How can we accelerate the mass adoption of crypto? - page 2.

Swapzone_pr

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Quote from: bayyildiz on October 18, 2021, 03:02:11 AM

I just saw this topic "What problems in Bitcoin's infrastructure prevent it from being adopted more easily?". All the answers were really interesting, mentioning the lack of regulation, volatility, ignorance, etc.

My question is: How can these problems be solved? And is it ever possible, what do you think?

In my opinion, regulation, practicality, and stability are definitely required for the mass adoption of crypto as a payment method/currency.
What are your opinions on this?

Blockchain, cryptocurrency and Security Token Offerings will find their place in the technology and investment world. The current market demographic is a fraction of what it could be and fostering adoption means taking the space out of obscurity. Having the foresight and seizing the opportunity to participate in regulatory development will foster adoption and ensure a lasting place in the blockchain history books.

lucates

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Quote from: Fesatmas on October 18, 2021, 08:30:45 AM

As has been going on until now, crypto adoption especially Bitcoin, has increased from year to year. Even though we want to emphasize that it continues to be adopted quickly, it will never be realized if every regulation limits it. We cannot force adoption in any way. Except every regulation in different countries has its own interest in Bitcoin and let them experience the benefits first.

But if we evaluate the growth of adoption then we have realized that by the end of 2021 adoption will increase significantly.

Mass adoption of crypto is a topic which frequently discussed among members of crypto community. How can we accelerate? Accelerate is about how someone is get into this that's people get exposure to crypto.

Here mass adoption happen is they should know, what is this? How to invest? Where to invest?
Now is not about talking or listening.Now they can actually enter into the crypto world. Within a matter of few minutes we can available the platform like insta or any other which they can use, they would be able to their first investment to crypto.
So the thing we can do is to make the people aware about this. And give a genuine feedback from your experiences because I believe user experience is the key to accelerate the mass.
Nowadays where online campaigns can have a surprisingly big impact on the market price of anything. Be aware about that.

But still many have a doubt to accept it. Maybe legality and volatility are the major reasons. This part government should interfere and need to fix the existing mess.

24Kt

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Quote from: GeorgeJohn on October 30, 2021, 06:40:06 PM

When looking at the nature of things, it's audible to the deaf and very clearer to the blinds that bitcoin is not longer a scam zone of life, before now people were criticising bitcoin tagging it different names, but it has come in conclusion and in reality that bitcoin is legit, only that people that were castigating it is now adopting it's protocols, no need for we to search for further method for adoption by the masses, because people is already adopting the use of bitcoin by they self's, so from my views bitcoin is selling itself because of it's good news.

It will take time for people to get acquainted with crypto but yes, the perception towards crypto is getting positive as there are more top institutions and companies that are getting into crypto market. So the trust is building up. And don't forget, there's El Salvador, the first country to make bitcoin as legal tender. So people will be curious about the move of El Salvador as they made it legal tender in their country. So the notion of being scam definitely will go away.

GeorgeJohn

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When looking at the nature of things, it's audible to the deaf and very clearer to the blinds that bitcoin is not longer a scam zone of life, before now people were criticising bitcoin tagging it different names, but it has come in conclusion and in reality that bitcoin is legit, only that people that were castigating it is now adopting it's protocols, no need for we to search for further method for adoption by the masses, because people is already adopting the use of bitcoin by they self's, so from my views bitcoin is selling itself because of it's good news.

Stalker22

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Do you think that the blockchain technology is going to be used widely, and not just for money transfers?

Personally, I believe that crypto and blockchain are the future, not only for currency, but for other industries as well. There are so many amazing things that the blockchain can be used for. Like information and data storage, tools for providing social services or business processes, security, people management and so much more. It could be used for anything.

King Raymond

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First of all, I think crypto adoption should start from the government. Economy and finance of countries are controlled by the government. If there's a serious plan to boost adoption of cryptocurrency, it should definitely start from the government.
Secondly, as stated earlier, volatility, fraud, etc, are major impedances of cryptocurrency adoption. If this is tackled and proper information about cryptocurrency is passed, there'll definitely be more people/businesses making use of cryptocurrency all around the world.

Oilacris

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Quote from: V-t.Ester on October 30, 2021, 02:49:39 PM

Sadly, but it’s true. Now is the time when everyone wants BTC. On one hand it seems positive that governments of many countries adopt laws about crypto and make it legal. On other hand, governments are forcing exchanges to make an obligatory KYC, because they want to control crypto and to get taxes from all transactions. However those KYC are sweet pieces of a pie for all the hackers who know the ways and have opportunities to steal user’s data. Indeed, you know just such a time that we should just not tell anybody about any crypto possessions.

Stay low key and never intend to show off your crypto possessions if you do like on making yourself safe away from hackes and criminals.

KYC is indeed just a very casual thing to happen since regulation is always there and government would normally be touching up crypto and trying to regulate all they want but turns out that they cant really just able to do so.

Adoption is indeed moving but we cant really expect that we could go with full scale but at least we are really heading on something better
than on previous years.

V-t.Ester

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Sadly, but it’s true. Now is the time when everyone wants BTC. On one hand it seems positive that governments of many countries adopt laws about crypto and make it legal. On other hand, governments are forcing exchanges to make an obligatory KYC, because they want to control crypto and to get taxes from all transactions. However those KYC are sweet pieces of a pie for all the hackers who know the ways and have opportunities to steal user’s data. Indeed, you know just such a time that we should just not tell anybody about any crypto possessions.

Luzin

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Quote from: Hypnosis00 on October 23, 2021, 01:48:25 PM

And it is started in El Salvador, we are looking forward to seeing this will accelerate the adoption as many countries will know this. Cuba, Venezuela, and many others are going to follow but somehow, as we can see that it wasn't that fast as it moves and the reason is that how the government is responding to such demand in regards to legalization, was very slow. Maybe if they just work it faster and set aside their own agenda like collecting tax for all crypto holders, this could really help to fasten the adoption.

I think the main issue of adoption is government regulation. I think there are still many who think that blockchain as a crypto technology is a threat to finance in a country. Though I think it's just a matter of setup to get it done. Adoption is actually quite wide, taking advantage of the technology not as a means of transaction may be slightly better, because it is not a threat as fiat currency. Although I'm sure maybe in the next 10 years the adoption and recognition of crypto will only increase.

add1ct3dd

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Quote from: bayyildiz on October 18, 2021, 03:02:11 AM

My question is: How can these problems be solved? And is it ever possible, what do you think?

In my opinion, regulation, practicality, and stability are definitely required for the mass adoption of crypto as a payment method/currency.
What are your opinions on this?

Personally, I don’t think that is going to be possible to regulate cryptocurrency directly, except the ones that are centralized from the start. The only thing they can do is to have more centralized exchanges and wallets that will be regulated by the government. Then as for volatility, I don’t think there’s anything that we would be doing about that, I know that it discourages a lot of newbies from becoming part of the cryptocurrency community, but at the same time it is what makes a lot of people to enjoy being part of the community, because they are benefiting from it.

Lastly I think this is a process and it isn’t something that we’re going to have to rush, as time goes on people will be adopting it.

V-t.Ester

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I think that the best we can do is not to rush events. Traders just need to invest and trade BTC like they do it every day. It comes up that the steady increase of BTC’s price and positive news about this in mass media popularize and accelerate the mass adoption of BTC better than anything else. Putting the possibility to buy products in internet shops in BTC, nice BTC advertisement pictures and good discounts for people who buy in BTC can also promote and make people to get interested in it. Only with big volatility we can do nothing but accept and use it.

BIT-BENDER

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Quote from: bayyildiz on October 18, 2021, 03:02:11 AM

In my opinion, regulation, practicality, and stability are definitely required for the mass adoption of crypto as a payment method/currency.
What are your opinions on this?

I think so too, but easier said than done, and I think the hardest part is the regulation, subsequent practicality because alot of factors makes up this problems
+Government
+ Employers
+ Sellers of provisions, everyday needs
+Banks
And I think this problems has one common solution and that's giving the option and choice in the hands of the individuals, government would complain that crypto-currency is leading to fast scams of it's citizens but the can put a warning and allow them carry on if they want and at there own risk, so should the other factors.

EdenHazard

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Quote from: Hypnosis00 on October 23, 2021, 01:48:25 PM

Quote from: cheezcarls on October 23, 2021, 07:50:19 AM

In my own opinion, I think we are slowly accelerating the mass adoption of Bitcoin worldwide. As BTC grows its popularity along with breaking it’s previous all time high, more and more people who are not yet into crypto are already searching and learning more about Bitcoin on Google, Youtube, etc.

It naturally accelerates right now especially to those countries who are crypto-friendly.

And it is started in El Salvador, we are looking forward to seeing this will accelerate the adoption as many countries will know this. Cuba, Venezuela, and many others are going to follow but somehow, as we can see that it wasn't that fast as it moves and the reason is that how the government is responding to such demand in regards to legalization, was very slow. Maybe if they just work it faster and set aside their own agenda like collecting tax for all crypto holders, this could really help to fasten the adoption.

Yupp , i just cant see those country in total failure adopting bitcoin and become a terrible example.

wish them luck and have a successful adoption in these tough mission , lack of knowledge become the biggest obstacle , people only know bitcoin as a promising investment and yeah nothing they knew about how powerful bitcoin could be a revolutionary money.
lack of regulation that could really accomodate everyone and so on , we are still far from the complete adoption. nothing you can do to accelerate it unless of course google as the leading multinational company along with advanced strong country like US , russia and china promoted it at once which its unlikely to happen.

Hypnosis00

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Quote from: cheezcarls on October 23, 2021, 07:50:19 AM

In my own opinion, I think we are slowly accelerating the mass adoption of Bitcoin worldwide. As BTC grows its popularity along with breaking it’s previous all time high, more and more people who are not yet into crypto are already searching and learning more about Bitcoin on Google, Youtube, etc.

It naturally accelerates right now especially to those countries who are crypto-friendly.

And it is started in El Salvador, we are looking forward to seeing this will accelerate the adoption as many countries will know this. Cuba, Venezuela, and many others are going to follow but somehow, as we can see that it wasn't that fast as it moves and the reason is that how the government is responding to such demand in regards to legalization, was very slow. Maybe if they just work it faster and set aside their own agenda like collecting tax for all crypto holders, this could really help to fasten the adoption.

isaac_clarke22

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Quote from: finaleshot2016 on October 23, 2021, 12:50:54 PM

~

Somehow I see this. Axie Infinity is still pretty hyped here in my country. I would somehow call it a meta adoption, as it is not the usual adoption that we were expecting like people would consider utilize it for non-entertainment purposes.
For merchants, I am not sure in your country, but in my mine, it isn't that much actually. Bitcoin is just seen as money-maker, not that "away from the bank" or decentralized currency where people have the freedom actually.

famososMuertos

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Adoption has "corrupted" your main idea over the years for a single purpose; the normative.(e.g. kYc)

In a certain way it has been and is the first barrier to overcome but the reality is that bitcoin has in its execution priorities to skip that rule but we already "adopt" it as basic, so Yes, maybe the bitcoin niche has been resigned to that idea with the step over the years, but I think we must understand that at least the insurgent adoption that only requires having a bitcoin address, is already there in many places, in many countries and they do not even distinguish social class.

So, that idea of thinking about adoption as the main barrier to overcome from the Kyc must be changing or better it must be defined correctly in its context, the real adoption or the main thing is that we all learning/know bitcoin. Well done that already exists in each person that no matter where you are has chosen to access technology but that window must grow regardless of the restrictions.

finaleshot2016

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Mass adoption is currently happening right now, crypto is being used in our daily lives by many people. The new meta right now is the NFT game here in my country, there are many players and investing in many different NFT games so that's why people are now aware of cryptocurrency. There are a lot of merchants right now that are accepting cryptocurrency as a payment method on the platform. Also, there are different kinds of web platforms that use crypto so for me, it's already starting and it's a huge acceleration already, the fact that it was being used in different aspects.

Gyfts

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Generally starts at the political level making sure the government is kept in check. My fear is most countries will coordinate with each other, or on their own initiative, will tax bitcoin through the roof or highly regulated it to curtail the crypto industry. Most of this preventable if you live in a democratic society, not so much if you are under authoritarian rule where the economics of your country are not dependent the common man.

Wawa2013

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Quote from: cheezcarls on October 23, 2021, 07:50:19 AM

In my own opinion, I think we are slowly accelerating the mass adoption of Bitcoin worldwide. As BTC grows its popularity along with breaking it’s previous all time high, more and more people who are not yet into crypto are already searching and learning more about Bitcoin on Google, Youtube, etc.

It naturally accelerates right now especially to those countries who are crypto-friendly.

The increase in the price of Bitcoin is getting higher and always breaking the previous all time high, this has become a lot of talk on various social media.
It is the most effective factor for accelerating the mass adoption of Bitcoin, because many people feel they can get rich by investing in Bitcoin. Finally
this can make people who do not know Bitcoin to be curious. They will find out about Bitcoin and once they learn it, they will try to buy Bitcoin.
The conclusion is that if we want to accelerate the Bitcoin adoption process, start spreading positive things about Bitcoin, then by itself many people will
try to find out about Bitcoin and plunge into the world of crypto.

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Quote from: pealr12 on October 23, 2021, 12:20:24 AM

Btc is not yet massively adopted because many people are unaware of it, others only sees it as a money making tool, once they invest they expect to make profits quickly, several others don't understand it, to them it is complicated and risky, and this categories of people are more than the btc supporters for now, so probably with continuous awareness people will start understanding it and adopt it more.

From the price it reach from almost starting to nothing , its no doubt that btc is developing and still have more chance to be known as the adoption increase. Now there are still people who did not mind having bitcoin or doesnstill know that btc exist , as time pass by and technology advancement happens more , butcoin will surely be part of it as a decentralized coin that is want by people who do more online business and transactions.

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