Why Bitcoin is Failing to Take Over the World

As far as leading the digital currency revolution, Bitcoin just isn’t getting it done. Ryan Taylor of Dash sees why Bitcoin is failing to take over the world.
Bitcoin is in a lull. For the past several months, the frontrunner of the cryptocurrency world has experienced relatively stagnant value. Both the number of transactions and total transaction value have not risen significantly this year, and Google search terms have not seen meaningful growth over the last few years, certainly nothing like in 2013. The digital currency revolution we were promised has largely failed to materialize.
Cointelegraph spoke with Ryan Taylor, Dash’s director of finance, about the future of digital currency, and the challenges Bitcoin faces if it intends to continue to lead the global financial revolution.
CoinTelegraph: Do you feel that Bitcoin has stagnated in any way?
Ryan Taylor: Bitcoin and its ecosystem is obviously still growing, but it is losing market share and momentum. The pace of investment in Bitcoin’s ecosystem has slowed down as the reality has set in about how difficult mainstream adoption will be. With Bitcoin’s first-mover advantage and network effects, it really should be doing better than it is. I think the main issue Bitcoin faces going forward is that it has become the proverbial ‘oil tanker’ of the industry… while it’s certainly massive, it simply isn’t designed to be nimble enough to chart a new course quickly in a rapidly evolving industry.
CT: Bitcoin’s relatively niche status: Perfectly fine and by design, or an undesirable outcome?

This post was published at Coin Telegraph on 2016-09-29.