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Author Topic: On what year crypto in general will be massively adopted?  (Read 1693 times)
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May 08, 2017, 03:50:53 AM
 #21

Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?
It's a crapshoot and basically, it comes down to looking at the users on an individual level rather than trying to lump countries together. Maybe if there is some sort of renaissance with the technology we can start to see some advancements but until then chances are there will be nothing happening.

Japan is always kind of weirdly ahead when it comes to advances in technology, but they also have a very different culture. India is doing ok for what should be expected of their country, and China will likely deal with the authoritarianism for a long time to come. We'll see how rapidly it takes off.

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May 08, 2017, 03:54:33 AM
 #22

Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?

Well if the most country will making legal in all of the country so thats the time they will adopt the crypto currency. But before that they should know the bitcoin first because without it they can know about crypto currency. I think 10 years from now? because not all of the country know bitcoin already so it really takes a time



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May 08, 2017, 04:00:28 AM
 #23

Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?
No doubt that Japan accepted Legaly but if you will see the rules , then you will came to know that there are taxtation system in that are also need for the country growth .
And here now the chances for the India to accept Legaly the bitcoin , and many things are favourable for the descion to accept bitcoin , Because with the help if the bitcoin we can stop the black money system .
But if the bitcoin will accepted by the china then I think that will be turning point of the bitcoin to grow Because in the china already millions of the people are using bitcoin and Mining Because of cheap electricity .
Hope this will happen and we can grow easily to get more and more success in the bitcoin and starts to make payment with the bitcoin and altcoins to buy ny products .

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May 08, 2017, 04:42:00 AM
 #24

I think this year will be crucial because couple of big countries are in process to frame rules and let the status known regarding their stand on bitcoin which will clarify lot of thing and its future. Also bitcoin has reached all time high of 1600+$ recently which will attract more buyers attention towards it as a investment purpose.

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May 08, 2017, 04:55:16 AM
 #25

I think this year will be crucial because couple of big countries are in process to frame rules and let the status known regarding their stand on bitcoin which will clarify lot of thing and its future. Also bitcoin has reached all time high of 1600+$ recently which will attract more buyers attention towards it as a investment purpose.

Yes because at least if this rich countries adopt them bitcoins it would not greatly affect there economy, whereas other 3rd countries they would really need taxes to make there own budget for economic growth. i must also suggest that many millionaires disregarding countries are already getting richer in just investments alone. There are also countries who has their mining facilities so i guess other countries also would adopt crypto currency by mining.
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May 08, 2017, 12:37:54 PM
 #26

In accordance of bitcoin fains, bitcoin is a loving currency because of its anonymity and  apex.
Its fains have creted petitions to respective governments to anounce bitcoin as a legal currency. So, the bitcoin is defenite to get acceptance globally soon

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May 08, 2017, 02:35:28 PM
 #27

Japan accepting bitcoin is one big step for bitcoin integration but I don't believe that the in the next 5 years there will be any huge changes in bitcoin integration, but the progress will be made. I more interested in promoting bitcoin to regular people who aren't into IT or anything like that, getting that audience to accept bitcoin would be a huge leap.
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May 08, 2017, 02:58:16 PM
 #28

I believe within the next ten years, if we don't have any major world wars, we might see Bitcoin adoption being taken to the next level. Now it is getting more and more popular as a store of wealth as more financial institutions and governments look to the blockchain for problem solving, transparency and further wealth creation. I have noticed that most of my friends on Facebook now all know or are using Bitcoin as opposed to five years ago when only few of us were talking about it.
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May 08, 2017, 03:06:37 PM
 #29

year by year the Growth of cryptocurrency always increase i think this is prove that many people has starting to interested to learn and know more for cryptocurrency world and if next there is other country also admit bitcoin i think to reach massively adopted for next 5 years it would be so possible
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May 08, 2017, 04:28:49 PM
 #30

We do not know when bitcoin will be adopted on a large scale, it will depend on the situation. But now bitcoin has begun to be adopted little by little, I'm sure gradually definitely bitcoin will be known and used all over the world. Moreover, from now on many governments are getting interested and legalize bitcoin. If you say 5 years from now bitcoin become famous, maybe yes. And it may not need to wait 5 years. Bitcoin prices are now also higher and more valuable, it will make investors begin to be interested in bitcoin. And little by little bitcoin will start to be adopted, it will still need a process. The most important thing now is not to make bitcoin legal, but make bitcoin worth it. If bitcoin worth it, people will use it and the government will legalize it because it is profitable.
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May 08, 2017, 09:26:47 PM
 #31

At that juncture, I or we do not know when bitcoin will be adopted by many, it will depend on the situation. But for my standpoint, Bitcoin or cryptocurrency now has begun to be adopted little by little. As I always uttered, cryptocurrency is accelerating! If you say 5 years from now bitcoin become famous, maybe yes. Nobody knows and no one can predict but maybe, maybe. The most important thing right now is not to make bitcoin legal, but to make bitcoin worth it and don't take advantage of it's used.
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May 08, 2017, 10:49:35 PM
 #32

I believe it will take another decade before Bitcoin will be massively adopted by every country in the world.  there are still lots of improvement needed for Bitcoin to be acknowledge by many country, one of which is the possibility of centralization, which is kinda happening right now.  With all the implementation and debates about scaling, it seems bitcoin is moving forward to semi centralization since if any of the suggestion is implemented, bitcoin will step into the centralization area since both camp are throwing allegation about each one having a centralization scheme in their pocket.

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May 09, 2017, 12:35:11 AM
 #33

I believe it will take another decade before Bitcoin will be massively adopted by every country in the world.  there are still lots of improvement needed for Bitcoin to be acknowledge by many country, one of which is the possibility of centralization, which is kinda happening right now.  With all the implementation and debates about scaling, it seems bitcoin is moving forward to semi centralization since if any of the suggestion is implemented, bitcoin will step into the centralization area since both camp are throwing allegation about each one having a centralization scheme in their pocket.

On top of that, bitcoin has to address its inherent security issues. there have been multiple high profile incidents in the past that has undermined bitcoins credibility in the eyes of commonfolk. Its going to take a while before crytocurrency is used as common currency.
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May 09, 2017, 02:08:14 AM
 #34

Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?

Well if the most country will making legal in all of the country so thats the time they will adopt the crypto currency. But before that they should know the bitcoin first because without it they can know about crypto currency. I think 10 years from now? because not all of the country know bitcoin already so it really takes a time
I also think that bitcoin will be used by everyone or massively adopted after 10 years because as what you said, bitcoin is getting warmed up this year and its collecting some proofs for the next year so it can be easily promoted next year to different people and countries so they can adopt bitcoin as early as possible. Bitcoin is very easy to spread but it will take a long time for that.
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May 09, 2017, 02:21:04 AM
 #35

Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?

Well if the most country will making legal in all of the country so thats the time they will adopt the crypto currency. But before that they should know the bitcoin first because without it they can know about crypto currency. I think 10 years from now? because not all of the country know bitcoin already so it really takes a time
I also think that bitcoin will be used by everyone or massively adopted after 10 years because as what you said, bitcoin is getting warmed up this year and its collecting some proofs for the next year so it can be easily promoted next year to different people and countries so they can adopt bitcoin as early as possible. Bitcoin is very easy to spread but it will take a long time for that.
I think once after the early adoption there won't be much users coming into it. Because when years pass the price and the value increases. This causes an affordability issue with the public who live with some job. So only the upper segment people with good backing show interest as a single coin carries a big amount of fiat.
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May 09, 2017, 04:07:37 PM
 #36

Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?

Chinese are mostly interested in trading only.
and these things don't exactly have a time, it is adoption, so it takes time first, and by that period of time everything is slow, then suddenly things will speed up. it can take years to reach that stage but when it is reached you see in a couple of months that bitcoin and then cryptocurrencies are massively used.

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May 09, 2017, 04:11:24 PM
 #37

We do not know when bitcoin will be adopted on a large scale, it will depend on the situation. But now bitcoin has begun to be adopted little by little, I'm sure gradually definitely bitcoin will be known and used all over the world. Moreover, from now on many governments are getting interested and legalize bitcoin. If you say 5 years from now bitcoin become famous, maybe yes. And it may not need to wait 5 years. Bitcoin prices are now also higher and more valuable, it will make investors begin to be interested in bitcoin. And little by little bitcoin will start to be adopted, it will still need a process. The most important thing now is not to make bitcoin legal, but make bitcoin worth it. If bitcoin worth it, people will use it and the government will legalize it because it is profitable.

I think that within a few years bitcoin will be accepted in all countries as an additional e-currency and possibly then it will be necessary to deduct a percentage of profits to the state.
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May 09, 2017, 04:52:19 PM
 #38

I think that within a few years bitcoin will be accepted in all countries as an additional e-currency and possibly then it will be necessary to deduct a percentage of profits to the state.
Let us not advocate the state and ask them to take a cut in what we do,the state is earning more profit by imposing tax on each and everything we use and they should not start taking tax for the things we do virtually. For crypto to be massively adopted it will take a really long time as this is still a new method of transaction people might take a long time to start accepting anything new.

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May 09, 2017, 05:22:10 PM
 #39

One issue is the high price of BTC as this will mean that with mass adoption people are using such small fractions of a coin - this is neither convenient nor easy work with/calculate, and life is all about ease and convenience now and would stand against mass appeal.  A BTC little brother would possibly have a greater chance.

Having said that, credit cards are widely used and adopted and BTC could be used by the masses through that kind of channel.  But, again the high price and it's stability work against this happening IMO.
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May 09, 2017, 06:54:08 PM
 #40

Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?
I guess it is already well known and that is the reason the adoption process is taking place. But I agree in next 5 years, we may experiences the rapid growth of bitcoin adoptions as governments probably will clear the stand on legality of bitcoins.
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