Topic: What can we do to speed up Bitcoin mass adoption? - page 7. (Read 1524 times)

Unfortunately, it used to be called a scam a lot more. I have been here long enough and during 2015-2016 it was called a scam a lot, and before 2015 it was called "drug money" and that was a sad period. Glad we are over that period now and people see it more of a legit investment these days.

I am sure that just like how we have found a lot more people who think of it as a legit investment compared to 5+ years ago, we can do that again and again each 5 years and keep growing our numbers. It will not be easy or quick, but it could happen. Asking people if they accept bitcoin is definitely a great start, would definitely help getting the name out and making shop owners think they could make a good profit from it.

Yes, of course, you are talking about important things, but people first of all need an incentive or motive (I hope most here distinguish one from the other) for this. There is no way people in the world will seek to gain knowledge of bitcoin without good reason. At one time, cryptopunks were driven to this by the desire to gain financial freedom from the traditional financial system and banks. This was the motive. The incentive for people to learn about bitcoin can be the example that everyone here must be fed up with by now, about the discount on bitcoin purchases. If there is a benefit, it will push for use. The same thing happens with investing.

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.

The specific examples I have shown have no initiative to promote cryptocurrency payments over other methods, but there are examples from my country where sellers are going in the direction of offering a certain discount if the buyer pays with cryptocurrencies.

This store did not have this approach before, but now they offer a 10% discount on regular prices if paid with crypto, but they offer the same discount on cash - but at least we can say that both methods are equal. However, there are those who still want to attract customers to pay with crypto, so the best pizzeria in my country (in the top 50 EU) offers as much as 30% discount on Wednesdays (I hope the offer is still valid)🍕

The biggest obstacle is the regulatory issue. There is no clear regulation making it only limited to certain environments. Regarding increasing understanding through education it can happen but regulatory barriers become a society has a fear. In addition, the ability of human resources is still a major factor in conducting education. In addition, people's views on crypto are sometimes inferior to negative news from the media. It makes a bad look, which makes them lazy to learn more. Maybe they will be more interested if you offer them to increase money through bitcoin. I am sure after that they will learn more about bitcoin.   

The idea of using the concept of donation can be a good alternative however this is not as easy as 1,2,3 because when you donate something you are not supposed to get something in return especially physical products. Of course, not unless the "seller" in the transactions will also be donating his goods to you so maybe you are donating to each other. Still, because this is a gray area the government can still come in to legally define the whole transaction for what it really is according to the view of the state.

I am glad that here in my country we don't have that much legal hindrance for anyone to use Bitcoin as a medium of payments but the problem is the famine of merchants or businesses that are accepting BTC...on the other hand not many merchants are accepting BTC because of the low volume of business involved so here we are back to the question of the chicken and the eggs. Still, crypto enthusiasts here in my country are happy with the way things are - less governmental interventions, as of now.

More less have to make Bitcoin popular in mainstream media. More less not on the principle of what it does. But turn Bitcoin into some type of fun entertainment icon.
People would embrace Bitcoin for the sake of something to be part of and may not have any idea or care of what it's purpose is.

That is how politics is so popular in the USA. They turned politics into the Superbowl. Where people take political sides like they were baseball teams.

Many have no clue on politics yet pretend to know it all.

Well, it is through ^[awareness].
As we can see most of us now have social media accounts and the internet is part of our daily needs, so it is easy for bitcoin to spread over the internet. The time will come soon bitcoin will be used for all people as an alternative currency aside from fiat. There is no shortcut for this to have a bitcoin mass adoption, let us spread slowly and make everyone understand first before they embrace bitcoin, for me --it took for how many months before I decided to purchase and have an interest in bitcoin because I always have doubt on it. Later I understand the good side of it and until now I am still thankful for what I have found. People do the same on me for sure.

Awareness and indeed knowledge is the key and as said that this is something that wont really be that possible for everybody which it do really make things even more slower but well if someone do

really got curiosed then this is the time that they would really be making out some in depth research.It is true that volatility is one of the factors on why it do slows down and to add up it would

also be talking about legality.We do know that people would really hesitate on dealing up with something which isnt legalized or been preferred by government.

Well I think we can do a lot to push Bitcoin mass adoption, to the world, but I would suggest we do it subtly, because let's be honest the newbies entering crypto-currency are losing the very basis of it.
I believe many of them  are not being tutored well, before they come, on board. So if we are to promote Bitcoin and crypto-currency let's all do it in a way that, that we can give newbies a chance to understand that crypto-currency isn't a get rich quick scheme.

I don't think it may happen sooner. Simply because after about 12 years since its was lunched, the number of Bitcoin users remains insignificant compared to the number of Earth's population.
There are still hard work that need to be done to achieve new milestones in bitcoin adoption. But certainly, we have to focus on three main points imo :
1- Improving the time needed to confirm a transaction : this was the main issue since the volume of transactions increased in the blockchain which caused many other issues. Several updates has been made in this field (Segwit/Taproot...) but there are always a need to work on reduce time for confirming transaction whatever the situation of the network.
2- Supporting more transactions within a single block: Segwit update was one of the biggest step toward solving this issue but the problem can pump again once the network can support more transactions per second.
3- Reducing transaction fees when the volume of transactions is high : i don't really how to solve this technically but without working on this detail , other competitors can be better alternative for bitcoin whatever it's centralized or decentralized.

I found this interesting topic discussing the same matter , i advice you to take a look at it : How can we speed up the adoption of cryptocurrencies?

The problem with mass adoption is that Bitcoin, by its nature, promotes freedom of choice. No one is (and should ever) use Bitcoin by force, and they'll never be as it doesn't favor governments. Most people have used to be forced to use a currency.

That's, unfortunately, the popular opinion, but I'll have to disagree. Just holding it isn't using it, just as holding everything else does not equal with using it. You use gold when you develop electronics, or make teeth etc., but keeping your gold in dust pretty much shows the opposite: Your gold is unused.

Same happens with Bitcoin. You can't use it to create anything essentially and directly other than solely to transact with.

Considering that there are not so many buyers with bitcoin (if don't consider examples with countries like Lucius's ), then why not offer a discount? Let's assume that out of the total sales in your store, sales for bitcoin will be 2-5%. Even with volatility, will this create huge losses for your business? I think not at all, but what a huge effect it will have on the spread of bitcoin in the future if stores offer this to their customers.

The other day I came across the news that in Britain these machines maybe prohibited (if it's true). So, what is relevant today (bitcon machines) may be banned tomorrow.

Well, we can wait for bitcoin banks to open soon, or can take active steps to spread it. Whether it is accepting as payment in your store or selling and buying services that we can provide to others.

Because the discount made in BTC now (unprofitable at first glance for the seller) in the future will be profitable for him (if hodl BTC). Also, the discount can be made such that it will be less than the margin of the product. In this case, the seller will still be profitable. There is another option: the seller will be able to profit from the turnover of products. Lower price (due to discounts) - more buyers - more profit (due to trading volumes). As you can see, there are always options.

I propose to use BTC as an alternative payment method, and not replace it with all existing ones right now. Like, you can pay a can of cola for $1 or $0.9 for BTC.

We have come a long way in the last 10 years and the adoption rate keeps on increasing every year. You cannot expect all the third world countries using the cryptocurrency space where they do not have internet connection. We never expected any country to accept Bitcoin as a legal tender few years ago and now we have countries using Bitcoin as a legal tender and the changes keep on coming.

We couldn't expect Bitcoin Mass adoption, however, we can't disclose any possibility that it comes in the future. I actually ask some people regarding Bitcoin and to ask what they know about this, I'm glad they heard this word but I'm sad hearing from them saying it was a scam. I could see that the only way to mass adoption is to eliminate the negative mindset of the people first. And showing them the benefits we got from this will help to enlighten their minds and change.

Indeed, they become curious to know what is Bitcoin, but no interest if you will accept it as payment. But seeing major establishments offers this payment option makes holders feel that the use of Bitcoin is totally safe.  

Merchants are strictly tied to how the regulatory system in their own countries. As far as I concern, my country, Indonesia, strictly prohibits the use of Bitcoin and altcoins as a way of payment within Indonesia. Speaking of that, I just recently saw that some fashion brand doing it anyway, which it's likely breaking the law. Due to the nature of lack of adoption here and cryptocurrencies only addressed as a commodity, in the legal aspect, only times will wait for the brand to shut down the cryptocurrency payment options.

Shifting a revenue into a donation, I believe wouldn't solve the problem either. As you have stated it's a disguise, so either they will face a problem from the governments, or they will hardly manage their accounting process.

Few things that I'd like to mention, strictly speaking in my own country, I believe services like Bitrefill may possess a solution. Most of the big brand in my country does offer a gift card for their own products/services on Bitrefill. I guess, making use of those kinds of services, and making the process for any industry to be able to offer gift cards into the platform easier, may helps the adoption.

What can the average everyday person do to speed up mass adoption? First, tell the places you shop that they should accept it! You might not be the only one telling them that and the more people saying "hey, you should accept Bitcoin" to them, the more they will feel the need to start accepting it. Let the businesses you shop at know you would give them more business if they accepted digital forms of payment like Bitcoin.

Own your own business? Do you part to speed up adoption by accepting Bitcoin. Mass adoption requires Bitcoin to be used & accepted by lots of people and places. Way more than we're at right now. Lots of people don't think there is much they can do, but one simple thing all of us can do is continue to spread the word and request the places we spend our money to accept it. The more places that start accepting it, the more adopted it will become..

Actually Bitcoin adoption is viral more than the i expected that Bitcoin will go, making a clause that what can we do to speed up Bitcoin mass adoption, it looks like bitcoin of 2010  and the year of 2012, when bitcoin information has not circulate the way it's currently, now some companies and individual who were against bitcoin has embrace bitcoin and start investing on it, and know valuable companies that have not heard about bitcoin, so the adoption is moving very fast.

Accepting it as payment will give small positive changes so yes! if we are talking about giving people freebies when they pay with bitcoins, then it's a positive impact that will slowly give them the importance of bitcoins where they will learn more about it and finally they will gonna learn the importance of keeping it other than their real state assets where they have the full authority to store it at the safe place and withdraw it anytime they want. But first thing first, they need to learn the basic like we used to so that they can start their own journey towards the revolution of financial freedom.

I remember the days when I am planning to do some small business and it always comes to my mind that I will always accept Bitcoin.
By doing this, it is already huge help for the Bitcoin community which may help with mass adoption.

Another way is asking other businesses or people, "do you accept Bitcoin as payment?" Because if ever they are still don't know what Bitcoin is, they will be curious when they start to hear that question.

The development of bitcoin/crypto-curency has gone far enough, brother, this makes it possible for a person/group to purify transactions, even for standard payments and even renting which is quite dark in nature for pilgrims etc., maybe taxes. Inflation and openness of other transactions are still decentralized without The intervention of the minister of finance and the government is indeed. To be made simultaneously as a medium of exchange, there is no essence of the amount that can change at any time. Those who view changing fate in a short time, there is a phase of losing the value of assets that is not worth it for long.
Say, every service. buying and selling goods and transaction activities are always offered with the best benefits for consumers, maybe it's temporary in nature and there are advantages that are enough to make people tempted, there is a calculation of the votitas for the recipient. Any store service that has its own margin , other friends have tasted salt and water using bitcoin even since the beginning of this forum being used, and it's impressive