When we can expect mainstream adoption of cryptocurrencies?

aliwinchester

newbie

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The main problem is banks or governments are not taking it easily because they can’t control it at all. But we have seen many revolutions that took place in this earth. Cryptocurrencies are advanced currency, it will take a bit time. But in 5 years we will see a huge wave of cryptocurrency in mainstream system.

Actually it never been easy to be adopted by banks and goverments , so many challenges even it's so advanced with the 4.0 technology .
Actually i think they're considered Bitcoin as a threaten not a good technology or tools to be used.
So Bitcoin could never be adopted by banks and goverments.

Tipestry

newbie

Activity: 98

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Speaking of Antonopoulos, he said one of the most important things ever heard on this subject: (paraphrasing) - the interesting thing Bitcoin is not using it to do things you could already do with fiat, but the things that are now possible that weren't before.

Personally I think the most promising example of that is using microtransactions to pay as you consume web content and giving people small amounts of money to reward them for posting things on user-generated content platforms.

hodlftw

full member

Activity: 326

Merit: 104

Santa Coin

Quote from: drachman on March 26, 2018, 09:14:51 PM

Quote from: chimex2000 on March 24, 2018, 06:18:20 AM

When we can expect mainstream adoption of cryptocurrencies?

This is very important question and one of the most frequently asked questions.

Here is my opinion

I was trying to research a little bit. I will share my opinion based on Andreas M. Antonopoulos speach.

If we look back in the past, there were 2 great revolutions. In the 16th century, we had 1st revolution. Gold was replaced by piece of paper. Yesterday you were paying with gold and tomorrow you will replace gold with peace of paper! It was huge change in our history. After 400 years, in the 20th century we saw big mainstream adoption of paper money. So, it took 400 years!

In the 1950s, we had 2nd revolution. Paper money was replaced by debit cards. First, gold was replaced by piece of paper and now piece of paper is going to be replaced by money that is hidden in piece of plastic. That money is not even visible. You get your salary that is not even visible and you have to trust your boss that your money is on your card. According to Mr. Antonopoulos, even in the 1990s he wasn't able to use his debit card in most of european countries. So, this revolution took 40-50 years!

We have now 3rd revolution. I am not even thinking that this is going to be banned. This will be widely used but the main question is when?!
Guys, please understand this. If they think that bitcoin is dangerous, it would be banned! all banks are controlled by small group of people. Most of crypto exchanges are actually banks. So, if they want to block or ban crypto, it would already happen! They are buying more and more and once they own more than 80-90% of BTC, it can be used in everyday life! They will own more then enough to prevent huge volatility and cryptocurrencies will be broadly used!

For this adoption, we have everything we need. We have internet, we do not need to make new technology that will allow this technology to be adopted.
Adoption won't follow the price, price will follow adoption!

So, maybe 3 years, maybe 5 years but it will happen. Do not miss the opportunity!

If this somehow resonates with you, join our telegram channel where we share lots of insights and even trading tips https://t.me/cryptocurrencyzone

While it is interesting to discuss when that is going to happen one of the questions that we need to ask ourselves first is if it is going to happen at all? After all there are many opponents to cryptocurrencies and they are not small at all, they are some of the most powerful opponents in the entire world, governments and banks so while I think that the mainstream adoption of bitcoin is possible we should not expect it too soon.

Why wouldn't it? You think these big banks and institutional firms are buying it so they can dump it down to 0? It would be in their best interest to make some money off it, but hey if they stand to make more money by dropping it to 0 then maybe they will do just that.

drachman

sr. member

Activity: 756

Merit: 252

Quote from: chimex2000 on March 24, 2018, 06:18:20 AM

When we can expect mainstream adoption of cryptocurrencies?

This is very important question and one of the most frequently asked questions.

Here is my opinion

I was trying to research a little bit. I will share my opinion based on Andreas M. Antonopoulos speach.

If we look back in the past, there were 2 great revolutions. In the 16th century, we had 1st revolution. Gold was replaced by piece of paper. Yesterday you were paying with gold and tomorrow you will replace gold with peace of paper! It was huge change in our history. After 400 years, in the 20th century we saw big mainstream adoption of paper money. So, it took 400 years!

In the 1950s, we had 2nd revolution. Paper money was replaced by debit cards. First, gold was replaced by piece of paper and now piece of paper is going to be replaced by money that is hidden in piece of plastic. That money is not even visible. You get your salary that is not even visible and you have to trust your boss that your money is on your card. According to Mr. Antonopoulos, even in the 1990s he wasn't able to use his debit card in most of european countries. So, this revolution took 40-50 years!

We have now 3rd revolution. I am not even thinking that this is going to be banned. This will be widely used but the main question is when?!
Guys, please understand this. If they think that bitcoin is dangerous, it would be banned! all banks are controlled by small group of people. Most of crypto exchanges are actually banks. So, if they want to block or ban crypto, it would already happen! They are buying more and more and once they own more than 80-90% of BTC, it can be used in everyday life! They will own more then enough to prevent huge volatility and cryptocurrencies will be broadly used!

For this adoption, we have everything we need. We have internet, we do not need to make new technology that will allow this technology to be adopted.
Adoption won't follow the price, price will follow adoption!

So, maybe 3 years, maybe 5 years but it will happen. Do not miss the opportunity!

If this somehow resonates with you, join our telegram channel where we share lots of insights and even trading tips https://t.me/cryptocurrencyzone

While it is interesting to discuss when that is going to happen one of the questions that we need to ask ourselves first is if it is going to happen at all? After all there are many opponents to cryptocurrencies and they are not small at all, they are some of the most powerful opponents in the entire world, governments and banks so while I think that the mainstream adoption of bitcoin is possible we should not expect it too soon.

player514

legendary

Activity: 1414

Merit: 1039

Quote from: chimex2000 on March 24, 2018, 06:18:20 AM

When we can expect mainstream adoption of cryptocurrencies?

This is very important question and one of the most frequently asked questions.

Here is my opinion

I was trying to research a little bit. I will share my opinion based on Andreas M. Antonopoulos speach.

If we look back in the past, there were 2 great revolutions. In the 16th century, we had 1st revolution. Gold was replaced by piece of paper. Yesterday you were paying with gold and tomorrow you will replace gold with peace of paper! It was huge change in our history. After 400 years, in the 20th century we saw big mainstream adoption of paper money. So, it took 400 years!

In the 1950s, we had 2nd revolution. Paper money was replaced by debit cards. First, gold was replaced by piece of paper and now piece of paper is going to be replaced by money that is hidden in piece of plastic. That money is not even visible. You get your salary that is not even visible and you have to trust your boss that your money is on your card. According to Mr. Antonopoulos, even in the 1990s he wasn't able to use his debit card in most of european countries. So, this revolution took 40-50 years!

We have now 3rd revolution. I am not even thinking that this is going to be banned. This will be widely used but the main question is when?!
Guys, please understand this. If they think that bitcoin is dangerous, it would be banned! all banks are controlled by small group of people. Most of crypto exchanges are actually banks. So, if they want to block or ban crypto, it would already happen! They are buying more and more and once they own more than 80-90% of BTC, it can be used in everyday life! They will own more then enough to prevent huge volatility and cryptocurrencies will be broadly used!

For this adoption, we have everything we need. We have internet, we do not need to make new technology that will allow this technology to be adopted.
Adoption won't follow the price, price will follow adoption!

So, maybe 3 years, maybe 5 years but it will happen. Do not miss the opportunity!

If this somehow resonates with you, join our telegram channel where we share lots of insights and even trading tips https://t.me/cryptocurrencyzone

I feel like the use of Bitcoin and cryptocurrencies in general is contingent on the usage of technology by not just the general public, but by everyone. That means that Bitcoin can be used by anyone who wants to use it and it can be a major currency. However, there are so many people in the world who don't even have access to any form of internet. That blocks the desire for bitcoin to be used across the world. When everyone has access to technology we will be able to see a bitcoin-driven world.

carter34

member

Activity: 1302

Merit: 25

Quote from: Biscutard on March 26, 2018, 01:45:54 PM

If we are all along pushing it, it would not be enough. It will require such an international agreement before it would happen but as of now and in the coming future. Not everyone has come to agree with it which i consider this as a their own personal agenda if they keep making such negative news that would affect the economic price of crypto.

The international agreement is what is difficult to achieve because lately, we have seen that so many countries have been working towards being totally free from any international agreement or organization.

richardsNY

legendary

Activity: 1232

Merit: 1091

Main point of importance is that we first need to close the massive gap between Bitcoin and fiat related payment infrastructure. If we look at what credit and debit payment services offer, then it's safe to say that it will be an extremely difficult task to even remotely catch up. On top of that, we also have the giant potential of Bitcoin playing an important factor as to why people might or will not spend their coins. Let's be honest, if we look at how the price has gone up throughout the years, then I don't have to point out that spenders are losers. I know that spending is great for the ecosystem as a whole, because it indicates actual usage, but we're just not there yet. The price need to properly stabilize in order to incentivize people to use it to purchase goods. Till that time speculation and long term store of value will be the main attraction....

Biscutard

full member

Activity: 759

Merit: 105

If we are all along pushing it, it would not be enough. It will require such an international agreement before it would happen but as of now and in the coming future. Not everyone has come to agree with it which i consider this as a their own personal agenda if they keep making such negative news that would affect the economic price of crypto.

seoincorporation

legendary

Activity: 3346

Merit: 3125

Just forgot to mention all the technology we don't have yet in order for bitcoin to become mainstream!!
From my point of view, this is going to be possible when the payment system reaches everybody, or, at least, a great part of the human population. I mean: as well as we all can use bitcoin on restaurants, stores, and so, meaning, in daily life, it will be accepted by more and more people. In order to make that possible, we need a complex technology which allows that kind of payments, as a mobile app. Restaurants, stores,& co., will need a way to receive those payments on the very moment, and a kind of insurance system which make them comfortable about not being hacking or robbed in any way. Bitcoin is still far away from achieving those points, but it is taking a good path and we will be able to see bitcoin mainstream in maybe 10 or 15 years. Besides, look around you: many people still don't trust on the internet for shopping, or they don't want to use fiat instead of paper money.
Regardless the useful bitcoin already is, I believe those kinds of implementations will be necessary for bitcoin to become mainstream. And, of course, the responsibility or making it true resides in our hands.

Dart18

sr. member

Activity: 1400

Merit: 259

Do you really think they are the one buying it?
This bank owners are businessmen and the risk they will take into buying an internet technology which cannot be seen or touch is far too risky. They cannot swallow that.
I do think this buyers are the techies and those who really know what internet is. People who believes that someday it will be all about the internet.
Even those banks will be replaced by something else which could be accessed by your internet only.
That will be bitcoin.

Let us see if they will really have that larger percentage in the upcoming years. We still have a lot of holders.

kaya11

full member

Activity: 1344

Merit: 110

SOL.BIOKRIPT.COM

Well as for now it couldn't get to that point, with it's volatility that is high and few amount of users. Maybe some other time when it will be accepted by most of the population of the world, it's being widely accepted and it's users are dramatically increasing. Another thing is the high transaction fees, it would be very high in the future, network will be congested and devs should make a solution for that. As of now becoming mainstream is not possible unless the said problems would be solved, it's an asset for me and it's fine to stay with that for a moment.

cryptoroi

newbie

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Beautiful findings. Never thought about it in this much detail. Yeah, it takes time to replace something that’s here for centuries. It will take a bit time, but I believe it’s gonna happen in near future.

arpon11

sr. member

Activity: 882

Merit: 282

To Me mainstream is a process and we cannot really said this days, month or year bitcoin or any of the cryptocurrency will be widely accepted as money or adopted as currency. We have seeing the process since 2015 were people began to here about it and how many people have discussed about it including the recent one at G20 meeting. Many people did not know that cryptocurrency will get to were it is today and we are close to wide adoption than were we began.

palle11

sr. member

Activity: 2366

Merit: 332

Quote from: chimex2000 on March 24, 2018, 06:18:20 AM

For this adoption, we have everything we need. We have internet, we do not need to make new technology that will allow this technology to be adopted.

So, maybe 3 years, maybe 5 years but it will happen. Do not miss the opportunity!

Did I read anybody giving a specific time or year for that revolutionary adoption? Nope!. This is because ,in the past financial revolutions where gold was replaced with fiat or paper money, from paper money to cashless represented by loading money in plastic cards, the change wasn't spontaneous. Thus, this present advocation won't catch most people unaware. It must be gradual and assimilating but it will happen.

Quote from: chimex2000 on March 24, 2018, 06:18:20 AM

Adoption won't follow the price, price will follow adoption!

This is exactly what should happen. It is the adoption and usage that will control the price. The higher the request, the effect on price.

boyshx

sr. member

Activity: 574

Merit: 251

Whatever revolution theories you have put forth are true and no one can deny that. BUT, those revolutions happened with the government agreement and they were the one to choose whats right for the public and what is not. The point that we are missing here is simple, crypto currencies are not formed as result of some company, some revolution and unfortunately not with the agreement of government itself. This is bad impression on the government and it will be hard for them to accept anything like bitcoin because it break downs all the rules and regulations that government has levied on the fiat currency or other payment procedures. It works with some central procedure and that is why it is accepted. So I see some loopholes here whether they will accept it or not and whether this will be real revolution or not.

13abyknight

sr. member

Activity: 602

Merit: 252

It's going to take a while for the exact mainstream adoption of cryptocurrencies across payment processors as it comes with a lot of strings attached. The main problem here would be the customers who would not be willing to approve the use of diversified tokens as they would much prefer using the best ones on the current market, like Bitcoin and Ethereum. With that said, I believe it will be a hard task for coins to be accepted across platforms due to general issues like volatility and price fluctuations.

squatz1

legendary

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Flying Hellfish is a Commie

No one knows when it's going to come, I personally think that the adoption will come in when the tech is able to show that it is on par with credit cards, debit cards, and other things which are easy for people to use. The LN (lightning network) is what this will be, once people are able to use this with mainstream adoption with all the wallets supporting it, exchanges, companies etc.

LN is what we need. We need to compete with credit card companies.

joinfree

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1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

That is true, but i do not think that there will be a mainstream adoption over cryptos anytime soon.

Indeed.. the most "nearest" thing that happened to this kind of adoption was all this hype on december, when every shit did more than x3.

Quote from: ?? on ??

The main problem is banks or governments are not taking it easily because they can’t control it at all. But we have seen many revolutions that took place in this earth. Cryptocurrencies are advanced currency, it will take a bit time. But in 5 years we will see a huge wave of cryptocurrency in mainstream system.

FrueGreads

legendary

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Merit: 1059

Look, I do agree with you, and I also think bitcoin has the potential to become the next revolution in our financial system but I think that 3 or 5 years is just not enough time for that to happen. I think we are probably talking about decades here. As for banks buying BTC in order to hold 80% or 90%, I don't think it would make them any good. Don't forget that the more they buy, the more expensive BTC becomes, so they would just be holding BTC and nothing else. Of course that by holding "a monopoly", that means that they could manipulate the price, but nothing more than that.

BTC poses any threat to countries, as long as taxes are paid, but crypto does pose a thread to banks as it makes them obsolete, so I don't think that banks are buying crypto. The only reason they would have to do that, would be to try to spook the markets with massive sells, and to try to make it crash. I don't think they would ever succeed in doing that though, because it would probably get very expensive to them and there would be no guaranties that it would work, because people keep buying the dip, so it's hard to imagine BTC "going to 0" at any given time.

tora

member

Activity: 532

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I have to agrre that banks will not readily accept crypto until they have control over it. They do that with everything for safety. Lending,mortgages exchange rate. Banks are in control.

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