Topic: Can Bitcoin Adoption be possible? (Read 239 times)

I think that it is earlier than that because there were bitcoin ATMs around the world before the Tesla selling their cars in bitcoin, Laszlo has bought a pizza in 2010 and I think those are an example of a bitcoin adoption. The moment that bitcoin was used to buy products, services and trade, was I think that the question about bitcoin adoption became moot.

When Tesla is accepting BTC, Jerome Powell declares BTC harder asset than gold.

The 'adoption' question is now officially no longer moot. 

Still some have issues to Bitcoin that's why some don't consider adopting it.
I just think that many or even all could be at least aware already that Bitcoin exist, it is just that they're not that yet interested in investing into it.
It could be because they don't care, they're not tech-savvy enough to learn it, or they just got used to the usual and traditional means of payment.

Yeah it is a pointless question and I agree that the speed of the adoption is slow, I don't think that it is just the price of bitcoin that is affecting it because people doesn't need to buy 1 bitcoin because they can buy satoshis, I think that the pandemic does some sort of contribution to the slowness of the adoption and maybe the blockchain itself contributes too.

Bitcoin adoption is happening right now,so your question is pointless.
The problem is that Bitcoin adoption is just too slow,mostly because of how expensive and difficult it is to buy Bitcoins.I hope that this problem will be solved,sooner or later.
I think that the Bitcoin Core blockchain and the fiat financial system will continue to exist in the next few decades.Central bank digital currencies and cashless societies cannot replace paper money in the near future.
The BTC blockchain will continue to improve and it will grow even further,by getting millions of new users.

We already see bitcoin adoption from a long time ago, but at that time, the adoption process is not fast as today. Today, we already see bitcoin has been accepted in some business industry such as hotel, casino, and especially in the online website as the payment method. We will see the growth of bitcoin adoption from this year, and sooner or later, bitcoin adoption will reach all countries, and people will be aware of this. The process of the adoption itself is still running, and whether now is fast or slow, the process is still running to give benefits for bitcoin to be known by them.

Do you consider people who buy Bitcoins as a speculative investment with the intent to hold it for as long as possible, Bitcoin users? They don't use Bitcoin but only hold it.

If you don't consider that, then the adoption is not significant still. As you can probably see, the fees makes normal transaction expensive and LN is not getting adopted by most of the merchants.

You must be widen your explanation because the word "Adoption" is already existing.

Look how many countries are now letting their people use Bitcoin(and other crypto currency also)?

And even those countries that don't support Bitcoin yet their People is using and investing in Bitcoin.

Also those countries that banned Bitcoin yet there are people in those region that investing in crypto , so what is the adoption your are talking about?

expecting the whole world will accept bitcoin ? i don't think this will even happen.

Bitcoin adoption as what I had mention in my post is what we really called when majority of the people know, agree to it, and even use most likely a common thing or a general term in which people will get use to it and that would be for me is an adoption.

For now, still more people around the world does not know about bitcoin. Those people who were techie enough could experience and use bitcoin but to those who were not still probably learning, no interest at all or no knowledge about bitcoin. The high demand was only one of the indicator that bitcoin has now slowly adoptdd by irs users for their comfort on whatsoever bitcoin use for them.

As I have stated the possible benefits that bitcoin could offer, still there are more things that bitcoin could do and not been listed their because as bitcoiners we have different interest and perception in regards to bitcoin. Meaning there are still more reasons why we have to chose bitcoin. Whatever reasons we have for sure that bitcoin could bring comfort to the people who use it. It surely bring something in which fiat currency could not. This is why I was happy to see more and more bitcoin demand being done as of the current situation and hopefully more in the future.

It's not like adoption of bitcoin is just on the begining level as it's been adopted by those who already knows the difference between fiat and bitcoin. But it's true that institutional adoption is getting started to hype up the market to make the process more easier for those who always been on doubt to take entry or not. From the begining, bitcoin's always been on bullish rally which isn't common on other assets. So, bitcoin adoption is already going on and this time, it's on another level.

I think there's much more to this than it meets the eye. As per the issue above which I think might be a big barrier to wide BTC adoption, there's also the fact that the fees are quite high. This makes small transactions very expensive and another barrier to adoption. Things are improving but we're still a few years away from getting >50% of the world's population transacting in BTC (or crypto for that matter).

Widespread bitcoin adoption is indeed very possible, though the circumstances surrounding its fruition is kinda rough.

One must know that the society is obviously dependent on traditional banking services and payment processing methods right now. It's really hard to transition from one thing to another, most especially if you have been accustomed on doing X your whole life. It would take massive effort from all fronts of the bitcoin movement to make it possible, moreso the cooperation of other industries and the government for this to happen.

It's certainly doable with the right mix of cooperation from all sides of the economy. We can see the utility bitcoin can offer even in our small bubble right now, though there'd certainly be issues along the way, most especially if the adoption happens all of a sudden. Slow and gradual utilization and integration of bitcoin in some of the industries on our economies would be best, and it will definitely happen.

Doesn't most credit cards give you the option to settle your payments online? Cashless society is a thing nowadays.
If you see Bitcoin as a speculative currency that can spike in value at any time, it would never go mainstream. No one would use a volatile currency. Trading is *NOT* easy, you're most likely going to lose money unless you have experience and is able to commit a lot of time to it.
Fast? As in 10 minutes or more if your fees are low 'fast'?

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Every single point that you've mentioned so far is exactly why governments don't want people to adopt Bitcoin. It would be way easier to evade taxes as well as to launder money. If you think that any nations are willingly adopting Bitcoin, you're completely wrong. It's far from being accepted as a legal tender.

Other than that, there are far more technological limitations that inhibits the growth of Bitcoin. How many users can realistically use Bitcoin, if they only make a single transaction a week? As much as I support Bitcoin, there are obviously shortcomings that has to be addressed (or not) which would make it less desirable for governments or normal users to adopt it.

Bitcoin adoption is growing day by day. I don't think bitcoin can substitute for fiat or banks because bitcoin doesn't have the capacity for a big number of transactions in a short period of time. But what I'm sure is that people is investing in bitcoin as an investing tool. Just as they buy gold or diamonds, now they buy bitcoin to make their fortune grow with time.

Maybe you meant to say Bitcoin Adoption?  

I don't know what Bitcoin Adaptation is, but it sounds like some adjustment or change and there is no need for that.

https://www.vocabulary.com/dictionary/adaptation

Bitcoin is already adopted into different parts such as today.

Payments in different ways.
ATM
investments

And more good thing that we now enlighten our selves the use and the purpose of the bitcoin and the only thing needs is the acceptance of the people or in the upper mostly class like the government in different countries few they don't want to adopt the use of the cryptocurrency.

A decentralized digital currency (bitcoin by the subject) is being "imposed" or people have "freedom".  

Which is it?  Bitcoin is about freedom, freedom to use it or not.  Having someone impose using it by force is pretty much the opposite of liberty.  Adoption is happening whether or not people are being forced to use it.  People see the benefits of bitcoin as a way to short the money-printing political people who are willing to destroy everyone for their own power and monetary benefit.

As far as "Adaptation" - bitcoin is adapting all the time, as are many other cryptos.  Hence p2sh,lightning, taproot etc.  It is growing and improving all the time. So yes, adaption is possible, it has happened for more than a decade. I am not actually sure if you meant "adaptation", meaning changing, or adoption, meaning getting people to use bitcoin.  If you mean adoption, well, see above.

In short, both adoption and adaptation are possible and happening without any need to "impose" something on anyone else.

Adaptation is already on going with the current price level even with covid-19. Institutional investors have made it easier as the global awareness is growing and more investors are coming in. In the usage of bitcoin, it is conveniently used as payment system especially P2P .

Read this interview from Reuters you see that in Nigeria and indeed Africa, adaptation have since stated.



You could either create your own thread for every user to see clear and not to hide under this thread he he.

Tl;dr I don't think we should just assume that whenever Bitcoin is increasing in its value there's a connotative adaptation behind that, though we can say that's somehow the most are referring. Bitcoin value was somehow vague since a simple news could mark the price negatively and it even takes month or years, and some will say "I think adaptation failed, the price is decreasing.", that's somehow idiotic imo.

Adaptation comes in different forms but I think it will be for the best of all if price will be out of the picture when we say there's an adaptation. I mean I get we will get into some point that Bitcoin price will somehow become stable, just a wild wild guess but it's a possibility.

Definitely! It's already happening and sooner or later everybody will realize crypto is the future

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post like this is very much 

but my answer is still yes

sooner or later 

government hate bitcoin but they are created their own digital money when this actually happen people will notice bitcoin is the first digital coin and also many institutional adopting it so yeah wait for the time

This post is intended to get sympathy to all bitcoiners regarding on bitcoin adoption.

Bitcoin Adoption,

Bitcoin adoption if it will going to happen (since this has been felt by the other nations who were bitcoin friendly) will be one of the historic event that will going to take place with bitcoin. There are many benefits that this decentralized digital currency could offer to the users to blend with the current fiat currency system. Some may say that Fiat currency is scam but in my opinion it isn't but there are abuses that can be made in the system. Therefore a decentralized digital currency should be imposed and that bitcoin is perfect for the users have the freedom to chose what currency will be use either decentralized digital currency or the fiat currency.

Benefits of bitcoin as decentralized digital currency.

The bitcoin system is being run by its user and it was never been controlled by anybody or any organization to ruled out the bitcoin system. The highlight of bitcoin system are the following.

1. Bitcoin users can do peer to peer transaction without third party involved that can help without exposing our identities when doing the transaction.

2. The blockchain will record and serves as a prove that the transaction has been made.

3. Bitcoin transaction can be done online and the user can avoid the hassle of queiuing especially during long lines when process payments.

4. A bitcoin user can do trading if he has the skills and could earn in it. Aside from trading bitcoin could also be a form of investment like gold in which one can acquire and keep it for some time. Speculations that bitcoin could reach 100K and more in the future.

5. Bitcoin never will stop or end unless every bitcoin users will stop using the bitcoin system. Meaning that the bitcoin system is being run by the users itself.

6. Since bitcoin is a decentralized digital currency, it could be use as a money to transfer from one nation to another nation or country. This means that with bitcoin we could have the real freedom on handling our financial aspects.

7. Every user can get the chance of hiding the real number of money he had by storing it as a bitcoin without everyone knowing your money worth which obviously bank could disclose it anytime when there are third party involve like the government wishes to see it. This means also that banks or government could no longer freeze out money when being stored as bitcoin.

8. Bitcoin could be more reliable and less resources to be spend. When we use fiat money we uses raw materials to make it especially the coins in which it could take a lot of energy in making the coins even the paper money too would be a waste of raw resources and energy. Bitcoin would be more reliable than this because you just need your device in which we had it already like cellphones and laptop as part of our daily living.

9. Bitcoin could give the opportunity to all business establishment as part of the development of their service like online payment accepting bitcoin fast and easy transaction.

10. Instead of burning fiat money one could store it to bitcoin for an odd decision like one wishing not anybody could inhereted his money that instead of giving it to someone one could decide to store it as bitcoin and all bitcoiners could benefit to it. There is no such thing as dead bitcoin and it will add as earnings to those who were doing trading or investment with bitcoin.

I did not mean that fiat currency should be abolish but I am saying that bitcoin should exist as counterpart to fiat currency system when it comes to use. As I have reiterate that decentralized digital currency like should be an option for us the users to get more freedom in financial aspects. Freedom where we can do whatever we want with our financial capabilities.

This is just my opinion and wishes for bitcoin adaptation especially nowadays that bitcoin demand is high. High demand for bitcoin means as indicator that bitcoin adaptation could be possible and if it does then it draws near.

Do bitcoin adoption could happen?
What do you think?

Edit: Thanks to @dkbit98