Quote from: bitcoin_bagholder on April 26, 2015, 05:27:35 AM

Quote from: BitCoinMadness on April 26, 2015, 05:16:11 AM

Mass adoption is not happening because the bitcoin price/market capitalization is too low. If and when the price gets well into the thousands of dollars, then mass adoption has a chance. The price is having a hard time going up because it's still quite difficult for the average person to buy or take a long position in.

Sorry but that's not how it works. There's more adoption now at $220 USD than there was when it was +$1000 USD.

I agree there is more adoption now at $220 (now $215-ish) than there was when it was >$1000 USD. At $1000+, price was way ahead of itself (i.e. the amount of adoption at the time). Hence, price fell. Adoption is catching up (if not already caught up) to the current $220-ish price. Increased adoption and more adoption over time will stall out at some point (and arguably is slowing down, at least at the moment) if the price doesn't go up much from here.

The build out of the ecosystem and price go hand-in-hand, although you may not see that in the short term or even intermediate term. Price isn't the only thing, but it is a long term critical component to mass adoption. Don't kid yourself into thinking price doesn't matter.

BitCoinMadness

Posts

Merits