Print Page - What your ideas about bitcoin adoption in the future?

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

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

Bitcoin has been around for just a few years and in the last decade ago that Bitcoin have being in existence, its relevance and functions have been widely adopted by individuals as a p2p means of making payments and transaction this independent functionality of Bitcoin has made much Central Government view Bitcoin as an anti-law currency because Bitcoin is designed in a way that it can not be controlled by the government and this has been the major challenging points for Bitcoin global adoption. But even though many countries around the world term Bitcoin as an illegal currency the truth remains that the citizens are still dealing with Bitcoin as a p2p alternative currency. So I believe shortly some other countries are going to reason in the positive direction and adopt Bitcoin just like El Salvador and the Central African Republic that have adopted Bitcoin already.

Bitcoin usage will continue to increase as we start to put more pressure on the current financial system. We are definitely headed towards a future that is very different than the one we live in today. Bitcoin adoption will not end in 2022, but its adoption will gain momentum in the years to come. The Bitcoin blockchain, and the technology of the crypto-economy, will continue to mature and evolve, and this will impact the way we interact with the "digital" economy in the future. As a result, the increased Bitcoin adoption in a traditional environment will help to pave the way for future adoption in new and innovative ways.

I think the Bitcoin economy has the potential to play a positive role in the world economy. Unlike fiat currencies, Bitcoin has no central authority that can devalue it or inflate it to save their own corrupt sectors. I think this is the true advantage of the Bitcoin system. Additionally, Bitcoin is significantly more resilient to national bank currency crises and there are more free-market banking alternatives in existence to improve the efficiency of the system.

Quote from: Wiwo on July 31, 2022, 08:38:36 PM

But even though many countries around the world term Bitcoin as an illegal currency the truth remains that the citizens are still dealing with Bitcoin as a p2p alternative currency. So I believe shortly some other countries are going to reason in the positive direction and adopt Bitcoin just like El Salvador and the Central African Republic that have adopted Bitcoin already.

Of course, this will vary from country to country, but that doesn't necessarily make bitcoin an illegal currency. Bitcoin as far as I know can be traded and transacted anywhere and anytime, even if it is banned then I don't think the government can afford to ban decentralized networks. Bitcoin is a commodity asset in my country, it is tradable but cannot be used to legally pay for goods or services.

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?

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

When you do have a business and tending to accept crypto then it would be possible as long your country doesnt prohibit or banned bitcoin or crypto as a whole or simply we can say that they are still in neutral phase then you could actually do that plan of yours but if not then you should avoid since you know on what would be the penalties or violation. We are still on a decades existence even though we cant assure
on what the future looks like when it comes to payment options but as we can see on how it do progress out then we could really say that it does have the potential.
Bitcoin adoption in the future do surely looks bright but of course always take consideration on minding about the risk.

Football Mate! I have fantasies about it every now and then, Envisaging who would be the First Footballer to be signed with Bitcoin and how much Bitcoin that player would be worth. Which football club will use Bitcoin as a means of payment also.

At times I feel like the FIFA World Cup can be a good place for Bitcoin to get it's awareness it deserves, using Bitcoin as payments for First runner's, second runners and also third. If it can also be used to purchase tickets for the world Cup.

Lastly, I borrow books once in a while from the library, I know there is Gon be a possibility but, not at the moment. I want Bitcoin to be used as a means of payment in the library for subscription and also payments. Finally, I hope to see Bitcoin as a Legal Tender in My Country Nigeria!

Quote from: Fawwaz wildan on July 31, 2022, 08:51:53 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's part of its use case. There have been companies or freelance markets that do issue and pay their workers with bitcoin. That's not actually a new thing and it's just part of bitcoin as a use case.
You'll see those coffee shops that have QR codes if you want to pay them bitcoin. Honestly, IMO, we're just getting started and more merchants and stores are starting to become open to it as a payment and that is because they like the idea of owning bitcoin. They'll get paid by it and then they hold it as an investment.

There aren't many places where bitcoin is illegal, having a country not accept a currency as legal tender doesn't make it illegal to be used (or did you mean both weren't an option in your country).

It's hard to put enforceable borders on the Internet/almost impossible and these sorts of laws will force cryptos to adapt to them I think (instead of being completely illegal somewhere, new systems might be rolled out by individuals there to offer a representation of cryptocurrency while remaining legal).

Paypal's last ceo was very against crypto and were beaten by a lot of payment processors to implement it - this could happen to countries as lots of international currency transfers are expensive compared with crypto fees.

Just as you've stated in OP, it is an evolving currency and a lot of these doesn't just happen, it would take a great dela of time to standardise to attain world wild usage.
Bitcoin is yet to be used or accepted by halp the population of the world as we have it now but, I I optimistic that it will. 2years ago, we didn't have any country to have adopted or legalised it for a legal tender until El-Salvador came up, now we've got Central African Republic and as time goes by, a few others would follow suit. Everyone of these adoptions as it continues to come by brings us closer to a global adoption.

One of the concerns that has made this global adoption an issue is the volatile nature of bitcoin and I think, as we come closer to exhaustion as bitcoin is a limited/scares commodity, the issue of volatility would be solved and we would have bitcoin for a currency.

But the truth is Bitcoin adoption as of now not as a means of payment, Bitcoin adoption is storing the value that holders can make a profit in a certain time.
I doubt this becomes crucial now, when those big holders drop their bags and sell all their Bitcoin have, it will surely have an impact on the market which dropping the price.

However, the awareness has continued to spread and there are some stores now accepting Bitcoin, recently the US added more Bitcoin ATMs which means the demand of the buyers has been there. So I expect that there are massive Bitcoin adoption in the future, in fact, we have a few countries has been starting Bitcoin makes a legal tender.

Quote from: sheenshane on July 31, 2022, 10:49:53 PM

Right now, we can't expect a lot of merchants accepting bitcoin in their payment method.
However, the numbers are increasing already. But for some holders, they won't spend their satoshis but instead hold it.
It is true, most of btc holders are treating this as investment, where they can exchange it with good profits in the future.
But if there will be merchants available, some of these crypto users will use their services, mostly for convenience purposes.

Quote from: TimeTeller on July 31, 2022, 10:57:19 PM

Quote from: sheenshane on July 31, 2022, 10:49:53 PM

The priority is much towards investment than as a currency for daily needs. More number of people getting into cryptocurrency usage understanding the growth of bitcoin over the years. As said the adoption is happening in a slower way and this is really good for the market than getting pushed all the way. Nowadays there were some promotion about bitcoin, from firms that use bitcoin a tool. Apart from that there is no kind of promotion which is the real success.

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

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

That is literally against the Law in your country and that was illegal but the good thing about Bitcoin is the government doesn't have any control over it and we can manage to use this for online purchases ( or investments). If someone will ask you about it, you can simply deny it, nobody will try to seize your Bitcoin unless you have been involved in a crime. Just continue using it mate, I actually use this as payment as well but most of the people around considered this as an investment, not a currency because of government conflict and establishment accepting this.

There have been two that I have been supporting for a very long time and I do not think that it will change anytime soon. One of them is the legal tender route, we are going to end up seeing a ton of more nations that will make it a legal tender for sure, there is no denying that. Second one is getting the machines to accept it, we use credit cards and even our mobile phones these days to pay and why not have bitcoin related product for that? It looks like we are going to end up going head to head with the banking industry over it, but there is absolutely no denying that it could be technically possible even today, so why not better in the future.

Recently I made the number of countries that have legalized the usage of cryptocurrencies in Asia. Among the 48 countries around 10 countries have legalized the usage. Quite a few have restricted it's usage. Remaining countries haven't made any decision whether the usage is allowed or restricted. But, it is possible to see people using cryptocurrencies on all this 48 countries. Amidst the regulation and other factors the usage keeps counting and the same will pave way for increasing adoption.

I think you should somehow clarify your statement that "Bitcoin is a new type of currency that is constantly evolving" especially if you are referring to things that are external to the Bitcoin's protocol or Bitcoin's rules. This might be misunderstood by many that Bitcoin itself could change its rules as time passes by. Related to this, there was actually this contentious question whether the fixed supply of Bitcoin could be changed. It can't be changed.

Bitcoin-related apps, software, wallets, other layers, and other services and products may evolve and change but they are not Bitcoin.

Quote from: Fundamentals Of on August 01, 2022, 01:37:51 AM

We can't clearly deny that we are going to a digital world someday and if this time will come, bitcoin will play a major role. Everything that we are going to invest has a corresponding value to market so it will make us think we should invest through apps related to Bitcoin. The plans of Bitcoin have been improving for how many years and we can't say they've disappointed us of the way they handle consumers.

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

The chance you can see currently of adoption of Bitcoins, this will be the same in the future also.
I mean why government will adopt something which they cannot control or impose tax on it? So in future also the scenarios won’t change according to me.
Moreover we are also happy by maintaining our privacy with Bitcoins. So I guess there is no need of adopting the Bitcoins publicly.
My opinions on this might be differ, but this is what I think of.

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 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?

Awareness, information about the pros and cons is what we should aim for. We cant change something in one day so this takes time and needs patience from our side. Also try to begin this from home, involve your friends and family, try to gather a local community among crypto and watch it grow.

Gradually governments are going to notice and they are also going to take actions. While most liberal governments will allow crypto gradually, this might not be the case for conservative ones. If that is the case then you are screwed.

I know a lot of users in this world are having bitcoin but cannot spend it for daily purposes because of restrictions. Hope for a better future is there and we can only hold on to that hope.

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

How about you, do you have any good ideas for future bitcoin adoption?

There are no new ideas, maybe it should be the same as people's opinions ^{[goods and services].} Its main purpose is as a currency and payment system so that adoption depends only on the legality of a country and the wishes of the people themselves. For example in El Salvador, bitcoin is legal as a means of payment but there are still many people there who do not adopt it as a means of payment for any reason.

However, if a country wants to legalize and adopt it, it can help increase public confidence in financial institutions that have a bad image from the point of view of transparency and system scam, including banks. Integrity and trust can be better if bitcoin is adopted as a payment system and all that is contained in the innovations that exist in bitcoin.

Internet is very powerful and as long as there is internet and you can connect with people outside your country, you can still use bitcoin in your country even if it's not a legal tender. In my country bitcoin is not a legal tender but a good number of the country population uses bitcoin.
It is just like gambling, some countries doesn't support gambling buy gamblers still finds way to bet online. So you can order stuffs online with bitcoin.

About the adoption of bitcoin, it will continue to grow among companies, individuals and governments, especially after the 2024 bull run.

Quote from: Nrcewker on August 01, 2022, 02:42:32 AM

Governments can't control bitcoin, but they do manage to control bitcoin users by regulation. Then from there the government also succeeded with its tax rules against bitcoin users where it made the most sense to apply when the government did not prohibit trading or mining. Regulations between countries regarding bitcoin of course vary and the same applies to tax rules. India has a higher tax percentage than my country, but bitcoin is still not legal as a means of payment. That's the problem, they want profit while they don't support freedom and adoption which can somehow be construed as bullshit.

Quote from: Nrcewker on August 01, 2022, 02:42:32 AM

Moreover we are also happy by maintaining our privacy with Bitcoins. So I guess there is no need of adopting the Bitcoins publicly.
My opinions on this might be differ, but this is what I think of.

Even without adoption and legality, you can own bitcoins with a good level of privacy which the P2P marketplace will help. Decentralized exchanges like Bisq can also help you maintain your privacy, these are exchanges that do not require you to register. Then later if you want to remove traces or obscure transaction traces, the mixer can also be used as a follow-up effort so that your privacy can be better.

Quote from: rby on August 01, 2022, 08:44:02 PM

About the adoption of bitcoin, it will continue to grow among companies, individuals and governments, especially after the 2024 bull run.

Why wait after the 2024 bull run? The rise in the price of bitcoin will attract more new investors into the market but for companies and governments the adoption and acceptance of bitcoin depend on its technology and the benefits it will bring to them. Such as corporate-level bitcoin adoption: if they don't invest but only accept it as a payment method, it takes a specific time for this, this will help them get more clients from crypto investors. If they don't invest and don't want to hold bitcoin then they can convert bitcoin to fiat instantly.

First I want to say, that bitcoin is not a new type of currency, because it existed before developing countries started to like it, now bitcoin has developed far, there are even some countries that use it as a medium of exchange for the purchase of certain goods and services. This shows that bitcoin has become very popular and growing in certain countries.

Talking about this law will be difficult to find an answer, because the function of bitcoin itself is not to weaken the challenge of fiat currency, but people connect it too far, so bitcoin is the reason for the inability to accept, I think the presence of bitcoin has helped so many people who want to take part in this space, while the use of bitcoin itself is very dependent on each individual

Quote from: posi on August 10, 2022, 03:54:32 AM

Quote from: rby on August 01, 2022, 08:44:02 PM

About the adoption of bitcoin, it will continue to grow among companies, individuals and governments, especially after the 2024 bull run.

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.

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.

Quote from: Issa56 on August 10, 2022, 11:24:39 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.

Quote from: Cryptmuster on August 10, 2022, 12:01:45 PM

Quote from: Issa56 on August 10, 2022, 11:24:39 AM

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.

Quote from: Cryptmuster on August 10, 2022, 12:01:45 PM

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.

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.

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.

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.

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.

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.

Quote from: Fawwaz wildan on July 31, 2022, 08:51:53 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.

Quote from: Rockstarguy on August 10, 2022, 01:46:42 PM

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.

Quote from: Issa56 on August 10, 2022, 12:16:21 PM

Quote from: Cryptmuster on August 10, 2022, 12:01:45 PM

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.

Quote from: tbterryboy on August 11, 2022, 08:34:34 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.

Quote from: taufik123 on August 10, 2022, 05:29:45 AM

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.

Quote from: Moeda on August 11, 2022, 06:17:46 PM

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

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 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.

Quote from: Rockstarguy on August 10, 2022, 01:46:42 PM

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...

Quote from: 2stout on August 10, 2022, 04:01:16 AM

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

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

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

Quote from: Tony116 on August 12, 2022, 02:42:13 AM

Quote from: 2stout on August 10, 2022, 04:01:16 AM

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

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

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

Quote from: dark1234 on August 11, 2022, 10:17:23 PM

Quote from: Moeda on August 11, 2022, 06:17:46 PM

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

Quote from: Rockstarguy on August 10, 2022, 01:46:42 PM

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

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

Quote from: usekevin on July 31, 2022, 10:38:50 PM

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

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

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

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

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

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

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

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

Quote from: NicNacCoin on August 16, 2022, 10:15:00 PM

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

Quote from: TimeTeller on August 16, 2022, 11:58:34 PM

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

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

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

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

Quote from: NicNacCoin on August 16, 2022, 10:15:00 PM

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

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

Quote from: LittleBitFunny on August 17, 2022, 03:36:59 AM

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

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

Quote from: nullama on August 17, 2022, 01:48:14 AM

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

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

Quote from: nullama on August 17, 2022, 01:48:14 AM

Quote from: TimeTeller on August 16, 2022, 11:58:34 PM

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

Quote from: NicNacCoin on August 16, 2022, 10:15:00 PM

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

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

Quote from: Z-tight on August 17, 2022, 06:32:27 AM

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

Quote from: Despairo on August 17, 2022, 04:15:23 AM

Quote from: LittleBitFunny on August 17, 2022, 03:36:59 AM

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

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

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

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

Quote from: Moeda on August 17, 2022, 06:31:37 PM

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

Yes, I agree. Of course providing an understanding of blockchain is much more important nowadays than legality. Precisely because people are still unfamiliar with blockchain so that legality is difficult to obtain. The pros and cons of crypto are still going on. Current crypto users in the world are still below 5% of the total world population. Not to mention we're talking countries that don't understand and that reject crypto.
I think that it is our job who understands crypto, especially Bitcoin, to give a positive view and use it in positive ways, so that Bitcoin will automatically be adopted by society in general.

Quote from: Natalim on August 10, 2022, 01:43:08 PM

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.

Apart from the fact that people have benefited from bitcoin, bitcoin is also in the hands of people and not am individual, for bitcoin to fail it means we all will agree that I fails and not one person. I just wish many people can start to run full nodes in order to have a little say about Bitcoin. Bitcoin is precious and we need to guide it, and the future of bitcoin is very bright.

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

Quote

Bitcoin is a new type of currency that is constantly evolving.

Bitcoin was launched in 2009 which was 13 years back. From the initial lounch of $BTC, it had no value despite being refered as a store of value but in the past few years, lots of investors has developed the desperation to own Bitcoin, some companies has also chosen to accept $BTC as means of payment. I believe more innovation will come as time proceeds.

Quote

Many new ideas about its use as a means of payment will be discovered and perhaps this revolution will continue to escalate.

If Bitcoin persevere, I believe more usability will be unravel. On May 22, 2010 Laszlo Hanyecz made the first recorded purchase of a physical goods were he spent 10,000 Bitcoin to purchase two Papa John’s pizza. (Read full story here: https://www.google.com/amp/s/www.forbes.com/sites/rufaskamau/2022/05/09/what-is-bitcoin-pizza-day-and-why-does-the-community-celebrate-on-may-22/amp/)
Microsoft company has been accepting Bitcoin for use in their online Xbox Store since 2014 (you can read here:
https://buybitcoinworldwide.com/who-accepts-bitcoin/) other companies too accepts payment in Bitcoin. Perhaps in more years to come there may be more usability in of Bitcoin.

Quote

Here in my country bitcoin is not a legal tender, but I know that some of you may have used it as a means of payment for goods or services.

In my country, Bitcoin/use of crypto is not totally ban but the CENTRAL BANK of my country has warn all banks to discontinue every transaction of cryptocurrency with debit and credit card. We are now leaving by P2P as means for adoption of cryptocurrency - fiat or fiat -crypto.
On May 22, 2022 was the first time I sold BTC this year (https://imgur.com/ZL0tf3K). I had no other options of paying my school fees, so I had to sell some portion of my $BTC to fulfill the school fee (https://imgur.com/lmm5CYO)

Quote

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.

Advicing you to go against your country rule is bad because going against it may attract some penalty as well.

Quote

How about you, do you have any good ideas for future bitcoin adoption?

I think future adoption of Bitcoin may be more easier considering that some Decentralised or centralized Blockchain platform will be developed with more features.

Quote from: Sayeds56 on August 17, 2022, 04:30:30 PM

I fully agree with you that extreme volatility of Bitcoin is the main hindrance in its mass adaption,

Why does volatility become the obstacle to Bitcoin adoption? I think volatility is even the advantage of bitcoin since the volatility makes people get huge profits by investing in Bitcoin. If there is no extreme volatility, people will have no chance to earn huge profits. You must know that volatility makes Bitcoin price to move significantly.

Quote from: Sayeds56 on August 17, 2022, 04:30:30 PM

volatility will only come down when its marketcap will reach at least $5 trillion, then whales won't be able to shake its price easily because its investment base will be broadened

What do you mean? I don't think volatility will be over once BTC market caps reaches $5 trillion. Volatility is the nature of Bitcoin, it is happening because Bitcoin is decentralized. Anyway, whales can manipulate Bitcoin price any time, as long as bitcoin is decentralized.

Quote from: rby on August 17, 2022, 08:08:26 PM

Quote from: Natalim on August 10, 2022, 01:43:08 PM

Nothing is assured if we do speak about future or upcoming things to happen ahead even though Bitcoin is really that the main thing been supported into this community but we cant ensure that it would

really be just the same in future years to come.We dont know if there would be something better which would really be patching up into its current place but in overall its really hard to consider nor mind

off about those probabilities since we do know that it cant really be just easy to replace on something that is really on the first cryptocurrency existence which is really hard
to ignore and wont be putting some consideration and recognition to it.

Quote from: Despairo on August 17, 2022, 04:15:23 AM

Quote from: LittleBitFunny on August 17, 2022, 03:36:59 AM

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

We know that cryptocurrency or bitcoin attracts a large number of investors to the market because of the volatility of the market. Bitcoin is considered a risky form of investment because of its high volatility, high volatility that will bring great returns to investors. I think most market participants are looking for high returns and not bitcoin stability. We are all looking at bitcoin as an investment rather than a currency.

Quote from: Oneandpure on August 17, 2022, 07:22:28 AM

I would guess that people who are accepting it takes that risk, and doing it for long term and not just short term. Think about it this way, if you accepted it, and have to sell and get the product back, then it is not going to be actually that smart decision, it would probably be something bad.

This is why it is smarter to actually have something that is reimbursing you for the sold item in a fiat manner, and keep the crypto in savings account. That way you will not have to keep on selling or risking volatility, even if it drops, you will be doing fine and that will be helping you a lot. That's my personal view for people who would like to accept it, find a way to cover the expenses in fiat, then the rest goes to crypto.

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

Here in my country bitcoin is not a legal tender, but I know that some of you may have used it as a means of payment for goods or services. As for new ideas, I think of a few but the fact doesn't directly allow me to legally adopt them as doing so would be against the law. How about you, do you have any good ideas for future bitcoin adoption?

Bitcoin doesn't have to be legalized in your country to own Bitcoin, and that's why we have the peer2peer market where people living in an area where Bitcoin is prohibited could easily connect with each other to exchange Bitcoin for Fiat money. All you have to do is look for a exchange which supports your country, of which "Binance" and "LocalBitcoin" are my recommendable exchange that supports most countries but don't know for yours. Because just like Nigeria whose government is against Bitcoin and yet Nigeria happens to be the top list in terms of Bitcoin trading volume all around the world. Because all that could only be made possible through the use of the peer2peer market.

I'm not required to give ideas about future Bitcoin adoption. ;D
There are people, who are smarter than me, the Bitcoin developers. They will propose and implement innovations that will make Bitcoin better and help for mass BTC adoption.
It's hilarious to think that every member of the Bitcoin community is somewhat obliged to promote Bitcoin to friends and family and help in spreading the concept of Bitcoin around the world. There's no such obligation and everyone is free to learn about BTC and to choose whether or not to use in his/her daily life. There's plenty of free info about Bitcoin on the internet. I'm not going educate and spoonfeed anyone about BTC.
I'm not sorry to hear that Bitcoin is not a legal tender in your country, but that doesn't stop you from using BTC.

Quote from: lalabotax on August 17, 2022, 09:50:48 PM

Not everyone in the world likes volatility. Especially retailers who only make an average profit of 10% of the wholesale price, they can't sell all their sales with just one click. On the other hand (if bitcoin is adopted) they will have to maintain the value of profits from volatility which will certainly be another job to think about. Bitcoins can erode the regular profits of businesses unless they behave like a typical investor i.e. “invest as much as you can afford to lose”, meaning they are fine if their stock of merchandise dwindles.

Quote from: darewaller on August 18, 2022, 06:26:56 AM

If the perception of accepting bitcoin as a means of payment and conversion to fiat is long-term, I think many sellers will experience capital difficulties because the proceeds from sales and profits they get are still held in bitcoin. It may be different from large companies if they accept bitcoin as a means of payment and on the one hand they have large reserves and capital. The situation is very different if small businesses accept bitcoin as a means of payment, on the one hand they have no choice but to make bitcoin in fiat form as quickly as possible because with minimal capital they cannot restock other goods. If you have enough deposits, of course, there is no big risk when you receive bitcoin payments and you can hold it at any time.

Quote from: Rockstarguy on August 10, 2022, 01:46:42 PM

Bitcoin adoption will be certain in the future as long as we continue to patronize bitcoin and use it more as a payment option rather than just a single investment. Although it’s seldom to see people nowadays that they are paying using bitcoin, I guess it’s also understood because most of the country’s government today are not into bitcoin adoption yet. However, changes are inevitable, and we can only see good future for bitcoin if they start supporting it rather than seeing it as an enemy and threat to fiat.

Quote from: passwordnow on July 31, 2022, 09:44:08 PM

Quote from: Fawwaz wildan on July 31, 2022, 08:51:53 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?

I have always heard news that some stores are already accepting bitcoin as a payment option, sadly it’s not yet happening in my own place. But I know eventually as more people are now interested in bitcoin ownership, then it will also open opportunities like store owners to accept bitcoin payment as it also gives them chances to own and invest into bitcoin as business minded persons will always think of more profits coming into their way.

Quote from: Viscore on August 18, 2022, 09:55:08 PM

Quote from: passwordnow on July 31, 2022, 09:44:08 PM

Quote from: Fawwaz wildan on July 31, 2022, 08:51:53 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?

What happens is that even if the adoption of bitcoin is growing every day at the same time due to its attractiveness as an investment many people are not using their bitcoin for their everyday purchases, so businesses at the moment do not really see too much of an increment on their sales when they adopt bitcoin, however I think we will get to a point in which the adoption of bitcoin will be so large that not adopting bitcoin will hinder the chances of a business becoming successful, this will create the incentive for those business to accept it and in return will create more opportunities for people to spend their bitcoin, creating a positive cycle which feeds itself.

Quote from: Oneandpure on August 18, 2022, 01:00:14 PM

It's up to the adopters how they treat their bitcoin, and I think they're the only ones who know what's best to do whether converting them straight to fiat or holding them long term. I don't mind adopters' strategies because they know what they have to do for their own business.

The risk involved is price volatility, but that is not the only risk to consider. I can think of a more extreme risk where an adopter loses access to his wallet because he fails to implement good security for his wallet. This must be rare because I think some of them will use an exchange wallet to receive a small amount of the price of the item.

Quote from: tjtonmoy on August 18, 2022, 02:50:49 PM

I have no idea when this will happen, but I know for sure that this will happen. It will take a lot of time to be finally legalized. We need a new generation of world leaders who understand the value of crypto and they can make this thing happen. So let's wait for that day. Because in the presence of this old generations, this will never be possible.

It is never about generations. There are people who understand how bitcoin works and finds it harmful for their future and such people will always oppose bitcoin and its adoption, it need not be old or young generation. When a person sees their future crumble because of a factor, they will try to eliminate or delay the factor.

Future governments might become more lenient towards crypto but this become more streamlined if the regulations come in place. So first will be regulation and then there will be widespread adoption.

Before this happens, we old timers need to accumulate as much bitcoin as we can so we have a profitable outcome in plan.

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

The beauty behind BTC's technology is the power of the blockchain to create a public spreadsheet where it contains permanent information that people cannot change. Once you have this technology, you can adopt it to various services and products. For example, if you scan a fruit in the supermarket, its full database containing all the processes that it undergo will reflect. This will give you an idea if the fruit that you just bought is safe from all the harmful fertilizers or if the farmers handled it with care.

The example that I provided above is just one out of the many things that the blockchain technology can do.

Quote from: GigaBit on August 19, 2022, 06:44:59 PM

Quote from: tjtonmoy on August 18, 2022, 02:50:49 PM

Everybody knows that how much important of the Internet for social communication or information sharing. Likewise, there will be no need to explain the importance of Bitcoin for financial transactions in the future. At one time fiat money could also be characterized as a scarce commodity. That day is not so far. One thing is that the faster crypto is legalized the more we will continue to take its advantages.

But there are a lot of counties where Bitcoin is not acceptable as legal currency. Even many people don't know about the Bitcoin at all. Illiteracy is a great curse for Bitcoin but people will adopt digital currency in future, it is almost sure.

Quote from: Rana590 on August 19, 2022, 07:07:52 PM

~snip~
But there are a lot of counties where Bitcoin is not acceptable as legal currency. Even many people don't know about the Bitcoin at all. Illiteracy is a great curse for Bitcoin but people will adopt digital currency in future, it is almost sure.

As far as I know, as long as there are two people willing to exchange goods and services for Bitcoin, then they can do so, anywhere in the world. I don't see how something like that could be stopped.

Quote from: nullama on August 20, 2022, 01:11:20 AM

Quote from: Rana590 on August 19, 2022, 07:07:52 PM

As far as I know, as long as there are two people willing to exchange goods and services for Bitcoin, then they can do so, anywhere in the world. I don't see how something like that could be stopped.

It can still happen but if you look at this moment, especially for my country right now, it is not supporting it even if there is such a desire, it still can't be done with just that in the whole world.
For some regions it may be possible but not for some countries, especially with the condition of the country which clearly rejects bitcoin.

Quote from: tjtonmoy on August 18, 2022, 02:50:49 PM

When you say this is impossible, I think it is wrong if they think in the future maybe he will understand more by knowing the development of increasingly sophisticated technology in the future, especially crypto has a very good future for the country's economy to become more developed. Maybe this will be considered first to ensure that it will be important for everyone in this country, but it will take a very long time because this has to be discussed with everyone in this country.

I'd really like to see bitcoin as a legal tender in my country but it's probably never going to happen. Most governments are so afraid to lose power and the EU is focused on getting rid of cash in total. They're restricting ATM withdrawals and payments you can make in cash. Nowadays you cannot buy a new car or a house with cash anymore because in most countries you aren't allowed to spend more than a certain amount. In Portugal this limit is 10k EUR, In Slovakia 15k EUR, and so on. I feel like this is where Bitcoin could excel. It will allow people to exchange like they'd do with cash just with no inflation and with no government surveillance.

Sometimes it is not about having new ideas, it is about supporting existing ones and simply using bitcoin.

Fortunately there are users who go further on an individual level, even beyond what they could do as individuals, here in the forum there are several cases, they have dedicated themselves to teaching or at least promulgating that bitcoin exists.

In that sense, it supports what exists, that in itself resolves the future of bitcoin since it gives it continuity and supports those existing ideas or projects, whether they are individual or those that exist commercially.

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

Transactions in the world have been done by fiat money for a long time. Everything has changed but the transaction system has not changed yet. But at this decade the people are trying to make it more transparent but are not succeeding in any way or finding the right medium. Among these inventions is Bitcoin which has gained worldwide reliance with the help of blockchain technology. It is decentralized so no country's government can control it. However, considering its positive aspects, it is expected that it will get legal tender almost everywhere in the world, maybe we have to wait for some more time.

Quote from: teddybear on August 22, 2022, 06:06:33 AM

I thick the leading exchange in future is crypto mainly Bitcoin, even though Bitcoin falls more than 50% in past months it recovers like a Boom in future and many of the big investors holding their asserts 8)

If bitcoin falls by 50% it will not happen in a single go but step wise drop at most but there will be an obvious correction to it as well. Hence such huge movments are likely not going to happen.

Still for the record older charts show that Bitcoin recovery is gradual but complete and this the support behind it from the community.

Which in turn should not affect adoption by merchants. Because even a large movement in price is would not affect the price of an article. Again with investors this is opportunity.

So largely speaking, price movments should not have much impact on adoption. After all we have forex markets but do they influence the sale of overseas items? Not much.

Quote from: TheUltraElite on August 22, 2022, 08:14:59 AM

It just takes a while to recover, it is not really easy to just have a big recovery all at once, it always gets to a point where we go up a bit, go down less, then go up bigger and small drop then big increase and small drop keep doing like that until we break over the next ATH and that’s how we reach all time highs. Doesn't mean that we will not have huge gains time to time but usually it is 2 up 1 down and always goes like that.

This is our personal situation because we do not like to see it go up like crazy, we want to get out a bit, like take profit, or get the initial investment out and keep the profit in and that’s how we make a profit most of the time.

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

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

Bitcoin grows on its own with the development and advancement of technology that exists today, adoption is not one thing that can guarantee growth in the crypto market, many countries adopt Bitcoin, still Bitcoin runs itself until now, no one can control Bitcoin even though all countries do it.

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

Here's my view, an answer to all economic challenges by giving you freedom, the key is right there in from of you which is the adoption of bitcoin and the goodnees is that you don't have to wait till the future, its start immediately you grab with your hands.

https://i.imgur.com/Hpicyy5.jpg
source (https://twitter.com/coinbureau/status/1561673639287824385?s=19)

Quote from: TheUltraElite on August 19, 2022, 11:02:24 AM

Quote from: tjtonmoy on August 18, 2022, 02:50:49 PM

I believe generation would definitely play a role in it. I mean think about it this way, we are talking about old people who lived in a world for 50 years that did not have crypto, and people who will born into crypto or were 10 years old when bitcoin was invented.

These people who lived their entire life with crypto could see why it would not be harmful and they can see it more clearly, there could be some that will think it is harmful even in the younger generation but that number will be significantly low compared to the older generation who will have far more people who would be sceptical about crypto and that is why overtime when there are new presidents there will be better laws for crypto.

Quote from: usekevin on July 31, 2022, 10:38:50 PM

Bitcoin will always have a good future when it comes to being an asset because people nowadays are more interested into digital currencies. However, when it comes to bitcoin adoption, I believe there is always progress every year as some of the country’s government are now starting to be more open into adopting cryptocurrencies particularly with bitcoin as its demand from the people keeps growing every year.

Quote from: CryptoHeadlineNews on August 18, 2022, 06:28:09 AM

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

Bitcoin is not also widely adopted in my own country but our government do not also put strict prohibition on it. So the people here still manage to do safe transactions with bitcoin because we have local exchanges that accept bitcoin. For now, bitcoin is just as good as more of an investment, but you can also use bitcoin in buying goods and services but in only selected stores as bitcoin is still not totally legalized in my country.

Quote from: Sanitough on August 24, 2022, 08:58:14 PM

Quote from: usekevin on July 31, 2022, 10:38:50 PM

The perception of Bitcoin as store of value and fast growing asset will continue to dominate the minds and hearts of investors in coming months and years but its adoption will remain slow as it is very volatile compared to fiat currencies. We have the example of El Salvador where government bet their economic salvation on Bitcoin but this gamble didn't work out because Bitcoin price crashed and the country is in economic crisis though it is not fair to put all blame on Bitcoin, their financial mismanagement is the root cause of this difficult situation.

Quote from: Memorabilia on August 25, 2022, 06:25:37 AM

FED
I would prefer HODLING at the moment. As I have not invested more than I could afford to lose, so even if the prices go down I won’t be affected financially.

In deed, it is a right strategy to hold this precious asset with patience and wait for return of bull market and I am optimistic that Bitcoin will hit $100,000 in the next bull run. For the time being ,Bitcoin market is likely to remain sluggish until world economy starts recovering which is likely to happen when inflation starts coming down & FED stops raising interesting rates .

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

Even if there are countries or people who have not yet redeved fully bitcoin, but rest assured this is an alternative to the problem of current economic complexity. When viewed further, Bitcoin Adoption has developed far, and has placed as a legality to legalize as a means of payment, bitcoin visionary can hypnotize many people to do parts in it, so it's not so strange why bitcoinin continues to grow up now. Countries that can see opportunities will continue to improve this as an appropriate decision as an alternative problem, based on the consideration and rules set

Quote from: MinoRaiola on August 24, 2022, 05:58:35 PM

Quote

What your ideas about bitcoin adoption in the future?

I see a lot of things very simple in my life and I don't think we have to make it complicated. And people want it simple and fast, which is the successful concept from apple. Make it simple! And I think that is a key to bitcoin becoming more successful and many more people to use it. There are other good reasons for bitcoin, but if you want to reach the masses of people, it muust be simple.

Yeah, life is more wonderful without any complications but I think the other meaning of the word complications or complicated is not bad, like for example when creating a crypto, when creating a phone, etc that can't possibly be do by a regular/single individual or can't be complicated in just a few days. They need that kind of complications because as you can see it helped our life drastically.

I think bitcoin isn't that simple but you need some knowledge to operate it although it is possible to explain it to someone else in a less complicated way, as long as those people already have some knowledge which can be used to operate a btc.

Quote from: Flamous on August 22, 2022, 05:43:26 AM

Based on the utility and scarce amount of Bitcoin, it holds great potential.

That's true, this potential has the capability to influence change but cannot be changed by fiat economy, bitcoin is built on a network protocols that supercede local currencies and the value created with this digital currency is extraordinarily superb such that it does not deminish with time, bitcoin has come and its staying for live, this is the only currency that has succeeded after the introduction of fiat and make hold.

Quote from: TheNineClub on August 20, 2022, 07:45:06 PM

BTC adoption in the future will have to come at a cost of some core values BTC has. There will have to be some give for some get, and the major thing is government regulations that would give more security towards users. And that will come as more transparency.

Thanks to government regulations, they can complicate things, and can prohibit access to bitcoin much more, and since they have access to deny certain dns, is there another way to use btc outside of the usual? Electricity and internet?
There is something that has caught my attention is if through Bitcoin we could use it without the need for internet, there are many projects that are being developed but none have managed to become effective, I would like us to be able to use bitcoin just by making a call or an sms, this can be offered maybe using satellite technology if it adapts, this is one of the things that could be in the jobs that we need.

The researchers who have taken this initiative into account have not been able to develop something that really solves them, if it is with gdata transfer through packages it should not be so difficult, I think that the difficult part is the mining part, perhaps with the energy clean you can have better results right?

Quote from: Doan9269 on August 26, 2022, 06:28:50 PM

Quote from: Flamous on August 22, 2022, 05:43:26 AM

Based on the utility and scarce amount of Bitcoin, it holds great potential.

And it was an amazing creation built for something good and beneficial to everyone who adopt this. I actually do not see this replacing fiat/local currency in the future but as we adopt into more online transactions, the use of Bitcoin will surely increase and be used by most individuals. Many people believe this new technology had something to do with us in the future and that is why they support this and make this a reason why it is still alive despite major attacks and banning from developing countries.

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

I think that in the future it is deemed necessary for every country to be able to adopt a digital currency such as bitcoin, because I consider that this digital currency (Bitcoin) is an alternative payment instrument that is very easy to use for some entrepreneurs in paying salaries, and also easy to use. transact projects in different countries,
Although the Government still views Bitcoin as an anti-legal currency and an illegal currency, in fact, citizens still use Bitcoin.

Quote from: Stalker22 on July 31, 2022, 08:51:12 PM

I see the full/mass adoption of Bitcoin eminent. If we had the opportunity to return to this world many years later, we might not recognise where we left it; it would be surprising and amazing to witness that minor stuffs such as writing pen would be paid for with Bitcoin.

Quote from: TheNineClub on August 20, 2022, 07:45:06 PM

Quote from: Novita on August 28, 2022, 03:30:42 AM

And this is one of the developments that must occur, every country should be able to develop to be able to adopt this digital money, more precisely Cryptocurrency (Bitcoin), with this many people will be able to use it as a means of payment, especially for an entrepreneur and they are also engaged in this Cryptocurrency field too.

And I think for some governments or countries that still don't legalize Cryptocurrency or they still think that this is illegal digital money, they should understand this Cryptocurrency first and it seems that many countries will legalize this Cryptocurrency. And this will really help people who do have Crypto assets, of course, both in transactions and wanting to interact with other Crypto Asset holders.

Quote from: Jiovanni on August 28, 2022, 12:49:17 PM

Quote from: Stalker22 on July 31, 2022, 08:51:12 PM

being able to purchase miner things such as pen and pencils is not so far in future. i can see it is going to happen sooner than we thing. and there are some places this is already happening. yesterday I saw a post about a Street Tea seller accepting bitcoin as a payment for his tea. and there are many other shops who do the same. i also have seen so many bitcoin ATM mechines in many places. so it is safe to assume that bitcoin's mass adoption era is almost arrived.

Bitcoin adoption has been a very important thing that people want, and the level of adoption from various locations around the world is encouraging, even though many countries have yet to fully legalize its citizens. Bitcoin is not legal tender in my country, but many young people are adopting it and using it as a source of income through trading, and many have taken it to the next level by using Bitcoin to pay for goods and services. I am confident that the rate of Bitcoin adoption will continue to rise as technology advances.

Quote from: Novita on August 28, 2022, 03:30:42 AM

I don't know where you got information about Indonesia People using Bitcoin. Because in every corner of this country nothing is more valuable than Rupiah, if a law enforcer found you using another currency except the rupiah, jail is waiting for you.

Quote from: Hyphen(-) on August 30, 2022, 07:55:43 AM

Not sure what you're on about.

You don't need to want Bitcoin adoption to use it.
You don't need to be "legalised" by your country to use Bitcoin.
Bitcoin is not legal tender in almost every single country in the world (only El Salvador, CAR and virtually yes in Japan come to mind) but you also don't need it to start using it and accepting it, as you mentioned.

I don't think it's so much tech advancing that'll increase the rate of adoption, but the ease and simplicity of using it.

Quote from: Hyphen(-) on August 30, 2022, 07:55:43 AM

Unfortunately, the countries that adopt bitcoin are not countries with a strong economic level, so their influence is less strong on widespread adoption. and because many people saw the opportunity to profit from bitcoin by trading or investing, then a shift from its main function as a currency occurred, but this is actually more and more people who are curious about bitcoin and eventually adopt it for income

Quote from: andriarto on August 30, 2022, 11:51:15 AM

Quote from: Hyphen(-) on August 30, 2022, 07:55:43 AM

As much as that could be through of countries with low economic influence coming up as early adopters in other to build there economy, won't it make more sense to note that, it would offer more to developed nations with a strong economy. Where it doesn't need to build anymore but merely assist as it should be.
Unfortunately, decentralisation would always be viewed by centralization for an enemy.

In all, bitcoin would surely return back to its original purpose as a currency for exchange of goods and services. Maybe afterthought last bitcoin is mined but until then, we would continue to work it as it is.

After all, countries with serious inflation issues have there citizens invest in buying dollars.

Quote from: Sarah Azhari on August 30, 2022, 08:02:59 AM

Quote from: Novita on August 28, 2022, 03:30:42 AM

That's the problem right here. People on this forum every day coming to do so many daily posts, purportedly supporting Bitcoin and using it, and then they're saying no one uses Bitcoin in their country... what do you do with all of your campaign earnings? Not use them? Even depositing them somewhere and selling them for rupial is using it, albeit at the most basic level.

I've yet to find someone put in jail for using Bitcoin -- what's illegal is to offer trading services, but no way they're going after P2P.

Oh, and I was in Indonesia just this month, and this is right smack in the public eye:

https://i.ibb.co/f43XJGK/image.png

Has been for a long time, don't see those owners in jail...

Quote from: Fawwaz wildan on July 31, 2022, 08:27:07 PM

looking at your post history, it looks like we are from the same country...

it is true that our country does not make bitcoin a legal tender because the rules about it have been regulated in a law "that bitcoin can only be categorized as an investment asset, not a payment". but we can wait for it, I believe in the future, when the push about the mass adoption of bitcoin and crypto gets more volatile then we will freely use bitcoin as payment for everyday purchases or even expensive goods.

So far, I've only made purchases via Bitcoin a few times and everything I do is P2P, you can easily find sellers who accept bitcoin payments on social media like Facebook and even this forum itself, but look at their reputation and try to use an escrow service if needed.

Quote from: buwaytress on August 30, 2022, 12:36:12 PM

The younger folks in my country are pro bitcoin. We do not have any qualms carrying out transactions using bitcoin. Although Bitcoin is technically ban in my country. We use P2P. Even businesses that have signs on their doorposts acknowledging that they accept bitcoin do it without leaving any trace whereby the government can find out. A few businesses I know accept bitcoin as payment but it is not rampant. In addition, even though the government knows that P2P is what we use for out bitcoin exchange, there's nothing they can do about it.

Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: Fawwaz wildan on July 31, 2022, 08:27:07 PM