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Author Topic: This is how mass adoption looks like.  (Read 583 times)
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January 28, 2021, 04:19:42 PM
 #21

This is also the misconception I think with what happened last year. Many people are considering that it is adoption which was made by PayPal to accept cryptocurrencies but I guess it is not a total adoption simply because the amount of crypto, perhaps Bitcoin, will be converted to fiat in most of the transactions especially if the company or the counter part of that transaction is not open to cryptos as a medium. It is more likely a movement to regulate this technology through taxation in cryptotransactions which can't be done in a daily basis with this industry, wherein cryptos are mostly decentralized. What OP have mentioned is the real thing.



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January 28, 2021, 05:05:04 PM
 #22

I've seen several phone repair shops in my area that accepts bitcoin since 2018, and have continued to do so until now. The bigger shops however, wouldn't want to do this move just yet. Why? Probably because of regulations, and the complications it brings re: tax. Once the regulations, tax, and all the legalities and loopholes have been addressed, maybe that's the time we'll see more of this--hopefully--in the future.

It'll start with legalizing these things 'technically' before we get to see the boom into adopting it.

Wow, that's pretty amazing but you could please let us know how do they manage the huge fees bitcoiners have to pay to make a transaction ?
Phone repairs hardly take around $20 - $30 in my country. Paying around $4 as fees is about paying 14% of the total amount as fees.
How do those shopkeepers tackle this problem ?

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January 28, 2021, 05:13:35 PM
 #23

Making Bitcoin to be used in purchasing of goods and services is mass adoption, hence I believe you are right about what mass adoption is, and it is through this way that more people within that vicinity will be able to learn more about Bitcoin and other cryptocurrencies, because it will bring a burning questions within them, and also the advert is clear and captivating as well. Imagine what will happen when more businesses within that location starts accepting Bitcoin and cryptocurrencies as well, it means more people will be enlightened and more people will be brought into the crypto space. And also, another interesting fact is that, the business also accepts other cryptocurrencies thus making it easier for customers to pay with their desired coins.

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January 28, 2021, 05:30:21 PM
 #24


Mass adoption is not about banks, neither about instituional money.

This is mass adoption.
I just want to buy coal, eggs and chicken with bitcoin.


this is the way

Wow, a rather creative person created this))) Applauzes! lots of people just wait when different organizations will directly accept the BTC as the means of payment, while others without Internet have done it already without hesitation or lots of assets fir advertisement)) respect for those people. In my opinion in case the bigger amount of people wil do like this others will have no choice and just will have to adopt something like that in order not to loose their positions on the business or market space. While some wait others act.
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January 28, 2021, 05:37:31 PM
 #25

Absolutely right. People wait for the institutions to accept bitcoin and others as a payment method, but small retailers can begin this trend with such initiatives. As r/wallstreetbets did, bitcoin enthusiast retail vendors can begin to use bitcoin as an alternative payment method and it will be revolutionary.

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January 28, 2021, 07:20:44 PM
 #26

In here you can recharge your mobile with Bitcoin. I've seen in my area some local stores provide Bitcoin QR codes for mobile recharge, you can easily send Bitcoin by scanning the QR code. although they use Custodial p2p service for Bitcoin transactions as it avoids paying extra fees and becomes an instant transaction. Such initiatives are very effective for Bitcoin adoption and promotion.

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January 28, 2021, 07:23:32 PM
 #27

Looks cool Smiley

I wouldn't use Bitcoin, but Tron is entirely acceptable because of fees and speed. And I would have a separate wallet for small purchases as I don't want anybody to welcome me on a gunpoint for the rest of my coins.

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January 28, 2021, 07:32:44 PM
 #28

Now this is the kind of posts I want to see on this forum. Looks kinda unreal, you sure it isn't photoshopped?

I don't think I would spend my Bitcoin there if other places accept fiat. I mean it is obvious. As long as I get paid in fiat, there is no reason for me to spend BTC which appreciates in value at an average of 200%/year. Fiat on the other hand loses its value the more you keep it in your bank account.

This is the problem about Bitcoin adoption. As long as fiat exists in the current inflationary form and salaries are paid in fiat, the wise choice for people is to spend the dollars first.
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January 28, 2021, 11:09:26 PM
 #29

It is a good initiative for small businesses that accept bitcoin and cryptocurrencies in Brazil or anywhere in the world.

I did a tour of my city if any supermarket wanted to accept bitcoin and they did not accept that was a year ago before the pandemic. The impression I received was that the owners did not have any knowledge of how to handle bitcoin. I live in the south of the country and technological advances are not so good.

Following the topic of OP I have done a little search and found the following article published on December 21, 2018.

https://news.bitcoin.com/brazilian-supermarket-chain-now-accepts-payment-in-bitcoin/

It is not easy to find related information. It would be ideal for any developer to build an app that locates businesses that accept bitcoin and cryptocurrencies around the world. It could be a good invention of interest for users of cryptocurrencies.

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January 28, 2021, 11:22:36 PM
 #30

A great startup, this is what adoption is anyway amd should be. So seeing this honestly puts a smile on my face. The problem with the public's current views on how adoption works is that they forgot the usability department. They're all for everyone should have it and stuff like that but what really matters is that it's readily available and usable so the common joe can get into it as easy as entering a mall, not as hard as crossing the border.
Now this is the kind of posts I want to see on this forum. Looks kinda unreal, you sure it isn't photoshopped?

I don't think I would spend my Bitcoin there if other places accept fiat. I mean it is obvious. As long as I get paid in fiat, there is no reason for me to spend BTC which appreciates in value at an average of 200%/year. Fiat on the other hand loses its value the more you keep it in your bank account.

This is the problem about Bitcoin adoption. As long as fiat exists in the current inflationary form and salaries are paid in fiat, the wise choice for people is to spend the dollars first.
Pretty sure it isn't. Well, in order to inspire adoption we have to show people how convenient it is to use bitcoins over fiat, that includes using it for purchases over fiat currency which definitely is a tad bit expensive but if you're all for bitcoin's global adoption, then it should outweigh the prjce.
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January 28, 2021, 11:30:49 PM
 #31

We can't use bitcoin for mass adoption when there's no 3rd party application, simply because transaction fee is high and confirmation takes too long.

What we need is instant confirmation as people buying products does not want to waste their time waiting.
Why people are adopting in bitcoin or crypto for massive adoption is not because of its technology that is decentralized, because they are looking for a more convenient way and cheaper way of payment, and that is not present yet on crypto.

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January 28, 2021, 11:42:15 PM
 #32

I agree that the real mass adoption is with the many offline stores that accept Bitcoin and altcoins payments. As in the picture in the opening post,
I want to happen in my country, where I can buy daily necessities with Bitcoin. Even though it is very difficult it can happen in my country, because
right now my country's prohibits using Bitcoin as a means of payment. But I believe my country's rules regarding Bitcoin will change, if Bitcoin
becomes more popular and many countries start legalizing Bitcoin. For now I really have to be patient, because I can only use Bitcoin as a digital asset.

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January 30, 2021, 02:56:17 PM
 #33

We can't use bitcoin for mass adoption when there's no 3rd party application, simply because transaction fee is high and confirmation takes too long.

What we need is instant confirmation as people buying products does not want to waste their time waiting.
Why people are adopting in bitcoin or crypto for massive adoption is not because of its technology that is decentralized, because they are looking for a more convenient way and cheaper way of payment, and that is not present yet on crypto.

Businesses can implement Lightning Network. This way transactions are made in an instant and the fees are insignificant.
If you ask me it is quite convenient to pay in fiat as it is. I mean you just need to approach your card or your phone to the PoS and you're done. That's as straight-forward as it can get if you ask me.

The only thing that annoys me is that we need to trust a third-party entity to hold our money and facilitate payments. So for me, decentralization is the main selling point of Bitcoin in terms of making day-to-day payments.
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January 30, 2021, 03:13:18 PM
 #34

We can't use bitcoin for mass adoption when there's no 3rd party application, simply because transaction fee is high and confirmation takes too long.

What we need is instant confirmation as people buying products does not want to waste their time waiting.
Why people are adopting in bitcoin or crypto for massive adoption is not because of its technology that is decentralized, because they are looking for a more convenient way and cheaper way of payment, and that is not present yet on crypto.

Businesses can implement Lightning Network. This way transactions are made in an instant and the fees are insignificant.
If you ask me it is quite convenient to pay in fiat as it is. I mean you just need to approach your card or your phone to the PoS and you're done. That's as straight-forward as it can get if you ask me.

The only thing that annoys me is that we need to trust a third-party entity to hold our money and facilitate payments. So for me, decentralization is the main selling point of Bitcoin in terms of making day-to-day payments.
'coz that' s how regulation works in the first place, in contrast with decentralisation which is in nature of Bitcoin and most of the cryptos. In order to alter its nature, there would be a manipulation, which is in this case, regulation through third party networks. But regarding adoption, this technology is still questionable to countries still, not being certain of the actual reason but we just cannot force things. Let us be glad that this could be a huge step towards real adoption, wherein in such way, more people will be able to build trust accepting this kind of currency.

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January 30, 2021, 03:16:51 PM
 #35

We can't use bitcoin for mass adoption when there's no 3rd party application, simply because transaction fee is high and confirmation takes too long.

What we need is instant confirmation as people buying products does not want to waste their time waiting.
Why people are adopting in bitcoin or crypto for massive adoption is not because of its technology that is decentralized, because they are looking for a more convenient way and cheaper way of payment, and that is not present yet on crypto.
That is totally true. And I really think there aren't any crypto customers on a shop like that. Most people on these areas aren't crypto adopters and are informal workers, receiving their payments in cash. They won't deposit it at a bank, send the money to a third party service and convert it to bitcoin through an exchange to send btcs to the shop just to buy a cooking gas, wasting a lot of money in different fees from the beginning to the end of the process.

If citizens were receiving their wages in crypto currency, then it would be another story...

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January 30, 2021, 03:16:56 PM
 #36

Totally agree with your opinion. There is no false in your statement. We do not need banks or any institution to accept bitcoin in order to start a mass adoption. Few businesses implement bitcoin in their system will start a big revolution. However, it is hard to do this in my country since government's legislation do not accept bitcoin in any kind of payment

Brazil is absolutely a heaven to crypto lover. Love those banners
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January 30, 2021, 03:45:11 PM
 #37

since 2018, I dream of owning an accessories store using bitcoin payments. although until now this has not been achieved due to the lack of bitcoin users in my place, it is even very difficult to find those who actually own bitcoin. maybe you can count the number, about 10 people in my city who are really active bitcoin users. even here only my brother and I are involved in cryptocurrency and we still survive.

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February 04, 2021, 06:10:24 PM
 #38

I agree, mass adoption is something more useful and open for everyone. Everyone can buy in the market or everywhere just using digital currency. But that will only going to happen if government acknowledge the digital currency and accept it as a part of the financial system.
Some governments in the world have their own regulations and of course they will not be the same. For example, in my country in Indonesia, Bitcoin is only allowed as commodity trading and cannot be used as a means of payment because it is prohibited. Mass adoption will indeed provide benefits and provide more payment options, but the high voting has made several government governments disagree with it and further research is still being carried out.
Cryptocurrency and blockchain are becoming revolutionary future technologies that will change the way of transacting in new ways, but all require a process. Mass adoption cannot be done that easily, there is still some research to be done first.

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February 04, 2021, 06:25:16 PM
 #39

I agree, mass adoption is something more useful and open for everyone. Everyone can buy in the market or everywhere just using digital currency. But that will only going to happen if government acknowledge the digital currency and accept it as a part of the financial system.
Some governments in the world have their own regulations and of course they will not be the same. For example, in my country in Indonesia, Bitcoin is only allowed as commodity trading and cannot be used as a means of payment because it is prohibited. Mass adoption will indeed provide benefits and provide more payment options, but the high voting has made several government governments disagree with it and further research is still being carried out.
Cryptocurrency and blockchain are becoming revolutionary future technologies that will change the way of transacting in new ways, but all require a process. Mass adoption cannot be done that easily, there is still some research to be done first.

With the government involve I'm sure it's not going to be done easily when 3rd party payment method and CBDC also converting coins to digital fiat. What is being presented to us today is going to take part in what is coming in the future. There may be another 3rd party when it comes to buying items on grocery stores and another 3rd party when paying from wallet to bills.

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February 04, 2021, 09:17:24 PM
 #40

this is the kind of things we really want to see. if this dosent happen , then we are far from what we call adoption. untill bitcoin gets to the grassroot of every nation, adoption is still not achieved. when you can spend what you hold, its value will increase.
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