What your ideas about bitcoin adoption in the future? - page 4.

Moeda

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Quote from: Fawwaz wildan on July 31, 2022, 03:27:07 PM

I am still very new to the bitcoin world and of course there are many questions I still need to ask this community about bitcoin to clear up any confusion.

Bitcoin is a new type of currency that is constantly evolving. Many new ideas about its use as a means of payment will be discovered and perhaps this revolution will continue to escalate. Here in my country bitcoin is not a legal tender, but I know that some of you may have used it as a means of payment for goods or services. As for new ideas, I think of a few but the fact doesn't directly allow me to legally adopt them as doing so would be against the law. How about you, do you have any good ideas for future bitcoin adoption?

Bitcoin adoption will take place, and anyone who understands crypto developments will adopt Bitcoin as an asset as well as a means of payment. The legality of the law will go along with the times. Currently it is impossible to issue a legality, because there are still many people who are unfamiliar with blockchain technology. So that the legality is not misused by certain parties. Although currently there is no legal legality, the use of Bitcoin can run smoothly, meaning that those who use Bitcoin today must be prepared with all risks. The biggest risk in my opinion is price fluctuations.

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Quote from: Despairo on August 16, 2022, 11:15:23 PM

Quote from: LittleBitFunny on August 16, 2022, 10:36:59 PM

As for myself, I don't expect price stability to come to bitcoin in the future, and if bitcoin becomes more stable and less volatile, I think it will negatively affect the appeal of bitcoin.

Why did you think less volatile would negatively affect Bitcoin? Currently most of people who don't like Bitcoin is because of the high volatility, they're scared if the price can increase or decrease for 10% in a single day. Take a look with the other assets, they're have more confidence and trust when the price didn't change very massive. IMO if Bitcoin is less volatile, I'm expect more adoption will happen since there's no need to worry for them.

I fully agree with you that extreme volatility of Bitcoin is the main hindrance in its mass adaption, volatility will only come down when its marketcap will reach at least $5 trillion, then whales won't be able to shake its price easily because its investment base will be broadened . in the current scenario, volatility is benefiting short term traders who are smart traders and know well how to take benefit of volatility.

Oneandpure

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Quote from: Z-tight on August 17, 2022, 01:32:27 AM

I don't think bitcoin users who have acquired enough information about bitcoin will be confused when bitcoin dumps because they will be able to associate the dump to one event or the other, either weak hands are selling massively, fud, news of government regulation and so on. I feel many people are only afraid of bitcoin because they have no knowledge and good information about it, and they are not ready to research about it, but they rely on information provided in the news or by others that most times do not give the accurate details about the network. I can conclude that anyone who is afraid of bitcoin in 2022, has not researched well about it.

Another risk with adopting bitcoin as legal currency transaction when price suddenly drop how many people already accepting their investment or currency transaction values drop. Maybe as investment assets not really problem when bitcoin become legal currency transaction because they keep hold and wait until price going up, but what happen with market place when accepting bitcoin as legal currency transaction but not convert to be fiat money before bitcoin going dump, actually they will loss and can get back capital based on product selling, but if they can convert bitcoin transaction faster not matter what happen with bitcoin going up or down.

Z-tight

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Quote from: NicNacCoin on August 16, 2022, 05:15:00 PM

Sometimes we ourselves get confused by the massive dumping of bitcoins. But it is because of this one problem that people are a little afraid of Bitcoin.Moreover, this Bitcoin is perfect in all aspects.

I don't think bitcoin users who have acquired enough information about bitcoin will be confused when bitcoin dumps because they will be able to associate the dump to one event or the other, either weak hands are selling massively, fud, news of government regulation and so on. I feel many people are only afraid of bitcoin because they have no knowledge and good information about it, and they are not ready to research about it, but they rely on information provided in the news or by others that most times do not give the accurate details about the network. I can conclude that anyone who is afraid of bitcoin in 2022, has not researched well about it.

Oasisman

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Quote from: nullama on August 16, 2022, 08:48:14 PM

Quote from: TimeTeller on August 16, 2022, 06:58:34 PM

~snip~
I believe, we will not see yet the stability of price of bitcoin in the next years to come.
However, the adoption will more than likely increase as years go by.
But we can't expect all to join this market, as many will still prefer fiat or other traditional payment method.
Just be grateful if this will expand its market. The more demand, the better for the price of btc.

The thing is that we'll start to see more and more services built on top of Bitcoin.

So, even if someone is doing an international transfer in fiat, most probably there will be a Bitcoin transaction under the hood to make it happen.

In the same way that the Internet is now pervasive, in the future Bitcoin will be everywhere as well.

This is most likely to happen. Bitcoin will become a thing for an international transfer in a few years now.
I am in the freelancing industry currently and I can tell how inconvenient the banking processing would be. It would take 3-4 days before the money is cleared directly to your bank account. Whereas Bitcoin has no boundary and can be sent everywhere with just mere Bitcoin address.
So, yeah Bitcoin will become a top option for an international transfer soon. However, 3rd party exchange companies might take advantage of it.

Falconer

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Quote from: nullama on August 16, 2022, 08:48:14 PM

The thing is that we'll start to see more and more services built on top of Bitcoin.

So, even if someone is doing an international transfer in fiat, most probably there will be a Bitcoin transaction under the hood to make it happen.

In the same way that the Internet is now pervasive, in the future Bitcoin will be everywhere as well.

I believe adoption will get better in the future and maybe many countries will consider it. Many services will be built on bitcoin for both small and large scale, but obviously we will be betting for a long time as legality issues will still be the thing that will affect adoption the most.

Volatility and legality are two reasons why bitcoin is still difficult to adopt in various services even though the state has legalized it as a legal currency. One should consider volatility so it is not uncommon for adopters to also accept stable altcoins like USDT or others for their business and services. But I firmly believe that volatility will decrease as adoption increases in different countries.

Despairo

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Quote from: LittleBitFunny on August 16, 2022, 10:36:59 PM

As for myself, I don't expect price stability to come to bitcoin in the future, and if bitcoin becomes more stable and less volatile, I think it will negatively affect the appeal of bitcoin.

Why did you think less volatile would negatively affect Bitcoin? Currently most of people who don't like Bitcoin is because of the high volatility, they're scared if the price can increase or decrease for 10% in a single day. Take a look with the other assets, they're have more confidence and trust when the price didn't change very massive. IMO if Bitcoin is less volatile, I'm expect more adoption will happen since there's no need to worry for them.

LittleBitFunny

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Quote from: NicNacCoin on August 16, 2022, 05:15:00 PM

In the future Bitcoin will gain acceptance and popularity all over the world due to the way Bitcoin is prevalent among people.Once upon a time all the countries of the world may have the legal ghost of Bitcoin, now almost many countries have the legal validity of Bitcoin.Other countries are considering legalizing it.But if the price range of Bitcoin is stable then it will be more popular.Sometimes we ourselves get confused by the massive dumping of bitcoins. But it is because of this one problem that people are a little afraid of Bitcoin.Moreover, this Bitcoin is perfect in all aspects.

There is no doubt that irrespective of how hard the government tries to block bitcoin, with the current development and the fact that it is going to increase in the future, bitcoin adoption will soon happen mass.

As for myself, I don't expect price stability to come to bitcoin in the future, and if bitcoin becomes more stable and less volatile, I think it will negatively affect the appeal of bitcoin.

nullama

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Quote from: TimeTeller on August 16, 2022, 06:58:34 PM

~snip~
I believe, we will not see yet the stability of price of bitcoin in the next years to come.
However, the adoption will more than likely increase as years go by.
But we can't expect all to join this market, as many will still prefer fiat or other traditional payment method.
Just be grateful if this will expand its market. The more demand, the better for the price of btc.

The thing is that we'll start to see more and more services built on top of Bitcoin.

So, even if someone is doing an international transfer in fiat, most probably there will be a Bitcoin transaction under the hood to make it happen.

In the same way that the Internet is now pervasive, in the future Bitcoin will be everywhere as well.

TimeTeller

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Quote from: NicNacCoin on August 16, 2022, 05:15:00 PM

In the future Bitcoin will gain acceptance and popularity all over the world due to the way Bitcoin is prevalent among people.Once upon a time all the countries of the world may have the legal ghost of Bitcoin, now almost many countries have the legal validity of Bitcoin.Other countries are considering legalizing it.But if the price range of Bitcoin is stable then it will be more popular.Sometimes we ourselves get confused by the massive dumping of bitcoins. But it is because of this one problem that people are a little afraid of Bitcoin.Moreover, this Bitcoin is perfect in all aspects.

I believe, we will not see yet the stability of price of bitcoin in the next years to come.
However, the adoption will more than likely increase as years go by.
But we can't expect all to join this market, as many will still prefer fiat or other traditional payment method.
Just be grateful if this will expand its market. The more demand, the better for the price of btc.

NicNacCoin

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In the future Bitcoin will gain acceptance and popularity all over the world due to the way Bitcoin is prevalent among people.Once upon a time all the countries of the world may have the legal ghost of Bitcoin, now almost many countries have the legal validity of Bitcoin.Other countries are considering legalizing it.But if the price range of Bitcoin is stable then it will be more popular.Sometimes we ourselves get confused by the massive dumping of bitcoins. But it is because of this one problem that people are a little afraid of Bitcoin.Moreover, this Bitcoin is perfect in all aspects.

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Quote from: Fawwaz wildan on July 31, 2022, 03:27:07 PM

As for new ideas, I think of a few but the fact doesn't directly allow me to legally adopt them as doing so would be against the law. How about you, do you have any good ideas for future bitcoin adoption?

Adoption increases when the users are themselves aware of the pros and cons of a system. So I say, we make our peers aware of crypto and how it works, how to keep it safe and what are its pros and cons. If someone takes you a tin-foil hat guy, which can happen when trying to give a speech, avoid them.

But still if governments are giving an illegal stance to crypto, then all your work will go in vain. We can assume that it will not happen, because such moves are taken mostly by conservative sects. Rest are keeping it in a "grey" area and evaluating risks vs rewards.

There is very little you can do as a single person so try to gather a community in your city or locality and see how that grows.

adzino

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I doubt they are going to use bitcoin in current form as a form of payment to make day to day transaction. If it becomes mainstream, network usage will increase, transaction fees will skyrocket, and confirmation time will be unbearably long. So unless some kind of solution is found (like lightning network) that can be used easily, everyone will stick to using other altcoins that will have lower fees and faster confirmation time. Or maybe people might end up using centralized wallets (sadly) like coinbase and binance to pay instantly.

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Quote from: usekevin on July 31, 2022, 05:38:50 PM

Now the demands of bitcoin was reduced due to the reduction in bitcoin price.But in parallel,new people was get into the crypto currency.Specifically they make some investment in the bitcoin.So the bitcoin had good future by considering as an asset.It also had great scope by the mean of stock market trading.

it should be if the price of bitcoin decreases, it makes the right momentum to buy and save bitcoin for the future as new people who enter crypto investment do.
they prefer bitcoin because it is feasible to invest even though it is risky but bitcoin itself actually has a risk that tends to be smaller than other crypto assets.
bitcoin is a crypto with great potential for its holders to be able to generate multiple profits in the future, over time bitcoin is getting rarer and more countries will adopt bitcoin so that it can make it the most valuable asset in the world.

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Quote from: Rockstarguy on August 10, 2022, 08:46:42 AM

Bitcoin will gain more adoption from different countries in the future, already some government who criticise bitcoin are using bitcoin to invest and as a means of exchange for goods and services. In the future bitcoin the rate at which people use bitcoin and it may cause the price of bitcoin to be more expensive. Time to come people will be make use of bitcoin freely to purchase whatsoever they, bitcoin will be common currency for business.

I also believe that in the future bitcoin will be more and more widely accepted, but for bitcoin to be freely used in buying and selling goods and becoming a currency, it is still too early to say so.

Perhaps the government will recognize bitcoin as a commodity or asset rather than a currency, if bitcoin becomes a currency, perhaps the government will need more tools to control it before accepting it as a currency.

Reatim

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Quote from: Fawwaz wildan on July 31, 2022, 03:27:07 PM

I am still very new to the bitcoin world and of course there are many questions I still need to ask this community about bitcoin to clear up any confusion.

Bitcoin is a new type of currency that is constantly evolving. Many new ideas about its use as a means of payment will be discovered and perhaps this revolution will continue to escalate. Here in my country bitcoin is not a legal tender, but I know that some of you may have used it as a means of payment for goods or services. As for new ideas, I think of a few but the fact doesn't directly allow me to legally adopt them as doing so would be against the law. How about you, do you have any good ideas for future bitcoin adoption?

it may not a legal tender in my country as well but at least our government has no stand or act as banning this meaning we can still use bitcoin as mode of payments in some places since there are limited company and sites that accepts this also.

Quote from: dark1234 on August 11, 2022, 05:17:23 PM

Quote from: ?? on ??

I believe one day transactions between countries will use crypto, especially Bitcoin. But this is not the time, because there are still many who are unfamiliar with using crypto as a transaction tool.

bitcoin until now is still not fully functional according to the initial idea, this is constrained by state regulations and the current state and government attitude but at some point it will happen even though not with bitcoin maybe with other altcoins. considering that some countries have legalized it to be a transaction tool we just need to be patient for that

because many government is still aggressive and insecure from the entering the market ,
of course they are protecting the interest of banking company because those are their bread and butter lol.

nullama

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I think we will slowly see more and more countries adopting it.

At the end of the day, it's a fantastic method of payment, and it's incredibly secure.

Plus, you don't need to trust third parties.

Some places in Europe already started years ago accepting it for paying for government services, like Zug, a canton in Switzerland: https://bitcoinist.com/zug-swiss-bitcoin-payment-permanent

It's just a matter of time until more and more countries use it more formally.

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Quote from: Tony116 on August 11, 2022, 09:42:13 PM

Quote from: 2stout on August 09, 2022, 11:01:16 PM

Bitcoin adoption is inevitable, like fighting against the win. To put it better, like to Borg said- "Resistance is futile". It's not that Bitcoin is imposing but rather it offers a better, clear alternative to the inflationary status quo.

As time goes on, Bitcoin will also become mass adopted, if it can't become legal tender, at least it will be accepted as a commodity, or asset, but with the order of acceptance will be a series of regulations.
The government will never fully accept bitcoin if they don't figure out how to control it, accepting it without any regulations is like shooting yourself in the foot, and the best way is to regulate the people who trade bitcoins.

I guess bitcoin is already accepted as a commodity or asset because many exchanges are allowed to include bitcoin and altcoins on their trading lists.
It is only a matter of time for bitcoin and altcoins to be accepted as legal tender even though some countries already accept bitcoin as legal tender.
Apart from being a means of payment, bitcoin also offers investment for people who want to increase the amount of money by buying bitcoins and altcoins and storing them and selling them at the highest price.
Governments may not be able to control the movement of bitcoins but they can monitor bitcoin users through their banks so they will know the transactions used by users.

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If I look back to the present and I see BTC adoption expanding, I'm not sure everyone's vision here will be the same, but theoretically, BTC value has achieved significant growth. amazing. And I have to admit the fact that its potential is still largely untapped and that the economic shift will help more people access it and find solutions to more specific applications. In terms of ideas, I don't have much to think about because I just visualize how I approached them many years ago, and I have a positive view of them at the moment. So on the positive or the negative side, it exists, so we debate a lot of aspects of it. Personally, I have always found acceptance and more people believe in it than other asset classes.

Tony116

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Quote from: 2stout on August 09, 2022, 11:01:16 PM

Bitcoin adoption is inevitable, like fighting against the win. To put it better, like to Borg said- "Resistance is futile". It's not that Bitcoin is imposing but rather it offers a better, clear alternative to the inflationary status quo.

As time goes on, Bitcoin will also become mass adopted, if it can't become legal tender, at least it will be accepted as a commodity, or asset, but with the order of acceptance will be a series of regulations.
The government will never fully accept bitcoin if they don't figure out how to control it, accepting it without any regulations is like shooting yourself in the foot, and the best way is to regulate the people who trade bitcoins.

Topic: What your ideas about bitcoin adoption in the future? - page 4. (Read 1398 times)