When Will Bitcoins Reach Their Tipping Point and Become Widely Adopted?
Bitcoin is certainly most developed and accepted cryptocurency from a widespread of cryptocurrencies on the market today. Day by day, Bitcoin is increasing its adoption rates in different places of online business.
Great number of people already accepted Bitcoin as a valid method of payment through peer-to-peer transactions without common troubles with money exchange adjustment. Besides that, more and more people see an opportunity to generate revenue through trading with BTC.All types of online businesses are adopting Bitcoin as a trustworthy method of value transaction. For an example, even few years ago, University of Nicosia, based in the capital of Cyprus, offered their students Bitcoin as a way of paying tuitions and other fees.
Also, they are one of the Universities that offered a course in cryptocurrency trading, which means that Bitcoin already became integrated part of world economy.One of the biggest retail businesses online, Amazon, is considering including Bitcoin as a method of payment, while Purse.io already designed an app which will give you an opportunity of indirect buying Amazon products with BTC, starting with January, 2017. Microsoft already opened to Bitcoin in some parts of their online retail, while Dell in the cooperation with Coinbase, included Bitcoin back in 2014.
These are only some of the examples of great global companies that accepted Bitcoin, and there will be even more opportunities for Bitcoin to become one of the regular ways for people to pay for goods or transact money.When it comes to reaching Bitcoin’s tipping point, nobody can tell for sure which time would that be, but it is certain that there are at least couple of years up ahead before that moment.
Some concerns were made about Bitcoin mining capacity and it is certain that in some future time network will mine the final, 21 millionth coin, but there are already some valid suggestions of ways in which this problem can be resolved, mostly through including small fees per transaction, which will allow miners to continue creating profit. There have been numerous predictions of Bitcoin’s fail, but none of them were correct.By now, it’s obvious – Bitcoin is here to stay.
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BTC is here to stay but, in my view, as a store of value. Digital gold is what it is.
I look for LTC or another to act as the money. Do not underestimate Charlie Lee implementing atomic swaps to his platform. This will make it a seamless transition from BTC to LTC and to other currencies.
It is going to be really interesting to see what ends up as the success stories.