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Author Topic: Cryptocurrency Adoption: A Breakthrough?  (Read 661 times)
AndySt
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November 04, 2020, 11:30:40 PM
 #61

I don't think so
Moreover, I can't even fathom your logic behind this assumption. Bitcoin mass adoption as a means of payment would naturally increase the demand for Bitcoin, and given that there are only so many bitcoins in existence (read, supply cannot rise), it will necessarily bring about higher prices. In a nutshell, you can't get around the law of supply and demand, which is going to hold in this case. With that said, it is still unlikely that people are going to use Bitcoin specifically as a medium of exchange en masse
Bitcoin is not such a convenient medium for small daily payments as other alternative coins, so I think that Bitcoin is definitely in danger of being introduced as such, and many people on this forum are sincerely mistaken about this. Therefore, the near future for bitcoin will continue to develop as an asset for accumulation and speculation for financial and exchange traders and players in the vast majority of cases. Also, bitcoin can serve as a means of transfer for relatively large amounts in a small number of cases.
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November 05, 2020, 03:09:31 PM
 #62

Although cryptocurrency adoption may be a groundbreaking investment it's not popular in many countries. They think Bitcoin may be a lot of risk so it'll take time to develop. This method is followed to stay the amount of block inventions unchanged. The greater the resolution of the hardware the greater the complexity of the issues following this method the amount of exposed blocks in bitcoin mining is kept unchanged. Hardware with of processing power is required to unlock the blocks.
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November 05, 2020, 03:37:14 PM
 #63

Thing here is, if we force bitcoin adoption, it will ultimately whittle down the coins price because of the endless cash-in and cash-out that the people will do once the coin becomes adopted by the public. This means bad news for the people who are here to invest on bitcoin, especially those who have already spent thousands of dollars and are expecting a gain from it.
Bitcoin is not really made for investment purposes its for decentralisation of transaction payments and to have a advance way of transferring money form one to another. But since it's still on it's early stage, early adaptors will have the benefit of to be able to make it as a investment that can be make gains whenever adoption happens.

Since then bitcoin always been like this, being treated as venue of investment more on being use as payment transactions, seeing the potential there many people who are enjoying the current situation.

With how it's moving now there are many new investors that following this industry, chances  still have it's full potentials to gained decent
amount of money with this ongoing breakthrough.

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