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Topic: No mass adoption because of the One-size-fits-all bitcoin - page 3. (Read 1604 times)

legendary
Activity: 1862
Merit: 1004
People are allergic to any "fork action" of bitcoin. That is why XT failed so miserably, I am not sure if that proposed BIP of yours is not conservative enough for bitcoin purists.
Also I doubt that any changes that will push bitcoin into even more anonymous and private state will ever happen, it will be quite opposite route imo.
hero member
Activity: 798
Merit: 1000
Who's there?



Bitcoin is good, but it's not good enough.

Internet have won when emai have appeared. Email was so much better than snail-mail, for everybody, that it have become the killer app and the mainstream adoption have happened.

There is no such killer application for bitcoin. Let's face it, Bitcoin's benefits over fiat are currently not big enough to justify switching to it.
Therefore we have to find a more fitting niche market, with specific needs where bitcoin's benefit over fiat are higher.
There are several such markets.

However, the last year have shown that bitcoin is not taking over remittance market or internet-sales market or PESA market or even black market. Bitcoin is not good enough even for a niche markets.

Therefore, to take over one of these markets, it have to be modified, to make a better fit.
For example:

-For black and gray market it have to be much more private.
-For cup-of-coffee market it have to be much more fast. And much more scalable.
-For PESA market it have to be more SMS-friendly
-For bank backbone market it have to be much more secure (compulsory multisign etc)
-For record-keeping market it have to have more fields for information storage
-For smart-contract market it have to have smart-contract language embedded
etc etc etc

The above are just some rough ideas. Undoubtedly, there are much more possible changes that would make bitcoin much better fit for those markets.
What's more, many of these changes have been already invented and even implemented in some altcoins.

All we have to do is to combine these improvement with benefits of mainstream bitcoin: first mover advantage and security, based on powerful mining factories.

There is no guarantee it will happen. But it depends not on whims of some billionaire-whale, but on us. We have to do just two things:

1) Fight hard to overcome powerful interest groups in bitcoin community and put the sidechains BIP into the bitcoin core.
2) Work hard to implement those niche market sidechains.
      -more-secure-than-bitcoin  sidechain for backbone of banks
      -more-private-than-bitcoin sidechain for black-gray market
      -more-scalable-than-bitcoin sidechain for internet shopping
      -more-fast-than-bitcoin sidechain for cup-of-coffee purchases
      -more-sms-friendly-than-bitcoin sidechain to replace PESA
      -more and more of these specialised sidecoins for niche markets


And then - to the moon. Smiley

tl;dr; Bitcoin can win only through a niche market. To win a niche market, we need sidechain BIP.
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