If bitcoin ever goes mainstream - page 6.

ATguy

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Quote from: Wendigo on March 28, 2016, 10:11:25 AM

If Bitcoin goes mainstream that will be a good thing because it will be accepted not only by big stores all over the world but by all kinds of smaller shops like grocery stores, hairdressers, laundromats etc. Consumers will have the choice to pay with their fiat or Bitcoin funds and that will help to bring the prices down and I hope there will be discounts for paying with Bitcoin for example.

More likely Bitcoin goes mainstream if it become common for people to get paid in Bitcoin instead in Bank account. Long way from there, but its fine considering Bitcoin is not readdy yet for any higher usage because of capacity problems.

BitMaxz

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I think bitcoin is nearly mainsteam and it will happen sooner because we see more stores online accepting bitcoin as payment and they are increasing month by month.. I hope it will be the mainstream in the future if they develop more on bitcoin..

Ardenyham

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I don't think it will be like this, If bitcoin goes mainstream enough then people would get plenty of opportunities to join in since it won't be a surprise but a gradual process, IMO everyone is getting an opportunity to join bitcoin.

Nimbulan

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Quote from: aardvark15 on March 28, 2016, 02:09:50 PM

I could see a scenario where bitcoin is accepted just like credit cards, paypal, and debit cards sometime in the near future. I think it's very likely to happen within 10 years or so.

thats the thing i seem to imagine too because im pretty sure bitcoin will be accepted by most people in ten years

besides that i think that the price will go through the ceiling and we will reach something like 10 k dollars per btc

aardvark15

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I could see a scenario where bitcoin is accepted just like credit cards, paypal, and debit cards sometime in the near future. I think it's very likely to happen within 10 years or so.

Wendigo

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If Bitcoin goes mainstream that will be a good thing because it will be accepted not only by big stores all over the world but by all kinds of smaller shops like grocery stores, hairdressers, laundromats etc. Consumers will have the choice to pay with their fiat or Bitcoin funds and that will help to bring the prices down and I hope there will be discounts for paying with Bitcoin for example.

KoinKartel

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Quote from: RyanX on October 18, 2015, 06:39:54 AM

Quote from: MinerHQ on October 17, 2015, 09:55:30 AM

Quote from: maokoto on October 17, 2015, 09:42:35 AM

I think that it will be take long for it to be used as regular money.

In fact, regular money took long to be used in its electronic version. I still know people that do not trust much on online bank transfers and payments. Due to Bitcoin being full online, well, it will take some time.

I am happy if it is a way to store value for some time.

I don't think even after Long time it will happen. Very difficult to replace the existing currencies with Bitcoin.

Bitcoin will coexist with existing currency for a long time.

Very true

Bitcoin has to coexist with fiat currencies, at least for the time being

because its actually fiat currencies that allow bitcoin to be valuable since, currently, the blockchain is mainly being used as a payment rail to facilitate transmission and transfer of value

The value being transferred can be anything... Fiat, property titles, etc

Without fiat currencies, bitcoin itself wouldn't have a USP that easily appeals to the average joe

richmcrich

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I think Bitcoin will go mainstream as the change has started, you can not just see the speed of change it is much more faster than we imagine, I think Governments as well as bankers are failed to stop Bitcoin in last couple of years so I think bitcoin is incoming to the financial world.

honeyhtet

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I think that a lot of people here only want Bitcoin to become mainstream so that their investment will increase in price and be sold thereafter to make profit, not because Bitcoin is innovative and cool.

simonloff

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I don't think anyone will be ruined if bitcoin goes mainstream, it would be a very gradual process and almost everyone would be part of it, Bitcoin would still be linked to fiat by a price I think.

fkvidar

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Quote from: armansolis593 on March 18, 2016, 05:04:23 AM

Quote from: DeDordtenaar on March 18, 2016, 04:15:17 AM

Quote from: Betwrong on March 18, 2016, 03:52:57 AM

I think if Bitcoin goes mainstrem (and it is going already btw) the fiat will stay anyway. There always will be situations when it is more convenient to use fiat and I think there is nothing wrong with that.

yeah I think it's not a problem. many people are too scared if bitcoin become mainstream then bitcoin will take over fiat, it's simply not true. Fiat will be like usual

There will always be people to use fiat on their daily lives,not all people have mobile phones that have bitcoin in them so fiat will still be used.

That's true especially the illiterate people will find it easy to use fiat and not bitcoin, as they might find using bitcoin complicated even if bitcoin gets on mainstream.

armansolis593

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Quote from: DeDordtenaar on March 18, 2016, 04:15:17 AM

Quote from: Betwrong on March 18, 2016, 03:52:57 AM

I think if Bitcoin goes mainstrem (and it is going already btw) the fiat will stay anyway. There always will be situations when it is more convenient to use fiat and I think there is nothing wrong with that.

yeah I think it's not a problem. many people are too scared if bitcoin become mainstream then bitcoin will take over fiat, it's simply not true. Fiat will be like usual

There will always be people to use fiat on their daily lives,not all people have mobile phones that have bitcoin in them so fiat will still be used.

Trading

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Nothing like healthy scepticism and hard evidence

If bitcoin was real mainstream (10% of people holding it) its price would had been going up like a missile in the previous one or two years. As more and more people was aware of its growing value, more and more people would rush to it, dumping fiat.

Gresham's Law says that people will hold/hoard the strong currency (bitcoin) and will dump the weak one (fiat) like hot potatoes. That would devalued fiat even more in front of bitcoin.

Perhaps, fiat would still survive, but it would be like fiat versus gold coins in times of inflation of fiat. No one would want to have their savings in fiat. Everyone still holding fiat for the long term would be ruined.

It's because of this (and other things stated on the OP) that I doubt governments will allow bitcoin to go mainstream. They will have to try to ban it (they won't be able to real destroy it, but will force bitcoin to return to the margins of the Internet) before this happening, forcing wealth to stay away from it.

DeDordtenaar

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Quote from: Betwrong on March 18, 2016, 03:52:57 AM

I think if Bitcoin goes mainstrem (and it is going already btw) the fiat will stay anyway. There always will be situations when it is more convenient to use fiat and I think there is nothing wrong with that.

yeah I think it's not a problem. many people are too scared if bitcoin become mainstream then bitcoin will take over fiat, it's simply not true. Fiat will be like usual

Betwrong

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I think if Bitcoin goes mainstrem (and it is going already btw) the fiat will stay anyway. There always will be situations when it is more convenient to use fiat and I think there is nothing wrong with that.

Trading

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Nothing like healthy scepticism and hard evidence

For the reasons stated on the Op, if bitcoin goes mainstream, I think it will destroy the value of fiat and will be a catastrophe for fiat holders.

vdramaline

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I don't think it will screw the person involved with fiat or even impact them, for mass adoption to occur even these people are needed, I think it will be a slow and gradual process and everyone will get the chance to be a part of bitcoin as a whole.

ausbit

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Quote from: Crazygreek on March 16, 2016, 01:16:03 PM

Quote from: sachung on March 15, 2016, 11:32:12 AM

I think it will be a gradual process, no one won't have an opportunity to join it and it will be a gradual and relatively slow process, I think almost all people will join bitcoin at decent time.

People will choose the easiest way, people everytime did. If it will be bitcoin, people will join it . But anyway IMO it will not happen

Anything is possible mate, I think there are full possibilities that bitcoin can get on mainstream in future as the popularity of bitcoin iis increasing rapidly and I think it would be used as a primary currency in future.

marcus_of_augustus

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Quote from: sachung on March 16, 2016, 01:45:58 PM

If bitcoin becomes THAT mainstream then it would be a gradual process, it would take months if not more for it to be adopted and used world-wide and for it to replace bitcoin it would need even more, people won't be affected...

... in that case, growth would be 'slow' at first and then relatively explosive, with 'slow' being a relative term.

sachung

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If bitcoin becomes THAT mainstream then it would be a gradual process, it would take months if not more for it to be adopted and used world-wide and for it to replace bitcoin it would need even more, people won't be affected...

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