Coinbase CEO Says Bitcoin and Cryptocurrency Must Evolve to Reach Mass Adoption

[Sadlife]

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

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[spike420211]

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

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

[Midas111]

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

[eaLiTy]

^^  @Midas111 What are you talking about  .

He is clearly CEO not IT guy tho, its not that easy. You can scale things to some point but then you push boundaries for sacrifices only.
There is no perfect solution, thats why Bitcoin won't scale infinitely, layers two will be needed or Bitcoin will become/stay store of value at its core.

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

[finaleshot2016]

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

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

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

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

[Midas111]

^^  @Midas111 What are you talking about  .

He is clearly CEO not IT guy tho, its not that easy. You can scale things to some point but then you push boundaries for sacrifices only.
There is no perfect solution, thats why Bitcoin won't scale infinitely, layers two will be needed or Bitcoin will become/stay store of value at its core.

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

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

[Wawa2013]

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

[goldade]

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

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

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

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

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

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

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