Is it possible for bitcoin to ever get to the level of becoming a generally accepted means of payment?
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Is it possible for bitcoin to ever get to the level of becoming a generally accepted means of payment?
Bitcoin is slowly easing into a generally accepted legal tender. You can now shop on most online stores with your bitcoins. Even some educational institutions now accept bitcoin as a means of payment. Honestly if you ask me, I’d say bitcoin is already at that stage. The countries that are yet to blend into the advancements of bitcoin are very little and by the time they see how it is in other regions, I am sure they will blend in.
It’s very difficult to pinpoint what could lead to the general adoption of Crypto. It’s a completely unfettered market and that’s exactly what makes it interesting and different than the regular currency. So, to begin with, if more merchants are willing to accept the transactions in Cryptos, sure! It’d be all over, in no time. Also, the Govt has to give a go ahead. But it’s quite unlikely that the regular currency would be replaced anytime soon. Adoption of Cryptos doesn’t seem to be happening anytime soon. They’re too volatile to be accepted as a stable currency!