Which one is better for bitcoin future? Mass adoption or huge price increase? - page 10.

Leonard2016

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Quote from: ABCbits on August 27, 2016, 01:49:11 PM

Since i see many people only care or focus about bitcoin price and they say it's good for bitcoin future. But, of course we know bitcoin is a currency and we need people who use/accept bitcoin as currency.

So, Which one is better for bitcoin future? Mass adoption or huge price increase?
Of course, we're NOT talking huge price increase because mass adoption.

both are good but i think it should be obvious that mass adoption comes with a lot more benefits that one of them is a huge price increase in its future. so in other words you hit two birds with one stone if we can see mass adoption first.

shinratensei_

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Quote from: Raimonn on November 19, 2016, 07:05:52 PM

Mass adoption is better, but huge price inceases will apear on tv and newspapers, and more users will know about it. Mass adoption could later than news talk about a huge price increase of bitcoin.

I may think if the Indian cases have become a real example for this topic. Massive adoption it hasn't meant will sue to increase the size.
And the massive adoption has become the first stand for the price increase.

albertorma

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Mass adoption is better for bitcoin clearly. If everyone use bitcoin, we wouldn't talk about "bitcoin price", since bitcoin would be the main currency (though it would get more Valuable).

Everyone would be interested in bitcoin, which would bring us a lot of new possibilities and functions around bitcoin.
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ethereumhunter

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Quote from: d@nte on November 19, 2016, 05:16:44 PM

Price increase and mass adoption are important factors for Bitcoin, and one depends on the other. I think that if there is mass adoption, there is a network effect, more people are aware of the usefulness and importance of Bitcoin, and they bring this knowledge to people who don't know about it. This generates demand, and consequently promotes an increase in the price of Bitcoin.

and if the two of this is really happen for future then the network will be upgrade to adjust the growing of bitcoin user and the price so bitcoin itself will be reach more user and maybe we can see that if all being setup for mass adoption, the network will work in new stage to handle many transaction.

Raimonn

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Mass adoption is better, but huge price inceases will apear on tv and newspapers, and more users will know about it. Mass adoption could later than news talk about a huge price increase of bitcoin.

sakinaka

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That's obviously mass adoption, because that will then lead to the huge price increase. What's even better is that it will happen thought the course of the years.

Rinder

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Im sure we need mass adoption if bitcoin price stand at this stage between 600-700 dollars its a great ammount already, if we can go anywhere and pay directly with out bitcoins wouldnt it be better? Then bitcoin being worth 900 dollars? I do wish we achieve mass adoption and bitcoin be a payment option everywhere, soo i can spend some of my coins without have to exchange into fiat.

d@nte

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Price increase and mass adoption are important factors for Bitcoin, and one depends on the other. I think that if there is mass adoption, there is a network effect, more people are aware of the usefulness and importance of Bitcoin, and they bring this knowledge to people who don't know about it. This generates demand, and consequently promotes an increase in the price of Bitcoin.

Harlot

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I think it needs to co-relate with each other as in order for bitcoin for it to increase its price it had to have demand, For it to have demand many people must use it and allow others to be introduce with bitcoin. I also have encountered a situation myself I have experienced as I have come across a news saying that "bitcoin prices are more stable than gold" which I become curious with it and now up to this date is loving bitcoin.

thejaytiesto

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Bitcoin is not suited yet from mass adoption. If millions of users jumped out of nowhere into bitcoin, we would have problems in terms of slow transactions and so on. It is better to stay under the radar until lightning network is operative.

Labumi

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Quote from: marleybobthedog on November 03, 2016, 09:00:34 AM

I prefer mass adoption but i think that bitcoin network is still not ready for mass adoption because there is very limited number of miners to verify the payment. So if mass adoption takes place then there might be very delay in payment so till then more miners should come up with improved system for faster verification.

That is certainly true, but that I don't think it will be a problem. Because as long as there are still many miners then all transactions will still keep going and so do miners they do it all because it will benefit from each transaction. So this is not an issue, so keep working and get a lot of BTC. the bad is the lack of user bitcoin, miners and therefore will destroy the growth of bitcoin

marleybobthedog

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I prefer mass adoption but i think that bitcoin network is still not ready for mass adoption because there is very limited number of miners to verify the payment. So if mass adoption takes place then there might be very delay in payment so till then more miners should come up with improved system for faster verification.

Taki

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I have voted as many others for mass adoption. Demand affects the most on bitcoin popularity. So mass adoption will be only for best for bitcoin future. I doubt that high pice is going to be good for bitcoin. High price is going to be good only for holders of big amount of bitcoins, not for bitcoin as currency.

poplolnman

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Quote from: Aamir1 on November 03, 2016, 06:34:40 AM

Quote from: mlbs on November 03, 2016, 06:21:53 AM

This two should go together, i guess. Because how can a bitcoins' price remains low if there is no mass adoption, right?. Same as how can a bitcoin's price continue to increase if only few people know about bitco8n or if only few are using them. Mass adoption is a great way for huge price increase.

So the basic thing is that mass adoption is what really matters for bitcoin, because if there is no adoption at all the price might grow but it wont grow as much as it would if there will be mass adoption, that is why mass adoption is the most important thing bitcoin needs to progress.

i agree with these both things should run together as both are same important and needed each other. huge price increase happened already several times but look at now , there still few store accept bitcoin. mass adoption needed here. once there a lot of company adopt bitcoin it would automatically drive bitcoin price increased too.

yayayo

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Quote from: AngryDwarf on November 03, 2016, 08:01:33 AM

Mass adoption would be better, but if it was to happen right now it would kill the coin because a fee market can't develop on a full blockchain. It becomes a never ending fee race spiral. There is a lot of technological progress that needs to be made before the masses can adopt bitcoin. Today, bitcoin requires a lot of underlying technology understanding to have confidence in it. That is something the masses do not want to know.

Exactly. Bitcoin is not yet ready for mass adoption. An excessive increase in adoption at this point in time might even be a threat for the currency, because people come with unrealistic expectations that can't be fulfilled. Ideally, adoption should expand gradually, in line with technological progress. Nothing is gained from adoption if Bitcoin becomes unusable in the process or is exposed to centralized political influence because of a large group of misinformed new users.

So I think neither mass adoption or a huge price increase are really good at the present point in time. We need more technological progress in terms of capacity and privacy first. With Segregated Witness and Lightning Networks, the first aspect is currently being addressed.

ya.ya.yo!

AngryDwarf

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Mass adoption would be better, but if it was to happen right now it would kill the coin because a fee market can't develop on a full blockchain. It becomes a never ending fee race spiral. There is a lot of technological progress that needs to be made before the masses can adopt bitcoin. Today, bitcoin requires a lot of underlying technology understanding to have confidence in it. That is something the masses do not want to know.
Mass adoption would cause a price rise, since not everybody on the planet can hold 1 BTC. There will always be price volatility, it happens today with the US dollar. But if you are paid in bitcoin and spend in bitcoin, people will pay about as much attention to exchange rates as they do with the currency in the pocket. It's the price in bitcoin of what they consume with it that they will notice more, and in general that is going to be deflationary rather than inflationary, influenced by regional economic performance.

Aamir1

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Quote from: mlbs on November 03, 2016, 06:21:53 AM

This two should go together, i guess. Because how can a bitcoins' price remains low if there is no mass adoption, right?. Same as how can a bitcoin's price continue to increase if only few people know about bitco8n or if only few are using them. Mass adoption is a great way for huge price increase.

So the basic thing is that mass adoption is what really matters for bitcoin, because if there is no adoption at all the price might grow but it wont grow as much as it would if there will be mass adoption, that is why mass adoption is the most important thing bitcoin needs to progress.

mlbs

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This two should go together, i guess. Because how can a bitcoins' price remains low if there is no mass adoption, right?. Same as how can a bitcoin's price continue to increase if only few people know about bitco8n or if only few are using them. Mass adoption is a great way for huge price increase.

croutonhexagon

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Mass adoption is better and I want it because mass adoption will demand more bitcoin then it's price will go up and price fluctuation will get reduced because one bulk buyer will not be able to define the faith of its price. Also mass adoption will increase the bottom acceptance payment gateway in various places like malls, hotels, office and everywhere it's possible

xdrpx

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I'd say mass adoption. With mass adoption comes increased price stability and less control by certain whales who can pump and dump the price artificially with their massive finances. It'll also enable us to have more places to spend and buy Bitcoins from and more control over decentralization of it. It's always preferred that with mass adoption there's no restrictions or regulations imposed by the Governments, cause this would hinder mass adoption.

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