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Author Topic: What do you believe is needed for crypto currencies to be mass adopted?  (Read 388 times)
raven7886
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March 20, 2018, 09:25:55 AM
 #81

We at Quantum1Net believes what needed is higher amount of data transaction and speed, lower power consumption and stronger security.
https://github.com/quantum1net/Documents
Other than that, what do you think?
Bitcoin needs to work as a currency that's what we really need not many people are going to put their money bitcoin if it is just a high risk investment, after all how many people are investing in those kind of products not many I suppose, but everyone needs to use currency from the richest man in the world to the poorest so until bitcoin is able to satisfy that condition then we cannot get mass adoption.
As simple as that which was the main reason and a lot of people are losing that part and only end up making people to see the asset part of it which makes it highly speculative in nature. If everyone can easily use it as a currency with some of the attributes that the Op has listed, that is what will make it easy for mass adoption to work. The little adoption that we had recently showed some of these lapses and it is good to know where we really need to keep improving.

I do believe the awareness among common people like the advantages of decentralization and benefits of blockchain data management kind of improvements will definitely contribute to the future where more people will be adopting cryptocurrencies.
Yes, spreading out benefits of blockchain and its derivatives to common people will result in mass adoption. But, we cannot expect it to happen in short time. So, we must give it time so that people will understand the system. I do believe it is already happening in every part of the world.
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March 20, 2018, 09:30:45 AM
 #82

Cryptocurrencies will never be a mainstream and mass adopted.
If you look at some analysis around 2 millions people in the world are using cryptocurrencies. Which is realy small percentage in overal number of angažiranja.
People like security and stabilitiy, like legal framework and protection of the governments. Everything that cryptocurrencies don't have and that is why they will never become mass but always stay just alternative to traditional fiat currencies and economic system.

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March 20, 2018, 10:09:07 AM
 #83

For now bitcoin is just a volatile currency which will never lead to mass adoption. Not enough people are using it and there is not enough to go around in the world really like there is fiat. Like someone stated, bitcoin now is a high risk investment and the people who are in the market know this and that is why they are buying into it but not everyone wants to buy into a high risk investment.



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South Park
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March 21, 2018, 04:35:05 PM
 #84

I believe in security was the thing needed to be put in place and I choose security because insecurity was the cause of the dip happening in crypto market and it was the samething that attract the SEC and regulator. In addition,something also must be done to stop crypto exchange hack and scam issue.

There is nothing to be done about the hacks, bitcoin has never been hacked, it is the people the ones that do not take care of their coins and lose them as a result of that, people need to be more careful in the way they deal with their money and with their information online, but they don't do that they always rely that someone is going to save them and fix things but that is simply not true in bitcoin.
I never said bitcoin was hacked in the first place and it wont be because of the protocol create to secure the network. Meanwhile,you're right when you said people need to be more careful in the way they deal with their money and we all say it not good to keep coin on exchange site while we all have some coin on there because we all need their service sometime and if the exchange scam/hacking are not fix no one is save and this could cause something far more worst to the crypto market.
Well, I didn't say that you said it either, my point was that the reason there is nothing we can do about hacking is that this is a problem that needs to be dealt at a personal level, bitcoin is as secure as it can be and there is nothing we can do to make it even more safer so the ones that need to take steps in order to try to solve that problem are people themselves.



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March 21, 2018, 04:37:34 PM
 #85

We at Quantum1Net believes what needed is higher amount of data transaction and speed, lower power consumption and stronger security.
https://github.com/quantum1net/Documents
Other than that, what do you think?
To be more stable and more popular cause nowadays most of people don't even know about this world and big movement which they had on market make them impossible to be introduced in stores.

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Palmerson
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March 21, 2018, 04:47:32 PM
 #86

We at Quantum1Net believes what needed is higher amount of data transaction and speed, lower power consumption and stronger security.
https://github.com/quantum1net/Documents
Other than that, what do you think?
To be more stable and more popular cause nowadays most of people don't even know about this world and big movement which they had on market make them impossible to be introduced in stores.
For sellers, it doesn't matter how many people own bitcoins. If these people can give them the money, they'll never give it up. But are people ready to part with their bitcoins? The price of the transaction and the time of their confirmation also make such trading uncomfortable. But some products can now be easily bought and sold for bitcoins.
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March 21, 2018, 05:03:25 PM
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 #87

I believe crypto currencies will be mass adopted only if they become accepted as legal tender in exchange of so many goods and services. Despite the convenience crypto currencies depict to users, well known services providers such as McDonald's, Airline companies, Online trading platforms and so on can massively push the agenda of decentralization through acceptance of crypto currencies for their goods and services.
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March 21, 2018, 06:57:51 PM
 #88

I think we need advertisement across the globe and mainstream media for BTC to proliferate and be adopted by the public. All of bitcoin's features should be spread by the media and not just the negativities and rumors. The technology behind and how it works should be understood first before the public place its trusts.

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March 21, 2018, 06:59:52 PM
 #89

What is needed is more regulation, too much scam, pump and dump schemes, unrealistic promises. Once regulations are in place that will protect investors, cryptos will be much more mainstream.
The downside of this is fewer returns.

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March 21, 2018, 07:42:48 PM
 #90

We at Quantum1Net believes what needed is higher amount of data transaction and speed, lower power consumption and stronger security.
https://github.com/quantum1net/Documents
Other than that, what do you think?

I think these factors are important but they are nowhere near enough nor they are the primary factors leading to and required for mass adoption. Before anything else, crypto holders should be willing to spend their coins for goods and services. So far people have been using crypto mostly for speculation, if not to say primarily for speculation. No merchant will use a cryptocurrency unless and until there are buyers who are ready to actually spend it on their merchandise.
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March 21, 2018, 08:06:46 PM
 #91

Lower transaction fee will help. Lower volatility and fluctuation.  Also, I surely know that if bitcoin were to be transacted off line and without internet connection, it would have since widely adopted  Roll Eyes

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March 21, 2018, 09:12:31 PM
 #92

I think that people belief is what we need for a mass adoption. No matter how good cryptocurrencies can be, it can not be accepted if people do not believe in it. The more I use bitcoin, the more I know about the cryptocurrency and I believe that cryptocurrencies are made for good purposes. All we need right now is that other people have the same thought like I do

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March 21, 2018, 09:38:03 PM
 #93

We at Quantum1Net believes what needed is higher amount of data transaction and speed, lower power consumption and stronger security.
https://github.com/quantum1net/Documents
Other than that, what do you think?

I think that cryptocurrency will be fully accepted if government will stop on stealing money from different people because you can always view the transactions of different people in their wallet and that's one of the reason why government does not want a cashless country.

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March 21, 2018, 09:45:26 PM
 #94

need time. because many people are still not adapted to simple technologies. there are still so many people that can not use even online banking or debit cards. it is hard to expect them to use cryptocurrencies. they need time...

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March 22, 2018, 08:47:38 PM
 #95

Lower transaction fee will help. Lower volatility and fluctuation.  Also, I surely know that if bitcoin were to be transacted off line and without internet connection, it would have since widely adopted  Roll Eyes

Lower volatility and price fluctuations subsiding will definitely help but here we have an obvious vicious circle. Bitcoin and other cryptocurrencies are volatile because there is no real support in the commercial sector, which should be straightforward. But the latter doesn't support Bitcoin because it is too volatile. And to break out we need more people wanting to spend bitcoins in real life. This is the root cause - lack of spending attitude - which gives rise to these self-sustaining feedback loops.
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March 22, 2018, 08:57:32 PM
 #96

need time. because many people are still not adapted to simple technologies. there are still so many people that can not use even online banking or debit cards. it is hard to expect them to use cryptocurrencies. they need time...
The high volatility is the reason why bitcoins is yet ti be adopted by the masses. Its th reason why retailers haven't started to accept Bitcoins as a method of payment this far and when they do, more and more people will start to use bitcoins for their purchases.



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Rainbot
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March 22, 2018, 11:39:07 PM
 #97

Most of investors still stay out of bitcoin for the reason that it's totally decentralised and doesn't have any authority to either ensure its price or to control any types of scams.So if bitcoin gets globally regulated,then it would help mass adoption.
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March 23, 2018, 02:10:07 AM
 #98

I dont think it is possible to do that in near future. It is because every (imagine how much there is crypto) need to be really stable. It is still to many risks for anyone who thinks about investing in crypto as their price is not stable and in matter of days you can bancrupt.
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March 23, 2018, 02:18:58 AM
 #99

I think that central banks should consider the possibility of creating national digital currencies. The technology of the distributed registry will allow central banks to improve protection from cyberattacks and the mechanism of money transfers between legal entities and individuals

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March 23, 2018, 02:27:16 AM
 #100

As adopters, we should show the people the true usage of cryptocurrency. As for bitcoin, we should use it as a currency/payment option more than an asset because the more people who hold it for a long time and then sell it if they got profit, the continuous flow of the coin will not happen. I know that it is hard for now to use it as a currency because the merchants are limited so you can't totally use it in all of your transactions.

Trust is important as well so that people will start using it. The problem nowadays is that there are so many people who are against it spreading FUD so people has the impression that it is use for bad purpose. This is one of the things that hinders mass adoption. There is also the issue of legality. As long as it is not regulated, some people would be skeptic and would not dare be involved with it.
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