Global bitcoin adoption to hit 10% by 2030: Blockware report

[_act_]

Global bitcoin adoption to hit 10% by 2030: Blockware report

I am surprised to see that bitcoin adoption is not yet up to 10% of the world's population. See the blue arrow, where we are in 2022, very not close even to 5% of the world adoption. With bitcoin presently at $30000 and having over $500 billion marketcap, I thought the world's adoption would have been more, but not, but an opportunity for people to buy bitcoin.

“With Bitcoin direct financially incentivized adoption creates a game theory in which everyone’s best response is to adopt Bitcoin.”

Bitcoin, like the internet, smartphones, and social media, also derives benefits the more people that adopt the technology, which is known as the “network effect”.

“Case in point if you were the only user on Twitter would it be of any value? It would not. More users make these technologies more valuable.”

However, the authors of the Blockware report stressed that the model used to predict the rate of adoption was only conceptual at this stage, adding it is neither meant to be used as investment advice nor a short-term trading tool and it would continue to be refined. However:

“The general trend is clear; there is a high probability that Bitcoin’s global adoption will grow significantly into the future and thus so will price.”

Although, this is said to be conceptual but adoption is what most likely will occur. Some people will be saying it is too late to buy bitcoin, just like some.people said in 2014 when bitcoin price was at $1200 or below, some people also said so in 2017 when bitcoin reached $19600, some people said so when bitcoin price reached $68900 in 2021. Following bear markets and then rise again and reach all-time-high. The probability that six digit is possible in the next long lasting bull run is very high. No one is late to make the continuity of the adoption possible.

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[gweb1996]

Global bitcoin adoption to hit 10% by 2030: Blockware report

I am surprised to see that bitcoin adootion is not yet up to 10% of the world's population. See the blue arrow, where we are in 2022, very not close even to 5% of the world adoption. With bitcoin presently at $30000 and having over $500 billion marketcap, I thought the world's adoption would have been more, but not.

Bitcoin lost it's main use as cryptocurrency ,when it became a financial instrument for horders ...beside gambling,hording,and speculation ...i don't see main stream shops adopting it ...

[fiulpro]

2/3rd of Indians and more than 10% of the US alone lives in poverty and when we talk about adopting of Bitcoins we might have to first talk about the adoption of mobile phones and internet as well, then also we would be able to analyze how many people are able to use cryptocurrencies because cryptocurrencies are not as simple as using fiat it does involve a bit of general information about how to use wallets etc. Therefore I do think that this data might be alright, even the adoption of Bitcoins took a while, therefore we would be seeing better percentages in the future but it's not a big deal looking at it like that..

[Lucius]

I am surprised to see that bitcoin adootion is not yet up to 10% of the world's population. See the blue arrow, where we are in 2022, very not close even to 5% of the world adoption. With bitcoin presently at $30000 and having over $500 billion marketcap, I thought the world's adoption would have been more, but not, but an opportunity for people to buy bitcoin.

Even if we are now at some 5%, I would consider it a success, although after 13 years of Bitcoin, we could expect that percentage to be much higher. I'm not surprised that so few people have come into contact with Bitcoin at all, because generally the average person won't understand (or won't want to understand) what Bitcoin is no matter how someone tries to explain it to them. If we reach even 10% in 8 years, it will still be a good result, considering that it would mean that we are approaching 1 billion users globally.

Although, this is said to be conceptual but adoption is what most likely will occur. Some people will be saying it is too late to buy bitcoin, just like some.people said in 2014 when bitcoin price was at $1200 or below, some people also said so in 2017 when bitcoin reached $19600, some people said so when bitcoin price reached $68900 in 2021. Following bear markets and then rise again and reach all-time-high. The probability that six digit is possible in the next long lasting bull run is very high. No one is late to make the continuity of the adoption possible.

People who say it's late mostly use it as an excuse no matter the price - because in 2015 the price was around $200, during 2018 it dropped to only $3000, and the announcement of a pandemic brought it down by as much as 50% to only $5000 and it's always for some expensive.  In 5+ years $30k will be considered cheap, but even though the numbers are changing, people are not changing too much.

[naira]

Bitcoin adoption will reach 10% by 2030? Why not

In fact Bitcoin fits perfectly with every technological development and is proven to date. If we look at the early growth of Bitcoin, nothing has changed at all, i.e. Bitcoin can adapt to all technological advances without needing to be updated. That way, if we talk broadly for 2030, Bitcoin will remain compatible with increasingly sophisticated streams of technology.

This can be proven that adoption in the following years until 2030 certainly does not rule out the possibility that public openness to Bitcoin will be much friendlier and make it a complex alternative to all types of payment methods.

[arallmuus]

Bitcoin lost it's main use as cryptocurrency ,when it became a financial instrument for horders ...beside gambling,hording,and speculation ...i don't see main stream shops adopting it ...

Well yeah but in this case we are discussing about bitcoin adoption so it could be in any other form aside from being used as currency. It might sounds weird and lame for now because bitcoin is mainly used as a payment option in gambling site but hey I'll take that for now as long as most average joe out there would use it. I mean it gotta start somewhere so its always an option

[goaldigger]

Bitcoin lost it's main use as cryptocurrency ,when it became a financial instrument for horders ...beside gambling,hording,and speculation ...i don't see main stream shops adopting it ...

At least Bitcoin didn’t lose its main purpose, which is to provide financial access to everyone who wants freedom from the government intervention and from the banks as well.
The adoption is still a big issue in some places, and honestly we can’t tell the exact numbers because of security but at least we are growing and that 10% adoption is a big thing for Bitcoin. We can’t totally expect the adoption to rise easily, fiat is still here and it will never die. Let’s appreciate those who took the risk on buying Bitcoin, green days will come again.

[AmoreJaz]

Bitcoin lost it's main use as cryptocurrency ,when it became a financial instrument for horders ...beside gambling,hording,and speculation ...i don't see main stream shops adopting it ...

At least Bitcoin didn’t lose its main purpose, which is to provide financial access to everyone who wants freedom from the government intervention and from the banks as well.
The adoption is still a big issue in some places, and honestly we can’t tell the exact numbers because of security but at least we are growing and that 10% adoption is a big thing for Bitcoin. We can’t totally expect the adoption to rise easily, fiat is still here and it will never die. Let’s appreciate those who took the risk on buying Bitcoin, green days will come again.

this is a long way to go for bitcoin. but yes, be grateful that crypto market is growing and continuously increasing. with other networks, the purpose of crypto is also expanding like being used in many industries to improve their services like in transparency aspect. we can't expect that people will easily convert to being 100% crypto user, because even long time crypto users still need fiat money to live with their everyday lives. only few people can live with btc or crypto alone. and that is a dedication for them, to find merchants and entities that are only accepting crypto.

[KennyR]

Bitcoin lost it's main use as cryptocurrency ,when it became a financial instrument for horders ...beside gambling,hording,and speculation ...i don't see main stream shops adopting it ...

Well yeah but in this case we are discussing about bitcoin adoption so it could be in any other form aside from being used as currency. It might sounds weird and lame for now because bitcoin is mainly used as a payment option in gambling site but hey I'll take that for now as long as most average joe out there would use it. I mean it gotta start somewhere so its always an option

Everything needs a start, and until it gets carried forward the circulation shouldn't be let down. The gambling platforms does this and helps with the progress of adoption. If bitcoin wasn't used in gambling and dark market the real time adoption could've taken a fast phase or else it could've gone unused. For now we can see a good awareness among common people about cryptocurrencies, because in the past it is believed as a source used for gambling and dark market.

[Renampun]

...
Although, this is said to be conceptual but adoption is what most likely will occur. Some people will be saying it is too late to buy bitcoin, just like some.people said in 2014 when bitcoin price was at $1200 or below, some people also said so in 2017 when bitcoin reached $19600, some people said so when bitcoin price reached $68900 in 2021. Following bear markets and then rise again and reach all-time-high. The probability that six digit is possible in the next long lasting bull run is very high. No one is late to make the continuity of the adoption possible.

still very fresh in my memory, in 2017 when the Bitcoin price was $3k, many said it was very expensive, in fact the price of bitcoin broke to $60k++...

the adoption of bitcoin from year to year seems to be increasing but the number of Bitcoins remains 21 million, this is a remarkable thing. for those who buy Bitcoin at the current price, it is a blessing. 2030 is next 8 years from now, let's slowly collect bitcoins and tell other brothers and sisters to start investing in bitcoin from now on (slowly).

[STT]

It shouldnt be a question of poverty, really BTC needs to be the product that excludes nobody if at all possible.   I always had faith this is what the 'bit' part of BTC meant, the smallest people not silly obsession with whales.
  

not close even to 5% of the world adoption

In one way thats bullish that we have so much potential ahead of us and price manages to move this far so far.   Also its about the audience availability and convenience, to have aspirations for mainstream the product must be the easiest path to take.  The giant long address sequence cant be said to be easy to remember or use, its cumbersome but so were the first cars thats ok.   So we'll need more development, people can and do use QR codes so thats the indicated level of ease comparatively required for greater BTC usage that is really hands off no effort type transaction thats superior to the traditional FIAT or digital centralized route.  

[coolcoinz]

I like what Michael Saylor said and it's pretty much on par with what blockware is trying to show here. Bitcoin is either getting banned everywhere and disappears or it's going to a million USD per coin and we can see that it's not going to get banned because countries are working on regulating it and allowing bitcoin companies to register and work without problems. Some countries are attacking it, like China did, but China attacks everything that has to do with freedom and independence, so there's that.

[_act_]

People like to use crypto for bitcoin, this thread is about bitcoin but some people truned using crypto instead. Bitcoin is different and unlike most other cryptocurrencies that have not utility.

we can't expect that people will easily convert to being 100% crypto user, because even long time crypto users still need fiat money to live with their everyday lives. only few people can live with btc or crypto alone. and that is a dedication for them, to find merchants and entities that are only accepting crypto.

The purpose for bitcoin is not to replace but to be an alternative to fiat, j always see it absurd for people to want people to move away from fiat and move towards bitcoin, that will only result to government making all possibleobes to defend their local currencies, bnut bitcoin is never like that, it is seen more as an investment.

[Rikafip]

I am surprised to see that bitcoin adootion is not yet up to 10% of the world's population. See the blue arrow, where we are in 2022, very not close even to 5% of the world adoption. With bitcoin presently at $30000 and having over $500 billion marketcap, I thought the world's adoption would have been more, but not, but an opportunity for people to buy bitcoin.

Its always interesting to hear people being kinda disappointed with current bitcoin adoption as I think its quite the opposite and that we should be very happy with the current rates. I am pretty sure that Satoshi and handful of enthusiast and early adopters  couldn't imagine this success in their wildest dreams. Keep in mind that bitcoin has been around for barely more than decade and went a long way from being traded among few cyperhunks for a fraction of  a cent, to situation that we have now. On top of that, big percentage of people are not interested in self-governnace and everything else that bitcoin represents.

[Fortify]

Global bitcoin adoption to hit 10% by 2030: Blockware report

I am surprised to see that bitcoin adootion is not yet up to 10% of the world's population. See the blue arrow, where we are in 2022, very not close even to 5% of the world adoption. With bitcoin presently at $30000 and having over $500 billion marketcap, I thought the world's adoption would have been more, but not.

Bitcoin lost it's main use as cryptocurrency ,when it became a financial instrument for horders ...beside gambling,hording,and speculation ...i don't see main stream shops adopting it ...

It is a bit of a paradox and the headline here is referring to people "using" it. However there are many definitions to that, is someone who signed up at an exchange who ran a free 2 dollar giveaway once with that amount sat in their wallet a user? What about a wallet owned by a hedge fund, are they calculating those investing as people using it? Are they including wallets with dust amounts in, which sit abandoned never to be used again? I have a feeling this headline number is very tweaked to fit a story.

[tadamichi]

Bitcoin lost it's main use as cryptocurrency ,when it became a financial instrument for horders ...beside gambling,hording,and speculation ...i don't see main stream shops adopting it ...

K you convinced me, I’ll put all my money back into fiat now, because my supermarket is late to the game.

Sorry that i don’t take investment advice from supermarkets or barbershops to determine what money is.