What one change to Bitcoin can make it's adoption faster?

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

Low transaction fees and fast processing, easy conversion from BTC to local currency, these features will make BTC the top priority over other currencies because BTC will be providing the feature of a currency while it actually an asset. So, small merchants and vendors who are taking off from BTC as a payment method due to high fees and slow transaction confirmation will adopt it in a second.

And besides merchants and vendors, there comes, investors of both kind (traders and holders) who will be adopting it anyway, whether this issue will be resolved or not because they have to spend money one time from one wallet to another. What in most cases I do is, if I have to send BTC in high congestion time from one wallet to another is.

I try to convert my BTC into some other coin and then send it to my required place and after receiving it on the other side, I use the built-in swap to convert it back into BTC. It also costs a fee but in most cases is less than the BTC fee. Because last time I checked, the fee to withdraw funds from Binance was around $17, and now is $8, but the fee was lower with other coins and then swapping it.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

If governments will adopt it like they adopt fiat then the old-minded people who don't like BTC will begin to like BTC. Because in my own country, it is banned so most of people don't even want to think about BTC because they think, it is a waste of time on thinking about BTC because it is banned by the government so why would we call it extra trouble when we are dealing with enough financial shits.

So, if the government is able the buy and selling of BTC directly from banks in a P2P manner without any involvement of centralization, then people will be convinced to adopt BTC at all costs. Because in my opinion, if a platform is promoted by the government then the people of that country will adopt it faster than a platform that is being promoted by some foreign, or third-party authority who have no devotion toward the country.

Government adoption is one of the many ways to increase the adoption, now the current way might be to increase the scalability of BTC because it will solve many of the other things collectively.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

Many people do not like bitcoins mainly because the government has not mainly said it is good. These people trust the government so much that they still want to believe that they are good and always make decisions that are good for them. If the government accepts bitcoins and finally it is good, it will affect the decisions of these people about it. Also, more people will adopt bitcoins if more people around them adopt bitcoins. There is a psychology to not wanting to be left out when there is a new and trending technology around you, if more people start using bitcoins, some of the people who do not have or use bitcoins now will adopt it.

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Quote from: coupable on November 27, 2023, 07:25:10 AM

Quote from: Despairo on November 27, 2023, 02:16:01 AM

Reduce or eliminating government intervention, this will make the country is free to choose what they likes including Bitcoin. But this change is something like won't going to happen since government was created to control the citizens. They control through the system where teacher can only teach base on their curriculum, TV broadcast or articles that only mention about crypto scams instead of Bitcoin is better than banks etc.

Like you, I do not like the state's heavy intervention in a way that does not take into account the privacy of citizens. But I disagree with you very much when we are discussing ways that can accelerate Bitcoin adoption. We can never cancel the fact that we still live in a global economic system based on centralization, which in countries occupies the most important place in regulating financial operations and everything related to finance. According to this standpoint, it would be very beneficial for the state to include blockchain education within the educational curricula at all levels (secondary and university), which will raise awareness of the technology and provide room for its use and thus adoption.
Today we have the United Arab Emirates as the most important example, although it does not fully recognize crypto, but adoption rates are on the rise after granting activity permits to crypto service platforms like Binance.

I would guess that going against the government is not the way to get adoption higher. I mean you may "wish" for something but the reality is different than what you wish for. The situation is clear, we are talking about something that would not be all that troublesome, I think it should be important to notice that if you really want no intervention by the government at all, then you are going to face some trouble, instead you should be trying to do something that will benefit you one way or another, and for that to happen you need to make sure that you have government on your side.

Not saying government should be against it, no, you can't even have government ignoring it, you may want that, but even that's bad, you literally need it supporting it. That will change everything, we need more legal tender nations, and possibly even bigger ones. That would make adoption of bitcoin a lot more, it should be something that would be considered positive for us.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

Bitcoin is decentralized, the reason why the government is not supporting it because they can't control it unlike fiat is. If only the government is being fair and will not see bitcoin as a threat, then the rate of adoption will certainly increase. The people won't question it because the government is already supporting bitcoin, so it will be an advantage for bitcoin to speed up its adoption process.

However, this is far from the reality that the government will support a decentralized currency. But if only the government is fair and just, then the people will not be restricted anymore to use bitcoin.

cafter

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Making people understand what bitcoin is, Most of the people don't research about bitcoin because many well known people who has big influence on the community have created an image of bitcoin as a scam.
people aren't familiar with what bitcoin truly is, and they don't take the time to research or learn more about it. instead, they rely on well known personalities on YouTube/TV for guidance and trust them.
I am telling this because i myself had viewed bitcoin as scam and had not done more research about it, because of influencers on youtube.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

Nothing more needed as that important than what's already there under the bitcoin network and the blockchain technology protocols, being a decentralized digital currency is one of the ways people developed interest in bitcoin, it's serving it's purpose already and we cannot say the little increase in the cost for making bitcoin transactions will be a reason for a decline in its adoption, the value and the needs for people to make use of bitcoin as an alternative currency alone is good enough to always adopt bitcoin because you are in charge of your finances.

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Quote from: Jawhead999 on November 27, 2023, 10:05:51 AM

Quote from: Smack That Ace on November 27, 2023, 09:39:36 AM

We should come up with practical ideas instead of just thinking aimlessly.

There have been many ways to promote Bitcoin, this one of the way.

With the current technology, no one can't search and learn about Bitcoin. There are many promotions about centralized exchanges, crypto casino or shitcoins, although it's not 100% promotion to Bitcoin, but they've know if Bitcoin is in there.

Bitcoin is known used to fight against the centralization and most people still think Bitcoin is only for rich, so it's really dangerous for Average Joe to promote Bitcoin.

What percent of poor people are currently using Bitcoin according to you?

kentrolla

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In order to make people adopt Bitcoin faster we need to have a strong community who should make Bitcoin accessible for everyone and to be honest Bitcoin cannot be used as an daily payment method for day to day shopping or paying bills due to volatility, though Bitcoin volatility is very lesser in crypto domain but for mainstream industries it's way too much this it will remain as P2P.

Some of you might not agree but these unreasonable extortion in the name of transaction fee is something which no one would like to pay and will always be a blocker between Bitcoin and adoptability though P2P will continue seamlessly

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If we are talking about Bitcoin adoption, well, from the replies here I agree that the government is one of the factors that affects the rate of adoption of Bitcoin. But sadly, Bitcoin here in my country in the PH is not that popular as few people are actively engaging in the crypto industry. From that, I could say that Bitcoin lacks the publicity and promotion for people to gain interest as they could see it in their everyday lives, since it's not popular only a few people there would be fewer promoters cause in the first place they wouldn't benefit if they pay for advertisement. Since crypto-related activities became popular back then as the government noticed that people could earn huge amounts without paying taxes, they tried to be involved by trying to put taxes but it's not possible at all since it's a decentralized system. But it gained attention from the public and many people entered the market.

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Quote from: Smack That Ace on November 27, 2023, 09:39:36 AM

We should come up with practical ideas instead of just thinking aimlessly.

There have been many ways to promote Bitcoin, this one of the way.

With the current technology, no one can't search and learn about Bitcoin. There are many promotions about centralized exchanges, crypto casino or shitcoins, although it's not 100% promotion to Bitcoin, but they've know if Bitcoin is in there.

Bitcoin is known used to fight against the centralization and most people still think Bitcoin is only for rich, so it's really dangerous for Average Joe to promote Bitcoin.

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Even though many governments are blocking Bitcoin, they still haven't stopped Bitcoin's dominance from rising, which is why it has taken 14 years. Take note: there are many who oppose bitcoin. What if most of the countries around the world have adapted Bitcoin to their territory just like El Salvador did?

So that means the adoption is accelerating even without the help of the government that is not open to Bitcoin, because there are as many communities that share the loveliness of Bitcoin's concept in the reality that happens in our lives.

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I think OP wants to discuss and come up with ideas to help bitcoin popularize faster. He's not talking about impossible scenarios like the government should stop paying attention to bitcoin, the government should allow people to use bitcoin freely...Those scenarios will never happen and are just illusions, not ideas. If we have a way to make that happen, I want the government to disappear completely, not just that I want them to stop interfering with our privacy or stop caring about bitcoin. We should come up with practical ideas instead of just thinking aimlessly.

moneystery

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adoption of bitcoin can be increased if governments do not hinder the use of bitcoin in their regions. so far, the problem most often faced by bitcoin in its adoption is that governments often prohibit the use and trading of bitcoin in their regions, as has happened in china, bangladesh and several other countries.

governments ban the use of bitcoin in their countries because they are concerned that bitcoin could disrupt their financial system and discourage many citizens from using fiat in their transactions, and that would impact their economy.

if only bitcoin could get regulation and be used in many countries, it would probably become a popular digital currency and its adoption would probably be higher than it is now.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

Accelerating bitcoin adoption depends on many factors - one of which is legal or regulatory clarity. If the government does not legalize bitcoin as a legal tender - then of course obstacles can be expected to accelerate its adoption. Many other factors also need to be mentioned such as security, innovation, convenience and community awareness of its use cases as well as sustainable and growing supporting businesses.

The adoption of bitcoin as a currency or means of payment has so far grown rapidly and it will continue to grow day by day. Support is not only coming from micro businesses but large scale companies are also starting to support bitcoin as a means of payment. The ecosystem is growing - but the case for using it as a currency is still hampered by regulations in some countries.

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The government could legalize bitcoin as a means of payment and investment instrument by making regulations regarding bitcoin. It can make people feel confident because their government approves the use of bitcoin.
Apart from that, the government is also trying to provide information that bitcoin provides more positive benefits than negative benefits to society so that people do not think that bitcoin is only for illegal activities.
Continuing to campaign for Bitcoin to be a long-term investment, maybe it will help people's curiosity to start learning about Bitcoin. That could provide an opportunity for it to accelerate mass adoption everywhere. But I don't know, that's just my thinking and maybe it could be wrong.

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Quote from: Zaguru12 on November 27, 2023, 02:15:59 AM

If we want to talk about something that could effect a rapid adoption of bitcoin i would say the government coming to fully support it. There are many people who still do not want to come in because of the government restrictions, so should the government actually supports it the way the do to their scam CBDC I think we will see a rapid increase in number of users. Take a look at how news of government relaxing its rules usually impact the price changes.

But do I see that happening? No because the government doesn’t want this freedom and privacy that comes with it. I also do not want government interference into it. So this current adoption rate seems ok to me

That can happen soon in the form of ETF. May be next year.

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Government should stay away from bitcoin and allow the bitcoin adopters to use bitcoin the way it was designed which is decentralization, and let them stop thinking that they can control bitcoin and also the people that are using bitcoin. This is because whatever the government controls end up being messed up, just like out fiat currency that they keep on printing and printing instead of tackling the problem of inflation. Bitcoin adoption is growing in the right way that it ought to grow and I don't see anything that is needed to help it grow faster because as the time passes, its adoption rate will keep on increasing and that is the best way slow and steady.

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Quote from: coupable on November 27, 2023, 07:25:10 AM

But I disagree with you very much when we are discussing ways that can accelerate Bitcoin adoption. We can never cancel the fact that we still live in a global economic system based on centralization, which in countries occupies the most important place in regulating financial operations and everything related to finance. According to this standpoint, it would be very beneficial for the state to include blockchain education within the educational curricula at all levels (secondary and university), which will raise awareness of the technology and provide room for its use and thus adoption.

That's correct if the country is adopting or friendly with Bitcoin, it can increase the adoption because they can promote Bitcoin to their citizen. But I don't like the adoption because of centralization support since they might ask their citizen to use their centralized wallet, exchange etc which is an another way to track the coins of their citizen.

Blockchain education isn't always related to Bitcoin because blockchain is just a public ledger, anyone including centralized banks can adopt blockchain to accelerate their operation.

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The only key is the adoption of government. We all know that even if we criticize the government for their doings, if they still ban Bitcoin or do not allow its usage we will still follow no matter what, so if the government will not interfere or even announce to the citizens to use Bitcoin, for sure adoption of it is huge and the information that was fed in the media is good, not the same now that they will involve bitcoin in illegal activities that will lead to making the image of Bitcoin bad. Only the government can make this happen unless people are educated enough to see the value of Bitcoin like us.

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Many believe that the adoption rate is very slow but others believe it's not, well, the truth is if the adoption rate of Bitcoin is very fast many who are seeing the present opportunities of buying Bitcoin right now wont be able to buy it, the higher the adoption rate the bigger the value of Bitcoin will be.

If you are here right now you are still early, judging with the world population, many people are still not into Bitcoin investment yet, I am kinda glad that the adoption rate is slow if that's what may think, because It will be hard to see Bitcoin bottoming at 17k, maybe the price will be so higher.

This is why I think that ETF approval will make things to feel different right after, the present opportunity might be the very last best, if truly the ETFs get approved, this will change everything, seeing better new lows in coming bear market won't be like the past anymore.

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Adoption hasn't been slow, has it? It is common to say 'don't fix what's not broken', so i'll not change anything about the current state of the BTC network for faster adoption. I see people suggesting regulations and government involvement as things they would gladly accept for a faster adoption, but that is a no for me, i believe the government, blockchain analysis companies and centralized exchanges are very big problems to BTC and how it was supposed to operate.

Adoption will be faster when people see the need to use a censorship resistant currency, and not when the currency changes to suit them, i prefer for BTC to remain in the nature it was designed with slow adoption, than for it to fall under the control of LE and centralized agencies just for faster adoption.

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Quote from: lombok on November 27, 2023, 05:24:19 AM

Interest and legality from the government could be a major booster in increasing Bitcoin adoption. Which leads to increased innovation in several business sectors, especially those related to investment. Yes, we can see together that perhaps positive steps from big countries such as America, Russia and China can also provide positive sentiment, where historically these countries still have a big influence on the Bitcoin market and its adoption.

The sad truth about this is that the government will not approve it. Did you follow the Binance court case? One of the charges was that Binance facilitates a lot of transactions for criminals. Now, Binance is a centralized system where transactions are been monitored and with the $4B charges, if they should have looked further, a lot will be revealed but that is that. With the disappointment of the US government and Binance, do you think they will like typical blockchain transactions where there is zero censorship and no middleman, even the Binance case is enough for the government to have second thoughts about bitcoin regulation because they just send a wrong message to other governments that have been friendly to bitcoin.

Legality will be hard, maybe for now but perhaps in the future when things become simple for them to comprehend about bitcoin, they will be allowed that freedom of people they have been holding against the free will of the people. We may also be like this forever, who knows but as long as bitcoin adoption never slacks for once and the interest keeps improving, then I have no interest in whatever the government want to do with bitcoin, as long as they don't disapprove the use, I'm fine with their decision.

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Quote from: Despairo on November 27, 2023, 02:16:01 AM

Reduce or eliminating government intervention, this will make the country is free to choose what they likes including Bitcoin. But this change is something like won't going to happen since government was created to control the citizens. They control through the system where teacher can only teach base on their curriculum, TV broadcast or articles that only mention about crypto scams instead of Bitcoin is better than banks etc.

Like you, I do not like the state's heavy intervention in a way that does not take into account the privacy of citizens. But I disagree with you very much when we are discussing ways that can accelerate Bitcoin adoption. We can never cancel the fact that we still live in a global economic system based on centralization, which in countries occupies the most important place in regulating financial operations and everything related to finance. According to this standpoint, it would be very beneficial for the state to include blockchain education within the educational curricula at all levels (secondary and university), which will raise awareness of the technology and provide room for its use and thus adoption.
Today we have the United Arab Emirates as the most important example, although it does not fully recognize crypto, but adoption rates are on the rise after granting activity permits to crypto service platforms like Binance.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

You think its kinda slow yet? Adoption of bitcoin grows immensely as Ive noticed it. Before only few countries talka about it but its a renowed commodity globally now. Maybe the use case isnt much that famous to others but there are merchants who keeps using it now and it will only likely to increase in the future as more people becoming engage and interested with its technology as a store of value and transparent utility for anyone.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

The fastest way in my opinion to make the adoption faster is by government not intervening in the widely used of it. When they remove the limitation of its use to their peoples and stop attaching negative words to bitcoin, it can easily convince people to embrace it for mass adoption of it and uses. Government is always the bedrock of any technology that comes new, without their acceptance, it becomes very hard for people to understand and embrace its use.

Regulations is killing many innovations that ought not to be regulated, some of which are worth been regulated and some just for their own self benefit as the case of bitcoin. If the government really wants to have a say in this bitcoin adoption, and we want its mass adoption quicker, we will have to give in to their regulations and laws before we can comfortably use it anywhere in the world.

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People have to change not Bitcoin, if you ask me. After all the reason why majority of people who haven't bothered looking at Bitcoin is not about how Bitcoin works or what it is. It's all about their ignorance and the fact that they are used to the fraudulent existing economy with uncapped fiat that keeps being printed causing inflation.

They need to want to want that exit out of that system before Bitcoin adoption can grow. I'm afraid for many of them another 2008 collapse is the kick they need to make that change.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

Outside of government intervention because dealing with them is too complicated. In my opinion, the way to accelerate Bitcoin adoption is to increase the number of people who are serious about knowing how Bitcoin works as a financial transaction system and comparing it to how fiat works. When people know well about the greatness of the Bitcoin system in carrying out transactions, I am sure that people will no longer make their main interest in buying Bitcoin because it is solely an investment asset in the hope of getting rich but instead make Bitcoin a financial transaction system.

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Is this about one change towards Bitcoin? Like how we treat it or see it as? Or the actual Bitcoin itself to change?

You should be more clear on the question because a lot of things can be interpreted with that. I think the part with you said "To Bitcoin" on the subject makes it as if to change how its technology works or anything.

I'm quite confused.

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Interest and legality from the government could be a major booster in increasing Bitcoin adoption. Which leads to increased innovation in several business sectors, especially those related to investment. Yes, we can see together that perhaps positive steps from big countries such as America, Russia and China can also provide positive sentiment, where historically these countries still have a big influence on the Bitcoin market and its adoption.

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Many people knows that my fiat currency is worst and devaluating almost every week but they still can't accept that Bitcoin will solve this problem.

Some are waiting for the government to announce that everyone should own Bitcoin for their own future sake which is impossible.

Some still think that the government are so smart that they see through all things, no one wants the best for them than their government.

Bitcoin is not perfect like you said but it's not as worst as the rulers of this centralized world, unfortunately people are just too blind to see, and there is no way to change their minds.

What will be of benefit if non believers in what Bitcoin actually does are stating to adopt Bitcoin? It makes no sense, so gradual adoption is way better, let every slow down with Bitcoin adoption, it's for the greater good.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

If you want to go far, go naturally that requires to go slowly and gradually too.

This sounds opposite with what Bitcoin has been experienced and has been growing but I believe we need organic growth of Bitcoin, not something like a one-shot booster that does not have long lasting effects.

Compare Bitcoin with Internet, it has very massively faster adoption.

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The speed of conducting financial transactions for parties that do not have bank accounts or have difficulty accessing SWIFT. There may not be a person who knows that using Bitcoin, sending anything to anyone in the world is easy and fast.
Inflation: Inflation has reached almost all countries. It is true that some of them feel it to a lesser degree, but inflation is one of the reasons that will push more people to think about Bitcoin and cryptocurrencies.
Overall, Bitcoin users are growing well and it is better to think of it as a payment instrument rather than an investment.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

I don't know if this will happen because not all are supportive of Bitcoin, but the Government might be one of the reasons for Bitcoin to get adopted quickly.

I know this isn't realistic because there are some countries that are already anti-Bitcoin and prohibit their countrymen from using Bitcoin, but if only all of the governments would allow their people to use it, and at the same time help at least to promote it then I believe it might be a game-changer. The government changing perception towards Bitcoin might change its adoption of it and can make it quicker.

Overall, I guess there's no need to change. I mean there are many Bitcoin supporters who are constantly promoting Bitcoin in different social media platforms and with many people using social media, I believe that the adoption is much faster than what it was years ago. The only problem is how they look at Bitcoin. There's nothing wrong with the pace of adoption, but how people see Bitcoin is the problem because I believe many people don't want to buy or at least invest into it because they see it as either a scam or a faster way to lose their money because of its volatility. Adoption isn't the problem, its how we teach the new ones.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

One change? We don't need any change. We've been looking at all those points where the changes should be made long time ago but there's no need to think of it anymore.
It's because one change that we're all waiting for is about the government adoption that we're thinking unlikely to happen before. But with things right now, it's happening.

un_rank

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If we are looking to change something it should be how to improve the network to make it more decentralized and censorship resistant and not how to attract more people. Bitcoin was not designed to be used by everybody cause the majority are not interested in privacy and are not bothered by the government monitoring them.

Bitcoin is not a company which is bothered about growth and profits but about fulfilling its goal of eliminating the need for third parties and offering financial freedom to those who want it.

Although there is some middle ground where improving one aspect of bitcoin or the other can make the experience better, one of those aspects is transaction cost and scalability.

- Jay -

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

That could only happen if the government refrains from intervening, Bitcoin will function as intended, leading to rapid adoption. People tend to prioritize their privacy, and in this regard, Bitcoin has an advantage as it operates in a decentralized manner. This stands in contrast to centralized options favored by the government.

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Bitcoin isn't perfect, yes, but what's the alternative? My point is that Bitcoin's adoption rate would increase a lot not necessarily by changing Bitcoin's imperfections but only by making people aware of the real situation of the currency they are using. Bitcoin is far from perfect, but the mainstream currency is much worse, not even worth comparing with Bitcoin. So, it's enough that the people realize how oppressed they are by the fiat system and Bitcoin adoption accelerates.

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I do agree regulation and acceptance are maybe the best ways to quicken Bitcoin adoption.

This is where many of the users are stuck. Either their Authorities show straight up resistance against Bitcoin or they have very uncertain regulations inducing fear of misusing Bitcoin.

To the normies Bitcoin becomes overly complicated when they hear about the Tainted / Non Tainted B S and all the political drama surrounding it. Regulations change every now and then producing even more confusion about Taxes and other responsibilities.

We need a moment of fresh air. Some air cleaned of resistance.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

Bitcoins are already been accepted or adopted rapidly. This is the reason for which Bitcoins price suddenly increased to 69k usd from 20k usd. Regarding the flaws then, it can be blockchain transaction fees issue. That’s the only thing that I have seen people complaining. If you ask me then Bitcoins are perfect as a digital asset, it has very high capability to give you maximum profit in longer period of time.

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Quote from: krishnaverma on November 27, 2023, 01:53:48 AM

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

How fast do you want bitcoin to be adopted? Because in my opinion, the popularity of bitcoin is increasing at a very fast pace, not slow. I think everything needs time and challenges, something that is accepted too quickly is not necessarily good.

One of the important milestones we are working towards is the ETF, I believe that once the ETF is approved, bitcoin will soon be used globally. It can be said that the government is the biggest barrier to bitcoin, but I think once the SEC approves the ETFs, governments that are skeptical about bitcoin will have to change their views on bitcoin.

Despairo

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Reduce or eliminating government intervention, this will make the country is free to choose what they likes including Bitcoin. But this change is something like won't going to happen since government was created to control the citizens. They control through the system where teacher can only teach base on their curriculum, TV broadcast or articles that only mention about crypto scams instead of Bitcoin is better than banks etc.

Zaguru12

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If we want to talk about something that could effect a rapid adoption of bitcoin i would say the government coming to fully support it. There are many people who still do not want to come in because of the government restrictions, so should the government actually supports it the way the do to their scam CBDC I think we will see a rapid increase in number of users. Take a look at how news of government relaxing its rules usually impact the price changes.

But do I see that happening? No because the government doesn’t want this freedom and privacy that comes with it. I also do not want government interference into it. So this current adoption rate seems ok to me

krishnaverma

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Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

Topic: What one change to Bitcoin can make it's adoption faster? (Read 436 times)