Adoption! Finally?

[RapTarX]

IMO holding bitcoin 100% counts as adoption.

I don't agree with this. A curreny can only be a real currency when it has acceptance. Holding isn't acceptance, as well as there's not much acceptance of bitcoin. There are 700billion people around the world and majority percent of people must have accept it as currency, otherwise, it doesn't fulfill the requirements of a currency. There are only a little percent of country where bitcoin is widely accepted, others are far away from it.

[1715626382]

1715626382

[BITDV]

IMO holding bitcoin 100% counts as adoption.

You're buying and holding an asset you think will appreciate due to it's qualities. You don't need to be trading or buying with it to count towards the "adoption metric".

Holding bitcoin/crypto is not a true adoption, it's investing. Adoption is something that can create a value, ecosystem and will bring more value. Adoption mean, people using crypto and use it as business utility, make value for crypto.

It just like you adopt a dog, in your home you just keep it. Not make an environtment, not care about your dog, not feed your dog. is it will make your dog bigger? not, your dog will die, you just keep and not feed it, play with it.

In other case : you make a token, and then just keep in. Not building platform not create ecosystem, so why people need to buy your token? what's the diffrent with trashcoin?

[Red-Apple]

IMO holding bitcoin 100% counts as adoption.

I don't agree with this. A curreny can only be a real currency when it has acceptance. Holding isn't acceptance, as well as there's not much acceptance of bitcoin. There are 700billion people around the world and majority percent of people must have accept it as currency, otherwise, it doesn't fulfill the requirements of a currency. There are only a little percent of country where bitcoin is widely accepted, others are far away from it.

in certain scenarios you could consider "holding" to be actual adoption.

first of all i completely agree with what you said about a currency, that is how bitcoin should be treated and that is the only case we can call adoption. but the problem is that there still aren't that many places that accept bitcoin as payment. so for example even if i believe in bitcoin as a currency and want to spend it, i still can't do it in 99% of cases. so my only option is to dump my fiat for bitcoin and continue accumulating and holding bitcoin until that changes. which it is changing but slowly.

[Carlton Banks]

Let's push for Bitcoin adoption and not for Alt coin or GovCoin or Blockchain tech adoption. 

that problem takes care of itself, really


Any coin not backed with sufficient hashrate and accumulated proof of work isn't resistant to gangsters stealing people's money. No demand for that kind of money, unsuprisingly.

So businesses who think it's easy to start a cryptocurrency simply don't yet understand this tech and this market. Which means you'd be unwise to shop with them anyway, why reward or encourage behavior that's not smart?

[Lucius]

Bitcoin is legal as a means of payment in Japan from April 2017, but since then adoption didn't take too much momentum there. However, legislation has made it possible for many people to accept Bitcoin in their day-to-day business. One thing is for sure, you won't be hungry or thirsty in some parts of Japan if you have BTC in your wallet, there are a number of cafes and restaurants that accepts crypto.

If we look number of places that accept BTC in Tokyo and the surrounding area we can see that there are over 100 places that are crypto friendly, but fact is that Tokyo is have almost 14 million people and it is one of the biggest city in the world.



https://coinmap.org/#/world/34.49750272/144.07470703/6

[kryptqnick]

Well, two examples out of three come from Japan, and this country is particularly welcoming with cryptocurrencies compared to other countries. Moreover, cryptos are not property/securities or whatever else, Bitcoin is legal tender. So they recognise it as money. Not everything is great there for crypto businesses, though, because if I remember correctly the taxes are not very favourable.
Anyway, returning to the question of adoption, it seems to me that it's still too early to day whether cryptocurrencies will receive global adoption or just to something enthusiasts and traders use.

[mk4]

IMO holding bitcoin 100% counts as adoption.

I don't agree with this. A curreny can only be a real currency when it has acceptance. Holding isn't acceptance, as well as there's not much acceptance of bitcoin. There are 700billion people around the world and majority percent of people must have accept it as currency, otherwise, it doesn't fulfill the requirements of a currency. There are only a little percent of country where bitcoin is widely accepted, others are far away from it.

IMO holding bitcoin 100% counts as adoption.

You're buying and holding an asset you think will appreciate due to it's qualities. You don't need to be trading or buying with it to count towards the "adoption metric".

Holding bitcoin/crypto is not a true adoption, it's investing. Adoption is something that can create a value, ecosystem and will bring more value. Adoption mean, people using crypto and use it as business utility, make value for crypto.

Well, holding definitely doesn't fulfill the currency use case of bitcoin, but I'd say it counts as "adoption" for the SoV/digital gold aspect of bitcoin. If people buy it to store they money into bitcoin instead of banks(as a hedge against fiat), I'd say that's still a good thing regardless if they use it as a currency or not. Holding money into bitcoin, while mostly being done for investing and speculatory purposes, just like how people store money into gold for hedging purposes, but not necessarily for investment purposes.

One of my recent quotes lately(that's slightly relevant to this topic): "Bitcoin isn't a get rich quick scheme, it's a don't get poor slowly scheme." -Jameson Lopp

[pinkpanther03]

Well,bitcoin adoption in Japan is going very well,but what about other countries.
Having massive bitcoin adoption in ONE country doesn't mean that bitcoin is getting adopted everywhere in the world.It's well known that Rakuten is a crypto-friendly company so it's no surprise that they are launching a crypto exchange.
By the way,the title of your thread is pure clickbait.

You really have a point on this matter sir, in fact here in my country we already had an exchange in which are registered under SEC(security exchange commission) and approved by the BSP(banko sentral ng Pilipinas) but still  majority of the citizens here are still not aware about bitcoin.

[hv_]

Hodling -> selling to greater fools is not (healthy) adoption.

Use is.

Scarcity is not enough, it is needed, but not everything

Gold has lots of different use cases, so it got to the 4000y old 'store of value'.

[Artemis3]

We have lately been seeing a lot of big names dipping their fingers into the sweet profitable sauce through Bitcoin's variations and tasting it nicely these days. Names coming out are some of the highly used apps in terms of daily consumption of data through their customers over these apps:

- Japan's Messaging giant Line launches an in-built crypto exchange for their 80M userbase.

- Telegram raised $1.7 billion for its TON token development and released code recently as well as Coinbase is considering on adding it to their exchange.

- Japan's Retail Giant, also known as the "Amazon of Japan", Rakuten has officially launched a crypto exchange where they have now allowed spot trading services to their 850M customers.

And many more...

Still need anything more to believe that Bitcoin is actually being adopted worldwide and everyone has now started taking advantage of this old-yet-highly addictive global cryptocurrency (asset) already?

Finally, something great is gonna come to us, Bitcoiners.

What has the Telegram and Line altcoins anything to do with Bitcoin adoption?

Japan adopted Bitcoin before any other country, long before any company decided to push for their own altcoin. I do not believe in altcoin promotion as a vehicle for Bitcoin, it does to a lesser extent, but it also misleads people especially when they fail, and fail most of them will...

Your pompous thread title would have fit when Japan allowed the usage of bitcoin for payments, but not for these late comers.

[fiulpro]

We are working and receiving payments in bitcoins plus all these campaigns and people here are actually all who have adopted Bitcoins but it does gains a lot more weight when these big companies finally plan on giving bitcoins the appreciation they deserve .
This is a great list , kinda makes your hopes go up .
Also at the same time bitcoins logo has been seen on the players tee and more and more people are taking interest in it ...
Now kids gonna ask their mom's ..what does that logo means and this is the kind of thing that might affect the next generation .

[error08]

No doubt about bitcoin adoption in Japan since the government allows it, more exchanger like Rakuten joins the party is a good thing for sure.
But it's a different story in other countries, not all of them regulate bitcoin as a legal payment method due to some flaws and risk, look at bitcoin's ETF.
One thing for bitcoin mass adoption; only if the government state we can transact bitcoin on a daily basis such as in Japan, it still a long way to go for us who live outside those bitcoin-friendly countries.

[Lizzylove1]

Some persons are waiting for their government signal to tell them that bitcoin is the way to go in this and next generation, I am scared they might have loss too much before their government finally speak out, they just might have loss out much from what we are enjoying. More tech giants will follow the step of Gram.

[Pab]

Adoption is going to be a long-term process like it was with the telephone and internet. Of course that big companies with large userbases represent great advancements in terms of adoption indeed. However there is still a long way to go. My take is that the biggest "target" for Bitcoin and cryptocurrencies are the unbanked peoplew which are billions. As a friend said there are more people with access to internet than access to potable water.

I agree with you.Adoption needs to take time.News about Rakuten are great.Japan did his paper work regarding cryptocurrencies .USA did not still USA is not so much friendly to crypto but Bakkt is launching.I count much more on Bakkt E-Commerce than his futures. Futures are only about trading and price e-commerce is about real use

[serjent05]

Ehh. While new exchanges are always good for better competition, new exchanges != adoption; in my opinion at least. In the case of Line's built-in crypto exchange, it's probably just another 'feature' of the app that most non-crypto people are going to ignore. Though I'm definitely not complaining, if anything, this just gives more legitimacy to bitcoin or cryptocurrencies to those "bitcoin is a scam" people, but it definitely doesn't guarantee adoption.

I see it the other way though.  Once a person or a company uses a technology, it is adoption for me.  Whether they wanted to take advantage of the technology or the potential profit it may bring, once a technology is embraced and implemented it is an adoption.

And we both agree in a certain degree that these institutional company that "adopted" (possibly added in your term, referring to the bolded one)  Bitcoin will help prove that Bitcoin is not a scam.  Anything that can clear the doubts of the masses towards Bitcoin is a good move IMHO.

Some persons are waiting for their government signal to tell them that bitcoin is the way to go in this and next generation, I am scared they might have loss too much before their government finally speak out, they just might have loss out much from what we are enjoying. More tech giants will follow the step of Gram.

Indeed with these institution embracing Bitcoin and approval of financial institution for sure those who have doubt in Bitcoins may acknowledge that Bitcoin is not a scam.

[Prettyme]

I knew Japan knows the capabilities of Blockchain and they are the first to be taking advantage of it. With more adoption happening in the parts of asia, more people might be able to adopt Bitcoin as asia is the largest continent in the world. Even those people with financial problem might get a chance to be free. We might get to see someday that those countries who banned cryptocurrency will use it.

Yes youre right asia is the biggest continent and expected that bitcoin will be more popular in countries of asia. They will never adopt bitcoin if they dont see the potentials of it. Japan is a modernized and a developed country they know what they do in terms of their economy so i think japan notice the value of bitcoin thats why they wers now adopting it.

[fullhdpixel]

Once bitcoin gets adoption from these big countries, then the remaining ones is very little, I have seen many big projects that has started using cryptocurrency and some even developing their like the ones you mentioned, and if they were not being supported by the government, they would not have gotten to the stage of boldly making their intention know to the public.

Bitcoin is just starting to grow now and I believe that we will still have many other big projects that we are not hearing of no, also start their own cryptocurrency development. The funny part of the adoption is that even musicians that are popularly known are beginning to create their own crypto too and they are advising it without the fear of government, crypto has really come to stay.

[ethereumhunter]

can we really consider these as "adoption"? sure they are helping the adoption but to me the term means when people start using bitcoin. for example what happened in Japan where you can actual shops in the cities accepting bitcoin as payment.

these articles are mostly talking about big names wanting to make profit from the volume that already exist from traders. and the second article is not even related to bitcoin, it is another fundraising!

I'm with you too because adoption totally is still far. We are seeing people who have found bitcoin as an area of investment and they are buying hugely, leveraging on its volatility.

The adoption is still on the process, and I think that is trying to reach people from over the world. People who are joined in the bitcoin world, use bitcoin as the investment, a new way of making money, and they are trying to introduce bitcoin to other people. That will be great if that action can be done in other places because that will help bitcoin to grow more.

[Mulann2]

Especially when big companies start making use of btc to pay staff salaries or buy company goods or services with btc then the real adoption would be taken place, for the btc awareness is gradually increasing, more will come as time passes, I think satoshi will agree with what btc have achieved so far.

[vladimirhf]

The common ground for all to use bitcoin is the mobile phones, almost the entire population in the world uses phones and since these developments like telegram and LINE is now developing their project, its sure to be a good sign for adoption. Its a gradual adoption though which isn't making an impression for users who are new to crypto. They expect quick changes but the prices going to the different direction.

Will make a big difference when smartphones' operation systems start coming with cryptocurrency wallets by default, and I think this day is near. The adoption may be so fast as the adoption of the smartphone happened. According to the news, the phone sales have been decreasing, they have reached a stagnation point. Prices need to fall, it's the only way to reach and connect more people.