What your ideas about bitcoin adoption in the future? - page 5.

uneng

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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.

Can you tell what governments you are referring to? As far as I know only El Salvador has adopted bitcoin as legal tender, while many other countries have friendly approaches towards bitcoin, like Portugal, Germany, Slovenia, Malta, Luxembourg and more...

However, countries with a history of hostility against bitcoin haven't changed their stances yet. Countries worth to be mentioned are China, Russia, India, Nigeria and so on...

GreatArkansas

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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?

I think the most common good idea for the future bitcoin adoption is Bitcoin being a legal tender for every country, it seems to be the first step and it will very huge, because if ever it will become a legal tender, the regulations on cryptocurrency will start become less strict especially on some countries which is illegal to use Bitcoin or even you are creating on some centralized cryptocurrency platform like exchanges, it is really worst.

dark1234

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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

justdimin

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Quote from: taufik123 on August 10, 2022, 12:29:45 AM

but for governments who are not pro with bitcoin, this will be a threat. The adoption of bitcoin will change all the systems they regulate and control completely. With the adoption of bitcoin they (the government) cannot exercise full control, this is the reason some governments are reluctant to adopt and only provide standard regulation for bitcoin.

The adoption of bitcoin will indeed have a positive impact, namely increasing the interest of crypto investors, but behind it will be a lot of work.
Currently bitcoin is only used as a commodity tool and is still side by side with Fiat.

only the country of el-salvador is able to fully adopt bitcoin and even continue to develop it to the point of wanting to build a Bitcoin City.

Those nations will have to learn what it means to be a crypto pro nations because they will be forced to follow the lead. If there are a lot of money to be made from taxing crypto people, any government who doesn't make it legal and taxed, will end up causing themselves heaps of headache.

Everyone who "discussed" about bitcoin ended up accepting it as legal for one simple reason; they could ask for a ton of taxes from people who trade it. If you made any profit at all, you would pay a tax on that profit, government gets a share on your spoils. This is why I think that there won't be any nation left that bans crypto, eventually they will all come around.

Issa56

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Quote from: tbterryboy on August 11, 2022, 03:34:34 AM

Most of the companies that you are talking about that supports bitcoin are online because the countries that made btc a legal tender is still too low and most of us can't use our bitcoins yet for buying locally but it is possible to make payments for individual persons. Not all will use btc for some reasons, this is why fiats can stay.

Yes I know not all countries support bitcon as a legal tender, but their are some countries that bitcon is neither legal nor illegal like my country now, Bitcoin is not legal and its not illegal so I believe you are free to trade bitcon and you are free to do anything you like with bitcoin, if you decide to accept bitcoin in your company, you have not violated any rule, but their are still very few companies that accept bitcoin as payment method in my country, but I believe with time things will change and numbers of companies that will accept bitcoin will keep on increasing.

tbterryboy

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Quote from: Issa56 on August 10, 2022, 07:16:21 AM

Quote from: Cryptmuster on August 10, 2022, 07:01:45 AM

Acceptance of bitcoin will be easy when people understand exactly why they need it and how it can be applied in everyday life. Now, for most of the population, bitcoin is something unknown and too risky. Someone uses it as an investment tool, but does not use it to pay for services and goods. Adoption cannot be carried out artificially, everything must develop in its own way, as we see it is a long and difficult journey.

I believe with time people will understand what bitcon is all about, but it might take time but definitely people will understand that bitcon is more than but buying and holding. Currently some companies are already accepting bitcon as payment method and am sure some people will be making payment with bitcoin, but we don't just expect everybody to be using it all at once but with time the number of companies accepting bitcon and the amount of people spending it will definitely increase.

Yes, that is for sure. Remember when we first heard about btc we are too skeptical about it. There is doubts if we will engage on it or not but eventually we decided to try it and then like it. The same thing can go with others who are still new to it. Once they do their research, they will now be ready to welcome bitcoin on their life.

Most of the companies that you are talking about that supports bitcoin are online because the countries that made btc a legal tender is still too low and most of us can't use our bitcoins yet for buying locally but it is possible to make payments for individual persons. Not all will use btc for some reasons, this is why fiats can stay.

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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.

Are you referring Russia because they just consider Bitcoin as mode of payment for there oil but I think those proposals didn’t materialize at all because they are afraid of its volatility. The mass adoption we are all dreaming is very hard to come true because government and banks is totally against the idea of decentralization. The moment we are starting to build this mass adoption momentum will surely stop immediately by the government by imposing new law specialized to counter crypto. EU and US is starting to do it already and I believe most rich country will follow.

ChiBitCTy

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So you’re saying that bitcoin was made illegal by your government? That’s unfortunate but honestly this is all the more reason to like and invest in bitcoin. Your country might make it more difficult to transact, but you always have OTC (over the counter) trading available and that’s nothing they could ever stop in reality.

ethereumhunter

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Quote from: Fawwaz wildan on July 31, 2022, 03:51:53 PM

The problem is, have you ever thought of new ideas for future use cases, such as receiving a salary in bitcoin at your workplace or maybe as a means of payment for public transportation?

It is not easy to receive a salary in bitcoin in offices because the regulations in their country will bind that office or company. If their country allows the use of bitcoin or crypto as payment or receipt of salary, offices and companies will start offering it to their employees. It would be the same as accepting bitcoin as a means of payment for public transportation because it would go back to government regulation.

We can have good ideas for bitcoin but that will go back to government regulations governing payment instruments. So maybe now we can provide information to the public about the existence of crypto and how they can use it well. Hopefully, the government can help by issuing more broadly regulations on the use of bitcoin or crypto.

Rockstarguy

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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.

Natalim

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That was uncertain OP and it remains like that forever.
And I would like to say that adoption will take so long, it was too long to imagine and it was continuous. But the only thing that makes me certain about Bitcoin is that people had enjoyed and benefited from this. Besides, that is what we wanted to happen and I believe that we are never disappointed with the trust we give to Bitcoin.

Thara20

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With the growing trend in NFT, blockchain and crypto, the future of bitcoin does seem promising. Governments also seem to be warming up to implementing crypto in certain systems. Also, while most consumers do not now see the benefit of paying with cryptocurrencies, this situation may change as more businesses begin to accept them. Purchasing goods or services with bitcoin is probably still a long way from being a suitable financial decision. Still, increased institutional adoption could lead to more applications for regular consumers and have an effect on cryptocurrency pricing.

Kakmakr

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I think the awareness in first world countries has reached it's saturation level, but we still need to reach millions in the third world countries, where infrastructure for Internet access is needed.

A lot needs to be done to educate people about the myths linked to Crypto currencies and the FUD that are being spread by our competition. (organized actions to spread positive news and facts are needed) Sad

fiulpro

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I would like to clarify some things for you, Bitcoins as a whole is not really a new concept or a new currency since it was invented back in 2009, I do think that the concept is quote old, stable and established.
Other than that there are few things more that we have to consider, them being *Bitcoins is not a legal tender in many countries which does not mean that you cannot hold it or trade bitcoins against your local currency* Being a legal tender is very different from being " Illegal " as a whole therefore at the end of the day I do believe you might to give your current government the benefit of doubt and hope for the best for the future of cryptocurrencies in your country. Hold bitcoins, have an international bank account as well, what I do know is, no matter what, Bitcoins can eventually form a strong connection within the constraints of currently legality, you just have to be extremely careful while sales/purchase.

kryptqnick

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Bitcoin is new compared to fiat, but it's not that new anymore.
In many countries Bitcoin isn't a legal tender but it's also not explicitly illegal, and that which isn't forbidden is allowed. Or it IS illegal, but the law regulating punishment for its usage isn't enforced. In those cases, it's still pretty safe to own Bitcoin, explore trading, try paying with it for something, or simply hodling. If in op's country the situation is different, and it really is illegal and one can get in trouble for it, I don't think I'd use Bitcoin in such a country, to be honest.
Luckily, there aren't many such countries, so overall, I think adoption of Bitcoin both as an investment and a means of payment will increase.

Bushdark

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Bitcoin is not a new cryptocurrency and it is not a new thing to us and the general public. Bitcoin had been in existence for long and when we look and the rather of adoption, more people are joining the Bitcoin network everyday which makes it a unique project. I know many are still yet to learn about Bitcoin which is the reason why we need to pass the good news around.

Looking at the way the Bitcoin market and the entire crypto market is growing, in few years coming there will be more adopters of Bitcoin with more users joining it.

cheezcarls

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Doing the Bitcoin adoption slowly is much better than none at all. We don’t need to rush here. In most countries, Bitcoin isn’t legal nor illegal. It’s kinda “greyish” for us right now because of the uncertainties that we are facing in the crypto market due to the unpredictable price movement whether if it goes up or down without warning.

Education is still the most effective way of making individuals, companies, etc., to understand and embrace Bitcoin in open arms. If you engage them into Bitcoin without educating them first, that would be useless.

Issa56

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Quote from: Cryptmuster on August 10, 2022, 07:01:45 AM

Acceptance of bitcoin will be easy when people understand exactly why they need it and how it can be applied in everyday life. Now, for most of the population, bitcoin is something unknown and too risky. Someone uses it as an investment tool, but does not use it to pay for services and goods. Adoption cannot be carried out artificially, everything must develop in its own way, as we see it is a long and difficult journey.

I believe with time people will understand what bitcon is all about, but it might take time but definitely people will understand that bitcon is more than but buying and holding. Currently some companies are already accepting bitcon as payment method and am sure some people will be making payment with bitcoin, but we don't just expect everybody to be using it all at once but with time the number of companies accepting bitcon and the amount of people spending it will definitely increase.

Taskford

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Quote from: Cryptmuster on August 10, 2022, 07:01:45 AM

Quote from: Issa56 on August 10, 2022, 06:24:39 AM

Bitcon have been in existence for year's now, when bitcoin was created just few people know about bitcon and most of them don't even believe in bitcoin has at that moment, with time bitcoin started getting popularity and people started knowing about bitcon, most people don't really accept bitcoin as payment method because they don't believe in bitcon. But today lot's of people know about bitcoin and lot's of companies are now accepting bitcoin as payment method and some countries have adopted bitcon, bitcon have gained lot's of popularity and everybody are now talking about bitcon everywhere now.
I believe in future most of the countries that are banning bitcoin currently won't have choice than to later accept bitcoin and I believe most companies will accept bitcoin.

Acceptance of bitcoin will be easy when people understand exactly why they need it and how it can be applied in everyday life. Now, for most of the population, bitcoin is something unknown and too risky. Someone uses it as an investment tool, but does not use it to pay for services and goods. Adoption cannot be carried out artificially, everything must develop in its own way, as we see it is a long and difficult journey.

Not as easy as we think due to many anomalies happen like scamming and people losing due to its volatility, If people will just research and be educated to what they are taking then maybe they can slowly adopt the risk although this is though but for sure when they get experience from what they go through then provably that they can learn something huge on cryptocurrency industry.

Cryptmuster

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Quote from: Issa56 on August 10, 2022, 06:24:39 AM

Bitcon have been in existence for year's now, when bitcoin was created just few people know about bitcon and most of them don't even believe in bitcoin has at that moment, with time bitcoin started getting popularity and people started knowing about bitcon, most people don't really accept bitcoin as payment method because they don't believe in bitcon. But today lot's of people know about bitcoin and lot's of companies are now accepting bitcoin as payment method and some countries have adopted bitcon, bitcon have gained lot's of popularity and everybody are now talking about bitcon everywhere now.
I believe in future most of the countries that are banning bitcoin currently won't have choice than to later accept bitcoin and I believe most companies will accept bitcoin.

Acceptance of bitcoin will be easy when people understand exactly why they need it and how it can be applied in everyday life. Now, for most of the population, bitcoin is something unknown and too risky. Someone uses it as an investment tool, but does not use it to pay for services and goods. Adoption cannot be carried out artificially, everything must develop in its own way, as we see it is a long and difficult journey.

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