We all want cryptocurrencies to gain value. But we do not use them as a currency in our daily lives. I think this is a big contradiction.
This I think is not a contradiction but I think its a dilemma as its worth pointing out that even if you have a huge amount of crypto but doesn't know a shop in your own locale who accepts it, then its worthless as a buying medium. I think merchant adoption must coexist with an increasing number of end users to balance the equation on crypto adoption! If only I could find a local convenience store in our place that accepts cryptocurrencies then I would gladly use it to buy goods, etc.
Here are some prerequisites which I think must occur first before a mass adoption scenario of cryptocurrencies could take place. Some of them are listed below as follows:
1. People needs to be more acquainted about cryptocurrencies.
2. They should have the means to acquire it either doing work or offering services.
3. Merchants must embrace cryptocurrencies and accept them as a means of payment.
4. Governments and other institutions supports the use of cryptocurrencies.