Bitcoin Forum

Bitcoin is gaining more global acceptance daily as compared to other cryptocurrencies. With Bitcoin, we can be sure of greater liquidity and it has made international transactions and businesses easier relative to other currency. The level of anonymity Bitcoin gives is unparalleled and the ability to transact businesses with Bitcoin at a relatively lower fee is unequalled. What do you think is needed to guarantee more wider acceptance?

The anonymity of bitcoin has its limits. In fact, with a strong desire, intelligence agencies can find user. One of the biggest owners of bitcoin is the government of the United States. They seized those bitcoins from the drug mafia. Did not help no anonymity. Every person leaves traces in the Internet and these traces can always be found.

Indeed, it is not easy to escape from leaving your prints in digital world. Digital world is your biggest enemy because no matter how cleverly you do things here, you’re always going to leave some evidences in the world. The worst thing about this is that you can never ever delete anything permanently from this world and agencies can trace user if there is some big issue created by the user.

First of all,bitcoin is pseudo anonymous and not fully anonymous.All the transactions are registered in a public ledger.So,they could be easily traced by the government's taxing department.In this case,altcoins like monero and zcash are fully anonymous.And you are saying that bitcoin makes possible transactions at a lower fee,but we should also notice that there is a huge discussion going within the bitcoin community about the increasing transaction fee.

first of all what other cryptocurrencies? you mean shitcoins! you shouldn't even be comparing bitcoin to shitcoins.

secondly you are talking about anonymity of bitcoin compared to others. that is true but you forget that majority of people who come to use bitcoin are not looking for the maximum possible anonymity. what bitcoin offers (which is not full anonymity) is more than enough for most of them. besides those anon coins have lots of issues. for example most of them are not even anonymous! they just do some stuff and claim to be. some others such as Monero have scaling issues.

which brings us to the last thing you mentioned about fees. we all know fees are currently high and that is unacceptable but you can not compare it with altcoin fees. altcoins are unused networks and because of that they can not have higher fees.
fee is also a supply and demand relationship. the supply is the block space which is limited and the demand is the number of transactions.
for example this supply for bitcoin is 1 MB (4 MB with SegWit) and the demand is bigger than that.
the same for bitcoin cash is 8 MB but the demand for it is 0.1-0.2 MB which means fees will be much lower. the same is true for the rest of the altcoins.

Lykke will help with that, but I don't think BTC is a good thing they way that works today. First is not decentralize anymore, is very centralized and few miners are in control, I don't trust them. Secondly is very vulnerable because is not running in every computer as Satoshi Nakamoto wanted, is running in few farms that can go down anytime and game will be over.
BTC is not anymore the anarchic coin, people find a way to make it "fiat"  or even worse actually..

You must be new to the scene. Monero offers full anonymity vs Bitcoin's partial anonymity. Many altcoins like Litecoin have faster transaction times and lower transaction fees.

The best way to gain instant wider acceptance is for Bitcoin to progress to a point where most altcoins will be obsolete. I don't think Bitcoin can get fully anonymity at this point, but it could definitely match, if not outright outspeed other altcoins' transaction times with similar or even lower fees. People are only really holding on to altcoins because they're superior to Bitcoin in some way, but if Bitcoin reaches their level in that certain aspect, people are certain to dump.

Bitcoin will adopt better anonymity processes. They are already planned. Greg Maxwell is working on Confidential Transactions https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-November/015283.html . For me, the key to success here is to make sure these are switched on by default. Because if there is a chain of 10 transactions where 9 are confidential but one is not, then the whole chain's anonymity is compromised.

Bitcoin focuses on security, which is why it takes a long time for new features to appear. I would rather have confidential transactions in 2020 than no coins in 2018 because of a hack via compromised code.

Some alt coins have better anonymity but they have their own problems. Eg I am a big fan of Monero, but it has serious scalability issues.

Easy because bitcoin will change the future of money.

What bitcoin may need to become globally accepted is time. Blockchain technology provide alot of advantage for our society and adopting it should be what our governments should do but I think our governments need  more times to study the blockchain technology in other to take an inform decision. Once any government adopt bitcoin we will see the progress that we would make in the Area of acceptability.

Not only money also the means through which we make payment for using our good and services. Also it acts as an investment instrument where the returns are the top compared to any other financial products. So various factors are involved due to which today it has a global presence and its gaining popularity daily

perhaps because the bitcoin can change in our future lives, it will be our life for the day and with bitcoin we can succeed with the unexpected.

Few good points you have raised. But the anonymity of bitcoin is not full proof. All transactions are recorded in a public ledger using blockchain and can be traced accordingly. So that's not a strong feature to vouch for. But yes, the cross border trades can be made easier by bitcoin due to it's low fees compared to what banks are taking nowadays. However, the transaction confirmation speed is what I believe hindering the acceptability of bitcoin worldwide by the big corporate companies.

Secondly the legality of bitcoin is another issue. While countries Like Japan and Netherlands have legalized bitcoin, other countries are either silent or banned it. If other countries can legalize bitcoin, banks will face a huge loss because they won't have to mediate between two parties of a trade agreement. They will loose on commissions. So you can expect a huge protest from the commercial banks if any government plans to legalize it. That's another bottleneck for bitcoin.

I know acceptance of bitcoin wider than before and its good for bitcoiner especially to increase value.
About transaction fee i dont think that bit has it. Recently fee is more and more increase.

You are right, anyone that understands how Bitcoin works on a basic level should knows it is pseudo-anonymous rather than anonymous.
Even though, no one can deny the fact that Bitcoin is gaining popularity as many companies are opting for bitcoin as a mode of transaction.
The 100,000 new users that joined Coinbase in one day proves that Bitcoin is gaining wider acceptance.

In addition many perceived advantages, we can get many benefits that can be obtained and more modern life due of bitcoin.
Bitcoin is well deserved popularization, and to ensure wider acceptance.. I think we should continue to use it on things that are directed toward more positively and less harmful to others / avoid criminality.
The government will assume that bitcoin can be viewed more positively than negatively, so that all governments of each countries will be able to legalize bitcoin.

I guess we have everything except if the transactions can be faster than we have it when congestions are crazy. We should really give a whole lot of damn about bitcoin as it has really helped in a whole lot of ways more than we can imagine except we are just so ungrateful.

I have seen so many people complaining about transaction fee, and then I imagine the fee I pay most times when trying to make use of western union and even the limit and queue I have to go through at the bank. Most people may not understand, but having freedom from all of that is just so perfect.

You are correct, but at the same time unless you are really important or are doing something really bad the chances you are targeted are very low, we know there is surveillance going on every single day and every minute of the day but as long as you do not make yourself a big target the probabilities you are going to be subject to that kind of scrutiny are relatively low.

Actually right now, bitcoin is just pseudo-anonymous and unless you have a way to cover your tracks maybe with the help of mixing services, it is not fully anonymous and anyone can be found if something illegal is done.

Most people know that bitcoin has really brought a lot of improvement in the ways we spend and have also helped us to gain back the freedom on limitations most governments of some countries have placed on us. A lot of people may just see bitcoin as an asset now, but there is just so much to it for it to gain wider acceptance.

For bitcoin to be widely accepted by the people is that, first it needs to be stable in its value, bitcoins unstable price surge if what keeps people from investing to it, they are scared that someday it might hit the ground because of its volatility.

That is also the reason why bitcoin is being used widely. Investors are attracted by it in fact. As time pass, price would surely be stable as many more people joins it. The thing that is needed most by bitcoin to be widely accepted is fast transaction confirmation time. It needs speed up transaction confirmation up to it's limit in order to sustain the usage of many people. It should be lightning fast to confirm massive transactions in short period of time because it will be necessary when it becomes main stream.

Bitcoin has already established and prove itself on the market by simply developing and having the right growth of its price. And as a part of users of bitcoin we are also a big part of this development and changes that happened to bitcoin because bitcoin is always dependent on the support of bitcoin users who uses bitcoin in transactions, investments and trading that result to moved of stock and demand of bitcoin which the result of the increased of bitcoin worth on us users and in the market for transactions.

How you can say Bitcoins is anonymous.It is pseudo anonymous its transaction is in public everyone can watch the transaction process. If governments want they can build any source which can track the transaction. About the fee actually you have pay fee we all know that the fee is higher but look there price which is increased bitcoin fees is different than other alt coin you can't compare bitcoin with alt coin .Altcoin don't applied high fees because most of crypto user involve with bitcoin instead of other coins so that's why alt coin have low fee

Do you register your documents when you are creating a bitcoin wallet? Not talking about coinbase, People can't know your name just by looking at your transactions history, You don't need to show your ID to anyone when you are sending or receiving bitcoins. You could stay anonymous all the time, If you do your trading by OTC/P2P.

Bitcoin has always been great warrior in the world of blockchain and it will keep itself on the top forever. It gives us full fledged garuntee that wide spread acceptance will be there for bitcoin but after sufficient development from now onwards. World is already pushing itself into bitcoin investment and I'm sure that developers knows about it or have felt about it. Its upto there hands now how to evolve this beauty Ito something greater and useful in day today life.

There could be another possibility that government might look at the bitcoin as potential way to use in the public sector and as well into the private sectors in the future. They might entertain the needs crypto people and will give it a shot. This way bitcoin will become more spreader across the globe and it will have great recognition. This way we can be sure and yes thats why we should give a damn about it!

Bitcoin is still good investment until now, this year bitcoin the price up so amazing.
Bitcoin can help all people to get profit and do some job, so people will damn bitcoin.

As of now Bitcoin faces an issue on  Slow Confirmation of Transaction , and also on anonymity. If you are asking what is needed to guarantee more wider acceptance? I think the first step is to resolve this pending concerns, second is advertisement on social media could also help to buzz Bitcoin to other people.

people don't receive bitcoin because they have no assurance that their money is in the safe program cause the bitcoin is not centralized right .......... if bitcoin get centralized some people will be so disappointed in it and not accept it too. bitcoin need some time.

We should give a damn about bitcoin because it is simply the feature . And it may one day replace the government issued fiat currencies that rule the world now . Bitcoin is representing a huge asset for it's users , holders and traders and might become a global currency one day especially that it's rated among the top 40 now . So getting interested in it is a must !

The best thing about Bitcoin is its portability and wide acceptance. Thousands of websites accept Bitcoin as a way of payment and it security is at best level which means that all the transactions made from one Bitcoin wallet to other Bitcoin wallets are secured and can not be penetrated easily. I won't talk about anonymity  of Bitcoin because it isn't the most anonymous Crypto however It is the most reliable for almost every individual and businesses. Bitcoin is more secure than other Cryptos and is accepted in most of the countries. Bitcoin promises strong protection from hackers and is very secure for transactions. Bitcoin transactions do not require the help of banks and the fee for Bitcoin transactions is less than banks. Bitcoin is just awesome without any doubt and that's why anyone and everyone should use it.

Well if you will focus only on that point. Then bitcoin will have a long way for achieving that mass adoption because the volatility of bitcoin's price is something that we bitcoin users are having trouble with for a long time. Also, the fact that this kind of volatility may give us more benefits than its price being stable as we want it to be, we don't care! Because through this, we could profit much larger when whales manipulate the price of bitcoin in the market.

why not i really love bitcoin im happy that i cam finally sell my bitcoin
i was waiting for 5 months that when the price will reach 10000 i will sell
it i have already sold 50% and will wait for the price to rise more

I think we didn’t need to give damn about bitcoin because bitcoin is here to keep us away from such problems like lake of knowledge and the most surprising is lake of money, we know not much people invest in bitcoin and the problem not due to BTC it’s a problem of people having low knowledge that’s why bitcoin always important to me.

For bitcoin to be broadly acknowledged by the general population is that, first it should be steady in its esteem, bitcoins unsteady value surge if what shields individuals from contributing to it, they are frightened that some time or another it may hit the ground on account of its unpredictability.

If bitcoin will be legalized and formally announce about using it will help everyone to manage our time and it can bring us more easier and very convenient transaction.

Bitcoin is the best choice for all and wants to make an investment, as bitcoin prices are still going to increase and can also help everyone in terms of daily living needs so that bitcoin will be their top choice.

Because it's safe, low transaction fees and no chargebacks

Bitcoin can change my life and you, from unearned to earning so many people believe in bitcoin and then investing so that they are very trusting with bitcoin that will change one's fate.

Because bitcoin has given us many benefits, bitcoin also gives not only hope for us to change our economic future. Bitcoin also gets a more global acceptance compared to other cryptoes so we become more confident with bitcoin everything we want can be achieved.

bitcoin has bren showing us how helpful it is to us. based on personal experience bitcoin really provided finances for me and I had been able to buy things I need and some wants due to the profit that I earned from here.

Bitcoin is obviously like a future or a new way that can provide a way to earn money till nowadays.
I just hope the all governments of each countries can be regulating bitcoin, learn more about bitcoin and blockchain more deepen, until the whole of countries really can legalize bitcoin as a legitimate currency.
So I guess till now, the causes of not yet more wider acceptance.. yeah the governments of each countries, it still worried about the country's economic system and the risks that will be affect to the country. Hopefully everything is gonna be better.

I am not really sure if you are the owner of Lykke or you have some stake with this company but the way you have been vouching for them has really been crazy ;D. First and foremost, you really need to hear yourself first and the centralization issue.

Bitcoin is still as decentralized as it has always been and there is no way power has been given to miners, segwit2x maybe would have but for now, No. So, get your facts straight. Secondly, you cannot expect everything to always be the same and the same satoshi designed it to be that way.

You can go back to the books to find out, so if you missed mining with your PC when the number of miners were not much then, you sure do not have anyone to blame.

Because bitcoin is a very usefull way to spend your free time because you can practice your ability to construct english and earn at the same time.

Yeah it is BTC for me is the best way to spend free time just hanging out chillin with your beer while bitcoining. I dont know why many people doesnt want to try joining this community many lives have changed due to this damn BTC.

Bitcoin is far more better than any financial systems ever exist and this system is far more safer than fiat system. For some of us that thing bitcoin is risky should have a rethink as bitcoin has gained more profit and easy business all over the world. However, I see the fees as what will affect bitcoin price in future. Many online shop and gaming that are using bitcoin as a mode of payment are discontinued that because of the fees.

In order for bitcoin to be widely accepted by people is that it need more news about how it can made online transaction much better, and how bitcoin can change someone life just by having sufficient amount of it.

We should give a damn about bitcoin because its the only shortcut to get rich quickly within the short period of time. Risky, yes it is but talking about risk applies to every investments whether its digital or physical. Banks are robbing people and bitcoin is a good maybe not the best but it saves a lot of people lives from falling in line.

bitcoin has a pretty fantastic price so why do we ignore it when we know that by finding bitcoin we have an extra income even if we know the ins and outs about how to get the critpo why should ignore them

Where even more and so everything is clear and many have already plunged into this element. Someone came out earlier, somebody later but eventually everyone will understand that while the bitcoins are in volatility to recognize it as a currency and it does not make sense to calculate them.

I don't think that we should say something/anything wrong about bitcoin Because the increase in the fee is a usual thing .
Here sometimes we can't see that from many people we accepted bitcoin and to how many we are sending that amount of bitcoin , input and output of bitcoin transaction , decides that what fees will needed , sonit you are not aware about this thing then see carefully another thing that the condition will remain same in the future ? My answer is ofcourse not because the team of the blockchain of bitcoin is looking to make improvement by changing 1 MB block by 2MB block with segwit2x in the incoming years , so not much fees we will needed to pay at that time , fee will be reduced to half  , So with these factors we can't say about bitcoin damn or anything that is not better for the future use in any industry .

Bitcoin has helped us and made it better so I think it's natural that we should care about bitcoin because bitcoin cares about us, our bitcoin's stupidity is to follow the work we are going to do and make money and we have to work well so bitcoin cares to we. so in my opinion should be mutual care and profitable.

We surely give a damn about bitcoin because its changing so many lives in a short span of time. Bitcoin is giving hope to people who aim to have a work online with less stress. Because bitcoin can give you a chance to get rich in no time as long as you work on it. In botcoin you can start working without spending a single penny and be able to earn by doing like this. Because it is giving you the privedge in terms in paying or buying stuff.

Because bitcoin is one of my livelihoods, so if we do not care about bitcoin then I will not benefit ... bitcoin is a digital currency that will replace other currencies in the future, so I care about bitcoin.

Because bitcoin is a place to play a mine or money, for me, bitcoin pastas for us to maintain as the initial capital of online business, we work through the internet different again if we work in real world outside Crypto, I think will be different, bitcoin also do not look at who and what the person who participated in it, if in the real world today, if we do not have anything we will not be able to earn income, because of that I say that bitcoin hatus defended, for the future to come

The media will do anything that brings them money, if bitcoin becomes too big and people want to hear from it they are going to  begin to transmit news about it and now that the money of big investors is coming to bitcoin then I have no doubt that we are going to hear a lot of bitcoin from the media, not everything is going to be positive but that is better than nothing.

Agreed, and with the level of support bitcoin has presently, if the scaling issue can be solved, I am pretty sure it is going to much more accepted than anyone can imagine.

Let's face one fact, government would have attacked bitcoin fully the more if it was fully anonymous, but it is a free and a huge world, which does not mean Monero being fully anonymous won't still always have their chance in the crypto world, but there is just so much for bitcoin than any other coin can beat right now.

I think Bitcoin is more widely accepted, with the permission of the government and local leaders. Because they are the source of all things. If they accept Bitcoin as legitimate, it will be advertised and broadcasted everywhere, so many people will know it. In addition, it will be run into education, schools, children will be trained at a young age and it is the owner of the future. So, you need to make Bitcoin legal for the government

I agree I do not know why people still have the idea that bitcoin is anonymous when just the concept of the blockchain means that everything you do is forever visible in the blockchain, anyone can see what transactions an address made and if you are somehow linked to that address then you are going to be forever linked to any transaction coming out and in.

we need bitcoin because I'm sure bitcoin will change everyone's future.

We still need bitcoin right now. Bitcoin is giving stability and credibility to other cryptocurrencies. Without bitcoin I think everything will fail and surely many investors won't like that.