Topic: What do you Think might aid the global adoption of Bitcoin? - page 3. (Read 726 times)

as we can put it, we can start from ourselves and the people around us. but don't force it to anyone. if someone is willing to learn, then, give him assistance. because if you will shove it on them, they will likely blame you if something goes wrong with their funds or they will avoid you because they know you will be lecturing them about this market.
it is always best if the person is willing to learn about this market, because they will put effort also in learning more outside of your tutelage. you can aim one person at a time. i've seen here that some are giving a lecture at a large audience. imo, only few will be interested from such audience.

Individual effort is the best thing that came in my mind to aid the global adoption of Bitcoin.  One good example is the Bitcoin Lake in Guatemala which is discussed in this thread.  Even though the government doesn't recognize Bitcoin as a legal tender and they opt to implement CBDC, locals of the said place started to promote Bitcoin.  They even mine bitcoin with used cooking oil as a source of energy to power up mining rigs.  Besides, I always believe that the collective power of individuals that is promoting Bitcoin is way stronger than a company that promotes Bitcoin alone.

BTC can be used globally without it being a legal tender globally, every country in the world isn't going to make BTC a legal tender, especially the developed countries, but as long as they do not create a hostile enviroment for people using BTC in their country, then we do not need them to make it a legal tender. BTC is already legal in far more countries than it is illegal, so if people can use it the correct way by taking it off exchanges and more merchants continue accepting it, it is only a matter of time for global adoption.

BTC can be used as an investment means, but nobody should take it to be a get rich scheme, that is not one of its qualities and only people who do not know anything about BTC can think like that.

Where Bitcoin has failed, nowhere, have individuals failed, the community has not been able to organize.

 We hope that it is "daddy," the government, that does everything, ah!  But when it happens they criticize and judge it, and the worst they condemn, saying that Bitcoin failed in El Salvador.

But it does not matter, because that adoption advances and does not necessarily need governments, no. Fortunaty, there are individuals want to take the lead in the battle.

Unfortunately we can already speak of bankruptcy because after a year instead of having a greater adoption many traders have left their tablet with the wallet in the drawer and the Chivo wallet was a political campaign well exploited by Bukele.

Oh you're right. i missed it. it seems that El Salvador originally did have its own currency, namely the El Salvador Colón, but from what I read from Wikipedia¹ it turns out that the El Salvador Colón currency has not been made since 2001. and since then only US Dollars have been used. and from several article sources I read that colón has not been circulating since 2004 and is not used for any transactions². although it was mentioned that there were still several shops there that used to accept Colón and dollars for transactions at that shop.

and talk about the various limitations and obstacles experienced there to implement Bitcoin education there. then of course we have to understand that the process of adopting bitcoin in the community there will be slow. because of the various limitations that exist in the community there as you mentioned. then I think it's too early for us to call it a failure. because this is still running in a process that seems like it will take a lot of time.

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Reference :
1. https://id.m.wikipedia.org/wiki/El_Salvador
2. https://p2k.stekom.ac.id/ensiklopedia/El_Salvador & https://ilmugeografi.com/ilmu-sosial/negara-el-salvador

But you're wrong El Salvador has its own currency "the Colon" but obviously it has a very low purchasing power and therefore the cash runs in US dollars.  So it is normal that the adoption of Bitcoin in the country is also uncomfortable for the USA.  As I have already said, a media campaign and a $20 drop in the Chivo wallet to hope that everyone starts using Bitcoin cannot work, education is needed and in a country like El Salvador where the majority is illiterate, one cannot expect the people to understands and consequently does not use it.  Cash is the main cause of tax evasion and illegal trafficking and in the country they are almost all unbanked it is normal that they will not use Bitcoin.  The only exception could be vs. money transfers which have very high transfer rates while LN, as we well know, costs nothing and is very fast.

so true. a big step taken by president Nayib bukele in adopting bitcoin as legal tender in the country of El Salvador will certainly not be successful immediately and will not be immediately accepted by the people. all of that requires process and time. and even the adoption of bitcoin there did not interfere with the dollar payment instruments commonly used there. and please note that El salvador does not have its own currency. so bringing the legal payment alternative i.e. bitcoin to the country is also a bold move and quite a good one. although of course there will be many parties who are not happy with this. In fact, many news media only see the negative point of view and don't highlight the positive side too much.

and at least the bitcoin awareness education there is much more active and is being implemented. the point is they try with real work. not just with words without action. and I think the policy of legalizing bitcoin as a legal means of payment there does not interfere with the previous means of payment, namely the dollar. because still, the dollar is still very much needed there. because like the elderly it will certainly be easier to use dollars in everyday payments. Bitcoin is just an alternative.

and this is the latest news which is another real effort that El salvador is doing in helping bitcoin adoption.
https://cryptopotato.com/el-salvador-launches-bitcoin-lightning-dev-training-office/

You make a good point about the importance of seeing Bitcoin as a legal tender rather than just an investment or a get rich scheme. If people view Bitcoin primarily as a speculative asset, then they may not be motivated to use it as a currency for everyday transactions. However, if people start to see Bitcoin as a legitimate form of payment that can be used to buy goods and services, then adoption may increase.
To increase Bitcoin adoption, it's important to make it easier for people to buy and sell it through improved availability and ease of access to Bitcoin exchanges. Enhancing the user experience by simplifying the buying, selling, and using process can make it more appealing to a wider audience. Building a strong ecosystem of businesses that accept Bitcoin as a payment method can also encourage adoption.

For bitcoin to be accepted globally I think bitcoin has to be a legal tender, investment means, and getting rich scheme, All these three qualities for bitcoin will help it to be globally adopted easily, especially by the masses.

Let's look at the biggest motivator for it's success so far and then extrapolate from that to give you a good answer. What happened in the countries where Bitcoin adoption increased the most? Answer : The fiat currency in that country failed or it nearly collapsed under hyper inflation.

We can wait for more and more countries to go through the same crisis or we can educate people on the solution (Bitcoin) before that happens to them. Unfortunately people are only forced prior or during a crisis to take that step.... but we can educate them about the solution, before it happens. 

Maybe if people think that bitcoin is an investment almost similar to other types of investment that can provide benefits, it can help the bitcoin adoption process. Or they could think that bitcoin provides another way to make fiat money trading cryptos like forex trading and others can also help bitcoin adoption because people will learn to trade fiat bitcoin pairs. And with more and more people using crypto trading, it can keep the adoption process moving and give people an opportunity to make money.

Maybe bitcoin cannot yet become legal tender for many countries because it still depends on the local government's decision. And, of course, the government doesn't want to see that they can't control bitcoin the way they control the circulation of fiat money. And maybe that's what hinders the use of bitcoin as a legal tender in one country.

I read your mentioned thread and it seemed that Guatemala has not announced or declared accepting BTC as legal tender because legalizing btc and legalizing as tender are two different things. No doubt el-Salvador made the bad decision of making BTC a legal tender at a time when BTC was at an all-time high or at least near it. I do not know on what basis they planned it but it was a failure until now. And as per your mentioned thread, Guatemala has not accepted it as legal tender but accepts it as security and assets on which people are allowed to make trading. So as far as I can conclude from this.
1. If we want to legalize it in a country first we have to start a campaign of voting (election) for whether they should accept BTC as legal tender or not. But the majority of people will not vote in favor of BTC.
2. To circumvent it, governments have to teach them the impact blockchain and BTC could make on their economy. Once they understood the importance then most people will vote in favor of selecting btc as a legal tender.
3. But, things become interesting here. You can check the stats by Statista which tells us how many countries own BTC and how much. And it's amazed to see that countries that accept it are not in the top 10. And they are not making much from BTC as legal tender. Their economy is facing but countries that did not make it legal tender and still using it for trading, holding, and for p2p transactions are earning and improving the economy by paying taxes, etc.

Regarding your assertion, it is true that viewing Bitcoin as legal tender rather than an investment or get-rich-quick scheme can help increase adoption. Treating it as a currency rather than a speculative asset can help promote its use as a medium of exchange.

Well, here I try to add about the importance of Accessibility and Acceptance that can help Bitcoin adoption:

1. Accessibility: Making Bitcoin more accessible to the general public can help increase adoption. This can be achieved through the development of easy-to-use wallets and payment systems. Additionally, providing more avenues for people to buy and sell Bitcoin could help increase adoption.

2. Acceptance: Encouraging more businesses to accept Bitcoin as a form of payment can help increase adoption. This will create more opportunities for people to use Bitcoin in their daily life.

Therefore, it is important for people to understand these risks before using Bitcoin as a currency.

what is trending is because the government of Elsalvador legalized bitcoin, but in it, some people are not ready to fully realize it. for me it is a natural thing, especially at the beginning of a change there are obstacles that must be fixed, especially for the elderly, of course it will be more difficult to socialize it considering that they have not fully followed the development of the digitalization era. it's just a matter of how the government deals with the problems that occur, until bitcoin can really be fully used by all its people, so that the economy can improve soon, as the government hopes

come on friends, let's start from ourselves and those close to us. why,bitcoin/crypto is worth it,? because most of the large company owners are familiar with this currency asset. maybe for security and transaction speed. but not everyone wants to accept the very steep and sharp price fluctuations. will be faced. but its a good idea. think global. although local still need deeper counseling about bitcoin but let's educate. move together. the government is only a supporter and a vessel if they start it.

The two factors you mentioned are really necessary, in which education is the most urgent because only education can people understand and accept bitcoin. People are often afraid of what they do not know, or do not understand, once they understand, they will no longer fear or hate bitcoin. Education is a key factor in bitcoin's rapid global popularity, IMO.

by law they coul've forced merchants to allow payments, but they can recieve dolar converted by chivo. No big deal, but in reality very few merchants accept BTC. Bukele didn't forced it. What Bitcoiners should do is Do not pay FIAT in ES. Only waste BTC so they are forced to obey the law or loose Money

Although the El Salvador government bought at the high price and irrespective of the fact that they bought at the high price, it was a good initiative by the government to have seen the potentials in bitcoin investment (as they think). I strongly believe too that they bought at low to remedy their loss at the initial start which is also a smart move. Accepting bitcoin by the El Salvador Government as  a legal tender is a good step aimed at increasing the popularity, influence, awareness and adoption of bitcoin globally. In less than no time, the El Salvador government would start seeing the dividends of their acceptability of bitcoin by then bitcoin must have soared high causing positive roars in the world and other governments would be regretting while  the ones that took advantage of accepting bitcoin as a legal tender would be enjoying for following the steps if the El Salvador government.
In no was has the government failed in their bitcoin acceptance but rather they have succeeded in attracting the two world towards their direction as amongst the first country to have legalized bitcoin in their country and this act of theirs further created more awareness and adoption of bitcoin globally.

El Salvador's experiment has failed miserably because a year after the adoption no merchants are able to use a Wallet, no one has adopted Bitcoin as their first payment but worse still the state waller Chivo is centralized and satoshis disappear during transactions on LN .  Also, top-down adoption with propaganda hasn't worked much better than bottom-up adoption of Bitcoin Lake or Bitcoin Jungle.