It’s Q4 2016, So Where Is Bitcoin’s Consumer Demand?

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By Ryan Taylor, Director of Finance during Dash

Since an unknown contriver initial introduced Bitcoin in 2009, a universe has solemnly gained an appreciation of a overwhelming intensity of digital currencies and a blockchain record that underpins them.  These currencies can be sent opposite a Internet fast and low but a need for dear intermediaries. By a finish of Q1 2016, some-more than $1.1 billion in try collateral appropriation had flowed into Bitcoin and blockchain startups.

Yet, scarcely 8 years after a creation, Bitcoin stays small some-more than a fondle for geeks and a source of report and debate for fintech journalists. Bitcoin – notwithstanding all a guarantee and media coverage – has nonetheless to benefit widespread adoption.

In many ways, this is utterly understandable. The mainstream payments business is unusually formidable for new entrants to penetrate.

First, consumer remuneration behaviors are generationally delayed to change. Despite decades of digital alternatives, money and checks still contain scarcely a third of tellurian consumer remuneration volume.

Second, when new remuneration technologies enter a market, they face a classical “chicken and egg” dilemma… consumers won’t try a new use if there aren’t many places to use it, while merchants won’t accept it unless a vast share

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