Bitcoin Adoption Will Increase 50% above Its current level in the coming Year

Ojima-ojo

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Yes...
Because bitcoin has been priority now must youths are doing it last few years many company does not accept buy now they're even waiting they should bring the bitcoin so you can bitcoin is gradually increasing.

The rate of Bitcoin adoption is increasing day by day and for sure, Bitcoin will be able to gain widespread adoption even though there have been a lot of bad events lately that could delay the rate of accessibility to bitcoin and also given the entire crypto market some bad moment which drags the price of Bitcoin to where it is presently.

Bitcoin adoption is gaining more ground, and if countries are now beginning to adopt Bitcoin and other digital asset then we are.closer to Bitcoin becoming a mainstream asset and a global financial tool.

Z-tight

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Quote from: Ojima-ojo on November 29, 2022, 06:47:26 AM

very hilarious of me to think that way, and this way of thinking get me looking like a joker but on a more serious note the statement was actually born out of my personal observation and predictions.

Since it is just your personal prediction, that should make this topic fit for the speculation section and not here. BTC adoption is going to gradually grow, BTC is an alternative in most fronts, and you don't expect people to start using it massively, even though they should, and many people who want to spend BTC can't find where to do it in their locale. BTC is volatile too and in my humble opinion it affects adoption in two ways, one is that people want to hold on to their BTC as an investment and watch their return on investment grow, and two is that merchants do not want to directly receive BTC for their goods, hence the fiat value drops and they run into loss. These problems and more would all go away, but surely not in the 'coming year' or years.

Dunamisx

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Quote from: Ojima-ojo on November 28, 2022, 04:05:07 PM

The Rate of bitcoin adoption will increase 50% above it present percentage in the coming year, I know from second quarter of 2023 there will be an increase in demand for information technology, and a lot of software developers will be working from home and in other to make online payment seamlessly easy Bitcoin will be the ultimate solution for internet settlement since Bitcoin is trance border currency and also the internet mo et without restriction.

This has always been the normal experience with bitcoin over years and the adoption has keep increasing till we get to where we currently are with bitcoin, there's no reason to doubt about the global interest on bitcoin been the most search word on the internet, many have make alot of benefits through this, bitcoin serves as currency and asset unlike other currencies which later turns a liability to an extent because of drop in value, so there's more possibilities that after this year and beyond we continue to have an ever increasing adoption with bitcoin.

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Quote from: Ojima-ojo on November 28, 2022, 04:05:07 PM

The Rate of bitcoin adoption will increase 50% above it present percentage in the coming year, I know from second quarter of 2023 there will be an increase in demand for information technology, and a lot of software developers will be working from home...

I don't think anyone can say with certainty that it will be 50% or only 10%, but it's a bit frivolous to say that it will happen next year for the reason that many developers will work from home as if they haven't been doing it for the past 2-3 years for obvious reasons. Adaptation will undoubtedly continue, but the fact is that everything slows down a bit when we are in a bear market, and as things stand now, it is possible that it will continue through most of the next year.

As I have already written several times, the biggest problem is that the majority invest in Bitcoin exclusively for the sake of profit, and only a small part uses it as a currency.

CryptSafe

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Well, I would say this statement might be based on assumption as there are no facts backing it up but come to talk of it, the whole wide world is yet to adopt Bitcoin as there are people out there that are still yet to hear about Bitcoin and how it works. I have come to realize from the campaign I have engaged myself in for sometimes now, permit me to use the word " lower class" are yet to know anything about Blockchain and Crypto not to talk of Bitcoin. I think we as a body here we need to get engaged in Bitcoin Promotion in our various locality so that the middle class can get to know about Bitcoin. This would help boast the wide and massive adoption of Bitcoin in our various locality.
I think your topic as clearly stated is a call for more active participation by members in Bitcoin Promotion in their various locality in one way or form or the other so as to surpass the 50% as stated.

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Quote from: Ojima-ojo on November 29, 2022, 01:11:46 AM

Yeah and that is why Bitcoin becomes the best alternative, PayPal or wired transfer are all centralized method which have some restriction, but with Bitcoin all a user need is the wallet and the private keys to receive payments.

This make bitcoin unique as a financial tool!

It's the best outside of stablecoins if both PayPal and wire transfers(and probably other money transfer platforms) are restricted. Majority of people will simply not see the importance of bitcoin/crypto if they don't become censored(one way or another) themselves.

Ojima-ojo

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Quote from: DdmrDdmr on November 29, 2022, 04:19:10 AM

Quote from: Ojima-ojo on November 28, 2022, 04:05:07 PM

<…>

I find it more wishful thinking than anything else. There is no hard evidence pointing anywhere along these lines as far as I’m aware of, and bitcoin simply is not that widespread in terms of places that accept it to make it a killer means of payment. The IT sector has actually been booming throughout the pandemic, alongside online shopping, and that hasn’t seemingly caused much of a ripple in bitcoin adoption. I can’t foresee why the situation would change in 2023 solely along these basis, and certainly not along those lines in terms of increase.

very hilarious of me to think that way, and this way of thinking get me looking like a joker but on a more serious note the statement was actually born out of my personal observation and predictions.

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When you talk of 50 percent adoption well is not arguable but from my view with such percentage is good enough for the entire globe to adopt it. If I may classify percentage to world adoption, 50 percent is half of the world while the rest 50 is yet to be.
As year keep going it's a gradual process which I felt even till 10 years or more to come the adoption will keep taking place, bitcoin has came to stay and it will remain forever.

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Quote from: Ojima-ojo on November 28, 2022, 04:05:07 PM

<…>

I find it more wishful thinking than anything else. There is no hard evidence pointing anywhere along these lines as far as I’m aware of, and bitcoin simply is not that widespread in terms of places that accept it to make it a killer means of payment. The IT sector has actually been booming throughout the pandemic, alongside online shopping, and that hasn’t seemingly caused much of a ripple in bitcoin adoption. I can’t foresee why the situation would change in 2023 solely along these basis, and certainly not along those lines in terms of increase.

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Who said Bitcoin adoption will increase 50% in the next year? if it's from your words, then I'd say it's 0.01% will happen since you're not doing any analysis and just blindly said with your own assumption.

Remember even though Bitcoin transaction is borderless and there's no one can restrict Bitcoin payment as you have internet connection, most people are using their exchange as their wallet and still use centralized exchange to trade their coins. Centralized exchange can ask your KYC and if they feel there's something suspicious on your account, your account will be frozen and you can't withdraw your coins.

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Quote from: Ojima-ojo on November 28, 2022, 04:05:07 PM

The Rate of bitcoin adoption will increase 50% above it present percentage in the coming year, I know from second quarter of 2023 there will be an increase in demand for information technology, and a lot of software developers will be working from home and in other to make online payment seamlessly easy Bitcoin will be the ultimate solution for internet settlement since Bitcoin is trance border currency and also the internet mo et without restriction.

This might happen, but it will vary from country to country I guess. There are still many countries who don’t like Bitcoins due to it’s decentralised nature. So yes adoption rate will be higher, but it won’t happen on a public notice level. I agree that each and everywork is now being done with internet, so definitely Bitcoins will play an important role in the internet financial ecosystem. Moreover once Bitcoin also gains pace and increase in price, definitely more people will think of using it.

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The adoption rate of bitcoin will also increase but I don't know how much it will increase because it will depend on how much attention people pay to start trying to invest in bitcoin. If more people started to believe in the power of bitcoin, it would give more support for bitcoin to rise and help spread bitcoin in more places. But it's best before people start investing, they also have to learn about the right and proper way to invest in bitcoin so they can know about the risks too.

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Bitcoin Futures Market Is On The Verge Of A Bullish Signal.

The crypto market has seen positive reactions from the investors as they remain in a base zone of stability by investing into the downtrend and trying to pull the market out of its downward spiral. This will definitely lead to bullish signal for bitcoin. I am hoping for the price as high as $18,954.37 by the end of 2022 and $43,959.19 (as per crypto expert at Coinpedia) by year 2023.

Ojima-ojo

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From what I understand, there are several metrics to measure bitcoin adoption at any given time.

-Number of Blockchain Addresses
-Number of Transactions per Day
-Average Daily Transaction Value
-Number of UTXO's
-Use Cases (Bitrefill, Binance (top exchange), Trezor (hardware wallet), have directly correlated to the price increase of BTC hands down.)
-Total hash rate (it was at an ATH the other day, despite miner revenue's plummeting and electricity bills soaring)
-How much do the top 1% of wallets hold? the next 49%? the rest of the 50%?

Obviously some metrics such as number of addresses, top holders vs. least funded addresses, and a number of transactions are kind of ambiguous if you are trying to calculate real human actions. From the way the space is, many individuals manage multiple wallets that are created and destroyed on the fly, money sent to and from them for the sake of obfuscation, and even exchanges trading crypto within artificial accounts between each other to display false volume.

The way the world is going now, people are going to dump their fiat for crypto. That's the way I see it.

The number of bitcoin wallets vs the balance on the network and also miners' hash rates are all determinant factors to point out the level of bitcoin usage and that being said exchange and other services are just one segment of the entire network, when the numeric is accumulated in total then the can conclude the level of adoption.

And considering the level of Bitcoin adoption in terms of usage and also the network engagement we may see a rapid multiplication in volume in the Bitcoin network.

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The "work-from-home" solution has increased, but how do you extrapolate from that, that businesses will switch to a new payment option, with new challenges? I know several businesses that complained about payroll challenges, after they switched to Bitcoin payments. (Volatility of the Bitcoin price / Tax implications & administration)

The key thing for increased Bitcoin adoption by businesses is this ===> The new solution must be cheaper & faster ... and without added challenges. Wink

Ojima-ojo

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Quote from: mk4 on November 28, 2022, 10:51:29 PM

A person with a lot of work-at-home friends here — literally all of them still use either wire transfers or PayPal to receive their wages, not bitcoin/crypto. It's unlikely for the typical person to use bitcoin/crypto unless PayPal isn't available.

Yeah and that is why Bitcoin becomes the best alternative, PayPal or wired transfer are all centralized method which have some restriction, but with Bitcoin all a user need is the wallet and the private keys to receive payments.

This make bitcoin unique as a financial tool!

Iroh

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Quote from: Ojima-ojo on November 28, 2022, 04:05:07 PM

The Rate of bitcoin adoption will increase 50% above it present percentage in the coming year, I know from second quarter of 2023 there will be an increase in demand for information technology, and a lot of software developers will be working from home and in other to make online payment seamlessly easy Bitcoin will be the ultimate solution for internet settlement since Bitcoin is trance border currency and also the internet mo et without restriction.

While we’re all being optimistic about the growth and adoption of bitcoin, we should be also be realistic.
I doubt the rate of bitcoin adoption would increase by 50% more than what the current percentage in the current year. I wish it were so but sadly, I would disagree with you. 50% is a pretty much high percentage.

Perhaps you know something everyone on here don’t. You stated that you know from the second quarter kit the year 2023, a lot of software developers would be working from home. Why is that? Would there be another pandemic that would make the world shut down again?

We recently just got out of a pandemic where we had to shut down business and most people had to work from home and that didn’t increase the adoption by 50%.

laurenB7742

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It is impossible to provide an exact number on the growth and adoption of bitcoin, however, there is one thing for sure: bitcoin is growing and adopted at an increasing rate year after year. In 2017 very few shops accept bitcoin but only in the last few years especially in 2020 till now bitcoin acceptance is happening at the big company level even the national level. It can be said that bitcoin adoption is growing exponentially along with the growth in the price of bitcoin.

worle1bm

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We can say that bitcoin adoption is increasing day by day but not specific percentage of 50% rise as there is no statistical data to validate the amount.As others have said the normal wage workers are more interested in getting paid in legal cash to avoid volatility as it's the only source of their income.But if you consider it on the investment purpose then definitely in coming years it would be on the rise.

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Quote from: Ojima-ojo on November 28, 2022, 04:05:07 PM

The Rate of bitcoin adoption will increase 50% above it present percentage in the coming year

Adoption rate (speed) is different from adoption itself. I honestly don't see adoption increasing by 50% in such a short time since it has taken us 13 years to reach this much adoption. But the rate/speed changing is possible specially after the recession in West reaches its height.

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Quote from: Ojima-ojo on November 28, 2022, 04:05:07 PM

The Rate of bitcoin adoption will increase 50% above it present percentage in the coming year, I know from second quarter of 2023 there will be an increase in demand for information technology, and a lot of software developers will be working from home and in other to make online payment seamlessly easy Bitcoin will be the ultimate solution for internet settlement since Bitcoin is trance border currency and also the internet mo et without restriction.

Its possible that Bitcoin usage would keep increasing every year if people are becoming aware of it. Bitcoin has so many benefits that I think most people would like to enjoy if they are aware of it. But a bullish market or price seems to be the biggest form of attracting for Bitcoin investors or users. Most people don't like investing or using Bitcoin when the price is dropping because of the fear of the unknown. They prefer buying it at a very high price hoping that the price would keep increasing.

Developing nations that have a high population of unbanked people might be a very good target for Bitcoin education or awareness. But these individuals also face other challenges such as lack of access to electricity, mobile phone, internet, and some of them are suffering from poverty. But i am sure that Bitcoin awareness and education is one of the most potent tool that would help in the increase of Bitcoin adoption.

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Quote from: Ojima-ojo on November 28, 2022, 04:05:07 PM

The Rate of bitcoin adoption will increase 50% above it present percentage in the coming year, I know from second quarter of 2023 there will be an increase in demand for information technology, and a lot of software developers will be working from home and in other to make online payment seamlessly easy Bitcoin will be the ultimate solution for internet settlement since Bitcoin is trance border currency and also the internet mo et without restriction.

people's understanding at this time has begun to open little by little about cryptocurrency / bitcoin.
surely it can be predicted that in the coming year there will be a fairly significant increase in the adoption of bitcoin or other crypto.
with increasingly sophisticated technology, it becomes a buffer or a supporter for the advancement of bitcoin.
but the increase will not reach 50%, maybe in the range of 30-35%,
because with past events, surely it will also affect bitcoin.

hatshepsut93

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And from where do you know that in Q2 2023 there will be a boom of remote jobs for software developers? What would cause this?

And why do you conclude that they will use Bitcoin? We already have the precedent of covid-19, which forced people to work from home, and it didn't increase Bitcoin's adoption significantly. That's because there's a wide variety of fiat payment methods, and people see no reasons to use it instead of them.

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^ Not using for now. I have seen some local currency payment apps adding BTC to thier list so this should make people interested especially in the bull run.

50% of the entire population, I think we can achieve more than $100k/BTC for this adoption rate. Currently, afaik we have less than 10% still. The adoption in developing countries are faster and much needed because of the number of unbanked people.

mk4

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A person with a lot of work-at-home friends here — literally all of them still use either wire transfers or PayPal to receive their wages, not bitcoin/crypto. It's unlikely for the typical person to use bitcoin/crypto unless PayPal isn't available.

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Quote from: Fundamentals Of on November 28, 2022, 09:51:15 PM

the capacity of the Bitcoin Lightning Network is almost 4,000 BTC already.

most of that is bitfinex locking up value. not for current users but the potential of future users.. its basically setting up liquidity for a "if future" not any current stat of current utility.

also comparing bitcoin adoption. to things like
"custodian users"
"subnetwork users"
"sidechain users" is not true bitcoin adoption

if people do not experience the self custody life of actually having funds on their bitcoin network key, where they can move funds without a channel partner or middleman agreement. or have to pay the network fee's and see their funds confirmed and settled in the immutable ledger of the bitcoin network.. they are not actually using bitcoin

balances on websites, other networks: lbtc, wbtc, msat are not bitcoin

bitcoin never leave the bitcoin network. and that the beauty and security of it

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Quote from: Ojima-ojo on November 28, 2022, 04:05:07 PM

The Rate of bitcoin adoption will increase 50% above it present percentage in the coming year, I know from second quarter of 2023 there will be an increase in demand for information technology, and a lot of software developers will be working from home and in other to make online payment seamlessly easy Bitcoin will be the ultimate solution for internet settlement since Bitcoin is trance border currency and also the internet mo et without restriction.

The rate of adoption is growing each year, this is something that we know it is happening but an increase of 50% in a matter of months seem like a huge increase if you ask me.

Besides this is something difficult to quantify, as not only we cannot tell how many of the addresses which present activity for the first time belong to new investors or simply to someone that creates a new wallet, and if we were to make a survey the results will be useless as a lot of people will refuse to reveal they are holding bitcoin at the time as it is simply not a good idea to reveal that information to anyone.

Fundamentals Of

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It is slowly happening. It is probably the most efficient way to send large amounts of money across nations. It would be fast, cheap, and smooth. There won't be any bank or government approving of the transaction. Everything could also be discreet.

With regards to smaller transactions, the Lightning Network is also gaining speed. It has been reaching ATHs. Today, the capacity of the Bitcoin Lightning Network is almost 4,000 BTC already.

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if you say the next year is 2023, I also believe there will be an increase in adoption for bitcoin where as we know 2024 is the initial cycle of the increase in bitcoin to determine whether it gets the best/highest value
now the question will be whether the cycle will be repeated or will advance one more year, because as we know the period of inflation also overshadows the finances of every country

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Quote from: Ojima-ojo on November 28, 2022, 04:05:07 PM

The Rate of bitcoin adoption will increase 50% above it present percentage in the coming year, I know from second quarter of 2023 there will be an increase in demand for information technology, and a lot of software developers will be working from home and in other to make online payment seamlessly easy Bitcoin will be the ultimate solution for internet settlement since Bitcoin is trance border currency and also the internet mo et without restriction.

We're sure that the adoption will increase but I just don't know what the percentage will be. Since the pandemic started, the setup of working from home has been in demand and this makes it easy for those that still not aware of what bitcoin is to have that idea.
And that is because they'll be focusing more on the web and it's very likely that they'll research bitcoin. But, it's not just going to be limited to software developers, it's for the most that has the access to the internet whether they WFH or not.

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The adoption of bitcoin keeps increasing with time. This is out of the interest people have over it. People try to understand it well. Huge number of people find it as an investment and not as an alternate to the traditional fiat. Based on that, there is less chances of bitcoin getting used as regular transaction asset for the reason more software developers work from their homes.

Adoption rate increasing at 50% won't happen. Such thing could happen associated with some special events. The next special event is supposed to be on the year 2024. Maybe by then such a massive adoption could happen.

Ojima-ojo

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The Rate of bitcoin adoption will increase 50% above it present percentage in the coming year, I know from second quarter of 2023 there will be an increase in demand for information technology, and a lot of software developers will be working from home and in other to make online payment seamlessly easy Bitcoin will be the ultimate solution for internet settlement since Bitcoin is trance border currency and also the internet mo et without restriction.

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