Many people around the world are still struggling with the concept of using Bitcoin in real-life situations. Depending one where one might live, there are either several or no options available to convert Bitcoin into a viable fiat currency alternative. Bitcoin debit cards are not available all over the world, paying bills with Bitcoin directly can only be done in so many countries, and using exchanges for conversion to fiat is cumbersome. So what will be the killer app that provides everyday consumers with the proverbial light bulb?
Also read: Shorter Bitcoin Block Time Due To Hashrate Spike Is No Reason For Concern
What To Expect From Bitcoin in 2016?
Depending on how one looks at Bitcoin, having expectations in the world of digital currency might not be the best option to choose from. Bitcoin is very unpredictable as an industry, as well as in the price per BTC. Even companies active in this space can throw a curveball to customers every now and then.
But there are some certainties in the Bitcoin world as well. Blockchain technology will keep attracting new startups and established financial institutions for many years to come. One does not expect blockchain technology to change the world overnight, as this process will take a few years at last.
Additionally, VC funds will keep flowing to Bitcoin and blockchain companies for the foreseeable future, although the numbers might be different compared to 2015. After setting a record year regarding funding and investment, 2016 will be a “put up or shut up” year for a fair few companies. Depending on how that scenario plays out, there will be more, less, or nearly the same of money flowing to digital currencies in 2016.
Regarding the Bitcoin price, the block halving – which takes place around April of 2016 – is a moment of great importance to enthusiasts and investors. Many people feel this halving will lead to a major Bitcoin price boost although it remains to be seen whether or not that will be the case.
Good things won’t come to the Bitcoin world unless the community members make things happen. Sitting back idly and watching how the situation unfolds will not lead to any increase in Bitcoin adoption, neither by merchants or consumers. Raising awareness about Bitcoin and its benefits will be the key to making 2016 a successful year for the digital currency.
What are you hoping to see from Bitcoin and the blockchain in 2016? Are you planning to raise awareness on Bitcoin? Let us know in the comments below!
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