The emergence of BTC will not be adopted directly, but will be tested by time, society and people.
Just like the US dollar, it took decades for the US dollar to become the world currency.
BTC is only 12 years old. It is inevitable that many people do not understand or recognize it.
Cryptocurrency and bitcoin will develop better in the future.
Topic: My suggestion on Bitcoin adoption (Read 669 times)
When the pandemic hit the whole world, many people are now pursuing to own the internet, because the more people connected to the internet they know more about bitcoin, because I believe that even though the whole world already knows about bitcoin, its value will still be there, and it will remain a special currency. .
It must be admitted that since the pandemic occurred, many people began to spend time on the internet, and finally indirectly make Bitcoin's
popularity increase. It is proven that during the pandemic the price of Bitcoin has increased, because as you say now it looks like Bitcoin is
starting to be known throughout the world. So that makes several institutions also finally interested in investing in Bitcoin, hopefully then Bitcoin
will not only be good as a digital asset, however Bitcoin can be adopted by many merchants as a currency for alternative payments besides fiat.
not to presume that people weren't able to hit or bang up with Bitcoin which for sure that really mostly spark out some interest on their part.
Adoption comes naturally because we are already in digital world which we can really study and learn it on any viable mediums as possible.
It is just depending on how you do deal with it.
When the pandemic hit the whole world, many people are now pursuing to own the internet, because the more people connected to the internet they know more about bitcoin, because I believe that even though the whole world already knows about bitcoin, its value will still be there, and it will remain a special currency. .
It must be admitted that since the pandemic occurred, many people began to spend time on the internet, and finally indirectly make Bitcoin's
popularity increase. It is proven that during the pandemic the price of Bitcoin has increased, because as you say now it looks like Bitcoin is
starting to be known throughout the world. So that makes several institutions also finally interested in investing in Bitcoin, hopefully then Bitcoin
will not only be good as a digital asset, however Bitcoin can be adopted by many merchants as a currency for alternative payments besides fiat.
Bitcoin could be a great help in this pandemic. People are getting infected every day because they leave their homes every day in search of sustenance to take home. Very few people have stable jobs, the most vulnerable people suffer and are starving.
Institutions to sustain the economy should invest their capital in bitcoin and create jobs in this time of pandemic.
A good way could be Internet access in all places so that bitcoin and technology are more accessible.
Institutions to sustain the economy should invest their capital in bitcoin and create jobs in this time of pandemic.
A good way could be Internet access in all places so that bitcoin and technology are more accessible.
But unfortunately, not many people can join the crypto community and learn the ropes fast to earn some money. It will still take time to get good grasp of what's going in crypto and learn how to earn from this new technology. But I can agree that this is a good option to some people who are already on the net everyday. They can learn fast on how to earn crypto in different ways. And I believe during this pandemic, a lot of people got good help via their crypto activities.
Bitcoin could be a great help in this pandemic. People are getting infected every day because they leave their homes every day in search of sustenance to take home. Very few people have stable jobs, the most vulnerable people suffer and are starving.
Institutions to sustain the economy should invest their capital in bitcoin and create jobs in this time of pandemic.
A good way could be Internet access in all places so that bitcoin and technology are more accessible.
Institutions to sustain the economy should invest their capital in bitcoin and create jobs in this time of pandemic.
A good way could be Internet access in all places so that bitcoin and technology are more accessible.
When the pandemic hit the whole world, many people are now pursuing to own the internet, because the more people connected to the internet they know more about bitcoin, because I believe that even though the whole world already knows about bitcoin, its value will still be there, and it will remain a special currency. .
Bitcoin is not the same as gold, you should realize that as the world recognizes bitcoin, the better. Bitcoin is not some kind of investment that was supposed to be kept to limited people, it is better if it will be spread and invested by many investors.
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OP, I dont completely put bitcoin as digital gold. This mentality makes you take wrong decisions in future. Gold is a precious metal. Bitcoin is a cryptocurrency, keep it like that. Fact that bitcoin grows in value and is limited in supply does not make it similar to gold. Can you "melt" bitcoin and shape it? You cant.
Also it is true that the economic coverage of bitcoin is smaller than fiat currency usage but it is growing and we have to optimistic about the future of such an innovative technology known as blockchain. Probably bitcoin will remain like this but important thing is that you can make money trading on it, holding it for long term to sell and so on.
Also it is true that the economic coverage of bitcoin is smaller than fiat currency usage but it is growing and we have to optimistic about the future of such an innovative technology known as blockchain. Probably bitcoin will remain like this but important thing is that you can make money trading on it, holding it for long term to sell and so on.
I'm having a hard time understanding what exactly you are suggesting. It is unnecessary to create this topic if you don't have anything to say. No offence; my thoughts.
People want to express their feeling about bitcoin so I guess its fine and its "Bitcoin Disucssion". If you dont like it then dont post in it. Simple and efficient manner to ignore.
I'm having a hard time understanding what exactly you are suggesting. It is unnecessary to create this topic if you don't have anything to say. No offence; my thoughts.
so even if everyone in the world knows about btc it won't affect its price in my opinion.
how can you be sure about this?? When we talk about prices, the price of decentralized coins is influenced by supply and market demand, Bitcoin is a decentralized coin. people who are curious about Bitcoin will definitely buy it, especially those who are happy with new kind investments..snip..
if somehow banks and paypal becomes serious in allowing people to buy BTC with paypal funds, the adoption could really move faster. you might be seeing it before 2030 that we can already pay our drinks with our crypto debit/credit cards.
yeah.. slowly but surely, we were heading there. all transactions that occur in the future almost all will definitely use crypto.. if somehow banks and paypal becomes serious in allowing people to buy BTC with paypal funds, the adoption could really move faster. you might be seeing it before 2030 that we can already pay our drinks with our crypto debit/credit cards.
it sounded already like you don't want people to learn about BTC. there might be a lot of direction where the adoption of crypto will go after all there are stores accepting cryptocurrencies. developers are also creating dapps and apps to make it easier to work with cryptocurrencies but this kind of adoption will really take decades to happen.
if somehow banks and paypal becomes serious in allowing people to buy BTC with paypal funds, the adoption could really move faster. you might be seeing it before 2030 that we can already pay our drinks with our crypto debit/credit cards.
I love the fact that the whole world isn't aware of Bitcoin yet. I see Bitcoin as a digital Gold. It is supposed to be scarce to retain its credibility. If Gold was made accessible to everyone, The value would never be as high it has always been. In the case of Bitcoin, before the century goes off a quantum of the world population will be accessing the internet and I'm not sure a lot of people will still be interested in knowing what it is.
For sure as the bitcoin become more popular to a lot of people around the world the market price of bitcoin also will increase and continue to go up until it is used as one of the main currency.
The only thing that is going to stop it is if there is no demand in bitcoin, that could happen if there is a new technology that is more advance than bitcoin could exist.
Gold can be more reliable since it was a physical thing and it is a natural resource, unlike bitcoin that could lose its demand.
Many people are interested to know more about bitcoin but we as users will have to acknowledge that the risk associated with holding BTC is also not for everyone.
I don't quite get the point in the OP though...
If gold was accessible to more people it would lose value? Pretty much no. That's plain wrong. If demand goes up and the supply remains limited (which is guaranteed to be the case with BTC), then the value is only bound to go up.
People having more access to the internet, even in poorer countries, means that more people will need access to value transfer services. It'll be interesting to see people in developing countries leapfrog ever opening a bank account in favor of innovative alternatives like bitcoin.
I don't quite get the point in the OP though...
If gold was accessible to more people it would lose value? Pretty much no. That's plain wrong. If demand goes up and the supply remains limited (which is guaranteed to be the case with BTC), then the value is only bound to go up.
People having more access to the internet, even in poorer countries, means that more people will need access to value transfer services. It'll be interesting to see people in developing countries leapfrog ever opening a bank account in favor of innovative alternatives like bitcoin.
Agree with you people get excited only if the value of BTC goes up and it becomes a talk of town across the globe but they also want to know the risk of Investing in it as well, I personally feel holding BTC for longer term is a good idea. Like you said internet access has been provided in maximum number of areas across the world and the digital payment system is expanding and growing which could change the fate of many things.
I love the fact that the whole world isn't aware of Bitcoin yet. I see Bitcoin as a digital Gold. It is supposed to be scarce to retain its credibility. If Gold was made accessible to everyone, The value would never be as high it has always been. In the case of Bitcoin, before the century goes off a quantum of the world population will be accessing the internet and I'm not sure a lot of people will still be interested in knowing what it is.
A great deal of the population of the world is already aware that something like bitcoin exist, what they are not doing is adopting it at the same rate and it is not difficult to take a guess why, most people do not see the need to adopt bitcoin when they can use fiat to buy almost anything they want, they do not see in the characteristics of bitcoin something they need or want, however this will change in the future as people finally begin to understand the effects of allowing governments to print as much money as they want without any limitations, unfortunately for many of them it will be too late to fully protect themselves of those effects but at least this will push forward the adoption of bitcoin. That is why btc is only 21 million in supply because even if half of the world population come to know about btc and each person have one btc then it will only be available for only 21 million people out of the world population which can still make it scarce and retain it's valua, so even if everyone in the world knows about btc it won't affect its price in my opinion.
I think that haven't been discussed why it's need to have 21 million in total and the fact is even if all the coins will be mined there will be no complete total of supply because of lost coins. Half of world population isn't just 21 million and there's no way people of 21 million can even get one because even on the genesis block that haven't been moved it isn't just amounting 1 Bitcoin. Don't make some false interpretation just because you're running for the quantity of your posts because of the signature you're wearing.
That is why btc is only 21 million in supply because even if half of the world population come to know about btc and each person have one btc then it will only be available for only 21 million people out of the world population which can still make it scarce and retain it's valua, so even if everyone in the world knows about btc it won't affect its price in my opinion.
Of course, the price of bitcoin depends on the popularity of this idea. So far, not all people want to use this and it is good for bitcoin.
Many people compare bitcoin and gold, but it seems to me that they are similar only in terms of the usual investment of money in something profitable. In all other aspects, bitcoin is more versatile and convenient than gold. Now the popularity of Bitcoin is at a very high level and at the same time many more do not really understand or do not know about it.
Bitcoin is known now to much larger population after the high it made of 20k in last couple of years back which were in the news all over the world. Now we require all the countries who have not made it legal or still not yet made decided what to be done , should try and make it legal and encourage the merchants to start using this as a digital payment and will lead to more adoption by the customers.
That's true, bitcoin is not well known by many countries, there are more people who don't even know what it is because their government doesn't allow their citizen to use it, maybe it is banned from the country so no one knows it, but even though it is a ban from another country there are still some people from the are using it for some transactions and investing purposes, which is profitable when you invest in crypto compared to fiat currency. There are many people who are interested in it but they don't know how to start, I suggest that they should join this forum so they will gain knowledge about cryptocurrency.
Don't be greedy, bitcoin wasn't created to make a selected few rich or make another rich instead, it was created to help the masses from the slavery the government with their centralized mode of operations have put us. It was created to clean up the currency market and used as a more of payment for the average human. We should advocate more fore the technology to go viral instead of withholding the information for our selfish gains.
In fact, witholding it will have the opposite effect. It has to be used by the people to gain value. Think of any other technology like computers, phones, cars. What value would they have if they were used only by a few people in remote, isolated parts of the world? You wouldn't want a phone or a car if you never saw anyone use it and understood the benefit of owning it.
OP doesn't understand that scarcity and availability are two different things. You can have a scarce material available in every city. A good example of this are expensive cars like Ferraris. They are expensive and scarce because they are always produced in limited numbers, but every big city has a dealership and you can also order a car online.
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