Quote from: Pursuer on September 01, 2018, 06:46:19 AM

Quote from: Sexie on August 31, 2018, 01:43:22 PM

Just amazed about the situation of bitcoin nowadays, despite of the decreasing price of cryptocurrencies still more countries are now ready to adopt bitcoin.

a "country" is not adopting bitcoin, unless they throw away their fiat and use bitcoin as their national currency which is not happening.
what is happening though is that people are adopting bitcoin because it is useful and then the country regulates its usage to prevent chaos and illegal activities. and people aren't adopting bitcoin because of its price, they are adopting it because of its utility. the "price guys" are speculators that come and go, they don't shape the long term.

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Could it be really possibly eliminate the middlemen? Please share your opinions.

yes of course! when you use bitcoin you are doing exactly that. but it is not killing the middlemen like banks for example because again banks are providing utilities and because of that they are still used.

It is hard to see bitcoin replacing "the middleman" which are the banks. It would mean a total
overhaul in the world financial system, i just cannot see it.

Even from a society point of view, how would anyone access financial support if there were no
banks to issue loans for education, transport and housing? How do we change the trust that
we put in banks?

If i want to send my kids to college this year and i dont have the finances to do it there is the
option to get a bank loan but there is no bitcoin bank. Society wants to progress and the FIAT
banking system is interwoven into this idea.

The vast majority of people are happy to follow this system and dont realise there is a system
which offers an alternative to part of that system while we here in this space have chosen to
remove some of the trust from the FIAT system.

No country has adopted bitcoin as a currency to date while a few have recognised it as something
which can be used as a payment system by a small percentage of their population (for now)