Topic: Thoughts about Bitcoin adoption (Read 746 times)

We only need to increase in numbers so that circulation  will somehow benefit many people who loved to spend and hold btc as general purpose whether it's for investments or spending virtualization.

Too many investors who understand the purpose of Bitcoin. Bitcoin offers a very good solution to transfer a tangible value to a remote location. I think this is the best feature for Bitcoin. Blockchain's best ad was bitcoin. Bitcoin will become more and more common.

in the country where I used to live there was a payment service using bitcoin which was directly converted to FIAT in real-time, on the island of Bali we used to pay for hotels, drink in bars, clothing stores can use bitcoin payments.
 but its existence created controversy and was dismissed by the government.

In order for Bitcoin to achieve mass adoption, there should be a system that binds fiats to bitcoin. With this, people will understand the true purpose of bitcoin and how is can easily provide financial freedom. Having a system and a platform that binds bitcoin to fiat will easily explain to ignorant people what bitcoin is and also help them understand it...

A decade of existence is enough of a proof to make people realize that BTC is here to stay and that adoption will take place  eventually. I've been listening to few discussions on youtube and they do have the analogy like the internet during the 90s where only few people has the access. Few more years I remember I was already suing hotmail 1996 and 2002 social media already exist and like BTC it grow larger.

Right now the cryptocurrency market is in the very early days of getting large scale usage. As of now bitcoin adoption isn't that effective to get used as the fiat used all around. Very few countries have taken forward an initiative to develop their own cryptocurrency, same time equal number of countries stand against cryptocurrency usage. When this changes automatically a big change can be experienced in the global market.

I think that if we talk about mass adoption, it should mean that Bitcoin is largely recognized as a payment method. So I'm talking about the reality where you don't have to look for specific stores to use Bitcoin but can go to your regular ones and use Bitcoin to pay for groceries. I know, scalability. It's indeed a serious problem. Is the Lightning Network the only solution? Is it even a realistic solution?
Here's what I thought about to address the issue of transactions getting confirmed slowly. How about not waiting for them to get confirmed? When a person uses a debit card to pay for food, it's not like the transaction actually get's processed and the money is sent right away to the store. No, this process takes about a day or two, I've learned that about half a year ago when there was a mistake with a transaction. The money is blocked by your bank, and you don't see it anymore, but it's actually still there. So how about accepting that a person paid the moment after this person hit the 'send' button on the screen or something like that? What are the odds of a transaction not getting through eventually (if a person paid a normal transaction fee, of course) and being returned back to the sender's wallet? Is that happening that often that shops would not be able to take those risks?
Now, I realize it won't solve all of the problems, because if there are too many transactions that are being put through like that, the number of unconfirmed transactions will be building up. However, I think it could be a solution for a less significant adoption step or as a temporary measure. What do you think about all that?

I think they will not dare to take the risk by making Bitcoin as a legal payment tool in their store, if the businessman is a Crypto lover then I think he will choose a stable coin that does not volatile in price. Volatile prices indeed are not suitable if used as payment

I am agree with you mate. Only few knows about cryptocurrencies comparing to those who does not really knows what is a cryptocurrency is. What you have said is correct. I think the crypto team should endorse the cryptocurrencies in the different parts of the world to give knowledge about what the cryptocurrency is, its origin and who the founder is and also its advantages and disadvantages. They also have to explain that cryptocurrency will not fully replace the fiat nor this will be a big help in helping every countries wconomy.

I think that if we talk about mass adoption, it should mean that Bitcoin is largely recognized as a payment method. So I'm talking about the reality where you don't have to look for specific stores to use Bitcoin but can go to your regular ones and use Bitcoin to pay for groceries. I know, scalability. It's indeed a serious problem. Is the Lightning Network the only solution? Is it even a realistic solution?
Here's what I thought about to address the issue of transactions getting confirmed slowly. How about not waiting for them to get confirmed? When a person uses a debit card to pay for food, it's not like the transaction actually get's processed and the money is sent right away to the store. No, this process takes about a day or two, I've learned that about half a year ago when there was a mistake with a transaction. The money is blocked by your bank, and you don't see it anymore, but it's actually still there. So how about accepting that a person paid the moment after this person hit the 'send' button on the screen or something like that? What are the odds of a transaction not getting through eventually (if a person paid a normal transaction fee, of course) and being returned back to the sender's wallet? Is that happening that often that shops would not be able to take those risks?
Now, I realize it won't solve all of the problems, because if there are too many transactions that are being put through like that, the number of unconfirmed transactions will be building up. However, I think it could be a solution for a less significant adoption step or as a temporary measure. What do you think about all that?