What bitcoin adoption really is.

[Kez1817]

If bitcoin will become use to buy our daily needs  without question mark and Using it freely like how we can use fiat money but without the control of the government,that is bitcoin adoption for me. We have different view and opinion about it but we do not have to argue as long as our goal is for the good of bitcoin for all of us.We should accept and respect everyone's opinion.

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[Janation]

The biggest thing is that no one will ever be able to cheat with Bitcoin.

But people are using it to cheat.

Cheat I mean do some illegal transactions, scam other people, I don't know if there are but even money laundering. That is how they use to cheat Bitcoin. You know why Bitcoin because it is close to being anonymous. And in some parts of this world, that is the reason why the adoption of Bitcoin is slow, heck, it might not happen but we all know it will, it will happen.

[FlightyPouch]

I guess I would say that it is adopted if we are not really asking questions like this. We don't ask whether people actually know bitcoin or anything like that, it is accepted by anyone and any stores in the world no questions asked.

[LogitechMouse]

Let's look at bitcoin from a store of value perspective. How would a new store of value adoption look like? What is the measure of it?
Just two things:
1. Accessibility, convenience of buying and selling bitcoin.
2. Level of people's trust (most important)

1. There are some exchanges and sites where we can considered as convenient where we can buy and sell Bitcoin there. With regards to accessibility, as long as you have an internet connection, an app to be used/site and you know the basics of buying and selling then you can have access on it.

2. Back in the old days people are using a paper when they are trading and on that note, there is an agreement that the paper is worth X amount of X.
When fiat has been introduced, people have trusted the paper currency and they agreed that the paper has a value of X.
Same with Crypto. You must trust the coin itself or you will not use it ever and not using it may affect the adoption of it.

[taufik123]

If bitcoin will become use to buy our daily needs  without question mark and Using it freely like how we can use fiat money but without the control of the government,that is bitcoin adoption for me. We have different view and opinion about it but we do not have to argue as long as our goal is for the good of bitcoin for all of us.We should accept and respect everyone's opinion.

Without government control, such bitcoin adoption would have a bad impact on the economy, especially on FIAT. The correct adoption of bitcoin is with regulations set by the government. There must be someone who regulates it so that it won't become a problem that will destroy the country's economy itself.

[Findingnemo]

The biggest thing is that no one will ever be able to cheat with Bitcoin.

But people are using it to cheat.

Cheat I mean do some illegal transactions, scam other people, I don't know if there are but even money laundering. That is how they use to cheat Bitcoin. You know why Bitcoin because it is close to being anonymous. And in some parts of this world, that is the reason why the adoption of Bitcoin is slow, heck, it might not happen but we all know it will, it will happen.

It will be easier to find the people who are laundering the money if governments regulates the cryptos as a money because once there was a transaction made then it is impossible to remove it from the blockchain.But yeah it has value so it can be used for illegal purpose but as bitcoin it is impossible to counterfeit it or enters into someone's wallet without their private keys gives better edge over the fiat.

[dimastegar]

2. Level of people's trust (most important)

Literally, the Bitcoin Price is determined by traders all over the world who conduct trading activities on all exchanges. The price of Bitcoin exists because the Bitcoin network continues to grow as more and more people invest in Bitcoin to deposit value. Well, the adoption of Bitcoin as an asset for investment is of utmost importance.

[Janation]

The biggest thing is that no one will ever be able to cheat with Bitcoin.

But people are using it to cheat.

Cheat I mean do some illegal transactions, scam other people, I don't know if there are but even money laundering. That is how they use to cheat Bitcoin. You know why Bitcoin because it is close to being anonymous. And in some parts of this world, that is the reason why the adoption of Bitcoin is slow, heck, it might not happen but we all know it will, it will happen.

It will be easier to find the people who are laundering the money if governments regulates the cryptos as a money because once there was a transaction made then it is impossible to remove it from the blockchain.But yeah it has value so it can be used for illegal purpose but as bitcoin it is impossible to counterfeit it or enters into someone's wallet without their private keys gives better edge over the fiat.

The problem here is that there are ways for these people to be untraceable.

Scammers and hackers in the past did it so that they would be untraceable. By using mixer, that Bitcoins used to launder the money will just be gone. There are still ways to track them but unless they are stupid enough to leave some traces, it will not be that hard. Some countries regulated Bitcoin so that they could protect those people using it in their country but the adoption there is still not that great.

[bayu7adi]

Hi, every currency, or more specifically digital currency actually has some advantages and disadvantages. So the existence of different types of digital currencies is to complement the features that economic players want.
For international transactions, credit cards are easily accepted. At least you know that credit cards in an era like this are very prone to hacks. Carders are very good at hunting someone's CC data which will be used for shopping without the knowledge of the credit card owner.
Then, transactions on the deep web or other transactions that concern someone's privacy, of course we really need a wallet that concerns privacy too. This is bitcoin-owned land, where creating a wallet is not difficult and sending it even without banking intermediaries.
So in essence, when bitcoin is still recognized as a medium of transaction, then bitcoin is still needed as money works

[ichi]

Variation isn't generally required for bitcoin on the grounds that it can uphold itself and not required for the legislature in its activity. Be that as it may, the issue is those people manhandling the bitcoin framework. This is the place where the legislature could accomplish something by actualizing rules and guidelines required for the security of the buyers. This is the place where cryptographic money couldn't be utilized in its maximum capacity since it will get concentrated in a manner being controlled by an incorporated framework like the government.

[Smartprofit]

It seems to me that bitcoin will be the best asset to invest in because all other assets are worse than it.

1.Commercial real estate has value when the global economy is booming.  

2. Gold is a very good investment asset.  However, gold is difficult to store, it is difficult to organize its transportation.  

3. Interest rates on deposits in banks are below the inflation rate.  The banks themselves are unreliable.  

4. The stock market is overheated.  

5. National currencies are depreciating due to high inflation.

People will buy Bitcoin in order not to lose their money (to preserve their capital).  At the same time, the price of Bitcoin will rise.  The rise in the price of Bitcoin will make it an even more attractive investment.

This will ensure that Bitcoin is accepted first as a store of value and then as a medium of exchange.

[OrgonePyramid]

will be the worlds store of value

[ice098]

The biggest thing is that no one will ever be able to cheat with Bitcoin.

But people are using it to cheat.

Cheat I mean do some illegal transactions, scam other people, I don't know if there are but even money laundering. That is how they use to cheat Bitcoin. You know why Bitcoin because it is close to being anonymous. And in some parts of this world, that is the reason why the adoption of Bitcoin is slow, heck, it might not happen but we all know it will, it will happen.

Being cashless in terms of payment is good, it is just sad that they uses the name of bitcoin in wrong way, that's why it creates bad impressions to many people. but let us consider that no all the country all over the world has an internet connection. bitcoin and other altcoin can only be use with internet connection so having no internet connection can be the hindrance to mass adoption.

[bearexin]

The adoption of bitcoin is actually about a new financial system, a developed economic future. This is how I understand it.

And it shouldn’t be a system that will be limited due to people storing too much of it. There should be more of it circulating than being stored away, that’s not good for the Bitcoin, it will be affecting the BTC wrongly.

It’s not wrong to make use of Bitcoin mainly for transactions, that’s why it was made in the first place, so people can use it for that. And I think it will even be better if there are many bitcoins being used mainly for transactions than when they are just being bought up in bulks by whales and stored away. Being used for transactions will benefit the community more than when it’s being put away. Just my own piece though.

[peter0425]

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.

Adoption happens from those we come to encourage inside the forum and market,some of them are Wanted to buy and Hold(though hesitant) and others are here to gamble as this forum has the finest online casinos in the world.
while others are just bounty hunting that seeking for a chance that 1 day they will find a Mine of gold inside the projects.

[Emmychris]

Talking about trust, bitcoin has the potentials to make anyone who comes across it and know how it works will surely trust and hold on to bitcoin, it's value keeps increasing and even if it drops it still bounced back, the problem with adoption is that government are against bitcoin because it can't be controlled by anyone, and there see it as a threat, and also many people around the world haven't got to know about bitcoin.

[bayu7adi]

Many people say that bitcoin is not used as a medium of exchange and that's true, it's not convenient to use it because transactions are slow and fees are high for small purchases. People don't use bitcoin to buy stuff, people use fiat because it's more convenient, right? We have so many really good mediums of exchange, does bitcoin need to be one of them and compete with them? Hell no.

So actually the adoption of Bitcoin for shops, restaurants or cafes is pointless, because Bitcoin was not created to compete with FIAT in terms of transaction speed at the cashier. That's right, it is impossible for us to pay for $ 2 coffee using bitcoin which will at least charge a network fee of $ 5 - $ 10.

And if the most important point is trust, then someone who uses Bitcoin as a tool to make money online, must be raised to the surface, this of course will be a promotional medium to gain the trust of new people (who don't know about Bitcoin). That way, the level of public trust will increase as they become literate in understanding the ecosystem related to Bitcoin.

[pragna]

Trust is the main value of bitcoin.

Its characteristics and usefulness is not at all questionable in fact I create an entire industry called cryptocurrencies.

Adoption should not be a goal of bitcoin, it should be transformation revolution. And so it must be received.

I think yes, trust is only fact for BTC nothing else as it has no physical existence. But the technology that uses BTC that helps to everyone to believe on BTC so that market going up day by day. The growing market that is really adaptable for market and hope it will continue with high speed.

thanks.

[mezzaluna]

Bitcoin has unique properties that no other asset has, I believe that these properties are the real value of bitcoin. Bitcoin does not need to be backed by anything except its properties. I believe that the main bitcoin purpose is a store of value. Many people say that bitcoin is not used as a medium of exchange and that's true, it's not convenient to use it because transactions are slow and fees are high for small purchases. People don't use bitcoin to buy stuff, people use fiat because it's more convenient, right? We have so many really good mediums of exchange, does bitcoin need to be one of them and compete with them? Hell no.

Let's look at bitcoin from a store of value perspective. How would a new store of value adoption look like? What is the measure of it?
Just two things:
1. Accessibility, convenience of buying and selling bitcoin.
2. Level of people's trust (most important)

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 being convenient to use along with its transparency is one of the best thing that a currency can have as a trait. It would also be possible that with people's trust, the supply and demand for Bitcoin can be determined greater and as long as people keep using it, the tendency for it to be further developed and be adopted will be greater.

[Golftech]

Trust is the main value of bitcoin.

Its characteristics and usefulness is not at all questionable in fact I create an entire industry called cryptocurrencies.

Adoption should not be a goal of bitcoin, it should be transformation revolution. And so it must be received.

I think yes, trust is only fact for BTC nothing else as it has no physical existence. But the technology that uses BTC that helps to everyone to believe on BTC so that market going up day by day. The growing market that is really adaptable for market and hope it will continue with high speed.

thanks.

People are finding ways to transact freely and that's how bitcoin works, no limitations if you'll going to deal with peer to peer.
There are people who loves how bitcoin works now, after this pandemic transferring or transacting using this system are being
acknowledge by people who learned the benefits.