The adoption boom is coming

[Dafar]

I don't think mainstream adoption is coming at all. How many people use bitcoins to purchase stuff from Overstock?

Bitcoin is behaving more like an asset class (gold, property etc). People who want to store wealth away from the prying eyes of govt. People in places like Venezuela and Argentina who are dealing with delinquent currencies and want something to hold it's value.

But in the west normal fiat will continue to be used to purchase the necessities of life.

Bitcoin is one of those things that becomes more useful and more beneficial to all parties as more adopt it and use it. Right now it's not convenient for someone to use bitcoin if you don't already have it. For those who do already have it, most would rather hold/save them like myself. But bitcoin does bring benefits to all parties doing a transaction, these benefits are realized when more and more people use and accept bitcoin, as the in-fracture develops and as apps become more simple and convenient to use...  mass adoption is definitely coming.

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[mindrust]

I don't think mainstream adoption is coming at all. How many people use bitcoins to purchase stuff from Overstock?

Bitcoin is behaving more like an asset class (gold, property etc). People who want to store wealth away from the prying eyes of govt. People in places like Venezuela and Argentina who are dealing with delinquent currencies and want something to hold it's value.

But in the west normal fiat will continue to be used to purchase the necessities of life.

This, exactly.

That's how i use bitcoin anyway. And i know that i am not alone. I purchased some digital services with bitcoin (like domains/hosting etc) and i think it is the perfect tool for anonymous online gambling but that's mostly it.

Knowing that it will rise and rise in time makes me wanna hold my coins rather than spending them. Dunno if its a bad thing or good.

[Kprawn]

Indeed 2017 will introduce well thought out new use cases. I also believe this will influence the growth and the price of bitcoin.
MegaUpload 2.0 for example will help many people familiarize with bitcoin and is just the beginning.

I am exciting with megaupload 2.0 launching next year, with their bitcoin bitcache feature. Also there are many news about bitcoin adoption even the government services.Indeed 2017 is an exciting growth for bitcoin.

I am also exited about the possibility that Megaupload 2.0 will take off and it will push Bitcoin into the mainstream... The monetization of this is

big, and we can definitely move forward if this does take off. I just hope that SegWit and LN is implemented by then and we would not have any

scalability problems when it happens. 

[alyssa85]

Knowing that it will rise and rise in time makes me wanna hold my coins rather than spending them. Dunno if its a bad thing or good.

It's good - it's acting like digital gold. And it has an advantage over normal gold in that it is easy to get hold of and mobile.

[CoinCidental]

Mainstream adoption is coming, get coins now while you still can
Once the whales move in, whole  coins will be too expensive for the average user  ( $10k+)  and people will deal in Mbits or maybe even satoshis...

[chesthing]

Mainstream adoption is coming, get coins now while you still can
Once the whales move in, whole  coins will be too expensive for the average user  ( $10k+)  and people will deal in Mbits or maybe even satoshis...

Right now bitcoin doesn't scale for shit, so this is a pipe dream unless something comes along to change that.

[Yakamoto]

I don't think mainstream adoption is coming at all. How many people use bitcoins to purchase stuff from Overstock?

Bitcoin is behaving more like an asset class (gold, property etc). People who want to store wealth away from the prying eyes of govt. People in places like Venezuela and Argentina who are dealing with delinquent currencies and want something to hold it's value.

But in the west normal fiat will continue to be used to purchase the necessities of life.

that's because there is still no real way to earn bitcoin easily for the average people aside from buying which is not convenient for many, and also it feel like investment, many don't want to invest, they want to acquire, you don't invest to have fiat, you acquire it, so until bitcoin will not be easy to acquire it will no be on par with fiat

There will be ways for people to buy Bitcoin using their fiat money soon enough; all they have to do is wait for more countries to start doing things like what's happening in Switzerland along with having more trustworthy phone apps acting as wallets for users. If they can get something like that on their phone, they will be a lot more inclined to use it instead of what they'd get if it was restricted like it is right now.

[CoinCidental]

Mainstream adoption is coming, get coins now while you still can
Once the whales move in, whole  coins will be too expensive for the average user  ( $10k+)  and people will deal in Mbits or maybe even satoshis...

Right now bitcoin doesn't scale for shit, so this is a pipe dream unless something comes along to change that.

Scaleability is a war at the moment but no matter who wins, bitcoin will be extremely valuable....
It doesn't really matter whether the block size is raised or small  txs go on sidechains.... Btc will  get much more valuable than it ever was before....

[marcus_of_augustus]

Mainstream adoption is coming, get coins now while you still can
Once the whales move in, whole  coins will be too expensive for the average user  ( $10k+)  and people will deal in Mbits or maybe even satoshis...

Right now bitcoin doesn't scale for shit, so this is a pipe dream unless something comes along to change that.

All the graphs and figures point toward adoption that is preceding exponentially ... not as fast as exponential as in the early days but exponential growth never-the-less.

It will scale whatever you and the bear FUD trolls think/say/do, it's inevitable.

That ringing in your ears is the sound of inevitability.

[BitcoinBarrel]

It's coming and everyone can feel it, but it HAS to be user-friendly for the average Joe to reach those $10k+ levels. Until an easy to use payment system or app comes along that is cross-compatible with smart phones and everything else, it's going to be hard climbing.

[n0ne]

It's coming and everyone can feel it, but it HAS to be user-friendly for the average Joe to reach those $10k+ levels. Until an easy to use payment system or app comes along that is cross-compatible with smart phones and everything else, it's going to be hard climbing.

Even now a little knowledgeable people were good to use with the help of various bitcoin wallets that were compatible with smart phones. At present people doesn't have a good understanding about the technology running behind the success of the advancing digital currency network. Soon more compatible apps might emerge over the years, so that even people who doesn't have much knowledge too can use which supports adoption.

[CoinCidental]

It's coming and everyone can feel it, but it HAS to be user-friendly for the average Joe to reach those $10k+ levels. Until an easy to use payment system or app comes along that is cross-compatible with smart phones and everything else, it's going to be hard climbing.

Even now a little knowledgeable people were good to use with the help of various bitcoin wallets that were compatible with smart phones. At present people doesn't have a good understanding about the technology running behind the success of the advancing digital currency network. Soon more compatible apps might emerge over the years, so that even people who doesn't have much knowledge too can use which supports adoption.

Mega upload 2 is just one of hundreds of new projects being developed for next year so I have no doubts that the bitcoin price will be on the moon and maybe even on the mars... 

[Denker]

It's coming and everyone can feel it, but it HAS to be user-friendly for the average Joe to reach those $10k+ levels. Until an easy to use payment system or app comes along that is cross-compatible with smart phones and everything else, it's going to be hard climbing.

Even now a little knowledgeable people were good to use with the help of various bitcoin wallets that were compatible with smart phones. At present people doesn't have a good understanding about the technology running behind the success of the advancing digital currency network. Soon more compatible apps might emerge over the years, so that even people who doesn't have much knowledge too can use which supports adoption.

Mega upload 2 is just one of hundreds of new projects being developed for next year so I have no doubts that the bitcoin price will be on the moon and maybe even on the mars... 

I'm not really convinced if Mega Upload 2 will be a success.
Sure Kim Dotcom made a big hit with the first version.But that's years ago and meanwhile several one click hosters have popped up.
There needs to be a very smart and useful business and payment model running in the background, otherwise it will be a failure.
But let's wait and see what happens.Maybe the german giant can surprise me again.

In terms of OP's believe of a coming adoption boom, I also think not too expect too much.Sure in the price can rise and reach new all time highs, but I doubt we will see that much new startups and inlux of new people joining the Bitocoin space.We are still in early stages and lots of things are way too technical for the average joe out there.Lot's of things have to progress.This takes time and needs patience if it should be done properly.

[katrimans]

Mainstream adoption is coming, get coins now while you still can
Once the whales move in, whole  coins will be too expensive for the average user  ( $10k+)  and people will deal in Mbits or maybe even satoshis...

Right now bitcoin doesn't scale for shit, so this is a pipe dream unless something comes along to change that.

Scaleability is a war at the moment but no matter who wins, bitcoin will be extremely valuable....
It doesn't really matter whether the block size is raised or small  txs go on sidechains.... Btc will  get much more valuable than it ever was before....

As long as people are ready to wait for their confirmations and getting their deals settle down in minimum 10 minutes then we need to concern about the ability of its scaling just due to block size. Even with 1 MB block size, I too believe bitcoin may test $10k price levels with this current wave of booming.

[serjent05]

I don't think mainstream adoption is coming at all. How many people use bitcoins to purchase stuff from Overstock?

Bitcoin is behaving more like an asset class (gold, property etc). People who want to store wealth away from the prying eyes of govt. People in places like Venezuela and Argentina who are dealing with delinquent currencies and want something to hold it's value.

But in the west normal fiat will continue to be used to purchase the necessities of life.

Bitcoin is one of those things that becomes more useful and more beneficial to all parties as more adopt it and use it. Right now it's not convenient for someone to use bitcoin if you don't already have it. For those who do already have it, most would rather hold/save them like myself. But bitcoin does bring benefits to all parties doing a transaction, these benefits are realized when more and more people use and accept bitcoin, as the in-fracture develops and as apps become more simple and convenient to use...  mass adoption is definitely coming.

In my part just what i did recently, i  have an account in a PTC site, i have not verified my paypal account since they need another reference documents in order to be verified. The problem is that i don;t have any documents of billing under my name instead  they are under my parents name, I am having a difficulty in sending a credit to my ptc account with paypal because there is no other way to send or transfer money to but to follow its rule. Lucky there is this netteler that accept bitcoin, i have send fund to  my ptc account with netteler thru bitcoin transaction.  The process went smooth without any problem.  It would be great if bitcoin will be use directly instead of these third party processor, but with enough adoption, things will change in the future.

[alyssa85]

I don't think mainstream adoption is coming at all. How many people use bitcoins to purchase stuff from Overstock?

Bitcoin is behaving more like an asset class (gold, property etc). People who want to store wealth away from the prying eyes of govt. People in places like Venezuela and Argentina who are dealing with delinquent currencies and want something to hold it's value.

But in the west normal fiat will continue to be used to purchase the necessities of life.

that's because there is still no real way to earn bitcoin easily for the average people aside from buying which is not convenient for many, and also it feel like investment, many don't want to invest, they want to acquire, you don't invest to have fiat, you acquire it, so until bitcoin will not be easy to acquire it will no be on par with fiat

There will be ways for people to buy Bitcoin using their fiat money soon enough; all they have to do is wait for more countries to start doing things like what's happening in Switzerland along with having more trustworthy phone apps acting as wallets for users. If they can get something like that on their phone, they will be a lot more inclined to use it instead of what they'd get if it was restricted like it is right now.

There is a whole inertia thing going on. Why on earth would an ordinary person go to the trouble of getting a bitcoin wallet or app and paying with that, if they can easily carry on as they are with cash and plastic?

The only way people will switch is if something goes badly wrong with paying with cash. And even in India right now, with the turmoil created due to the swapping of the notes in circulation, bitcoin adoption is very slow, because only a small amount of Indians have smartphones, and their internet coverage is patchy and intermittent.

Venezuela and Argentina should have been prime places for the switch to bitcoin, but only the wealthy did it, the masses didn't.

[1Referee]

I'm not really convinced if Mega Upload 2 will be a success.
Sure Kim Dotcom made a big hit with the first version.But that's years ago and meanwhile several one click hosters have popped up.
There needs to be a very smart and useful business and payment model running in the background, otherwise it will be a failure.
But let's wait and see what happens.Maybe the german giant can surprise me again.

It's of course easy to say something about a project that has not been launched yet, but the market has changed considerably in the last years, where the need for such a service is only decreasing. Competition is heavy as you also mentioned. Services in that part of the market are fighting for every dollar that they can earn. Especially when you consider that you have so many free alternatives, or alternatives that cost you way less.

OP;

The adoption boom has been an ongoing process already. It's something we can't deny at this point as the usage and the number of transactions are increasing in an incredible pace. With all the hard economical situations in numerous countries, it will give people far more incentive to dive into Bitcoin as some sort of an escape/hedge. Smart people have taken positions into Bitcoin years ago, but it's surely not too late right now. People must pull the trigger and give Bitcoin a fair chance in their own benefit. You can choose to have freedom of owning everything that you have, or continue to be a slave of the system where you don't actually own anything.

[pereira4]

Im looking forward Megaupload 2 a lot. There's a lot of people that often shit on Kim Dotcom saying he is a fraud, but I think that this is because he is a very controversial figure, but at the end of the day, he has been successful in his businesses. His fame is a good asset to get free marketing and if he can deliver at a technological, the service will be a success. Im glad the crowdfunding has been a success. Now it's his time to deliver a good package.

[~Bitcoin~]

----snippped----
With MegaUpload2 succeeding in its crowdfunding campaign, it vs set an end of January launch date. This is going to be the first undeniable use case for mainstream users. Anyone who wants to download from MU2 will need to have at least a buck or two of Bitcoin.

Finally Yours will bring it home. Content creators will monetize on this platform and content consumers will be forced to buy Bitcoin to continue consuming their content. Yours will kill Q&A services like Quora, digital marketplaces like Shutterstock and likely many other business types we can't quite determine yet.

I don't think megaupload2 will have much impact on bitcoin price, as there is lot more competition in the field of cloud storage and situation have changed a lot than few years back when megaupload used to dominate the whole cloud storage market.

Yours still is a concept, there is brave browser already for content creators to monetize their platform but they are still lacking to get any momentum.

However it is true that adoption of bitcoin will increase over next few years and we shouldn't speculate that adoption will be instant, it will require lot more time.

[Biodom]

Mainstream adoption is coming, get coins now while you still can
Once the whales move in, whole  coins will be too expensive for the average user  ( $10k+)  and people will deal in Mbits or maybe even satoshis...

Right now bitcoin doesn't scale for shit, so this is a pipe dream unless something comes along to change that.

Does gold scale? I don't think so. Nevertheless, gold is at above 7 trillion in value.
My point is even with relatively low number of tx, bitcoin could rise in price as a store of value which is relatively mobile.