Topic: Top 5 examples of BTC adoption (Read 167 times)
My mate offered 1/10 of btc on printouts half as a joke a couple of years ago. I thought so lightly of bitcoin then I didn't even take it, or if I did I lost it. It's a good idea though, it gets more people involved.
There are so many ways of adopting bitcoin. My preferred ways are donations by btc, hospital charges in btc, gift in btc, any reward in btc and btc in academic curriculum.
I'm checking it out and so far I can kinda see the direction this is taking. Since I'm a painter and not a programmer, it takes a while longer (with several conversations with my mates) for me to really get a grasp on these things. But it's really exciting and promising.
Take a look at DNotes Global, especially the white paper and pitch deck video. It's a company that is yet in its infancy, but in my humble opinion it is the cryptocurrency project most likely to succeed in getting its coin widely adopted for everyday use on a global scale. It addresses many of these issues, and there are some interesting visualizations to kind of get the creative juices flowing 
I like your work, and I merited your OP in the artwork thread.
Here are some of the challenges to cryptocurrency mass adoption, and it's definitely true of Bitcoin.
1. Wallets require a certain amount of work to run and to keep secure, which is a turnoff to someone completely new getting involved. Just one example, I recently downloaded and installed the Electrum wallet on my desktop. Within two weeks of me doing that, I learned that there was a major security flaw in that particular version of Electrum and I needed to update the wallet. I don't actually stay in Bitcoin--I'm usually only passing through when I do have Bitcoin so 3rd party services and wallets work best for me--so I still need to update my Electrum wallet. My point is that after doing some work to get a desktop wallet in the first place, within a few weeks I'm back to square one because there's something wrong with the wallet and I can't use it until I update it. Most people do not have time for that. Imagine if you had to take your physical cash wallet into the shop once a month just so you could use it.
2. Online wallets can really help mitigate the above issues, but are they safe, secure, and trustworthy? Maybe they are; maybe they aren't. You have to spend as much time in due diligence on the particular 3rd party service you want to use as you would have to in setting up (and then updating and updating) your desktop wallet. And even after all that research you sill might lose your funds because suddenly your service gets "hacked" and all the coins are gone.
3. Can the cryptocurrency really scale up? That was a huge issue with Bitcoin last year and it may still be an issue. The Lightning Network is supposed to solve that, but it also takes transactions off chain, so there might be issues with that. Other coins seem to have figured out the scaling issue so on that point, it's likely Bitcoin will eventually be replaced by something else.
4. Tie in with current financial structures is not easy. Many of us who do trade back and forth between Bitcoin and fiat have figured out a system that works for us. For example, I use GDAX. But there's a learning curve, you have to link up your bank accounts, and if you're interested in any coins besides LTC, ETH, and BTC, you then have to involve another exchange like BitTrex. Each time you send BTC from one place to another, you lose on transaction fees, and you also take risks on prices fluctuating while waiting for your transaction to confirm.
5. S-L-O-W block confirm times are a real deal breaker. Who's going to wait ten or twenty minutes at the grocery store with their ice cream and meat on a hot day while the cashier is waiting for the customer's BTC deposit to confirm? A minute block confirm time is much better, but that's still not instant, and most people are used to instant when it comes to money transfers (except when it comes to ACH and international wire transfers, on those points BTC does far better than fiat).
6. Volatility is a serious issue for everyday use. Those who originally mined Bitcoin are sitting in profit no matter what the price of BTC does, but anyone who bought in late 2017 is still sitting on a significant loss. I've recently seen the price of BTC rise or fall $300 in one day, and if you're running a business with tight margins that won't work.
7. Having to keep up with everything from latest technology to exchange rates makes it really hard to just use cryptocurrency of any kind as money is used. Imagine if you had to keep up with all that stuff when it came to your national currency. Monetary development is certainly interesting but most of us really just want to use our money and be confident that we can use it again the next day without having to deal with major changes in its value, pathway, and means of storage. There are certainly those changes in our national currencies, but they tend to be slow and you have plenty of time to adjust, and for the most part the old ways still work for many years after a change. Think about how you can still write a check or pay in cash even years after debit cards have been developed, or how you can still slide your non chip credit card even in a chip card reader, etc. But with cryptocurrencies, you might go to your wallet to pay someone and find it won't work until you update it, or worse, the particular coin that you ignored for six months has now become worthless because the development team hit a snag and they all moved on.
There are some altcoins that are working to address these and other adoption issues, or at least claiming to in their ICO whitepapers. I would recommend reading up on how various legitimate groups are seeking to address these issues, because cryptocurrencies will not be widely used until these challenges get resolved for the potential casual user.
Thanks for this (and other posters') insite. It would(will) be an interesting challenge to find a way of depicting a solution to these problems, or at least visualising its impact. Here are some of the challenges to cryptocurrency mass adoption, and it's definitely true of Bitcoin.
1. Wallets require a certain amount of work to run and to keep secure, which is a turnoff to someone completely new getting involved. Just one example, I recently downloaded and installed the Electrum wallet on my desktop. Within two weeks of me doing that, I learned that there was a major security flaw in that particular version of Electrum and I needed to update the wallet. I don't actually stay in Bitcoin--I'm usually only passing through when I do have Bitcoin so 3rd party services and wallets work best for me--so I still need to update my Electrum wallet. My point is that after doing some work to get a desktop wallet in the first place, within a few weeks I'm back to square one because there's something wrong with the wallet and I can't use it until I update it. Most people do not have time for that. Imagine if you had to take your physical cash wallet into the shop once a month just so you could use it.
2. Online wallets can really help mitigate the above issues, but are they safe, secure, and trustworthy? Maybe they are; maybe they aren't. You have to spend as much time in due diligence on the particular 3rd party service you want to use as you would have to in setting up (and then updating and updating) your desktop wallet. And even after all that research you sill might lose your funds because suddenly your service gets "hacked" and all the coins are gone.
3. Can the cryptocurrency really scale up? That was a huge issue with Bitcoin last year and it may still be an issue. The Lightning Network is supposed to solve that, but it also takes transactions off chain, so there might be issues with that. Other coins seem to have figured out the scaling issue so on that point, it's likely Bitcoin will eventually be replaced by something else.
4. Tie in with current financial structures is not easy. Many of us who do trade back and forth between Bitcoin and fiat have figured out a system that works for us. For example, I use GDAX. But there's a learning curve, you have to link up your bank accounts, and if you're interested in any coins besides LTC, ETH, and BTC, you then have to involve another exchange like BitTrex. Each time you send BTC from one place to another, you lose on transaction fees, and you also take risks on prices fluctuating while waiting for your transaction to confirm.
5. S-L-O-W block confirm times are a real deal breaker. Who's going to wait ten or twenty minutes at the grocery store with their ice cream and meat on a hot day while the cashier is waiting for the customer's BTC deposit to confirm? A minute block confirm time is much better, but that's still not instant, and most people are used to instant when it comes to money transfers (except when it comes to ACH and international wire transfers, on those points BTC does far better than fiat).
6. Volatility is a serious issue for everyday use. Those who originally mined Bitcoin are sitting in profit no matter what the price of BTC does, but anyone who bought in late 2017 is still sitting on a significant loss. I've recently seen the price of BTC rise or fall $300 in one day, and if you're running a business with tight margins that won't work.
7. Having to keep up with everything from latest technology to exchange rates makes it really hard to just use cryptocurrency of any kind as money is used. Imagine if you had to keep up with all that stuff when it came to your national currency. Monetary development is certainly interesting but most of us really just want to use our money and be confident that we can use it again the next day without having to deal with major changes in its value, pathway, and means of storage. There are certainly those changes in our national currencies, but they tend to be slow and you have plenty of time to adjust, and for the most part the old ways still work for many years after a change. Think about how you can still write a check or pay in cash even years after debit cards have been developed, or how you can still slide your non chip credit card even in a chip card reader, etc. But with cryptocurrencies, you might go to your wallet to pay someone and find it won't work until you update it, or worse, the particular coin that you ignored for six months has now become worthless because the development team hit a snag and they all moved on.
There are some altcoins that are working to address these and other adoption issues, or at least claiming to in their ICO whitepapers. I would recommend reading up on how various legitimate groups are seeking to address these issues, because cryptocurrencies will not be widely used until these challenges get resolved for the potential casual user.
Btc is the most famous coin in crypto market and people wants to buy this coin based on its facilities and profit based on this many work created so painting about btc is one of them so many artists doing this and can earn more which helps people know about btc and sometimes make them motivate.
I never heard about this but the way you are painting is quite interesting also this have market value based on this it can influence people to invest or let people know about btc based on this you are getting paid and this also helps you to earn money and solvency.
Asking for advice:
I am a crypto artist and I want to visualize the way BTC is being or should be adapted in the most suitable way. (Example of my work: https://bitcointalksearch.org/topic/crypto-artist-sharing-and-exploring-with-bitcointalk-3467154)
I feel this is beneficial to the entire community and I want to make it a group effort. I want some of my future paintings to envision a world in which cryptocurrencies, especially Bitcoin are fully excepted and used.
What do you think the top 5 ways of adoption are or will be?
I am a crypto artist and I want to visualize the way BTC is being or should be adapted in the most suitable way. (Example of my work: https://bitcointalksearch.org/topic/crypto-artist-sharing-and-exploring-with-bitcointalk-3467154)
I feel this is beneficial to the entire community and I want to make it a group effort. I want some of my future paintings to envision a world in which cryptocurrencies, especially Bitcoin are fully excepted and used.
What do you think the top 5 ways of adoption are or will be?
Ability to pay for good and services thorugh crypto, although you can even do so today. Secondly to get salaries with crypto, so far there are few companies that are willing to pay you in bitcoin but it is rare and honestly other than doing some simple tasks it can be difficult to find decent job with crypto payment. Although it is hard to think about adoption when price move rapidly as it is not stable yet. But number one thing for me would be if some big retailer start to accept it as means of payment or something simmilar, we need some big guys to take and transact in crypto to boost the adoption.
I like your work, and I merited your OP in the artwork thread.
Here are some of the challenges to cryptocurrency mass adoption, and it's definitely true of Bitcoin.
1. Wallets require a certain amount of work to run and to keep secure, which is a turnoff to someone completely new getting involved. Just one example, I recently downloaded and installed the Electrum wallet on my desktop. Within two weeks of me doing that, I learned that there was a major security flaw in that particular version of Electrum and I needed to update the wallet. I don't actually stay in Bitcoin--I'm usually only passing through when I do have Bitcoin so 3rd party services and wallets work best for me--so I still need to update my Electrum wallet. My point is that after doing some work to get a desktop wallet in the first place, within a few weeks I'm back to square one because there's something wrong with the wallet and I can't use it until I update it. Most people do not have time for that. Imagine if you had to take your physical cash wallet into the shop once a month just so you could use it.
2. Online wallets can really help mitigate the above issues, but are they safe, secure, and trustworthy? Maybe they are; maybe they aren't. You have to spend as much time in due diligence on the particular 3rd party service you want to use as you would have to in setting up (and then updating and updating) your desktop wallet. And even after all that research you sill might lose your funds because suddenly your service gets "hacked" and all the coins are gone.
3. Can the cryptocurrency really scale up? That was a huge issue with Bitcoin last year and it may still be an issue. The Lightning Network is supposed to solve that, but it also takes transactions off chain, so there might be issues with that. Other coins seem to have figured out the scaling issue so on that point, it's likely Bitcoin will eventually be replaced by something else.
4. Tie in with current financial structures is not easy. Many of us who do trade back and forth between Bitcoin and fiat have figured out a system that works for us. For example, I use GDAX. But there's a learning curve, you have to link up your bank accounts, and if you're interested in any coins besides LTC, ETH, and BTC, you then have to involve another exchange like BitTrex. Each time you send BTC from one place to another, you lose on transaction fees, and you also take risks on prices fluctuating while waiting for your transaction to confirm.
5. S-L-O-W block confirm times are a real deal breaker. Who's going to wait ten or twenty minutes at the grocery store with their ice cream and meat on a hot day while the cashier is waiting for the customer's BTC deposit to confirm? A minute block confirm time is much better, but that's still not instant, and most people are used to instant when it comes to money transfers (except when it comes to ACH and international wire transfers, on those points BTC does far better than fiat).
6. Volatility is a serious issue for everyday use. Those who originally mined Bitcoin are sitting in profit no matter what the price of BTC does, but anyone who bought in late 2017 is still sitting on a significant loss. I've recently seen the price of BTC rise or fall $300 in one day, and if you're running a business with tight margins that won't work.
7. Having to keep up with everything from latest technology to exchange rates makes it really hard to just use cryptocurrency of any kind as money is used. Imagine if you had to keep up with all that stuff when it came to your national currency. Monetary development is certainly interesting but most of us really just want to use our money and be confident that we can use it again the next day without having to deal with major changes in its value, pathway, and means of storage. There are certainly those changes in our national currencies, but they tend to be slow and you have plenty of time to adjust, and for the most part the old ways still work for many years after a change. Think about how you can still write a check or pay in cash even years after debit cards have been developed, or how you can still slide your non chip credit card even in a chip card reader, etc. But with cryptocurrencies, you might go to your wallet to pay someone and find it won't work until you update it, or worse, the particular coin that you ignored for six months has now become worthless because the development team hit a snag and they all moved on.
There are some altcoins that are working to address these and other adoption issues, or at least claiming to in their ICO whitepapers. I would recommend reading up on how various legitimate groups are seeking to address these issues, because cryptocurrencies will not be widely used until these challenges get resolved for the potential casual user.
Here are some of the challenges to cryptocurrency mass adoption, and it's definitely true of Bitcoin.
1. Wallets require a certain amount of work to run and to keep secure, which is a turnoff to someone completely new getting involved. Just one example, I recently downloaded and installed the Electrum wallet on my desktop. Within two weeks of me doing that, I learned that there was a major security flaw in that particular version of Electrum and I needed to update the wallet. I don't actually stay in Bitcoin--I'm usually only passing through when I do have Bitcoin so 3rd party services and wallets work best for me--so I still need to update my Electrum wallet. My point is that after doing some work to get a desktop wallet in the first place, within a few weeks I'm back to square one because there's something wrong with the wallet and I can't use it until I update it. Most people do not have time for that. Imagine if you had to take your physical cash wallet into the shop once a month just so you could use it.
2. Online wallets can really help mitigate the above issues, but are they safe, secure, and trustworthy? Maybe they are; maybe they aren't. You have to spend as much time in due diligence on the particular 3rd party service you want to use as you would have to in setting up (and then updating and updating) your desktop wallet. And even after all that research you sill might lose your funds because suddenly your service gets "hacked" and all the coins are gone.
3. Can the cryptocurrency really scale up? That was a huge issue with Bitcoin last year and it may still be an issue. The Lightning Network is supposed to solve that, but it also takes transactions off chain, so there might be issues with that. Other coins seem to have figured out the scaling issue so on that point, it's likely Bitcoin will eventually be replaced by something else.
4. Tie in with current financial structures is not easy. Many of us who do trade back and forth between Bitcoin and fiat have figured out a system that works for us. For example, I use GDAX. But there's a learning curve, you have to link up your bank accounts, and if you're interested in any coins besides LTC, ETH, and BTC, you then have to involve another exchange like BitTrex. Each time you send BTC from one place to another, you lose on transaction fees, and you also take risks on prices fluctuating while waiting for your transaction to confirm.
5. S-L-O-W block confirm times are a real deal breaker. Who's going to wait ten or twenty minutes at the grocery store with their ice cream and meat on a hot day while the cashier is waiting for the customer's BTC deposit to confirm? A minute block confirm time is much better, but that's still not instant, and most people are used to instant when it comes to money transfers (except when it comes to ACH and international wire transfers, on those points BTC does far better than fiat).
6. Volatility is a serious issue for everyday use. Those who originally mined Bitcoin are sitting in profit no matter what the price of BTC does, but anyone who bought in late 2017 is still sitting on a significant loss. I've recently seen the price of BTC rise or fall $300 in one day, and if you're running a business with tight margins that won't work.
7. Having to keep up with everything from latest technology to exchange rates makes it really hard to just use cryptocurrency of any kind as money is used. Imagine if you had to keep up with all that stuff when it came to your national currency. Monetary development is certainly interesting but most of us really just want to use our money and be confident that we can use it again the next day without having to deal with major changes in its value, pathway, and means of storage. There are certainly those changes in our national currencies, but they tend to be slow and you have plenty of time to adjust, and for the most part the old ways still work for many years after a change. Think about how you can still write a check or pay in cash even years after debit cards have been developed, or how you can still slide your non chip credit card even in a chip card reader, etc. But with cryptocurrencies, you might go to your wallet to pay someone and find it won't work until you update it, or worse, the particular coin that you ignored for six months has now become worthless because the development team hit a snag and they all moved on.
There are some altcoins that are working to address these and other adoption issues, or at least claiming to in their ICO whitepapers. I would recommend reading up on how various legitimate groups are seeking to address these issues, because cryptocurrencies will not be widely used until these challenges get resolved for the potential casual user.
Have you ever crossed this puzzle it's been held around September 2014, this is a work of painting with hidden code inside a private key that contain 4.87 btc in it https://bitcointalksearch.org/topic/the-legend-of-satoshi-nakamato-final-step-published-487-btc-grand-prize-766000, well this one of the trivial thing regarding to art work, but I'm not suggesting to draw an art with amount of btc what coin artist did, I'm just plotting that this could be one of the work may be done to let you focus the entire forum into art thing and also one of the ways to show the forum how valuable art can be to crypto society hope it helps. one to five other ways bro.
Asking for advice:
I am a crypto artist and I want to visualize the way BTC is being or should be adapted in the most suitable way. (Example of my work: https://bitcointalksearch.org/topic/crypto-artist-sharing-and-exploring-with-bitcointalk-3467154)
I feel this is beneficial to the entire community and I want to make it a group effort. I want some of my future paintings to envision a world in which cryptocurrencies, especially Bitcoin are fully excepted and used.
What do you think the top 5 ways of adoption are or will be?
I am a crypto artist and I want to visualize the way BTC is being or should be adapted in the most suitable way. (Example of my work: https://bitcointalksearch.org/topic/crypto-artist-sharing-and-exploring-with-bitcointalk-3467154)
I feel this is beneficial to the entire community and I want to make it a group effort. I want some of my future paintings to envision a world in which cryptocurrencies, especially Bitcoin are fully excepted and used.
What do you think the top 5 ways of adoption are or will be?
Damn. Those paintings are good. I definitely like the mining painting and I would purchase it if I could(or if I could afford it).
Well, types of adoption? Adoption could be anything. Basically as long as bitcoin is being used, then that's pretty much adoption. When stores accepts btc, services, e-commerce stores, you name it.
I do not know those 5 top methods. But there are really many websites with the best methods of adoption available. Here is the stock of useful information. BTC are also dependent on the ways in which it is done.
Adoption its though to explain because there will be many ways. There are many ways of adoption news shows in different websites. Those might helps you to know more ways about adoption. Some ideas are useful which make crypto market better in the near future.
Asking for advice:
I am a crypto artist and I want to visualize the way BTC is being or should be adapted in the most suitable way. (Example of my work: https://bitcointalksearch.org/topic/crypto-artist-sharing-and-exploring-with-bitcointalk-3467154)
I feel this is beneficial to the entire community and I want to make it a group effort. I want some of my future paintings to envision a world in which cryptocurrencies, especially Bitcoin are fully excepted and used.
What do you think the top 5 ways of adoption are or will be?
I am a crypto artist and I want to visualize the way BTC is being or should be adapted in the most suitable way. (Example of my work: https://bitcointalksearch.org/topic/crypto-artist-sharing-and-exploring-with-bitcointalk-3467154)
I feel this is beneficial to the entire community and I want to make it a group effort. I want some of my future paintings to envision a world in which cryptocurrencies, especially Bitcoin are fully excepted and used.
What do you think the top 5 ways of adoption are or will be?
Jump to: