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Author Topic: This is how mass adoption looks like.  (Read 592 times)
Distinctin
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February 06, 2021, 01:54:19 PM
 #61

More ads, more market exposure bring Bitcoin into huge adoption. If I have Bitcoin and one store is accepting this, I don't bother myself to go far, converting my BTC to fiat just to buy stuff or anything, I surely stop down there.

We have this Bitcoin on the market for more than a decade, I think it was long enough to see its potentials and the store will consider accepting it. It really fits this time since most of us are wanting a cashless payment system.

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TheGreatPython
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February 07, 2021, 06:34:29 PM
 #62

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.
Sure we don’t need banks for mass adoption of Bitcoin, it’s something that is up to we as individuals, we can only do it by ourselves, we don’t need banks and Bitcoin was not created for banks , rather it was created for the people so that they manage their money by themselves without the help of banks. I look forward to seeing more of things like this, especially where I live, because it’s not really like this, it’s only traders and exchanges that you will see accepting Bitcoin or any cryptocurrency at all, you wouldn’t see shops where it is accepted.

Obito
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February 08, 2021, 09:35:57 AM
 #63

More ads, more market exposure bring Bitcoin into huge adoption. If I have Bitcoin and one store is accepting this, I don't bother myself to go far, converting my BTC to fiat just to buy stuff or anything, I surely stop down there.

We have this Bitcoin on the market for more than a decade, I think it was long enough to see its potentials and the store will consider accepting it. It really fits this time since most of us are wanting a cashless payment system.
The only problem I can see that this kind of store that accepts bitcoin is the prices are constantly and violently changing every minute. I do love the idea but we need the prices to stabilize in this one and I think that when that happens then maybe I can support it. I disagree with the store accepting cryptocurrency but don't get me wrong mass adoption is good thing, we have to be rational about the situation, price stabilization and then adoption.
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February 08, 2021, 10:12:37 AM
 #64

More ads, more market exposure bring Bitcoin into huge adoption. If I have Bitcoin and one store is accepting this, I don't bother myself to go far, converting my BTC to fiat just to buy stuff or anything, I surely stop down there.

We have this Bitcoin on the market for more than a decade, I think it was long enough to see its potentials and the store will consider accepting it. It really fits this time since most of us are wanting a cashless payment system.
The only problem I can see that this kind of store that accepts bitcoin is the prices are constantly and violently changing every minute. I do love the idea but we need the prices to stabilize in this one and I think that when that happens then maybe I can support it. I disagree with the store accepting cryptocurrency but don't get me wrong mass adoption is good thing, we have to be rational about the situation, price stabilization and then adoption.
It probably you can't expect price stabilization since the market price changes abruptly. Maybe we consider a stable price if we are using fiat but for this, you can't simply think about it.

We will be expecting more stores, establishments, and big companies are going to adopt crypto globally. That was more exciting to see and we can finally say that Bitcoin is the future currency that we've been discussed before, and we are coming near to that.
ubercool
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February 08, 2021, 10:48:23 AM
 #65

Three things comes to my mind when I see these type of discussions. Volatility, Fee structure, and the speed of tx.

Volatility is something not new to crypto users, we accept crypto thinking that eventually, the price will go up. The problem with this thought is that you need to have back up funds if the market gets into a correction and you have to buy more stock to run your business.

The Fee has to be put on the buyer, so unless it is less than 1-2% of the total transaction, most of the buyers will back out on paying through crypto.

The speed of the transaction is also an important factor as the tx has to be confirmed instantly or at least under a minute otherwise it will be harder for stores that have a crowd of customers.

I have seen stores accepting crypto, most of them prefer TRX, XRP, or LTC.

Also, we as a community have to start using crypto in transactions and not just hold them forever..  Roll Eyes
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