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Author Topic: When Can Bitcoin Be Mainstream?  (Read 1185 times)
Hypnosis00
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October 30, 2017, 07:00:54 AM
 #21

Bitcoin can be mainstream if the all of the governments in all the countries will make it legal because bitcoin is always ready for being mainstream and it is jut waiting the government to make it as an official currency and after that those people who are hesitating for accepting bitcoin will not be bother by the government anymore because the government will make it as a legal currency.


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October 30, 2017, 09:28:54 AM
 #22



We have heard the term 'mainstream' every now and then in connection with Bitcoin and cryptocurrency for that matter. It has been a very good topic in this forum and even in social media. Apparently, Bitcoin has not yet been considered to have passed the mainstream status all because only a certain percentage of the population have heard about it and got into it...even with the continuing coverage of the mainstream media and some famous personalities also getting into Bitcoin and even endorsing its adoption.

Now, am wondering, when can we say that Bitcoin is already part of the mainstream? Should we require a billion people to be holders of the coin? Or maybe the value of Bitcoin to have surpassed that of Facebook or Google? Or would it be the whole of your neighborhood already have some Bitcoin in their wallet app?

Please share the kind of scenario you think must happen before we can say that Bitcoin is now part and parcel of the mainstream population...

Bitcoin can't become a main stream currency because it is not structurally built that way. Bitcoin is a De-centralized currency system while the government's currencies are strongly centralized and regulated. Any government wouldn't want any De-centralized currency to be mixed in their economy. Banks have already started seeing bitcoin as a threat to their business so even if a government want to accept bitcoin, banks will not let it happen very easily. So the situation is complex and I don't see bitcoin becoming a main stream currency in at least next 10 years.

   
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October 30, 2017, 09:41:03 AM
 #23

Bitcoin can't become a main stream currency because it is not structurally built that way. Bitcoin is a De-centralized currency system while the government's currencies are strongly centralized and regulated. Any government wouldn't want any De-centralized currency to be mixed in their economy. Banks have already started seeing bitcoin as a threat to their business so even if a government want to accept bitcoin, banks will not let it happen very easily. So the situation is complex and I don't see bitcoin becoming a main stream currency in at least next 10 years.

I beg to differ whenever it will become a mainstream currency we will have to wait and see but it definitely has the potential too and is built to be used by the masses.  It's not what the government wants, it's what the people want. For it to become mainstream all it has the to do is become used by the general public. When this does happen many companies will want to trade in Bitcoins due to it being used by the people.

I'm not saying it's going to become mainstream either, we are a long way off that at the moment. It's plausible though for a cryptocurrency to become mainstream, even if that's not Bitcoin.

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October 30, 2017, 09:43:24 AM
 #24

Tremendous growth had been seen in the price of Bitcoin which is somehow making it mainstream.One of the way by which it can pass mainstream status is when the government will accept it as the world currency.The other way can be the demand factor.More the demand will increase more easily it will pass the mainstream status

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October 31, 2017, 01:58:04 AM
 #25

Tremendous growth had been seen in the price of Bitcoin which is somehow making it mainstream.One of the way by which it can pass mainstream status is when the government will accept it as the world currency.The other way can be the demand factor.More the demand will increase more easily it will pass the mainstream status
Yes acceptance of the government will make it mainstream. However it will take more time for them to accept bitcoin. I think it's because bitcoin for now don't have a use for them.

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October 31, 2017, 02:34:58 AM
 #26



We have heard the term 'mainstream' every now and then in connection with Bitcoin and cryptocurrency for that matter. It has been a very good topic in this forum and even in social media. Apparently, Bitcoin has not yet been considered to have passed the mainstream status all because only a certain percentage of the population have heard about it and got into it...even with the continuing coverage of the mainstream media and some famous personalities also getting into Bitcoin and even endorsing its adoption.

Now, am wondering, when can we say that Bitcoin is already part of the mainstream? Should we require a billion people to be holders of the coin? Or maybe the value of Bitcoin to have surpassed that of Facebook or Google? Or would it be the whole of your neighborhood already have some Bitcoin in their wallet app?

Please share the kind of scenario you think must happen before we can say that Bitcoin is now part and parcel of the mainstream population...

Bitcoin can't become a main stream currency because it is not structurally built that way. Bitcoin is a De-centralized currency system while the government's currencies are strongly centralized and regulated. Any government wouldn't want any De-centralized currency to be mixed in their economy. Banks have already started seeing bitcoin as a threat to their business so even if a government want to accept bitcoin, banks will not let it happen very easily. So the situation is complex and I don't see bitcoin becoming a main stream currency in at least next 10 years.
I'm afraid to tell you that Bitcoin has become mainstream a while ago. Mainstream doesn't mean that a cryptocurrency has to be approved by a government or a central bank, mainstream means that something is already known and used by the public. There are bitcoin users in pretty much every corner of the planet, some countries have already banned BTC, and some others are ready to move deeper into the world of cryptocurrencies, this is happening because Bitcoin is already popular thanks to mass media, internet, tv, etc.
What you say about the banks is true, the Central bank in many countries have finally realized that bitcoin can become real threat once it gets implemented as a payment method instead of fiat, some people will start abandoning banks 'cause they don't want keep paying taxes, but they know it can have a Snowball effect in the long term depending on how the reception of bitcoin is going to be.
I digress, but if we talk about bitcoin going mainstream means that more people, and more companies (multinationals and big corporations) need to accept Bitcoin worldwide, and goverments and banks need to regulate it so that the public can buy/sell btc legally, then yes, we are far away from that. But to me, Bitcoin is already mainstream.
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October 31, 2017, 02:41:42 AM
 #27



We have heard the term 'mainstream' every now and then in connection with Bitcoin and cryptocurrency for that matter. It has been a very good topic in this forum and even in social media. Apparently, Bitcoin has not yet been considered to have passed the mainstream status all because only a certain percentage of the population have heard about it and got into it...even with the continuing coverage of the mainstream media and some famous personalities also getting into Bitcoin and even endorsing its adoption.

Now, am wondering, when can we say that Bitcoin is already part of the mainstream? Should we require a billion people to be holders of the coin? Or maybe the value of Bitcoin to have surpassed that of Facebook or Google? Or would it be the whole of your neighborhood already have some Bitcoin in their wallet app?

Please share the kind of scenario you think must happen before we can say that Bitcoin is now part and parcel of the mainstream population...

You can measure how "mainstream" bitcoin is by asking your neighbor if they have bitcoins. If they answered with a yes, then bitcoins are now mainstream; if no, bitcoins are becoming mainstream; if they asked you what bitcoins are, then bitcoins haven't reached mainstream status yet. You can also see how mainstream bitcoins are if your local stores have 90% bitcoin compatible registers that accept bitcoins as payment.

You can also tell how mainstream bitcoins are if the wet market accepts bitcoins as payment for food.

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October 31, 2017, 03:00:53 AM
 #28

I think Bitcoin will become mainstream if all the countries around the world will legalize the use of Bitcoin. Another thing that will make Bitcoin mainstream is, if there will be a large number of advertisement in social medias. The last thing I think of is, if all stores or companies will accept Bitcoin as a payment.

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October 31, 2017, 03:05:23 AM
 #29

Its pretty clear that you are still new in this industry. If you wre one of the pioneers that you can surely say roght now that bitcoin is on its peak(the current peak is really the highest one every happened in the history)
In terms of ppopulation yes we are in good numbers already if you compare it from the previous years. We've grown twice or thrice or maybe 4x ,

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October 31, 2017, 03:49:45 AM
 #30

in my country do not have a wallet, bitcoin is still a lot that do not know, here are still some cities that can use bitcoin transkasi. maybe bitcoin still not worldwide because there are still some people or countries that have not legitized bitcoin.


 
 
 
 
 
 
 
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October 31, 2017, 04:48:29 AM
 #31

The Bitcoin currency is more secure and useful ("programmable") than any fiat currency. Therefore, Bitcoin can be used as an effective store of value, as an alternative to fiat currency and gold... though currently an extremely volatile one. If Bitcoin is still running smoothly in 10+ years and the world loses confidence in the US dollar (due to massive monetary inflation, etc.), it seems plausible to me that Bitcoin could even become the reserve currency of the world.  Smiley Smiley Smiley
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October 31, 2017, 05:15:29 AM
 #32

If you want bitcoin to be in the mainstream it will definitely need lots of publicity and popularity from a whole lot of users. Endorsements from well known people or groups and companies will definitely help bitcoin increase its status.
that's right, I agree with your opinion that if bitcoin wants to be in the mainstream then we as bitcoin users should support and spread bitcoin on so many more people so bitcoin can increase its set.
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October 31, 2017, 05:34:31 AM
 #33

it can be mainstream and it will be popular by the help of endorsement.
endorsement by well known celebrities and  businessmans, so that, the viewers or fans will be having an idea what bitcoin is all about, and what is the importance of it. and also, we as a bitcoins users, we must help to spread facts informations about bitcoin and we should support it and spread it into other people..
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October 31, 2017, 05:37:20 AM
 #34


I think when the kids that born now, being raised on tablets, cellphones etc. when they take over the industrial trends and politics they will accept Bitcoin and by default make it a  mainstream entity.

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October 31, 2017, 05:38:00 AM
 #35

Adoption will surely increase as more and more people use bitcoin over time,however if by mainstream you mean the dominant currency I doubt this will ever happen. It's shortcomings means that it can be used only in certain circumstances which are limited.

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October 31, 2017, 05:43:32 AM
 #36

There are pros and cons when we want bitcoin to be on mainstream.
Legality from government that will result in regulation and taxation.
Acceptance from business sectors, more competitors less price and more option to choose from but with value added tax for sure.
Media support that is not yet happening because of money and greed from that industry. They’re one of the corrupted person in the world and if bitcoin will not pay them then they will ignore it.

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October 31, 2017, 05:45:01 AM
 #37

For bitcoin to be mainstream,it has nothing to do with increase in its price.It should have to be adopted by large number of people widely all over the world and retailers have to accept it all over the world.

For that to happen,governments should either legalize bitcoin or atleast not ban it for mass adoption.But the high volatile nature of its price is the biggest issue for it to be legalized.

It would take years for bitcoin to go in to mainstream.

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October 31, 2017, 05:51:33 AM
 #38

Bitcoins can be mainstream once big internet countries start adopting it. Once they do, countries where these companies are based will begin taxing them and regulations will be established. These regulations will either encourage or discourage the regular people from using it. But either way these regulations have the potential to make Bitcoins more popular because of the media attention it's going to get. More people will read on bitcoins and they'll think it's amazing just like the rest of us. When regular people start adopting it maybe everyday stores will start accepting them and then maybe even banks would consider using them.

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October 31, 2017, 06:16:07 AM
 #39



We have heard the term 'mainstream' every now and then in connection with Bitcoin and cryptocurrency for that matter. It has been a very good topic in this forum and even in social media. Apparently, Bitcoin has not yet been considered to have passed the mainstream status all because only a certain percentage of the population have heard about it and got into it...even with the continuing coverage of the mainstream media and some famous personalities also getting into Bitcoin and even endorsing its adoption.

Now, am wondering, when can we say that Bitcoin is already part of the mainstream? Should we require a billion people to be holders of the coin? Or maybe the value of Bitcoin to have surpassed that of Facebook or Google? Or would it be the whole of your neighborhood already have some Bitcoin in their wallet app?

Please share the kind of scenario you think must happen before we can say that Bitcoin is now part and parcel of the mainstream population...
So first of all lets know what the mainstream is. Based on my research mainstream is being trend or in other words is being accepted by all people. So now we know the meaning of mainstream so if you connect the bitcoin in the part of mainstream i think this is not fully accepted because we know some country still not legal and banned it.no one can say or predict about the flow of bitcoin in the industy so lets just go with the flow.
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October 31, 2017, 06:47:39 AM
 #40

it is always tough to speculate about things that need adoption because that process alone may take a long time or a short time based on different factors. for example so far until this year the adoption was always a slow process with small growth each day but when Japan adopted bitcoin it suddenly grew a lot and that was a big step towards mass adoption and going mainstream.

we can't really tell when or what mainstream is going to be like. but we can say that we are on the way. we can see it happening already with new businesses shaping up, or old ones integrating bitcoin in their systems.

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