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Author Topic: Do you think that cryptos such as Bitcoin would be mainstream?  (Read 707 times)
dewin
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November 18, 2019, 02:24:26 PM
 #101

Well, this is possible, but it will be serious changes so the time is needed for such crypto adaption. On the other hand there are more and more places where BTC payments are accepted, but for mainstream acceptance we have to wait a bit. Maybe some of you don't know, but New Zealand is the first country to legalize salary payments in cryptocurrencies (BTC). I think that is huge step forward.
senne
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November 18, 2019, 02:33:57 PM
 #102

Bitcoin has inbuilt deflation which means that the supply is limited but the demand can very well increase. Whenever the supply and demand are not in proportion, price changes. In this case, price is likely to go up with increasing demand and limited supply.
Because of this people have incentive on holding the bitcoin instead of spending it on day to day transactions when there is a fiat alternative available which has inflation and will lose the value the next year.
I believe that Bitcoin can go mainstream but not as a currency but as an investment. 
ice098
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November 18, 2019, 03:48:30 PM
 #103

Well, this is possible, but it will be serious changes so the time is needed for such crypto adaption. On the other hand there are more and more places where BTC payments are accepted, but for mainstream acceptance we have to wait a bit. Maybe some of you don't know, but New Zealand is the first country to legalize salary payments in cryptocurrencies (BTC). I think that is huge step forward.
Its been 10years since bitcoin is created , still it is not yet in the mainstream, many factors needed to be consider before we can see the bitcoin there. Also, goverment will be one of the main reason why , they did not legalize it until now , maybe yes it is good for us because there will be no tax for us.
tbterryboy
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November 19, 2019, 09:14:51 AM
 #104

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 am thinking that Bitcoin and cryptocurrencies will only go mainstream when the government changes the system. If the system should remain fiat , a lot of people will still prefer to make use of the fiat system and refuse to use crypto. Or maybe everything will be step by step - maybe as time goes on a lot of people will start to recognize Bitcoin and cryptocurrency in general and how good they are and then will they start to adopt it.

Though one thing that discourages me about people adopting Bitcoin or cryptocurrencies is the fact that it is being viewed as an investment. When it's being seen as an investment then there will be lack of much interest and those that joins will only come to just make money expecting bull run and once they have that, they will quit.
haufranco
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November 19, 2019, 09:17:36 AM
 #105

sooner or later there would be another chain for sure  Huh
cosmicrays
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November 19, 2019, 02:44:41 PM
 #106

Yes, bitcoin will remain the king of the crypto market, it is unlikely that any other coin will be able to compete with it.
Palider
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November 19, 2019, 03:53:56 PM
 #107

There is a great potential, especially now that people are becoming more aware of the latest technologies, emerging and constantly increasing to help us, In our work I believe bitcoin and other altcoins can be used as well as alternative payment online, in-store purchases and much more. As more and more people acquire crypto knowledge I'm sure there are many companies, store owners will be making a way for them to keep up with the latest payment methods.
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