"Crypto is no longer in the early adoption stage"

[TheGreatPython]

“Crypto has now gone mainstream. We have double-digit percentage adoption in both developed and developing countries. We even have Bitcoin adopted as legal tender in a country and many other countries are considering adopting Bitcoin as legal tender.”

I cannot agree both bitcoin has entered into mainstream and main stream adoption is the indication of early adoption stage. Early adoption phase is something we cannot figure out with the help of price level nor age of bitcoin. Because, if you consider 10% of peak value and life time of bitcoins then I guess we are still into the early stage of bitcoin ecosystem.

Because in my speculation, I am expecting bitcoin to value around one billion dollars and may serve human race for another 10 to 20 centuries. So, we are not even 1% of those parameters.

Moreover, mainstream cannot indicate that we had passed early adoption phase of bitcoins. In my view, main stream adoption is needed to end the early adoption.

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[Coyster]

“Crypto has now gone mainstream. We have double-digit percentage adoption in both developed and developing countries. We even have Bitcoin adopted as legal tender in a country and many other countries are considering adopting Bitcoin as legal tender.”
Bitcoin has also become a very common investment, as a number of large companies such as Microstrategy have invested in these assets.

I do not quite agree that many countries are looking to adopt Bitcoin, I know these countries are well aware of the benefits and advantages of Bitcoin, but unfortunately they are not going to adopt the technology, because it's decentralized and they cannot control it, and many of them already have plans in motion to launch their CBDC, and they have this erroneous conception that for their CBDC's to thrive, then they have to attack the progress of Bitcoin in their country.

As a result of the pandemic, Bitcoin became more popular amongst institutional investors who are looking for assets that can be a hedge to fiat currencies that are currently struggling with inflation and devaluation, but that doesn't make Bitcoin an asset that has attained mainstream adoption, I honestly believe it will, but it still has quite a long way to go before mainstream adoption becomes a reality.

[bitgov]

The cryptocurrency industry started with the launch of Bitcoin in 2009 and then flourished in the following years with various assets and blockchain-based solutions. According to Stephen Stonberg, CEO of Bittrex Global, this is no longer in its infancy.
“I think we’re already past the stage of crypto early adoption,” Stonberg told Cointelegraph adding:
“Crypto has now gone mainstream. We have double-digit percentage adoption in both developed and developing countries. We even have Bitcoin adopted as legal tender in a country and many other countries are considering adopting Bitcoin as legal tender.”
Bitcoin has also become a very common investment, as a number of large companies such as Microstrategy have invested in these assets.


Source: https://cointelegraph.com/news/crypto-is-no-longer-in-the-early-adoption-stage-bittrex-global-ceo-says

In a situation where many governments still ban cryptocurrency trading, we cannot say that Bitcoin has ended the "early stage of adoption". There is still a lack of automated, user-friendly micropayment applications. We will be able to talk about the end of the "early stage of adoption" when Bitcoin (or preferably at least a few cryptocurrencies) will be a globally accepted means of payment. Just because someone is thinking of accepting Bitcoin as legal tender doesn't mean it will happen.

[Snappycoco]

USA is in fact almost at the bottom and Nigeria is the king in terms using and having even 1 crypto so I believe we are still early in this space.

Loool, the joke of the year... Usage? Where in Nigeria is this usage we're talking about that puts USA to shame??


Maybe in the LN network?

United States
Capacity 1,024.480212410 BTC (45.012%) $47,444,754.34 Node Count 1,273 (8.99%) Channel Count 18,315 (28.35%)
Nigeria
Capacity 0.003562530 BTC (0.000%) $164.98 Node Count 3 (0.02%) Channel Count 3 (0.00%)

It must bein the companies investing in Bitcoin then, too bad I haven't heard from on Nigeria company doing so, numbers of ATMs, a number of nodes, hashrate, where is the usage you're talking about?
One example of how Nigeria mops the flor with the USA on usage? One!

I was referring from this article made by yahoo.finance https://tinyurl.com/c7zd7c6e. They got their data's from statista which I cannot find first hand. I somehow agree that USA has the most BTC but still most of them are whales not regular citizen. We are talking about popularity and utility and not total btc volume by country due to the difference of economic status between the two.

[haidil]

Hard to see altcoins adopted because a city like Miami even created its own coin. It's an example of the adoption of an altcoin but not really the existing one.

Bitcoin will be more adopted than an altcoin because it's more popular and it's a store of value as a use case. Other altcoins has its own use case for their own community. Today we still consider altcoins as shitcoins.

You're right, for Bitcoin will be more of a more liberal system of legal payments within a country, Maybe altcoins don't play that wide role. Miami has not fully implemented the concept in a comprehensive way, but it is possible that Miami can implement all of it smoothly even though it requires a process of public acceptance and support from the government that really wants Bitcoin adoption.

[geegaw]

The cryptocurrency industry started with the launch of Bitcoin in 2009 and then flourished in the following years with various assets and blockchain-based solutions. According to Stephen Stonberg, CEO of Bittrex Global, this is no longer in its infancy.
“I think we’re already past the stage of crypto early adoption,” Stonberg told Cointelegraph adding:
“Crypto has now gone mainstream. We have double-digit percentage adoption in both developed and developing countries. We even have Bitcoin adopted as legal tender in a country and many other countries are considering adopting Bitcoin as legal tender.”
Bitcoin has also become a very common investment, as a number of large companies such as Microstrategy have invested in these assets.


Source: https://cointelegraph.com/news/crypto-is-no-longer-in-the-early-adoption-stage-bittrex-global-ceo-says

In a situation where many governments still ban cryptocurrency trading, we cannot say that Bitcoin has ended the "early stage of adoption". There is still a lack of automated, user-friendly micropayment applications. We will be able to talk about the end of the "early stage of adoption" when Bitcoin (or preferably at least a few cryptocurrencies) will be a globally accepted means of payment. Just because someone is thinking of accepting Bitcoin as legal tender doesn't mean it will happen.

Don't need a full support to go to the next stage, crypto just needs to be issued and acknowledged by the top centers and countries to have a good result, their promulgation and publication is more valuable than the sum of many small countries as a whole but the first stage of acceptance is still being vehemently rejected. For too many years, only a few basic laws were proposed and small recommendations were made in multilateral and multinational talks, it can be said that this is a very deep level of the first stage, but the second step has not been formed yet

[Bravehash]

For bitcoin, it can be a yes.

I agree to @myleschetty.

The crypto market is still quite young because of the new trends that are keep coming from it. We remember NFTs that they're there for years yet their time has come just this year.

And there are other things to come in the market as new.

NFT shouldn't be put aside with BTC, they are far different from eachother and I believe it's possible that NFT time can pass as well just as DeFI did in 2020 to me BTC will still be the last man standing

[jaberwock]

The cryptocurrency industry started with the launch of Bitcoin in 2009 and then flourished in the following years with various assets and blockchain-based solutions. According to Stephen Stonberg, CEO of Bittrex Global, this is no longer in its infancy.
“I think we’re already past the stage of crypto early adoption,” Stonberg told Cointelegraph adding:
“Crypto has now gone mainstream. We have double-digit percentage adoption in both developed and developing countries. We even have Bitcoin adopted as legal tender in a country and many other countries are considering adopting Bitcoin as legal tender.”
Bitcoin has also become a very common investment, as a number of large companies such as Microstrategy have invested in these assets.

We all knew that this is where it is headed to. Microstrategy has been one of the biggest names to invest in Bitcoin, and more are still coming, I know that for sure. Even around last week there was another big institution that also invested their money in bitcoin, but I can’t remember the name of that company.

As the times goes on we are going to see more and more of them coming. For individuals that wants to invest, now is going to be the right time to start investing, because these institutions are buying in bulks, if you don’t buy your own now, in years to come the price of bitcoin is going to be really high.

[Silberman]

Ah, one man's opinion.  The 12 years that bitcoin has been around might seem like a long time, especially for people in their 30s or younger, but in the grand scheme of things it really isn't.  Personally, most people I know in the real world don't invest in or use bitcoin for anything at all, which leads me to believe that adoption isn't as advanced as the article would have us believe.

True, progress has been made in the past couple of years at a rate that probably exceeded the previous 10 years combined, but I still think of bitcoin (and crypto in general) as a new asset class and something that hasn't had all the kinks worked out of it yet.  Plus with all of this regulation and attention from governments, who knows what the crypto space is going to look like 10 years from now.  It could be pretty bleak, though I'm hoping it doesn't turn out that way.

Agreed, maybe we are close to be out of the early adoption stage but that does not mean that bitcoin is now mainstream, we are headed to the beginning stages of an early majority but it is going to take time for this to materialize, however I think we are on the right track but we need to stop with this wild optimism, it is going to take at least another decade or two before we can use our bitcoin in the stores and no one raises an eyebrow, and personally I am fine with that speed of adoption.

[kayiboyu]

Exactly, cryptocurrencies have left the early adoption stage behind already. This market has been standing still for more than 10 years. Cryptocurrencies (especially Bitcoin) are being adopted at a good pace now. Bitcoin is the leading cryptocurrency in this. It's being adopted by many people and companies. And government policies also help Bitcoin start being used by more people.

[Hippocrypto]

That's right, many people use bitcoin but bitcoin is not yet legalized in many countries, and many people have no idea about bitcoin there is a lack of adequate knowledge that's why bitcoin in the early stages due to the high demand for bitcoin many countries are legalizing it. They are considering introducing cryptocurrencies, so bitcoin may come out of its early stages very soon even if there is a legal tender it will not be able to interfere in bitcoin the number of users being added to the project is increasing.

Technically it's not legalized because it has not been regulated by government, and nobody could do that due to  it runs within a node. The existence of it was through Blockchain technology, and I believed demand increase once there's adoption that's rising. They enter during that stage, but suddenly experienced crashing when market saturates.

[jossiel]

Exactly, cryptocurrencies have left the early adoption stage behind already. This market has been standing still for more than 10 years. Cryptocurrencies (especially Bitcoin) are being adopted at a good pace now. Bitcoin is the leading cryptocurrency in this. It's being adopted by many people and companies. And government policies also help Bitcoin start being used by more people.

Bitcoin is in good state lately and the market itself.

We've crossed again the $2T market cap and if it stays there and makes a long time being stabilized at this market cap.

People will now see the importance of buying at the dip and will realize that because they've doubted before, they'll think that they're late.

[Princejebs]

Exactly, cryptocurrencies have left the early adoption stage behind already. This market has been standing still for more than 10 years. Cryptocurrencies (especially Bitcoin) are being adopted at a good pace now. Bitcoin is the leading cryptocurrency in this. It's being adopted by many people and companies. And government policies also help Bitcoin start being used by more people.

What will be the description of your second statement if bitcoin should have remain where it dump to during covid-19 and its yet to recover. It sound somehow to me how everyone praise bitcoin, probably is the nature of human when going becomes sweet, they change tune. 
Bitcoin has really been a wonderful financial freedom where everyone has free will to buy any quantities they feel like holding without any restrictions. The gain has been awesome to some extent though, it would have been a disaster for people who bought at the top and sold everything at $30k

[arallmuus]

Dont you think that we will be getting to the stage of 'mass adoption' after the 'early adoption' ?

-snip  Everyone seems to have their own definition of what that actually means in practice.  Speaking in terms of early majority/late majority/etc is more measurable.

Sounds fair.

It doesnt mean alot coming from a third world country like El Salvador

That sounds a little dismissive.  Small steps lead to bigger things.  And it's generally safer to start small.  Nothing like this has ever been done before, so why would you want to risk doing it on a massive scale?  I genuinely prefer that it has unfolded this way.

Yeah its literally a ripple effect and we probably need like atleast 5-10 years for these to take effects though. If somehow this turned out to be a pretty good decision for El Salvador then there will be alot of countries that might follow their steps. At the same time this also means threats to some countries because those countries that started to adopt bitcoin might stop using US dollar or Euro. Pretty much like a double edge sword

In terms of 'adoption', this is probably the biggest that we've had so far though so Im not complaining at all

[Vaskiy]

Exactly, cryptocurrencies have left the early adoption stage behind already. This market has been standing still for more than 10 years. Cryptocurrencies (especially Bitcoin) are being adopted at a good pace now. Bitcoin is the leading cryptocurrency in this. It's being adopted by many people and companies. And government policies also help Bitcoin start being used by more people.

Bitcoin is in good state lately and the market itself.

We've crossed again the $2T market cap and if it stays there and makes a long time being stabilized at this market cap.

People will now see the importance of buying at the dip and will realize that because they've doubted before, they'll think that they're late.

We've crossed the $2T and this time it is alll because of the altcoins that has pumped high within a short time period. Maybe this can go even high in the upcoming days. My mind feels like the altcoins season have begun. Bitcoin gets slowed down for some time period. Right now users who invested big on altcoins at the bottom will be enjoying the profits out of the trillion market.

[Kakmakr]

I think the early adoption for Bitcoin was delayed, because it was fighting for legitimacy in most countries. It was the explorer in new territory for all other Crypto currencies. The early adoption phase for other Alt coins will be much shorter now, because most people are familiar with the concept of Crypto currencies. 

Bitcoin might be past the early adoption for the technology as a "Commodity" ....but it still has to pass the hurdle, namely government acceptance as a "Currency" ...to be 100% out of the early adoption cycle. 

[awik p]

Exactly, cryptocurrencies have left the early adoption stage behind already. This market has been standing still for more than 10 years. Cryptocurrencies (especially Bitcoin) are being adopted at a good pace now. Bitcoin is the leading cryptocurrency in this. It's being adopted by many people and companies. And government policies also help Bitcoin start being used by more people.

Bitcoin is in good state lately and the market itself.

We've crossed again the $2T market cap and if it stays there and makes a long time being stabilized at this market cap.

People will now see the importance of buying at the dip and will realize that because they've doubted before, they'll think that they're late.

We've crossed the $2T and this time it is alll because of the altcoins that has pumped high within a short time period. Maybe this can go even high in the upcoming days. My mind feels like the altcoins season have begun. Bitcoin gets slowed down for some time period. Right now users who invested big on altcoins at the bottom will be enjoying the profits out of the trillion market.

right, when bitcoin's movement slows down, many investors will switch to buying altcoins. This is when the altcoin party begins. but we must be observant in choosing potential altcoins, so that we will be able to find altcoin bullrun moments on the tokens we have

[cabron]

So many had disagreed though. Since Mike Saylor said BTC still is very cheap as of today and we are still in the early stage, I think the adoption is just starting. Only a few countries still are using Bitcoin and US law about taxing crypto is still debated.

The price is predicted to go up to $100K this year, I'm sure it's going to be surprising for the countries that had a chance to adopt BTC today but did not.

[dupee419]

Ah, one man's opinion.  The 12 years that bitcoin has been around might seem like a long time, especially for people in their 30s or younger, but in the grand scheme of things it really isn't.  Personally, most people I know in the real world don't invest in or use bitcoin for anything at all, which leads me to believe that adoption isn't as advanced as the article would have us believe.

True, progress has been made in the past couple of years at a rate that probably exceeded the previous 10 years combined, but I still think of bitcoin (and crypto in general) as a new asset class and something that hasn't had all the kinks worked out of it yet.  Plus with all of this regulation and attention from governments, who knows what the crypto space is going to look like 10 years from now.  It could be pretty bleak, though I'm hoping it doesn't turn out that way.

Just like what @The Pharmacist said, crypto is definitely still in the early stage, we do have to agree with the fact that Bitcoin did hit a lot of advancements, the value has grown big, but in a span of 12 years, Bitcoin is still young and I do think it has a lot of years to go for before it really hits the advanced stage, alongside with other cryptocurrencies in the market, I wonder how much of an advancement Bitcoin will take in the future, after 10 or 15 years.

[RealMalatesta]

I cannot agree both bitcoin has entered into mainstream and main stream adoption is the indication of early adoption stage. Early adoption phase is something we cannot figure out with the help of price level nor age of bitcoin. Because, if you consider 10% of peak value and life time of bitcoins then I guess we are still into the early stage of bitcoin ecosystem.

Because in my speculation, I am expecting bitcoin to value around one billion dollars and may serve human race for another 10 to 20 centuries. So, we are not even 1% of those parameters.

Moreover, mainstream cannot indicate that we had passed early adoption phase of bitcoins. In my view, main stream adoption is needed to end the early adoption.

It is about being known or heard, when you are at an early adoption stage that means there are many people who do not know about it, but right now bitcoin is not at that stage, you may or may not have some people who do not know about it at all, but that number is very low right now, 90%+ of the world heard about it, probably closer to 95% of the people as well.

I am not saying that many people have bitcoin, I am just saying that those people are aware of it and that is the important thing, people should be just aware of the fact that crypto exists and we are already beyond that. This is why I agree that we are out of early adoption stage, we are still not at the advanced levels, we are still getting adopted everyday in many places, but it is just not early, it is probably beyond-early or something, I do not know what it could be used, it is not further ahead, it is still early but just not too early like it has been 2-3 years ago.