Topic: Bitcoin adoption growing stronger everyday - page 5. (Read 1013 times)

It is just to note that digitalization is growing which brings crypto adoptions suitable for it. Bitcoins had somehow given a comfortable way of paying bills and any payments which is a reason why people are also encouraged to use them. But many establishments and merchants are not fully ready yet to accept and give this option, they still need time and of course, they need more knowledge about the process as well. But slowly it gains more interest to them and sooner they will open for such payment option.

No! The reason for the growing adoption is because bitcoin has proven that it is reliable and trustworthy. It has survived many false death given to her by the people. It has survived many harshness and bad news and it cannot be controlled by any single authority. I think this is why Bitcoin adoption is growing steadily.

It’s true, as days are passing the rate of adopting Bitcoins is increasing. The reason for this is very simple. The coins are limited in number, that is not more coins can be created or made. Hence Bitcoins are very much valuable, and people knows the worth of it. As time will pass it will become more rare, and hence due to the increase in demand it’s price will go up, hence more people are buying the coins and we are witnessing a greater rate of adoption for the coin. Let’s hope for the best.

I don't agree with this. It's not mean you adopt Bitcoin, you will always threat it as an investment. At first, it is much better to understand how Bitcoin works and learn what Bitcoin can do and how it will help people, especially for the day to day living.
If you are just here for investment, then you must even try to understand how Bitcoin works, because if you invest on things that you don't know, it's useless.

There is no doubt that bitcoin is spreading to many places, not just your locality. It has even reached the remote countryside where I live, people are spreading about bitcoin a lot. But one thing I need to admit is that people are learning about bitcoin and looking to bitcoin for investment reasons. In general, people want to get money from bitcoin, and they want to get rich from bitcoin, not because of its utility or privacy. Bitcoin adoption will continue to spread rapidly if bitcoin continues to maintain its volatility, otherwise I think people will lose interest in it.

I believe that besides the financial pressure many people are currently experiencing and hence have less money at their disposal for investment activities, the bad news really did their part as well. For an industry that is still largely unregulated and not officially audited, cases like that of FTX were the necessary consequence in my opinion. It is like the crypto sector has seen a smaller version of the 2008 financial crisis when the auditing and rating processes were a complete failure or maybe not even existent (when you take mortgage backed securities as an example).


The case of FTX certainly engendered mistrust by probably many people who might have still been on the fence of tapping their toes into the crypto waters. When we now found out how FTX has actually been operated, I think pretty much everyone of us was shocked to say the least. Excel sheets and some freeware kind of accounting software to operate a multibillion dollar industry heavy weight and a boss (SBF) talking completely wild stuff on the internet should have been enough to stop it in a timely manner if regulation would have been in place in terms of internal and external controls. I know it is against the sentiment of decentralization and so on, but hell now we know how risky it actually was to deposit any money on the FTX platform...

These major events do slow down adoption I am convinced. But anyway, this current stagnation is also multifactorial as there are a lot of uncertainties in the world and people do think at least twice how to manage their assets.

One of the key factors in Bitcoin's enormous bull run up over the years has been the presence of prominent investors. The market for bitcoin is currently experiencing obstacles due to significant dumps hitting the project in the bear market, an increase in the trading volume of bitcoin, and limitations placed on it by several nations out of concern that it might outperform their faltering fiat currency. Because there is no third party to witness the stocks available in private wallets, the adaptation of bitcoin really increases the anonymity of ownership of crypto assets without the need for a bank or firm.

In Ecuador I have seen several businesses that have the option of buying and paying with bitcoin, and it is something that I like, I have not done it yet, but I want to do it, I have not done it also because of a small doubt that assails me, if I pay with bitcoin and I give my ID so that is recorded in the Ecuadorian government? and will always generate a record type? because this country has not applied it but if they apply taxes I am already registered and I am not from this country, I am from another country, it scares me after they say that an immigrant is paying with bitcoin and they can charge me, that is what scares me and I refrain from not buy.

During the previous bull run, adopting bitcoin was mainstream. But I haven't seen any significant changes that would drive the price of bitcoin so sharply for a very long time. The past year has actually seen a lot of negative news and events that have pulled Bitcoin back. I haven't noticed any significant developments in Bitcoin lately that would be sufficient for a significant push. Even a slight market adaptation by Switzerland has not yet occurred. The reason for this is that the current state of the world economy prevents us from anticipating a new adaptation trend.

I am not surprised at the growth rate and adoption rate of Bitcoin all over the world. I would have been surprised of this was not the case. The number of people businesses communities and support groups creating awareness about Bitcoin has in my own opinion tripled since 2011 when bitcoin was just $1. Why are we seeing this happening I think economic factors, socio-political factors, religious factors and individual factors. I will not fail to mention that even governments that try to suppress or banned bitcoin is actually making bitcoin popular among her citizens take for example my nation Nigeria where bitcoin was banned a couple of months ago but then the surge in citizens moving their cash from naira to bitcoin increased and more people adopted it.

If the op is from Nigeria, I understand where optimism is coming from. But you should know that despite unfriendly legislation, Nigeria is pretty famous for its inspiring level of crypto adoption. There are also a few other places, and, as some mentioned, that includes Lugano, which are focused on Bitcoin adoption heavily. That being said, there are plenty of countries that are very different, and I'm honestly not sure Bitcoin will ever be accepted globally the way it's currently accepted in Bitcoin cities and similar. The main obstacle to such adoption is that people tend to use Bitcoin as an asset, as a form of investment. And you don't buy groceries or a public transit pass with investment.

One of the best means of projecting Bitcoin for more adoption is when a highly influencial persons uses it for transaction just like what the mayor of Switzerland did by paying for goods and services with it, his singular act will enable more citizens of that country to have confidence and trust in Bitcoin and to erase the mind of some people who view Bitcoin as a Ponzi scheme, if not for government restrictions and ban placed on Bitcoin by some countries the adoption of Bitcoin would have grown leap and bound nevertheless the growth and global adoption of Bitcoin is unstoppable despite those hiccup caused by the crypto unfriendly countries.

More institutions are catching the bitcoin fever. They are interested. They are studying it, and they are getting in.
The long-term potential of bitcoin could be seen as one of the factors that are pushing institutions to adopt bitcoin. As we may already know, the market cap of bitcoin is around $446.40 billion and it is large enough as an asset class for institutional investors.

Up until now, bad impression towards this industry do still exist and we just cannot change how those people percieve this industry. It would also much better for those who are really not into cryptocurrency to stay away from this technology since risk is actually present because of the market price volatility. If they would choose to still continue towarda Bitcoin perhaps by means of investment, they'd more likely be drowned by losses which are temporary especially during bearish market. Regarding negative image, I guess that would be a balancer for this industry. Atleast people won't be too positive towards crypto. Risk cannot be avoided so atleast they would be aware in the first place.

Infinity? Meaning endless adoption. Well, I don't think that gonna happen because we actually never know how long this crypto will exist. It was a growing technology and people took advantage of it while it was still available, that's it.
As the adoption continues to grow, that will also encourage the government to participate and make part of it. And most likely, the more they will pressure to regulate and control the spread of crypto in their place. And this could also be the reason why people hate it.
We are happy today because it was tax-free but 10 years from now, might the government will hunt crypto users/holders to pay for their taxes.

Bitcoin adoption will keep on spreading till infinity,the only thing that can stop the spread,is if there is a new technology system which will superceed bitcoin blockchain network. Without this happening,nobody can stop the spread and adoption of bitcoin because it has come to give the people freedom from centralized captivity.

In my locality,the increase rate of adoption is something that can't be compared with the previous,since people have begin to understand the benefits using bitcoin or having it as an investment. A time will come that the government will no longer be able to stop bitcoin adoption in their country.

Unlike before that Bitcoin has been labeled as a scam or sometimes it's been called a scheme for those people who has bad intentions, in todays generation Bitcoin has been widely recognized by so many people and they already accepted the existence of crypto which is already a part of our economy although not all of them truly legalized it.

One of the major reasons why people knew about Bitcoin is through social media platforms and the rise of the tech industry in which people nowadays can easily access or afford mobile phones.

Become one of the real adoptions of using Bitcoin, paying for goods and services using bitcoin or some other crypto payments.

The system used may be the same as other adoptions, Bitcoin is an Optional payment because payments are also available using USDT or LVGA (Logano's local stablecoin). Bitcoin becomes a payment gateway which then after the seller receives their bitcoin will automatically be converted into the form of Fiat currency, so that no fluctuations occur because Bitcoin is directly converted.

Third-party Crypto Payment Gateway (e.g., BitPay, CoinGate, Coinbase Commerce, etc.)


The application used is also available because they use the MyLugano application as a wallet and for payments directly using a smartphone. Bitcoin adoption must also be prepared with a special application that supports payments for bitcoin or another crypto.

In addition, after I saw a video using bitcoin as a payment in Lugano, there is a 10% cashback for payments using Bitcoin, USDT and LVGA. The cashback given is in the form of LVGA points which can only be spent in the city of Lugano and cannot be exchanged with Fiat.


 Lugano became quite an extraordinary city with the adoption of Bitcoin. and October 20-21 2023 there will be the Plan ₿ Forum Lugano event which is a premier Bitcoin conference that brings together world leaders, technologists and entrepreneurs to discuss bitcoin adoption, economy, financial freedom and freedom of speech

https://planb.lugano.ch/planb-forum/

The information is giving to people every day at everywhere. But to adopt or accept bitcoin is a personal thinking even when someone is informed on bitcoin and another thing is for the person to decide whether to accept or not. Many people still not believe on bitcoin reality. And other or some are adopting it because of the evidence seeing from the the per who introduced the bitcoin to them.

Yes, that's true. The use of Bitcoin payment and investment is growing globally, with more and more individuals and businesses recognizing its potential but at same time Despite some small businesses in Nigeria accepting Bitcoin, the lack of support from local banks and the government make hurdles that the crypto still faces wider acceptance.