How can Crypto be Good for Mass Adoption?

[Govardhan]

There will always be if and buts when it comes to something that's not in our control. Today we saw bitcoin breach the 17000$ mark for the first time since 2018.

Now this begs the question, How can crypto be good for mass adoption? How can an average person buy Bitcoin(/s) when the price reaches a newer level? Many people have enjoyed(or should I use the word earned) free crypto (please stop Denying), Many have mined, Staked, Bought at the lowest of prices and so on. How can it be any good for the mass adoption when only a few (in comparison to the people around the world who are not yet into Crypto) have the crypto currency just because they are a bit early into the scene.

Now, It's not that I'm against anything, But the real problem that no one seems to care about is how can the wealth be distributed equally among all so that people (irrespective of being late) enjoy all the benefits equally And the majority of the funds are not controlled by few individuals.


Wish Someone could have thought about it.

[jackg]

What are you expecting here? We cap the price at $20k?

If you're in Europe and haven't heard about crypto then you're probably waiting for your town to get electricity... There is an issue I think of people having large sums of btc much like large sums of fiat but it's likely going to be a hard issue to tackle and there may be enough circulating supply for wider adoption (otherwise a new coin can spring up).

But most people not in crypto now are mostly like that by choice, enough people seem to have heard of it.

[oktana]

I don't think there's anything to be early or late for. Bitcoin was created as a currency. Irrespective of what the price is, see beyond the price. The features of bitcoin are forever what they are. If there's any thing to worry about, I think it should be the volatility aspect.

[philipma1957]

There will always be if and buts when it comes to something that's not in our control. Today we saw bitcoin breach the 17000$ mark for the first time since 2018.

Now this begs the question, How can crypto be good for mass adoption? How can an average person buy Bitcoin(/s) when the price reaches a newer level? Many people have enjoyed(or should I use the word earned) free crypto (please stop Denying), Many have mined, Staked, Bought at the lowest of prices and so on. How can it be any good for the mass adoption when only a few (in comparison to the people around the world who are not yet into Crypto) have the crypto currency just because they are a bit early into the scene.

Now, It's not that I'm against anything, But the real problem that no one seems to care about is how can the wealth be distributed equally among all so that people (irrespective of being late) enjoy all the benefits equally And the majority of the funds are not controlled by few individuals.


Wish Someone could have thought about it.

You simply open a  set of 2 accounts

1) PayPal account and buy it.
2) Coinbase account and buy it.

[The Cryptovator]

How can you distribute equally? There are many peoples who hadn't meet with internet facilities in the world. How can you reach them? For those who don't believe in Bitcoin and the bitcoin price goes $100K then how will you convince him to buy Bitcoin. It's quite complicated for me to buy Bitcoin when BTC going high. But there are still peoples who have been buying and that's how Bitcoin price easing more.

Earlier investors always would be the gainer. For example, the land you bought before 10 years you will be on profits if you want to sell it now. We can't ignore this fact.

[uneng]

I think it's very fair that those who adopted bitcoin first make more profit than late adopters, because they trusted it when no one did an they took the risks with everyone against them.
They really should be *rewarded* for that.

On the other hand bitcoin isn't useful only as speculative currency. Late adopters can use it in many other ways even to invest online and as bitcoin becomes more popular there will be more services options for crypto enthusiasts to spend or invest their money. In comparison to fiat, bitcoin is more advantageous when investing, because it connects you to the world. So you can invest your money in a business that is on the another side of the world without leaving home or paying exorbitant taxes, for an example.

[Yaunfitda]

Now this begs the question, How can crypto be good for mass adoption? How can an average person buy Bitcoin(/s) when the price reaches a newer level? Many people have enjoyed(or should I use the word earned) free crypto (please stop Denying), Many have mined, Staked, Bought at the lowest of prices and so on. How can it be any good for the mass adoption when only a few (in comparison to the people around the world who are not yet into Crypto) have the crypto currency just because they are a bit early into the scene.

You can still buy bitcoin though, the thing with newbie is that they always thought that you need to buy 1 BTC immediately. Nope. You can simply #stack sats.

Now, It's not that I'm against anything, But the real problem that no one seems to care about is how can the wealth be distributed equally among all so that people (irrespective of being late) enjoy all the benefits equally And the majority of the funds are not controlled by few individuals.

That is your second issue, bitcoin is not meant to solve wealth inequalities. Not a magic bean to solve every financial problems around the world.

[Viscore]

It depends if that average person will buy Bitcoin because this is just like business( in fact, considered as an investment), if they are willing to buy Bitcoin they will find a way to make it happen.

Why we are good at Mass adoption?  The first place is, why we have created this technology? This is intended for future purposes, we are already in the internet era, more transactions process online and this is how Bitcoin taking part in the development which is very applicable to the situation we have now.

[Harlot]

I think you are asking the wrong question here since it is crypto that will benefit from mass adoption and not entirely about the masses benefiting from crypto. But if we go in that road I'll say if crypto is mass adopted then you can expect that people will have another mode of payment available through another form of asset which I think will help a lot when it comes to people having issues regarding the current existing one where you have expensive fees or the inconvenience of KYC.

[DooMAD]

How can an average person buy Bitcoin(/s) when the price reaches a newer level?

They'll simply buy smaller quantities.  At some point, people will start moving the decimal place and thinking in terms of fractions of a bitcoin.  People generally (unless they're rich) won't even think about buying whole bitcoins anymore.  It'll be unattainable for the average person.  Such is the nature of scarcity.

Many people have enjoyed(or should I use the word earned) free crypto (please stop Denying), Many have mined, Staked, Bought at the lowest of prices and so on. How can it be any good for the mass adoption when only a few (in comparison to the people around the world who are not yet into Crypto) have the crypto currency just because they are a bit early into the scene.

I've heard this argument before.  The counterargument given was that early adopters were taking a bigger gamble on an (at the time) highly obscure and nascent technology.  As such, they deserve to be rewarded for their foresight.  They invested time and/or money on something that might have gone nowhere.  In fact, due to the importance of network effects, if the early adopters hadn't done what they did, you might not even be here to nitpick now.

Now, It's not that I'm against anything, But the real problem that no one seems to care about is how can the wealth be distributed equally among all so that people (irrespective of being late) enjoy all the benefits equally

Assuming you use Bitcoin the way it was intended to be used, everyone does gain the same benefits.  The benefits are autonomy over your own wealth without having to rely on third parties.  No one who can block or restrict your transactions.  Noble as it might sound, I don't think equal distribution of wealth was on satoshi's todo list.

[Alert31]

Crypto or bitcoin for specific is very important nowadays not only for investment or as digital asset but also for payments and for fast transaction if you want to send money for your family, friends or even to other people. Mass adoption for crypto will bring it more useable specially in bitcoin which continuously improving as a digital currency not only having a higher value on the market. We can see now that in other country has already a lot of ATM machine that you can be use to for bitcoin transaction.