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September 30, 2014, 03:56:14 PM |
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Patience is a virtue.
It took PayPal about a decade to get where it is now, offering debit cards and over the counter money cards...and being accepted at major outlets. Last week I paid for a purchase at Office Depot at the checkout counter with PayPal. I was greatly amused to see it but I'd seen PayPal cards on the racks at Family Dollar and other places over the last 3 or 4 years.
Things will take far less time for Bitcoin adoption for the simple fact PayPal has beautifully conditioned the public mainstream to embrace the whole concept of "digital" online transactions. People aren't paranoid about being hacked like The Net anymore when it comes to doing online transactions via PayPal, it's pretty much "doing email". PayPal got too heavy handed though so once it's better established there are alternatives to it, Bitcoin will explode onto the scene. I also think Circle, provided it does business right, will help carry Bitcoin to John Doe and Suzi Homemaker with ease. They don't have to do a bunch of heavy research trying to understand bitcoin...they can consider it just easy digital cash and use Circle to buy, sell, send and receive money in seconds for free, and use it to pay for stuff. Just "fund" their Circle account and have at it.
That is what breaks the barrier for the public. They don't give a shit about Satoshi and they aren't reading two sentences of the white paper and they're not going to take on the learning curve of downloading wallets or any of that and they don't need to - they're the "herd" that makes the ranchers long term gains so handing them Circle (because yeah I'm a total fangirl at this point) they can get on board with ease.
I hope, HOPE Circle can figure out a *card* option, debit or however they'll ultimately do it, or a bitcoin gift card - so people can use it anywhere and it exchanges on the back end. That right there will be the trigger, along with the apps that gets it done.
To those who are legitimately paranoid about the longevity of bitcoin every time the price falls, don't be. Rising and falling is the nature of the beast. Look around at the multimillion dollar businesses who are adopting bitcoin, who are creating and developing tools and utilities and products to get bitcoin on the street, the news and governments who have already legitimized it regardless of the spooky articles, and what you see is INFRASTRUCTURE being established FIRST...and testing and short trials to work through the bugs and issues on a lower scale so that when Suzie Homemaker is introduced to it, she doesn't shrink in horror at the realization she should've paid attention in 5th grade math.
These are real businesses and real millions of dollars are being thrown into bitcoin - these people are in it to win it, they're not about to throw money into a scam of this magnitude and risk losing their entire net worth on a shaky ponzi that comes crashing down, or is at the mercy of the volatility. They're working to overcome it, fix it, find solutions...this was not happening 5 years ago. This is pure positive growth, it's not a scam or a phase or a fad.
This is how you can rest easy that the mass adoption will arrive and the coin you hold today *along with* the coin to use to do transactions whenever possible through the evolution and adoption process, will result in enormous wealth on the long term. Buy a couple and hold it. Buy more and USE IT, spend it, get yourself used to using it every time the opportunity arises.
Its value comes through those who accept and use it. This is happening and growing.
When you see all these businesses bailing out and closing down and rejecting it, THEN worry..but for now, embrace because Bitcoin isn't going anywhere at all.
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