What will increase Bitcoin adoption the most? - page 2.

Radientgurkin

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Quote from: JerryJam on April 18, 2018, 04:59:11 AM

Bitcoin is still very young. And he's got a lot of problems. They need to be addressed at the legislative level.Bitcoin should have a strong infrastructure and be safe.Its wide application will attract the attention of new investors.

Well said.

This is an interesting topic, IMHO public adoption will be due to a variation on BTC availability (ATMs) and usability (BTC Merchants).

Institutional adoption will probably depend more on scaleability and regulations.

PS. Cool thread, very interesting topic

Russlenat

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I think the increase of popularity and adaptation of bitcoin is because of its price that shock the world, many people now are curious about bitcoin on how it works and how to get it and many establishment today are accepting bitcoin as payment. Bitcoin really change the world and we can feel it now.

chillitabit

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Quote from: Kakmakr on April 18, 2018, 02:29:40 AM

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. Wink

Feel free to motivate your decision.

I think the price volatility is crucial. Right now bitcoin can't be used by general person who doesn't make enough money, because he will be scared his savings will decrease. The question is how to face that

JerryJam

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Bitcoin is still very young. And he's got a lot of problems. They need to be addressed at the legislative level.Bitcoin should have a strong infrastructure and be safe.Its wide application will attract the attention of new investors.

metenjean

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Quote from: Kakmakr on April 18, 2018, 03:37:03 AM

I am more inclined to say, that more Bitcoin merchants will boost the demand for bitcoins, but they will have to incentivize the switch from fiat to Bitcoin by offering special deals for people that pay with Bitcoin to increase adoption.

Its a double edge blade for the merchants actually, in one hand promoting bitcoin using special deals mean you should cut your profits just to make people emphasize the usage of bitcoin. Companies used to promoting new kind of payment using special deals but that deals were made by sponsors and less intriguing for merchants. However without offering special deals, these merchants can still hope a domino effect when more and more merchants adopting bitcoin as payment and that is why i still think more bitcoin merchants will be more effective than others. Grin

jseverson

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Scaling all the way! Though if I had the option to vote for two, I'd also pick merchant adoption.

I am of the opinion that for Bitcoin to be truly relevant, it must be able to give Visa et al. a run for their money as a payment option. Everything else is basically a band-aid solution. Bitcoin ATMs offer good publicity, but the public won't really be interested if they have no use for Bitcoin anyway. There's also higher prices, but like we've seen in December, support goes when the price goes. Ultimately, we should be gunning for utility over anything else.

universal3ee

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Activity: 406

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Quote from: Kakmakr on April 18, 2018, 02:29:40 AM

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. Wink

Feel free to motivate your decision.

I believe all the challenges above mention do play their part in attracting more potential investors and create more awareness to the public. I believe the help of government by not banning bitcoin will be the most beneficial to btc adoption. But government will not want to grow this decentralize platform which will put the centralized platform to risk, in another way our best option is go a longer way which is through big companies that adopt the usage of btc, and at the same time government will want to attract more MNCs into the country for tax and infrastructure purpose. So by attracting the MNCs the government have no choice but to be more lenient on the approach of btc.

Indrawan77

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I think we need to increase bitcoin popularity and explain the benefit of bitcoin to all people in the world, some people rejected bitcoin because they only hear things from media and then decided to abandon bitcoin, we need more workshop and more seminars about bitcoin and how to unrevealed bitcoin true potential

ahmadakbari

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All of these options can increase bitcoin adoption. But I think the most important issue which is not mentioned and should be solved and can help bitcoin to be adopted, is governments behavior with bitcoin and bitcoin users.
I know that they cannot stop people from usng bitcoin. But they can affect it very much. If governments officially accept bitcoin and let companies and shops to use bitcoin and know bitcoin as an official payment system, then bitcoin will be adopted.

semobo

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I think you can add one more point to that acceptability,if bitcoin will be accepted as a mode of payment in more shops or everywhere we can spend our money will increase the adoption among the people and high prices also can be a factor in adoption because it can attracts more people so more people will buy it.

teddy5145

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Quote from: BelieveInBTC on April 18, 2018, 03:31:19 AM

It's really difficult to tell what will boost Bitcoin adoption. I think that if large companies adapt Bitcoin and it's Lightning Network then definitely people will start to use it. Using Bitcoin is quite easy especially if you use web or mobile wallets. They are not secure but they are perfect for small transactions.

Microsoft and Newegg accepted Bitcoin, yet I don't see any significant boost in bitcoin users.
In fact, when a company started to accept Bitcoin as their method of Payment, most of the users who bought using Bitcoin are already Bitcoin Users and not someone whose completely new in Bitcoin.
Bitcoin Payment became sort of a niche that only used by the one who uses it, "Why would I use Bitcoin when I can pay using my card/Paypal." says the buyer who found out that their favourite website accepting Bitcoin.

If a government allows Bitcoin and legalize it as a secondary currency like Japan did. The number of a new business idea will sparks and this allows for Bitcoin Mass Adoption.
Not only it is allowed, but it is encouraged by the government, that's why Japan are one of the biggest Bitcoin Users.
Maybe OP can add "Government Legalization" as an option, because I believe it is the only way to achieve mass adoption

chris200x9

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By looking at last year trend I feel that higher the bitcoin prices it will attract more and more people into it. Based on my personal experience I was telling some of my friends about bitcoin when prices were less than 1000$ but they neglected but when prices were over 10K they came to me asking about how to buy bitcoins. With that what I understood it higher may attract many new investors to cryptos. It is just my opinion based on my personal experience so fat.

sammyp

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While I voted Combating FUD, I would have loved to see "advertising bitcoin" as a candidate. I say this because all the other points may be solved but if just a few people are aware bitcoin, adoption becomes slow. Advertisement on TVs and radio stations will help a lot of people to know the prospects of bitcoin and as a result, adopt it.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

Ok, I am surprised by the opinions so far. < 50% - More Bitcoin ATMs and 50% more Bitcoin merchants. > Do you think that the fees charged by these Bitcoin ATMs are low enough to increase adoption? I have seen some terrible examples of Bitcoin ATMs charging very high fees on Bitcoin purchases.

I am more inclined to say, that more Bitcoin merchants will boost the demand for bitcoins, but they will have to incentivize the switch from fiat to Bitcoin by offering special deals for people that pay with Bitcoin to increase adoption.

Interesting. Grin

BelieveInBTC

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BookiePro.Fun - The World's Betting Exchange

It's really difficult to tell what will boost Bitcoin adoption. I think that if large companies adapt Bitcoin and it's Lightning Network then definitely people will start to use it. Using Bitcoin is quite easy especially if you use web or mobile wallets. They are not secure but they are perfect for small transactions.

metenjean

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I think we need more bitcoin merchants which used to sell / buy item with bitcoin. Adoption in mass payment started when somebody using bitcoin to pay / purchase something. If we really want to accept bitcoin as future digital "payment" rather than digital "asset", more merchants mean that more people are using bitcoin across the world to purchase something, which will boost the demand and also the popularity of it.

I've seen a couple Bitcoin atm but never actually used it. Bitcoin atm also comes to mind when used to promotin bitcoin however i don't think it can be used yet since bitcoin regulation still has a long way before it finalized and ATM is something used by banking institution. It might comes to harm to bitcoin itself when bitcoin without any regulation have an ATM, and not to mention the safety of using that ATM hasn't proven yet

rumexx

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I believe bitcoin will be more adopted by the world economy if when bitcoin ATM machine is made available and affordable, when we have more merchants adopting bitcoin as mode of payments for goods and services. A lot of people will be happy to deal with bitcoin if the scalability issue and mining fees are reduced. If Amazon and Alibaba goes ahead to adopt blockchain as promised that will also widen adoption of bitcoin.

1993jochico

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I chose more bitcoin ATM machine because if we can have easy access with it and can be seen everywhere there are big possibilities that more investors will come because they will feel more secure about their investment and alao if we have more investor cause by ATMs the price will be higher and it is another way to increase the count of possible investors.

Kakmakr

legendary

Activity: 3514

Merit: 1963

Leading Crypto Sports Betting & Casino Platform

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. Wink

Feel free to motivate your decision.

Topic: What will increase Bitcoin adoption the most? - page 2. (Read 244 times)