What is Bitcoin? Almost nobody could really answer this question just about 5 years ago or so. However, in this day and age, cryptocurrencies seem to be all the rage right now. Some treat them as one giant bubble, a scam, a newborn sophisticated Ponzi scheme, other think they are arguably the most valuable piece of technology ever invented on the face of the Earth, which despite several setbacks is still very likely to succeed in the not-so-distant future. Now the most important question is: what would it take for Bitcoin to go far beyond the expectations of its most avid supporters and take over the whole world? Or, at the very least, all its parts where people do not struggle with Internet access and censorship. For those who have been wondering, here are the five ways to possibly take Bitcoin to the next level.
1. A brand new trading culture
As of May 2018, most Bitcoin traders and investors are the ones who tend to engage in a gambling-like behavior, also known as the “day trading“. In other words, their primary concern is profit, not the promotion, adoption, and improvement of the Blockchain and its current number one cryptocurrency. That is why when the value of Bitcoin plunges, these people have countless emergency sales in the pursuit of saving at least a bit of their initial investment. According to The Bitcoin Bosses research, the value of Bitcoin fell down almost 50% since December 2017 and, unfortunately, it was partially day traders’ fault. However, as long as there are investors who care about the long-term perspective, Bitcoin will still have chances to survive all the forthcoming recessions and even get to the new all-time highs. This category of Bitcoin investors and users are the main reason why it is still around today.
2. Some crucial improvements in technology
Any existing technology was built to serve people. Any obsolete technology is gone today because it can no longer serve people. The same thing is with Bitcoin and other cryptocurrencies. As long as their users are not able to pay for goods and services without delays in processing or giant payment fees, Bitcoin is nowhere near a competitor of the so-called “fiat money”. Nonetheless, the developers are still working hard to resolve this issue. According to this article, many online casinos are now offering the option to play using bitcoins to obtain better wealth.
3. Satoshi Nakamoto true identity reveal
Even though Bitcoin got so popular without people even knowing who the true founders are, it would still be considered as an important step in its history. When it all finally happens, it is going to be known as a day of the ultimate relief of all the supporters and a day of the final defeat of all the naysayers. Everyone in the community knows who VitalikButerin is and it definitely helps Ethereum maintain the second place in the crypto chart for a really long time. There is simply no compelling reason why Bitcoin should not go the same way if it is here to stay.
4. Widespread adoption / Elimination of harsh government regulations
Although Bitcoin has a long way to go, there might still be some light at the end of the tunnel. As of 2018, only 6-7 million people in the world have Bitcoin wallets with a positive balance or a history of transactions. What is stopping billions of others can be dubbed as a fear of loss. However, when Bitcoin ATMs are everywhere you go, that would be a real game changer. The good news is: the world is already heading in that direction, slowly but surely, also nowadays, you can manage your digital currencies in safe apps, and even buy bitcoin with bank account with ease.
5. The first purchase
Yes, it is all about those of you who are reading this article yet never owned any money in Bitcoin. You are exactly what the community needs today, especially those investors who are willing to think long-term and stay away from day trading. And no, you absolutely do not have to buy a lot. Because even a small purchase matters in the grand scheme of crypto things.
