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Author Topic: Do you think that cryptos such as Bitcoin would be mainstream?  (Read 710 times)
YinminzCrypto (OP)
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November 11, 2019, 05:56:46 AM
 #1

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?
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November 11, 2019, 06:45:37 AM
 #2

There are endless possibilities since future events are unpredictable. As of now, I really think it's still in its early stages. Full adoption would still happen sooner, if negativity would not escalate along the way. However, since its market volatility, and Bitcoin is not an unstoppable thing, there's still some chance that things would go the other way, if opression by the government and several negative news such as usage to illegal activities, it might affect Bitcoin's image and its future.
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November 11, 2019, 06:57:13 AM
 #3

I think it's possible but it takes time for other countries to accept crypto as a means of payment. plus technological advances that could potentially change the method of manual transactions to digital transactions

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November 11, 2019, 07:21:17 AM
 #4

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?


I would say that that is a certainty at this point. The adoption and expansion of cryptocurrencies around the world has been on a constant rise for years now. It advances slowly, but it advances. New regulations are coming out all the time in various countries, and more and more merchants are getting encouraged to start accepting crypto. There are still some technical problems to deal with, such as scalability, as well as the volatility of crypto prices, but yeah, give it 5-10 more years, and I think you would be able to use BTC or some other coin to pay for most stuff online, as well as for most stuff in general, in some of the most crypto-friendly countries. It might take longer for technologically-underdeveloped countries, or anti-crypto regions, but that all remains to be seen.

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November 11, 2019, 07:35:00 AM
 #5

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

It depends on the mainstream population, I believe that are a lot of people that don't really see it as possible payment option due a lot of the issues that also make it pretty attractive to other people.

If we are able to solve these issues we might see a future for bitcoin and other crypto currencies as a feasible payment method.

-Votality (no one wants to pay 0.01 for something and then BTC changes prices, although other cryptos fix this)
-Mainstream Adoption
-Instant payment confirmations

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November 11, 2019, 07:48:28 AM
 #6

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?


that might happen but not in a short time because now some governments in the country haven't really inaugurated bitcoin or other crypto to make transactions, even with things like that but I'm sure in the future crypto will have the same role as currencies paper (fiat) used by the community for their daily needs, and if all that happens in the future it might be very helpful to make it easier for the community to transact.

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November 11, 2019, 08:02:59 AM
 #7

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?


The world already adopted crypto as a means of transaction. You want to see? Go to localbitcoins.com and see how many countries are listed there;) I guarantee far more countries in the world accept Bitcoin than they do most other national currencies,,, or even if they do, like my own national fiat, the price is so bad I never sell except in my own country. But Bitcoin? same price almost everywhere if not higher!

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November 11, 2019, 08:09:11 AM
 #8

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?


only bitcoin in one form or another (LN), as the rest of the coins could be around only because the current technology allows them. altcoins are not really needed for much, and a proof of that is that there is no serious project that ever became realized, out of all the altcoins

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November 11, 2019, 08:21:56 AM
 #9

BTC to me is already reaching peak levels of popularity in terms of awareness. However, the amount of people that really need such instrument in their daily lives is limited. How many people can carry the risk of holding something that fluctuates so much in value? Finance as we know it isn't made to allow the vast majority of the population to take financial investment risks. It's something most people simply can't afford. On the other hand, micro-investment is becoming more and more common these days. We might see an increase in the number of people that own crypto in the following years, although that could be through custodianship via third parties.

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November 11, 2019, 08:29:18 AM
 #10

I think crypto can be best alternative for fiat but cannot be used in terms of daily transactions even if it becomes mainstream because of volatility as not everyone will be familiar with fluctuations. I feel stable coins can be used for daily transactions since it does not fluctuates like other crypto.
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November 11, 2019, 08:33:56 AM
 #11

Bitcoin is unique, and most people cannot understand how a virtual asset can have real value. But what is value? Denomination it in terms of a valueless asset such as the US dollar, just distorts mass perception. The interesting development to watch is the proposed gold backed Chinese "crypto" currency.

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November 11, 2019, 08:39:07 AM
 #12

Impossible to happen, for bitcoin... It's already gotten too much bad attention (in the form of it is only used for drug operations or money laundering), and like many other people have said, a lot of the features just don't allow this to be possible.

Although, an interesting option would be ETH. A lot of the programming and new tokens that are done on the platform make it an interesting business platform, and a lot of its features like fast confirmations could lead itself to be seen in real-life scenarios.

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November 11, 2019, 09:22:11 AM
 #13

As for me, that wouldn't be too impossible to happen. We all know how surprising crypto is so it has a huge capability to reach even the developing countries in the future. Lots of countries are now accepting bitcoin and other cryptocurrencies in different transactions so it simply means that it's growing each day which could bring it to the mainstream. We only need more adoptions so more people and countries would choose it as a mode of payment.
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November 11, 2019, 09:24:11 AM
 #14

That is possible but I am guessing there will be a long time frame before the global adoption of cryptocurrency will happen. Also it will co exist with fiat. We are slowly using btc and eth in daily transactions what's lacking is the additional adoption from the people in the third world country.
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November 11, 2019, 09:43:39 AM
 #15

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?
Of course, cryptocurrency is considered as currency which has the eligibility/capability to become an alternative option for payments when having a transaction.

It is possible if they don't think the same way as China.
China adopted only blockchain technology and not included bitcoin.

BTW it is eth not etc.

[/quote]
Impossible to happen, for bitcoin... It's already gotten too much bad attention (in the form of it is only used for drug operations or money laundering), and like many other people have said, a lot of the features just don't allow this to be possible.

Although, an interesting option would be ETH. A lot of the programming and new tokens that are done on the platform make it an interesting business platform, and a lot of its features like fast confirmations could lead itself to be seen in real-life scenarios.
Fiat currency is also being used in illegal activities, bitcoin was known due to bad usage of it but I don't think that it will become impossible for it to happen due to this reasoning. Their mindset can be changed if they realize and understand its true function.

ETH is really a good option, no questions about it. But there is a lot of consideration that should happen first before it happens, like regulations when creating new crypto using smart contracts.

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November 11, 2019, 09:59:27 AM
 #16

Possible but far from reality. First, not all governments will adopt cryptocurrency because it's decentralized. Second, not everyone can understand blockchain technology and won't take the risk to adopt it. Third, due to its volatility, it would be hard for bitcoin to be used in everyday transaction because the price are not stable at all.
Zimbabwe are slowly adopting it because of their economic crisis, people are looking for an alternative. Though bitcoin and crypto can still be adopted by other countries, only as an alternative currency but not as a main currency.
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November 11, 2019, 10:20:49 AM
 #17

Of course yes, it's only a matter of time. I am not saying that Bitcoin or Altcoins will someday replace fiat money, but they will definitely be recognizable and acceptable by mainstream. It's enough that one of the big mainstream companies will start accepting Bitcoin and then the domino effect begins. I've heard that Starbucks is interested in accepting Bitcoin, so maybe it will be launching a Bitcoin mainstream adventure.

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November 11, 2019, 11:30:53 AM
 #18

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

Using blockchain technology yes its possible to use it in daily life wait for 5 or 10 years and you will see the differense of online transaction using now and compare to that time. I am not telling it is BTC or ETH there must  be a crypto currency built for every country on that time.
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November 11, 2019, 11:57:05 AM
 #19

Impossible to happen, for bitcoin... It's already gotten too much bad attention (in the form of it is only used for drug operations or money laundering), and like many other people have said, a lot of the features just don't allow this to be possible.

Although, an interesting option would be ETH. A lot of the programming and new tokens that are done on the platform make it an interesting business platform, and a lot of its features like fast confirmations could lead itself to be seen in real-life scenarios.

nah, if bitcoin does not make it, eth and others will not make it either...hell, eth network got destroyed with only one cryptokitties app

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November 11, 2019, 12:18:03 PM
 #20

Majority of governments all around the world are showing zero tolerance towards cryptocurrency since they believe it will take financial control away from them. Let's hope something good comes out very soon so that BTC along with other CC will be used in mainstream payment system.

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