Topic: BITCOIN MASS ADOPTION? - page 2. (Read 613 times)
A bitcoin developer has proposed using a different denomination for a better term, you do not even need to see the numbers you just ask the salesperson to show you a nice QR code that can also Have a nice coffee LOGO on top of it and you scan with the phone and pay for coffee.
There is a theory that the supply and demand principles do not work on a macroeconomic scale that with mass adoption comes the need for stability however in the case of bitcoin, not stability but volatility increases so it may not be ready for mass adoption.
Well, you should not compare anymore dollars with bitcoin. Hopefully, 1 satoshi will be like 1 dollar ( or 5 dollars, just saying). I mean, that one coffee now usually costs 2$, and then , with btc, basically 1 coffee standard price will be 0.0005 satoshi. Just attitude, after some years will be all normal 
i don't think this would be a problem since everything will be digital by that time, maybe just using your phone to pay, scan some qr code or something then you're good.
we would always need to revert back to the USD valuation because that is what we are use to and is widely accepted by all.A better denomination or nomenclature would have really helped bitcoin adoption.
Your thought is right. You are comparing with fiat money. Think of digital transaction. There might be a solution for this decimal.
Yes, I think that will not be a problem. If it will through digital transaction it will not be a problem. But if it will be compared to fiat transaction it is very different. Maybe it will be converted to fiat value for easy transaction also.
Satoshi does not scare anyone. What is the difference in how the amount will be displayed for payment. But imagine if you need to buy a product for 6000 dollars, it looks quite normal 1BTC.
I think that it is only issue about time. Some centuries ago people didn't think that a cup of coffee will cost $ 1-2. Today most people can't imagine prices in BTC. But nothing is impossible.
The increase in the number of coins mined will increase the supply of bitcoin, and hence with the lift of the ban and sanctions on bitcoin regulation on mass populations by countries in the European Union being lifted, billions of people are now allowed to use bitcoin supporting this increase.
In my opinion mBTC is great for daily use. Community need start to use mBTC. 1 Bitcoin = 1000 mBTC
Yes, you are right but how could we overlook the advantages of bit coin, and the main thing is you don't need to carry it.
The issue to consider is governments and banks can only regulate the entry
and exit to and from crypto so transfers could suffer from taxation because
without anyway to buy goods with crypto the only options are liquidate or hold.
and exit to and from crypto so transfers could suffer from taxation because
without anyway to buy goods with crypto the only options are liquidate or hold.
You don't need banks or exchanges to use crypto buy goods. It only requires that people keep their crypto as crypto! That's not a bad thing, that's the point!
Sure, you gotta use a bank to buy something new, but there are a lot of banks. If your bank restricts you, move on to another bank. Some bank out there wants your business.
This is why we can't see bitcoin as part of the mass adoption in this world. It is just because, bitcoin's value. It fluctuates. And also, the transferring of funds. For example, you have to pay for your coffee? The coffee will go cold as you pay your coffee because of the transaction time.
Till now it is not completely possible but after a period of time it might become mass adoption. Your idea is quite good but after make it $ it is tough to recognize between $ and bitcoin. When government start regulation of BTC bitcon then they make any kind of changes.
This is where we can start to drive adoption. Think about how many migrant works wire money to their families in a home country and how much that costs and how long it takes for those transactions to clear, that's where we can really make a difference using bitcoin
Your thought is right. You are comparing with fiat money. Think of digital transaction. There might be a solution for this decimal.
Agreed.
But most people don't even consider using another form of payment for purchasing than their local currency. They use a card most of the time, they know a price they are paying, that's all they care to know.
How do you get someone to stop using something that works just fine already? Fiat currency for every day transactions isn't broken, that's why people aren't interested in "a fix".
Fiat currency for larger transactions - wire transfers, purchases greater than $1000, cross border payments - is broken. This is where we can start to drive adoption. Think about how many migrant works wire money to their families in a home country and how much that costs and how long it takes for those transactions to clear, that's where we can really make a difference using bitcoin. We need to get those people to use bitcoin next!
I agree with you.
Bitcoins are not suitable for small (daily) payments, the cost are high and need long confirmation time. Eventhough there are LN to improve it, but still there will be many difficulities to make this idea of daily transaction payment go south.
Why bother looking at those numbers if most of the people in the world uses mobile phone just simple scan the quick response code then it's done. If there is a will there is a way, blockchain is the future no one can stop it
I love Bitcoin and the ambition of a revolution from the banks BUT...
Does anyone think that one thing stopping it from mass adoption is the satoshi value?
If I was to buy a coffee it would be B0.00067
People would much just prefer to see $5
What do you think?
Does anyone think that one thing stopping it from mass adoption is the satoshi value?
If I was to buy a coffee it would be B0.00067
People would much just prefer to see $5
What do you think?
I don't think mass adaption or adaption are stopped with Satoshi's value. Just spend time on it. Bitcoin value fluctuates and investors do fall in investing into it with the certainty of its value growth. This causes the value grow more and more and this brings in many investors. This is the way this crypto currency and other currencies grow in the market. What's the use of comparing fiat's with crypto currencies? If the coffee is 5 dollar then pay 5 dollar worth bitcoin. Who stops you from doing this? Mass adaption would certainly happen down the line as everyone realises the benefits of adapting it.
you don't even have to see the number you just ask for the shopkeeper to show you a pretty QR code which can also have a pretty coffee LOGO on top of it (the blow one doesn't have the pretty logo) and you scan it with your phone and pay for coffee. in your wallet you can change the setting so that it shows you the value in $ instead of in bitcoin or in any other unit you like!
[i m g]https://i.imgur.com/2LWGQ3p.jpg[/img]
bitcoin:1PaymentAddress?amount=0.00067
[i m g]https://i.imgur.com/2LWGQ3p.jpg[/img]
bitcoin:1PaymentAddress?amount=0.00067
I like Bitcoin barcodes like this, because if you have a barcode like this we do not have to count satoshi unit to Dollar. so as we go shopping to the Mall, when about to pay for goods, just scan the barcode of the goods and will appear the price. very efficient with there of barcode.
basically when you are using bitcoin you have to use a wallet on some device (phone, tablet, laptop, PC,...) and inside that wallet interface you should have any kind of conversion you like!
for example you may scan this QR and your wallet GUI can show you the amount you are paying in Japanese Yen! it is just a simple multiplication that your wallet does and makes the unreadable QR dots into a user friendly number...
Bitcoin is the digital crypto currency .They have market acceptance because they are the pioneer of this industry. They also maintain a level of quality.
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