins it seems the result is positive. He had to buy the bitcoins. The seller of the good might decide to keep the bitcoins. Even if the seller sells the bitcoins, the result will be at least neutral. Probably, the buyer of the goods will talk about his positive experience with bitcoin to others and will buy more bitcoins.
Of course, if someone buys bitcoins and holds them, that will be even more positive. It will decrease the number of bitcoins available, helping to make it scarce and, therefore, increasing the pressure for higher prices.
In a context of bitcoin's price increase, everyone buys bitcoin to hold and this helps the bullish momentum.
All fiat is inflationary, and therefore it is worth less every year.
Fiat holders will lose anyway, regardless of what happens with Bitcoin.
Fiat holders will lose anyway, regardless of what happens with Bitcoin.
There's a bit of a superiority complex building for those that do "get it" and have a vision to get outside of the govt created box of institutional slavery.
How can we help but feel superior? Looking around at a world of blinded slaves who believe they're free, and one can only feel pity, sadness, and compassion.It will make us bitcoiners rich, but it will be at the expenses of fiat holders.
The first post is based on the so-called Gresham's Law. When there is a strong currency (bitcoin, even if not currently) and a weak currency (fiat), everyone keeps the first and dumps (exchange or spend) the second. It's more or less what is happening on Venezuela, with people keeping the USD and dumping the Bolivar. When this trend of dumping the weak currency is generally adopted, it can cause major depreciations of the weak currency. This might happen one day with bitcoin versus fiat, starting with bolivar and other very weak currencies.
The idea is simple: as more people adopt bitcoin, the price will keep going up and up on the long term (with short and median term major crashes). At some point, this is going to start to affect fiat value too.
how will it affect the value of fiat. can't see bitcoin causing that kind of an effect to fiat.
The idea is simple: as more people adopt bitcoin, the price will keep going up and up on the long term (with short and median term major crashes). At some point, this is going to start to affect fiat value too.
I guess I more or less agree with this. There is the question of what is meant by "adopt". That is, someone might adopt bitcoin as a long-term investment savings, buying bitcoins and holding them for years. Someone else might adopt bitcoin as a payment method for stuff they buy every month. These two different types of adoption have different ramifications for bitcoin price, I think.
The idea is simple: as more people adopt bitcoin, the price will keep going up and up on the long term (with short and median term major crashes). At some point, this is going to start to affect fiat value too.
Lets talk about this when bitcoin goes mainstream. Maybe it will take 3 more decades for that.
noooooooo, bitcoin will never go away, and will always remain
I think the definition of mainstream has to be defined. Usually, you could already assume it to be widely adopted. Mainstream doesn't actually means it will replace fiat.
Dude, your model sort of assumes the price will go up over-night.
It probably won't happen like that. The price will rise, people will get out at 5x, then 10, then etc. No one single person is going to horde all the benefit, and the banks taking using bitcoin in their lending activities will also increase from the increase in this price (assuming it does increase).
The volatility will depend on how many people adopt it. Banks having it in their systems alone should halt some of the volatility if they are consistently making lending options and congruent prices. Again, this assumes the technology will get adopted after a bullish rush, which is hard to say with any credibility beforehand.
It probably won't happen like that. The price will rise, people will get out at 5x, then 10, then etc. No one single person is going to horde all the benefit, and the banks taking using bitcoin in their lending activities will also increase from the increase in this price (assuming it does increase).
The volatility will depend on how many people adopt it. Banks having it in their systems alone should halt some of the volatility if they are consistently making lending options and congruent prices. Again, this assumes the technology will get adopted after a bullish rush, which is hard to say with any credibility beforehand.
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