Bitcoin Massadoption - Is it ready?

[fishbonez11]

Bitcoin is still at its early stage and mass adaptation is not yet possible. Knowing that Bitcoin is an internet currency, we can't expect everyone to be in since there are still large number of people who doesn't have access or has access but not good enough to handle this kind of system. I believe that we are going and nearing to mass adaptation since we are seeing large companies and institutions coming in. Few years from now, that would be possible.

[Shasha80]

If you look at the increasing popularity of Bitcoin, mass adoption should be ready to happen. But as told by the opening post,
most people find it difficult to understand about Bitcoin. Maybe because blockchain technology is still sophisticated,  it is difficult
for some people to understand it. The conclusion is Bitcoin mass adoption will occur with a long process, because it requires a lot of
education to ordinary people. Especially for people who do not understand technology.

[msarro]

It's not totally ready some of the countries see it as threat but some big company like Paypal already accepted cryptocurrency and some big investors look forward to the potential of the blockchain and cryptocurrency, we can say that this could be the start of the Bitcoin's mass adoption.

[kryptqnick]

The delay in transactions is not due to the high price, but do to network overload with transactions. It can happen both when the price is high, and when the price is low. Whatever triggers peole to make more transactions works here.
As for the complexity of Bitcoin, I don't think it's a problem. Of course, understanding all of the specifics of how Bitcoin works is difficult, but so is tons of other stuff we have a vague understanding of, but use without hesitation (laptops, microwave ovens, cars etc.). And understanding Bitcoin on a basic level that allows using it and avoiding dangers is not that hard.
But it is true that there are serious adoption challenges nevertheless, and I think that as of today Bitcoin is simply not ready for mass adoption. Even a small town switching fully to Bitcoin for a day would probably trigger a collapse due to too many transactions being stuck and the fees hitting ATH.

[irixo10]

Mass adoption will take a long time but it is really achievable. I don't think we can really talk about Bitcoin mass adoption without bringing in the human factor, that is, are we humans ready for it? Are we ready to know about it and are we ready to give the neccessary supports? This is the main question that needs to be answered. Going this way, many have heard about Bitcoin but yet to make a move maybe because of doubt, many are yet to hear about it maybe because they haven't come across anyone knowledgeable enough to explain everything to them. So in every aspect, we can't talk about Bitcoin mass adoption without making more people to understand the importance of it and potential it holds. If you also check carefully, you will realise that, top organisations are busy implementing Bitcoin services in order to serve their users well, but another question is, why aren't more people using Bitcoin in their startup shops, it still brings us to understanding it.
So in my own opinion, until more people are ready for it and ready to know about it, mass adoption will still take a long time.

[20kevin20]

"Bitcoin is complex" argument has no merits at all. Everything else people are using in their day to day lives is complicated, some of them are even far more complex than bitcoin. For example the computer you are using, the operating system, ... is very complicated and yet millions of people are using it every day some of them don't even know what an OS is let alone know how it works.
Bitcoin is just new and being new is scary to some people so they claim it is "complex". Otherwise why would regular users want to know how bitcoin works when they don't care about how everything else works?

It is way more complex than more convenient ways such as creating a PayPal or a bank account. When you have an easier alternative, you go for that one. It's why between purchasing a loaf of bread and baking one yourself, most people prefer the latter.

Otherwise, why are there so few people who know programming languages compared to the no. of people who are using computers? No. of Linux users vs Windows ones? People tend to go more after newbie/user-friendly stuff as a priority. Bitcoin is not an average Joe's priority because the average Joe doesn't need it yet. And when CBDCs go mainstream, it will become even harder to convince someone to get into BTC unless they truly care about freedom more than convenience.

When privacy and surveillance becomes a widespread issue and a significant number of people start acknowledging the need of a less-controlled and monitored life, Bitcoin might become a priority in their lives. But until then, unless people wake up to the reality (and I don't think they will, because the transition to a Surveillance State is so smooth you don't even notice), Bitcoin's complexity will be a blockage for mass adoption.

[XZERO1]

If we're talking about Bitcoin lightning network then I'd say it's definitely ready for mass adoption, but that's not the only thing that is needed for that.

Crypto after almost 12 years still is fairly new technology and many still don't have a clue about what they are and how they work, some of it is because most governments trying their best to not educate people on crypto so that they keep getting their share of profit out of their banks, we also have less educated people that will have a very hard time using Bitcoin on a daily basis to pay for stuff even if their use case is just limited to send and receive Bitcoin and knowing some other basic functions.

I'm not really sure, maybe crypto should step towards being even more beginner friendly which could ultimately help with mass adoption.

[Ridwan Fauzi]

First of all I'll say that most people noe using bitcoin as mean of investment, they still comfortable to using money as a mean of payment as you mentioned because the transaction fee and also its complicated to use. So as I just think that if many people tend and know how bitcoin can give them a lot of profit they will buy it as an investment place.

That is the important thing to be done, they having bitcoin by using their money and after they will be aware to find more information how to hold it safely. I don't care they use paypal and another platform because if they already know they will move it to the place that can be managed by themselve, no one who will know where they store their bitcoin. Some instutional who accept bitcoin (as we called as mass adoption) is good for bitcoin. At least the people who reluctant to having it will open their mind and start to using it.

[masyari]

Im not sure that real mass adoption for btc is possible without l2 or even l3 soltuions

[Tytanowy Janusz]

A central currency will only be possible if there is only one government which is close to impossible because China, Russia and US exists and they are both on a stalemate which is a good thing. I do not think that mass adoption will be the answer to the problem

Just one thing in here. I doubt that bitcoin will even become a global currency (never said that) but even if ... it will be not because of creation of "one government" as you said. It will be because people will just simply stop to use fiats and start using bitcoin. It will be after global reset and biggest crisis world even seen. We will have lack of trust in banks, luck of trust in governments.
Just like we have social media leader - Facebook - global firm, just like that we may have global currency - bitcoin. All bitcoin needs is people that don't believe in governments and toilet paper they print with fancy faces and call that money and let monkeys in the circle (aka us) fight for it on the street.

[enhu]

The popularity of  BTC help the cryptocurrency market but its not going to be easy for BTC  to get used as money for everyday use. What might happen in the  future  will be a lot strange than  what we expect  but there are glimpses that we can see by now knowing that the government is already developing digital fiat and China is already up to it.

Recently there is a news about EUR in on stellar blockchain and  it sure intended for its citizen to use. What adoption will be like is that we are all equal in having access to investments like BTC, DEFI and other coins.

[Altcoinsintel]

It is not ready for mass adoption and never was. If you want fees to rise to $100 then perhaps it will be. The adoption is from some funds that grayscale convinced to buy and from Venezuela that is trying to curb the sanctions and bypass the embargo. It won't be mass adopted for a method of transactions but will be used along with other cryptocurrencies when the fiat currency in any country suffers from hyper inflation.

[vaultman]

Yes, there is such a thing that for many people the blockchain is something incredibly difficult to understand. When I first encountered bitcoin, I also did not understand a lot, so I had to learn a lot of new information, after which I came to a clear understanding of what cryptocurrencies are and how to use them. For the majority of the world's population, a simplified version of a bitcoin wallet is needed, as PayPal has done. Users wrote that bitcoins on the PayPal wallet can only be stored and nothing else can be done with them. Thus, we can conclude that the introduction of a system of easy-to-understand bitcoin transfers will be a historic moment for bitcoin, as this will cause a great adaptation of bitcoin among the masses, which will definitely lead to a strong increase in its price.

[verita1]

I agree with OP.
I have also had your same concerns. As we are not all the same and the world shows you different nuances.
When more people want to have bitcoin they will resort to the easiest and most convenient method.
That is why PayPal took a step forward because it is a giant in the industry and it needs to continue to be. PayPal executives realized this and launched their app to maintain their niche and gain more users.

[Smartprofit]

Bitcoin is never going to fade away for many years to come but I doubt it will beat or eradicate fiat, in the next 20 years to come there will still be many people who will refuse to use bitcoin, mass adoption is going to take many years to atleast get better

The person that will surely refuse to learn Bitcoin or other crypto currency is the older person .it is hard for them to understand it mostly if you are not into technology which is understandable they are prefer to use Fiat instead of crypto currency. It is also harder for them to teach even you want since most of them will have a problem in their eye  sight and it's normal if you are older, other reason is they can easily be fooled unlike young people .

Even very elderly people can learn how to make Bitcoin transactions. Modern cryptocurrency wallets have an intuitive interface.

If elderly people (old people) know how to use a computer, then it will not be difficult for them to send a bitcoin transaction.

An example is the Electrum wallet. A very simple and convenient wallet.

It should not be forgotten that both banks and large Internet providers educate people on the use of financial software products. For example, digital payment cards are replacing traditional plastic bank cards.

[Lorokan]

Everyone using bitcoin for transactional payments in place of banks are the adoption that the blockchain has been emphasized on; so if everyone uses bitcoin; then it all makes it easy to do transactions involving payments either you are home or awayy. But bitcoin is not ready yet, with the influx in gas fee when theres congestion; there is certainly more to do.

[Twentyonepaylots]

Was kinda hopeful it was gonna happen last 2017, since bitcoin is still not that too high and is readily available for the people to take their chances on. Unfortunately I came into the harsh realization that thid may never happen soon, at least not in the next 10 years or so. Being an investor/trader myself, I don't want my assets to lose value, which is actually the first thing bitcoin must do in order to become a bonafide currency that everyone can use.

Everyone using bitcoin for transactional payments in place of banks are the adoption that the blockchain has been emphasized on; so if everyone uses bitcoin; then it all makes it easy to do transactions involving payments either you are home or awayy. But bitcoin is not ready yet, with the influx in gas fee when theres congestion; there is certainly more to do.

Not too many mind you, mainly for transactions that would require a great deal of security or anonymity that they'd rather pay a huge transaction fee than to reveal themselves in the public. So bitcoin is definitely being adopted, just slow and not something we expected of years ago.

[_Miracle]

"Bitcoin Massadoption - Is it ready?"

Not even close.
Let's ask the question again when all bitcoins are mined and people stop calling it "an investment".

[7788bitcoin]

"Bitcoin Massadoption - Is it ready?"

Not even close.
Let's ask the question again when all bitcoins are mined and people stop calling it "an investment".

Why do you want to wait till all the bitcoins are mined to get to that position. Hope you are aware that the development team is trying to fulfill what Satoshi started out and it is possible that we would see mass adoption if a solution is possible to send millions of transactions per day and the fees can be controlled.

Just imagine, an asset which is limited in nature and it has valuation. Do you think that people will not view that as an investment .

[Twinkledoe]

Was kinda hopeful it was gonna happen last 2017, since bitcoin is still not that too high and is readily available for the people to take their chances on. Unfortunately I came into the harsh realization that thid may never happen soon, at least not in the next 10 years or so. Being an investor/trader myself, I don't want my assets to lose value, which is actually the first thing bitcoin must do in order to become a bonafide currency that everyone can use.

Everyone using bitcoin for transactional payments in place of banks are the adoption that the blockchain has been emphasized on; so if everyone uses bitcoin; then it all makes it easy to do transactions involving payments either you are home or awayy. But bitcoin is not ready yet, with the influx in gas fee when theres congestion; there is certainly more to do.

Not too many mind you, mainly for transactions that would require a great deal of security or anonymity that they'd rather pay a huge transaction fee than to reveal themselves in the public. So bitcoin is definitely being adopted, just slow and not something we expected of years ago.

Bitcoin adoption has been happening for years already. But yes, it is not that massive but we are heading into that direction. Remember, bitcoin is just more than a decade in the market, whereas, fiat system has been here decades and decades already. So it is understandable that adoption is not that big yet. But with this pandemic, I believe the adoption is going stronger.