The adoption boom is coming - page 3.

Wind_FURY

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Quote from: geofflosophy on November 20, 2016, 04:30:56 PM

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The adoption boom is coming

Nope the kind of "adoption" you are thinking of will not happen. Bitcoin is good for the dark markets, over-regulated systems, countries ruled by a dictator who controls everything or a country close to that situation and places where they make it hard for you to get and send money to your families. That is where Bitcoin's value come from. It comes from a place where the "mainstream" does not even to look into or to know.

In short, if it is "illegal" it is good for Bitcoin.

maku

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geofflosophy I really liked your prediction. I want to share your optimism and I would love your scenario of mass adoption to happen.
One aspect is bothering me, it is still relatively hard for normal people to buy bitcoin, you said that we need to have couple bucks of BTC to use these new services etc.
But do you think that ordinary John will bother to register and verify his identity on bitcoin exchange just to buy $5 worth of BTC for MegaUpload2?

2double0

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Quote from: geofflosophy on November 25, 2016, 03:35:02 PM

Quote from: Dafar on November 23, 2016, 12:12:51 PM

ITT: OP leaves the discussion Cheesy

Still here, nothing to add so far.

The news is great, but the number still seems very less if we would compare it with any other assets in the markets.
Still a long way to go before we can actually say that the boom has taken place.

marcus_of_augustus

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It's clear socialism (tribalism by another name) doesn't scale. Fiat money is essentially socialism via the money supply, and it doesn't scale, being vulnerable to corruption, coercion, politics, counterfeiting (printing) on massive scales and the usual central-planning attacks. Evidence is quite clear and long running for these results.

geofflosophy

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Quote from: Dafar on November 23, 2016, 12:12:51 PM

ITT: OP leaves the discussion Cheesy

Still here, nothing to add so far.

JimboToronto

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Quote from: Biodom on November 22, 2016, 11:19:52 AM

Does gold scale? I don't think so.

I think it does. Given that the basic unit of gold is the 12.4 kg bar, a mere ounce translates to satoshis compared to a whole bitcoin.

What are grams worth? Do we hear milligrams?

Fiat currencies are much less scalable than either Bitcoin or gold. Any one still use mils?

Dassi

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One reason bitcoin has gained favor with people is the fact that fiat keeps getting devalued and people rather want something that increases in value with time.

rickadone

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Quote from: xIIImaL on November 24, 2016, 01:05:16 PM

Quote from: outatime1 on November 23, 2016, 10:33:36 PM

As more people try to get bitcoins, it is spreading thinner and demand is increasing. So it's not just that there are fewer being mined, it's also that more people are becoming interested in holding some bitcoins that is another factor.

I think as price increasing evetyday. We could see more adoption from the people who added in their businesses. Due to thid demand bitcoin price rising steadily.

The adoption and price increase are depending on each other. But, we never could conclude which is pushing the other one. Because, more the adoption will trigger more demand and will eventually lead to higher price levels. Higher price levels usually will attract more people to get into bitcoin adoptions.

xIIImaL

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Quote from: outatime1 on November 23, 2016, 10:33:36 PM

As more people try to get bitcoins, it is spreading thinner and demand is increasing. So it's not just that there are fewer being mined, it's also that more people are becoming interested in holding some bitcoins that is another factor.

I think as price increasing evetyday. We could see more adoption from the people who added in their businesses. Due to thid demand bitcoin price rising steadily.

romero121

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The adoption boom is due to the much spreading happening across the whole world. This is just happening because people who were just part of the fiat had started realizing the true potential of bitcoin. The ongoing variation in price too is a factor for the adoption rise.

outatime1

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As more people try to get bitcoins, it is spreading thinner and demand is increasing. So it's not just that there are fewer being mined, it's also that more people are becoming interested in holding some bitcoins that is another factor.

Carmen_Sandiego

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Quote from: Ted E. Bare on November 21, 2016, 09:03:52 AM

Indeed 2017 will introduce well thought out new use cases. I also believe this will influence the growth and the price of bitcoin.
MegaUpload 2.0 for example will help many people familiarize with bitcoin and is just the beginning.

I'm following closely the news regarding this, and other projects.
If developers deliver these applications, if at least some of these applications hit the market, we will see mainstream media coverage of Bitcoin, and probably a high increase in demand. From my point of view, these are good times to invest and hold Bitcoin.

StevensonCarl

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Most likely this will happen but we still have to see this so lets see what is gonna happen with it, I think that it will be a success honestly.

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Quote from: Ayers on November 23, 2016, 12:23:04 PM

Quote from: FxR on November 23, 2016, 02:49:13 AM

Quote from: Ayers on November 21, 2016, 12:59:39 PM

Quote from: alyssa85 on November 21, 2016, 12:02:12 PM

I don't think mainstream adoption is coming at all. How many people use bitcoins to purchase stuff from Overstock?

Bitcoin is behaving more like an asset class (gold, property etc). People who want to store wealth away from the prying eyes of govt. People in places like Venezuela and Argentina who are dealing with delinquent currencies and want something to hold it's value.

But in the west normal fiat will continue to be used to purchase the necessities of life.

that's because there is still no real way to earn bitcoin easily for the average people aside from buying which is not convenient for many, and also it feel like investment, many don't want to invest, they want to acquire, you don't invest to have fiat, you acquire it, so until bitcoin will not be easy to acquire it will no be on par with fiat

It'll never be easy to acquire for everyone.
Let's say a boss will pay all of his employees in BTC. The boss is the person that has to get through the hassle of getting that BTC.
Mining is the only way to get Bitcoins these days and that's not accessible for the simple man anymore sadly.

boss can get them via exchange or via gateway like bitpay in a more easy way, if he is a merchants for example, instead of being a private, also he would get all his revenue in bitcoin, and pay his employee with bitcoin, still far better than every individual buying by himself his coin

I agree, that's why I said it. But there will always be a handful of people that can't be pleased because it takes more work for them to get the Bitcoin. Be it bosses, miners, homeless people or whatever, someone will have trouble getting BTC.

Ayers

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Quote from: FxR on November 23, 2016, 02:49:13 AM

Quote from: Ayers on November 21, 2016, 12:59:39 PM

Quote from: alyssa85 on November 21, 2016, 12:02:12 PM

I don't think mainstream adoption is coming at all. How many people use bitcoins to purchase stuff from Overstock?

Bitcoin is behaving more like an asset class (gold, property etc). People who want to store wealth away from the prying eyes of govt. People in places like Venezuela and Argentina who are dealing with delinquent currencies and want something to hold it's value.

But in the west normal fiat will continue to be used to purchase the necessities of life.

that's because there is still no real way to earn bitcoin easily for the average people aside from buying which is not convenient for many, and also it feel like investment, many don't want to invest, they want to acquire, you don't invest to have fiat, you acquire it, so until bitcoin will not be easy to acquire it will no be on par with fiat

It'll never be easy to acquire for everyone.
Let's say a boss will pay all of his employees in BTC. The boss is the person that has to get through the hassle of getting that BTC.
Mining is the only way to get Bitcoins these days and that's not accessible for the simple man anymore sadly.

boss can get them via exchange or via gateway like bitpay in a more easy way, if he is a merchants for example, instead of being a private, also he would get all his revenue in bitcoin, and pay his employee with bitcoin, still far better than every individual buying by himself his coin

Dafar

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ITT: OP leaves the discussion Cheesy

jtipt

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Quote from: streazight on November 21, 2016, 10:01:09 AM

Quote from: LFC_Bitcoin on November 21, 2016, 09:47:19 AM

Quote from: Ted E. Bare on November 21, 2016, 09:03:52 AM

Indeed 2017 will introduce well thought out new use cases. I also believe this will influence the growth and the price of bitcoin.
MegaUpload 2.0 for example will help many people familiarize with bitcoin and is just the beginning.

We certainly need a new wave of adoption. We seem to have hit a wall, a bit of a plateau. I hope something can draw lots of people in & we see the price rise significantly.

But, I just believe into the reciprocal of your statement. The price rise significantly attracts many new people into bitcoin adoptions. The adoption boom is already happening, it may go intensive when bitcoin prices approaches $1000 again.

Yes, exactly as the price increases people think investing in bitcoin may actually be profitable. And when btc reaches $1000 I am sure many new people will adopt it, maybe even mainstream media show some news flash about it so even more people are likely to research about btc more.

talkbitcoin

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All I know is that I know nothing.

the adoption boom were supposed to come for a very long time ago and it has not yet happened. instead we have been seeing a slow adoption which to be honest seems more realistic to me.

i have not been familiar with some of the projects mentioned here but the ones that i know of seem to be very interesting but i doubt that they can live up to the hype for example like MU2 which said price will be $2000 after its release!

TastyChillySauce00

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Quote from: xIIImaL on November 22, 2016, 01:03:43 PM

Quote from: CoinCidental on November 21, 2016, 06:21:38 PM

Mainstream adoption is coming, get coins now while you still can
Once the whales move in, whole coins will be too expensive for the average user ( $10k+) and people will deal in Mbits or maybe even satoshis...

Yup I could wish business whales like Microsoft, HP,Walmart and more companies should accept bitcoins. These kind of will definitely make good change around the world for bitcoin market.

microsoft had accepted bitcoin long ago (In December 2014) as their one of many payment options even though they ever erasing it from the list but they just get it back into their sites. (http://www.cnbc.com/2016/03/14/microsoft-stops-accepting-bitcoin-on-windows-10.html)
the news above are publishing about microsoft's apologizes

and i do agree that adoption by some mainstream website will really give an affect or impact to bitcoin. may even skyrocketing the adoption

jondeen707

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Quote from: 1Referee on November 21, 2016, 06:09:25 AM

Quote from: The Sceptical Chymist on November 20, 2016, 08:20:25 PM

People need a real reason to use bitcoin over fiat, and so far I haven't seen really compelling reasons.

Exactly that is missing. Especially in well developed countries with a top notch fiat based payment infrastructure. It completely wipes away the need for Bitcoin being used as currency tool. If you purely look at online spending purposes, then Bitcoin is still the top leader for me. I use Bitcoin in 90% of the times when I transact with people around the world, or do an occasional purchase at a web store accepting Bitcoin.

Quote from: The Sceptical Chymist on November 20, 2016, 08:20:25 PM

That's heresy, I know, but to me bitcoin works much better as an investment tool and store of value than as a currency to be adopted for spending. But we'll see.

The investment aspect, as well as the store of value aspect, will be the main points of Bitcoin that people will be interested in. Gold is no longer the sole ruler in the market that people can use as a hedge, store of value, investment, etc. Bitcoin is here and ready to be used by people appreciating what it can offer them. I hope even the hard headed average joes will also realize that. It will be an insanely though job to get them on board.

The store of value and a viable alternative to gold are the major factors that drive more people to Bitcoin. But let's not play down it's importance as a digital payment system, it is there and it works. I guess we all would want it to grow faster though.

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