Post
Topic
Board Bitcoin Discussion
Re: Which one is better for bitcoin future? Mass adoption or huge price increase?
by
South Park
on 27/11/2016, 17:38:00 UTC
Mass adoption is extremely important to Bitcoin. Right now, Bitcoin has not asserted it position in people eye's yet because there is still a majority of the people who do not care about bitcoin. In about 10 or 20 years later, I hope that more people are willing to learn and to understand the Bitcoin as well as all of its benefits. If that truly happens, Bitcoin will soon be an international currency and the increasing of the Bitcoin price will be an obvious result for this mass adoption
The bitcoin's price would increase as soon as bitcoin is accepted globally, but i am afraid that confirmation time will be a huge problem for bitcoin as payment processor, ultimatelly people especially sellers prefer to use a faster payment method, imagine if you stand on line at supermarket and people pay with bitcoin, they still need to wait to confirm the transaction before they have what they want to buy. It will take much time waiting for confirmation.
In my opinion confirmation times is one of the greatest and current problem with the bitcoin network, but if more people adopted bitcoin, I think more investors would get interested in setting up mining rigs and that could help alleviate the problem for some time.