Topic: What sort of event will trigger mass adoption? (Read 2779 times)

Another recession or perhaps some really significant press news
It's really hard to tell were at the stage where were moving now but where adoption is growing steadily
What makes it mainstream might just be an application that makes it a lot easier to acquire.

We must differentiate "mass adoption" from "mass acquisition" of bitcoin. "Mass acquisition" is when majority of the public buy bitcoin, and "mass adoption" is when majority of the public buy AND use bitcoin for transactions. "Mass adoption" can only come when large numbers of merchants, resellers, and service providers accept bitcoin. The penetration takes time, there is no one event which can trigger "mass adoption" worldwide.

Well if both countries have large enough acceptance/adoption rates then sending bitcoin from one country to another would no longer be "Remittance" but would rather be simply transferring money via bitcoin.

This does not solve the adoption problem, but rather gives another potential use once adoption increases

Remittance market's so damn difficult to tap into because they're inherently "foreign." I don't assume people paying remittances have a lot of time on their hands. Seems like there's not really a route for Bitcoin awareness to spread outside word of mouth.... maybe producing materials in multiple languages which could be passed around might help. It's definitely a place for grassroots, but it seems like it'd need a massive push. For example, US-Mexico remittance would need offices in both countries organized as non-profits, where they help people send and receive money without fuss and fees. ATMs and ATMs with internal user wallets could be immensely helpful here since it could allow this non-profit to only need to exist for a few years as a kind of stop-gap while also being an educator.

The best bet might be a NFP talking to employers in appropriate areas about how they can help their employees get more out of their paycheck, and how the employer can build good will in the process. Mass mailings targeting employers might also be cost-effective...

The so called remittance market seems to have not taken off.

Maybe tourism will be the next. Tickets, pubs, ATM's and hotels.

I was thinking about the influence of factories on culture at work, mostly as it related to religion. It's basically impossible to adhere to any kind of modesty/repression-demanding religious ruleset in a modern US factory with American-style management, and I was wondering if it might've helped lead the decline of Christianity in the US more than the free flow of ideas.

Probably the best chance of a mass adoption trigger exponentially increasing price and user base would be a major outsourced payroll company offering all employees the option to take a percentage of their pay in BTC by default, especially because the change would trigger HR sending out communications alerting everyone to the change along with an explanation.

It sounds like you are arguing that bitcoin will need to become more evenly distributed in order for more people to adopt to using it. I would agree that bubbles will likely encourage people who hold large amounts of bitcoin to sell a portion of their holdings however I would disagree that this is the only reason why people with large bitcoin holdings will want to sell their bitcoin

Keep spreading the word, people! Every Lyft or Uber that I take, I've been casually mentioning Bitcoin to the driver, and then telling them a little bit about it. None of them so far have really heard that much about it. Once PayPal integrates it, theoretically even Lyft or Uber will be able to accept it. Even more awesome would be Bitpay or Coinbase integrated directly into their apps as one of the alternate payment options.

A series of exponentially increasing valuation bubbles, and the subsequent redistribution of that newly created wealth, into the hands of those that find the greatest utility, will create a self fulfilling network effect. Hence adoption will drive mass adoption.

Bitcoin is a financial virus. The greatest trick Satoshi ever pulled was capitalizing corporate greed against itself.

  / true story.

Yep and there's so many more ways for a lot more people across the globe to get their hands on coins during such a scenario. We just need to consider and ask ourselves that with such a broader and available market to participate in the "fear of missing out", what kind of a magnitude it could drive the price in relation to the last big one. This time, Bitcoin won't be this thing that came out of no where and people have never heard of it much less have a clue what it is and how to get them. However, I'd like the growth to be more organic in terms of businesses offering discounts for purchasing in Bitcoin so the properties behind the coin can be the driver in demand and consequentially, the pricing.

Halving helps because it causes a decrease in supply, which promotes increases in price, which leads to media attention and even more speculative buying and price increases. A new wave of users is tempted to buy because of "fear of missing out."

I dont see how the halving is relevant to mass adoption in any case? how does the mass care about halving, when most dont even know what Bitcoin is? what would make them want to own and use Bitcoin? how does the halving help.

Just a thought...

We need normal non-Nerd people using Bitcoin.
They want to pay using a method that is known to them.
They know cash and they know plastic.

Although centralized, if VISA and/or Mastercard would adopt Bitcoin this would be a great intermediate step towards mass-adoption.
Most people want their money to be protected/insured anyway forcing them to entrust a bank with their money. Keeping all your money at home was never a good idea .

Paying native-decentralized-homeprotected-bitcoin would be for the more advanced black-market people

In a later stadium we might even put our money in the cloud
Cloud-Banking

massadoption comes with bitcoin failing due to Karpeles dumping until the year 2018 and dogecoin replacing it 

Adoption is ongoing. There is no such thing as 'Mass Adoption' as this is just a continuation of adoption past a critical point when the critical mass falls within "Mainstream".

The best way to consider this is to look at something which was been created recently and is now acceptable or deemed redundant.

One of my very early jobs was as a Capital Equiplment salesperson wen I was about 18 and had decided not to go to Uni but get a job. It paid very well if i hit target and I got a Company Car.

So we are talking about the 'Birth' of the plain paper photocopier. No one had one and i made shed loads of wonga!!!

Just as i started they released a Fax machine. To be honest we were busy selling photocopiers and couldnt really see how we could sell the Fax.

So ask yourself this. You have the first Fax machine, no one else has one.. How do you sell it on the grounds NO ONE has a machine to send Faxes too.

So I will tell you and then you will understand adoption.

We found businesses which paper and time were of value and had multiple office locations.. Such as Solkicitors and accountants. We sold it to them as a very cheap and fast way to share inofrmation internally.

It took about 8 years before there were enough machines were in the world that suddenly it was recognised as the better way of B2B communication

There will NOT be ONE event.. its happening as we speak however there may be some small event which severely affect the BTC value such as Chinese panicking when we spiked $1000.

I would suggest that 'Mass Adoption' is defined by market cap and my figure would be a BTC price circa @10,000.

March-April 2016 is optimistic, currently it's: Reward-Drop ETA: 2016-07-31.

The next halving is more like March-April 2016. We are a bit ahead on schedule.

First world countries really don't need Bitcoin in the immediate future.  Waiting for the next global recession could take awhile. 

It's the third world countries that need Bitcoin due to no banking and expensive remittance fees.

I think it was a zerohedge article. Haven't bothered looking for official sources, nor do I feel any need to. I'm sure google can help.

Watch out for us banks too by the way. They are all playing the same game.

1) Country adopting radical austerity measures
2) Country seizing wealth (Cyprus 2.0)
3) Hyperinflation in a Western country, esp. US
4) Germany leaving the Euro or OPEC excommunicating the petrodollar
5) Default by Japan, UK, or other major economic power
6) Crypto-only mainstream "killer app" gaining major popularity w/ marketing blitz through traditional media (esp. television)
     6a) Coverage of BTC ATMs (within 25mi radius) of >75% of at least 3 major economic powers
7) Extreme distrust in government; ebola/MERS/etc panic, weapons bans (US), production nationalization, climate change collapsing/destroying infrastructure

Not really sure we'll see some particular, magic "trigger event." More likely a gradual change, I'd think.