Why Isn't Bitcoin Mainstream yet? Is Something Wrong? ft Cedric Dahl
After existing for more than a decade now, Bitcoin is yet to reach the same level of mainstream adoption as other technologies such as tablets and smartphones.
Why is that? That's what we discuss in this video, and Cedric Dahl shares a very interesting perspective on the matter.
►► Link to my favourite 1000x episodes: https://louisthomas.krtra.com/t/HLfW7ShGqsoQ
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
▶️ 3Speak
More than 80% of Bitcoins are already mined and owned before the majority of the world even understands what it is. That is a major hurdle for Bitcoin adoption if you ask me and will continue to be in decades to come! And Litecoin and other alts aren't that different. This is why I promote SwiftCash! It's almost 1 year old and if you count its history it's more than 2 years old! And still only below 2% of max is mined and it's going to take more than 500 years to reach its maximum supply! After 12 years, it's gonna be like 10% of its max! Compare that to Bitcoin which is over 80% of its max in less than 12 years! Huge difference...
I think you are spot on with your post.
I think people are not ready (yet)
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Because doing a bitcoin business must have special abilities, namely the ability to speculate and gamble. This ability is not having by everyone. Have a nice day, sir.
@louisthomas I think that everything that has made its way into mass adoption it will take a minimum of 15 more years. I remember my 1st computer in 1995 that I could afford which was $300 and now my cell phone is more than that 25 years later @ almost $800. And thats not to mention the computer had only been "mainstream" for about 15 years at the time in 1995. So in 10-15 more years I believe the adoption will spread, and in 15 years "our 10 year olds now" will be using it then. Also the magnitude of Bitcoins implementation amongst all financial sectors and slowly creeping into the Governmental and Political sphere..... all I see is the precursor to the next piece of technology that will be bigger than Facebook, Amazon, Microsoft and Apple combined is because Bitcoin will reach an extra 3-4 Billion people who aren't even in the market at the moment. Just my thoughts...
Despite having so much time, even people have a hard time assimilating it, for example, in the case of Venezuela, when you talk about this issue, many people see it as an illegal, strange business or as if it were a lie.
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Bitcoin is getting mainstream. Governments are trying to ban it they fail big companies are trying to get in this. It is just the beginning it’s just an one decade, by the way I think the real journey is started in 2017 and from that point everyone’s eyes is on this market even if you are talking about government or big players
I am also an investor, can we discuss it together, my whatapp+85251290766
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I agree with Cedric Dahl's assessment. The point about open source projects having a different kind of adoption curve sounds valid, in my opinion. The main use case for Bitcoin seems to be a hedge instrument on the financial markets, and not a payment system. Without second tier solutions there is no way Bitcoin will ever become a mainstream payment instrument. For that reason, there is no reason why Bitcoin could not become very valuable before reaching any kind of mainstream adoption, or rather, mainstream adoption would not mean adoption by a large majority of people in the case of Bitcoin.
By the way, do use the #steemleo tag. Your videos are about investing, which is what the SteemLeo community is all about.
Interesting discussion, I also think why bitcoin is still not mainstream, you know the confirmation of transactions that take a long time and other things that have been improved on several other alternative coins.
Even I have the same Question for a long time. I see a lot of news which are bullish for Bitcoin. But I don't see them getting implemented like the Bakkt and so on. Yes this takes time but we are now like a cat on a wall , the cat can fall on either side. This is an important period for crypto, This period will decide what bitcoin's future will be.