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[Coyster]

Bitcoin adoption continues...

It's absolutely continuing, I mean, all this announcements/news were big when we heard/read about them after they were published, but bringing them together in one thread somewhat exposes users to how many they actually are, and tbh, Bitcoin adoption has definitely improved in the past one year, thus that means mainstream adoption is a possibility somewhere down the road.

I don't think I'd be wrong to say the pandemic has had a lot to play in Bitcoins adoption in the last one year, I'm not saying it has been the sole factor, but the fall of traditional economies, inflation, plus government policies that society is still feeling the brunt of, and then the fact that Bitcoin was to a large extent unaffected by the pandemic and all, has allured quite a lot of people to the Bitcoin network, increasing their believe in the network as a possible "safe haven" (though it may not be there yet), and a hedge to devaluing fiat currencies.

[arallmuus]

Let's recall the main announcements in which bitcoin adoption appears

Great list. Im not sure but in the previous bull run on 2017/2018 was there any significant announcements for adoption like this ?

Bitcoin adoption has definitely improved in the past one year, thus that means mainstream adoption is a possibility somewhere down the road.
-snip
I don't think I'd be wrong to say the pandemic has had a lot to play in Bitcoins adoption in the last one year

One of the main reason would be the US 10 year treasury yield has been plummeting because of the pandemic. The yield was below average and the big ventures need to maintain their funds so crypto was one of the best choice. Some ventures probably maintain over 10 billion so taking 5% of it to put it into crypto for around 3x gain is a pretty good decision

[hello_good_sir]

Thanks for this. This is really useful.

This just shows how exponential the growth has been from an adoption perspective, and that is exactly what we like to see as it offers substance to back up the current bull run.

We should continue to see this sort of growth. Institutions are jumping on the opportunity to adopt bitcoin on a large scale more than ever. Retirement funds are moving, investment banks are moving, portfolio managers are moving... It's truly an alternative asset class that offers a low/negative Beta with the rest of the market.

[int03h]

Bitcoin is receiving active support from companies around the world. They choose Bitcoin and that's how Bitcoin enter the world economy. As companies hold Bitcoin, the state will have to make specific laws to regulate Bitcoin. That support will make Bitcoin expand its market share and increase its capitalization. That also means that the cryptocurrency market will be more active.

[cabron]

I really think it was introduced a long time ago when the exchanges started and the 3rd party that allows BTC to be converted to fiat money. This made the BTC available to the people to participate and treated Bitcoin as currency. But the biggest introduction that sparked everyone was when a legitimate and well-known company like Paypal and Visa allows users to buy and sell BTC. It made the impression of Bitcoin was being just used by criminals changed. It was a turning point that regular people tend to see Bitcoin be a real asset.

[StanleyBoyle]

Yes, very right. At least I realized that 70% of the assets are in cryptocurrency, and only 30% is used for daily expenses and some loan repayments. Since DEFI just started, some institutions have started When they entered the market one after another, the financial revolution had already begun.

[kryptqnick]

Thanks for compiling the list. It gives an overview of the developments, but I have a couple of things to note here. Firstly, it's comprised of positive news, but bad things that affect the image and adoption of Bitcoin are happening as well and are IMO equally important. I'm talking about Tesla stopping accepting Bitcoin, China restricting mining and things like this. Also, some news on the list are bullish but never came true, so they're speculative in nature, and their positive effect is only temporary. For instance, it seems that Airbnb never started accepting Bitcoin. And as for Bitcoin ATMs, they're still overwhelmingly in the US.

[davis196]

I read one article where it was said that in many European countries bitcoin ATMs are not popular due to the fact that the banks of those countries do not want to deal with the providers of these cryptomats.

I'm not an expert in this topic,but I think that Bitcoin ATMs can exist without any support coming from the banks.The main problem is the regulatory frame in most countries of the EU.
No business owner is going to invest hundreds of thousands dollars(or maybe millions) and face a possible ban after a few weeks.
Anyway,I'm not a big fan of the Bitcoin ATM business model.Bitcoin is created to be a truly digital online currency.There's no point of using ATMs.Using your smartphone or PC is way more convenient.

[Sanugarid]

Bitcoin is receiving active support from companies around the world. They choose Bitcoin and that's how Bitcoin enter the world economy. As companies hold Bitcoin, the state will have to make specific laws to regulate Bitcoin. That support will make Bitcoin expand its market share and increase its capitalization. That also means that the cryptocurrency market will be more active.

I think that the support from these companies are the second best thing that can happen to bitcoin because they can put in a lot of money to the market to drive the prices to go up, the biggest is still the support from the government because what's the point of having big pump in prices when the government bans it's use in the country.

[Sterbens]

Argentina Open To Adopting Bitcoin, Says President Alberto Fernandez

After El Salvador and Paraguay, Argentina was next in readiness for Bitcoin adoption. In an interview, the President of Argentina spoke about the possible adoption of Bitcoin at the state level. Since in bitcoin the inflationary effect is reduced to naught, then for Argentina the adoption of bitcoin will be an advantage, since inflation has been a big problem in the country for a long time.

In general, in Argentina, interest in cryptocurrencies has grown greatly in recent years. Bitcoin and stablecoins are popular among traders to help investors defend against devaluation of the local currency.

Argentina has experienced a major year-on-year economic downturn since early 2018, then there are 2 million cryptocurrencies there still active and the Argentine government is increasingly looking for ways to manage large amounts of finances and not harm inflation. On the other hand, Argentina dominates Bitcoin, Ethereum, and stablecoin crypto users.
Since the beginning of 2020, crypto users have increased a lot more than usual, coupled with the pandemic conditions they have all started to carry out massive attacks on crypto.

[arallmuus]

Many companies switched to cryptocurrencies to preserve the value of their capital

Its more like to squeeze some profit out of it just like what Tesla did but its all good as long as they keep on giving positive images about bitcoin for the mass

Bitcoin is receiving active support from companies around the world. They choose Bitcoin and that's how Bitcoin enter the world economy.

Its not really a 'support', its more of a give and take situation because sooner or later these companies that 'hold' bitcoin will have to sell it to get some profit from it. The obvious reason that most companies start to adopt bitcoin is to get in the hype train because most of these institution / companies believe that the current value for bitcoin is still a steal.

As companies hold Bitcoin, the state will have to make specific laws to regulate Bitcoin.

Or ban it, it can go either way.

[dothebeats]

Bitcoin has since gained traction on the news and on the adoption side as more and more people, companies, and governments recognize its potential to be a part of the working economy. I'm actually proud to see that small things such as that Coca Cola thing in NZ and Australia, and the taxi services in Germany were the ones to adopt crypto. It's these seemingly small things that normal people encounter everyday in their life that boosts bitcoin and crypto's popularity, as people will be curious to know more about what these things are. Add to that the growing number of companies and governments that are keenly interested in having some crypto-integration working on their platforms and services.

[Rruchi man]

I don't think I'd be wrong to say the pandemic has had a lot to play in Bitcoins adoption in the last one year, I'm not saying it has been the sole factor, but the fall of traditional economies, inflation, plus government policies that society is still feeling the brunt of, and then the fact that Bitcoin was to a large extent unaffected by the pandemic and all, has allured quite a lot of people to the Bitcoin network, increasing their believe in the network as a possible "safe haven" (though it may not be there yet), and a hedge to devaluing fiat currencies.

I agree with you. Despite the crashing economies, people’s perception towards bitcoin changed and this drove the value of bitcoin in 2020 up even as the pandemic ravaged the world. Big companies started to accept payments in Bitcoin and even some workers agreed to start receiving a portion of their income in bitcoin. More online casinos also added bitcoin as an option for new members when signing up. The pandemic changed everything. Soon it will be mainstream.

[Wind_FURY]

OP, I believe there’s another economy, that’s as important as the mainstream economy. The underground economy of the online dark markets. That’s where they truly need Bitcoin as the currency of their system. Without it, it would stop.

Revenues are also growing, https://www.secureworld.io/industry-news/record-profits-for-darknet-markets

[arallmuus]

An interesting idea, will such a precedent be further spread among other cities?

Only if there are some other donator that wish to sponsor this 'airdrop'. Its basically just giving free money to people but its seems The Mayor intention is to make the citizen as well as the city wealthier by holding those bitcoin. I thought that he will encourage his citizen to use bitcoin as some sort of internal money transfer or payment within the city ( not sure if this is against the law in Missouri )

“I believe that Cool Valley is going to get wealthier and wealthier , not just our city, but the actual people who live here,” said Stewart.

Although this step may be just PR on the theme of cryptocurrencies.

Well if it is then they made it right to the headlines though. Well this is a fantastic year for bitcoin overall because most people are hyping about 100k per bitcoin by the end of the year therefore alot of people / companies seems to be alot more interested with bitcoin recently


Anyway, I noticed small typing error in your post



Should be July 2021 instead

[Wind_FURY]

OP, I believe there’s another economy, that’s as important as the mainstream economy. The underground economy of the online dark markets. That’s where they truly need Bitcoin as the currency of their system. Without it, it would stop.

Revenues are also growing, https://www.secureworld.io/industry-news/record-profits-for-darknet-markets

It is not surprising that in the same 2020, the authorities of various countries began to work hard to close such marketplaces. The same DisrupTor operation, closing Empire Market, etc. Somewhere I read research on the fact that darknet marketplaces are less likely to use bitcoin as a means of payment.

Shower thought, is that good, or bad for the generally normal pleb/person in BitcoinTalk? I’m probably a permabull, but I believe it’s an important area of application for a protocol like Bitcoin as a censorship-resistant cryptocurrency.

[timerland]

Isn't it slightly ironic how all the CeFi providers are now singing a completely different tune after seeing how lucrative the bitcoin profits are?

It just goes to show how spineless they are. Some of them are even offering bitcoin trading without the option of depositing/withdrawing actual bitcoin which is absolutely insane - they are essentially disguising a derivatives product as a spot product without people knowing.

Bitcoin's success does not depend on the support of these platforms.

[Poker Player]

The truth is that with all the global adoption most of us expected the price to be much higher today. I guess we are in a delayed cycle, whoever sells now because they are discouraged with the price will probably have to buy at much higher prices in the future if they want to buy again. Somewhere I have read that Bitcoin is today at the same level of adoption as the Internet was in 1998-2000 approximately, and it seems to be so. The best is yet to come.