If bitcoin ever goes mainstream

[Trading]

If bitcoin was real mainstream (10% of people holding it) its price would had been going up like a missile in the previous one or two years. As more and more people was aware of its growing value, more and more people would rush to it, dumping fiat.

Gresham's Law says that people will hold/hoard the strong currency (bitcoin) and will dump the weak one (fiat) like hot potatoes. That would devalued fiat even more in front of bitcoin.

Perhaps, fiat would still survive, but it would be like fiat versus gold coins in times of inflation of fiat. No one would want to have their savings in fiat. Everyone still holding fiat for the long term would be ruined.

It's because of this (and other things stated on the OP) that I doubt governments will allow bitcoin to go mainstream. They will have to try to ban it (they won't be able to real destroy it, but will force bitcoin to return to the margins of the Internet) before this happening, forcing wealth to stay away from it.

[armansolis593]

I think if Bitcoin goes mainstrem (and it is going already btw) the fiat will stay anyway. There always will be situations when it is more convenient to use fiat and I think there is nothing wrong with that.

yeah I think it's not a problem. many people are too scared if bitcoin become mainstream then bitcoin will take over fiat, it's simply not true. Fiat will be like usual

There will always be people to use fiat on their daily lives,not all people have mobile phones that have bitcoin in them so fiat will still be used.

[fkvidar]

I think if Bitcoin goes mainstrem (and it is going already btw) the fiat will stay anyway. There always will be situations when it is more convenient to use fiat and I think there is nothing wrong with that.

yeah I think it's not a problem. many people are too scared if bitcoin become mainstream then bitcoin will take over fiat, it's simply not true. Fiat will be like usual

There will always be people to use fiat on their daily lives,not all people have mobile phones that have bitcoin in them so fiat will still be used.

That's true especially the illiterate people will find it easy to use fiat and not bitcoin, as they might find using bitcoin complicated even if bitcoin gets on mainstream.

[simonloff]

I don't think anyone will be ruined if bitcoin goes mainstream, it would be a very gradual process and almost everyone would be part of it, Bitcoin would still be linked to fiat by a price I think.

[honeyhtet]

I think that a lot of people here only want Bitcoin to become mainstream so that their investment will increase in price and be sold thereafter to make profit, not because Bitcoin is innovative and cool.

[richmcrich]

I think Bitcoin will go mainstream as the change has started, you can not just see the speed of change it is much more faster than we imagine, I think Governments as well as bankers are failed to stop Bitcoin in last couple of years so I think bitcoin is incoming to the financial world.

[KoinKartel]

I think that it will be take long for it to be used as regular money.

In fact, regular money took long to be used in its electronic version. I still know people that do not trust much on online bank transfers and payments. Due to Bitcoin being full online, well, it will take some time.

I am happy if it is a way to store value for some time.

I don't think even after Long time it will happen. Very difficult to replace the existing currencies with Bitcoin.

Bitcoin will coexist with existing currency for a long time.

Very true

Bitcoin has to coexist with fiat currencies, at least for the time being

because its actually fiat currencies that allow bitcoin to be valuable since, currently, the blockchain is mainly being used as a payment rail to facilitate transmission and transfer of value

The value being transferred can be anything... Fiat, property titles, etc

Without fiat currencies, bitcoin itself wouldn't have a USP that easily appeals to the average joe

[Wendigo]

If Bitcoin goes mainstream that will be a good thing because it will be accepted not only by big stores all over the world but by all kinds of smaller shops like grocery stores, hairdressers, laundromats etc. Consumers will have the choice to pay with their fiat or Bitcoin funds and that will help to bring the prices down and I hope there will be discounts for paying with Bitcoin for example.

[aardvark15]

I could see a scenario where bitcoin is accepted just like credit cards, paypal, and debit cards sometime in the near future.  I think it's very likely to happen within 10 years or so.

[Nimbulan]

I could see a scenario where bitcoin is accepted just like credit cards, paypal, and debit cards sometime in the near future.  I think it's very likely to happen within 10 years or so.

thats the thing i seem to imagine too because im pretty sure bitcoin will be accepted by most people in ten years

besides that i think that the price will go through the ceiling and we will reach something like 10 k dollars per btc

[Ardenyham]

I don't think it will be like this, If bitcoin goes mainstream enough then people would get plenty of opportunities to join in since it won't be a surprise but a gradual process, IMO everyone is getting an opportunity to join bitcoin.

[BitMaxz]

I think bitcoin is nearly mainsteam and it will happen sooner because we see more stores online accepting bitcoin as payment and they are increasing month by month.. I hope it will be the mainstream in the future if they develop more on bitcoin..

[ATguy]

If Bitcoin goes mainstream that will be a good thing because it will be accepted not only by big stores all over the world but by all kinds of smaller shops like grocery stores, hairdressers, laundromats etc. Consumers will have the choice to pay with their fiat or Bitcoin funds and that will help to bring the prices down and I hope there will be discounts for paying with Bitcoin for example.

More likely Bitcoin goes mainstream if it become common for people to get paid in Bitcoin instead in Bank account. Long way from there, but its fine considering Bitcoin is not readdy yet for any higher usage because of capacity problems.

[fkvidar]

If Bitcoin goes mainstream that will be a good thing because it will be accepted not only by big stores all over the world but by all kinds of smaller shops like grocery stores, hairdressers, laundromats etc. Consumers will have the choice to pay with their fiat or Bitcoin funds and that will help to bring the prices down and I hope there will be discounts for paying with Bitcoin for example.

More likely Bitcoin goes mainstream if it become common for people to get paid in Bitcoin instead in Bank account. Long way from there, but its fine considering Bitcoin is not readdy yet for any higher usage because of capacity problems.

I think bitcoin has full potential to get on mainstream as it is getting more and more popular day by day and we will see many users using bitcoin as a currency.

[vrm86]

If Bitcoin goes mainstream that will be a good thing because it will be accepted not only by big stores all over the world but by all kinds of smaller shops like grocery stores, hairdressers, laundromats etc. Consumers will have the choice to pay with their fiat or Bitcoin funds and that will help to bring the prices down and I hope there will be discounts for paying with Bitcoin for example.

More likely Bitcoin goes mainstream if it become common for people to get paid in Bitcoin instead in Bank account. Long way from there, but its fine considering Bitcoin is not readdy yet for any higher usage because of capacity problems.

I think bitcoin has full potential to get on mainstream as it is getting more and more popular day by day and we will see many users using bitcoin as a currency.

I doubt, if majority of bitcoin users treat BTC as regular mean of payment. I'd rather say, that most of people give a try with investing and gambling.

[poupatudo]

i hope someday it will happen,bitcoin very mainstream and popular,the future payment must be like this,simple and fast.

[Akupuniard]

If bitcoin goes mainstream i think nothing will change. People will just start using bitcoin more than usual thats all.

[poupatudo]

I'm sorry if it sounds pessimistic but I don't think there's anything guaranteeing mass mainstream adoption. Sure it might and it it does go there it will take several years but part of me just thinks most of the general public just has no need or desire to use bitcoin so the mainstream will largely avoid it. I thiunk it will still have its niche uses online and in some industries but will remain relatively underground still. I hope to be wrong though.

[Mr. Big]

I'm sorry if it sounds pessimistic but I don't think there's anything guaranteeing mass mainstream adoption. Sure it might and it it does go there it will take several years but part of me just thinks most of the general public just has no need or desire to use bitcoin so the mainstream will largely avoid it. I thiunk it will still have its niche uses online and in some industries but will remain relatively underground still. I hope to be wrong though.

Your Idea is atleast realistic...bitcoin might really be known thru out the world, but mostly it's entire life would stay in online transactions..Even if it's adopted by many..

[sanadas]

I think that a lot of people here only want uᴉoɔʇᴉq to become mainstream so that their investment will increase in price and be sold thereafter to make profit, not because uᴉoɔʇᴉq is innovative and cool.

For ordinary people like us, we would like the price to be high and make some profits. We do not understand the technology.