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Author Topic: [Article] 10 Reasons Why Cryptocurrency Isn't Mainstream Yet  (Read 181 times)
tokenlion
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May 10, 2018, 01:34:09 PM
 #1

Why Crypto Hasn't Gone Mainstream Yet

After a decade of trading and a market cap in hundreds of millions, it?s not yet clear ? will cryptocurrencies like Bit[Suspicious link removed]ver to the mainstream use?

One factor that could make or break a cryptocurrency is the ability to outgrow its FinTech image and put on some real economy clothes. It depends on consumers who decide whether or not to adopt cryptocurrencies as a payment method. Sadly, they are still vague when it comes trading fiat money for the cryptocurrency.

Also, some high-profile people are pessimistic on this idea of cryptocurrencies. A Nobel Prize-winning economist Robert Shiller (no pun intended) compared cryptocurrency with the Dutch tulip mania. On the other hand, Myron Scholes, another Nobel laureate, is taking part in the development of a low-volatility cryptocurrency Saga (SGA).

So, why cryptocurrencies aren?t mainstream yet?

1. Difficulties Spending
2. Poorly Understood
3. Volatility!
4. Legalities and other Regulations
5. Illegal Activities
6. Bitconnect!
7. Unregulated
8. Not a Commodity, not a Currency
9. Media Influence
10. Learning Curve

These are just the main outlines.

If interested, you can find the full article where each point is commented in detail here:
http://tokenlion.net/blog/post/117/10-reasons-why-cryptocurrency-isnt-mainstream-yet

What is your opinion on this? What are the reasons YOU think Cryptocurrency is not mainstream? If you had any crazy stories with crypto, let's hear it!
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freesia_pnp888
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May 10, 2018, 04:10:28 PM
 #2

it's not like easily accessible so it's why
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May 10, 2018, 07:47:36 PM
 #3

Im not sure cryptocurrencies will be mainstream as a spendable currency.
There is a good chance it will become mainstream as a technology.

As a spendable currency it has limitations as pointed out in the OP and I
wonder do we actually want crypto be be mainstream as a currency?
Would it be negatively impacted?

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May 10, 2018, 08:02:33 PM
 #4

The actual reason bitcoin hasn't gone mainstream yet is because of the continuous waves of FUD being spread against it by the luddites and paid media. Of course it has scaling problems which do limit its growth, but the scaling issue would have been solved a long time ago if adoption had improved.

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tokenlion
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May 10, 2018, 08:28:29 PM
 #5

Im not sure cryptocurrencies will be mainstream as a spendable currency.
There is a good chance it will become mainstream as a technology.

As a spendable currency it has limitations as pointed out in the OP and I
wonder do we actually want crypto be be mainstream as a currency?
Would it be negatively impacted?

I'd like to see a future where people can choose between two alternative payment options - fiat or crypto, on the spot. It should be convenient from the first look.
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May 10, 2018, 08:55:15 PM
 #6



1. Difficulties Spending - yes; until they become well regulated and secure, a mass adoption by sellers will be impossible;
2. Poorly Understood - that is the problem of the people actually.... there are so many well-written guides around; no help there, and not intrinsic to cryptos;
3. Volatility! - yes, while the volatility is exactly what is attracting the investors, it is not what the goods and service traders are looking for;
4. Legalities and other Regulations - we are slowly getting there.....
5. Illegal Activities - there always will be some... what about FIAT, there are much more illegal activities there....
6. Bitconnect! - who cares? There will always be projects like that one;
7. Unregulated - kinda like number 4, isn't it?
8. Not a Commodity, not a Currency - it will be legislatively defined... some of them (tokens) will become a commodity, while others (coins) a currency;
9. Media Influence - media influences everything really... the only problem is.... it is amazing how people tend to believe the titles although everybody knows nowadays that titles are always pulled out of context....
10. Learning Curve - good guides, really, it is easy.... and there are lots of people that can explain to other people which makes it even more easy... If you are interested, you will learn....

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May 11, 2018, 09:24:29 AM
 #7

6. Bitconnect!

9. Media Influence
I do think these 2 reasons are the main thing people started to know more about bitcoin and also the reasons there are so many negative news shrouding bitcoin. Bitconnect might be the biggest ponzi coin scheme yet but the downfall of it make more people started to search about cryptocurrencies because it makes people more cautious about what investment is that all about.

Media influence on the other hand is the most corcening parts and i'm sure media has been the biggest free advertisement campaign for bitcoin although most recent news about it was negative news and comment. However it raise people awareness about cryptocurrency and i think media has done his job well until now  Grin Grin

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May 11, 2018, 12:30:39 PM
 #8

the real question is to first define mainstream

some define mainstream as able to buy toilet roll and a pack of bacon from any 7-11, by spending crypto (retail mainstream)
some define mainstream as being traded on the NYSE (professional investment mainstream)
some define mainstream as being being able to bye crypto from many places to hold (amateur investment mainstram)

i would say lack of regulations are preventing professional investment. but when you get into the details. its BUSINESSES handling fiat that get regulated and they can apply any time they like and then handle crypto as part of that business.

but for everything else regulations for crypto are not needed, nor should they be promoted to be required. this is because getting businesses to snoop on the businesses own customers(regulations) is just adding admin onto the business, costs and also not helping the customer. just to get a "certification" that doesnt mean anything. apart from getting to say "we are professionals"

what would be something worth promoting is consumer protection. where authorities are not just handing out certificates(licences) but actually policing the businesses to ensure they do no harm to the customers. that way businesses act morally and ethically and customers will then be more willing to use them

regulations push average joe away due to headaches of applications forms and submitting life stories... consumer protection welcome more people due to being more relaxed that te business cant just run off. or is already hiding on a secret island

i find it real strange how so many people think letting a business that handles our funds should have the right to hide its identity. but require every customer who gives a business money has to identify themselves.. that is a silly reverse reason for anonimty.
businesses should identify themselves and allow the customers to not have to be scammed, stolen from and identified

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May 11, 2018, 12:31:52 PM
 #9

Very rich people are also at very great risk, like us all. Here s an example, if suddenly somewhere in the Arab Emirates decided to buy a long-line like many people do, but in a very large volume bitcoin. In this situation, large investors need to jump out of the window, the reasons for it are understandable
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May 11, 2018, 12:32:10 PM
 #10

A good summation of the main points. Some of them such as regulations are getting there and when they do a lot of the others will cease to be problems soon after.
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May 11, 2018, 01:20:56 PM
 #11

Digital currency is replacing fiat currency but the speed is slow.  The reasons being illiteracy; poverty etc in many countries.  We can not expect that an illiterate man can use crypto currency because he does not know how to operate internet on the mobile.
Due to poverty even large population is not having smart phones so impossible for them presently. 
But I am sure with the passage of time ;revolution is taking place; slowly the fiat currency is being replaced by crypto.
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May 11, 2018, 01:32:46 PM
 #12

Why Crypto Hasn't Gone Mainstream Yet

After a decade of trading and a market cap in hundreds of millions, it?s not yet clear ? will cryptocurrencies like Bit[Suspicious link removed]ver to the mainstream use?

One factor that could make or break a cryptocurrency is the ability to outgrow its FinTech image and put on some real economy clothes. It depends on consumers who decide whether or not to adopt cryptocurrencies as a payment method. Sadly, they are still vague when it comes trading fiat money for the cryptocurrency.

Also, some high-profile people are pessimistic on this idea of cryptocurrencies. A Nobel Prize-winning economist Robert Shiller (no pun intended) compared cryptocurrency with the Dutch tulip mania. On the other hand, Myron Scholes, another Nobel laureate, is taking part in the development of a low-volatility cryptocurrency Saga (SGA).

So, why cryptocurrencies aren?t mainstream yet?

1. Difficulties Spending
2. Poorly Understood
3. Volatility!
4. Legalities and other Regulations
5. Illegal Activities
6. Bitconnect!
7. Unregulated
8. Not a Commodity, not a Currency
9. Media Influence
10. Learning Curve

These are just the main outlines.

If interested, you can find the full article where each point is commented in detail here:
http://tokenlion.net/blog/post/117/10-reasons-why-cryptocurrency-isnt-mainstream-yet

What is your opinion on this? What are the reasons YOU think Cryptocurrency is not mainstream? If you had any crazy stories with crypto, let's hear it!


you got some reasons right, along with bitconnect you could name some others like mt gox. But all in all, it's only natural the industry has some pitfalls holding them back, but that all will be overcome.
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May 12, 2018, 09:53:48 PM
 #13

Yes it has not been the mainstream currency yet but this is not definite that it will not be in future. Bitcoin as well as other cryptocurrencies are widely spread and accepted by people. And it already has been approved as payment method in my platform. So I believe it will be mainstream currency very soon. BTCBTC
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May 12, 2018, 11:13:38 PM
 #14

According to me, I guess the reason behind crypto not being a mainstream still now is that it is still illegal in many countries.  Moreover there is always flactuations in this market which might also be a reason.
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May 13, 2018, 02:25:18 AM
 #15

1. Difficulties Spending
2. Poorly Understood
3. Volatility!
4. Legalities and other Regulations
5. Illegal Activities
6. Bitconnect!
7. Unregulated
8. Not a Commodity, not a Currency
9. Media Influence
10. Learning Curve

you are just repeating yourself to increase the number of reasons! most of these "reasons" are basically the same for example you say "bitconnect" which falls under illegal activity an it is not even big enough to be its own reason. you may have said Mt Gox here which was a much better reason on its own but it is old now.

in my opinion the only reason why it is not yet adopted on massive scale is the fact that there is a lot of attacks against bitcoin in the media. this is starting to change, ever since last year Japan adopted bitcoin openly but it will take time. the rest are all too small a reason to be effective.

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May 13, 2018, 11:45:08 AM
 #16

In recent times bitcoins popularity increasing but it not reach top of the mark. There are many people who wants to decrease bitcoin popularity. It is a problem but it has the ability to overcome this problem.
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May 13, 2018, 11:48:46 AM
 #17

Why Crypto Hasn't Gone Mainstream Yet

After a decade of trading and a market cap in hundreds of millions, it?s not yet clear ? will cryptocurrencies like Bit[Suspicious link removed]ver to the mainstream use?

One factor that could make or break a cryptocurrency is the ability to outgrow its FinTech image and put on some real economy clothes. It depends on consumers who decide whether or not to adopt cryptocurrencies as a payment method. Sadly, they are still vague when it comes trading fiat money for the cryptocurrency.

Also, some high-profile people are pessimistic on this idea of cryptocurrencies. A Nobel Prize-winning economist Robert Shiller (no pun intended) compared cryptocurrency with the Dutch tulip mania. On the other hand, Myron Scholes, another Nobel laureate, is taking part in the development of a low-volatility cryptocurrency Saga (SGA).

So, why cryptocurrencies aren?t mainstream yet?

1. Difficulties Spending
2. Poorly Understood
3. Volatility!
4. Legalities and other Regulations
5. Illegal Activities
6. Bitconnect!
7. Unregulated
8. Not a Commodity, not a Currency
9. Media Influence
10. Learning Curve

These are just the main outlines.

If interested, you can find the full article where each point is commented in detail here:
http://tokenlion.net/blog/post/117/10-reasons-why-cryptocurrency-isnt-mainstream-yet

What is your opinion on this? What are the reasons YOU think Cryptocurrency is not mainstream? If you had any crazy stories with crypto, let's hear it!

i think one of the biggest reason why still most of the people is still not interested in bitcoin because its unregulated, people wants assurances before they engage to it, so hearing bitcoin is not regulated by someone they lose interest of it and thats why they need to understand fully how the bitcoin works and why
kendra1107
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May 13, 2018, 12:31:56 PM
 #18

Why Crypto Hasn't Gone Mainstream Yet

After a decade of trading and a market cap in hundreds of millions, it?s not yet clear ? will cryptocurrencies like Bit[Suspicious link removed]ver to the mainstream use?

One factor that could make or break a cryptocurrency is the ability to outgrow its FinTech image and put on some real economy clothes. It depends on consumers who decide whether or not to adopt cryptocurrencies as a payment method. Sadly, they are still vague when it comes trading fiat money for the cryptocurrency.

Also, some high-profile people are pessimistic on this idea of cryptocurrencies. A Nobel Prize-winning economist Robert Shiller (no pun intended) compared cryptocurrency with the Dutch tulip mania. On the other hand, Myron Scholes, another Nobel laureate, is taking part in the development of a low-volatility cryptocurrency Saga (SGA).

So, why cryptocurrencies aren?t mainstream yet?

1. Difficulties Spending
2. Poorly Understood
3. Volatility!
4. Legalities and other Regulations
5. Illegal Activities
6. Bitconnect!
7. Unregulated
8. Not a Commodity, not a Currency
9. Media Influence
10. Learning Curve

These are just the main outlines.

If interested, you can find the full article where each point is commented in detail here:
http://tokenlion.net/blog/post/117/10-reasons-why-cryptocurrency-isnt-mainstream-yet

What is your opinion on this? What are the reasons YOU think Cryptocurrency is not mainstream? If you had any crazy stories with crypto, let's hear it!
Crypto hasn't gone mainstream yet simply because most governments don't allow it. Most of your points are valid but not major. These are just some of the difficulties crypto users need to deal with. But when it comes to mainstreaming, these reasons have very little influence (except #4).

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May 13, 2018, 12:43:40 PM
 #19

Why Crypto Hasn't Gone Mainstream Yet

After a decade of trading and a market cap in hundreds of millions, it?s not yet clear ? will cryptocurrencies like Bit[Suspicious link removed]ver to the mainstream use?

One factor that could make or break a cryptocurrency is the ability to outgrow its FinTech image and put on some real economy clothes. It depends on consumers who decide whether or not to adopt cryptocurrencies as a payment method. Sadly, they are still vague when it comes trading fiat money for the cryptocurrency.

Also, some high-profile people are pessimistic on this idea of cryptocurrencies. A Nobel Prize-winning economist Robert Shiller (no pun intended) compared cryptocurrency with the Dutch tulip mania. On the other hand, Myron Scholes, another Nobel laureate, is taking part in the development of a low-volatility cryptocurrency Saga (SGA).

So, why cryptocurrencies aren?t mainstream yet?

1. Difficulties Spending
2. Poorly Understood
3. Volatility!
4. Legalities and other Regulations
5. Illegal Activities
6. Bitconnect!
7. Unregulated
8. Not a Commodity, not a Currency
9. Media Influence
10. Learning Curve

These are just the main outlines.

If interested, you can find the full article where each point is commented in detail here:
http://tokenlion.net/blog/post/117/10-reasons-why-cryptocurrency-isnt-mainstream-yet

What is your opinion on this? What are the reasons YOU think Cryptocurrency is not mainstream? If you had any crazy stories with crypto, let's hear it!

One more thing.
Cryptocurrency is less safety compared to any other invesments.
That's why people not brave enough to invest some of their money to crypto.
While the people who already involved, get much profits.

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May 13, 2018, 01:04:18 PM
 #20

Bitcoin as well as other cryptocurrencies are widely spread and accepted by people. depends on consumers who decide it.
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