Why Bitcoin is not universally adopted and how to change it

LogitechMouse

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Quote from: -Multivitamina- on February 05, 2020, 04:45:03 PM

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Saying that the number of merchants accepting Bitcoin is decreasing is more surprising Cheesy

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The correct term is, it becomes slower because of the problems of Bitcoin like the tx speed and the fees of it but still the number of merchants accepting is still increasing. I can agree with what you said that merchants are accepting other cryptocurrencies because of the faster speed and lower fees.

Bitcoin will be universally adopted if the above problems of Bitcoin will be solved and right now, it is slowly being solved. Lightning Network has been used by some people already but some aren't accepting bc1- prefix addresses and this makes the adoption of LN slower. If more people will use LN, it can solve the one problem of Bitcoin which is the tx speed.

bitmover

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Quote from: -Multivitamina- on February 05, 2020, 04:45:03 PM

In this article Daniel Nagy, a software architect and Ethereum developer, explains why this is happening and how this trend can be reversed.

Altcoi chill

He will.be probably cry about block size, scalability, etc
Totally irrelevant discussion.

Bitcoin is getting more adopted everyday, not the opposite
While ethereum is dying everyday.

boris2470

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Quote from: -Multivitamina- on February 05, 2020, 04:45:03 PM

Let’s face it: crypto adoption has been going down for quite some time. There are fewer and fewer merchants accepting Bitcoin, let alone other cryptocurrencies. This is a bit surprising, given that many issues hampering adoption in the early days have been sorted out: user interfaces got a lot safer and friendlier, major cryptocurrencies are much less volatile than they once were, the assortment of tools for merchants as well as consumers has substantially increased, layer 2 solutions addressing bottlenecks are becoming practical, and yet…

A once-popular crypto-only travel agency, BTCtrip.com has closed shop, leaving unfulfilled orders and defaults on refunds in its wake. Restaurants that once accepted crypto payments no longer do. Fewer and fewer webshops offer crypto as payment options.

In this article Daniel Nagy, a software architect and Ethereum developer, explains why this is happening and how this trend can be reversed.

https://forklog.media/why-crypto-is-not-universally-adopted-and-how-to-change-it/

An attached article does not apply to what you wrote.

cryptoaddictchie

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I can see a negative feedback rising above this thread topic. I know some of them who refuses to adopt bitcoin and other cryptocurrency are those close minded people who dont learn and study it first. Most projects that are introduced are flagged as scam and I cant blame those who fall into those shitty ICOs that lurking around this business especially around 2018-2019. But lets face it. Adoption is growing and this post is made for fud. The article is very negative towards this and likely the author must be one of the victim or paid to do this crappy content.

End of conversation. This is a fud, good luck OP I see an accusation on Meta.

MarioV

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I think it is because people are not used to studying and checking, but they continue to believe in the sellers of "certainties" in suits. Certainties that, for those who verify, are not real and will never come true.
So few people bother to understand the scam monetary system and the bitcoin alternative.

batang_bitcoin

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Quote from: Zicadis on February 05, 2020, 05:57:19 PM

The article does not address this.

Oh thanks, I don't have to read the article but I'll base my response to what op has said. How it became that "fewer and fewer" merchants that accepts bitcoin? Instead of those words, we can use slowly adopting or increasing and that makes it more articulate.
And these merchants does have a better option now with third party services that they can use for the bitcoin payments as their service provider.

Zicadis

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Dump it!!!

Quote from: -Multivitamina- on February 05, 2020, 04:45:03 PM

Let’s face it: crypto adoption has been going down for quite some time. There are fewer and fewer merchants accepting Bitcoin, let alone other cryptocurrencies. This is a bit surprising, given that many issues hampering adoption in the early days have been sorted out: user interfaces got a lot safer and friendlier, major cryptocurrencies are much less volatile than they once were, the assortment of tools for merchants as well as consumers has substantially increased, layer 2 solutions addressing bottlenecks are becoming practical, and yet…

A once-popular crypto-only travel agency, BTCtrip.com has closed shop, leaving unfulfilled orders and defaults on refunds in its wake. Restaurants that once accepted crypto payments no longer do. Fewer and fewer webshops offer crypto as payment options.

In this article Daniel Nagy, a software architect and Ethereum developer, explains why this is happening and how this trend can be reversed.

https://forklog.media/why-crypto-is-not-universally-adopted-and-how-to-change-it/

Where did you see the statistics that there are fewer merchants accepting Bitcoin? Is this in absolute terms, or in terms of velocity of adoption?

e.g. is the rate of adoption slowing down, or is the total number of merchants falling?

The article does not address this.

-Multivitamina-

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Let’s face it: crypto adoption has been going down for quite some time. There are fewer and fewer merchants accepting Bitcoin, let alone other cryptocurrencies. This is a bit surprising, given that many issues hampering adoption in the early days have been sorted out: user interfaces got a lot safer and friendlier, major cryptocurrencies are much less volatile than they once were, the assortment of tools for merchants as well as consumers has substantially increased, layer 2 solutions addressing bottlenecks are becoming practical, and yet…

A once-popular crypto-only travel agency, BTCtrip.com has closed shop, leaving unfulfilled orders and defaults on refunds in its wake. Restaurants that once accepted crypto payments no longer do. Fewer and fewer webshops offer crypto as payment options.

In this article Daniel Nagy, a software architect and Ethereum developer, explains why this is happening and how this trend can be reversed.

https://forklog.media/why-crypto-is-not-universally-adopted-and-how-to-change-it/

Topic: Why Bitcoin is not universally adopted and how to change it (Read 193 times)