What can we do to speed up Bitcoin mass adoption? - page 5.

Kimonoe

member

Activity: 700

Merit: 10

Quote from: m2017 on April 06, 2022, 06:26:38 AM

Quote from: Slow death on March 28, 2022, 05:19:22 PM

Quote from: m2017 on March 18, 2022, 07:01:55 AM

What can you say about this option? Will it be legal to use it?

the best way to accelerate bitcoin adoption would be if people in every country fight with politicians to make laws that are good for bitcoin, this is the only way to have mass adoption, merchants can only accept bitcoin payments if there are clear bitcoin laws in a particular country, companies can only accept to pay wages in bitcoin if they have clear bitcoin laws in a particular country. so everything depends on laws, without bitcoin laws we will continue to use bitcoin as just an asset to day trade or hodl, unfortunately we are not making much progress in this matter of getting many governments to create bitcoin laws

Politicians pass only those laws that are beneficial to themselves, and not to the majority of people. I can't imagine what it would be like for people to influence politicians and they pass laws about bitcoin that are good and beneficial to the people. I agree that proper BTC regulation at the legislative level would promote mass adoption, but I have great doubts about how this will be implemented.

The subtle thing to do is if bitcoin is used by a large portion of the population, so that the government has no way of avoiding it. on the other hand a situation that can urge the government to legalize it. it sounds difficult, but eventually bitcoin will naturally get a place in the payment instrument section. Currently the government is only looking for opportunities to collect taxes, as is the case in my country where starting from May the government will increase the cryptocurrency tax

StarKay

member

Activity: 756

Merit: 16

We All Can Make It

Factors affecting the mass adoption of bitcoin such as education, government policy, bitcoin price volatility, and blockchain security will need to be addressed first to increase adoption of bitcoin.

I'll say that there's a lot more awareness about bitcoin than adoption because of lots of misinformation of bitcoin and lack of blockchain education available to many people. We can not do much other than to teach people around us the advantage of bitcoin over fiat currencies and also how to secure their wallets and use exchanges safely.

m2017

legendary

Activity: 1792

Merit: 1296

Crypto Casino and Sportsbook

Quote from: Slow death on March 28, 2022, 05:19:22 PM

Quote from: m2017 on March 18, 2022, 07:01:55 AM

What can you say about this option? Will it be legal to use it?

the best way to accelerate bitcoin adoption would be if people in every country fight with politicians to make laws that are good for bitcoin, this is the only way to have mass adoption, merchants can only accept bitcoin payments if there are clear bitcoin laws in a particular country, companies can only accept to pay wages in bitcoin if they have clear bitcoin laws in a particular country. so everything depends on laws, without bitcoin laws we will continue to use bitcoin as just an asset to day trade or hodl, unfortunately we are not making much progress in this matter of getting many governments to create bitcoin laws

Politicians pass only those laws that are beneficial to themselves, and not to the majority of people. I can't imagine what it would be like for people to influence politicians and they pass laws about bitcoin that are good and beneficial to the people. I agree that proper BTC regulation at the legislative level would promote mass adoption, but I have great doubts about how this will be implemented.

malevolent

legendary

Activity: 3472

Merit: 1724

There's more and more legal friction in the form of red tape for on and off-ramps for BTC<->fiat currency exchanges so not sure how the future is going to look like. Same even goes for any entities ever handling bitcoins on behalf of others, transferring them, other uses, etc. Frankly speaking, I see a bleak future for any adoption unrelated to HODLing (which in itself is great, but I had higher expectations for Bitcoins' future) or gambling at exchanges/DeFi/whatever at this point. And the time for some serious lobbying passed years ago (not sure if it would've worked out anyway...).

EdenHazard

legendary

Activity: 2674

Merit: 1048

Quote from: lalabotax on April 01, 2022, 06:33:18 PM

Quote from: Newlifebtc on March 28, 2022, 04:26:03 PM

What we have to do to speed up Bitcoin adoption is to spread the profit you make in each of your trading on social media in order to attract more attentions, so with that Bitcoin adoption will increase from hundred percent to one thousand percent

It is not as simple as you think, brother. Sharing information about our profits on social media has been done by many people around the world. It is not a new way, many people already tried your idea to improve peoples' interest to use Bitcoin. So, I don't think this way will make a very significant impact on the adoption of Bitcoin. Bitcoin is no longer something new for people around the world.

That was not intelligent way to educate people about crypto .. about bitcoin.

you will only teach them about the short term pleasure which it would feel like gambling though rather than get them know abbout the revolutionary .. the vision in bitcoin itself to chenge the way we do any kind transaction seamlessly.
well people often misleading at this point , flexing are not the way. not the right way. people tend to collect money through clicks thesedays. sucks trends.

Lanatsa

hero member

Activity: 2968

Merit: 687

Quote from: lalabotax on April 01, 2022, 06:33:18 PM

Quote from: Newlifebtc on March 28, 2022, 04:26:03 PM

What we have to do to speed up Bitcoin adoption is to spread the profit you make in each of your trading on social media in order to attract more attentions, so with that Bitcoin adoption will increase from hundred percent to one thousand percent

It is not as simple as you think, brother. Sharing information about our profits on social media has been done by many people around the world. It is not a new way, many people already tried your idea to improve peoples' interest to use Bitcoin. So, I don't think this way will make a very significant impact on the adoption of Bitcoin. Bitcoin is no longer something new for people around the world.

With social media then it would really be spreading like wildfire specially that nowadays on where people do mostly spend their lives on looking at on their mobile phones which is impossible that they wont really able to

encounter about bitcoin or crypto but its just sad that people would only get interested on how to make money and not totally into their utility which is something normal for a human being to mind off that way.

Speeding it up? Just let it be because people would get interested if they would tend to but you could actually make out some small steps about exposure which would be starting on your loved ones.

lalabotax

full member

Activity: 1582

Merit: 132

BK8 - Most Trusted Gambling Platform

Quote from: Newlifebtc on March 28, 2022, 04:26:03 PM

What we have to do to speed up Bitcoin adoption is to spread the profit you make in each of your trading on social media in order to attract more attentions, so with that Bitcoin adoption will increase from hundred percent to one thousand percent

It is not as simple as you think, brother. Sharing information about our profits on social media has been done by many people around the world. It is not a new way, many people already tried your idea to improve peoples' interest to use Bitcoin. So, I don't think this way will make a very significant impact on the adoption of Bitcoin. Bitcoin is no longer something new for people around the world.

Marvelman

full member

Activity: 1008

Merit: 139

★Bitvest.io★ Play Plinko or Invest!

Quote from: Newlifebtc on March 28, 2022, 04:26:03 PM

What we have to do to speed up Bitcoin adoption is to spread the profit you make in each of your trading on social media in order to attract more attentions, so with that Bitcoin adoption will increase from hundred percent to one thousand percent

But this is not adoption, this is trading. We have to give Bitcoin and digital currencies a mainstream appeal, and stop with the wishy-washy rhetoric of "crypto si going to make you rich". We have to stop marketing this as the "internet" equivalent of gold, and start marketing it as an equivalent of purchasing power.

Bitcoin's largest hurdle is the perception of the currency, it does not actually exist yet, and until there is confidence that people can use the currency, people will stay away.

Emitdama

sr. member

Activity: 1914

Merit: 328

Quote from: Newlifebtc on March 28, 2022, 04:26:03 PM

What we have to do to speed up Bitcoin adoption is to spread the profit you make in each of your trading on social media in order to attract more attentions, so with that Bitcoin adoption will increase from hundred percent to one thousand percent

This is what I see right now on my social media page, screenshots of trading accounts showcasing how much they earn but I am not impressed with it, idk no why but instead what I feel is they are just scammers. It can give people a negative impression if we show them like that especially if they don't know you well.

Another thing why it's bad is because if people can't earn the same thing like you did, they will think crypto is a big ponzi. This can only damage the reputation of crypto but it would be better if we are going to be honest with them, tell them that it's not easy to make money in crypto and tell them that there are other uses of crypto.

mildmanneredsuffering

jr. member

Activity: 42

Merit: 1

Quote from: Ale88 on April 01, 2022, 12:13:44 PM

Quote from: retreat on April 01, 2022, 11:29:54 AM

To be able to achieve mass adoption, the whole community must understand what bitcoin is, the best bitcoin wallet, how it works and what not to do during bitcoin transactions. after that is achieved, then we can open a shop or service and put the words there "accept payments with bitcoin".

So do you think that the whole world understands how the bank and credit card systems work? Or they simply use it because that's the easiest way (in their opinion) to store and spend money? If everybody needs to completely understand how something works before using it well, good luck with that.

or how about automobile engines, do they need to know all about how it works before they can drive a car? BTW would those in the know say bitcoin MM code is programmed more like a ford pinto or more like a land mine?

Ale88

legendary

Activity: 2576

Merit: 2880

Catalog Websites

Quote from: retreat on April 01, 2022, 11:29:54 AM

To be able to achieve mass adoption, the whole community must understand what bitcoin is, the best bitcoin wallet, how it works and what not to do during bitcoin transactions. after that is achieved, then we can open a shop or service and put the words there "accept payments with bitcoin".

So do you think that the whole world understands how the bank and credit card systems work? Or they simply use it because that's the easiest way (in their opinion) to store and spend money? If everybody needs to completely understand how something works before using it well, good luck with that.

mildmanneredsuffering

jr. member

Activity: 42

Merit: 1

impossible. everyone that has been exposed to bitcoin knows it is and always has been a terrible relentlessly crashing monogod developer, fucknugget piece of shit. Id say its just a market making algorithm now that scalps users hopefuls and punters every time. its recorded history that bitcoin suffers regular and often horrendous crashing, making it unfit even for negros or farm animals as a basis for strong and rewarding economics

retreat

sr. member

Activity: 1106

Merit: 391

To be able to achieve mass adoption, the whole community must understand what bitcoin is, the best bitcoin wallet, how it works and what not to do during bitcoin transactions. after that is achieved, then we can open a shop or service and put the words there "accept payments with bitcoin".

LUCKMCFLY

legendary

Activity: 2590

Merit: 1882

Leading Crypto Sports Betting & Casino Platform

Quote from: 2rj4k on March 25, 2022, 04:48:10 PM

Bitcoin will be like gold. people will buy it for its value not necessarily for payment methods like fiat. I think the intention of the questions is really "When crypto will be mainstreamed as a payment method".

About a month ago I was also thinking that when people see that Bitcoin will be accepted worldwide, they will look for it like gold, but it will be more difficult to obtain it because if there is a lot of demand, the price will go through the roof, it will be like the best savings of people's lives, then as a payment method it will be the ideal but it will be as valuable as gold.

The human being behaves erratically most of the time, when the BTC drops in price, when it was at $36k people didn't buy much, but I'm sure that if these days the btc reaches $100k people would buy like crazy, I think that from here is the reason for my thoughts.

Slow death

legendary

Activity: 3164

Merit: 1127

Leading Crypto Sports Betting & Casino Platform

Quote from: m2017 on March 18, 2022, 07:01:55 AM

What can you say about this option? Will it be legal to use it?

the best way to accelerate bitcoin adoption would be if people in every country fight with politicians to make laws that are good for bitcoin, this is the only way to have mass adoption, merchants can only accept bitcoin payments if there are clear bitcoin laws in a particular country, companies can only accept to pay wages in bitcoin if they have clear bitcoin laws in a particular country. so everything depends on laws, without bitcoin laws we will continue to use bitcoin as just an asset to day trade or hodl, unfortunately we are not making much progress in this matter of getting many governments to create bitcoin laws

Agbe

legendary

Activity: 1022

Merit: 1341

Quote from: m2017 on March 18, 2022, 07:01:55 AM

Residents of any country in the world can officially use only the national currency as a means of payment (if somewhere this is not the case, then correct me). Of course, you can pay in any other currency in a dark alley, if you agree, but the only legal means is always the national currency of the country of your residence. If you look at the situation from this point of view, then why would the governments of any country allow the use of bitcoin as a means of payment? Other currencies are not allowed, but bitcoin will be allowed. Why would governments suddenly be given such privileges for bitcoin? For me personally, this is obvious and my forecasts are pessimistic in this regard. The maximum, in my opinion, that they will allow is to officially invest in bitcoin and generously allow you to share % of the profits with them.

What can you say about this option? Will it be legal to use it?

Huh! Is this an assumption, prediction or suggestion? If Bitcoin is accepted as an international or National use currency, it will affect the poor people in the country (ies) because 1bitcoin is more than 47 US dollar for almost all the countries in the world. And another this is that, the fiat Currencies are also doing what Bitcoin does, most for the online transactions. We all know that Bitcoin is for buying and selling of goods and services online only, and this the same function of Bitcoin can be performed by the fiat currency, so instead of adopting Bitcoin to be utilized in their countries, they promote their indigenous currencies base on the high rate of Bitcoin. Legality or not legality is not the main issue. Yes, it can be legalized, but can it move with the poor? Can the poor use it? We are talking about Millions not thousand. The elites will highjack the whole stuff and make the poor More poorer.

They can only adopt Bitcoin to support their fiat currencies but to abandone their Currencies will not be possible
That is not withstanding, base on the OP title, I have posted some of the ways crypto currencies (Bitcoin) is promoted. https://bitcointalksearch.org/topic/crypto-currency-awareness-campaign-5391422

Newlifebtc

member

Activity: 686

Merit: 21

What we have to do to speed up Bitcoin adoption is to spread the profit you make in each of your trading on social media in order to attract more attentions, so with that Bitcoin adoption will increase from hundred percent to one thousand percent

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

Quote from: virasog on March 28, 2022, 01:32:02 PM

Quote from: dezoel on March 24, 2022, 12:23:48 AM

There is no law that says bitcoin cannot be accepted as a payment of a service or a product, it hasn't been in a long long time. Just put a bitcoin accepted here and maybe if you want to give discounts give discounts and sell it with that. Then pay your taxes on that income like a regular citizen (even though we do not like to pay it) and you should be fine.

Not that easy because if bitcoin is not legal in your country then for sure it will be difficult for the general public to use bitcoin as a payment method. Anyone can complain to the authorities and he or she may face legal actions against them.
Also, you cannot pay taxes on bitcoin if it's not legal. Things are really complicated as usually people hide the cryptocurrency because they worry that legal action may be imposed on them for possessing illegal currencies.

There are very few countries where bitcoin is illigal,
Most of the countries are neutral, they don't support bitcoin although they don't go against it too.
where it is illegal by law you can use it anonymously and can purchase for buying things from global websites.
yes, it is kinda sad that some 3rd class countries don't allow their people to use bitcoin, I don't know why! maybe their ignorance is the main fact in this case.
If you are never aware general public about it and if the general public will not express their interest in Bitcoin then Govt. will never force the lawmaker to legalize Bitcoin.
So, we should have to make people aware of bitcoin and its future in this new era.

virasog

legendary

Activity: 3136

Merit: 1172

Leading Crypto Sports Betting & Casino Platform

Quote from: dezoel on March 24, 2022, 12:23:48 AM

There is no law that says bitcoin cannot be accepted as a payment of a service or a product, it hasn't been in a long long time. Just put a bitcoin accepted here and maybe if you want to give discounts give discounts and sell it with that. Then pay your taxes on that income like a regular citizen (even though we do not like to pay it) and you should be fine.

Not that easy because if bitcoin is not legal in your country then for sure it will be difficult for the general public to use bitcoin as a payment method. Anyone can complain to the authorities and he or she may face legal actions against them.

Also, you cannot pay taxes on bitcoin if it's not legal. Things are really complicated as usually people hide the cryptocurrency because they worry that legal action may be imposed on them for possessing illegal currencies.

m2017

legendary

Activity: 1792

Merit: 1296

Crypto Casino and Sportsbook

Quote from: Lucius on March 22, 2022, 06:10:13 AM

Quote from: m2017 on March 21, 2022, 10:05:26 AM

It pleases that my idea came to the mind of the owners of this pizzeria. Actually, it's quite simple. It was about this method of stimulating buyers with crypto that I was talking about. Thank you for sharing this example and I hope it inspires others to follow suit.

In today's world, every customer is important and the more payment methods someone implements, the more customers they will have, which is a fairly simple philosophy.

Quite an interesting idea, which, unfortunately, I did not have.

I agree, this philosophy looks very simple, but I suspect that it can be extremely effective.

Quote from: Lucius on March 22, 2022, 06:10:13 AM

I think that in the process, many are afraid of the volatility that Bitcoin has and do not want to take risks, and are not aware that there are payment processors that act as intermediaries. In doing so, I don’t think this is the ideal way to pay with BTC, but it’s hard to imagine that it could work any differently at the moment.

There is an assumption that volatility is decreasing and will be even less in the future. I think you are aware of this. If the exchange rate is more stable in the future, then this may attract those who were scared away by volatility.

I understand that the use of payment intermediaries allows the buyer to pay in BTC, and the seller to receive in the traditional currency, and all this is obtained more or less without violating the law. If almost none of the sellers knows about intermediaries, then by eliminating this drawback, you can get a working scheme.

Topic: What can we do to speed up Bitcoin mass adoption? - page 5. (Read 1523 times)