Topic: What’s Stopping Crypto Markets from Entering the Mainstream (Read 1500 times)

Bitcoin lighting network solves most of these issues.
Its still the people in power which is stopping the growth of bitcoin.

As far as bitcoin is concerned there are some issues like scalability and high fees. In my view apart from regulations, these are some serious issues that are hindering its adoption in mainstream payment system.

So basically it is the government and those who are in control of fiat like banks, who basically do not want bitcoin to become mainstream.

only time is stopping... in ten years, max in 15 it will be mainstream

Actually, most of the countries have started digitization and also there are platforms developed to start using digital money for payment systems. These kind of platforms are usually linked to your bank accounts and the money is directly been deducted from your bank account any time you make any payment so this makes payment monetary systems easier.

Peoples have started supporting such platforms so we could even expect in the coming future that peoples can shift onto the blockchain networks for payment systems if ever blockchain payments are made that easy and affordable.

There needs to be some changes before crypto markets can really enter the mainstream but it might not be impossible.

Imagine if a platform is developed where the blockchain payments are directly connected to your centralized banks and the payments are directly received and sent from your bank account but with the medium of cryptos by directly converting them into the Fiat systems instantly in a glance of seconds?

This would bring a revolution and also a number of peoples will then turn themselves towards crypto payments and it would also make using and storing cryptos directly into our wallets much easier. But in this case, the centralized banks too might start accepting the fact than cryptos might enter the mainstream and then only it might be possible to collaborate with them.

I think it will not happen in near future, we can't just look from our perspective , first i think more important is digitalisation of money. If we can move the mainstream to e money than we can think of introducing crypto to mainstream and then only i think many government will take initiative to adopt crypto.

They wont have to change countries. There are methods to circumvent government censorship and these are not easy to apply. So it only becomes a game of cat and mouse and the governments would not shut down internet just for this.

Those companies which are using bitcoin or crypto as payment or so run their businesses from countries that are compliant with crypto.

There are many people running such services and it is not so tough as you all talk about. The change in price for an article which is not above 1btc price is small enough to be ignored. People buy and sell gold which is way more volatile than bitcoin and they dont think twice.

The bigger problem is the legal crackdown that such companies face.

This is too dangerous for the businesses that wants to keep their capital and those who only circulate their profit in their business as the price changes, tendencies are they will only convert it to fiat once they are paid bamy btc but may deduct some fees from them. Maybe those who are into crypto and have business will only use it but mostly many may not be able to risk their business into it yet.

What you are saying is possible but it might really take a long time. Peoples who used to invest in the ICO projects before the year 2017 were the one's who had profits and considering those peoples a lot of other investors turned towards investing into newly launched ICO projects but a lot of such projects were been classified under scam and each investor investing in those projects were left with no profits but extreme loss. This also made peoples lose their faith in the crypto markets which is making it more difficult for the crypto markets to enter the mainstream.

Moreover, the use of cryptocurrencies which is actively been traded in the illegal markets is making them more away from entering the mainstream.

This if government will not accept means things are over for their citizens and then nothing can be done as their country may face ban of crypto which means people do not have any options but just to forget it or change the country itself where it is legal .

What I think the major thing stopping the crypto markets from entering the mainstream is their decentralized nature. Cryptocurrencies have beneficial side for each investment and also can yield higher profits in comparison with stocks, bonds, gold, oil, diamonds, etc but yet they do lack of being the mainstream because of their most volatile nature. Not each of the person trusts the crypto markets as they being most volatile can face any ups and downs in their life cycle.

It would never happen but considering the negative side, crypto markets might even vanish forever leaving no trace behind as there is no authorized party behind the working of the crypto markets. Even we do not really know who is the main owner of bitcoins and who actually developed the blockchain.

Bad faith may not be the correct phrase, its easier to say that they dont wish to take part in this mode of payment and prefer to keep to fiat. Lets not jump conclusions without proof.

Well there is a point to ponder, because the countries which have banned crypto are very low economy countries where power and oppression are going above any type of democracy.

Probably the revealing of government transactions will lead to nationwide problems and dissent among public.

Many governments are still struggling with how to deal with the cryptos. Those who banned are treating it as a threat to their monetary system and don't like to lose their control over the same. I don't accept the reason of showing their corruption because it's not completely transparent, everyone knows only the balance of each address but not the person who owns it nor the country it belongs too. In fact, it's even easy for hiding the corrupted money in the cryptos and access it wherever they want in the world if more merchants start to accept cryptos through various spending options that crypto already offers.

In my opinion, this is also the main reason that Bitcoin is still not in the mainstream. However, I think that the reasons are not always that governments do it in bad faith. Through irresponsibility and panic buy, and later bear market many people lost a lot of money. Due to the lack of regulation of the ICO market, many people have been scammed. I think governments will start supporting cryptocurrency when appropriate regulations are in place to protect investors. However, it will definitely take a long time.

Point to note here that for the last 2years bitcoin price swing range has been less than 5%. Those who are citing volatility are making a wrong conclusion. Volatility would be there if you consider the time range to be more than 4-5 years. But that is absurd. Actually this is a cognitive bias used by nocoiners to make bitcoiners look bad. Just check the price charts and you will realize what I tried to say.

Governments wont accept bitcoin so easily. They have fiat and they like it. They dont want their money transfers on a public blockchain and showing all their corruption. So they wont accept bitcoin anytime soon.

If we discuss the entering mainstream for cryptocurrencies, thinking like a business plan will make things easier. Putting the business plan in front of the investors, preparing it and adding the advantages are necessary for convincing the investor. If there is no real use case for the majority of the projects, the investor will take the second option with the higher use case by people in normal life. The applied cases are our best argument for competing with physical assets.

I think Crypto is hardly entering the mainstream simply because our society is not ready yet for this kind of monetary system. Besides, due to some issues on government like the prohibition of this technology is having really a big impact. Could be one reason is that Crypto is too abstract. Though investors who have already experienced using this in their transaction there are still a large number of people who have to prefer to invest in physical objects such as golds. Therefore. there are lots of factors that could still affect Crypto upon entering the mainstream but if we will give some more time for people to understand I am pretty sure that this will eventually become mainstream.

Nobody will purposely plan for themselves to fail likewise no technology especially when its greatest wish is to succeed by dominating their respective industry. Bitcoin isn't its biggest enemy instead the greedy Investors and those we might consider them to be stakeholders in the industry like whales, exchanges etc, are the biggest enemy of the technology. A closer look at the market and you can easily observe the level of manipulation ongoing from direct manipulation (bot trading, volume fixing aka exchange manipulation) to indirect manipulation cause by fud spread by news media to cause panic among the community resulting to investors losing hope and sell to avoid losses.

All this are what's contributing to the huge price difference, the so called influencer aren't helping matter as their greed overshadow their passion for the success of the industry. They openly support scams been either by been partners or advisors to shady projects, using their fame and reputation to decieve gullible Investor/noobs which give the industry a negative reviews when this projects turns out to be scam. Until we have found a way to eliminate the need of giving powers to selective few companies to dictate what happens in the industry by manipulating it like the like of exchanges, wallet providers etc. The technology won't success and probably go mainstream.

One of the reasons is that prices are not always stable. At times for months it is stable and then suddenly moves abruptly. Another thing is that not all government supports it considering it can create a risk to their existing country’s currency.