Bitcoin Forum

Despite the legal frustration faced by Libra and GRAM, altcoin is in line with the historical evolution of payment system; from bartering to the first coin ever minted (in 600BC)  to bank notes to credit card.

In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adoption compare to the previous years but in a very slow pace.

I believe that centralized coins can have a role to play in the overall cryptocurrency market but we should always remember that this is not the step forward we are all wishing for, in fact can be a step backward from where we are now. Maybe you must be referring to market realities that we also have to contend with, we could not get away from big organizations (like Facebook and Telegram) that have the resources, clout and influence to make a project really works.

Facebook's Libra can definitely improve on the adoption rate as the very social media platform itself is representing billions of people, the same thing with Telegram. But is the only we can push forward the adoption...not other viable way? Should we sacrifice decentralization for adoption? These are the things running in my mind right now.

Has a point. Although as a community we can achieve by simply agreeing even without the authorities but we're still living on different jurisdictions that has laws to follow so that's why considering the full decentralization is going to be a bit far from now. But we don't know what will happen in the future.

We will be there but the altcoin market is too crowded and there should be an extermination before this massive adoption to come.

Trial is part of the process and once this industry complies with all the basic rules and regulations, no one can stop its growth, everything just need to be at right place. Companies want to be involve need to sweep their ground first to get nod of regulators.

Time is what this technology needs, whatever we are experiencing right now is just normal challenges and trials and i am sure it will be over soon, altcoins need to hang in there and once this period did the most a big changes will take place..

Altcoins have a bright future for me although it has to be the best among them only. Altcoins are already overcrowding the world of crypto. While many of them have already died and many are also being treated as nothing, it is my estimate that if the world will finally adopt cryptocurrency as the main alternative to fiat, altcoins have a huge role to play. The conversion of the old world into a digital one would really help the need of other digital currencies aside from Bitcoin.

I think that the evolution of cryptocurrency will lead to one altcoin with the best technical characteristics that are possible. At the same time, a some number of specific altcoins will remain (not as much as now ;)). This can be compared with the globally recognized dollar and other currencies.

That's very similar to the dotcom bubble, i should agree with your statement if the decentralization will not be achieved but at least they will be keeping it as a part to create a good platform. The decentralized can help the altcoin to get a better security that can protect the platform.
I believe it can't be fully decentralized since the regulator will always never allow altcoins become decentralized and altcoins must follow all of the regulation to start an operation in such country.
The mass adoption is slowly growing a lot. But my point is altcoin is in line with the evolution of payment system consider any blockchain that has already developed in various altcoins are focusing to put the scalability problem at the top of the development progress and that was having a very important relationship with the evolution of the payment system.

The issue with altcoins is that most aim to solve same problem, without any major improvement. Too many altcoins sprout on weekly basis and if it continues this way, people will be confused on which altcoin to invest in.  Project team members need to think out of the box to come up with something that will be easily adopted in real world, not doing similar projects over and over gain. Adoption won't be easy to come, we all just have to be super patient.

There is a failure with the Credit card and Debit card in the whole world. This is also the problem that is facing with cryptocurrency.
We all know that in every country or most of them, not all places having card transactions due to internet connection issues.
There are so many countries who have no good provider with this connection if they have not the whole territory.
And not just that, we even in urban places or in shopping malls sometimes experience the off-line and we can't use the plastic cards to pay the bill.
So, how can we have this evolution to step-up in full cryptocurrency if the system is depending on the connection of the internet? how about those who don't know how to use the digital evolution?

Cryptocurrencies are the obvious next evolution of the payment systems, but we don't know if that is going to be decentralized OR centralized cryptocurrencies. I think that once with the new technological era a paradigm shift is needed in the world so we can leverage the "trustless" power of Bitcoin and blockchain. The effects of currency centralization is yet to be faced hardly by the population. Look at the debt of United States, how are they going to cover that. I'll tell you: by creating more debt, thus the us dollar will fall like a rock.

Only the strongest altcoins can bear the critics and survive on this current trend, the altcoins season can still happen and we can achieve it with a big help of bitcoin. The evolution of payment is getting better and faster, altcoins are doing its best to survive, they will do their best so look only for the top coins.

We are in the process of surviving in the trial, there will be many trials happen in the future for the altcoin. because the adoption requires resources and we do not have it now to cover all of our current altcoins. Decentralized or not, it does not matter anymore because only the survived one will be used and adopted by people.
but will you be able to hold it despite knowing it?

Yes you are right. Cryptocurrency is going forward with the indication of its massive adoption. So far only few countries are on track to adopt cryptocurrency and few countries and business hubs have started accepting it in the method of payments. Regulators and authorities talking about bringing  regulations in place aim to adopt cryptocurrency.   

Altcoin time would come sooner or later, because they are representing the true revolution in payment sector, by providing a working solution like 100,000 transactions per second and low transaction fees, but it would take a long time till those will get adopted.

The father of all coins which is Bitcoin is in the process of achieving mass adoption and if succeed then I'm pretty sure that altcoins will follow but not all of them because there are lot of unnecessary coin that needed to be remove first before the full realization.

Sure, there will be a massive adoption in the end but with the regulations and the way they have turned crypto into real money like system they are not really worried about crypo anymore. Look at USDT for example, those dudes keep printing money whenever they want and they buy bitcoins with it anytime they want and let it go down after a while and then do it again so they are collecting all the bitcoins in the market, what do we get in return?

A useless USDT product that you can't even turn into cash anymore, they literally said it was backed 1to1 ratio back when they started but then confessed that its no longer backed 1to1 and people still eat it up and buy it, so as you can see the governments do not care anymore, they got themselves another cash cow anyway.

Full decentralization will never be achieved as long as there is this institution called the government.  Let's just accept the fact that with government regulation, any decentralized cryptocurrency will be centralized through a third party platform wherein the addresses will be attached to the identity on that platform.  Altcoin adoption will not be slower than before, I believe it will propagate faster because of the  activities and campaigns done in the past. 

Indeed adoption is a reason that is a major problem in the crypto space and this is also made worse by government regulations that do not support crypto. But I'm sure that someday adoption will be achieved and the government will realize that there are many benefits they can get from the crypto space.

It would really be very difficult to overcome any issue with government if the project is a centralized project, and this is why satoshi is still the wisest person that I have ever seen when it comes to crypto world. Imagine that satoshi had made himself know to the world, this issue being faced by Libra coin and gram is what will be faced by bitcoin also and it may never have grown or be accepted as much as people accepted it now.

Even if people want to take gram and Libra coin, once they remember the stand of government against the projects, they will surely withdraw from using them. Altcoins will really need to struggle hard if they really want to succeed in their program or payment, otherwise, it will be a very big battle between them and the government.

Consider that anti advertising is also an advertisement. Much debates about these issues caused most people to hear about cryptocurrency.




Why do you think Mass adoption will continue slowly? Unlike you, I think it will accelerate as time goes on. Once this circle has established, its growth will accelerate further.

I don't it will be going all real. There's no point of returning back at being decentralized. Though it could be part of it but system has to be regulated, monitored and has an authority on top of it all. It may sound selfish but it would be all problematic if everyone would be all leave unruled. Nevertheless, it could be a part but it cannot be a thing for whole masses.

Yes, I have the same positive beliefs as you. I really support the growing alts of payment services. Many alts are really very good platforms like Credits, Litecoin and some of the altcoins have extremely low transaction costs and very fast speed.
It will undoubtedly be the most used coin in the future when many businesses start accepting cryptocurrency transactions.

Altcoin is good, it is clear that there will always be many who are interested, even many companies like it like Litecoin and others, because altcoin that has been proven to be good will certainly be difficult for us to get, although at this time not many businesses accept transactions in the form of digital currencies.

I agree with your insights No doubt that some altcoins are gaining trust as another payment option since its quite useful faster and lesser fees compare to the traditional one for example, Like stellar lumens, or Ripple these two altcoins has a future in payments and i don't know even some other platform and blockchain too that needs to be evaluated.

sadly that has not been true for about 8 years.
maybe in early years when the first couple of alternative cryptocurrencies were being created, what OP says were true since they were focusing on actual decentralization and creation of a real currency. but nowadays this is not true at all and instead we are far away from those goals. these days the projects are only being created for profit not innovation. which is why altcoin development has been halted for years and copy pastes have replaced it.

I like your candid opinion, I expect new projects to be advancing with great margin from the initially launched projects, rather the older projects are more improved than recent ones. Most new projects just look cool on whitepaper or their awesome names, but have nothing to show for (in essence most team members nowadays are just in for the money and have no plans to develop the project).  Well, very few new projects stand out keeping the hope alive. We are still very far from adoption.

I do not believe in a fully decentralised world as well. Maybe in 50 years, but the first step towards the mass adoption will be blockchain integration in various industries all around the world and acceptance of crypto as a payment method.

There seems to be a battle drawn between world financial authorities and the cryptocurrency community. Although, the likes of Libra and gram coins are centralised, yet they keep having problems with authority.
It is an indication that they are not ready to support cryptocurrency in general.

From the first moment I discovered bitcoin in the beginning of this decade, I knew in my heart that this was the next step in the evolution of money and even though this was it's taking it's sweet time to be actualised, I have never doubted for a second that it will eventually happen, now the Chinese Government sees Blockchain as "Important in the future development of China" and this is just the tip of the iceberg because many more countries would still review Cryptocurrency and decide that it's in their best interest to get into the future if money in this early stage.

The battle is not over yet for crypto and bitcoin, china have now fully embraced blockchain but still i belief there are some wars left to fight, what are we going to do about scam IEO and ICO Projects? this is a big issue for adoption rate, every investors are screaming scammers and they are scared of new projects

I think there are still a lot of ways to go, it is not really that in line with the evolution of payment systems just yet. It started from the top of it, normally the payment systems improve over time, this has been just 10 years and it is already a high grade payment system as it is.

Yes, there are still long ways to go but starting from the top means it is already at the level and even better than most of the payment systems and it will also put on top of this and get better. Think of it this way, money as we know it had been little coins into gold coins to eventually banknotes and now cards that we use (even phone apps).

So, let's give normal coins (the real life ones that were used 5000 years ago or whatever) 1 out of 100, then gold coins 50 out of 100, then banknotes 70 out of 100 and then cards 85 out of 100, bitcoin starts at 85 and then puts on top of it. Altcoins will remain as secondary way of payments along with bitcoins but what are the coins are going to survive is purely based on its investors, definitely not depends on its uniqueness nor technology innovations.

Crypto and the block chain have come to stay. In fact, I see cryptocurrencies as the future of payments. We just need to keep pushing for adoption in different industries especially the payment industry and then, we'll see a major shift from traditional banking systems to the block chain and cryptocurrencies.
Libra has taken a good step at making this happen but many people in the US are trying to bring it down because they know the impact it might have on them and their businesses. Crypto will survive this harsh time, I believe it will!