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Author Topic: What can we do to speed up Bitcoin mass adoption?  (Read 1481 times)
kawetsriyanto
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June 09, 2022, 11:15:10 PM
 #161

If Government is not in  support of bitcoin it can affect bitcoin, especially how to spend bitcoin. It will be rare for people to accept bitcoin as payment to buy somethings , maybe only those who are bitcoin lovers will accept bitcoin for payment. When government is not in support of bitcoin, bitcoin will be used just for investment mostly.
It happens in my country. You even cannot use Bitcoin for payment purposes at all. No one braves enough to accept Bitcoin because the laws don't allow it. If you try to pay for any goods or services with Bitcoin, you may be in trouble with the laws. In this situation, Bitcoin adoption for payment purposes is deadlocked (no way to try). The only way to use Bitcoin is for a digital asset, it is allowed. According to this situation, sure it is very clear that the government has a crucial role to speed up Bitcoin adoption.


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dataispower
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June 09, 2022, 11:27:30 PM
 #162

The most important thing to do to speed up the Bitcoin mass adoption is to get the world to acknowledge the importance of Bitcoin and its potential to revolutionise the world.Once it is acknowledged and legalised by governments,people might automatically start buying bitcoins.

We cannot depend upon the governments to do everything to make bitcoin legal and get people's awareness about bitcoin and cryptocurrencies.
If we want bitcoin to become a global currency, every one of us has to play a part in bitcoin's mass adoption and awareness. In order for us to speed up the bitcoin transactions, we can teach about bitcoin to the people in our surroundings.

If Government is not in  support of bitcoin it can affect bitcoin, especially how to spend bitcoin. It will be rare for people to accept bitcoin as payment to buy somethings , maybe only those who are bitcoin lovers will accept bitcoin for payment. When government is not in support of bitcoin, bitcoin will be used just for investment mostly.
Bitcoin is a decentralized currency which government has being opposing the development of bitcoin starting from the time it was developed and introduce or launched. The support bitcoin had today is not from the government but the individual's who values the currency and decide that the currency will exist and last. But most of us don't understand it that way that bitcoin till now it's not under the development or control of any country government. The investment of bitcoin is from people who cares for the development and who values it without much doubt
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June 09, 2022, 11:39:47 PM
 #163

The most important thing to do to speed up the Bitcoin mass adoption is to get the world to acknowledge the importance of Bitcoin and its potential to revolutionise the world.Once it is acknowledged and legalised by governments,people might automatically start buying bitcoins.

We cannot depend upon the governments to do everything to make bitcoin legal and get people's awareness about bitcoin and cryptocurrencies.
If we want bitcoin to become a global currency, every one of us has to play a part in bitcoin's mass adoption and awareness. In order for us to speed up the bitcoin transactions, we can teach about bitcoin to the people in our surroundings.

If Government is not in  support of bitcoin it can affect bitcoin, especially how to spend bitcoin. It will be rare for people to accept bitcoin as payment to buy somethings , maybe only those who are bitcoin lovers will accept bitcoin for payment. When government is not in support of bitcoin, bitcoin will be used just for investment mostly.
Bitcoin is a decentralized currency which government has being opposing the development of bitcoin starting from the time it was developed and introduce or launched. The support bitcoin had today is not from the government but the individual's who values the currency and decide that the currency will exist and last. But most of us don't understand it that way that bitcoin till now it's not under the development or control of any country government. The investment of bitcoin is from people who cares for the development and who values it without much doubt
They would really be opposing on what things that they cant control thats why its not surprising that they would really be having those kind of false ads or sentiments which would really be affecting bitcoin reputation

or in overall crypto space where those people who do have zero knowledge will definitely be ending up on having bad impressions about it.Getting faster in terms of adoption is something that shouldnt be hurried up.

Let the community grow because forcing will really be having no effect because people would be having their own perceptions and mindset or treatment towards it.

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TheGreatPython
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June 12, 2022, 05:05:47 PM
 #164

I believe that there are some that will not want to agree. Bitcoin can definitely exist without Government support as we have even seen over the years in most regions but once we start to look at Global adoption then I too believe the Government is important on that note. Look at what happened today with the sharp drop in Bitcoins price because of the talk about SEC's investigation into Binance and possibly the upcoming Crypto bill set to be introduced tomorrow. So we can see that the Government still has their influence on crypto generally so their backing for Bitcoin mass adoption. 
This is true that we need to actually have some sort of government support in order to keep it going with a high adoption rate. This is why we should not be really refraining to the point that we dislike government intervention. If we do that then we are not going to end up with any support at all and then all the crypto adoption would have to be on the behind the closed doors type.

So, in order to make this work, we need to pressure the politicians we elect to vote for crypto to be legal and also not have any high regulations neither, make it relaxed and taxed very little so that everyone would be able to invest into crypto without fear.

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June 13, 2022, 09:36:33 AM
 #165

In order to speed up the adoption of Bitcoin globally, IMO, the two major concerns are:(1) Education or Enlightenment, (2) Reducing poverty. These are two major areas that can quickly help to speed up the adoption of Bitcoin. The two have to be there to speed up adoption. People may have the money but may not have understood how Bitcoin works, or People may understand how it works, but no money to trade or even acquire transaction gadgets like smartphones, laptops, etc. I think these two areas are very major of which if critically tackled, could help to speed up the adoption of Bitcoin.

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