I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.
Would the world adopt cryptocurrency as a means of transaction, what do you guys think?
Crypto currencies? Highly likely. Bitcoin as one of them? Highly unlikely. Bitcoin has various drawbacks right now to be using it as a means of making day to day transaction. Imagine you are going to your work in the morning. On you way, you decided to grab a cup of coffee. You go over there pay using bitcoin and then you have to wait like more than 10 minutes for your transaction to be confirmed before receiving your coffee. Waiting for like more than 10 minutes for just a cup of coffee is quite unreasonable.
Though there are other altcoins that confirm within few minutes. Those are perfect for using it as a traditional currency.
I hope the lightning network will spread quickly and address this long time issue. This has always been the issue ever since. How are we to spend our Bitcoin if it is very inconvenient to use? You cannot just waste time waiting for several confirmations for just a cup of coffee. Or pay a fee which as high as the cost of the cup of coffee itself. But this issue has been dealt with and hopefully addressed very soon.