Mass Crypto Adoption Is Coming Quicker Than We Think
There is a lot happening. We often do not see what is taking place. In this video I discuss 3 articles I came across just today which tell us mass adoption could be happening over the next couple years.
Here are the articles mentioned in the video:
https://finbold.com/florida-welcomes-the-states-first-credit-union-that-offers-crypto-services/
https://finbold.com/over-90-of-u-s-businesses-accepting-crypto-see-revenue-grow-data-shows/
https://beincrypto.com/three-quarters-of-us-retailers-expect-to-accept-crypto-in-two-years/
▶️ 3Speak
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a mass adoption in 2 years it seems how soon there are many people who still don't know about this wonderful crypto world. First, and it is my personal opinion, we must try to make everyone know us and at the same time try to attract a middle-aged audience, since young people know it very well.
Ease of use is going to be important for that.
However, there are a lot of Gen X involved in crypto. Merchants accepting it as payment will only add more users.
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Can't wait for this to happens, even though ut will come with some challenges.
These generation are nir much of a crypto elite except for the youth, if we want a massive adoption sooner, healthy knowledge on how to use crypto can be a solid starting point.
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Having merchants accept it will be a big help.
There are a lot of avenues to crypto adoption. We just have to keep filling them.
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That's a great news! It's definitely going that route. Businesses have to adapt or else.
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Yes they will. The question is what businesses come out and join the party before the mainstream adapts.
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That's right, those who see the opportunity earlier will sure benefit enormously.
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Early adopters always have advantages. They also put up with headaches.
After all, being a trailblazer is not easy.
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That's right but they are greatly appreciated though.
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I also have been seeing the signs of adoption everywhere, not sure when it hits prices, but either way it reminds me to remain bullish, even in a down cycle.
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I am more optimistic than bullish. The latter is a term related to the markets and price is not relevant for adoption.
What is key is utility that comes from development. After all, even the best companies like Apple and Amazon get crushed during a bear market.
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Yeah, you are right.. that is a better way to put it.
Optimistic works.. and use cases equal demand, so price follows when markets are strong.
That is always where my focus is. Markets can be fickle as we know. Much of it is the overall sentiment so good projects get lumped in.
We have no control over that anyway. What we do have control over is what we do. That is why Hive is so powerful, we can make a difference.
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The development within the next two years then will be very interesting! While policymakers are busy with their idea of regulation, businesses are listening to the market and are now pouring out funds to build the necessary infrastructure for mass adoption. That’s a big “wow!” that businesses consider opening their doors to crypto as useful for the market to view their brands as “cutting edge.”
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That is true. What we are doing it looking to build in spite of them.
We need to keep pushing the concept of decentralization and distribution. This is something that I think is well established in the minds of people on Hive.
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Yes, I believe so.
It's pretty cool what's happening. I just set up some of my photography prints at an art gallery that will be accepting crypto for payment, as well as selling some of my NFTs that will be on display via a Metasill frame. I'll be posting a bit more about it tomorrow. Cheers!
There are a lot of opportunities opening up. It is grand to witness.
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Indeed. The new gallery owners are friends that have been involved in the crypto world for a few years now and have done well, I'm thrilled that they recently bought the gallery and are moving it this direction.
That is how it spreads.
Use cases added one by one. Which each new application like that, others will see it. Over time, it hits critical mass.
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I need to get the gallery owners on hive... Their very first sale today was one of my prints and I'd prefer my payment from them in HBD :)
Building a use case for HBD. Very nice.
Yes I agree, get them on Hive. When the communities feature gets really going, it will be a great way to enhance their offerings.
They can really stand out talking about their gallery business and all that goes into it.
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I'll do my best! They have a lot going on right now but when the timing is right in a few days or so, I'll send them an invite...
Despite the massive valuations of bitcoin, ethereum, and a handful of other cryptocurrencies, the data suggests that there is much more room for growth. With each passing year we are seeing new developments come out of the space and capture the minds and pocketbooks of people all over the world. NFTs have taken the Philippines by storm, and the bitcoin lightning network is in use by the people of El Salvador for day-to-day transactions, for example.
Without a doubt. We have not even begun to see the network effects within cryptocurrency. The numbers we saw are rather small compared to what is out there in the traditional financial system.
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The more reason why this traditional financial system is trying everything possible not to fade off. I mean take the ECB for example rivaling the blockchain technology by trying to have its own coin too , CBDC and they claim crypto is child's play. Jokers!
That is a bit faster than I expect but I guess having someone else control the keys for you might make it easier for people to transition.
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A part of the learning curve they can overlook.
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Hopefully crypto will make central banks and government meddling obsolete. That's my dream. !CTP
Well the reality is that the international banking system really controls the money. Governments and the central banks are just noise.
Watch what the bankers are doing if you want to know what is taking place.
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i think most the population sees crypto as utterly useless still. i think after huge government regulation yes we may began to get more adoption but as for now i still think the story to hold crypto is rather weak. Most people i'm in contact with still don't even hold it or see any reason to use it. that tells me crypto isn't solving any major problems.. companies and institutions with the exception of a few don't even hold it on their balance sheets. so once again this sounds like just a guestimation it's no solid urgency or utility.
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Summary:
In this video, the speaker discusses how mass adoption of cryptocurrency is rapidly approaching. He highlights three key articles that indicate significant progress towards mainstream acceptance of cryptocurrency. The first article mentions a credit union in Florida that has launched its own crypto-related services, including buying and selling Bitcoin, without relying on third-party applications. The second article reveals that over 90% of U.S. businesses accepting cryptocurrency have seen revenue growth. The final article states that a survey of 2,000 executives shows that three-quarters of U.S. retailers plan to accept crypto within the next two years. The speaker emphasizes that these developments are crucial for expanding crypto usage to the masses.
Detailed Article:
The video starts with the speaker's excitement about the increasing momentum towards mass adoption of cryptocurrency. He mentions that while specific statistics on the growth rate of the crypto market are not detailed in the video, he focuses on the impactful headlines and articles he has come across, leading to his optimistic outlook on the future of cryptocurrency adoption.
The first article discussed is about a Florida credit union, Achieva, becoming the first in the state to offer crypto services like buying and selling Bitcoin. The speaker emphasizes the significance of this move as it shows that traditional institutions like credit unions are taking steps to incorporate crypto services independently, without relying solely on third-party providers. This move is particularly notable for Florida, given the popularity of credit unions in the state, suggesting a potential domino effect leading to further adoption.
Moving on, the speaker delves into the second article which reveals that over 90% of U.S. businesses accepting cryptocurrency have experienced revenue growth. This demonstrates the tangible benefits that businesses are seeing by embracing crypto payments, tapping into a new market of wealth created within the crypto ecosystem. The speaker underscores how this integration of crypto payments allows businesses to access a pool of money earned through avenues like DeFi applications, expanding their revenue streams.
The final article discussed pertains to a survey showing that three-quarters of U.S. retailers anticipate accepting crypto within the next two years. This revelation further solidifies the trend towards mainstream acceptance of cryptocurrency within the retail sector. The speaker emphasizes that such widespread adoption by retailers not only offers more use cases for cryptocurrency but also introduces the concept to a broader audience, potentially accelerating mass adoption.
The speaker concludes on a positive note, expressing his confidence in the trajectory towards mass adoption of cryptocurrency. He envisions a future where cryptocurrency becomes increasingly integrated into various business models and payment systems, driving further mainstream acceptance. Overall, the video presents a hopeful narrative of how cryptocurrency is steadily moving towards broader adoption and utility in everyday transactions.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.