What bitcoin adoption really is.

[LUCKMCFLY]

There is a tangible reason that can be seen as a quick way to adopt bitcoin, and it is with countries with high inflation, since the local currency of countries with weak economies are the ones that have the most adoption today, such as the case of Venezuela, Argentina, where The volumes of Bitcoin purchases and sales at least at localbitcoins.com are very high, in fact for those who know about the technology they see bitcoin as safe savings.

[rathaha10]

More people believe that bitcoin has value, more valuable it becomes; that's a simple rule of a store of value. So, bitcoin adoption is in level of people's trust. The higher level of trust bitcoin has, more adopted it is. I think while bitcoin keeps its properties, it will earn people's trust and become more and more valuable. In 20 years, no one will ever doubt that it has value and the exchange rate will reflect it.

Bitcoin as a store of value is pure an added advantages of bitcoin because when you go through the official whitepaper of bitcoin as published by satoshi Nakamoto more than decade ago, the true purpose and value of bitcoin is a decentralized digital currency that give true freedom to people over their financial activities but sadly, majority only cares about bitcoin as a store of value in prder to gain when it experience price increase

[RealMalatesta]

Yes it can be a store of value, although I have seen people who argue that it can’t be a store of value.
It’s all about what you want to be using it for. But, as for me it can be a store of value and can as well be used for transactions.

As for using it as a store of value you will have to be ready to hold it for a long time just like you will do gold. If you’re going to be going short term, then it’s best that you go for it as a trader. And by the way did any of you see a news that was telling people to start selling their coins now ? Lol. I really don’t get why the media likes to put fear in people all the time, it’s really annoying.

[carlisle1]

Yes it can be a store of value, although I have seen people who argue that it can’t be a store of value.

From how we are seeing it right now, investors more likely hold this assets believing that the value will increase

even there's no specific time frame.

It’s all about what you want to be using it for. But, as for me it can be a store of value and can as well be used for transactions.

Yes! It's how the end users will take side, both ways can be done to this investment currency.

As for using it as a store of value you will have to be ready to hold it for a long time just like you will do gold. If you’re going to be going short term, then it’s best that you go for it as a trader.

You need to be patience if you are aiming to hold this assets, volatilities needs to be overcome to avoid losing much money and time.
Without patience you'll be losing your money in the short ride.

And by the way did any of you see a news that was telling people to start selling their coins now ? Lol. I really don’t get why the media likes to put fear in people all the time, it’s really annoying.

Big chance that those who are telling this to people either haters or people who wanted to enter with much
cheaper entries.

[shoreno]

Like Gold, even though the useful value of Gold in daily life is not much but the trust that people put on it is very strong and that lead its price raise gradually over time. And I think, Bitcoin in the future is also as well

gold is more useful than on bitcoin on a daily basis you can sell gold for money or make it to something or produce another product  .

there are demands for it but on btc people will think twice to spend it , its price is the reason why  but when it comes to trust both btc and gold have it .  i can say that trust on btc is more stronger than on gold because btc value is also more higher but who knows maybe gold can catch up in the future

[jademaxsuy]

There is a tangible reason that can be seen as a quick way to adopt bitcoin, and it is with countries with high inflation, since the local currency of countries with weak economies are the ones that have the most adoption today, such as the case of Venezuela, Argentina, where The volumes of Bitcoin purchases and sales at least at localbitcoins.com are very high, in fact for those who know about the technology they see bitcoin as safe savings.

Adaptation is not about for a.country to.solve the rise of inflation rate. Inflation rate could be solve by growing the economy of that certain country. Besides bitcoin has bad reputations on other side knowing that it has been tag from the scam activity. Bitcoin was being made as a medium or tool for scamming or doing fraud. Here in our place it is likely not being diacussed because the government has no interest but it is still open for greater opportunity. It just need some time for the government to realize the importance of.bitcoin system.

[witcher_sense]

Yes it can be a store of value, although I have seen people who argue that it can’t be a store of value.
It’s all about what you want to be using it for. But, as for me it can be a store of value and can as well be used for transactions.
~

Many people believe that bitcoin can't be decent store of value because of its high volatility, its price widely oscillates throughout a day. What it really means is that those many people are wrong. Volatility of bitcoin has been decreasing since the inception. The more people start using bitcoin, the less volatility it has. The less volatility it has, the more people start recognizing bitcoin as store of value, and vice versa. And so on. Until bitcoin price is stabilized forever. You can say that bitcoin is wholly adopted when it is no longer fascinating to speculate on bitcoin's price. It is very interesting to observe the formation of new type of money, decentralized programmable money. We have never seen that before, because gold was the only true money for a long time and now we have digital money that has the same characteristics. The only thing left is to make bitcoin adopted.

[JuSayCo]

There are statements that I somehow disagree. Because a lot of online shops accepted Bitcoin directly now, like amazon and eBay. And it can also be use on selected hotels or even donate on charititable institution. So you see, we can actually buy some stuffs online using Bitcoin and its features is so reliable and convenience especially in this Pandemic time. I guess, a lot of people now trusted so much on Bitcoin because it helps our lives to be more easier dealing our financial transactions with the comfort of our home.

[peter0425]

There are statements that I somehow disagree. Because a lot of online shops accepted Bitcoin directly now, like amazon and eBay. And it can also be use on selected hotels or even donate on charitable institution. So you see, we can actually buy some stuffs online using Bitcoin and its features is so reliable and convenience especially in this Pandemic time. I guess, a lot of people now trusted so much on Bitcoin because it helps our lives to be more easier dealing our financial transactions with the comfort of our home.

This already creates its own identity.

ANd there are many adoptions coming from online businesses, so yes I agree with your statement
this adoptions is really ongoing and we more and more newcomers and businesses to adopt and
start using it both by means of investment and payment process.

[Sapphire915]

Bitcoin is also good for purchasing things we want, that is why there is already existing establishment that allows bitcoin as payment, they know how good and convenient the use of mobile devices as our wallet for payment. Fiat currency is good for daily expenses because bitcoin cannot use to buy small things or cheap prices, using fiat will be good for that. Maybe there are some things that will be suited for the bitcoin as payment.

You are very much right. Bitcoin can only be used on selected establishments that accepted it. It cannot be used on our daily spending, like buying goods in the market. Fiat will always be the traditional way of doing that.
I believe that the people who trusted so much on Bitcoin and believe its store value and convenient features are of course those people who lives in the city and same as the businesses that are mostly online and highly digital.

[Betwrong]

Bitcoin is also good for purchasing things we want, that is why there is already existing establishment that allows bitcoin as payment, they know how good and convenient the use of mobile devices as our wallet for payment. Fiat currency is good for daily expenses because bitcoin cannot use to buy small things or cheap prices, using fiat will be good for that. Maybe there are some things that will be suited for the bitcoin as payment.

You are very much right. Bitcoin can only be used on selected establishments that accepted it. It cannot be used on our daily spending, like buying goods in the market. Fiat will always be the traditional way of doing that.
I believe that the people who trusted so much on Bitcoin and believe its store value and convenient features are of course those people who lives in the city and same as the businesses that are mostly online and highly digital.

Wait, but isn't that what's happening now: cities become bigger and denser because more and more people have been moving there, and more and more businesses have been going online? And the process has started long before the current pandemic, and will not stop when the pandemic is over. I believe that in the near future buying goods and services with BTC will be not only possible (in fact, it was proved to be possible long time ago, when Laszlo Hanyecz bought 2 pizzas for 10,000 BTC), but millions and millions of people will be doing just that.

[bitcoinisbest]

Bitcoin is also good for purchasing things we want, that is why there is already existing establishment that allows bitcoin as payment, they know how good and convenient the use of mobile devices as our wallet for payment. Fiat currency is good for daily expenses because bitcoin cannot use to buy small things or cheap prices, using fiat will be good for that. Maybe there are some things that will be suited for the bitcoin as payment.

You are very much right. Bitcoin can only be used on selected establishments that accepted it. It cannot be used on our daily spending, like buying goods in the market. Fiat will always be the traditional way of doing that.
I believe that the people who trusted so much on Bitcoin and believe its store value and convenient features are of course those people who lives in the city and same as the businesses that are mostly online and highly digital.

The problem for the merchants to starts accepting the bitcoin as a payment is that in certain countries it is still neither accepted nor banned. So, in order till the clarification is made people do not want to make it a hassle and land in trouble unnecessarily. Thus, the bitcoin adoption in buying/selling across globe is very less. Hopefully in coming years we will be able to buy stuff with bitcoin a s payment option for many of our daily needs in many countries.

[Janation]

There are statements that I somehow disagree. Because a lot of online shops accepted Bitcoin directly now, like amazon and eBay. And it can also be use on selected hotels or even donate on charititable institution. So you see, we can actually buy some stuffs online using Bitcoin and its features is so reliable and convenience especially in this Pandemic time. I guess, a lot of people now trusted so much on Bitcoin because it helps our lives to be more easier dealing our financial transactions with the comfort of our home.

Local exchanges are also used during these lockdowns.

Some of the transactions I've made these lockdowns are through these local exchanges using Bitcoin or Ethereum to pay. It is convinient and very easy but the problem is that it is limited to certain platforms. I just hope that some platforms also accepted so that people could use more Bitcoin or other cryptocurrencies or just use these local or mobile payments to reduce the contamination of the virus. 

[Rafiqul]

Bitcoin works for a variety of purposes, most people use Bitcoin as a digital asset, they use it as a medium for investing and transacting. Many recipients nowadays hear about bitcoin and invest thinking that they will get rich in a few months; But with the rise and fall of Bitcoin prices, in reality, many have suffered losses in a short period of time; However, it should be invested for the purpose of long-term investment. While Fiat is better at making small purchases or transactions than Bitcoin, large ones are more convenient to use in Bitcoin. I have personally used Bitcoin as a medium of investment and transaction.

[BuNga_cute]

Bitcoin adoption based on my opinion is that Bitcoin has started to be trusted by many people to be used as a means of payment.
But everyone must have their own opinion regarding Bitcoin adoption. We should not have to debate which opinion which is true,
as long as the goal is positive in my opinion there is no need to question it.

[Yamifoud]

Bitcoin adoption based on my opinion is that Bitcoin has started to be trusted by many people to be used as a means of payment.
But everyone must have their own opinion regarding Bitcoin adoption. We should not have to debate which opinion which is true,
as long as the goal is positive in my opinion there is no need to question it.

That's exactly, we are here for a reason and we want to promote crypto space as a new form of payment. However, many people had mistakenly understood it because of what they heard about scamming and fraud. We can have this Bitcoin fully adopted once we all done with the doubts but openly see the best and possible benefits that we will get from this new technology.

Anyway, will that to say that Bitcoin adoptions take time, not just a year or a decade but, it is more than that as what we imagine. We can certainly think that people will all adopt bitcoin for a reason and it depends on what it is in their mind, the same thing as not all people used USD.

[bitbunnny]

I don't think that there are any offical figures about Bitcoin adoption. Everything is based on subjective impression and evaluation but according to that the level of real acceptance is quite low. In the future that might change but the whole process is going rather slow and somehow I have the feeling that Bitcoin isn't following the path of other new technologies that penetrate much faster into our society.

[plvbob0070]

Bitcoin adoption based on my opinion is that Bitcoin has started to be trusted by many people to be used as a means of payment.
But everyone must have their own opinion regarding Bitcoin adoption. We should not have to debate which opinion which is true,
as long as the goal is positive in my opinion there is no need to question it.

That's exactly, we are here for a reason and we want to promote crypto space as a new form of payment. However, many people had mistakenly understood it because of what they heard about scamming and fraud. We can have this Bitcoin fully adopted once we all done with the doubts but openly see the best and possible benefits that we will get from this new technology.

Anyway, will that to say that Bitcoin adoptions take time, not just a year or a decade but, it is more than that as what we imagine. We can certainly think that people will all adopt bitcoin for a reason and it depends on what it is in their mind, the same thing as not all people used USD.

Bitcoin has grown trust from people over the past years, it just shows that people need enough knowledge and understanding about bitcoin to fully realize what bitcoin can do, either for payment, as a store value, or any other benefits of bitcoin.

Doubts about bitcoin are inevitable since scamming a and fraud will always be there. But even with people doubting bitcoin, I believe that we can still achieve mass adoption. And I also agree that we just need enough time for mass adoption since we are still at the beginning of it.

[AjithBtc]

Store keeper : What you want
Me : One pocket milk powder
Store keeper : It is here, anything more?
Me : That's enough.
Store keeper : Scan my BTC Address and pay it.
Me : Bill paid
Store keeper : Received and thank you.

When this conversation happens with each and every store without looking for an alternate. The store keeper asking whether you're paying with cash, card, wallet or any other needs to change as scan the address and pay it. This is what the adoption of bitcoin reaching the base level.

[SANihal02]

All the money in the world means money, dollars or any currency has a regulatory body. This work is usually done by the government. But you would be surprised to know that Bitcoin has no such company. Bitcoin is entirely public. No one controls Bitcoin. Bitcoin continues to do its own thing. When you have bitcoin, this bitcoin will work just like the valuables you keep in your house. With Bitcoin you can send money anywhere. Bitcoin will reach the recipient within minutes of processing. The biggest thing is that no one will ever be able to cheat with Bitcoin.