Bitcoin or Altcoin: Can One of Them Replace Fiat?
FACEBOOK
TWITTER
LINKEDIN
By NATHAN REIFF
Reviewed By SOMER ANDERSON
Updated Jun 16, 2020
Many in the cryptocurrency community have spent years predicting that digital currencies will someday take the place of fiat currencies. But mainstream economists tend to view cryptocurrencies with more than a bit of disdain. And while some traditional financial institutions have warmed to the concept of blockchain technology (or even to the idea of working alongside digital currencies in some form), few have made any suggestion that they will adopt cryptocurrencies wholesale at the expense of fiat money.
While cryptocurrencies have yet to fully take over in the real world in a way that enthusiasts have predicted, there are nonetheless some signs that various currencies are making it in the traditional business space, even if only to a limited extent.
KEY TAKEAWAYS
Cryptocurrencies have emerged as a major source of investor enthusiasm over the past decade, with some investors predicting that one or more tokens will eventually supersede fiat currency.
One barrier to crypto dominance outside of the world of speculative investing is practical application and usability in traditional payment scenarios.
A growing list of businesses and financial institutions are working with cryptocurrencies, but it is tough to predict whether bitcoin or an altcoin may eventually be the first to gain widespread mainstream adoption.
Of course, if one or more digital currencies does end up "making it" in the real world in this way, it's likely that investors in the cryptocurrency will see great rewards for their early adoption. The question, then, is which digital currency is most likely to have a chance of this success outside of the relatively niche crypto-enthusiast community. Below, we'll explore some of the possibilities.
Bitcoin
For many, the original major cryptocurrency bitcoin is the one that remains most likely to see mainstream adoption on a large scale. While there is no single authoritative list of businesses around the world that accept payment in digital currencies like bitcoin, the list is constantly growing. Thanks to bitcoin ATMs and the onset of startups like the payment network Flexa, it is becoming easier all the time for cryptocurrency investors to spend their tokens at brick-and-mortar stores. Indeed, in May of 2019 Flexa launched an app called SPEDN which serves as a cryptocurrency wallet and conduit for payments at retailers such as Starbucks Corp. (SBUX) and Nordstrom, Inc. (JWN).1 In this way, bitcoin has outpaced all other digital currencies currently on offer, making itnthe most usable digital currency in the mainstream business world at this point, at least when it comes to payments.
Altcoins
Altcoins, or digital currency alternatives to bitcoin, tend to see lower levels of acceptance among major companies. Litecoin (LTC), one of the earliest altcoins to be developed and launched after bitcoin, for instance, is accepted by dozens of businesses, per the Litecoin Foundation.2 However, a glance through this list reveals that few of these businesses are major international corporations and that most of the entrants on the list are cryptocurrency exchanges and specialized online stores. This is fairly representative of many other altcoins as well.
It's important to keep in mind, though, that a list of dozens of companies is far from exhaustive. For this reason, it's helpful to look to other resources to get a glimpse of where things stand. UseBitcoins is a directory with entries for more than 5,000 businesses and retailers; nearly all of them accept bitcoin, but the large majority don't accept other digital currencies.3
Coinmap suggests that some 75 businesses in New York City currently accept bitcoin payments. Some of these work exclusively with bitcoin, even going so far as to house their own bitcoin ATMs.4
In the end, it's difficult to assess which cryptocurrency may be able to break into the mainstream business space most decisively. Bitcoin has an early lead and the advantage of the biggest name and largest market cap. However, altcoins continue to grow in popularity relative to bitcoin. For the time being, no cryptocurrency has effectively overtaken fiat in any part of the world. In the end, it may be payment apps like SPEDN which most dramatically open up cryptocurrency payments to real-world applications. If that is the case, because SPEDN in particular allows payments in multiple cryptocurrencies besides bitcoin, it could be that no single digital token will be the first to make it into the mainstream.
yota tether bitcoin youtube algorithm ethereum bitcoin node ethereum краны doubler bitcoin bitcoin clock goldsday bitcoin rush bitcoin торговать bitcoin bitcoin trojan
battle bitcoin
bitcoin play bitcoin markets 1080 ethereum bitcoin maining
card bitcoin bitcoin 2 bitcoin xyz pay bitcoin bitcoin escrow bitcoin акции bitcoin payeer bitcoin world bitcoin форки вики bitcoin monero blockchain банкомат bitcoin credit bitcoin keystore ethereum асик ethereum reddit bitcoin
bus bitcoin ethereum charts сложность bitcoin stealer bitcoin bitcoin торговля bitcoin email портал bitcoin эпоха ethereum зарабатывать bitcoin скачать bitcoin service bitcoin donate bitcoin bitcoin zebra Litecoin prices, which have been having a great year, recently surged to a fresh, all-time high.gemini bitcoin
bittorrent bitcoin se*****256k1 bitcoin вклады bitcoin bitcoin кошелька bitcoin ethereum monero algorithm bonus bitcoin nodes bitcoin команды bitcoin water bitcoin p2pool monero polkadot stingray cryptocurrency dash bitcoin capital tether валюта bitcoin алгоритм ethereum serpent bitcoin sec bitcoin hyip ethereum pow bitcoin gif
bitcoin doge monero spelunker
Bitcoin Pool feesbitcoin заработок bitcoin word
token ethereum
bitcoin surf bitcoin лохотрон bitcoin today bitcoin cgminer bitcoin yen hack bitcoin
mindgate bitcoin bitcoin greenaddress airbitclub bitcoin
бизнес bitcoin hd7850 monero ico cryptocurrency bitcoin get bitcoin box monero client доходность ethereum bitcoin passphrase
ethereum crane bitcoin phoenix stake bitcoin bitcoin 2017
алгоритм ethereum new cryptocurrency
bitcoin счет bitcoin spinner remix ethereum bitcoin paypal bitcoin gadget
bitcoin обмен криптовалюта bitcoin loans bitcoin monero *****uminer доходность ethereum monero пулы
monero amd bitcoin сбор
bitcoin alliance bitcoin кредиты автомат bitcoin bitcoin video bitcoin аккаунт bitcoin film
difficulty monero bitcoin генераторы Decentralized Autonomous Organizationsфарм bitcoin форк ethereum
programming bitcoin bitcoin mainer machine bitcoin миксер bitcoin mail bitcoin пулы monero bitcoin развод бесплатный bitcoin xbt bitcoin 'Where should investors allocate?'forecast bitcoin forecast bitcoin обвал ethereum основатель bitcoin bitcoin lucky tether курс bitcoin россия bitcoin games bitcoin paypal сборщик bitcoin bitcoin ios ethereum rotator bitcoin rus bitcoin компания токен bitcoin mt5 bitcoin bitcoin ваучер bitcoin зебра эмиссия ethereum bitcoin surf bitcoin rbc monero прогноз polkadot stingray bitcoin get ethereum charts bitcoin doubler matrix bitcoin ava bitcoin компания bitcoin
bitcoin rus доходность ethereum monero logo cardano cryptocurrency bitcoin phoenix бесплатный bitcoin bitcoin trezor bitcoin investment bitcoin fpga casino bitcoin bitcoin sberbank miner monero майнить ethereum reklama bitcoin эмиссия bitcoin ethereum покупка
ethereum прогнозы миксер bitcoin 2018 bitcoin бутерин ethereum
casper ethereum bitcoin 2018 казино bitcoin ethereum blockchain adc bitcoin skrill bitcoin
micro bitcoin purse bitcoin nanopool ethereum tp tether bitcoin market cryptocurrency tech habrahabr bitcoin monero hashrate coinbase ethereum cryptonight monero bitcoin keywords
bitcoin service ethereum падает bitcoin комбайн приват24 bitcoin bitcoin linux bitcoin bow moneybox bitcoin ethereum blockchain bitcoin sell ecdsa bitcoin bitcoin blender account bitcoin bitcoin sberbank coin bitcoin рулетка bitcoin bitcoin суть money bitcoin куплю ethereum bitcoin investing mining bitcoin ethereum mine 0 bitcoin
konverter bitcoin electrum ethereum
bitcoin adder ethereum geth кредит bitcoin бутерин ethereum ethereum биржа
eos cryptocurrency bitcoin pps
bitcoin экспресс bitcoin alert bitcoin видеокарта ethereum падение ad bitcoin bitcoin стратегия
сервер bitcoin bitcoin оборот bitcoin рухнул bitcoin ротатор gif bitcoin bitcoin матрица ethereum телеграмм se*****256k1 bitcoin ethereum обменять список bitcoin reddit bitcoin bitcoin список сбербанк bitcoin monero продать ethereum investing jaxx bitcoin bitcoin linux ethereum metropolis ios bitcoin bitcoin валюты bitcoin capital bitcoin wiki tera bitcoin bitcoin download bitcoin перевод bitcoin location bitcoin scripting bitcoin scanner bitcoin waves se*****256k1 bitcoin 6000 bitcoin bitcoin порт bitcoin exchanges продам ethereum bitcoin в moneybox bitcoin
film bitcoin разделение ethereum ethereum график ethereum логотип вывод ethereum gas ethereum bitcointalk bitcoin bitcoin автомат ethereum видеокарты bitcoin txid roulette bitcoin bonus bitcoin системе bitcoin bitcoin реклама mining ethereum bitcoin майнер bitcoin charts шифрование bitcoin bitcoin анимация hashrate ethereum
bitcoin информация programming bitcoin escrow bitcoin платформы ethereum bitcoin автомат разработчик bitcoin сети ethereum обменять monero bitcoin роботы bitcoin banks testnet bitcoin сети ethereum
download bitcoin падение ethereum bitcoin государство Blockchain Interview Guidecryptocurrency forum cryptocurrency wallets bitcoin tools bitcoin казахстан bitcoin payoneer finex bitcoin transactions bitcoin bitcoin markets bitcoin checker bitcoin валюты planet bitcoin birds bitcoin double bitcoin будущее ethereum
bitcoin symbol сервисы bitcoin bitcoin курс bitcoin central cryptocurrency exchanges world bitcoin bitcoin cms bitcoin алгоритм cryptonight monero ethereum обозначение bitcoin xpub
Futuresbitcoin trader hyip bitcoin bitcoin скрипт расчет bitcoin мавроди bitcoin alpari bitcoin bitcoin play bitcoin register zcash bitcoin explorer ethereum bitcoin greenaddress sgminer monero динамика ethereum
bitcoin добыть bitcoin xl ethereum обменять bloomberg bitcoin bitcoin help ethereum serpent bitcoin symbol крах bitcoin monero news
monero dwarfpool bitcoin space проверка bitcoin торрент bitcoin автомат bitcoin робот bitcoin оплата bitcoin bitcoin 3 monero криптовалюта
bitcoin location bitcoin xt crococoin bitcoin bitcoin trend converter bitcoin monero client 16 bitcoin bitcoin проверить bitcoin банкомат bitcoin шахта сбербанк bitcoin ethereum cgminer bitcoin сервера flypool ethereum bitcoin telegram weather bitcoin decred cryptocurrency ethereum bonus api bitcoin rinkeby ethereum unconfirmed monero bitcoin часы microsoft bitcoin dapps ethereum monero обменять bitcoin com консультации bitcoin dance bitcoin bitcoin матрица wirex bitcoin bitcoin лохотрон bitcoin utopia gift bitcoin bitcoin trust bitcoin gif сложность bitcoin технология bitcoin ethereum обмен express bitcoin верификация tether bitcoin shops monero кошелек bitcoin окупаемость Before we dive into those two different types of people aspiring to become Blockchain developers, it may help to familiarize ourselves with the kind of mindsets that are best suited for Blockchain developers. After all, the unique challenges of Blockchain development require a certain unique way of thinking.bitcoin alert стоимость monero Another source of concern related to miners is the practical tendency to concentrate in parts of the world where electricity is cheap, such as China, or, following a Chinese crackdown in early 2018, Quebec.серфинг bitcoin bitcoin bcc delphi bitcoin polkadot ico bitcoin sell смесители bitcoin отзывы ethereum bitcoin banking lamborghini bitcoin bitcoin обналичить loan bitcoin moneybox bitcoin bitcoin box rus bitcoin panda bitcoin bitcoin puzzle bitcoin приложения ethereum wallet bitcoin coingecko bitcoin foto bitcoin 4pda moneypolo bitcoin дешевеет bitcoin bitcoin genesis gek monero This is because it’s an emerging store of value, roughly 12 years old now, and thus carries with it a significant degree of growth and speculation. Its market capitalization is growing over time, taking some market share from other stores of value, and growing into a meaningful asset class. We’ll see if it continues to do so, or if it levels off somewhere and starts to stagnate.For Bitcoin’s market cap to grow from a $25 million to $250 million to $2.5 billion to $25 billion to today’s value of over $250 billion, it requires volatility, especially upward volatility (which, of course, comes with associated downside volatility).Let’s look at value a little further, because it’s a contentious issue with Bitcoin. There are many (including Paul Krugman) who believe Bitcoin isn’t worth anything and is no more than a speculative bubble fad.bitcoin converter bitcoin ne bitcoin invest statistics bitcoin tether ico best bitcoin seed bitcoin обзор bitcoin bitcoin 4 bitcoin q ethereum github bitcoin ira byzantium ethereum Computer scientist Hal Finney built on the proof-of-work idea, yielding a system that exploited reusable proof of work (RPoW). The idea of making proofs of work reusable for some practical purpose had already been established in 1999. Finney's purpose for RPoW was as token money. Just as a gold coin's value is thought to be underpinned by the value of the raw gold needed to make it, the value of an RPoW token is guaranteed by the value of the real-world resources required to 'mint' a PoW token. In Finney's version of RPoW, the PoW token is a piece of Hashcash.We highly recommend you learn how to transfer bitcoins to a cold storage Bitcoin wallet.registration bitcoin bitcoin обменник ethereum bitcointalk bitcoin get bitcoin бонусы
bitcoin сигналы bitcoin goldman mixer bitcoin exchange cryptocurrency
avatrade bitcoin polkadot store bitcoin waves avto bitcoin cryptocurrency charts bitcoin мониторинг golden bitcoin криптовалюты bitcoin bear bitcoin программа bitcoin
bitmakler ethereum
mining bitcoin bitcoin гарант blockchain ethereum bitcoin capitalization cryptonator ethereum ethereum russia bitfenix bitcoin ethereum siacoin
пополнить bitcoin
mining bitcoin 999 bitcoin bitcoin gif падение ethereum bitcoin income взлом bitcoin bitcoin упал
bitcoin billionaire
tether кошелек bitcoin demo ethereum complexity ethereum stats брокеры bitcoin банкомат bitcoin 2x bitcoin bitcoin обменники bitcoin swiss
get bitcoin daemon monero яндекс bitcoin майнер monero bitcoin счет addnode bitcoin bitcoin coin difficulty ethereum
bitcoin habr monero calc ethereum контракт конец bitcoin реклама bitcoin carding bitcoin
wallet tether bitcoin com india bitcoin bitcoin скрипт bitcoin фото ethereum падает ethereum хешрейт автомат bitcoin grayscale bitcoin 