Crypto Mass Adoption and how it can propel LTC

Hi everybody. I wanted to start a thread exploring different ideas for the mass adoption of crypto currencies and as a result litecoin itself.

First we should look at the major hurdles hindering adoption. As far as knowledge of the existence and maybe a basic understanding of crypto, I feel like that has been accomplished to a fair extent. From my personal viewpoint I feel like a large hindrance is the lack of places cryptocurrencies are accepted. Small to medium sized businesses will be key for more major adoption, because without an outlet to allow spending of btc, ltc, etc. It will remain a niche speculative investment in the eyes of the average person instead of a currency they can spend. Cryptos have a lot of utility and advantages over fiat, but until it’s seen as currency instead of an alternative to stocks, adoption will be slow. As a small business owner myself I am hesitant to accept cryptocurrencies due to the volitility. Leaving my margins in the hands of the market is not a good feeling.

As for solutions, this is where we can discuss possible remedies to the volatility issue. One that comes to mind is maybe a system where for example, ltc is converted to a stablecoin and that is what the business collects (rather than a direct conversion to fiat) and maybe this conversion could be optional on the business side. This may or may not be a good solution but it’s just the first thing that comes to mind. In any case, the larger crypto userbase will inevitably bog down btc. When looking for alternatives that are faster with cheaper transactions, ltc will inevitably take the stage.

Thoughts? Opinions? Possible Solutions?
Let me know if I’m on the right track here. :+1:

I see that you live in the United States, and you still have faith in the USD. I have the following suggestion for you: If you happen to open a subsidiary of your business elsewhere, in a developing country, have your subsidiary accept cryptocurrency, because the local currency will certainly be garbage.

Adoption of Litecoin in a business only makes sense when you already hold Litecoin. By demanding Litecoin from customers, you are reducing the amount of it in circulation, which propels the price up (thus deflation works for you). I intend to accept both fiat and crypto in the shorter run, and give a discount for those paying in crypto (because the deflation works for me, to foster adoption and because I won’t have the hassle to convert the fiat into crypto).

To purchase a cryptocurrency is to purchase shares into the cryptocurrency society (because, even if the price tumbles, other members of the society will accept that as payment, so you still have access to the goods and services of that society).

These are the reasons that lead me to leap into Litecoin. All currencies that are within my reach are crap but Litecoin, and the society around it looks good enough (and I’ll also put effort to propel deflation and make this society healthy).

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For mass adoption, I think Visa and Mastercard can play a role. First, they are launching the debit/credit cards that converts crypto in the moment of the purchase, but then the idea is to enable the transfer of crypto directly. Ii can be a huge step for crytpo mass adoption.

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I rather have my funds in crypto than fiat.

Cryptocurrency is our future.