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Coinbase CEO Says Bitcoin and Cryptocurrency Must Evolve to Reach Mass Adoption & other BTC news

Check it out: https://www.youtube.com/watch?v=bgm7-E3hrHg&feature=youtu.be (https://www.youtube.com/watch?v=bgm7-E3hrHg&feature=youtu.be)

Coinbase CEO Brian Armstrong thinks Bitcoin and crypto must evolve and become easier to use before widespread adoption can take place.

In a new interview with Peter McCormack, the host of the What Bitcoin Did podcast, Armstrong, who co-founded the leading US crypto exchange, says BTC needs to follow the internet’s lead in terms of usability.

“We have not taken any unnecessary risks with [Bitcoin], and we have ensured that it is going to probably survive the test of time as the gold standard, and we may find other solutions with scalability with layer two. I guess the other way to look at it is, ‘What would have happened if we had found a way to safely scale it?’ Maybe we would not have had a need for some of these other chains that have come up and divided focus.

The Cryptocurrency Portal
https://www.thecryptocurrencyportal.com (https://www.thecryptocurrencyportal.com)

He's not wrong, but this is kind of old news. It's been a problem since the Gavin days discussing block size back in 2014 or thereabouts. The question is more how this is going to happen since the market has been very sluggish to adapt or produce anything, especially after the whole ICO debacle which was a bunch of opportunists stealing money rather than properly developing products.

Ultimately, the free market will come up with answers, but it make take a moment. But the more pressure there is, the sooner it will happen.

Yes he is not wrong. But it's starnge how he came across this conclusion right after years of being one of the biggest players in the crypto market. The CEO of one of the biggest campaign in this field seems to be somehow playing the idiot role here, for an unknown purpose surely.
From what i can guess, he is just trying to declare that he supports the decentralised terms of the technology after failing to make it centralised.
If he is realy serious, i would like to invite him to work on changing the orientation of his company from being a centralised crypto bank to a fully decentralised service. Bitcoin and cryptocurrency will surely evolve to reach mass adoption even more than he could imagine .

He's softening us up for Coinbase to become the second layer of choice. If you can't force a change on the base layer you can try and make your company, or a consortium of them, the layer above. And there's a good chance enough people will follow that lead.

I personally don't even think that scaling is our main issue.

1. People don't like holding BTC because of the volatility. This is something that could potentially be fixed with time and a long-term increase of market liquidity.

2. People that have been burned in 2017 probably refuse to get back in. The only thing that would probably change their mind is a new ATH.

3. As of now, most people simply don't get the importance of a decentralized, permission-less, and scarce asset.


As for scaling, while lightning is probably not that ready yet, it's still improving, though people refuse to try it out because of the slight complications.

I don't believe lightning networks will get anywhere without so much handholding you may as well go full centralised, which the most widely used implementations probably will be.

Let's see what transpires but so far it feels like an interesting curio rather than the thing that'll put usage over in an emphatic manner.

The thing that does that needs to be simpler than bitcoin, not even less comprehensible to Mr or Mrs average.

Ah he is a ceo and has his own agenda.

But a three coin system works better as cash.

Doge 1 to 100 usd purchases
Ltc smaller 100 to 1000 usd purchases
Btc large amounts more like a treasury bond or a few oz of gold


all the asics are in place for the coins above.

and scaling issue go by by.

let system send btc in small amounts but pay high
that encourages them to use ltc or doge.

but they wont do the easy way That i am suggesting as it is too transparent.

instead segwit and lightning will obscure tx ids and never really scale.

worse they may manage to do some pos/pow hybrid drifting us further from the idea of turning power into coins.

There is already evolution happening to Bitcoin. Bitcoin has never been static. Changes have happened to Bitcoin. Bitcoin 10 years ago is not totally the same Bitcoin that we have right now although preserving, of course, the fundamental features and philosophy. It will take time, so Armstrong will have to be patient for further developments. In the meantime, he should stop building analytics software to be sold to government agencies. He looks like Judas promoting crypto while helping the government monitor and track down people's crypto transactions.

The statements above is true, in order for general groups and local to adapt cryptocurrency they must first understand its syntax and function just like a physical fiat. As if banks and local central central banks would do that right? they deemed crypto as illegal since they can't make profit out of it. That's why crypto doesn't give that resemblance of teaching it to students. In order for widespread adaptation to succeed, they must create an educational program for it to be achieved.

Mass adoption? No. How about more people come and buy bitcoin.

I do think the man meant that we should start using Bitcoins and other cryptocurrencies for :-
Buying/selling
Normalizing it just like Fiat and having the option of paying in cryptocurrencies available.
But for that I do think we have to solve many problems first:
-We have to upgrade the lightning network
-We have to do something about the fee
-We need to form a body to tackle the issues which are always being presented by the Government and such , so that we can have a legalized body for fighting those accusations
-Maybe next time you go out for coffee and food , try asking them if you can pay in Bitcoins , they might now have that available yet but for the future the employee can tell the manager and to improve the business the manager can make sure we have some payment strategy like that.

-*-*-*-*-*-*-*-*-*-

But for most I do think I am really happy with the investment part of Bitcoins. , Trading and Holding are wonderful options and gives you opportunity to safely hold your assets , plus you don't loose as long as you don't encash .

That will not work, in my opinion the mass adoption can't happen because there is a problem with bitcoin generation, no matter how many farms or machines work to solve the blocks, the time to generate one block is still the same which is inefficient in the long run. The problem arises from that ineffieciency, let's say that there is a mass adoption and everyone in the world buys bitcoin, do you think the current supply is enough to accomodate this demand? I do not think so. The way to revolutionize bitcoin and its generation speed is by developing more quantum computer and a commercial one in that case because right now we are slowly reaching the plateau for computing speed which means that no matter how much we keep on upgrading our current computer, the plateau will never be broken.

Yes, It has evolved! We all know that the global economy is inevitably moving towards a digital ecosystem and specifically the real-world use-cases of cryptocurrencies over various platforms fueling the mass adoption of Bitcoin and other cryptocurrencies. 8)

1. Volatility is a direct result of people being uncertain about the future price if bitcoin, they still can't decide whether or not they want to hoard and hold bitcoin. The more people are becoming certain about the future demand for bitcoin, the less volatility there will be. Essentially, these processes are inextricably connected, volatility affects people decisions, people decisions affect volatility.

2. I partly agree here. Speculators that were trading and buying bitcoin in 2017 are still somewhere here, they will definitely come back when bitcoin is again highly valued in terms of dollar.

3. From my point of view, most people living in contries with relatively stable economic situation, where private property rights and human rights such as right of free speech, freedom of expession are protected and respected will never fully get the importance of bitcoin.

1. In a theoretical perspective, it's a combination of a few things, including what you said. But ultimately in a technical perspective, it's mostly a lack of market liquidity.

3. Yep. Hence why bitcoin's importance is obvious to some people on countries like Venezuela and Zimbabwe; and hence why most Americans haven't realized it yet because the USD hasn't imploded at least as of yet.

Or if US or EU turns worst, going into negative interest.

And then those people who have a lot of money, millionaires or even billionaires, hedging their wealth to bitcoin specially against QE.

Or simply institutional investors who really see bitcoin as a way to make more money from them.

I think this could be some reasons why bitcoin could reach mass adoption and become a $1 trillion market value in the future.

I think bitcoin will always remain volatile, it will never be fix, maybe the volatility rate will reduce but it will not be stable if that's what we are expecting to happen. As long as the interest of holding or treating bitcoin as an investment is bigger over its use case as a currency, then I would stick with my opinion.

In the early days, there was also a big event where people got discourage, so I think this 2017 bull run and the big dump after has just become  normal because we know in the first place that crypto is unpredictable and more of an speculative asset.

I am not sure why but I don't see any problem in adopting bitcoin for normal ways of transactions. As long as someone is not involved with technical means bitcoin is just doing fine for others.

Like, if I am considering myself as common user / daily user of bitcoin then I am able to send the money with least fees in about 30 min to 1 hours in some cases. And that is all fine, since I can immediately give proof of my TrX by sharing the TrX Hash with the next party.

Since it's irreversible transaction, third party knows they are gonna get money. They can offer me their services immediately based on that.

This is just another positive perspective by overpassing all the discussion above.  :)

A strategy with negative interest rates will perfectly work only in society that is completely cashless. In such cases, bitcoin may be well adopted by all people as a tool that prevents being forcibly compulsed to spend savings. Given that negative rates cannot be applied on physical cash and Bitcoin, in essense, is a perfect substitute for physical cash, it will be widely adopted by those individuals with low time preference who prefer saving over consuming. The problem here is that most people still have high time preference, it is better for them not to hoard money and spend it right now instead.

He is! We should never trust a person who made commitments with the New York Agreement/S2X, that were anti-Bitcoin, at a time when it was very important to stand united with the community.

Evolution means, for guys such as Brian, destroying it. The mass adoption some people imagine will never be a thing imo as soon as BTC will keep on being the decentralized crypto it currently is. Considering the way his exchange has "evolved" over time, his words are worth nothing right now for me, so is his supposed solution to the mass adoption. I'm currently fine without a company that is selling its own customers to the government and helping dissolve privacy day by day.

The question here is how bitcoin can evolve? Mass adoption is really good, it would make the community bigger which can result in bitcoin inflation, bitcoin will become more prominent all over the world when this thing happens. Bitcoin is already good for some online transactions because we can use it for payment purposes which makes our lives easier. Mass adoption is good but they should learn things about crypto first.

We must realize that there's no definite use case of the world cryptocurrency and any blockchain based coin could be considered crypto if they prefer to call themselves. And we cannot force anyone to create anything. The market itself would decide what they want to see and what not. But some external factors like ease of trading and legality too would effect the adoptivness of coins.

Its the consciouness of all crypto enthusiasts at this particular point in time. The efficiency on bitcoin exists only in the blockcjain space and getting people to utilise bitoin will be first educating them on the blockchain space and then bitcoin. so the massive adoption of bitcoin and crypto is neccessary towards dominace of it through the financial industry.

Less hopes that people will likely utilize their brain learning how Blockchain space will do a favor with them/us. Those who are willing to learn will actually do it himself without any push from the others, the same thing that it happens to massive crypto adoption.

yeah, I'm not looking that way (EVOLVE) just is a need for the people to adopt crypto because it was their intent to do so in the first place. Besides, we can't drag them to hell as Coinbase CEO says because of its high-risk and its volatility feature. But I'd never disclosed a thing to think that mass adoption will come soon even without such evolution takes place.

There's nothing that can do to whatever  the developers or creators wants to do or called with the projects that they've created, it's them to pursue the purposes of their projects.


The market or the people around would define if how they understand and how they will support any project around this market.

It's true.

Not only is Bitcoin too difficult for the average layman to use, but it's also too complicated to understand.

Do you really think the older generation are going to sit down and take the time to understand about transaction confirmations, decentralized consensus, inputs and outputs etc? This is the same generation that barely knows how to use the internet.

I think we're going to need, at the very minimum:

1. An actual fool-proof wallet that take all the difficulties out of the equation—something like BRD wallet is good for this.
2. A scalability solution that brings the transaction confirmation time to practically instant—similar to DASH's instant spend or something like the lightning network.
3. A human readable address system, similar to ENS.

Until we get these, Bitcoin is only going to grow among the computer literate.

My major issue has always been scaling of bitcoin, as more and more users are carrying out large transactions at same time. I understand we have off-chain transaction too. I wish the lightening network is fully functional and availalabe to all, this will send many altcoin that pride themselves on large TPS as their only underlining technology.

Bitcoin's USP is not (and never was) "easy to use"


All the people who started using Bitcoin from 2009-2014 were in it because it gave them better money, the banking industry was already making their type of money easier and easier to use, there wasn't much point in trying to outcompete them on UX (it can only be so easy anyway, what's next? money for people who can't count?).

To make that happen, Bitcoin necessitated an innovative & sophisticated design. So at the beginning, it was never going to be easy to use.


Despite this, programmers are making easy to use wallet software (Lightning wallets like Zap or Blue Wallet focus on ease of use, and really that's all that's needed to make increased adoption possible)

But even the basics require some learning. If you don't want to (or cannot) learn about how even the simplest Bitcoin wallets work, it's not for you (or at least not yet).

the problem is not on the bitcoin side, the problem is on the side of governments that even today still do not know which way they will go (if create favorable laws are created for bitcoin and its entire ecosystem).

I will give an example:

Someone has a girlfriend and tells the girlfriend about bitcoin, but that person cannot withdraw bitcoin using your country's bank and also has no way to ask for the Bitcoin debit card, what the girlfriend will think:

the girlfriend will think that bitcoin is illegal and since she can't use bitcoin in the real world she will hardly want to know about bitcoin

That's true, but I want to add that cryptocurrency is easy in use for educated ones. I think mass adoption is impossible when most people have no idea about Bitcoin and how it works.   

Personally I am less concerned about scaling (you can use off chain for micro purchases), ease of use (it could easily be as easy as using Apple/Google Pay via your phone if their was market demand), or comprehension (I don't really understand how Google Pay works, but I use it anyway...maybe not a fair analogy since Paypal, google pay, and apply pay aren't as much of a leap than a bitcoin wallet use). 

I think the biggest barrier to mass adoption in USA is that the IRS considers bitcoins as assets, rather than currency. Therefore US taxpayers must report ALL bitcoin transactions for tax purposes which would be beyond annoying for micro (or even larger) purchases so I don't bother using it.  >:( :'(   https://www.investopedia.com/articles/investing/040515/are-there-taxes-bitcoins.asp

Plus I like my credit card miles so really I suspect the primary target audience would be debit card/cash users right?

Is the girlfriend "using" Bitcoin, or trading Bitcoin? Because Bitcoin is censorship-resistant if someone's girlfriend is actually using it.

Does Coinbase use Segwit, and batching to help the network? Help develop Lightning? Liquid?

In my opinion Bitcoin was not created for mass adoption. Its 10 minute block generation time, and 21 million cap will stop that. It is far better if it takes its place alongside gold and silver, and the mass  adoption is left to alternative coins, or even government tokens.

I believe Satoshi, did believe it, but decentralized, censorship-resistant, blockchain on-chain transactions cannot accomodate billions of transactions per day without centralization. Centralizing the network would only turn Bitcoin into an expensive database.

Off-chain transactions layer on top of Bitcoin?

Well I believe that Satoshi was a small tram working for the central banks, and Bitcoin was an experimental project to explore the possible successors to the failing fiat system. Keeping Bitcoin as a store of wealth is a great option, and they probably own more than half of the coins anyway. The next stage will be to own a few of the mining farms. All that is good news for us if you think about it.

The Coinbase CEO isn't relevant anymore.I don't understand what he is trying to say.
Does he mean that the off-chain solutions like Lightning Network are a mistake and a bad thing for the Bitcoin community?
What does he mean by "scaling"?Is he saying that Bitcoin Core has to increase the block size?
This guy is just talking lots of BS and he fails to suggest anything specific that would help for the "evolution"
and mass adoption of Bitcoin.

How so? If evolving means trying to centralize mining power and wealth distribution, I personally don't think it's good news at all. I am here for the exact opposite of what this so-called "evolution" would be: I'm here to support financial freedom and decentralization.

One might argue that even with a centralized mining power, besides rolling back blocks and censoring some addresses, they can't do much. The thing is, if they'd be controlling all (or the largest part of) the newly mined supply, it would be not much different from what most ICOs and XRP is currently doing. If Satoshi is/was a central bank experimenting on us, then it means we're probably going to see the fundamental ideas of BTC get destroyed, all in a matter of time.

Certainly evolution is a part of adaption when we are talking about a new technology and currency like Bitcoin. However, Bitcoin is progressing everyday and making it easier to use for people how are interested with it, in the other hand altcoins and other crypto projects are starting to do the same. By rising the price of gold and rise of inflation rate in all over the world, many investors are joining bitcoin project and of curse by doing so bitcoin will need too progress the evolution to answer all these new demands and needs, incoming to it.

why not take Satoshi's opinion? he referred to both "goldbugs" and "libertarians", two groups which taken together are quite popular, but certainly not a majority of people



what possible reason do you have to say that



what possible reason do you have to say that

Until common man and even semi-illiterate understand and can use crypto, there will be nothing like massive adoption. We are in the world today that literate individuals even find it difficult to understand and use bitcoin seamlessly not to talk of market traders and individuals that hold and transact bulk of fiat daily. blockchain technology must reach a point where it is defined to be very simple to make payment and do other transaction before there can be massive adoption.

Here we discuss innovation, mass adoption must be followed by how useful it is in life, at least bitcoin must have a new thing which can solve the problems that are happening right now. Over time, bitcoin will become a mass adoption either as a gold standard or an easier transaction tool. It further convinced me that the need for ideas to reorganize our views on blockchain, bitcoin, and cryptocurrency. Cryptocurrency must compete on innovation first.

Thats on the good side but there are really people who do really love to tackle down in regards with its negatives which is highly being emphasized.They can talk all they want yet we do have all the rights
and own free will on what is our perspective towards it.We, supporters wont really matter in talks of adoption slowdown or whatsoever commentaries about its flaws because sooner or later
we would really able to see in our very own eyes on how this tech will be adopted and would be recognized in future years to come.Yeah, nothing is certain but its still going strong
for 10 years of existence. No matter whose CEO's or other popular persons do comment about, those are just presumptions/predictions.

For sure Bitcoin is going to survive the test of time, it has done that in the past several times it was said that it’s going to fail, but it is still here today and won’t be stopping. I don’t see anything difficult in making use of Bitcoin, when what we are talking about is mainly transaction; what is hard in using a cryptocurrency wallet, when all you have to do is to just copy the address of the person that is receiving and paste and then you send it?

When I started using bitcoin I didn’t see any difficulties, and I was able to get the hang of it easily. For Bitcoin reach mass adoption it’s going to take time, and if it’s able to stay that long, I believe the world will be developing interest in it.

Lucky you. Learning how BTC works isn't the easiest thing for most people. I now have 7 years since I started my journey and I still have a lot of things I do not know (or know the wrong way). Reaching mass adoption means teaching everyone how to use it - give $5 in BTC to a 10, 20, 30, 40 and 50 years old person and you'd see that, the higher the age is, the harder it is for them to understand the system. I personally think this is the best way Bitcoin could ever evolve: becoming easier to use and understand. Until then, it's going to be "the crypto/privacy/tech geek's currency".

Right now there are a lot of people want to make an investment with the use of the bitcoin but the problem is they don't have enough knowledge and sometimes they don't want to take an investment to study, just to make an investment and put their money and wait for the right time to earn their profit.

Sometimes they are lacking of patience they don't want to wait for a long time and they already pulled out their funds because they scared to lose more but at the end of the day they didn't know they are wasting their time and money because of that mindset.


Well learning of cryptocurrency and all of those concept to make more understanding how it works you need to identify the root so you know how to works and manage properly that's the reason some of the people don't want to make an investment and risk their funds with the use of it. We have different learners by reading and by experience either you are there.


Because of this pandemic outbreak some of the people right now are thinking about things happen with the use of the bitcoin and how does it work so they can make an investment to which is a good thing but still they need to make an investment to learn regarding with this. The reason why most of us are using the bitcoin is the security and integrity it has and this is the blockchain that is transparent that we can see what are the things and confirmation process doing to our transactions.

Anyone who started bitcoin at an early stage had a lot of fun as there were no transaction delays and we would usually input huge transaction fees as the price was not that huge and those were the dream moment but once there are more transaction the network was not able to handle and the experience was horrible. Mass adoption is not the major issue, if we have a good scaling solution then we will see adoption.

Good of the technology advancing with time, but the real growth relies on the usage from common people. As of now the traders and individuals with good knowledge were a part of cryptocurrency and bitcoin. The real adoption or the success of bitcoin can be experienced when common public give priority to Bitcoin and cryptocurrencies in relation to gold standard. With more and more user friendly access and development we're getting close to the point. Within few years of time to some extent this can be made true.

Actually, multiply merchants who accept payments with Bitcoin, there will be mass adoption. Bitcoin and altcoins must be able to function
as a means of payment, not only for investment. This is not going well until now, like in my country the government prohibit using Bitcoin
as payment, and therefore there has not been a mass adoption in my country.

That's the best thing to happen and afterwards it will become more valuable, as more people to use it the more it will
continue the value to rise high.


There are still government who don't understand this system, they are still in the negative side the reason
why they are not adopting this industries.

Bitcoin does not have any "big" problem. It does not need to evolve. It should remain as is. It can scale off-chain. It's working well as a Store of Value.

The missing piece in crypto is inflation. I've been an advocate for this. Surprisingly, not many people listen. :) But I think we will eventually come to this conclusion. It took me a while. Without inflation, we can't have a crypto that people can use for transactions. Bitcoin's problem with transactions is volatility. It's an inherent property of halving. No amount of liquidity can fix volatility. Inflation can reduce volatility. A cryptocurrency with inflation does not compete with Bitcoin. It can also be mixed with Bitcoin to create hybrid crypto. I started a project called Bitflate.

https://bitflate.org/

It adheres Bitcoin's principles, except it has 7% inflation. We can use sidechains to mix the coins and get any inflation rate between 0-7%. These coins will have less volatility than Bitcoin. This is the path to mass adoption for crypto.

To turn off their money-printers, and give up control of the money-supply to a decentralized protocol that's controlled, and secured by a community of developers, miners, and users? I believe not.

Both of these are dependent on adoption and viability of a fee market. Fee market will be kept alive only if there are sufficient On-chain transaction to justify putting commensurate mining power behind BTC.

This is a controversial issue but such a result would be desirable. Earlier attempts at putting collective weight behind bitcoin have always devolved into scams and shams with people refusing to come to any sort of consensus. While the "hacker culture" is very conducive to the lone-wolves doing wonderful things by collaborating anonymously, they all turn into uncompromising kids when it has to be an actual debate. The better alternative has been interested stakeholders forming their own groups and fighting for a cause.

One of the best examples can be that of exchanges and a few lawyers coming together in India to persuade the highest court to lift the ban imposed by central bank. Similar decentralized pressure groups in respective countries must be recognized and encouraged. The question is, By whom? This opens a whole other pandora's box.

who will do that? not the government but its us  because we owned the business . as long as the business has a permit if its placed on public and as long as btc/crypto is legal

yes they are . only depends on the user if what he likes to do with his coins but there is that people that use thier coins for paying

only for payment ? but for investing they dont prohibit it ? investment is where btc became popular and many investors compare to payers/spenders so it should still lead to mass adoption

Evolution is indeed better as it will surely fill the gap or the problem of bitcoin and crypto currencies but the big question in this one is who will be the one to this task?

It has been debated for a long time already like the problem of bitcoin transaction fees, it's confirmation time and etc.
If Bitcoin can evolve easily then I can say that most of the shit coins out there won't be needed anymore but if the Coinbase CEO has a solution for it then they should start it now as the future of crypto will be ensured if they can do it.

For mass adoption forget Segwit and Lightening, just increase the block size limit by 100 times.
Compensate the miners with a mining reward of new bitcoin transaction token when a block is found.
Miners will be happy and Bitcoin gets low transaction fees with ledger traceability.
Only downside is running a full node at home is more difficult.

On this idea, bitcoin will gain more attentions as there are many new investors who also seen potential from this investment currency.

A part form mass adoption in terms of usage, investors and traders are also a big help having new institutional investors who will treat this venue of investments the same way stocks are being supported.

With this acceptance, more investment will flow inside crypto trading business
that will revolutionized the market value of this valuable assets.

trying to be bigger and the same as Bitcoin isn't wrong, maybe it's one of their business strategies, by saying Bitcoin should be more developed and adopted en masse,
that's their wish but can it happen?
maybe you can but not for now because it's still too early

You think if we made bitcoin less decentralized, it would make it more widely spread among individuals. I wouldn't say so. Because centralized systems we have today are more efficient, fast and convinient. Why switch even? Less decentralized systems like 100mb bitcoin block are slow, vulnerable, user-unfriendly and can be shut down by the authorities any time since there are only few full nodes in such system. It wouldn't be evolution of cryptocurrencies, but degradation. The only way for decentralized systems to become a substitute for centralized ones is reach the level of centralized systems in terms of efficiency, user experience, user interface, capacity, etc. But at the same time they should remain decentralized.

I agree scaling is not a big issue.

But I don't think volatility will go away. Bitcoin is highly liquid now. You can find hundreds of exchanges with Bitcoin. Bitcoin is a Store of Value. As this use case grows, Bitcoin will have even fewer transactions. Bitcoin's shrinking reward schedule drives the SoV use case. Short-term price movements are mostly affected by traders. When they pump and dump, Bitcoin's price swings. Volatility is an inherent property because of Bitcoin's supply design.

Hello to all. You don't need to be an advanced user of cryptocurrency to understand that only movement forward, only development, will strengthen the position of Bitcoin. Here one can only agree with the opinion of the CEO of Coinbase. In my country they say, - "... standing water, - it grows moldy ..." So here too, - Bitcoin still needs to do a lot to conquer even the most doubting person in the world.

To be fair, the fact that something needs to change to achieve mass adoption of cryptocurrency isn't exactly unexpected news. We all have seen the struggle BTC and other markets are having especially when major institutions pull off minor setbacks.

These setbacks don't affect investors who already understand how crypto world works but it is off putting to those wanting to join the network. This is the grey area great improvement is needed.

In essence, we need to make cryptocurrency easier to understand, buy/sell and use in every day life. Those are the obstacles that stand in the way of mass adoption.

Yes he is right, btc and alts must evolved to promote mass adoption and this can be achieved through inclusion and adoption,  there is need for grass root inclusion in crypto to foster widespread adoption, till now only few people are aware of crypto and even worse is people at grassroot don't know nothing about it, this is important aspect.

Coinbase CEO says the right thing. I think Covid pandemic has some positive impact on crypto. Now people get chance to read more about crypto, enthusiasts are getting more chance to monitor the market, investors and traders are getting more chance to trade and analysis the market. As a result , we are promoting crypto within our community and outside crypto community as well. People already know , it will be unwise to depend on single job or business. we need something other than our regular source of income, some passive or secondary source of income. And crypto will be a generous investment . And soon we will see more people will enter into Crypto.
 IMHO

It IS a big issue.


But volatility would be less with more liquidity.


Bitcoin's reward has halved for the third time, but there's more transactions.


Partly true, but Bitcoin is on its path to price discovery, somewhere with more digits than five.

This opinion must be admitted if it can be a solution, maybe with the revolution it can add value to bitcoin and also increase the value of bitcoin that is not a problem as long as it has a positive impact now and in the future.

He got rich charging insanely high fees and being a chosen gatekeeper to the banks. in the long run people dont like that and it is the opposite of what crypto is about. Now coinbase is a junkyard for eth pump and dumps. to think hes not an insider on a long list of scams is naive. he was part of litecoin charlie lee fiasco and the bch fiasco. he is part of the system most people want to remove. Shiny silk suits were his downfall

It is true that cryptocurrencies must evolve so the CEO of Coinbase is right. Every time I listen to Mass Adoption, only I think. How? It takes more than desire, education and tools for people. Countries with poor technological infrastructure could not announce Mass Adoption. If people need the internet to access technology. Only if the most technologically gifted countries take the first step in supporting Mass Adoption of cryptocurrencies, would they be a great example for other nations to replicate around the world.

Coinbase/Brian Armstrong was also part of the political agenda, the New York Agreement, to co-opt Bitcoin by supporting a hard fork, Segwit2x, that attempted to remove the Core developers' role as stewards of the network.

I think the reason why the mass adoption is not yet happening is because there is misconception about bitcoin because a lot of people think that it is mainly a form of investment and not a currency. In my community, they see bitcoin as opportunity to earn and not a new technology that can improve the broken payment system that we are currently have.

Lack of access through internet is also a major problem, I lived in a 3rd world country so there are a lot of citizens in my country are still not aware to bitcoin and cryptocurrencies because of the lack of access through internet. The mass adoption will happen if every one will become aware on it and will have access to internet.

Transaction volume has grown since the third halving. But it has not grown exponentially. Scaling is a big issue if volume grows very fast. Most of the transactions are from exchanges. Exchanges can bunch up their transactions. There's no indication that people are spending bitcoins directly.

Bitcoin's price crashed 50% in March 2020. That's after the third halving. Liquidity can't fix this problem.

I don't know, it's hard to say if cryptocurrencies will evolve to the phase of real mass adoption. That would mean that it should be used all around the world, in a range as mainstream currencies and having in mind current very low level of adoption and how small number of people is actually familiar with crypto that doesn't see very much likely. However, we can't know what future brings and how this will develope although certain progress will be made.

You just have to be optimistic, as no one not even Satoshi foresaw the level of success bitcoin is currently recording in a very short period of time. They might have wished for it but no one would had been 100% certain it'll come to pass. Just imagine the outrageous price of $1million trading price for bitcoin some speculators are currently predicting the price to range. Most of them aren't even certain that'll ever come to pass but only time will tell.

Having said that, I think the sign are everywhere that the industry would go far. We'll start by conquering the internet before we go manual. Currently I think we already got a darkweb covered now all is left is the e-commerce sector.

No one had really anticipated even into its own creator but we've seen on how far did things thing able to reach. 10 years and counting but the adoption and recognition is already there but it wont really be
that much a good idea if people are way too optimistic on where they do reach out unrealistic numbers.

Time would surely tell on how Bitcoin will able to survive or would be gone into this market.Nothing is sure when it comes to future talks since there are lots of things that can happen along the way.

Each of us can make his own prediction and its pretty common that these popular personalities in the market will really be given out that much of attention anytime they do make
some price speculations or predictions.

I am among those who are optimistic that cryptocurrency will evolve to reach mass adoption, despite the fact that it says differently.
But if you see Bitcoin price movements in the market continue to rise, this should prove that cryptocurrency is gaining popularity.
Hopefully the growth of cryptocurrency this year will be even better, then real mass adoption is indeed happening.

“We have not taken any unnecessary risks with Bitcoin, and we have ensured that it is going to probably survive the test of time as the gold standard, and we may find other solutions with scalability with layer two."

Coinbase has really become one of the important bigwigs in the crypto industry, but unfortunately they are not ready to change anything yet.

We just need more time and keep to use bitcoin and blockchain to make everyone more aware against them. I believe both of technologoy is a revolution for human being. Like what has done by chinese government, how many industry that has been using blockchain as main system? At least this is pointed out that they already know how special is the two technologies.

This thing will be encourge also for crypto currency as a whole that being known by most people. When most people know how their function then sooner or later they will use it and even will never be separated from their lives. It is just, they still reluctant to start using and what step that could be done to use it and also the regulation from their government is the main reason why they put of to using it.

I just saw that Coinbase has been batching up transactions. It proves my point about scaling is not an issue. Whether you like it or not, 2nd layers will be more centralized.

https://blog.coinbase.com/reflections-on-bitcoin-transaction-batching-b13dad12a12

Nothing special you quoted here.
He is clearly CEO not IT guy tho, its not that easy. You can scale things to some point but then you push boundaries for sacrifices only.
There is no perfect solution, thats why Bitcoin won't scale infinitely, layers two will be needed or Bitcoin will become/stay store of value at its core.

Bitcoin needs indeed mass adoption or in time the supply will deplete in its value by continues conversion BTC/USD. The only time for that is now where most country's economy is unstable with banks printing money on a massive scale, also due to pandemic and businesses unable to operate.

This idea is as old as the world.
Obviously, the main difficulty in using bitcoin is its convenience according to several criteria. This is also a brake on its scalability.

Gold is also not very convenient to use, but it exists and continues to grow in value. It's the same with bitcoin.
Not everyone uses Bitcoin, but almost everyone knows about it. Thus scalability is inherently one step away from its leap.

everything coinbase sells has cratered and caused economic mayhem. how long until they are shut down

^^  @Midas111 What are you talking about  ::).

In what world you are living, all the IT companies are owned by nerds who are expert in the trade and if you are not having any idea who Brian Armstrong is he is a double major in Computer Science and Economics including masters, so he is an expert in the field. There is no perfect solution for scaling but that does not mean that we will not be having that in the future.

It's not that yet convenient because only few adopt the usage of cryptocurrency payment in different stores. What if it's implemented? Definitely, it will be one of the most used asset on payment transactions. People barely use digital money as payment and still prefer fiat on their businesses so it'll be difficult before it happens.

People are always suggesting massive adoption but the only thing they prioritize is the profit on it, nothing new. We need the government to step up on creating an environment where we adopt the usage of cryptocurrency. I guess that decentralized and centralized assets will definitely put too good for economic growth.

selling tokens that lose 5% from any given point every single day is a little excessive in the bad idea column

Regarding mass adoption, it is still very far from what was expected. Because most people only use Bitcoin as a digital asset,
while mass adoption can occur if Bitcoin is used as a means of payment. Another problem is being a means of payment required
merchants who accept Bitcoin payments. And the number of merchants who accept Bitcoin payments is still small, this is because
the price of Bitcoin is volatile and not many countries have legalized Bitcoin.

This is absolutely true. However, we should know that there is a long way ahead of us before bitcoin can reach mass adoption.
There are certain factors that contributes to this.
First, so many are scared of the volatility of bitcoin. People got burnt in 2018 when bitcoin rose to it's peak in late 2017 and gradually dwindled. Such people would be reluctant to get back in and with them many they would have dissuaded.
Secondly, many people consider bitcoin only as a digital asset. Until everyone sees bitcoin as a means of payment can it reach mass adoption