Is Bitcoin ever be Mainstream?

[hndrk10]

Will we ever use Bitcoin for day by day use? Buy a bread, a phone, a car, an appartment? Or Bitcoin will more likely be a way of just storing value and we have to rely on altcoins to use them daily?

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[Sundark]

I think bitcoin is kinda asset, not currency cuz it's not supported in stores yet and is not that simple to use for regular people. It's mainstream cuz it costs a lot.

[Drunkenhorse]

As an alternative to money yes, as the only currency, don't think so. I even think that Steemit has more chances than Bitcoin.

[Rludd]

They are already mainstream - hence banks trying to exploit their value.

I'm not particularly enthused by bank-issued novel cryptocurrencies, though.

The entire idea is to not rely on a central issuing agency.

[baradfo]

Bitcoin and other coins are being used in stores worldwide. I don't know where you're getting your information, but you should be more aware. There are even major companies, i.e. Paypal, Overstock, Newegg, that accept Bitcoin and even some alts depending on the store. Education and awareness are key. Try looking into www.cryptofunds.online to see more information.

[Bamel]

As an alternative to money yes, as the only currency, don't think so. I even think that Steemit has more chances than Bitcoin.

Bitcoins main problem is that it's not centrally controlled. Currently each transaction on the blockchain uses kWh, equivalent to, on average, 2-3 days of electricity in a UK house.

It's not scalable and it's grossly inefficient because of it.

[Amial]

As an alternative to money yes, as the only currency, don't think so. I even think that Steemit has more chances than Bitcoin.

Bitcoins main problem is that it's not centrally controlled. Currently each transaction on the blockchain uses kWh, equivalent to, on average, 2-3 days of electricity in a UK house.

It's not scalable and it's grossly inefficient because of it.

You don't understand. Not being centralised is the whole point. As for energy waste, do you realise how many computers and buildings full of people are working right now to process that sandwich transaction you made at lunchtime?

[secondgarlic]

In terms of popularity, I would say that bitcoin is already mainstream. However, if you are referring to being a daily payment method, I think that won't happen, due to the significantly high price of a coin, long transaction times and high transaction fees.

[Kesecer]

They are already mainstream - hence banks trying to exploit their value.

I'm not particularly enthused by bank-issued novel cryptocurrencies, though.

The entire idea is to not rely on a central issuing agency.

Crypto currency will be the cause of the next great economic crash

[Usine]

They are already mainstream - hence banks trying to exploit their value.

I'm not particularly enthused by bank-issued novel cryptocurrencies, though.

The entire idea is to not rely on a central issuing agency.

Crypto currency will be the cause of the next great economic crash

Not the next one, that will be caused by an asset bubble, and is imminent, but maybe the one after that.

[Bamel]

As an alternative to money yes, as the only currency, don't think so. I even think that Steemit has more chances than Bitcoin.

Bitcoins main problem is that it's not centrally controlled. Currently each transaction on the blockchain uses kWh, equivalent to, on average, 2-3 days of electricity in a UK house.

It's not scalable and it's grossly inefficient because of it.

You don't understand. Not being centralised is the whole point. As for energy waste, do you realise how many computers and buildings full of people are working right now to process that sandwich transaction you made at lunchtime?

Not being centralised leads to gross ineffeciency in the name of "security" which turns out to be a false promise to begin with because bitcoin is so difficult and impractical to use in reality that every single transaction system involves using a third party application run from a centralized location which has far, far less security than the underlying protocol, rendering the entire thing pointless to begin with.

[Sweeet123]

Well if you are talking about bitcoins being a media mainstream, then yes it has become mainstream in terms of so much discussion being going around in the media and people becoming more and more aware about it,but if you are talking about its usage becoming mainstream, then it is gonna take some time, people are still relying on paper currency, since it is an age old system and therefore trustworthy, for bitcoins to become mainstream in usage its gonna take a lot of time

[Renr]

As an alternative to money yes, as the only currency, don't think so. I even think that Steemit has more chances than Bitcoin.

Bitcoins main problem is that it's not centrally controlled. Currently each transaction on the blockchain uses kWh, equivalent to, on average, 2-3 days of electricity in a UK house.

It's not scalable and it's grossly inefficient because of it.

You don't understand. Not being centralised is the whole point. As for energy waste, do you realise how many computers and buildings full of people are working right now to process that sandwich transaction you made at lunchtime?

Not being centralised leads to gross ineffeciency in the name of "security" which turns out to be a false promise to begin with because bitcoin is so difficult and impractical to use in reality that every single transaction system involves using a third party application run from a centralized location which has far, far less security than the underlying protocol, rendering the entire thing pointless to begin with.

Well perhaps if traditional financial systems weren't so corrupt, people wouldn't feel a need to diversify to something not controlled by the 1%.

[Stianyd]

Well, they are easier to carry around than cowry shells.

[Giric]

The current volatility in the market makes it very dangerous for unassuming investors.

"Ethereum... which had seen its value rise fiftyfold since the start of the year to $300 a coin"

ETH (Ethereum) dropped to nearly 200 dollars per coin from a high of nearly 400 dollars, went up again to 250 and is now around 270 on my exchange. This is in a space of a week.

The speculation is based upon future projections of use but the block chain technology of four years ago, or more, such as BTC or ETH has become dated. Updating it is cumbersome. So, it would be easier to start new currencies for new projects, especially if there are easy to use exchanges to exchange the currencies. The market share of BTC has already been dropping considerably.

I would recommend that no one makes any medium to long term investments in the classic cryptocurrencies, perhaps small amounts on new start ups if one researches the technology and foresee it being scalable.

[Aneelal]

There is no evidence of a causal relationship between the dip in Ethereum's market cap and the hoax that Vitalik had been killed. The entire cryptocurrency market lost around tens of billions of dollars at that time - it was a market wide crash.

You should really alter this piece. You're promoting a false narrative that has no bearing on reality.

[Immakillya]

Will we ever use Bitcoin for day by day use? Buy a bread, a phone, a car, an appartment? Or Bitcoin will more likely be a way of just storing value and we have to rely on altcoins to use them daily?

Im afraid not. We cant use Bitcoin to buy our simple needs because mainstream adoption is just getting started. Bitcoin is more like a commodity than a currency. Also there are things that should be fix before it becomes a real currency. The scalability and the issue of legality. These two are slowing down the adoption to make Bitcoin at the mainstream. Bitcoin transaction is now costing you about $25 for every transaction. That hurts. The scalability of Bitcoin is the main problem of Bitcoin that should be fixed soon. It's not funny anymore. Who would want to pay more on the fee than the fund you are going to send? I hope LN implement soon.

[Renr]

Money has been practically the same for hundreds of years, controlled at a centralized source, etc.

Money is now entering an new era, acquiring new dimensions, becoming decentralized, and becoming smart

It will take a while for people to get used to this, but they will....

[Usine]

Money has been practically the same for hundreds of years, controlled at a centralized source, etc.

Money is now entering an new era, acquiring new dimensions, becoming decentralized, and becoming smart

It will take a while for people to get used to this, but they will....

The criminals have got used to it very quickly indeed. That's what happens when you have no centralised control.

[Kesecer]

Money has been practically the same for hundreds of years, controlled at a centralized source, etc.

Money is now entering an new era, acquiring new dimensions, becoming decentralized, and becoming smart

It will take a while for people to get used to this, but they will....

The criminals have got used to it very quickly indeed. That's what happens when you have no centralised control.

You're referring to (private) bankers, right?