Jerryzack2 (OP)
Newbie
Offline
Activity: 69
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 04, 2018, 08:45:27 PM |
|
Like I'd always say, mainstream is when I can buy a hotdog from a vendor on the street and with instantaneous transaction, be on my way in a matter of seconds just like in the case of fiat. The lay person has greater influence over the usage of crypto since it's peer to peer designed. This is the leverage crypto has over credit cards and other payment systems and processors. Utrust, Pundi X and others are truly working to achieve that goal. But recently I stumbled upon another upcoming ICO, MFChain. Well, they have so many promises, and if anything they've promised is true, then mainstream adoption of cryptocurrencies is closer than many think. What do you guys think?
You mention Pundi X and Utrust as some projects working on this, i have seen mfchain, but currently checking out bakkt project which claim their solution will fully collateralized the buying and selling of bitcoin. Do you think that mfchain or any other project stand a chance to providing this solutions 1. volatility 2. scalability 3. Regulation 4. privacy. Knowing fully well that cryptocurrency was design to be decentralized and many users prefer to remain ananimous, with cryptocurrency traders benefiting from this volatility, and recently pump and dumps happening in the crypto space?
|
|
|
|
Jerryzack2 (OP)
Newbie
Offline
Activity: 69
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 04, 2018, 09:01:58 PM |
|
The 'solution' is to have people switch their mindset. Instead of looking at Bitcoin as an investment or get rich quick tool, see it as sound money.
The more people use it as money, the more Bitcoin's utility value increases, and thus its price will increase as well. It's pretty shitty if you're here solely for the increases, because you're missing the whole point of this decentralized revolution. Converting Bitcoin to fiat is just trashy in my opinion; you're selling Gold for Copper, which is just a very bad deal.
Complaining about fees isn't an excuse to not use Bitcoin as money. I use PayPal from time to time as well, and the last time I used their service to move $20 worth of value, they charged me a whopping ~$2.5 in fees. The last time I used Bitcoin to move value it only required a fee of $0.05 so who's getting a better deal, PayPal users or Bitcoin users?
I absolutely agree with your point, the more people use bitcoin the more it value will increase
|
|
|
|
Harlot
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 04, 2018, 09:07:44 PM |
|
ETFs was never meant to become a way for mainstream adoption this is just a way for financial institution to finally put BTC as an investable asset and financial institutions is not the biggest market we need to adopt. If we want BTC to become a currency or a payment method of choice we need more people to use it as what its made for and not rely on ETFs being approved by SEC there are other ways this can succeed and one of them is through legislation which is happening right now in a lot of countries. If we have a proper law we can start to see that a lot of people will personally use BTC.
|
|
|
|
easemypain
Jr. Member
Offline
Activity: 448
Merit: 2
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 09:50:35 AM Last edit: September 08, 2018, 07:42:06 PM by easemypain |
|
Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?
As contribution to what you have stated above. Cryptocurrency as we all know storm the world in a speculative manner, individuals were basically concern about how much they can leverage this to earn massively, but less aware of the original use case 'censorship resistance' that is 'financial autonomy' for every individual as it is stated in the first white paper. This very wrong notion towards crypto invention has made it possible for its use for fraudulent activities anonymously. For this can be a very good reason that resulted in the SEC rejection. The big question is if the emphasis on crypto regulation is to reduce cybercrime, fraudulent act. Will it solve cryptocurrency volatility? will it influence mainstream adoption? What should be of great concern is, making "Blockchain technology" prove its high reliability to gain more acceptance from government and big financial players, and this could only be achieved through: 1. Make clear of cryptocurrency through education: this could be achieved when crypto projects continue leading discussions about this 'technology' organizing conferences, blog post, video clips, if possible a movie etc. In summary public awareness campaign is important. 2. Easing security concerns: making individuals/ investors to be in charge of their funds as opposed to the conventional banking system, for Linkchain team is working hard to bring this to reality. And If the crypto 'bitcoin' can be restored to the original use case and these above mentions are tactically applied then, we will be several inches closer to mainstream adoption.
|
MINTER - WE MINT COINS AND CREATE THE INTERNET OF MONEY ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ https://www.minter.networ
|
|
|
timerland
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 11:43:08 AM |
|
Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?
First of all, I'd say that ETF rejections really has nothing to do with mainstream adoption whatsoever. While an approval would definitely be nice, it's not going to all of a sudden mean that actual bitcoin usage will increase. In fact, the only category of users that will see an increase will probably be financial institutions such as investment banks. ETFs are aimed at these types of people, who deal with investments. Average bitcoiners will never even directly deal with an ETF, which is why I think it's been overhyped and quite irrelevant. What needs to happen for mainstream adoption is really some sort of incentive to use it. I believe that would be bitcoin as a international currency on the internet, while being a store of value. To achieve this, there needs to be surges in merchant adoption which we're already seeing, however, this will take more time before it could become anything "mainstream". But bitcoin could already be considered to be quite "mainstream" in terms of helping people get their money out of fiat in some countries with strict capital control, even though it could be considered to not be so elsewhere.
|
|
|
|
olumyd
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 12:04:59 PM |
|
ETFs was never meant to become a way for mainstream adoption this is just a way for financial institution to finally put BTC as an investable asset and financial institutions is not the biggest market we need to adopt. If we want BTC to become a currency or a payment method of choice we need more people to use it as what its made for and not rely on ETFs being approved by SEC there are other ways this can succeed and one of them is through legislation which is happening right now in a lot of countries. If we have a proper law we can start to see that a lot of people will personally use BTC.
ETF was indeed a step in that direction. The one very specific reason why people still can't identify with crypto is that of its unregulated and dissociated characters. With more institutional investors coming into crypto space and having a sort of a common ground and drive for mainstream application, will give more rigidity to the industry. But for now, we are largely speculative and bullish about crypto with no substance to stand on.
|
|
|
|
meanwords
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 12:46:41 PM |
|
All I see about ETF is a quick adoption for investors and a quick buck for those who invested early. I don't see ETF helping us make Bitcoin a currency that we could use everyday. I only see it as a way for the price to either increase or decrease. I'm still not sure what would be the best solution but some adoptions are already taking place.
|
|
|
|
Jerryzack2 (OP)
Newbie
Offline
Activity: 69
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 04:05:09 PM |
|
Well lets face the issue of ETF. It might not have any direct impact to bitcoin but we know that its acceptance will increase the whole business of cryptos but, it won't be accepted because SEC wouldn't do that if there are no outright regulations. For me, whether it will succeed in later days, does not matter to bitcoin's value.
Since you agree with the fact that regulation is needed, why do you then think it will have no impact on the value of bitcoin? Many are making money from crypto through speculations though, many on this thread have agreed that SEC approval does not equal mainstream adoption. How will regulation be achieved?
|
|
|
|
Jerryzack2 (OP)
Newbie
Offline
Activity: 69
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 04:23:14 PM |
|
Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?
First of all, I'd say that ETF rejections really has nothing to do with mainstream adoption whatsoever. While an approval would definitely be nice, it's not going to all of a sudden mean that actual bitcoin usage will increase. In fact, the only category of users that will see an increase will probably be financial institutions such as investment banks. ETFs are aimed at these types of people, who deal with investments. Average bitcoiners will never even directly deal with an ETF, which is why I think it's been overhyped and quite irrelevant. What needs to happen for mainstream adoption is really some sort of incentive to use it. I believe that would be bitcoin as a international currency on the internet, while being a store of value. To achieve this, there needs to be surges in merchant adoption which we're already seeing, however, this will take more time before it could become anything "mainstream". But bitcoin could already be considered to be quite "mainstream" in terms of helping people get their money out of fiat in some countries with strict capital control, even though it could be considered to not be so elsewhere. You mention merchant adoption, i agree with that. I have read about mfchain, Utrust and Bakkt. Which other projects are working on merchant adoption? Though i have notice very high volume of BTC from countries with difficult economic stability like Turkey.
|
|
|
|
jvdp
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 04:32:33 PM |
|
Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?
First of all, I'd say that ETF rejections really has nothing to do with mainstream adoption whatsoever. While an approval would definitely be nice, it's not going to all of a sudden mean that actual bitcoin usage will increase. In fact, the only category of users that will see an increase will probably be financial institutions such as investment banks. ETFs are aimed at these types of people, who deal with investments. Average bitcoiners will never even directly deal with an ETF, which is why I think it's been overhyped and quite irrelevant. What needs to happen for mainstream adoption is really some sort of incentive to use it. I believe that would be bitcoin as a international currency on the internet, while being a store of value. To achieve this, there needs to be surges in merchant adoption which we're already seeing, however, this will take more time before it could become anything "mainstream". But bitcoin could already be considered to be quite "mainstream" in terms of helping people get their money out of fiat in some countries with strict capital control, even though it could be considered to not be so elsewhere. You mention merchant adoption, i agree with that. I have read about mfchain, Utrust and Bakkt. Which other projects are working on merchant adoption? Though i have notice very high volume of BTC from countries with difficult economic stability like Turkey. Apart from merchant adoption we need to expect the the business people's adoption and governments move towards the cryptocurrencies. As of now we did not find the big reach from the government side at all. I see this SEC decision these much time but there is no any positive view from their move. If they accepted the ETF this month also then we can decide that it will not be a right to pass with them.
|
|
|
|
TravelMug
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 10:00:06 PM |
|
Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?
First of all, I'd say that ETF rejections really has nothing to do with mainstream adoption whatsoever. While an approval would definitely be nice, it's not going to all of a sudden mean that actual bitcoin usage will increase. In fact, the only category of users that will see an increase will probably be financial institutions such as investment banks. ETFs are aimed at these types of people, who deal with investments. Average bitcoiners will never even directly deal with an ETF, which is why I think it's been overhyped and quite irrelevant. What needs to happen for mainstream adoption is really some sort of incentive to use it. I believe that would be bitcoin as a international currency on the internet, while being a store of value. To achieve this, there needs to be surges in merchant adoption which we're already seeing, however, this will take more time before it could become anything "mainstream". But bitcoin could already be considered to be quite "mainstream" in terms of helping people get their money out of fiat in some countries with strict capital control, even though it could be considered to not be so elsewhere. You mention merchant adoption, i agree with that. I have read about mfchain, Utrust and Bakkt. Which other projects are working on merchant adoption? Though i have notice very high volume of BTC from countries with difficult economic stability like Turkey. Aside from Turkey, we have Venezuela and Zimbabwe as well. Its already proven that bitcoin can be used as hedge against countries we suddenly have deep economic instability for whatever reasons. Yes, merchant adoption should be the top on my list as well. There are a lot accepting bitcoins, but we need more in order to get started this whole mainstream adoption. About the SEC, I'm totally against any ETF for now because the market have shown to be very volatile and more investors are likely to lose money here in they are not careful. Another reason why I don't like ETF's is not the custodian will be very influential thus manipulation is not reduced but it can be worst.
|
R |
▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | │ | 1,000x LEVERAGE | │ | COMPETITIVE FEES | │ | INSTANT EXECUTION | │ | . TRADE NOW |
|
|
|
pitiflin
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 10:28:35 PM |
|
Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?
You got interested in crypto at a bad time. ETF has nothing with crypto. And ETF sucks. I don't know how much emphasis I have put on the statement that has basically said that ETF sucks, but I have said that alot in the past weeks. Crypto adoption is irrelevant, for most cryptos are outright useless shitcoins. What matters is bitcoin adoption,and for that people need to understand how it works and accept it as a currency. Until then,keep dreaming about adoption.
|
|
|
|
Strufmbae
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 486
Merit: 27
HIRE ME FOR SMALL TASK
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 10:56:14 PM |
|
Better have no ETF for the bitcoin because it will bring more institutional investors who just do bump and dump the coins so the crypto currencies will become a full time investment rather than the currency system. The solution to mainstream adoption is start accept bitcoin as currency and start using bitcoin where you can spend that.
Exactly, if this goes to an acceptance then every big players and governments will just play the price of bitcoin, authority will be upon them since the system will be regulated if application will be accepted, there are advantages and disadvantages about this issue but in my side I would likely to have it accepted but not regulated.
|
|
|
|
sheenshane
Legendary
Offline
Activity: 2464
Merit: 1231
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 11:22:46 PM |
|
Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?
Nothing, bitcoin will rise up itself without ETF implementation because ETF has nothing change the price of the bitcoin. Before bitcoin raised up in the market by itself and no ETF implementation so it is possible that it will happen again. The price movement that we can help the market make green is not to panic selling even how many FUD news comes, stay strong and hold your portfolio not to sell you bitcoin. In that way, we can help market and even how many ETF application we don't need that.
|
|
|
|
Rahar02
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 05, 2018, 11:48:53 PM |
|
ETF is one of the solutions to increase the fame of bitcoin when the price skyrocket once again, but it's not the solution for mainstream adoption. Believe it or not, bitcoin created not meant to be a mainstream means of payment due to some limitations.
Although we want it to be, bitcoin isn't ready yet and many changes required, but the most important is a country acceptance. We can't use it as much as we want if the government does not acknowledge it as a legal payment method, and layman won't accept bitcoin in their business, merchants or store. The solutions? Deal with the government and bitcoin core.
|
|
|
|
avikz
Legendary
Offline
Activity: 3192
Merit: 1523
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 06, 2018, 09:56:02 AM |
|
Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?
What made you think that ETF will take us towards the mainstream adoption?? If you are still thinking so, please check your facts! In all 9 of the ETFs that were rejected, only one of them were proposed to be backed by physical bitcoin. Rest all 8 ETFs were proposed to be backed by trading notes and bitcoin futures of CME group. If you think these are mainstream adoption, then you are living in a fool's paradise. The mainstream adoption can only be fueled by the clear legal framework which is largely missing in majority of the countries. Merchants will only show interest in accepting bitcoin, only if they see clear legal grounds created by their government, otherwise not! Japan, Germany and Malta have already paved the way for mainstream adoption, but I don't see any other country with the similar status. ETF is only here to fill the pockets and purpose of the corporates, not us!
|
|
|
|
r32godzilla
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 07, 2018, 02:00:21 PM |
|
The 'solution' is to have people switch their mindset. Instead of looking at Bitcoin as an investment or get rich quick tool, see it as sound money.
The more people use it as money, the more Bitcoin's utility value increases, and thus its price will increase as well. It's pretty shitty if you're here solely for the increases, because you're missing the whole point of this decentralized revolution. Converting Bitcoin to fiat is just trashy in my opinion; you're selling Gold for Copper, which is just a very bad deal.
Complaining about fees isn't an excuse to not use Bitcoin as money. I use PayPal from time to time as well, and the last time I used their service to move $20 worth of value, they charged me a whopping ~$2.5 in fees. The last time I used Bitcoin to move value it only required a fee of $0.05 so who's getting a better deal, PayPal users or Bitcoin users?
Absolutely.SEC approving bitcoin ETF will not be a solution.Almost majority of bitcoin holders now have bought bitcoin considering it as a high ROI giving asset.It was in past when people bought bitcoin to support this wonderful technology and also to use it as a payment system instead of banks.Only if the mentality of bitcoin holders switch back to use it as a payment method,then only we could expect bitcoin to enter main stream usage.Just buying bitcoins and making it idle will not help. Quote
|
|
|
|
florianuhlemann
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 08, 2018, 07:50:58 AM |
|
these deviations are intended, no one said that cryptocurrencies will be accepted instantly. The market is not ready yet
|
|
|
|
prokerduit
Newbie
Offline
Activity: 266
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 08, 2018, 09:59:22 AM |
|
Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?
yes it's true that it happened because of adoption. maybe it would be better if there is an agency that calculates the population so that adoption can be well controlled. to reduce adoption, i think
|
|
|
|
exstasie
Legendary
Offline
Activity: 1806
Merit: 1521
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 08, 2018, 10:16:35 AM |
|
Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?
It's not a matter of finding a solution, per se. Adoption and organic network growth happen spontaneously and over time. Sometimes growth is stagnant or linear; other times it's exponential. Bitcoin's built-in economic incentives appear to be solid, so as long as Metcalfe's Law keeps doing its thing, we just need to sit back and wait. An ETF doesn't matter. They're mostly just for traders and fund investors. It's safer and much more true to the original intent of Bitcoin to simply buy, hold and use BTC rather than bother with securities like ETFs.
|
|
|
|
|