The promise of Virtual currencies

[moonshot797]

The way I see it, consumers don't like to carry cash so much these days, more so pay an ATM withdrawal fee to access their own money. Plastic cards that offer benefits and incentives are achieving high adoption rates and Mobile payments are just a cool new way to pay.

Bitcoin needs to have a way to seamlessly integrate into the existing financial ecosystem so that people can easily use it and have a solid reason to spend their bitcoin rather than hold on to it.

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[Willitivity]

Virtual currency's have actually contributed a quota to the world economic system with regards to payment structures and systems. As the move towards online transactions and purchases increases, the need and use of virtual currencies become imperative. With more adoption coming along the way, Bitcoin could see more application in day-to-day transactions and purchases.

[Darooghe]

I'm hopeful about Cryptocurrency, and right now Bitcoin is the only real token to hold. the true capabilities of Cryptocurrency are barely comprehensible. For me it's the ability for transactions of immutable value to be made across the globe instantly and direct. Right now if you think about how you make payments today, they all include a third party to function, even if you consider cash withdrawal from your bank account. Being able to send directly allows not just individuals, but entities and even software to interact with and control units of value.

Once we understand this we can start building use cases that have never been possible before with the backing of the global internet networks, beyond just the Cryptocurrency network.

[Yamifoud]

Virtual currency's have actually contributed a quota to the world economic system with regards to payment structures and systems. As the move towards online transactions and purchases increases, the need and use of virtual currencies become imperative. With more adoption coming along the way, Bitcoin could see more application in day-to-day transactions and purchases.

The economic system of the US knows what is the capability of crypto and how it possibly make  change from fiat money to digital form crypto.
Yes, we are in the adoption of a new system and ain't no wonder why the US very conscious of this possible change cause it will devalued their dollars sooner and they don't want it to happen. There is something they need to prevent it and if we take a look, most promising countries never accept crypto just like China and the US.

[Darker45]

Virtual currency's have actually contributed a quota to the world economic system with regards to payment structures and systems. As the move towards online transactions and purchases increases, the need and use of virtual currencies become imperative. With more adoption coming along the way, Bitcoin could see more application in day-to-day transactions and purchases.

The economic system of the US knows what is the capability of crypto and how it possibly make  change from fiat money to digital form crypto.
Yes, we are in the adoption of a new system and ain't no wonder why the US very conscious of this possible change cause it will devalued their dollars sooner and they don't want it to happen. There is something they need to prevent it and if we take a look, most promising countries never accept crypto just like China and the US.

That is certainly a huge factor in terms of giving crypto the green light, it affects their very own national fiat currency. Moreover, nations cannot just give them a go because these cryptocurrencies are not created out of their own rules and terms. There is always the possibility that nations will accept Bitcoin and other cryptocurrencies openly but it might not happen that it will become their main currency. If these nations will shift to cryptocurrency 100%, expect that it will not be the existing cryptocurrencies we have today. They will surely be creating their own. China is already showing this.

[glendall]

cryptocurrency has the advantage of low transaction costs, and fast because there are no special requirements that must be met, different if through a bank that takes days and many requirements.
and this is the reason why cryptocurrency will become a virtual currency that is so promising in the future. if the speed of bitcoin is the same as the speed of sending money through ATM, then I'm sure cryptocurrency is preferred by the public over FIAT.

[Rufsilf]

cryptocurrency has the advantage of low transaction costs, and fast because there are no special requirements that must be met, different if through a bank that takes days and many requirements.
and this is the reason why cryptocurrency will become a virtual currency that is so promising in the future. if the speed of bitcoin is the same as the speed of sending money through ATM, then I'm sure cryptocurrency is preferred by the public over FIAT.

We know it was a great deal for crypto but it was just supposed to see use not only for an online transaction, we would like to see it also usable into offline transactions. That US restriction against crypto is what to be one factor that could change crypto dissemination. They are influential in terms of the economic system which might be able to decline other cryptos rather than creating their own if this digitalization system will grow and acceptable to the public.

[Kyraishi]

Pretty interesting stats, even if it is just 0.001% of all transactions, we've seen quite a lot of volume when it comes to using BTC, and keep in mind, 0.001% of the transactions in the US is still a huge number, for sure.

Remember that this is only for “US” means we take the .001% so what more if we add the other countries or should I say Continents?specialy Europe and Asian countries?this can be more even higher so this stats shows how large Bitcoin reached just for more than 5 years since this stats isn’t for 2016 when we reached the hype in 2017 ,if the stats recorded year after surely it’s more larger

Are these stats only counting retail as purchases made by cryptocurrencies in person? Or do these also count transactions online from big brands (eg, buying a computer of newegg for BTC), or using purse.io to buy items of amazon?

I think this is the overall stats sine US will not release records that is incomplete

Decent step to adoption, but a lot more needs to be done before we can reach a higher percent.

Well we must see also the world record to attract many investors if they saw the success of cryptocurrency and not just Bitcoins

That's true, I'd put the US in the middle for bitcoin adoption, hasn't had the best regulations, but still has a lot of people who use and spend BTC, I'd definitely estimate some other countries like Singapore or Japan to have over 0.1% of all transactions be crypto-based, especially with projects like Pundi X making such a huge impact in Singapore.

I think we'll need to see a lot more investments and companies that are willing to take BTC, and then give it some time and consumers will be interested in paying BTC.