What stage of adoption is Crypto currently at?

[rickadone]

...
LN tackles all above annoyances that people 'suffer' from in today's market, and will stimulate people to transact with each other far more than we can imagine right now. In other words, LN is a major adotion booster, that's a fact. Regarding using it as payment to purchase goods and whatnot, I more or less agree that it won't change very much in that aspect. It has partly to do with the volatility, but the main point is that people don't want to spend something that can jump up significantly in value the next day. That's something we have been dealing with for years now.

Couldn´t it be a good thing if people are reluctant to spend Bitcoins, because they are worth
more in the future? Several economists argue that assets like Bitcoin actually change people´s time
preferences from a high-time preference to a short-time preference. With a short-time preference
people actually think more of the long-term and increase their savings.

One could argue that this would be beneficial for the individual, because having savings protects from
sudden loss of income and also beneficial for society, because it would decrease the ubiquitous overconsumption.

There cannot be over-consumption. First, you should understand one thing that bitcoin is limited in supply. Secondly, real life usage will issue in more demand for the currency as people only do not see it only as an asset or speculative one, but something that is always going to be needed and used without having to convert to fiat and transaction between anyone anywhere in the world is going to always happen with the speed of light.

Adoption would have been a little bit of years back, but for now we are a little bit past that but not very far from it. So far, we are already growing, so I will assume that is the stage we are. With the number of altcoins popping up every day and the number that is already on ground doing well, we have gotten past the adoption stage generally for cryptocurrency or just a little bit between the adoption and growth stage.

[1713926132]

1713926132

[tee-rex]

...
LN tackles all above annoyances that people 'suffer' from in today's market, and will stimulate people to transact with each other far more than we can imagine right now. In other words, LN is a major adotion booster, that's a fact. Regarding using it as payment to purchase goods and whatnot, I more or less agree that it won't change very much in that aspect. It has partly to do with the volatility, but the main point is that people don't want to spend something that can jump up significantly in value the next day. That's something we have been dealing with for years now.

Couldn´t it be a good thing if people are reluctant to spend Bitcoins, because they are worth
more in the future? Several economists argue that assets like Bitcoin actually change people´s time
preferences from a high-time preference to a short-time preference. With a short-time preference
people actually think more of the long-term and increase their savings.

One could argue that this would be beneficial for the individual, because having savings protects from
sudden loss of income and also beneficial for society, because it would decrease the ubiquitous overconsumption.

There cannot be over-consumption. First, you should understand one thing that bitcoin is limited in supply. Secondly, real life usage will issue in more demand for the currency as people only do not see it only as an asset or speculative one, but something that is always going to be needed and used without having to convert to fiat and transaction between anyone anywhere in the world is going to always happen with the speed of light.

These two things, Bitcoin as a speculative asset and as a currency, seem mutually exclusive to me. To say it differently, unbridled speculation prevents Bitcoin from being used as a fully developed currency due to high volatility. But, on the other hand, if Bitcoin was stable as rock and ready to be used as a means of payment, it would be no more interesting to speculators, which strive for volatility.

[Fenty]

I can only say that we are in the middle; we are either at the early stage and we are not also at the ending stage. Since the evolution of bitcoin, we should have been in the ending stage with a stable price but unfortunately, the market manipulation by some whale investors and the banning of bitcoin in some countries is what might have pulled us back but not to worry, we will get there.

No it is not the reason for price that is getting down main reason for bitcoin price to get down is because we don’t know that how much we will have to invest and how much we will have to save, I mean to say people are not educated with bitcoin  so they need to know the time to selling and time of getting bitcoin so it will increase the interest in bitcoin then more people will buy bitcoin and hold to to have best return from it, for me it is right time because after that we will get at the high price so it is middle time so invest now.

[gxmonitor]

I feel upcoming G20 meeting will leave huge impact on crypto adaptation in society. Cryptos are here to stay, so do invest wisely.

[LuffyD.Monkey]

I consider our community is slightly accepted by majority but doesn’t mean by the higher ups only those ordinary citizens around the globe. It’s already be a good standing even without the total support by the government, we’re good enough to call our situation successful. But we need more than that, were aiming for something bigger than us.

I will call it as in the early stage of its adoption as most of the people have started investing in crypto market whole the others are getting to know with every passing day. This crypto market has a way to go and that it will keep on flourishing in the coming years as well and a time will come when all the governments will also consider them as their basic need in order to make the economy strong.

[Isaacck1]

Just wanted to know where you guys think we are. Are we still in the early adoption stage?

At what stage of the dot com era would you put us at? Dial up lol?

In my opinion, cryptocurrency is still in the very early adoption stage considering all of the population have little to many experiences to technology. It might be a little hard for people to adopt cryptocurrency since acceptance to change is quite hard to be achieved. Bitvoin might taken a step forward since its one hit wonder stage last year.

[Sengoko]

Just wanted to know where you guys think we are. Are we still in the early adoption stage?

In my opinion i think bitcoin is now at an early adoption stage for institutional investors as individuals we have already adopted this technology is waiting for prices to soar and possibly make some money from it.

Though it has not been a very long time this world has get to know about crypto currencies but the good thing is that in this much short period of time, crypto currencies have actually made a very good name in the international market and is achieving the success at higher rate with every passing day. The way people have started believing in crypto currencies give us a hope that it has successfully cleared the era of early stage of adoption.

[betlord90]

Just wanted to know where you guys think we are. Are we still in the early adoption stage?

At what stage of the dot com era would you put us at? Dial up lol?

In my opinion, cryptocurrency is still in the very early adoption stage considering all of the population have little to many experiences to technology. It might be a little hard for people to adopt cryptocurrency since acceptance to change is quite hard to be achieved. Bitvoin might taken a step forward since its one hit wonder stage last year.

Indeed we are on early stage and the peak is not coming yet to us since many people doesn't really find crypto as good ways to earn money from them and many people found this as totally scam, But if there's big merchants or any huge fundings comes and backed up with governments law I think we can see the good result of the bitcoins economic story.

[goldexp83]

we are still at very early stage, I read some research from top crypto analyst (you can find these on coindesk) and basically he was saying that it will take about 9 years from now to have half of the world adoption!

[lenovo16]

Just wanted to know where you guys think we are. Are we still in the early adoption stage?

At what stage of the dot com era would you put us at? Dial up lol?

In my own opinion , I think we are still in the early adaptation. Because as you take a look to the percentage of the number of people who know how the cryptocurrency works. Its never been reach the half population of the world. So it means still a lot of people who have no idea that there is a new born currency. And still money country are still not let bitcoin be legalize.

[redsun114]

Supermine said it right. We are in the early days of cryptocurrencies as a whole. Try going out of your house and see if you can find a BTC accepting store near you. You found none? Of course you did. Thats because theres less than 5% of the world's population use or own cryptocurrencies.

True, the fact there is a lot of money invested in bitcoin and alts does not meant that we have reached any kind of big adoption, I have yet to see a single store in my country accepting bitcoin and if I saw it I will buy whatever they are selling just to support them, I still think we are below 1% when it comes to adoption, so this should be very telling because once we reach 5% or 10% I think we are going to see a chain reaction in which most stores will begin to accept bitcoin.

On a large scale we are not even close. However, I still want to believe we are going to be getting past the adoption phase pretty soon. Is it not becoming obvious ?

First, some investors are still scared and looking to see if it is right to get in or not, some have taken the bold step, institutions gradually are stepping, the LN will increase the speed of transactions and make bitcoin even more usable, once we hit those stage, we are going to even be getting past the growth phase, so for now, I will say we are just there in between the adoption and growth phase.

I hope you are right, while I have not being holding my small amount of bitcoin for as long as many people in the forum I cannot wait any longer I want to see bitcoin making a great and visible progress, while having a high price is nice I still do not see bitcoin being accepted anywhere, people in my country despite the high prices show no interest in bitcoin so it is painfully slow the progress bitcoin is making every day.

I think of legalization of the bitcoin to be the best thing and this will help in bringing more name to bitcoin and other than this, this legalization of bitcoin will also help you in making things easier for you. Bitcoin is at its early stages of their adoption but the thing is it is gaining more and more reputation and the fame of bitcoin is continuously increasing, thus helping them in having more money.

[Synash0619]

Just wanted to know where you guys think we are. Are we still in the early adoption stage?

At what stage of the dot com era would you put us at? Dial up lol?

I think Crypto is in the boundary of early adoption and growth stage. Within this period a lot of development happens introduction of ICO's, regulation, and recognition from government agency. If the development stage continue at this pace crypto will double the market cap size at the end of the year.

[just_Alice]

Just wanted to know where you guys think we are. Are we still in the early adoption stage?

At what stage of the dot com era would you put us at? Dial up lol?

I think we are just in the middle of the adoptoin process. A couple of years ago when BTC was less than $1000 that was an initial stage, now that the govs are considering the cryptocurrencies question, some are banning, some are implementing taxes. Whenever Bitcoin will be legalized and everyone will be able to purchase stuff with cryptos then we can count it as an adoption stage.

[BaraxLo]

When bitcoin almost hit 20K(happend about 2 months ago) it made a big media FUD about bitcoin, you could see an article about bitcoin at most of the news/media sites, so it's pretty clear that there is a largr perecent of people who knows about bitcoin.
At the same time, exchanges are closing doors due to being flooded with users, so it's pretty hard to say that we entered mass adoption, but I do believe that there are a lot of people that are just waiting to buy bitcoins but they can't do that because of the state of the exchanges.

And all the scenario you have painted out simply means we are hitting the growth stage. Early adoption to me stopped like in the middle of last year and then we started having a lot of FOMOs most especially for bitcoin. In the crypto space at large, on average, we can say we are still in the adoption phase, but for some of the coins that have been around like bitcoin and the rest, we are pretty much getting to the growth stage and that is even if we are not there already.

[sajeebur rahaman]

I'm a technical analyst, I have been doing technical analysis after 10 years, From my experience, we can say that we are still in stage 2. Bitcoin's Cycle is so big, We can do the worry-free trade. trend and movements in the market will see the trade.....

[wandino]

Just wanted to know where you guys think we are. Are we still in the early adoption stage?

At what stage of the dot com era would you put us at? Dial up lol?

I believe the early adoption stage has passed. As this isn't completely mainstream yet, it could could be a late adoption stage

[shalnark]

In my opinion maybe we are no longer in the early stages, of course now maybe we are in the middle stage because already many people know and use bitcoin, and at this stage may be the stage of growth and development of bitcoin still exist the opportunity to join and invest but the results in the cannot be as big as in the previous stage.

[lenovo16]

Supermine said it right. We are in the early days of cryptocurrencies as a whole. Try going out of your house and see if you can find a BTC accepting store near you. You found none? Of course you did. Thats because theres less than 5% of the world's population use or own cryptocurrencies.

True, the fact there is a lot of money invested in bitcoin and alts does not meant that we have reached any kind of big adoption, I have yet to see a single store in my country accepting bitcoin and if I saw it I will buy whatever they are selling just to support them, I still think we are below 1% when it comes to adoption, so this should be very telling because once we reach 5% or 10% I think we are going to see a chain reaction in which most stores will begin to accept bitcoin.

On a large scale we are not even close. However, I still want to believe we are going to be getting past the adoption phase pretty soon. Is it not becoming obvious ?

First, some investors are still scared and looking to see if it is right to get in or not, some have taken the bold step, institutions gradually are stepping, the LN will increase the speed of transactions and make bitcoin even more usable, once we hit those stage, we are going to even be getting past the growth phase, so for now, I will say we are just there in between the adoption and growth phase.

I hope you are right, while I have not being holding my small amount of bitcoin for as long as many people in the forum I cannot wait any longer I want to see bitcoin making a great and visible progress, while having a high price is nice I still do not see bitcoin being accepted anywhere, people in my country despite the high prices show no interest in bitcoin so it is painfully slow the progress bitcoin is making every day.

I think of legalization of the bitcoin to be the best thing and this will help in bringing more name to bitcoin and other than this, this legalization of bitcoin will also help you in making things easier for you. Bitcoin is at its early stages of their adoption but the thing is it is gaining more and more reputation and the fame of bitcoin is continuously increasing, thus helping them in having more money.

Yes I agree. If only some come will let bitcoin come in to their economy in the legal means. Im sure it will bring great help to one's economy. Because many people get interested and then later on they will also encourage to invest. That how huge the impact of legalization of trend currency in one's economy.

[NeverSop]

We are in early stage,not many know what is blockchain or crypto they only heard about bitcoin as it was used in many negative scene and recent price spike cause a attention to it.it will take time for everyone to know it and take an interest in it ,as startup and mnc are adopting blockchain crypto name will spread and we will get a good user base.but for current user it is more than rare gold as after 25 year crypto will be on a different level and we will be early adopters.

Proper use bitcoin is must because this thing will increase the price and the profit, you are right that price of bitcoin is low and it is all because people are panicking bitcoin, which is not good for the internal market growth of bitcoin. If we will spread the news of bitcoin among all people then it will increase the number of investors and with the number of investors price will increase automatically. It is now stage when people should buy and promote bitcoin because it is not so high right now.

I agree with you. I think that after too much volatility in the market, investors should understand that the bad news with the cryptocurrency market is only to bring down the market value so low that speculators can buy crypto at very low prices. I think investors should be more calm in times of market downturn, do not constantly make themselves into prey for whales.

[tee-rex]

Just wanted to know where you guys think we are. Are we still in the early adoption stage?

At what stage of the dot com era would you put us at? Dial up lol?

I think we are just in the middle of the adoptoin process. A couple of years ago when BTC was less than $1000 that was an initial stage, now that the govs are considering the cryptocurrencies question, some are banning, some are implementing taxes. Whenever Bitcoin will be legalized and everyone will be able to purchase stuff with cryptos then we can count it as an adoption stage.

In the crypto world, these adoption phases don't seem very meaningful to me. So far it has been all speculation and there's no real adoption going on. People have been buying crypto with the only intent of selling it later at a higher price. It could be said that adoption is stalled due to speculation which causes excessive volatility. We need a coin which price will be stable (more or less) and not at zero if we want it to succeed as a means of payment. Personally, I don't know if it's possible, ever.