Topic: We should answer the important questions to increase Bitcoin adoption - page 3. (Read 367 times)

I'll better answer this question. Bitcoin might be the key to corruption in countries that are not mainly regulated fairly by their government. In such a case that if Bitcoin doesn't have taxes, then there is no fund to be corrupted. The question is, how about the projects and infrastructure that should be built with these taxes? My point is, we are to pay our taxes using bitcoin itself, the advantage of it is we can verify where the taxes go, and we could verify if it is really utilized in various projects that our government has. Thus, making our country and economy develop with fairness and transparency.

These are some relevant questions that needs to be addressed. However, i think we can also consider the following questions as well
1. Are there enough marketplaces or online stores that accept bitcoin across the world?
2. How are sellers and buyers going to be protected against the volatility of bitcoin?

One of the challenges in the traditional payment system that bitcoin has solved is keeping the financial records of people private but in terms of speed and convenience, Fiat beats bitcoin in that.

I united these two because they seem to be about the same thing. Convenience is a matter of interface and devices that can be introduced to utilize payments. If it's implemented in a 'pay with your smartphone' kind of solution, it is/will be convenient. Moreover, it's a matter of habit, so it might not be easy and convenient to use Bitcoin at first but people can come to like it when they get used to it.
Yes, if we are talking about big transactions. It can solve problems of SWIFT-like money transfers or transaction fees when spending money on a big purchase ($200+).
Yes, it's safer everywhere you use it.
Well, it can be faster than international bank transfers, but it's way slower than instant transactions with fiat.
I think we should focus on currency, but that means we need to solve some serious problems.

The truth is we are not asking these questions until now because we know the answers are not going to be in favour of bitcoin. See:
~~it's not more convenient to use than credit cards, debit cards as they are much more quicker and less costly.(objectively talking about convenience)
~~no it's not cheaper than normal payment methods solution may be Lightning Network
~~Obviously bitcoin is much safer compared to traditional systems yet risk of hackings are still prevelant.
~~Yes it's easy to use if someone tries to use but obviously not easier than cash.
~~No it's not LN might be the answer.
~~Problen is that we cannot govern the applications on how people use bitcoin.

You see all the answers reflect that bitcoin is not something people would opt because it's convenient, cheaper, faster. So let's see we can find answer to these questions or not.

If you talk about Bitcoin adoption worldwide as a payment system, there are both advantages and disadvantages regarding the same. The advantages of bitcoin over other payment system is that they can be used as a global currency and we don't really need to depend upon the government for changing our currency notes while leaving the country as you have pointed out in the above reply. The same scenario could be very well taken as a disadvantage such that, will you be able to buy and sell $1,000,000 worth of bitcoin in a go? Will the price of bitcoin be as stable till we reach the other country? The core problem prevailing right now with the adoption on a larger scale might be because of the huge volatility it has.

Regarding some of your questions posted above,

Bitcoin is convenient to use on a smaller scale based on the legality of the bitcoin in a country, but on a larger scale people still fear about the government's regulatory practices. Adoption is hindered again with the scalability factors since Visa processes around 45,000 transactions per second whereas Bitcoin processes around only 7 transactions per second. All these problems would be solved only when devs come up with innovative ideas like segwit.

I don't believe Bitcoin as a trading mechanism and I spend my bitcoin for global transactions rather than holding them. But it's based on user's perspective since if Lazlo wouldn't have paid 10,000 btc for pizza we could have not seen the adoption in future. I follow the same as when I got more mature regarding the usage of bitcoin and I never hold btc and would spend them as a means of international payment very often.

Bitcoin was created to be used as a global currency, but does the majority of the global population really use them like that?

+1 for your signature campaign earnings.     It is sad to see that people simply read the reply of previous posters and then just put a little

twist on it to make it their own. No creativity or even constructive contribution to the thread at all, just pushing out the spam as usual and then

getting paid for it.    Also, try using a spell checker -- "Adaption"    ...it is called adoption.  .... This probably took you 14 seconds

to post this garbage in my thread.

To be honest, this has nothing to do at all with the bitcoin adaption, these questions you have mentioned are answerable via google and bitcoin mass adaption is dependent on the majority of the world's population, and Government will be the key to all of that, but the bitcoin mass adaption seems to be a bit imposible to happen in the next following years because Governments are leading people to misunderstanding about cryptocurrency by feeding them false information about it.

Unfortunately Bitcoin cannot solve that problem, but it can bypass certain restrictions that are put in place by these corrupt governments. Let's

take one example : Your government does not allow you to take out more than say $100 000 out of your country (also called capital controls)

You have say $1 000 000 and you need to quickly exit the country because of a civil war or some external threat. Well, this is where the

borderless and unstoppable nature of Bitcoin comes to the rescue. Convert your wealth into Bitcoin and move it to a paper wallet and leave the

country with that piece of paper with a bunch of numbers on it. (Nobody will even know what it is, if you scramble the numbers or even better,

send it to a friend in another country) - Problem solved. 

Do you think these are the major issues due to which bitcoin adoption is not growing? Then start rethinking! You didn't ask about the most important question!

Bitcoin's adoption majorly depends on its legitimacy. If you go to Japan, you will see bitcoin is being accepted almost everywhere! Even an employee can take salaries in bitcoin! Now if you visit India, you will hardly see anyone talking about bitcoin because it's still not legal there! Do you think those above questions even stand valid here?

It's the regulation and legitimacy of bitcoin that slumps the growth of bitcoin adoption! Technical things will obviously be there but can be addressed later!

As an entrepreneur I always look for the challenges when I want to think about something new that would change the normal way that people are

doing things. This mindset has never changed and I am always looking for easier and more user-friendly ways of doing things. Back in the day I did

most of the boring work with complicated Dos batch files or scripts to get things done quicker. So how do we apply that mindset to Bitcoin?

The answer is simple >>> "Look for the problems in the other payment systems and solve that with Bitcoin"

~~ Is Bitcoin more convenient to use?
~~ Is Bitcoin cheaper to use and where will that solve problems?
~~ Is Bitcoin safer to use than traditional payment options? Where will it be safer to use?
~~ Is Bitcoin easy to use (How can we make it easier to use?)
~~ Is Bitcoin faster than other payment options? (Where can we apply it to solve problems with other slow payment options?)
~~ Are we using Bitcoin for the correct applications? (Trading or Currency) What should we focus on?

These are just some of the questions that we need to ask to get to a better solution for the problems with the other payment options. Can you

think of any problems and challenges that Bitcoin can solve now and how do we use Bitcoin to solve these problems now?