Although supply and demand are the main factors for a crypto coin to take off with a big leap, towards becoming a big player or coin, in the crypto currency world I do recognize a few more factors and questions to wonder about, for Decred and its future Considering a comparison in how: · Bitcoin itself is still currently the original and major crypto currency in all · Bitcoin is actually like the primary and original genesis crypto coin of all, ever since crypto currency first came into existence · Bitcoin originally has held itself in both the primary and leading crypto coin position, ever since it was first invented · Bitcoin first sprang into action, from being the first crypto coin in existence · Bitcoin is the longest going crypto currency on record · Bitcoin in total circulation and supply of its $ value, is worth more than the total value of any other crypto currency alone, in circulation and supply of $ value I see these few questions and factors to wonder about for Decred: · How can and how would Decred or any other crypto coin ever takeover Bitcoins primary position? · Unless Bitcoin and all other low end leading crypto coins lose attraction or go kaput, that came into existence before Decred did, how will Decred take front lead? · Until Decred’s total + overall value in circulation and supply, does beat Bitcoins total + overall value in circulation and supply, the total Decred market value will either not flow as; wide, flexible, far, or have the direct ability for as many big asset sales, in its value of circulation and purchasing power, as compared to what Bitcoin currently does, like for example, say it only takes around 1,530 Bitcoin to buy a reasonable house or a moderate business company = around the $650,000 USD mark = around 0.01% of the current total Bitcoin in circulation, in comparison for Decred, it would currently take around 300,000 Decred = around the $650,000 USD mark = around 15.81% of the current total Decred in circulation, which means Decred currently does not have as much direct cash flow ability or circulation flow for big and hungry buying power, as Bitcoin does by a big comparison · Although Decred at the moment does have a much smaller and steadier price, for its own value, of 1 Decred being measured in $ USD for example, it still currently does have to experience the percentage volatility range that Bitcoin has, due to how people have to still experience, process and go through the Bitcoin price, via how they have to still Buy Bitcoin from USD, then Buy Decred from Bitcoin, rather than naturally seeing a true experience and exchange value of Decred directly via USD, which ends up placing Bitcoins price, fees and volatilities, as an unfortunate middle man in the road of Decred’s nature with USD
Bitcoin has it's own problems - see https://forum.decred.org/threads/bitcoin-problems-any-relation-to-decred.1254/ any relations to Decred ?
As discussed in this thread, there are several ways that Decred can become widely accepted. It could possibly aim to take the lead from other cryptocurrencies like Bitcoin and Litecoin, Etherium, Dogecoin, and Peercoin. Right now, all these Cryptos and a few more stand in the way of Decred. These coins have years on Decred, and large communities of loyal traders. If Decred goes after Bitcoin, we can't stop there - Decred will have to somehow maintain a lead over all the other currencies mentioned. This will take an immense amount of money, marketing, and effort - and could ultimately drain the project. I don't think Decred is ready to go against Bitcoin and the big dogs; it'd be like a small local computer repair shop trying to take business from Dell. The aggressive route is certainly an option, but probably not the smartest one. I think Decred needs to grow its community, and prove the concept of decentralization. For cryptocurrencies to succeed, their need to be a wide selection of coins with unique features that people can choose from. The release of this party stake pools will help make Decred more decentralized, and I think this is what a lot of people are looking for at this time. As for the price, I personally hope it doesn't skyrocket to <400 - a cryptocurrency doesn't need to be expensive to be good.
The first major hurdle is to get bitcoin out of the DCR acquisition process. I dont think this will happen until we see a significant rise in the price of Decred. As long as BTC is the middle man why would most people take the extra steps to get DCR? Most wont. That is the point.
I will come back in a few years to see. or at least give DCR 2-3 years if not 7 just like BTC before comparing. So we will meet again in a few years.
As several of you have mentioned, the involvement of Bitcoin in the Decred trading process is the largest roadblock we currently face. As time passes, the volume of available Decred will grow and this will help it expand and get more people involved. There needs to be an incentive for people to hold Decred - which I believe already exists - but people need to be educated about the benefits of decentralized cryptocurrency and exactly how Decred applies to these benefits. In other words, if Amazon, Newegg, JM Bullion, and all these sites accept Bitcoin, "why should I get rid of my Bitcoins and obtain Decred?" I hate to say this (because it implies reliance on a centralized system), but Decred needs its own market based on fiat currency for now. Just like Bitcoin did in the beginning (and still does). Before this can happen, it's going to take time for the available volume of coins to grow... so all we can do now is discuss it and wait. Side note: The largest Bitcoin exchange, Coinbase, doesn't even let you buy Bitcoin anymore without providing a government issued ID and every single detail about yourself. I can open a bank account with less information. I don't want to derail this thread, but this absolutely affects Decred. Coinbase is clearly becoming a centralized authority for decentralized cryptocurrency. This is counter productive. I believe Decred stands for decentralized governance AND decentralized ownership - so until it is no longer reliant on Bitcoin, we cannot truly be decentralized.
As I was saying the price of decred has to go up to even make this feasible(removal of dependence on BTC). The barrier to entry for creating an exchange in the USA from a business perspective is quite high to my understanding. Call it a catch-22 or whatever you want but that is fact currently. Big banks using the law to make an uneven playing field to benefit themselves. I also agree. There is not much we can do right at the moment. Other than support decred.
I don't know what it takes to create an exchange from a business perspective, but I would not be surprised if it is near impossible for common people. Doesn't that speak about other inherent problems with the sytsem? I view Coinbase as just as much of an oppressive force as the big banks are with it's ridiculous hurdles to obtain Bitcoin. It will remain difficult for any decentralized crypto currency to gain footing in a massive economy until the big banks themselves begin releasing their own uncryptic currencies.
A couple of further questions to ask, and points to state... Sometime between the last 2 weeks, when I loaded my Litecoin wallet and decided to try out using bleutrade.com as a trading platform, I discovered the following 2 points, and then had a further think towards Decred on both points When I was loading my Litecoin wallet, I discovered (c) 2009-2015 Bitcoin Core developers and (c) 2011-2015 Litecoin Core developers, and then thought in question, how could we separate and take Decred outside of the Bitcoin Copyright, Patent and Trademark fields, and would it be a good idea to do so? I thought, maybe this is exactly the master of reason for why Bitcoin holds the power and dedicated top position in the Crypto Currency world under it's copyright, patent and property rights and protections within the Law Due to how Bitcoin is the originator of Crypto Currency, from being the original first primary Crypto Coin out in the first place (Which I now think of Bitcoin as both the Master and Genesis Crypto Currency Coin) While I was using bleutrade.com, I saw this late Notice for Litecoin: NOTICE: Dear user, from April the base market /LTC will be removed. Then I thought... OK, so if Bleutrade and many other trading platforms and providers can choose what coins they want to set as their main base market coins, in the future how can we encourage and drive Decred to become 1 of the ultimate main base leading coins too? Currently on bleutrade.com, Bitcoin, Litecoin and Dogecoin are the 3 main base market coins, until Litecoin gets removed in a couple of days time or so Like from the main coins that Shape Shift supports, I do not see Decred supported by them yet - https://shapeshift.io/ So Decred certainly still does have many possibilities and improvements to consider and to try working towards 2 of the Litecoin Wallet (c) Copyright screenshot images: Screenshot image of the bleutrade.com Litecoin Notice:
If you want decred to go big you need to get somebody like bitpay to accept it. Then have a simple plugin for wordpress and other CMS platforms That people can use. Oh and dont forget we have to figure out how to get bitcoin out of the fiat -> bitcoin -> dcr and dcr -> bitcoin -> fiat chain game. Better do that first.
The reason so much ID is required to get a fiat -> crypto account is the sheer amount of fraud. This is also one of the biggest roadblocks to making an exchange. Due to the anonymous and international nature of crypto they're perfect for money laundering. There's a lot regulation around banking so any enterprise that touches fiat currency has to deal with that. And to be honest, you want to. You'd have fraudulent transactions hitting you all over the place and it wouldn't be long before you were either bankrupt or sued out of existence. Those regulations protect both the exchange and their users. The major benefit to crypto is the idea that a government (or group *cough*bitcoin miners*cough*) can't control the supply, demand or use of the currency. They can't freeze funds or order some central entity to turn them over to someone else (they don't need to worry about getting transactions records; they're already public in the blockchain).
http://pestisracok.hu/forradalom-digitalis-valutapiacon-felforgatta-az-ethereum-es-megjelent-decred/ Some news about Decred and Ethereum for the hungarian Decred fans in our news site.... Wrote it myself