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> If BitCoin can survive long enough to see more widespread adoption of it as a currency My question is why would it see widespread adoption? The only reasons
by jcampbell1 14y ago
> If BitCoin can survive long enough to see more widespread adoption of it as a currency
My question is why would it see widespread adoption? The only reasons I can think of are: it allows anonymous online transactions, has low transaction costs, is not backed by a government, and is interesting on a tech level. I am not sure these reasons are good enough to cause widespread adoption.
- GaryRowe 14y agoLow transaction costs translates directly into increased profit margin. Surely every business wants that?
- jcampbell1 14y agoBusinesses want low transaction costs, but most business face competition and the customer decides the transaction medium. For instance, my company accepts paypal, not because I like it but rather my customers do. Of course a company with monopoly power could force adoption. For instance Bitcoin would take off if your utility companies only accepted bitcoins, but I don't think that is likely.