Topic: What stage of adoption is Crypto currently at? - page 10. (Read 2744 times)

On a large scale we are not even close. However, I still want to believe we are going to be getting past the adoption phase pretty soon. Is it not becoming obvious ?

First, some investors are still scared and looking to see if it is right to get in or not, some have taken the bold step, institutions gradually are stepping, the LN will increase the speed of transactions and make bitcoin even more usable, once we hit those stage, we are going to even be getting past the growth phase, so for now, I will say we are just there in between the adoption and growth phase.

Bitcoin in 2009 , I'm a new horn in 2018 but I still consider myself as part of the early adopters in 2018  . My reason is that I have the opportunity to start investing in altcoins and make it big. Bitcoin started with less than a dollar & there are coins with such prospect.

My point is that, the awareness of cryptocurrency is growing in strength, reaching different nationalities. Soon, we are going to hear different nations adopting it as means of financial transactions which will lead a regulation process. So, in as much we are yet to have regulation , I see myself as early adopters of digital currency.

I know good times awaits this great financial innovation .

I consider our community is slightly accepted by majority but doesn’t mean by the higher ups only those ordinary citizens around the globe. It’s already be a good standing even without the total support by the government, we’re good enough to call our situation successful. But we need more than that, were aiming for something bigger than us.

The below incidents support bitcoin and other crypto currencies reach everyone from every corner. Mostly, news on pumps and dumps and correction do reach everyone. Every day a new investor starts looking at crypto coins to invest as they the history of crypto assures them of huge profit. Secondly, news on Governments banning and adaption of bitcoin and other crypto currencies in their respective countries. This largely opens up eyes of everyone. This moment tends to draw people 's attendtion towards crypto currencies and bitcoin.

We are in early stage,not many know what is blockchain or crypto they only heard about bitcoin as it was used in many negative scene and recent price spike cause a attention to it.it will take time for everyone to know it and take an interest in it ,as startup and mnc are adopting blockchain crypto name will spread and we will get a good user base.but for current user it is more than rare gold as after 25 year crypto will be on a different level and we will be early adopters.

When bitcoin almost hit 20K(happend about 2 months ago) it made a big media FUD about bitcoin, you could see an article about bitcoin at most of the news/media sites, so it's pretty clear that there is a largr perecent of people who knows about bitcoin.
At the same time, exchanges are closing doors due to being flooded with users, so it's pretty hard to say that we entered mass adoption, but I do believe that there are a lot of people that are just waiting to buy bitcoins but they can't do that because of the state of the exchanges.

True, the fact there is a lot of money invested in bitcoin and alts does not mean that we have reached any kind of big adoption, I have yet to see a single store in my country accepting bitcoin and if I saw it I will buy whatever they are selling just to support them, I still think we are below 1% when it comes to adoption, so this should be very telling because once we reach 5% or 10% I think we are going to see a chain reaction in which most stores will begin to accept bitcoin.

As the CEO of bitcoin.com said bitcoin price recovering to 9.4K now. We will find the price bumped to 10k USD for sure. If you want to make the profit you can wait for more days to sell but for buyers still this is the good to time buy the bitcoins now.
i have found 10 percent growth in the chart. Now no more drops see the price chart and invest on it.

I think we are at an adoption stage right now. It's very experimental overall though. We have a lot of coins coming up and they're testing whether or not blockchain is right in the field that they pursue.

The recent dips are definitely harming the adoption phases. The only reason I don't think we're in an early adoption phase is because a good amount of people know about crypto and it's uses. They can spread the word. However, not enough people know the depth of crypto. The recent drops just make people gasp at the idea of using blockchain technology even though that doesn't really have anything to do with currencies.

You didn't come up with anything new that I haven't heard already. The points you list are not what affects volatility as an obstacle to wider adoption. Besides, the way you claim it as an established fact clearly reveals that you don't quite understand what's going on with Bitcoin on a larger scale. LN can make people transact more but it is not an adoption booster. I mean adoption as in real economy, not for speculation purposes. But it is doubtful even for speculation because there are a bunch of top altcoins which don't have these issues and did it boost adoption? In other words, it will mostly be the same people that will transact more, if at all.

Couldn´t it be a good thing if people are reluctant to spend Bitcoins, because they are worth
more in the future? Several economists argue that assets like Bitcoin actually change people´s time
preferences from a high-time preference to a short-time preference. With a short-time preference
people actually think more of the long-term and increase their savings.

One could argue that this would be beneficial for the individual, because having savings protects from
sudden loss of income and also beneficial for society, because it would decrease the ubiquitous overconsumption.

Speculation is an aspect of any market, so whether we like it or not, it will always play an important role. I however agree that we need more adoption in form of actual usage, but the thing is that Bitcoin at this point doesn't really stimulate that as you (in a less subtile form) also pointed out. No need to say sorry, it's just your way of expressing.

It will matter, and in a significant manner as well. It actually surprises me that you don't see that. Currently the next few aspects are what bothers people, and at the same time prevents Bitcoin from becoming a mainstream phenomenon that it deserves to be.

1) high transaction fees.
2) slow confirmation times.
3) low number of transactions that it can process per second.

LN tackles all above annoyances that people 'suffer' from in today's market, and will stimulate people to transact with each other far more than we can imagine right now. In other words, LN is a major adotion booster, that's a fact. Regarding using it as payment to purchase goods and whatnot, I more or less agree that it won't change very much in that aspect. It has partly to do with the volatility, but the main point is that people don't want to spend something that can jump up significantly in value the next day. That's something we have been dealing with for years now.

Between stage 1 and stage 2, early developing, researching and introduction. We are not far from that, bitcoin is maybe one stage faster then the others but they are all still here, do you see how bitcoin is dropping and others are following.
With 100 years scale we are at the beginning, and all people here are early adopters, its how I see this situation and global adoption. Maybe many people heard about it, but many more will have to join. And look at the bitcoin, last year after so many people joined we had network breakdown, transaction fees to the moon, networks couldn't handle all this new people, there is so much work to be done more, we are at the start of it.

This infographic is worth little next to zero without at least one real scale reference.
Let's take time factor and add current 10 years as a scale of reference.
We quickly realise that its pointless, this would mean that cryptos are already over, we know this is not true.
Besides two years per stage seem like to small sample ergo bad science.
This is very advanced tech we are talking about here, we have to treat it, just like the computer industry.
Look how many years where needed to achieve 1computer per household (we are not there yet - but close) and correlate this to blockchain in fintech...Now, lets use 100 years scale, this would lead us to 10-20years per phase and now, now its starts look more real, more connected with our reality. We are still in the phase1. or at least that's my opinion.

They were closing registrations because there was an influx of spam accounts. Bitfinex reported something like 100,000 accounts opened in just a few days. Anyway, new account at an exchange has little if anything to do with real adoption. Speculation is not what Bitcoin now desperately needs. It needs real life adoption and there it sucks massively, sorry for that. And I don't think that LN is likely going to mend matters here because it won't affect volatility. It is volatility due to Bitcoin's speculative nature that prevents it from being used as a payment method.

Supermine said it right. We are in the early days of cryptocurrencies as a whole. Try going out of your house and see if you can find a BTC accepting store near you. You found none? Of course you did. Thats because theres less than 5% of the world's population use or own cryptocurrencies.

Were are just at the first step of a big ladder we still need to go a long way.Bitcoin was found to be used a currency but I don't think people using it a currency yet because it is not accepted as a means of payment in normal day to day usage.So it needs some more years to adopt fully to the crypto currency system.But crypto currency is spreading all around the world rapidly due to price fluctuations of bitcoin.But many people afraid to accept it as a currency due to volatility in its price.So we will use the crypto currency as a currency when the prices are sabilized at some point.

This article has some useful info on the Global Markets & where Crypto is.  It is a few months old, but it gives you an idea of where we are at.   

http://www.visualcapitalist.com/worlds-money-markets-one-visualization-2017/

In the US, places that are "cash only" are pretty rare - so many places take credit or debit.

Right now, crypto is like "cash only" so pretty early.   And BTC has been so wild both in price and transaction fee that IMHO, it's not dependable.

When we can use crypto at like half the places I'd say that would be pretty good.

The US may not be the best example because Asia has had cellphone-based payment for years and it is just starting here in the US.

     I think we are at the middle stage of adoption which is the growth of bitcoin is still soaring even sometimes there is a dumps. And accompanied of the growth of bitcoin we are at the adoption and acceptance for a blockchain technology.