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Author Topic: Why has crypto failed to break through still?  (Read 634 times)
Dragonfund
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November 15, 2020, 05:30:55 PM
 #101

As long as the government is still heavily involved in matters concerning finance, the full adoption of cryptocurrency will still be an issue. Cryptocurrency is not centralised and this is the real reason why the government is still considering adopting it up till this extent cause it's adoption means the government will no longer be in charge of money and we all know what their stance on that is.

I don't really like the idea of government poking their nose in cryptocurrency but don't you think their existence is also good in other to cub and eradicate users from using it for bad things such as dark web. We have seen many attempts of Hackers and kidnappers hidden behind monero to get ransom, scammers disguising as influencers and official handles. It's not bad when they are involved though I prefer when we have regulations that are favorable for everyone.
Talking about adoption, we have seen similar adoption in many countries such as
  • Facilitating Currency Exchange
  • Going Cashless
  • Easier Online Transactions
  • Appreciation as a Debt Solution
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Furious 7
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November 15, 2020, 11:47:20 PM
 #102

We can't rush things out because fiat is still the major currency that we need but it doesn't mean that crypto failed to breakthrough because there are already lots of developments and adoptions occurrence. We have to trust the process because even huge platforms and networks these days are already recognizing cryptocurrency.
Also the term break through is deceptive because bitcoins already is being used worldwide and even legal in some countries so the only thing that now remains is the adoption at shops and merchants which will take time because rushed adoption will also cause more scams because there are lots of ways a experienced crypto user can trick merchants like double spend and zero fees transactions.

The introduction of paypal accepting bitcoins might actually solve this problem because paypal is the biggest payment processor right now and if somehow bitcoin transactions are made through it, that would be plain awesome.
Shopping in stores will certainly be very closely watched, how later the price will drop dramatically or with fraud against it, it is still difficult to adopt because the government has not monitored it so online stores do not want to lose sight of this kind of risk, especially since the existence of bitcoin is still not fully legalized. therefore this adoption will continue over time, acceptance will make a breakthrough where all shopping stores will use the payment method with bitcoin.

Paypal accepts only 10% of cryptocurrency so this could be said on an experimental basis but it was seen in the CEO's tweet that this is doable and is in a more mature stage.

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November 16, 2020, 11:44:14 AM
 #103

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?
Do you think it's easy to leave fiat money in all countries, it seems difficult if that happens people will use gold, indeed until now bitcoin is not legal in all countries but everything will take place faster because it seems that cryptocurrency is slowly starting to be accepted by countries willing or no, this technological development will be the answer for everyone to realize that everything will be made easy through blockchain.


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