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Author Topic: Can we sell cryptocurrencies in the traditional market like any commodity?  (Read 111 times)
timerland
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August 04, 2018, 11:35:42 PM
 #21

First of all, what exactly do you mean by traditional markets?

Do you mean the traditional financial institutions that are currently playing a huge role in the fiat economy, or do you just mean the ability to spend bitcoins on a day to day basis for purchases? You really need to make yourself clear here.

Bitcoin is not something that is only offered to the rich. In fact, quite the opposite. The lack of entry requirements make it extremely accessible to anyone who wants to use it. In fact, most forum users are just regular Joes in reality. If you want to see bitcoin being integrated into the traditional banking system, I don't think that it's something that's needed at all. But it's definitely all up to the banks. However, from a commercial standpoint, bitcoin obviously currently can't be used for buying much goods at all on the traditional, offline markets, but this will change as adoption increases, imho.

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August 04, 2018, 11:44:24 PM
 #22

people are increasingly eager to use it but are still limited, it is a very hindering thing.
I don't have that impression actually. I see a lot people constantly rehash that they would use it in this or that scenario, but they aren't doing anything to prove that they are genuinely interested in utility instead of speculation.

Yes, adoption isn't optimal, but it's changing and there are enough ways to conveniently make use of your crypto currencies. You can always sign up for a crypto backed debit card allowing you to spend almost anywhere.

I am not really confident in things to change much in the coming few years, especially if crypto keeps jumping up and down. Less volatility will translate into less speculative trading and more actual use. Maybe that institutional capital will help.

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August 04, 2018, 11:54:29 PM
 #23

If crypto could be introduce in traditional market it will be awesome, unfortunately it's not that simple, the legality of crypto still in big question mark, and then the popularity in crypto is not too good in some countries, so I would say it need more time to introduce crypto to traditional market

Some of the countries (India) still think that crypto investments are like pyramid schemes, many people may lose money and the only handful of people will make money from these investments. The second issue is people can use cryptos for illegal activities and government agencies not able to trace them so legalising or regulating cryptos may take many many years. But whoever early investors may have good chance to make a good profit in the future so I think it is better to invest a small portion of savings in cryptos and wait.
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August 04, 2018, 11:58:04 PM
 #24

bitcoin can be sold as a commodity in a market place, much of bitcoin use for now is really not as a currency but as an asset, much like people buying gold or other precious metals. Maybe, in the not so distant future, its true use will be implemented. For now, it is traded as a commodity or asset
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August 05, 2018, 12:41:47 AM
 #25

the first step is, the legalization of the government. then provide a traditional market specifically for crypto. If there is no government legalization, it is difficult for a company or community to make a traditional crypto market.

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August 05, 2018, 01:36:36 AM
Last edit: August 05, 2018, 01:55:56 AM by marcbitcoins
 #26

The nature and perceptions about cryptocurrency is that it is for certain group of people .Either for only those who like technology or the rich.But if we can go a step further to introduce cryptocurrency like any other financial method in the traditional market places, people attention will be drawn.

Bitcoin as alternative investment was already introduced to the entire market and to the most people of the world. Its just happen that Bitcoin or the Crypto are not feasible to all in which the need of technology is vital to every people that will join this investment unlike the traditional market in which traditionally the commodities are mostly doable. Therefore Bitcoin as investments will need more development and improvement in order for this investment to become more acceptable in all over the world.

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August 05, 2018, 05:14:45 AM
 #27

The nature and perceptions about cryptocurrency is that it is for certain group of people .Either for only those who like technology or the rich.But if we can go a step further to introduce cryptocurrency like any other financial method in the traditional market places, people attention will be drawn.

Bitcoin as alternative investment was already introduced to the entire market and to the most people of the world. Its just happen that Bitcoin or the Crypto are not feasible to all in which the need of technology is vital to every people that will join this investment unlike the traditional market in which traditionally the commodities are mostly doable. Therefore Bitcoin as investments will need more development and improvement in order for this investment to become more acceptable in all over the world.
Yes, cryptocurrency is still young and people said that it still needs some regulation before government really support it.
But bitcoin market already reaches a few steps to be known in the traditional market, look at this news https://www.ccn.com/breaking-worlds-biggest-stock-exchange-operator-is-launching-a-bitcoin-market/.
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August 07, 2018, 12:53:17 PM
 #28

The comparison of electronic money and commodities is also applicable (my point of view). However, the nature of these two types is not the same. Commodities can hardly last long because they will break down over time, or get old and lose value. Electronic money is just numbers and it is not broken, but it will be affected by the general market. Currently not applicable. And in the future, I'm not sure.

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August 07, 2018, 01:01:45 PM
 #29

If the crypt is to cover the trade sector, then we will quickly come to the fact that the crypt becomes a full currency.
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