Like Bitcoin or not you cannot deny it is the gateway between fiat and cryptocurrency as a whole. No matter how well alts do the world is only watching bitcoin and the price of bitcoin. When it does well we see a surge for the rest of the market and you know what happens when bitcoin has a bad day. There are a lot of dapps that are working well and a lot of projects that are popping up with great value but the outside world only hears one thing: Bitcoin. This means that crypto is, at this moment, tied to the success of the coin.
The Price Matters
Before we talk about what we can do to bridge the gap between the real world and the digital world I want to discuss price and how it is driving the space at this time. As much as innovation and use should drive the space that isn't the case. At this time everyone is looking at the price of the coins and then judging from there if they have value. Yes it is backwards but it is where we are at at this time. People seem to be waiting for the price of a coin to go up before they start to look at what the project does and if it is a good investment. Take defi for example, now that the coins are exploding in price everyone is starting to get interested in the space. For Bitcoin it means we need to pass the 20k mark before people will start to pay attention. Why the 20k mark? This was the ATH and once it passes it we can put any ideas that Bitcoin is a fad to rest. And once this happens we can see some serious money flow into alts which means small cap alts can skyrocket.
How Do We Get Businesses To Accept It?
As I mentioned before price is one big factor as more people will be willing to accept Bitcoin when the price is over 20k. But we also need to make sure Bitcoin is easy to receive and send. I think wrapping is a good gateway to do this as we can move Bitcoin to a chain that is easy to transact on with high speeds and then people can move Bitcoin into their wallets for long term holding if they want. The key to doing this is to make BItcoin spending and receiving as easy as possible for people who know nothing about computers. It should be as easy as using paypal or pressing a button on your phone. This means that the wrapped bitcoin needs to be handled by an app that can easily turn it into cash for the user so they don't know all the tech that is happening behind the scenes. If we can make an app that wraps bitcoin, sends it to a person, unwraps it and stores it then you can start mass adoption of the coin. This way people do not have to wait to send and receive the coin and it would be as easy as pressing the app on your phone.
Bitcoin and crypto have come a long way and there is no doubt it will be the future of the digital economy. However we need to make sure that it is easy to use for everyone and not just those that are willing to learn. That way people can send crypto to their friends and get more people into the system. Oh and just like steem has using names instead of log hashes is a better way to get the coin into the masses and it is easier to remember and makes it more personal.