Hey guys,
I see 99% of filehosts here offer payments via Bitcoin and some also offer payments through Altcoins (Alternative coins like Bitcoin). However, I have spoken to so many filehosts and they all admit that user adoption of Bitcoin and Altcoins is very very low right now!
This is very shocking since there are lot of benefits of using crypto coins, I will list some below:
So now, why is the adoption of such a great product so slow? Is there something which you feel is not good about these coins or a feature you think is missing?
I am willing to clarify and educate you all on this topic here - Strictly no PMs please.
I see 99% of filehosts here offer payments via Bitcoin and some also offer payments through Altcoins (Alternative coins like Bitcoin). However, I have spoken to so many filehosts and they all admit that user adoption of Bitcoin and Altcoins is very very low right now!
This is very shocking since there are lot of benefits of using crypto coins, I will list some below:
- Since crypto coins are traded on exchanges 24/7 the value of your holdings will also increase or decrease with fluctuation in their prices - the general trend in crypto-coins is value increasing over a period of time. Yes, there is a risk of value decreasing, but this risk is generally associated with coins which are not good. Bitcoin, Litecoin, Ethereum, Monero etc. are some real solid coins. You are literally getting free money over a period of time
- Anonymous transactions - just download a wallet like Exodus and you are good to start sending or receiving these coins, no sign-up, no ID verification etc. is required
- Irreversible transactions - Once a transaction is made on the blockchain and confirmed, it cannot be reversed. You don't have to worry about disputes, chargebacks etc.
- High anonymity coins like Monero, ZCash etc. offer more protection by not showing your transactions to the world like Bitcoin. Does not mean Bitcoin transactions can easily be traced to you - it is quite difficult. But these coins are preferred by people who are paranoid about their privacy
- Low fees - The fee to send / receive crypto-coins is generally very low compared to say PayPal! PS: The current Bitcoin fee is a bit high due to hashpower moving to Bitcoin Cash, it should be fine soon
- Accepted by most of online sites including - Web Hosts, Domain Registrars, File Hosts, E-Commerce Websites, Freelancers etc.
So now, why is the adoption of such a great product so slow? Is there something which you feel is not good about these coins or a feature you think is missing?
I am willing to clarify and educate you all on this topic here - Strictly no PMs please.