What's preventing bitcoin from worldwide adoption?

[shogun47]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

[1713531829]

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[1713531829]

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[theCommittalist]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

[shogun47]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

As much as I would like to let you know that I fully agree, the issue with what you just said is that it is unrealistic for Bitcoin to develop into its own economic system without any tax burdens whatsoever. I would rather say that whatever generates income is taxable (under most circumstances). If Bitcoin makes you income, a tax applies. I don't think a world would work out properly without taxes. There was an interesting sentence a while ago about the rich saying they are fine with higher taxes and carry a heavier burden than the poor. Then it was added that the state donation account was just in the thousands. If the millionaires and billionaires are fine with higher taxes, why not just send money to that state controlled donation account? In a sense it is the same when I am fine with higher tax, I can either pay higher tax or impose a tax on myself through donations that I commit to. Yet that account is usually literally empty. People aren't going to support public goods the way we wish they were. Economic self-interest isn't bad per se, but it needs moderation and coordination. Tax is a tool to achieve that. I am not saying I am all for taxes in whatever form they occur, but I don't see how an economic system would support a social system without taxation requirements.

[theCommittalist]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

As much as I would like to let you know that I fully agree, the issue with what you just said is that it is unrealistic for Bitcoin to develop into its own economic system without any tax burdens whatsoever. I would rather say that whatever generates income is taxable (under most circumstances). If Bitcoin makes you income, a tax applies. I don't think a world would work out properly without taxes. There was an interesting sentence a while ago about the rich saying they are fine with higher taxes and carry a heavier burden than the poor. Then it was added that the state donation account was just in the thousands. If the millionaires and billionaires are fine with higher taxes, why not just send money to that state controlled donation account? In a sense it is the same when I am fine with higher tax, I can either pay higher tax or impose a tax on myself through donations that I commit to. Yet that account is usually literally empty. People aren't going to support public goods the way we wish they were. Economic self-interest isn't bad per se, but it needs moderation and coordination. Tax is a tool to achieve that. I am not saying I am all for taxes in whatever form they occur, but I don't see how an economic system would support a social system without taxation requirements.

Sure they can tax associated income as you say in the form of capital gains or whatever, but my broad point still stands. Bitcoin itself as a standalone thing, unlike any other currency, cannot be claimed & thus taxed by a state agency. It relies on the internet & belongs to the users. Think about a state agency claiming jurisdiction over the internet & trying to tax Bitcoin like they do national currencies, I think that is unrealistic.

[Newlifebtc]

cash is king. doesn't matter the country, if it's physical and can pass from a persons hand to another and can't be tracked.
what is better?
I think the countries that have blocked it show a very good reason why crypto isn't going to replace cash, until it can truly replicate cash.

cryptocurrency is a cash but the problem is that people did not understand the usefulness of cryptocurrency whatever cash can purchase cryptocurrency can equally purchase it but why people ignore cryptocurrency is that they feel that it is a short way of using for embezzlement of funds so that is why the document cryptocurrency to be legalised or to be adopted generally

[asimi.io]

All the referred to points had been preventing bitcoin from international adoption. Vicinity and the salary is a great deal worried in relation to the low adoption. Anywhere those who earn desirable to are into bitcoin utilization while the relaxation simply desire to make investments, however they were not capable of do it for extraordinary reasons. As stated in one of the quote, 1/2 the world populace is residing with an incomes of less than a dollar. For them what we are speak me approximately is a ways.

[shogun47]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

As much as I would like to let you know that I fully agree, the issue with what you just said is that it is unrealistic for Bitcoin to develop into its own economic system without any tax burdens whatsoever. I would rather say that whatever generates income is taxable (under most circumstances). If Bitcoin makes you income, a tax applies. I don't think a world would work out properly without taxes. There was an interesting sentence a while ago about the rich saying they are fine with higher taxes and carry a heavier burden than the poor. Then it was added that the state donation account was just in the thousands. If the millionaires and billionaires are fine with higher taxes, why not just send money to that state controlled donation account? In a sense it is the same when I am fine with higher tax, I can either pay higher tax or impose a tax on myself through donations that I commit to. Yet that account is usually literally empty. People aren't going to support public goods the way we wish they were. Economic self-interest isn't bad per se, but it needs moderation and coordination. Tax is a tool to achieve that. I am not saying I am all for taxes in whatever form they occur, but I don't see how an economic system would support a social system without taxation requirements.

Sure they can tax associated income as you say in the form of capital gains or whatever, but my broad point still stands. Bitcoin itself as a standalone thing, unlike any other currency, cannot be claimed & thus taxed by a state agency. It relies on the internet & belongs to the users. Think about a state agency claiming jurisdiction over the internet & trying to tax Bitcoin like they do national currencies, I think that is unrealistic.

I totally get what you are saying and I am not arguing against your point from a theoretical perspective. The reality, however, will turn out to be quite different. Before the governments forego any significant tax income, they would rather build cross boarder alliances in order to set up a tax regime that ensures nobody can get away with amassing wealth while not paying any tax.

Please elaborate further once more for me: so you say that when I buy Bitcoin at 10,000 a piece, and I use that Bitcoin to buy a car for 20,000 a piece, should I, according to your viewpoint, be taxed by my government or not? Could you give one or two examples when you think a tax should apply and when not?

[theCommittalist]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

As much as I would like to let you know that I fully agree, the issue with what you just said is that it is unrealistic for Bitcoin to develop into its own economic system without any tax burdens whatsoever. I would rather say that whatever generates income is taxable (under most circumstances). If Bitcoin makes you income, a tax applies. I don't think a world would work out properly without taxes. There was an interesting sentence a while ago about the rich saying they are fine with higher taxes and carry a heavier burden than the poor. Then it was added that the state donation account was just in the thousands. If the millionaires and billionaires are fine with higher taxes, why not just send money to that state controlled donation account? In a sense it is the same when I am fine with higher tax, I can either pay higher tax or impose a tax on myself through donations that I commit to. Yet that account is usually literally empty. People aren't going to support public goods the way we wish they were. Economic self-interest isn't bad per se, but it needs moderation and coordination. Tax is a tool to achieve that. I am not saying I am all for taxes in whatever form they occur, but I don't see how an economic system would support a social system without taxation requirements.

Sure they can tax associated income as you say in the form of capital gains or whatever, but my broad point still stands. Bitcoin itself as a standalone thing, unlike any other currency, cannot be claimed & thus taxed by a state agency. It relies on the internet & belongs to the users. Think about a state agency claiming jurisdiction over the internet & trying to tax Bitcoin like they do national currencies, I think that is unrealistic.

I totally get what you are saying and I am not arguing against your point from a theoretical perspective. The reality, however, will turn out to be quite different. Before the governments forego any significant tax income, they would rather build cross boarder alliances in order to set up a tax regime that ensures nobody can get away with amassing wealth while not paying any tax.

Please elaborate further once more for me: so you say that when I buy Bitcoin at 10,000 a piece, and I use that Bitcoin to buy a car for 20,000 a piece, should I, according to your viewpoint, be taxed by my government or not? Could you give one or two examples when you think a tax should apply and when not?

Simply put, if two traders anywhere on earth decide to buy/sell a car in Bitcoin, then they cannot be taxed. The caveat I am trying to add is that once people establish a business based in one or another national jurisdiction doing this then they can be taxed. Also, once people trade their Bitcoin in for any national currency the state agency responsible may impose income or capital gains tax on that. But as long as Bitcoin remains Bitcoin & in the hands of private individuals it cannot & should not be taxed. From my understanding the logic of taxation is that in partaking of a national economy & its exchange medium or currency you are using a service & there is an implied cost. The amount & kind of taxation that is acceptable will probably be the stuff of intense debate for all posterity. But to tax Bitcoin as is you would have to be the centrist state agency ruling over its jurisdiction which is the internet hence it is able to be 'decentralised'. I am not saying that state agencies would never be able to extort or steal Bitcoin & call it taxation because unfortunately anything is possible, but that it will never transparently become standard practice overall because it is contrary to legitimate authority & unethical. This is why the established 'international order' & crony capitalists & their state media have been sidestepping BTC until lately when they have started throwing all manner of kind of childish FUD its way. They don't understand it. It scares them. The opportunity for universal profiteering is unprecedented & the sleepers & party poopers are being forced to reveal themselves 

[Vaskiy]

The adoption of bitcoin is taking place all around. But the level of adoption is happening in a much slower phase due to the opposition from the governments. Slowly some countries that made bans over cryptocurrency have started to regulate the usage of bitcoin. However some countries have made it a difficult thing for the common people using cryptocurrencies. Heavy taxation too can affect the adoption.

Once after the pandemic the usage of cryptocurrency all around the world have increased. This has happened in terms of real-time usage as well as in terms of trading volume increase. During the same time period India was recorded to have the increase of 100 million users. I'm not sure of this data, but the 30% tax on cryptocurrency as well as 1% tax per transaction have slump the trading volume on the Indian cryptocurrency exchanges. The law came into effect on 1st July and since then the average trading volumes have come down to $5.6million from the range of $9.5million.

[coupable]

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

I find it a good example when you compare the situation of Bitcoin with that of hemp, where it has been demonized since its appearance and given greater responsibilities than it is, such as that it contributes to the responsibility for the global warming of the planet, forgetting the industries that produce a huge amount of carbon dioxide and how criminals and money launderers use it as if other currencies did not They are used for the same purposes. Cannabis has for decades been shunned as a narcotic that corrupts minds, forgetting its properties as a medicinally beneficial plant, which has made it a profitable commodity in the hands of gangs, criminals and all outlaws. And just as we started almost a decade ago to return cannabis to the white market and benefit from it in regulated legal frameworks, Bitcoin has already begun the journey to surface legally after the journey of demonization.

[Lanatsa]

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

I find it a good example when you compare the situation of Bitcoin with that of hemp, where it has been demonized since its appearance and given greater responsibilities than it is, such as that it contributes to the responsibility for the global warming of the planet, forgetting the industries that produce a huge amount of carbon dioxide and how criminals and money launderers use it as if other currencies did not They are used for the same purposes. Cannabis has for decades been shunned as a narcotic that corrupts minds, forgetting its properties as a medicinally beneficial plant, which has made it a profitable commodity in the hands of gangs, criminals and all outlaws. And just as we started almost a decade ago to return cannabis to the white market and benefit from it in regulated legal frameworks, Bitcoin has already begun the journey to surface legally after the journey of demonization.

We cant really tell yet but it could really able to sustain after all of those negativities that its been experiencing which is something not surprising for government or those fiat believers to throw off against Bitcoin.

There's always an opposite into something which had existed and really focused out or have those features or quality that it isnt really that appealing into their eyes specially on something  that cant really be controlled.

You could really hear off those emphasis of its negatives rather than saying on both pro's and cons which usually make people believe that it was totally true but well its not really that a worrisome thing
because people would eventually find out the truth and the real thing which it wont really completely stop towards in overall progress and acceptance of it.

[theCommittalist]

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

I find it a good example when you compare the situation of Bitcoin with that of hemp, where it has been demonized since its appearance and given greater responsibilities than it is, such as that it contributes to the responsibility for the global warming of the planet, forgetting the industries that produce a huge amount of carbon dioxide and how criminals and money launderers use it as if other currencies did not They are used for the same purposes. Cannabis has for decades been shunned as a narcotic that corrupts minds, forgetting its properties as a medicinally beneficial plant, which has made it a profitable commodity in the hands of gangs, criminals and all outlaws. And just as we started almost a decade ago to return cannabis to the white market and benefit from it in regulated legal frameworks, Bitcoin has already begun the journey to surface legally after the journey of demonization.

I appreciate that you are perceptive enough to pick up on this yourself. For me, there is some strange timeless synergy going on between hemp cannabis and Bitcoin right now that is a generational thing. It is a millennial & post-millennial kind of digital enlightenment, & the old-timers who have had their revolution & rebelled against their predecessors don't seem to like it. It smacks of simple jealousy, unfortunately. I understand that none of us are getting any younger & that it may be hard not to let ageing & the onset of death make you bitter but we have to try to live & let live, move over & let the heirs apparent come into their own.

I would like to see the vets & cronies have a bit more faith in currency & life & a legacy of greater health & wealth all round.

Like you say, both cannabis & Bitcoin are profoundly misunderstood & demonized by fools & deceivers alike, & it all seems some sort of existential crisis about the human condition, where the oldest & most socially entrenched are influencing what would otherwise be a joyful & liberated new kind of global society with a kind of saturnine misery-guts sort of response to things that are associated with pace & spontaneity, healing & empowerment. Anti-committalists I call them, usually disguising themselves with critique of either communism or capitalism.

[Bambozled]

Imo, there are 3 main reasons acting as barrier for worldwide adoption of bitcoin:
Regulations

Volatility

Security

[dataispower]

Imo, there are 3 main reasons acting as barrier for worldwide adoption of bitcoin:
Regulations

Volatility

Security

Yes, I agree with you. But I want to add one more thing. So, lately various "crypto bets" have become popular, which just kill bitcoin. Don't think of it as advertising. I have noticed that this sphere is negatively affecting bitcoin. I really don't know why, but it is so annoying! I don't like these bitcoin games and stuff like that because it just kills the value of cryptocurrency. Also, these crypto staking sites are bad for the reputation of cryptocurrencies! What do you think about this?

cryptocurrency bet is now popular but it will not cryptocurrency neither bring cryptocurrency to the world and people will cryptocurrency very well, crypto bet is like another way of showing people the values of cryptocurrency and bitcoin. I have not notice anything wrong by using cryptocurrency for betting. If you bet with cryptocurrency it will not affect cryptocurrency or either bitcoin in any ways. I know that bitcoin is want to be regarded as fiat currencies functions and usage in the society. Bringing up such ideas that it will kill bitcoin is bad ideas from the way i understand it

[bestcoins1]

Imo, there are 3 main reasons acting as barrier for worldwide adoption of bitcoin:
Regulations

Volatility

Security

These three things actually have their own criteria and descriptions. Because in terms of security, Bitcoin is clearly very safe to be used by anyone even though it can't be used for all purposes and for Volatility it's also not so bad even though it had experienced bigger changes in a certain period. However, for regulation, I think it clearly needs to be adjusted again because every country in the world already has its own rules which are generally used by citizens of their respective countries.

[danadc]

I agree and it is also psychologically hard to adopt a change that will fundamentally change the way people store value and perform payments.
You see.. humans have anxiety systems that ideally should help them identify danger. Changing the financial system from its foundation is indeed  something that provokes a lot of thoughts. But that is not a bad thing. it just means we need to take our time and not hurry when making important decisions.

Most people learn the hard way, there is no other way, when people who didn't believe in Bitcoin see when it goes over 100,000 dollars they will want to enter anyway, but they have to gather all that money to have 1BTC, it doesn't matter I know that many will buy very expensive for then when the price drops a little they will pray for it to grow again, that is what happened in 2018 when bitcoin fell to almost 2000 dollars, there were many who bought almost 20,000 dollars, many cried and they sold cheap, if they bought for 20,000 dollars for nothing in the world I would sell for less than that.

[Fernando Gomez]

Though security, volatility and regulations have their own certain criteria which doesn’t imply that they are not the barriers for worldwide adoption of bitcoin.
Though many countries have passed legal tender, legalising bitcoin. But in certain countries bitcoin is not illegal but they have also not legalised them. Some countries like the UK have regulated cryptocurrency but are advocating against cryptos.
Cryptos are not governed by any authority which means that these can be highly volatile.
There are many cyber attacks and scams going on which suggest that bitcoin is not 100% secured.
It is okay for cryptos to be risky, so are the other markets.

[TheNineClub]

It's transparency and centralization, it has always been. Governments and users require stability and someone that can guarantee some safety on their investments, and governments can do that, but that would mean BTC has to relinquish its autonomy. Now, we're at the crossroads and need to decide, do we want a real ungoverned currency, or do we want something that acts in the manner of the old curencies? The first would mean autonomy, but less money for the investors and the second would mean no autonomy, lasers from eyes, Lambos to the moon, and all the other bullshit you hear online.

[shogun47]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

As much as I would like to let you know that I fully agree, the issue with what you just said is that it is unrealistic for Bitcoin to develop into its own economic system without any tax burdens whatsoever. I would rather say that whatever generates income is taxable (under most circumstances). If Bitcoin makes you income, a tax applies. I don't think a world would work out properly without taxes. There was an interesting sentence a while ago about the rich saying they are fine with higher taxes and carry a heavier burden than the poor. Then it was added that the state donation account was just in the thousands. If the millionaires and billionaires are fine with higher taxes, why not just send money to that state controlled donation account? In a sense it is the same when I am fine with higher tax, I can either pay higher tax or impose a tax on myself through donations that I commit to. Yet that account is usually literally empty. People aren't going to support public goods the way we wish they were. Economic self-interest isn't bad per se, but it needs moderation and coordination. Tax is a tool to achieve that. I am not saying I am all for taxes in whatever form they occur, but I don't see how an economic system would support a social system without taxation requirements.

Sure they can tax associated income as you say in the form of capital gains or whatever, but my broad point still stands. Bitcoin itself as a standalone thing, unlike any other currency, cannot be claimed & thus taxed by a state agency. It relies on the internet & belongs to the users. Think about a state agency claiming jurisdiction over the internet & trying to tax Bitcoin like they do national currencies, I think that is unrealistic.

I totally get what you are saying and I am not arguing against your point from a theoretical perspective. The reality, however, will turn out to be quite different. Before the governments forego any significant tax income, they would rather build cross boarder alliances in order to set up a tax regime that ensures nobody can get away with amassing wealth while not paying any tax.

Please elaborate further once more for me: so you say that when I buy Bitcoin at 10,000 a piece, and I use that Bitcoin to buy a car for 20,000 a piece, should I, according to your viewpoint, be taxed by my government or not? Could you give one or two examples when you think a tax should apply and when not?

Simply put, if two traders anywhere on earth decide to buy/sell a car in Bitcoin, then they cannot be taxed. The caveat I am trying to add is that once people establish a business based in one or another national jurisdiction doing this then they can be taxed. Also, once people trade their Bitcoin in for any national currency the state agency responsible may impose income or capital gains tax on that. But as long as Bitcoin remains Bitcoin & in the hands of private individuals it cannot & should not be taxed. From my understanding the logic of taxation is that in partaking of a national economy & its exchange medium or currency you are using a service & there is an implied cost. The amount & kind of taxation that is acceptable will probably be the stuff of intense debate for all posterity. But to tax Bitcoin as is you would have to be the centrist state agency ruling over its jurisdiction which is the internet hence it is able to be 'decentralised'. I am not saying that state agencies would never be able to extort or steal Bitcoin & call it taxation because unfortunately anything is possible, but that it will never transparently become standard practice overall because it is contrary to legitimate authority & unethical. This is why the established 'international order' & crony capitalists & their state media have been sidestepping BTC until lately when they have started throwing all manner of kind of childish FUD its way. They don't understand it. It scares them. The opportunity for universal profiteering is unprecedented & the sleepers & party poopers are being forced to reveal themselves 

I totally get your thought process, but let me give you an example which would like you to elaborate on according to your theory:

In some countries there is such a thing as a gift tax. Without going into further detail regarding concrete numbers in specific countries, let's just assume that Bitcoin is valued at 20,000 USD and a person I know well has a piece of art that is officially valued at 10,000 USD and we know that because that piece of art is a limited edition of 100 pieces and there is a relatively liquid market where I could also buy that piece of art in cash for 10,000 USD. But since I know the person well, I make a private transaction and pay with the Bitcoin valued at 20,000 USD. On on the balance sheet that person now officially owns 10,000 USD more in wealth. Later on, that person doesn't sell the Bitcoin for cash but buys a car valued at around 20,000 USD in a private transaction from someone else.

As per the balance sheet, the person accrued 10,000 USD in wealth. Is any tax due according to your point of view? Wouldn't that be one of those typical loopholes people could make use of just by not going through a state controlled fiat currency?

Although I myself do by far not agree with many of the existing tax rules, the real question is how Bitcoin is treated in front of the (tax)law. There are rules in some countries when tax exemption applies for the usage or sale of Bitcoin after a certain period of time. The same applies to a piece of art. If I buy a piece of art for 100,000 USD and sell it for 200,000 USD a week later, usually tax applies in the form of capital gains tax. It doesn't matter what I buy with the piece of art, tax applies for as long as the thing is worth more than what I bought my piece of art for initially.

To take it one step further: one could argue that tax is supposed to be used for the infrastructure I make use of in the country I live. Streets, hospitals, schools, etc. Now an interesting question is this: if you argue that Bitcoin is decentralized in its trust sense, what if I live in a country that provided a substantial amount of mining power? Am I not somehow using or benefitting from infrastructure that my country provides in the form of electricity grids, space, ISPs, etc? The problem is that things get too complex.

[Thara20]

There are many causes for this, but the price volatility of cryptocurrencies is one of the main obstacles to widespread adoption. The total supply of the majority of cryptocurrencies is fixed, but due to speculation, the demand for the coins is unpredictable and constantly changing.

Additionally, despite the fact that a number of nations have recently published frameworks and laws to establish a comprehensive set of rules for the trading and use of cryptocurrencies, the majority of nations haven't offered any specific instructions on how the general public should use them. It is therefore challenging to achieve mass adoption.