[2019-06-27] Blockchain and Cryptocurrencies Finally Look Ready for Masses

[S3cco]

Blockchain and Cryptocurrencies Finally Look Ready for Masses (by Andrey Sergeenkov):
https://bitcoingarden.org/blockchain-and-cryptocurrencies-finally-look-ready-for-masses/

With a total market capitalization of more than 304 billion dollars in June, the cryptocurrency market is getting traction again after a winter suffered in 2018 and the first quarter of 2019. The odds are changing now, and summer may be coming.

The value of the largest cryptocurrencies in the market has rocketed in the last months. Let’s talk about Bitcoin, for example. The crypto king is flirting with the 10,000 level for the first time since March 2018. Also Ethereum, which coin has rallied 110% in 2019 to trade at 9-month highs close to $300 for the first time since September 2018.

On the other hand, the blockchain industry seems to be also ready to retake technology and ideas that it put on hold after the big collapse of the crypto market at the beginning of 2018.

Many well-known voices indeed called for the death of the ICO market, but nothing farther from reality. The ICO market wasn’t dead, but evolving into IEOs; bringing ideas, projects, investors, and money into the same sphere.

The bull market has returned to the crypto sphere, and the money is shinning again. Today, people are more confident about blockchain technology as well as more versed and familiar with cryptocurrencies....

[Theb]

Unfortunately the article appears to be true that price plays a bigger role when it comes to mass adoption. If you haven't remembered a lot of companies have pulled the plug on accepting cryptocurrencies when cryptocurrencies start falling down, one if the bjggest names part of it is Steam. Now that prices starts to go up again even normal people are having their eyes set on crypto no to mention Facebook has helped a lot on doing that with their announcement of Libra.

[magneto]

Personally, I disagree with this.

I don't think that it's ready for the masses just yet. While there are developments within the bitcoin network recently such as lightning network that aims to lower transaction fees and allow mass adoption to occur, these aren't widely accepted yet, nor are merchants actively utilising BTC just yet.

I think that this process will happen as a matter of time, but I just think that this article is most likely confusing institutional interest with what they view as mass adoption. BTC has certainly attracted many more institutional investors through the 2017 bull market, who will likely make moves within this bull market. But as to the real life acceptance, there is still ways to go.

[CryptoBry]

Unfortunately the article appears to be true that price plays a bigger role when it comes to mass adoption. If you haven't remembered a lot of companies have pulled the plug on accepting cryptocurrencies when cryptocurrencies start falling down, one if the bjggest names part of it is Steam. Now that prices starts to go up again even normal people are having their eyes set on crypto no to mention Facebook has helped a lot on doing that with their announcement of Libra.

The enthusiasm for bitcoin and the rest of the cryptocurrency market has been buoyed by the continuing bullish movement by bitcoin or should we say its upward price. The reality is that when the crypto market was down, it seemed that many people, merchants, developers and supporters at some point got discouraged and many just turned their back feeling hopeless. Well, all of that changed ever since we left the winter phase.

I am hoping that indeed the people are ready for the biggest cryptocurrency boom that can happen soon -- well into the end of the year 2019 and into the coming of 2020 when the bitcoin halving will occur. As to ICO, the platform has transformed into IEO and STO which are better structured and provides more protection and potential profits for project investors.

The only thing I am wishing is that we will not anymore suffer the boom and bust cycle so that more and more people will be entering the cryptocurrency market where they can stake their trust and of course money.

[Kemarit]

Regardless of what markets we have (bullish or bearish), it doesn't matter, as long as merchants are readily accepting Bitcoin as mode of payment, but they are not. You should also look at the perspective of bitcoin holders, I mean are you willing as customers to spend your Bitcoin when there is a chance to increase the price in the future? I think this is a open-ended debate, but bitcoin holders and merchants are somewhat to 'blame' here, IMHO. So it might take years before we can see Bitcoin adoption.