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...
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. 
Topic: Thoughts about Bitcoin adoption - page 5. (Read 748 times)
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...
One big issue with Bitcoin adoption by merchants is that bitcoin is far more volatile than most local currencies. This is why most businesses that accept bitcoin still price their products in local currency and immediately convert received bitcoins to local currency. Further, Bitcoin is money and should be treated as such, But Bitcoin is not yet ready to handle national volumes of trade, and we will need to utilize technologies pegged to Bitcoin.
Adoption takes time but we are definitely in the right direction. As the adoption curve grows, so will be the trust and payment utility of Bitcoin. We have built a Bitcoin native marketplace and have experimented with the lightning network and i realized that lightning is great for microtransactions. However, for larger transaction sizes we will still need to rely upon on-chain payments for full confirmation and security. Adoption cure will continue to grow as more sincere and innovative entrepreneurs provide services using blockchain and crypto.
This is a good news if bitcoin can pay things in store.
But the main problem is, there are so many people don't believe bitcoin is the safe cryptocurrency.
People usually want a profit with no risk and its never come true.
The interest profit from bank promotion make they choose bank to save their money. They ignoring the monthly fee, book printing cost, and many shit fee. Save money in bank is not making our money raise, but loss by paying the fee.
We should change the people thought about investation in bitcoin is profitable and not illegal
But the main problem is, there are so many people don't believe bitcoin is the safe cryptocurrency.
People usually want a profit with no risk and its never come true.
The interest profit from bank promotion make they choose bank to save their money. They ignoring the monthly fee, book printing cost, and many shit fee. Save money in bank is not making our money raise, but loss by paying the fee.
We should change the people thought about investation in bitcoin is profitable and not illegal
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?
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?
Jump to: