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Bitcoin News Today – How Long Will It Be Before Bitcoin Hits Mass Adoption?

Bitcoin (CRYPTO: BTC) certainly has come a long way in a little over a decade, but honestly we’re not even close to mass adoption of digital currencies. In this Fool Live video clip recorded on March 18thMatt Frankel, CFP at Fool.com, asks Onramp Invest CEO and cryptocurrency expert Tyrone Ross what it takes for Bitcoin to become a widely used payment method.

Matt Frankel: When do you think we will see the mass adoption of Bitcoin as a payment mechanism? I haven’t known until the last year or so, I know PayPal (NASDAQ: PYPL) announced that they plan to introduce bitcoin acceptance to all of their merchants. Do you see this as a way forward? Do you see it as a couple of years? In other words, how long do you see Bitcoin’s speculative period?

Tyrone Ross: When Crypto has its iPhone moment and it doesn’t have an iPhone moment and I think this is going to require a lot more design people – UX / UI – who are used to designing this beautiful experience for people who only have it the internet works in the background and you don’t know. When I’m using bitcoin and blockchain and all these things and I don’t even know it, it’s just this beautiful experience. Then you get Steve Jobs at Crypto who says, “I’m going to make you want something you didn’t even know you needed,” and you say, “Man, I really need an iPhone.” Then we’ll make sure you go out and get it every time we update it. But it’s a nice experience. I think once we have nice design and experience in crypto it will pass because then you will get away from the public key, the private key and lose it. What about it? How do I store it? Where do i put it? Once it’s all gone and it’s only on my phone, mine Apple (NASDAQ: AAPL) Wallet or whatever – you saw the news from Visa (NYSE: V) Yesterday again with the statement that with a credit card and everything else Visa can easily access a bitcoin, easy to use on your phone and convert it to dollars. When we get there the game is on and regulation also matters because when you use a bitcoin to buy things, each of those transactions is taxable. We have to make sure we get away from that too. It’s a long way to get here.

Frankel: One of the things I say a lot about new technology is if it isn’t easy, no matter how good it is, people won’t do it.

Horse: One hundred percent.

Frankel: In other words, you are saying that if Bitcoin becomes as simple or easier to use than the US dollar, this will be the iPhone moment I think you would say.

Horse: One hundred percent because that’s it, it’s cash. The ease with which I could just walk up to you and give you $ 20 and walk away. That is not taxable. I can do the same with Bitcoin now. But if everyone does that and it’s just a fact, “I just sent you bitcoin.” You understand and there is nothing to it, then we will be there, but we are not there yet.

This article reflects the opinion of the author who may disagree with the “official” recommendation position of a Fintech Zoom Premium consulting service. We are colorful! Questioning an investment thesis – including one of our own – helps us all think critically about investing and make decisions that will help us get smarter, happier, and richer.

Bitcoin News Today – How Long Will It Be Before Bitcoin Hits Mass Adoption?

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