Bitcoin has come a long way since 2009, with a market cap of over $150 billion today.More and morepeople compare Bitcoin's revolutionary potential with the Internet in its early years.</p>
But Bitcoin is not just a technological, but also an ideological breakthrough. This is a peer-to-peer payment system without a central regulatory authority, which can operate on a large scale.
Bitcoin is already helping protect the populations of the poorest countries that suffer from the oppressive monetary policies of their rulers and the negative effects of the US dollar.
Despite the success of Bitcoin, do not forgetthat he is still at an early stage in the technology adoption cycle. Today, bitcoins are bought by early followers who are prepared for both profit and risk.
Many still don’t know what Bitcoin is.
At the beginning of 2020, the public’s attitude to Bitcoin is very different from the situation in 2010. At that time, few people knew about Bitcoin, and only cipher banks experimented with it.
In 2020, every person on earth heard about Bitcoin at least once.
Everyone heard about the colossal rise in Bitcoin prices at the end of 2017. At that time, the media wrote a lot about Bitcoin, so the general public found out about it.
But many still do not understand what Bitcoin really is.
Media and politicians put cryptocurrency profitablefor them, they don’t talk about its real meaning. For most, Bitcoin is a speculative tool for laundering dirty money. Very often, this myth is told by opponents of bitcoin to tarnish cryptocurrency.
From this, it can be concluded that Bitcoin is still at an early adoption stage.
In the next decade, Bitcoin supporterswill carry out enormous educational work and contribute to its development and mass character. The deeper the public understands the essence of Bitcoin and its advantages for the world, the more the price and mass of cryptocurrency will increase.
Bitcoin Payments Still Limited
Bitcoin has become a worldwide store of value. The recent conflict between Iran and the United States in early 2020 showed that bitcoin is as reliable as gold.
On the other hand, Bitcoin is hardly turning into a medium of exchange and payments.
In developed countries, only a few companies accept bitcoins. In the future, the situation will improve - bitcoin will be interested in more and more companies that want to benefit from it before the competition.
The unpopularity of Bitcoin as a means of payment indicates its exceptional growth potential in the future.
What other payment technology can boast a capitalization of more than $ 150 billion and has a high growth potential in trade around the world? The answer is simple: only Bitcoin.
Negative Media Reviews About Bitcoin
The phenomenal rise in the price of bitcoin at the end of 2017 to $ 20 thousand did not leave indifferent the leading media, which immediately began to write about bitcoin and other cryptocurrencies.
The media for the most part speak negatively about bitcoin.
They constantly warn the public aboutthe risks associated with bitcoin, and do not even try to talk about its advantages for the whole world. The situation has not changed much. The media is still looking at bitcoin from the point of view of its opponents, who like to express themselves in short polemical phrases in the hope of a viral effect.
In the entire history of the existence of the collapse of Bitcoin, 380 times were detected.
But criticism of Bitcoin can be seen as a good sign. Cryptocurrency is still at the stage of joining early followers. In order for more people to know about Bitcoin, you need to talk about it.
We need to talk about Bitcoin to the masses. And it doesn’t matter from the bad or the good side.
Time will tell that Bitcoin is able to withstand any criticism. Regardless of the circumstances, Bitcoin will continue to develop block by block and create a more honest global financial system.
Inconvenience to use
Many criticize Bitcoin for the fact that it is difficult to use for ordinary people. These critics were stuck in the early 2010s.
In recent years, using bitcoins in services has become much more convenient.
Of course, perfection is still far away, but it has become much easier for the general public to use bitcoins. Of course, the process of interacting with users has to be significantly improved.
The growth prospect opens the door to many startups offering innovative solutions for the daily use of bitcoins.
Much more can be improved, which means that Bitcoin has a high development potential, which only contributes to its massiveness and price increase.
High price volatility
Due to the incredible success of Bitcoin, many have forgotten that he is only 11 years old. Critics of Bitcoin’s high volatility should remember that this is normal for this age.
In the future, the bitcoin price volatility will stabilize.
When the bitcoin price volatility returns to normal, cryptocurrency will become even more popular. Bitcoin is a risk and an incredible opportunity.
If you still haven't caught the Bitcoin train, then hurry. Soon he will pick up speed, and you will be left far behind in disappointment.
It is not known how much the price may rise.bitcoin. It is very likely that due to a decrease in the number of new bitcoins in the future, demand will increase significantly. If you decide to buy bitcoins, now is the perfect time, until the price does not exceed $ 10 thousand.
Bitcoin scalability requires significant improvements
The sharp increase in the number of transactions with bitcoins at the end of 2017 showed that the blockchain needs to be improved in terms of scalability.
Bitcoin now processes up to 7 transactions per second.
The community is trying to find a technical solution for Bitcoin's weak point - technical limitations. Bitcoin will not become a global payment system while it processes several transactions per second.
PayPal processes about 200 transactions per second, and Visa - 24,000.
Compare Bitcoin with these systems is not quiteright because they are centralized and Bitcoin is completely decentralized. For many months now, the community has been working to solve the problem using the Lightning Network protocol.
The Lightning Network will reduce the load from Bitcoin due to small payment channels, the final balance of which will be displayed on the blockchain.
Embed Lightning Network on Bitcoin BlockchainIt turned out to be not so simple, but progress is already being made. It's risky to buy bitcoins until its volatility reaches its maximum limit. It seems you can still wait. From another perspective, this risk is limited, and bitcoins can be bought right now. When its scalability increases significantly, the price will increase dozens of times, and the earliest followed will receive income.
Bitcoin has already achieved incredible success, although itonly 11 years old. Even more striking is the fact that cryptocurrency is still at the stage of early followers, according to the technology adoption cycle. Now Bitcoin is going through the phase of the “abyss”, on which its access to the big stage depends. Buying bitcoins is still profitable. Now this is done by early followers who take risks, but who can profit in the future.
To take or not to take - you decide.</p>