Cryptocurrency and Mass Adoption
In 2017, the amount of brick-and-mortar retailers accepting cryptocurrency grew by 30.3% to over 11,000 retailers globally. This pace is expected to pick up in 2018 to over 20,000 retailers.
As the following infographic from https://net-cents.com (via TheVisualCapitalist) points out, there are major hurdles still facing the space before we can even begin to discuss mass adoption throughout the world. Regulation, taxes, volatility, transaction fees, etc being just a few of them.
They point out mainly 3 major challenges:
Price volatility
In 2017 alone, the Bitcoin price fluctuated between $1,000 and $20,000. Big swings in price make it unattractive for day-to-day transactions. (EOS can solve this via smart contracts, e.g. bitUSD)Slow transaction times
The average confirmation for Bitcoin takes about 20 minutes per transaction right now – but during past stretches of activity (such as in Jan 2018), it got as high as 41 hours. (EOS solves this with under 1 second confirmation times for blocks)High transaction fees
The average transaction costs around $1 right now, but just months ago, the average Bitcoin transaction costed $40. (EOS solves this with FREE transactions)
Pretty easy to see why EOS is headed higher...it solves a lot of the fundamental problems people see with blockchain technology. The word just needs to get out.
I am Lord @matthewwarn and I have Stackitis...but there are worse problems to have in life...
To invest in Mene24k Gold Jewerly click Here
To open your own BitShares account, click Here
good point of view, ty for sharing @matthewwarn
BTW: we will need a tunnel to connect the bunkers and play poker xD
For sure...the bunkers will be party central
Hard to believe how much it has grown, a funny thing is I live in West Virginia and 9 out of 10 people you ask about Bitcoin or any crypto they have no clue what your talking about!
The graphic states that of the US population that have heard of Bitcoin, only 14% have ever owned any...so there is still a ton of room left for upside. The train hasn't even left the station yet.
Thank you for your continued support of SteemSilverGold
Great post sir @matthewwarn. Thank you for this post. The post is so interesting and arranged. You shared the process so welly. Great job sir.
Dear sir @matthewwarn. Thank you so much for making this post understanding. I became a fan of you sir. Just waiting for the next form you sir.
Coins mentioned in post:
Go blockchain!