Topic: What will increase Bitcoin adoption the most? (Read 257 times)
I believe that there are two major aspects on which we need to work when it comes to boosting adoption. We have to build mass awareness among merchants to accept Bitcoin as a payment method and it will increase the utility value of Bitcoin in the market. On the other hand, we have to make it faster and cheaper especially for the microtransactions because it doesn't make any sense to use Bitcoin for day to day things available at the price of $5.
I voted for the last option so that steam, reddit and others would decide to add bitcoin back to their payment option. I also want to vote on the 8th option with more merchants accepting Bitcoin it'll surely increase the adoption but at the same time we also need the last option for this to work.
In my opinion, the factor that will increase Bitcoin adoption the most is ease of use. So I went with FUD, as I guess that's the closest answer. The only way Bitcoin can achieve mass adoption is by making it accessible to everyone, even the 'straightforward' process of buying it is still too complicated for most people at the moment. The rest of it will only matter once that is resolved. Just my humble opinion.
The FUDs are just temporary though I don't think it's a huge problem that we should worry eventually people would be used to it as time pass by.. We dont really need to choose one among all. All you mentioned seems really beneficial to bitcoin adoption. However you might have missed "lesser transaction fees" we all want to use bitcoin at some point but really, what makes us less likely to use it is because we cant really avoid using a little amount to buy things we want and not having to pay huge fees. If we really want more people to incorporate bitcoin in their lives, we have to make it less expensive to use it.
Lesser transaction fees should be the same with the last option which is to solve the scaling problems. The Lightning Network would easily fix the problem on the miner fees. 
We dont really need to choose one among all. All you mentioned seems really beneficial to bitcoin adoption. However you might have missed "lesser transaction fees" we all want to use bitcoin at some point but really, what makes us less likely to use it is because we cant really avoid using a little amount to buy things we want and not having to pay huge fees. If we really want more people to incorporate bitcoin in their lives, we have to make it less expensive to use it.
The only way to have "more" of everything is if we have a more clear legal standing on cryptocurrencies. Yes by this time now businesses, establishments and manufacturers are aware of what Bitcoin is at least what they want to see is if their country will either support it or not. Clearly it is the only thing standing for mass adoption. Before we want to see Bitcoin ATMs we must know that if we transact with one we are not doing something illegal or anything.
It looks like we are leaning closer to "More Merchants" for now. A point I must make about this is the following : When we get more Bitcoin merchants, the community will have to support them. The latest tendency for most people seem to be to hoard coins and not to spend them and that is definitely not what is going to encourage merchants to accept Bitcoin as a payment option.
You should hoard about 80% of your coins and spend about 20% of your coins. Always trying to replace the coins you used. If everyone just hoard their coins, no merchant will continue supporting Bitcoin.
You should hoard about 80% of your coins and spend about 20% of your coins. Always trying to replace the coins you used. If everyone just hoard their coins, no merchant will continue supporting Bitcoin.
Mass adoption of Bitcoin is without a doubt was growing ever since the creation of it and will continuously to grow for as long as the Bitcoin developers will keep on improving it as a money/currency of the future. And for us that already knew about Bitcoin must spread the positive potential to other people that still doesn't know and against about it, in that way we can make a small contribution for its growth. I really believe to Satoshi Nakamoto 's vision for Bitcoin that's why I'm relax and calm as it will eventually make me fortunes in the future, Bitcoin is great so don't worry too much.
Close between scaling and getting more merchants for me, but in the end I choose scaling. It does suck that the network is close and still has a fee attached to all transactions. The day when we use 1 cent or less for every transaction and are able to send them instantly that day will be a game changer for Bitcoin. The reason I believe it is more pertinent than more merchants is because often times even when merchants add Bitcoin, hardly anybody uses that function. I know I would, but I am in the minority and most people don't want to spend their Bitcoins just yet.
I think OP should add a option for Government Acceptance or something like that. The adoption will increase much faster
when governments give their stamp of approval for Bitcoin. {legalization} I know for a fact that some businesses are just
waiting for their governments to legalize Bitcoin in their country to start using it in their future projects. One gaming site
even emailed me in response to my query about Bitcoin and said that they are waiting for their government to legalize
Bitcoin, before they will accept it as a payment option on their site.
when governments give their stamp of approval for Bitcoin. {legalization} I know for a fact that some businesses are just
waiting for their governments to legalize Bitcoin in their country to start using it in their future projects. One gaming site
even emailed me in response to my query about Bitcoin and said that they are waiting for their government to legalize
Bitcoin, before they will accept it as a payment option on their site.
According to my personal opinion when liquidity of btc will increase means that more merchants start accepting it as mode of payment and you can buy/sell goods with the help of this digital currency will increase the adoption of bitcoin globally.When more institutions and social platforms like facebook and Amazon start adopting blockchain technology and usage of bitcoin then prices will eventually boost.Bitcoin ATM can also be a help to people but it will need some huge investments and initiative so it can be thought later.So look on these matters fisrt of all.
In my opinion, what makes Bitcoin adoption increase more further is the merchants accepting Bitcoin as means of payment, especially those huge online merchants like ebay, amazon, alibaba because that's a huge market. Imagine amazon accepting Bitcoin as payment, and think of how many people use those platform to buy goods online. In that way, I think more people will consider investing in Bitcoin and the demand will increase. And the other one that I think can increase the adoption is to solve the scaling problem, we may not experience any increase in transaction fees right now but if the demand increases and more people gets involved in Bitcoin, transactions per day will also increase and the time that the mempool gets congested can happen again.
Everyone is focussed on the price these days, but we should rather shift that focus to the things that matter more, like Bitcoin adoption. When you look at Bitcoin adoption, you are faced with many challenges that can influence Bitcoin adoption and for this reason we should isolate the biggest challenge first and solve that.
So, in your opinion, what would you say is the single biggest challenge that we need to solve to increase Bitcoin adoption?
Here are some of the challenges :
1. We need more Bitcoin ATMs.
2. We need a higher Bitcoin price to draw investors.
3. We need a killer Application that solves real world problems
4. We need a killer Game that would go viral.
5. We need more Bitcoin exchanges to create competition and lower fees.
6. We need better Hardware wallets, with more security and user-friendly features.
7. We need a lower Bitcoin price and cheaper coins to attract more investors.
8. We need more Bitcoin merchants to increase demand for coins.
9. We need a army of fighters to combat FUD.
10. We need to solve the scaling problems.
So let's see what you think is the highest priority challenge that we need to solve to increase Bitcoin adoption.
Feel free to motivate your decision.
I don't think any of your given points would help in the widespread adoption of Bitcoin. You missed the key element here which is TRUST! How can people trust something that is as dynamic and volatile. People are obviously afraid to put their money into this.So, in your opinion, what would you say is the single biggest challenge that we need to solve to increase Bitcoin adoption?
Here are some of the challenges :
1. We need more Bitcoin ATMs.
2. We need a higher Bitcoin price to draw investors.
3. We need a killer Application that solves real world problems
4. We need a killer Game that would go viral.
5. We need more Bitcoin exchanges to create competition and lower fees.
6. We need better Hardware wallets, with more security and user-friendly features.
7. We need a lower Bitcoin price and cheaper coins to attract more investors.
8. We need more Bitcoin merchants to increase demand for coins.
9. We need a army of fighters to combat FUD.
10. We need to solve the scaling problems.
So let's see what you think is the highest priority challenge that we need to solve to increase Bitcoin adoption.
Feel free to motivate your decision. I would say that if any government makes Bitcoin legal in the country, then we would definitely see more users adopting it since that is the biggest fear factor in the minds of people
I chose bitcoin merchant adoption because I think if there are many merchants, it could be viable to for the people to chose their merchants where they can access in buying and selling bitcoins. With this, more people could put their investments in bitcoin where it could increase the demand thus resulting to stretched it's price value. Merchants should be legitimate and should have an audit by the bitcoin representatives before giving them the authority to operate.
Everyone is focussed on the price these days, but we should rather shift that focus to the things that matter more, like Bitcoin adoption. When you look at Bitcoin adoption, you are faced with many challenges that can influence Bitcoin adoption and for this reason we should isolate the biggest challenge first and solve that.
So, in your opinion, what would you say is the single biggest challenge that we need to solve to increase Bitcoin adoption?
Here are some of the challenges :
1. We need more Bitcoin ATMs.
2. We need a higher Bitcoin price to draw investors.
3. We need a killer Application that solves real world problems
4. We need a killer Game that would go viral.
5. We need more Bitcoin exchanges to create competition and lower fees.
6. We need better Hardware wallets, with more security and user-friendly features.
7. We need a lower Bitcoin price and cheaper coins to attract more investors.
8. We need more Bitcoin merchants to increase demand for coins.
9. We need a army of fighters to combat FUD.
10. We need to solve the scaling problems.
So let's see what you think is the highest priority challenge that we need to solve to increase Bitcoin adoption. Feel free to motivate your decision.
I don't think any of your given points would help in the widespread adoption of Bitcoin. You missed the key element here which is TRUST! How can people trust something that is as dynamic and volatile. People are obviously afraid to put their money into this.So, in your opinion, what would you say is the single biggest challenge that we need to solve to increase Bitcoin adoption?
Here are some of the challenges :
1. We need more Bitcoin ATMs.
2. We need a higher Bitcoin price to draw investors.
3. We need a killer Application that solves real world problems
4. We need a killer Game that would go viral.
5. We need more Bitcoin exchanges to create competition and lower fees.
6. We need better Hardware wallets, with more security and user-friendly features.
7. We need a lower Bitcoin price and cheaper coins to attract more investors.
8. We need more Bitcoin merchants to increase demand for coins.
9. We need a army of fighters to combat FUD.
10. We need to solve the scaling problems.
So let's see what you think is the highest priority challenge that we need to solve to increase Bitcoin adoption.
Feel free to motivate your decision. I would say that if any government makes Bitcoin legal in the country, then we would definitely see more users adopting it since that is the biggest fear factor in the minds of people
Need a light version of bitcoin with fast transitions and low commissions. then bitcoin again gaining a lot of popularity.
The increased price is the one that can lead to the large scale adoption of bitcoin. By the days of price increase over the past year once after the adoption from Japan furthermore adoption happened for a longer time period. So, in this regard I believe the price really contributes to the adoption of bitcoin.
I think more ATM will bring more adoption, even though bitcoin has huge daily trading volume there are not many companies that offers bitcoin ATM (not linked to VISA and mastercard shits). Most of the bitcoin ATMs only allow you to buy bitcoin not sell them and they even take high 5%+ commission. Bitcoin ATM market can be quite big if both selling and buying bitcoin will be made easier through these ATMs. People will first look at how easily and anonymously they can sell their coins before buying any bitcoin, if they can't find it as easy as buying than they will never buy bitcoin.
all of these things can do it really it depends on how much each of these options are happening. for example the FUD thing if it goes away or if people stop listening to it then it can be very effective, for example if people stop listening to the FUD telling them bitcoin is fraud!
but i think the most effective of all of them is more merchants specially big ones with big names such as Amazon. it will increase the adoption and it can also fight FUD too and it will increase the price the most.
but i think the most effective of all of them is more merchants specially big ones with big names such as Amazon. it will increase the adoption and it can also fight FUD too and it will increase the price the most.
In essence., I think Bitcoin can be supported by most governments, is so closely tied to the level of acceptance from various countries and the support to keep up with the development of bitcoin technology from time to time. The characteristic of bitcoin itself depends on the responses of many people I think, and it can indeed be balanced by various attempts, if indeed the whole countries knows it's more directed to the build side/advance, I'm sure it will be more powerful and increasingly used.
I feel like the only way for mass adoption of bitcoin and crypto in general is by real world use case. More merchants and ATMs would definitely make regular payments via bitcoin possible, which would make it more popular. I wouldn't exclude some viral killer game too, since it is a huge market.
Everyone is focussed on the price these days, but we should rather shift that focus to the things that matter more, like Bitcoin adoption. When you look at Bitcoin adoption, you are faced with many challenges that can influence Bitcoin adoption and for this reason we should isolate the biggest challenge first and solve that.
So, in your opinion, what would you say is the single biggest challenge that we need to solve to increase Bitcoin adoption?
Here are some of the challenges :
1. We need more Bitcoin ATMs.
2. We need a higher Bitcoin price to draw investors.
3. We need a killer Application that solves real world problems
4. We need a killer Game that would go viral.
5. We need more Bitcoin exchanges to create competition and lower fees.
6. We need better Hardware wallets, with more security and user-friendly features.
7. We need a lower Bitcoin price and cheaper coins to attract more investors.
8. We need more Bitcoin merchants to increase demand for coins.
9. We need a army of fighters to combat FUD.
10. We need to solve the scaling problems.
So let's see what you think is the highest priority challenge that we need to solve to increase Bitcoin adoption. Feel free to motivate your decision.
So, in your opinion, what would you say is the single biggest challenge that we need to solve to increase Bitcoin adoption?
Here are some of the challenges :
1. We need more Bitcoin ATMs.
2. We need a higher Bitcoin price to draw investors.
3. We need a killer Application that solves real world problems
4. We need a killer Game that would go viral.
5. We need more Bitcoin exchanges to create competition and lower fees.
6. We need better Hardware wallets, with more security and user-friendly features.
7. We need a lower Bitcoin price and cheaper coins to attract more investors.
8. We need more Bitcoin merchants to increase demand for coins.
9. We need a army of fighters to combat FUD.
10. We need to solve the scaling problems.
So let's see what you think is the highest priority challenge that we need to solve to increase Bitcoin adoption.
Feel free to motivate your decision. To me, having the most number of bitcoin merchants or the highest exhanges means that there would be more demand for bitcoin. Having a higher demand for bitcoin means that you have the flexibility to have bitcoin price increase more merchants integrating it not just as a payment system but also as a means to transfer money means that there are more pressure for the government and institutions to serioulsy look at bitcoin and to possibly regulate it
In my opinion, the factor that will increase Bitcoin adoption the most is ease of use. So I went with FUD, as I guess that's the closest answer. The only way Bitcoin can achieve mass adoption is by making it accessible to everyone, even the 'straightforward' process of buying it is still too complicated for most people at the moment. The rest of it will only matter once that is resolved. Just my humble opinion.
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