It is captivating for us all to witness the evolution of a DDC (decentralized digital currency) that has the ability and potential to change the financial world forever but there is a question that needs to be tabled properly for the purpose of awareness and well preparedness for the future and that is "is it possible for BTC to be accepted and adopted as a dominant currency in the nearest future".
We have all watched how both small scale and large scale businesses have started to accept the idea of bitcoin as a form of payment for good and services. Now the big major companies these days like TESLA for example are making big transactions with bitcoin making btc look viable and acceptable for exchange even in the future and we all know that this is only possible because they find it more easy and secure for their digital transactions with low transaction fee compared to the normal bank transaction system. But then how can we ignore that bitcoins journey towards being dominant means of transactions Is faced with challenges such as concern on price volatility. That aside several countries are still trying to steer how to regulate the cryptocurrencies and these actions can crucially impact the value/utility of BTC, well this is what i think.🤷♀️
What is your opinion on this topic?
I believe bitcoin has already gotten to that the stage your trying to Envisage, except for countries that have placed restriction on bitcoin if not, there is no place around the globe at the moment that you won’t see people making use of bitcoin or trying to have a conversation around it. If you compare the awareness bitcoin has gathered in last 10, you will realize that bitcoin is the future we are talking about.
Not only TESLA, I heard even Honda the car manufacturing company has started accepting payments in bitcoin too. The list will continue to go on and on endlessly.
Your talking about several countries trying to steer how to regulate the cryptocurrencies, that’s likely impossible because this currencies are decentralized and cannot be controlled by the government, at best they can only put some restrictions here and there, but there restrictions hasn’t changed the growth trajectory of bitcoin so far.