Lately, I have not been hearing much about Bitcoin, other than media mentioning that the value is decreasing. In addition, the transaction volume processed by payment gateways is also decreasing. I feel that adoption has come close to a standstill. What is your opinion about this?
I think we should look at benefits of Bitcoin for merchants, to increase the active circulation. For example, bitcoin is a cheaper alternative to debit- and creditcards as merchants have to pay less interchange fees. Therefore we should contribute as a community by helping merchants to implement this system in their store. Merchants could possibly attract customers by giving discounts for paying with Bitcoin. What is your idea for progressing adoption of Bitcoin?
It is true that trading volume of Bitcoin is very low compared way back 1-2 years ago but it doesn't mean that adoption will stop here. Its just a matter of time and people will have a confidence of entering the market again. Good idea about merchants but we all know that a lot of merchants, especially the big ones are still not ready to adopt it and use it in their service, and it is because of the price is highly volatile. We don't have to force the mass adoption to take place, it will just happen one day when people realizes how Bitcoin can improve their businesses and the benefits of using it especially that people right now are buying goods more frequently thru online.