There’s a lot of pressure on Bitcoin to perform. Bitcoin is somewhat of a celebrity, forced to do well by the media, in the spotlight and hopes and dreams of us all. If Bitcoin doesn’t do well, we end up pretty disappointed, when Bitcoin does do well, we can turn out pretty pleased. So, the question we want the answer too, what will be Bitcoin’s greatest achievement?
What moment will be Bitcoin’s Oscar winning moment? What will it win an Oscar for and more importantly, when will it happen? To me, the most important thing for Bitcoin is of course adoption. Yes, Bitcoin reaching $100,000.00 would be a great achievement, but it’s the eventual adoption of Bitcoin that seems to be the most exciting prospect. The day we can use Bitcoin to purchase our food shopping, or to buy a new gadget on Amazon, that’s the day we will see Bitcoin hit peak performance.
Why is this the case? Well, Bitcoin is important and is an active figure in the progression of our more eco friendly and more decentralised society. With Bitcoin, there’s no further need for FIAT current, no need for banks, no need for anyone to have a financial grip on us as a society. So, Bitcoin hitting huge highs might be great, but it’s ability to create freedom is far greater.
So, the big question, when will this happen? In order for Bitcoin to actually reach peak adoption, we need to see regulation first. Governments are somewhat anti-Bitcoin (obviously, it challenges the status quo) so we need to see their regulations take hold first. Now, this might sound like a bad thing but regulation can also be a good thing… either way, once Bitcoin becomes regulated and becomes accepted by the powers that be, it will eventually start to see mainstream adoption by merchants across the world. When this happens, the popularity of Bitcoin will increase, eventually leading to a mass adoption of Bitcoin by society. If this happens, there is a chance that banks can be replaced and that us, as people will no longer require FIAT currencies. It’s a bit of a dream at the moment, but this is Bitcoin’s ultimate goal and it’s something that we should all be holding out for.