What will it take for crypto payment to go mainstream?

[john_cm]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

[covfefe_]

For payment people would love quick and cheap transactions. Universality is another big thing. It would not be fun if someone is using one coin and some other.
The best solution would be to create a robust platform that accepts almost all coin and let users to exchange form one another or to stable coin at any time or at the time of exchange. So that the sender can use any coin and the receiver can use any. They can even transact or keep their balance on either crypto or on stable coin.

[tyz]

Unfortunately, there are several reasons: Payments are still very slow and sometimes expensive. Recently it has happened again that Bitcoin transactions cost over $1 fees. This may be acceptable for transaction amounts of $1000 and more but not for small payments. In addition, more reasons are the much higher volatility and a certain basic technical knowledge of what you need to handle crypto currencies. Only when solutions to all these problems have been found crypto currencies will play a greater role in payments. Or, if people will be (indirectly) forced to use them, e.g. in the case of a devastating financial crash.

[mezzaluna]

There will be of course a lot of studies to be made for Cryptocurrency Payment to be mainstream. The cryptocurrency must be locally or internationally available within a country for it to be actually useful. The Cryptocurrency must also be usable for other features for it to be versatile because being only used in payment will be really lacking a lot of impact to the public.

[avikz]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

True! Crypto can go mainstream but at present state, Bitcoin can't. The reasons are simple - above average transaction fees and long confirmation time. These are two major technical bottlenecks. ETH is much more efficient as a payment method than bitcoin.

However, bitcoin community is also betting big on Lightning network development. Even though LN has gone live, it has not yet received the desired attention to make it big. There are technical and security flaws as well - some are discovered and being worked upon and some are yet to be discovered probably.

But above all, I believe regulatory matters are more important if we want to see mainstream crypto attention. Without regulatory support, it is impossible for cryptos to go mainstream.

[dimonstration]

For payment people would love quick and cheap transactions. Universality is another big thing. It would not be fun if someone is using one coin and some other.
The best solution would be to create a robust platform that accepts almost all coin and let users to exchange form one another or to stable coin at any time or at the time of exchange. So that the sender can use any coin and the receiver can use any. They can even transact or keep their balance on either crypto or on stable coin.

Apparently its only available in exchanges, there are no option yet that will let us pay in waht coins we wanted as some only available in most top coins like BTC and ETH, plus there will be a hassle in government in implementing some cash outs to pay in basic necessities that we are really paying monthly. Payment in terms of dealing with others or transferring money is truly easy and applicable via crypto but not yet in main bills that we are paying regularly.

[joshua123]

Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

How can you say not fit into other area? As far as I know bitcoin empowered a great peer to peer method for everyone. I know altcoins are good to, but what you want is impossible and people will always have space for bitcoin no matter how they support altcoins. I am betting many here have altcoins but majority of their portfolio still bitcoin.

There are some places in somr countries already accepting bitcoin and its only a matter of time before we can see it expand.

[jrrsparkles]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

Transaction fee and confirmation time highly depends on the network traffic so it will be eventually high if more transactions are made at the same time but no one ever said bitcoin is the only crypto suitable for payment, there are lot other cryptos as well so we can choose cryptos depends on the value of transaction but the real thing is people are ready to accept decentralized mode payment system.

[bigcash2011]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

Although we are moving towards this goal but to speed the process up, the potent stimulants include:
Regulatory approval of cryptocurrencies all across the world.
Investor and user condfidence in this tech.
Easy to use applications that make payments as easy as 1 or 2 clicks.
Ease of business and mass awareness to businesses and retailers about crypto and crypto payments.
No or low crypto taxation and simple rules to fill crypto tax.
Easy to use interfaces and member accounts. People do not like complex or technical looking paltforms so simplest apps needs to come up so that common man finds it easy to use.

[Dexion]

Transaction fee and confirmation time highly depends on the network traffic so it will be eventually high if more transactions are made at the same time but no one ever said bitcoin is the only crypto suitable for payment, there are lot other cryptos as well so we can choose cryptos depends on the value of transaction but the real thing is people are ready to accept decentralized mode payment system.

I am not sure it will be easily accepted by people all over the world. the problem is not only in transaction costs, but transaction speed as well.

at this time perhaps almost all countries also have platforms for payment in exchange for fiat money which we must carry on. like a digital wallet that we can use to pay for transactions. the question is whether the bitcoin or crypto function that will be used as payment can replace it even better than the platform that already exists and is used on the market?

[Greatchu]

The best crypto adoption I can think of is if thousands of merchants around the globe starts accepting not just Bitcoin for payment but also other top altcoins too, using coins as means of payment is the surest way

[masterrex]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

I think you are just focusing much on Bitcoin to be adopted to the mainstream, But as you said the hindrances are showing in front of us, like the slow and high transaction fees, etc, But if the Bitcoin Lightning network was push through I think it is much different scenario, Let's go to the larger picture cryptocurrency was already adopted in the mainstream for the cross border payment solution and it's Ripple's XRP in fact in my country it was already used for overseas remittances. the transaction is almost instant with lesser fees, thats why it's not hard to adopt it.

[bittick]

The best crypto adoption I can think of is if thousands of merchants around the globe starts accepting not just Bitcoin for payment but also other top altcoins too, using coins as means of payment is the surest way

that means the coins that will be accepted by these merchants must be very scalable to load a lot of transaction at the same. the key to make this happens was on the scalability of the blockchain.
Crypto payment is not yet going mainstream caused by there was a chance for the merchants to get a loss caused by volatility in the market.

[TimeTeller]

The best crypto adoption I can think of is if thousands of merchants around the globe starts accepting not just Bitcoin for payment but also other top altcoins too, using coins as means of payment is the surest way

that means the coins that will be accepted by these merchants must be very scalable to load a lot of transaction at the same. the key to make this happens was on the scalability of the blockchain.
Crypto payment is not yet going mainstream caused by there was a chance for the merchants to get a loss caused by volatility in the market.

If they will always use the reason of volatility, then it would be hard for them to integrate crypto.
Why not include stable coins if they are really concern about this volatility issue?
But if more merchants or shops will start to accept crypto, others will follow.
It is another avenue for them to earn income from crypto users, so I don't think it will take long for them to add crypto in their system.

[Ken_terrance]

We need many hybrid crypto-fiat payment systems, not just one, that will accept well recognized crypto coins as means of payment, these payment solutions will power both online and offline merchants, for example Wepay and Alipay kinda thing then crypto will reach it's full long awaited dream

[abel1337]

The best crypto adoption I can think of is if thousands of merchants around the globe starts accepting not just Bitcoin for payment but also other top altcoins too, using coins as means of payment is the surest way

That would be possible but the main thing that needs to be accepted worldwide is bitcoin, Bitcoin is the most trusted cryptocurrency in the world and It is much better than other altcoins in terms of the trust that people put into. Making bitcoin into the mainstream as payment will allow bitcoin to make itself more popular and everyday people will be curious and will make research about bitcoin.

There are altcoins that are suited for payment and a merchant choice, But having bitcoin first as the mainstream crypto payment will give way to the altcoins to introduce themselves in their own forte.

[OasisDre]

The best crypto adoption I can think of is if thousands of merchants around the globe starts accepting not just Bitcoin for payment but also other top altcoins too, using coins as means of payment is the surest way

that means the coins that will be accepted by these merchants must be very scalable to load a lot of transaction at the same. the key to make this happens was on the scalability of the blockchain.
Crypto payment is not yet going mainstream caused by there was a chance for the merchants to get a loss caused by volatility in the market.

If you think this way then you need to check out alchemypay, this is a fully functional crypto payment gateway that's already working in Asia countries, this project is creating a use case for Wider Cryptocurrency Adoptions Through Day-to-Day Payment With Crypto-monies at Businesses and Merchants, its already working

https://www.alchemytech.io/alchemy_english.html

[Samayuki]

The best crypto adoption I can think of is if thousands of merchants around the globe starts accepting not just Bitcoin for payment but also other top altcoins too, using coins as means of payment is the surest way

that means the coins that will be accepted by these merchants must be very scalable to load a lot of transaction at the same. the key to make this happens was on the scalability of the blockchain.
Crypto payment is not yet going mainstream caused by there was a chance for the merchants to get a loss caused by volatility in the market.

If you think this way then you need to check out alchemypay, this is a fully functional crypto payment gateway that's already working in Asia countries, this project is creating a use case for Wider Cryptocurrency Adoptions Through Day-to-Day Payment With Crypto-monies at Businesses and Merchants, its already working

https://www.alchemytech.io/alchemy_english.html

I know about alchemypay, this project will definitely help crypto mass adoption, through Alchemypay you can pay for taxi ride, hotels, etc, binance is definitely involved with this project and BUSD is playing a major role in alchemypay platform, sooner or later people will know this project more better

[Winscosinally]

AlchemyPay is developing well in the world, more than 80,000 members of the global community, more than 1,500,000 contracted reserve merchants, in-depth cooperation with Binance Binance, OKex, Gemini, Cobo and many more, saying merchants can be in loss because of volatility isn't a point, taking crypto as payment and convert to stable coin sounds impossible?? Well many merchants are already accepting crypto as payment through Alchemypay, even Bitcoincash is among the coins acceptable on alchemypay

[concept2]

Global adoption is necessary for bitcoin or any other cryptocurrency to go mainstream. Second, we need the acceptance from the government. At the world we are living right now, the government has the power to avoid people from using any kind of digital money. And as you can see, most of the presidents and government's officers do not really understand or pay their attention on new technologies unless they benefits their political career.

In my point of view, since our world become more and more developing, we are freely to interact with each other through the power of internet and it gives us the unlimited utilities to gather information, knowledge. Thus, people will soon face bitcoin and cryptocurrency and find out that they are really useful with a lot of advantages. In the next 10 years, I do believe that there will be at least one coin will go to mainstream and dominate out virtual world. 

[adzino]

-snip-

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

No, they do not need to "pivot" away from bitcoin. Just because it has some flaws, it doesn't mean that we will stop using it. Instead of running away from it, we can come forward and help develop it into a better thing. We can put forward ideas that will ease things for us but without causing much disturbance to the main protocols of bitcoin.

Again, those who knows about bitcoin will eventually learn of other altcoins. They will know when to use which coin.

[yhiaali3]

In fact this is true, Bitcoin needs a long time to confirm the transaction as it requires large fees and these are things that make a lot of people prefer to use altcoins like XRP, TRX, LTC, Dash because it is much faster and its fees are low compared to Bitcoin.
But I think this problem has been solved with the Bitcoin lighting network where fees have been reduced very significantly and the speed has become superior to altcoins as well but the Bitcoin lighting network has not been widely popularized yet.

[FireBallex]

In fact this is true, Bitcoin needs a long time to confirm the transaction as it requires large fees and these are things that make a lot of people prefer to use altcoins like XRP, TRX, LTC, Dash because it is much faster and its fees are low compared to Bitcoin.
But I think this problem has been solved with the Bitcoin lighting network where fees have been reduced very significantly and the speed has become superior to altcoins as well but the Bitcoin lighting network has not been widely popularized yet.

You are missing a point here pal, what do you think will happen to these altcoins if they are been used for means of payment around the globe? Their values will increase and also their transaction fees will rise, the more the value rise the more the transaction fees

[john_cm]

In fact this is true, Bitcoin needs a long time to confirm the transaction as it requires large fees and these are things that make a lot of people prefer to use altcoins like XRP, TRX, LTC, Dash because it is much faster and its fees are low compared to Bitcoin.
But I think this problem has been solved with the Bitcoin lighting network where fees have been reduced very significantly and the speed has become superior to altcoins as well but the Bitcoin lighting network has not been widely popularized yet.

That's the problem, the lightning network hasn't been fully accepted even among giant crypto payment gateways. strange though!

[Stanlo]

Everyone seem to be complaining about bitcoin transaction fee, what if LTC that have less transaction fee surge to where Bitcoin his today won't the transaction fee increase or become the same as Bitcoin today? Every merchants needs to start accepting Bitcoin and others, even stable coins, it's left for customers to pay in which ever coin they are convenient with.

[kindbtc]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

Crypto payments are nearly entering the mainstream phase as i have seen few local vendors accepting payments in crypto and secondly i have seen a surge in people that deal in crypto face to face atleast in my city which is also a sign of adoption because it means that people are buying, selling or exchanging crypto on a regular basis now.

[Doranile432]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

Crypto payments are nearly entering the mainstream phase as i have seen few local vendors accepting payments in crypto and secondly i have seen a surge in people that deal in crypto face to face atleast in my city which is also a sign of adoption because it means that people are buying, selling or exchanging crypto on a regular basis now.

Thanks for bring out this fact, I have friends in Singapore who actually confirmed that many stores and few merchants are now accepting cryptos as means of payment, things aren't perfect yet but it will take time, it's already happening, many part of the world aren't just noticing it yet

[hulla]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.
My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

I firstly want to point that crypto going mainstream is not what important here and whats important is that bitcoin fully its purpose during the current pandemic despite the world economy been affected.
Meanwhile, Bitcoin transaction fee is still okay compare to bank transfer or others electronic transfer (WU etc.) and with SegWit/lightning the bitcoin transaction confirmation is not that long.
With that been said, it's not hard for Bitcoin to go mainstream if the governments and institution support it all payment sector will add it to there payment system.

[Chuky92]

It might look difficult for crypto to go mainstream but it can still be achieved. Now making mention of Bitcoin not going mainstream, every things points to its slow transactions and all that but yet people still trust it more than others which are even faster. The truth is, many coins today can't be trusted; you made mention of stablecoins, but how many of them can be trusted? People can hardly bear to hold stablecoins for long time because of their centralized nature; as for other altcoins many of them might look like they have what it takes but yet they keeps lagging.
So in the midst of all these, it still comes down to the fact that Bitcoin is highly trusted and many people will feel more comfortable holding something ( a coin) they can trust over something with questionable characters, so in one way or the other, there might still be possibilities of Bitcoin going mainstream.

[Kasabus]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

Crypto payments are nearly entering the mainstream phase as i have seen few local vendors accepting payments in crypto and secondly i have seen a surge in people that deal in crypto face to face atleast in my city which is also a sign of adoption because it means that people are buying, selling or exchanging crypto on a regular basis now.

Thanks for bring out this fact, I have friends in Singapore who actually confirmed that many stores and few merchants are now accepting cryptos as means of payment, things aren't perfect yet but it will take time, it's already happening, many part of the world aren't just noticing it yet

There are no reasons that crypto payment won't go mainstream because everything will be in order and developed as soon as merchants will start accepting it as a mode of payment. It's high transaction fee and delayed confirmation will still be changed once regulatory measures will be part on it making it more legal and a global payment system.

[posi]

It not difficult for cryptocurrency to be mainstream of payment and with the lightning or the use of bech support slow transaction confirmation is not a problem. Besides, the performance of Bitcoin/others utilized coins in the market during this pandemic have make a lot of people/investors completely understand Bitcoin is a genuine asset even Kiyosaki was convinced.

The best crypto adoption I can think of is if thousands of merchants around the globe starts accepting not just Bitcoin for payment but also other top altcoins too, using coins as means of payment is the surest way

that means the coins that will be accepted by these merchants must be very scalable to load a lot of transaction at the same. the key to make this happens was on the scalability of the blockchain.
Crypto payment is not yet going mainstream caused by there was a chance for the merchants to get a loss caused by volatility in the market.

If you think this way then you need to check out alchemypay, this is a fully functional crypto payment gateway that's already working in Asia countries, this project is creating a use case for Wider Cryptocurrency Adoptions Through Day-to-Day Payment With Crypto-monies at Businesses and Merchants, its already working

https://www.alchemytech.io/alchemy_english.html

It the OP is not aware of the old and recent crypto payment system and the blockchain update done these days to make bitcoin transaction seamlessly. However, Alchemy is not only the project that widely supports cryptocurrency day to day payment and adoption.

[dunfida]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

I cant really deny but you do have valid points on here which is definitely true but to think that Bitcoin isnt really that forcing out to be a mainstream but only to the people who do mainly support it.
Adoption is still on the move though even there are lots of coins which are more better when in talks of fees and transfer time then you can eventually tell on which one is much more preferred by the whole community which is Bitcoin. Also we do know that LN do already exist, it might not be suggested for now but when this thing would be finalized out then it will surely fit out.

[StephenJH]

In fact this is true, Bitcoin needs a long time to confirm the transaction as it requires large fees and these are things that make a lot of people prefer to use altcoins like XRP, TRX, LTC, Dash because it is much faster and its fees are low compared to Bitcoin.
But I think this problem has been solved with the Bitcoin lighting network where fees have been reduced very significantly and the speed has become superior to altcoins as well but the Bitcoin lighting network has not been widely popularized yet.

l do agree with your words on that, BTC needs really long time to be confirmed by the whole world as a payment system. People are interested in using other altcoins for the payment system. The first reason is the fees of BTC, if we compare the fees altcoins to BTC, as you said fees are low and very useful than BTC. l think people will still prefer altcoins in the future for these reasons.

[goaldigger]

Businesses are considering the volatility of cryptomarket and maybe this is the reason why they still don’t want to adopt and we cannot blame bitcoin for that. Fees wise, cryptocurrency is a lot more cheaper and faster compare to the banks. So there’s still a chance for the main stream only if we can encourage more businesses to adopt and to search more about the benefits of cryptocurrency.

Crypto will go mainstream on different perspective, it might not be thru payment system but it can be into something that is more important, and that adoption will begin very soon.

[Hippocrypto]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

My ideas about that isn't contrary with yours mate, I just wanted to add some insights with the possible thing that might support with crypto payment to become mainstream. With our current situations particular with social distancing and other protocols to beat the pandemic of corona virus, cashless must be a recommended ways to prevent virus infection. Crypto is a form of digital currency, that's why using it as mode of spending should be practiced and it only needs government to implement this kind of evaluation for the benefit of many people.

[Aaroenz0r]

Businesses are considering the volatility of cryptomarket and maybe this is the reason why they still don’t want to adopt and we cannot blame bitcoin for that. Fees wise, cryptocurrency is a lot more cheaper and faster compare to the banks. So there’s still a chance for the main stream only if we can encourage more businesses to adopt and to search more about the benefits of cryptocurrency.

Crypto will go mainstream on different perspective, it might not be thru payment system but it can be into something that is more important, and that adoption will begin very soon.

I agree with you. It will take a lot of effort not only of developers but also investors and users to make cryptocurrency goes mainstream. You're right that the cryptocurrency market has a cheaper fee and faster in comparison to the banking system. We all agree that there are a lot of advantages. However, it will take a little bit more time for companies to work it out!

[Gayong88]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

It all depends on the value to be made on a transaction especially the method of payment with BTC, for the processing time of BTC payment / purchase transactions may be a little different from other altcoins.

[jessyj48]

Total embracement I guess, people should start implementing crypto payment in their businesses across the globe and also to avoid volatility the merchants and business owners should swap tokens and coins to usd coins instantly, it should work this way

[isaac_clarke22]

Well yeah high fee and long length before confirmation but still people use it primarily in terms of crypto payments.
I think adopters would probably use a third party payment system when it comes to these payment method.
That's quite fine for me as long as I can still use crypto for convenience.
I can use it as well in buying Steam credits using Bitcoin.

[john_cm]

Total embracement I guess, people should start implementing crypto payment in their businesses across the globe and also to avoid volatility the merchants and business owners should swap tokens and coins to usd coins instantly, it should work this way

The whole adoption thing will happen with Time. maybe soon, but we will definitely get there

[BayAngelo]

that is the reason for Altcoins. they serve the same purpose just like bitcoin. as a means of payment for services. bitcoin is limited and i don't think it can serve the entire world population. the need to have altcoins like ethereum, eos, neo and the rest is a reason for reason for cryptocurrency to go mainstream. the hindrance is centralization just like fiat currencies.

[Perfect35]

that is the reason for Altcoins. they serve the same purpose just like bitcoin. as a means of payment for services. bitcoin is limited and i don't think it can serve the entire world population. the need to have altcoins like ethereum, eos, neo and the rest is a reason for reason for cryptocurrency to go mainstream. the hindrance is centralization just like fiat currencies.

If I can understand what you mean as bitcoin is limited, you are saying that the total supply is not much. That is never a limitation. Smaller units of bitcoin can cost much and can be transacted. So I see no limitation in that .and it will go a long way to cater to the needs of the entire world when it comes to digital currency. However, we need a more scalable cryptocurrency.

[bgaf]

Total embracement I guess, people should start implementing crypto payment in their businesses across the globe and also to avoid volatility the merchants and business owners should swap tokens and coins to usd coins instantly, it should work this way

There are actually some who already implement on their respective business but as you can see not all are agree with its adoption there are still people who refuse to accept and thought of it as even as illegal and scam.

In my point of view, I can say crypto is good but some uses it on some scam projects and ponzi scheme. Because of these the crypto industry still have scars of those activities and people will have hard time to forget.

[andra73]

that is the reason for Altcoins. they serve the same purpose just like bitcoin. as a means of payment for services. bitcoin is limited and i don't think it can serve the entire world population. the need to have altcoins like ethereum, eos, neo and the rest is a reason for reason for cryptocurrency to go mainstream. the hindrance is centralization just like fiat currencies.

If I can understand what you mean as bitcoin is limited, you are saying that the total supply is not much. That is never a limitation. Smaller units of bitcoin can cost much and can be transacted. So I see no limitation in that .and it will go a long way to cater to the needs of the entire world when it comes to digital currency. However, we need a more scalable cryptocurrency.

current cryptocurrency perception is as an investment asset. We know all of our expectations on crypto that we can use legally for payment transactions. but for now, we can't do it for all items. only a few people accept transactions using crypto. and I think some too many people are cool to trade crypto instead of using crypto to buy other goods.

[MadeMen]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

One of the most important  characteristics of a currency is acceptability. It would be very difficult to take away bitcoin from the payment plan on cryptocurrency because  its widely acceptable, Infact bitcoin is the most popular cryptocurrency in the world presently.

[noorman0]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.

Keep in mind that currently not all countries legalize crypto as a means of payment. If we want to start a little mainstream, it is necessary to teach economic actors to expand their business areas to countries that legalize crypto.
Once they have felt the many benefits from it, the adoption of crypto is faster throughout the world.

[john_cm]

Businesses are considering the volatility of cryptomarket and maybe this is the reason why they still don’t want to adopt and we cannot blame bitcoin for that. Fees wise, cryptocurrency is a lot more cheaper and faster compare to the banks. So there’s still a chance for the main stream only if we can encourage more businesses to adopt and to search more about the benefits of cryptocurrency.

Crypto will go mainstream on different perspective, it might not be thru payment system but it can be into something that is more important, and that adoption will begin very soon.

it will be interesting to see what will drive crypto adoption in the coming years

[dataispower]

It's true that BTC take longer confirmation duration compared to some traditional mainstream transactions with FIAT. And nowadays, the fees are becoming too high, higher than the initial purpose for creating cryptocurrency. This is the more reason why most crypto enthusiasts see BTC as store of value, and prefer to use other crypto with faster transaction speed and lesser fees like XRP, XLM for payments. ETH used to have negligible fees in the past but recently things changed to the opposite. For crypto to go mainstream, these challenges need to be resolved for acceptability. Aside that, so many regulations need to be put in place inline with monetary policies.

[ZincUnrated]

The fastest way to achieving this will be for world economies and governments to pass regulations towards adopting cryptocurrencies as a way of transacting businesses. With such a backing, crypto and indeed blockchain will finally go mainstream to the satisfaction of everyone involved. Unfortunately, this is a difficult ask and task seeing how several countries are yet to come to terms with the fact that cryptocurrencies have come to stay.

[crustycrab666]

It's true that BTC take longer confirmation duration compared to some traditional mainstream transactions with FIAT. And nowadays, the fees are becoming too high, higher than the initial purpose for creating cryptocurrency. This is the more reason why most crypto enthusiasts see BTC as store of value, and prefer to use other crypto with faster transaction speed and lesser fees like XRP, XLM for payments. ETH used to have negligible fees in the past but recently things changed to the opposite. For crypto to go mainstream, these challenges need to be resolved for acceptability. Aside that, so many regulations need to be put in place inline with monetary policies.

In fact this is so, there are many coins that can be an alternative to transactions that are cheaper and faster than BTC. However, that does not necessarily reduce the value and functionality of bitcoin. There are still many crypto enthusiasts who choose bitcoin for transactions, sending funds, and other activities, because after all, there are many advantages of bitcoin in that case when compared to transactions using conventional money.

[tippytoes]

It's true that BTC take longer confirmation duration compared to some traditional mainstream transactions with FIAT. And nowadays, the fees are becoming too high, higher than the initial purpose for creating cryptocurrency. This is the more reason why most crypto enthusiasts see BTC as store of value, and prefer to use other crypto with faster transaction speed and lesser fees like XRP, XLM for payments. ETH used to have negligible fees in the past but recently things changed to the opposite. For crypto to go mainstream, these challenges need to be resolved for acceptability. Aside that, so many regulations need to be put in place inline with monetary policies.

I believe that is one major bottleneck for btc to go mainstream. The fees involved is quite expensive so most crypto users prefer btc as a store of value instead. And also, most merchants are still hesitant to add crypto or btc mainly because of its volatility. But because of this pandemic, there are several merchants looking at crypto to be included in their payment method. So just give it a time, and we will see more shops accepting crypto for their products and services.

[Rengga Jati]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector.

For now, the most reason why BTC is not good enough for common payment is yeah, the high transaction fee. However, Bitcoin is the most trusted crypto. If there should be a payment from crypto, many people will prefer to accept BTC because it is trusted and valuable enough compared to the other cryptocurrencies. Although in the crypto world, many people will not prefer to the BTC for payment because they know the fee. however, what's about the people or company out there? They probably only know BTC as the best crypto and most used crypto. Most of them only trust in the Bitcoin. And they only want to accept BTC. This can be a dilemma. However, the choice is on everybody's side.

[john_cm]

From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector.

For now, the most reason why BTC is not good enough for common payment is yeah, the high transaction fee. However, Bitcoin is the most trusted crypto. If there should be a payment from crypto, many people will prefer to accept BTC because it is trusted and valuable enough compared to the other cryptocurrencies. Although in the crypto world, many people will not prefer to the BTC for payment because they know the fee. however, what's about the people or company out there? They probably only know BTC as the best crypto and most used crypto. Most of them only trust in the Bitcoin. And they only want to accept BTC. This can be a dilemma. However, the choice is on everybody's side.

That's right. a lot is going to change is Bitcoin fee is slashed to a few cents. But then, one would imagine what will be the fate of the mining network should mining become unprofitable and unsustainable due to low fees and continues halving. First, a lot needs to be done about mining costs. The system is totally messed up.

[Pegiz]

no, I think all the same that bitcoin is the number one cryptocurrency, but even bitcoin cannot become mainstream because it requires general recognition.

[aemma]

Actually it is true that bitcoin have a high transaction fee and slow transactions confirmation but something still stand and that is, despite all these it is still regarded as the best payment crypto or preferably the most trusted crypto. Also, there have been many crypto platforms that aims to go mainstream in the payment sector but still struggling behind, then what's causing the delay? I won't say it is bitcoin but the team of that coin/project. Thus, I think that, Bitcoin is not stopping any crypto from going mainstream in whichever sector, if the team of any Crypto payment project are serious about it, then let them work towards achieving their goals.

[Genemind]

People see crypto as an investment tool, and not to mention the number of merchants accepting cryptocurrency as payment is quite a few due to its volatility. If people can pay cash they would opt to than to spend their crypto since they value it as an investment.