Bitcoin Forum

Hi,

I was thinking for a while about who will be the next people to adopt Bitcoin after techies. IMO they should be the financial services guys or black market's types. What do you think?

I think that people who don't use bank systems earlier like afrika.

I saw Gavin telling in an interview that unfortunately black market guys accepted bitcoin before everyone else. So, they have already adopted and got arrested before u techie :P

Now is the time for businesses that would come up from within the community, who'll hold or use the coin directly, i.e. not like tigerdirect or overtock who'll accept coins to dump them on market immediately.

Musicians.

In Africa, those who does not use bank are mostly illiterate people. Unless u can educate them, they wont be able to use bitcoin.

"Those who do not use bank" is a very good answer! I imagine workers sending money to theirs families in other countries (mexicans and cubans in USA for example) but I am not sure about africa   

WWE wrestlers

Haven't the black market already adopted bitcoin? In fact, I'd say they were one of the first to do so and bitcoin definitely got a kick start with its use on the Silk Road and darkmarkets etc.


Not true. Most Africans don't have banks because they're illiterate (also not true) but because they just don't have access or are even allowed a bank. Bitcoin could really thrive in the unbanked of the developing nations in the near future.

The next big push will come from traders once the Winks get approved.

techies
goldhoarders
financial guys
general public

in that order.

right now we are in the gold hoarders as i am seeing many gold hoarders saying "dont invest in bitcoin, sell your bitcoin for gold".. the reason because they want to offload their gold and grab your bitcoin.. (its basic reverse psychology)

next we will see proper financial guys bying bitcoin once bitcoin is on the proper financial markets with proper audited and transparent exchanges
and then eventually average joe will cotton onto the idea.

I would say that the black market types were the first to adopt bitcoin and are likely the reason for much of bitcoin's success so far. Users of the blackmarket created a lot of the demand for bitcoin in it's early days that caused it's price to rise above (fractions of) pennies per btc to dollars

next bubble will say
new adopters come in crowd when bubbles happen

Yup. Some of the goldbugs have realized that bitcoin is better gold (plus an upside kicker like a pre-IPO tech-stock), and have gotten their feet wet in bitcoin. More and more gold-bugs will eventually realize that they'd better diversify into bitcoin as the world leaves them behind.

Demographics are not in the aging goldbugs' favor. The hard-money minds in the next generation will be much more naturally suited to bitcoin than to gold.

And the market-cap boost provided by an influx of gold-bugs will get the finance guys more interested; they need more liquidity to play.

Porn industry and their clients.

National Curling Players

Drug market guys were the first to adopt it years ago. They are the ones that kickstarted it on the silk road. Hopefully wall street is next in line. That will push the market cap way up. Big money investors. After that it will be everyday users. Couple years down the road.

This is probably correct. There was an article written a few months ago that discussed how high of fees payment processors charge producers of porn, it was ridiculous. It talked about a specific couple's experience with various sites and how they went from site to site, each time finding a site that gave them more of their revenue. I believe before they starting accepting bitcoin they would be paying over 30% of their sales to the site/payment processor

I think it's the black market and criminals who are always first to adopt and take advantage of new emerging technologies.


Not sure about the porn industry specifically, but it could gain traction within the wider adult industry ie porn/cam sites and sex toy shops etc (unless that's what you meant). A lot of people don't really want their personal details tied to the payments they send to these places so bitcoin is perfect for this.

I don't think this is always necessarily true. The technology would need to be "sound" (as in secure and not exploitable) and able to provide users with ways to maintain their anonymity. Bitcoin happens to meet both of these criteria 

I am really amazed, how ignorant a lot people are. Are you from the USA?

the problem with (online) porn industry btc adoption is that the way btc works it does not support an important part of their business model: they want you to subscribe for months and years and they want to drag your money from you every month via credit card. eventhough it is expensive for them, it is more reliable for them then to wait for their customers to send bitcoins every month again. btc can only be pushed, not pulled.
i guess there is a market for a btc service that somehow manages such re-occuring payments. if a service like this existed the online porn industry would adopt btc much faster.

Financial services (wall street) & politicians seem to be the leading mini-adopters

So I guess the whole Kenya is illiterate then? They have used Mpesa before Bitcoin existed.  :( There are HUGE amounts of people, who in my opinion are illiterate, BUT they can use money.

Africa have lots of Banks and people who can read and write, and the only reason why they not using Bitcoin, would rather be, because they do not have the infrastructure to support it, that is why they using Mpesa on mobile phones.

Black market operators are in no way going to be the next bitcoin adopters, they are the "early adopters". That is why we have the price shooting to 1000 usd in such a short span of time and then slumping when authorities started the clampdown. It's only the wall street financial guys that needs to be moving in next. Until we still this happen, bitcoin price will continue to remain more or less at current level.

It doesn't have to be a completely different group.

Less than 1% of black market activity is taking place with bitcoin. Less than 1% of  Silicon Valley money is in bitcoin.

The next adopters could simply be more black market participants and more techies.

The next adopters who already might be doing it are terrorists and hackers,

who would request ransom to be paid in bitcoins. I could see it happening soon.

Bitcoin would be perfect for them. I just hope it doesn't happen though.

If that happens then the goverment will has to put some limitations and rules for bitcoin. But I don't think so that they can. They will definitely be putting a bad name to the currency.

Ransom requests have been paid in fiat money always and nobody complains about it, however you're right on this because the ww media could repeat the same news again and again and again for 3 or 4 years as they did with SR.

https://www.cryptocoinsnews.com/mathias-sundin-worlds-first-bitcoin-political-parliament-candidate/

Like this politician, others will collect money for their campaigns in very near future. They can create tipping system like ChangeTip or they don't have to do that, they can use ChangeTip to have tips for representing them as a parliament member, mayor or whatever they wanna be.

No need for more adopters, just more fiat money pumping out from central banks around the world will keep it afloat

Just curious, when was the last time you traveled in Africa?

Most young people I have met in Africa, are literate, own several phones including a smart phone. They are already sending money over the phones with MPesa.

My youngest wife lives in Africa and she is paid via MPesa, she sends money to her parents with MPesa, she pays her electric bill with MPesa.

Where did you learn about Africa...from old national geographic magazines?

Can't believe someone saying this.

Anyways, I think the best sort of adoption seen in the last few days is the tipping system using Changetip.
Looks like a perfect way to tip with any denomination.

Unbanked people are not only in africa, they are all around the world.

Big money; mutual funds, billionaires, institutional investors of all kinds.  That'll push the price past $10,000.     

I think the next adopters will be all people... :P ...just people like you and me...

If you ask me who are the next adopters with huge amount of funds... then it's wallstreet/investors that will buy the Bitcoin ETFs.

ya.ya.yo!

I think that the Mafia and other illegal trades can use this kind of "NEW" money with large volume!!!!!!

all other normal people use btc under legality...

Where have you seen this Franky?  On the forums here?

-Corrupted officials. Bitcoin is ideal for bribing: nobody can prove you've received the bribe, nobody can confiscate it.
-Gray market aka D-system.
-The second wave of Chinese investors.
-Pron, gambling.

EDIT:
-"Wall-Street". Not necessarily US. Maybe European or Asian. And not necessarily professional investors, but retail investors.

People with mobile device and paid salary with BTC.

Russians and Argentinians.

Those people are not much of the new adopters.
And I don't think companies will force the employees to accept their salary in bitcoin.
Atleast, if I was working in one, I wouldn't want it.

Some discussion from this thread ended up in my thread:

https://bitcointalk.org/index.php?topic=880088.msg9717627#msg9717627

I think the community needs to spur growth. We're at a point where bitcoin is largely being used for consumables. What can we do to change this? Have honest members of the forum read my paper yet on setting up some very basic legal structures?

It should not be who will be next? But what can we do to reach this group of people or that group of people? And people have largely done that enthused about the currency. I'm not trying to be a hater. Sorry.

lol,
I was wondering, why you are insulting someone in your thread, that most likely wouldn't even read it there.

Argentinians? LOL of course we are not! If after 40% of inflation this year our subforum is dead.

I guess in your perfect politically correct nirvana over there in Europe, conflation of debate-in-search-of-truth with personal-insult is common category error. I certainly wouldn't be politically correct over there. I am reminded of where Armstrong says in his Forecaster documentary movie at a dinner table, that Americans are super polite now (because of fear of the 98% conviction rate and prosecution of almost any action as a crime).

If your reaction is because I have been harsh on you, I don't think I was intentionally harsh rather just forceful on the facts, but if I was it was because of your condescending and smug attitude towards me in the prior thread. My assumption is you took my forceful arguments personally and decided you needed to make an example of me. I think it is sometimes unavoidable in passioned debate.

P.S. I didn't realize you had quoted him cross thread until I had already submitted my reply.

this is really incredidible!!!

100 gain in January and I can buy for 100 ..
in December and I can gain 100 comprareper 60

but how about salaries???

i don't think salaries increase 40%/year!

No, it depends on several things but the short answer is NO salaries don't increase 40%/year. In fact, if you are a lucky employee and get a 30% you have another problem because given you salary is higher than before you have to pay more taxes. So, you are poorer and poorer but the goverment treats you as if you are richer every year.

This is not because the gov only, big merchants and companies are guilty too.
   

Oh! we have a 40% inflation because the Argentinian peso is backed in US dollar so, with $100 pesos in January you can buy U$ 10 then, in December with $100 you can buy U$ 6. However US dollar also looses value between January and December  >:(

That is the awesomeness of having an inflationary currency backed by another inflationary currency.

I guess there will be some big startups from the community.

I would argue that the massive inflation that the Argentina peso saw this year that more people would buy and use bitcoin in order to protect themselves from further inflation. 

I think the next Bitcoin adopters are people from third world countries and those emergent economies that only recently approached the internet technology, which to some of them may still an astonishing novelty but they surely comprehended what kind of leap in the quality of life it offers and I bet they already understood how Bitcoin can make their life better.

The only problem with that is teaching everyone how to use it. I guess, companies who plan to make money with that would do so.

Cam Adult Industry will be next

Why did you dig this thread up from December 2014? ;D

You could be right with your answer to the question in the OP title but I'm wondering why you dug this up from so long ago. My answer to the original question would be financial services, venture capitalists or stocks & shares traders.

Banks and politicians :). Perhaps they are not interested in bitcoin itself but very much interested in copying the technology. BTW the G7 just indicated that they want to turn up with some sort of regulation for bitcoin.

Yes they seem to be using it as a way to appeal to the younger generation.
How many politicians do we have now that accept btc? 3?

Porn industry, different businesses worldwide, Wall Street once ETFs get allowed, than will folow ordinary people, followed by some banks!

Pretty much everybody is what I wish for! :)

I only know Rand Paul. Who are the other 2?

this is a really good question. I don't know. I think the next adopters would completely depend on the first killer app based on bitcoin. Whatever area that killer app is in, that's the people it'll bring in.

After something is created, is working fine and everyone has a free access to it you can't really choose your target group. You can't limit bitcoin to be accessed first by specific groups of people.
Money is the magnet, if people would see that they  can earn money from bitcoin - they will come - create satellite bitcoin services and markets. But what good comes from services when there are no users to use them?

More and more online retailers (just like we saw with Paypal) which will catapult general public adoption.

I think there will be a greater adoption from people living in countries with relatively weak or unstable currencies / developing nations.  The black market would be another, but I think it has already been adopted there.

International travelers if we could just get a Bitcoin ATM in every major International Airport.

Right next to these guys of course:
https://www.travelex.com/rates

Chinese traders. Again.   :)

hmm how about..... porn artists and whole people in the industry?

i think next is bussiness company next is employer..
black market is the first adopters for anonymous transaction..

Brazil and south american markets maybe, numbers are showing growth and they have a need for solid currency.

third world countries really need something like bitcoin. it would be a logical step for them to adopt bitcoin as it is basically a bank in your pocket without the need to open a bank account.

Yea I get a lot traffic on youtube and my sites from Brazil but also from central Asia.
These could be the next adopters.

Just imagine the huge amount of transactions this would generate.. Especially from those that rather not charge their credit card with porn..

I hope not criminal. I hope to see big businesses accept bitcoin. Then we can see government using bitcoin near future.

Right now it's still in the early development phase where geeks and futurists are taking interest  and others will just see BTC as an investing tool. Luckily with the reach of the internet this thing has potential to everyone uses it' in just few years time.

Maybe famous people, it will bring a lot people/the fans.


It will big, but its usefulness is not good.


I hope more country will using/make it legal. There are some country which make it a legal and make it an illegal.

imho porn and gaming industry - basically two of the top web users these days.

*porn because of anonymity, convince and fast adoption of new technologies.

*games because of raising e-sport (streaming, tournaments) and possible replacement of premium content and tokens with bitcoin

general public will start adoption, once it will be really popular on web and integrated almost everywhere.

It is already happening.  Countries in Asia like the Philippines and Indonesia seem to be adopting bitcoin, and they have lower regulatory implications.  Cambodia would be another great spot for bitcoin.  It's the only place that I've traveled to where they would rather take USD than their national currency.

Yeah it would be great for source of income for young kids that are tech savvy, that could potentially make bitcoin online while they're still not able to work legally.

If we take all internet users as a target market for Bitcoin, we are in the early adopter stage ,this same type of discussion was happening about facebook/myspace when when social media began. "Why would I want this?" and see now as we are

well i dont know but would be good if supermarkets and online stores like amazon started accepting it :D would be cool to buy stuff with bitcoin

You need to buy some product on Amazon? You should try https://purse.io/
In my country there are supermarket which support bitcoin, they use it for top up, you can check this: https://bitcointalk.org/index.php?topic=567458.0 a lot merchant accept bitcoin in Bali.

Yeah, I was thinking something similar. There needs to be an app or something that makes bitcoin easy and accessible for the non-techie users out there.
Kinda like Circle for example, but better.

Humans and robots.

For me its clear that the next batch adopters will be young people active in social media, they will realize that to receive payments for their social media shenanigans it's clearly better to use BTC. The occasional irl merchant will follow as well.