What one change to Bitcoin can make it's adoption faster?

[coupable]

Reduce or eliminating government intervention, this will make the country is free to choose what they likes including Bitcoin. But this change is something like won't going to happen since government was created to control the citizens. They control through the system where teacher can only teach base on their curriculum, TV broadcast or articles that only mention about crypto scams instead of Bitcoin is better than banks etc.

Like you, I do not like the state's heavy intervention in a way that does not take into account the privacy of citizens. But I disagree with you very much when we are discussing ways that can accelerate Bitcoin adoption. We can never cancel the fact that we still live in a global economic system based on centralization, which in countries occupies the most important place in regulating financial operations and everything related to finance. According to this standpoint, it would be very beneficial for the state to include blockchain education within the educational curricula at all levels (secondary and university), which will raise awareness of the technology and provide room for its use and thus adoption.
Today we have the United Arab Emirates as the most important example, although it does not fully recognize crypto, but adoption rates are on the rise after granting activity permits to crypto service platforms like Binance.

[Cookdata]

Interest and legality from the government could be a major booster in increasing Bitcoin adoption. Which leads to increased innovation in several business sectors, especially those related to investment. Yes, we can see together that perhaps positive steps from big countries such as America, Russia and China can also provide positive sentiment, where historically these countries still have a big influence on the Bitcoin market and its adoption.

The sad truth about this is that the government will not approve it. Did you follow the Binance court case? One of the charges was that Binance facilitates a lot of transactions for criminals. Now, Binance is a centralized system where transactions are been monitored and with the $4B charges, if they should have looked further, a lot will be revealed but that is that. With the disappointment of the US government and Binance, do you think they will like typical blockchain transactions where there is zero censorship and no middleman, even the Binance case is enough for the government to have second thoughts about bitcoin regulation because they just send a wrong message to other governments that have been friendly to bitcoin.

Legality will be hard, maybe for now but perhaps in the future when things become simple for them to comprehend about bitcoin, they will be allowed that freedom of people they have been holding against the free will of the people. We may also be like this forever, who knows but as long as bitcoin adoption never slacks for once and the interest keeps improving, then I have no interest in whatever the government want to do with bitcoin, as long as they don't disapprove the use, I'm fine with their decision.

[Z-tight]

Adoption hasn't been slow, has it? It is common to say 'don't fix what's not broken', so i'll not change anything about the current state of the BTC network for faster adoption. I see people suggesting regulations and government involvement as things they would gladly accept for a faster adoption, but that is a no for me, i believe the government, blockchain analysis companies and centralized exchanges are very big problems to BTC and how it was supposed to operate.

Adoption will be faster when people see the need to use a censorship resistant currency, and not when the currency changes to suit them, i prefer for BTC to remain in the nature it was designed with slow adoption, than for it to fall under the control of LE and centralized agencies just for faster adoption.

[KiaKia]

Many believe that the adoption rate is very slow but others believe it's not, well, the truth is if the adoption rate of Bitcoin is very fast many who are seeing the present opportunities of buying Bitcoin right now wont be able to buy it, the higher the adoption rate the bigger the value of Bitcoin will be.

If you are here right now you are still early, judging with the world population, many people are still not into Bitcoin investment yet, I am kinda glad that the adoption rate is slow if that's what may think, because It will be hard to see Bitcoin bottoming at 17k, maybe the price will be so higher.

This is why I think that ETF approval will make things to feel different right after, the present opportunity might be the very last best, if truly the ETFs get approved, this will change everything, seeing better new lows in coming bear market won't be like the past anymore.

[xSkylarx]

The only key is the adoption of government. We all know that even if we criticize the government for their doings, if they still ban Bitcoin or do not allow its usage we will still follow no matter what, so if the government will not interfere or even announce to the citizens to use Bitcoin, for sure adoption of it is huge and the information that was fed in the media is good, not the same now that they will involve bitcoin in illegal activities that will lead to making the image of Bitcoin bad. Only the government can make this happen unless people are educated enough to see the value of Bitcoin like us.

[Despairo]

But I disagree with you very much when we are discussing ways that can accelerate Bitcoin adoption. We can never cancel the fact that we still live in a global economic system based on centralization, which in countries occupies the most important place in regulating financial operations and everything related to finance. According to this standpoint, it would be very beneficial for the state to include blockchain education within the educational curricula at all levels (secondary and university), which will raise awareness of the technology and provide room for its use and thus adoption.

That's correct if the country is adopting or friendly with Bitcoin, it can increase the adoption because they can promote Bitcoin to their citizen. But I don't like the adoption because of centralization support since they might ask their citizen to use their centralized wallet, exchange etc which is an another way to track the coins of their citizen.

Blockchain education isn't always related to Bitcoin because blockchain is just a public ledger, anyone including centralized banks can adopt blockchain to accelerate their operation.

[Sim_card]

Government should stay away from bitcoin and allow the bitcoin adopters to use bitcoin the way it was designed which is decentralization, and let them stop thinking that they can control bitcoin and also the people that are using bitcoin. This is because whatever the government controls end up being messed up, just like out fiat currency that they keep on printing and printing instead of tackling the problem of inflation. Bitcoin adoption is growing in the right way that it ought to grow and I don't see anything that is needed to help it grow faster because as the time passes, its adoption rate will keep on increasing and that is the best way slow and steady.

[ponomare]

If we want to talk about something that could effect a rapid adoption of bitcoin i would say the government coming to fully support it. There are many people who still do not want to come in because of the government restrictions, so should the government actually supports it the way the do to their scam CBDC I think we will see a rapid increase in number of users. Take a look at how news of government relaxing its rules usually impact the price changes.

But do I see that happening? No because the government doesn’t want this freedom and privacy that comes with it. I also do not want government interference into it. So this current adoption rate seems ok to me

That can happen soon in the form of ETF. May be next year.

[traderethereum]

The government could legalize bitcoin as a means of payment and investment instrument by making regulations regarding bitcoin. It can make people feel confident because their government approves the use of bitcoin.
Apart from that, the government is also trying to provide information that bitcoin provides more positive benefits than negative benefits to society so that people do not think that bitcoin is only for illegal activities.
Continuing to campaign for Bitcoin to be a long-term investment, maybe it will help people's curiosity to start learning about Bitcoin. That could provide an opportunity for it to accelerate mass adoption everywhere. But I don't know, that's just my thinking and maybe it could be wrong.

[_BlackStar]

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

Accelerating bitcoin adoption depends on many factors - one of which is legal or regulatory clarity. If the government does not legalize bitcoin as a legal tender - then of course obstacles can be expected to accelerate its adoption. Many other factors also need to be mentioned such as security, innovation, convenience and community awareness of its use cases as well as sustainable and growing supporting businesses.

The adoption of bitcoin as a currency or means of payment has so far grown rapidly and it will continue to grow day by day. Support is not only coming from micro businesses but large scale companies are also starting to support bitcoin as a means of payment. The ecosystem is growing - but the case for using it as a currency is still hampered by regulations in some countries.

[moneystery]

adoption of bitcoin can be increased if governments do not hinder the use of bitcoin in their regions. so far, the problem most often faced by bitcoin in its adoption is that governments often prohibit the use and trading of bitcoin in their regions, as has happened in china, bangladesh and several other countries.

governments ban the use of bitcoin in their countries because they are concerned that bitcoin could disrupt their financial system and discourage many citizens from using fiat in their transactions, and that would impact their economy.

if only bitcoin could get regulation and be used in many countries, it would probably become a popular digital currency and its adoption would probably be higher than it is now.

[Smack That Ace]

I think OP wants to discuss and come up with ideas to help bitcoin popularize faster. He's not talking about impossible scenarios like the government should stop paying attention to bitcoin, the government should allow people to use bitcoin freely...Those scenarios will never happen and are just illusions, not ideas. If we have a way to make that happen, I want the government to disappear completely, not just that I want them to stop interfering with our privacy or stop caring about bitcoin. We should come up with practical ideas instead of just thinking aimlessly.

[kingvirtus09]

Even though many governments are blocking Bitcoin, they still haven't stopped Bitcoin's dominance from rising, which is why it has taken 14 years. Take note: there are many who oppose bitcoin. What if most of the countries around the world have adapted Bitcoin to their territory just like El Salvador did?

So that means the adoption is accelerating even without the help of the government that is not open to Bitcoin, because there are as many communities that share the loveliness of Bitcoin's concept in the reality that happens in our lives.

[Jawhead999]

We should come up with practical ideas instead of just thinking aimlessly.

There have been many ways to promote Bitcoin, this one of the way.



With the current technology, no one can't search and learn about Bitcoin. There are many promotions about centralized exchanges, crypto casino or shitcoins, although it's not 100% promotion to Bitcoin, but they've know if Bitcoin is in there.

Bitcoin is known used to fight against the centralization and most people still think Bitcoin is only for rich, so it's really dangerous for Average Joe to promote Bitcoin.

[Lorence.xD]

If we are talking about Bitcoin adoption, well, from the replies here I agree that the government is one of the factors that affects the rate of adoption of Bitcoin. But sadly, Bitcoin here in my country in the PH is not that popular as few people are actively engaging in the crypto industry. From that, I could say that Bitcoin lacks the publicity and promotion for people to gain interest as they could see it in their everyday lives, since it's not popular only a few people there would be fewer promoters cause in the first place they wouldn't benefit if they pay for advertisement. Since crypto-related activities became popular back then as the government noticed that people could earn huge amounts without paying taxes, they tried to be involved by trying to put taxes but it's not possible at all since it's a decentralized system. But it gained attention from the public and many people entered the market.

[kentrolla]

In order to make people adopt Bitcoin faster we need to have a strong community who should make Bitcoin accessible for everyone and to be honest Bitcoin cannot be used as an daily payment method for day to day shopping or paying bills due to volatility, though Bitcoin volatility is very lesser in crypto domain but for mainstream industries it's way too much this it will remain as P2P.

Some of you might not agree but these unreasonable extortion in the name of transaction fee is something which no one would like to pay and will always be a blocker between Bitcoin and adoptability though P2P will continue seamlessly

[krishnaverma]

We should come up with practical ideas instead of just thinking aimlessly.

There have been many ways to promote Bitcoin, this one of the way.



With the current technology, no one can't search and learn about Bitcoin. There are many promotions about centralized exchanges, crypto casino or shitcoins, although it's not 100% promotion to Bitcoin, but they've know if Bitcoin is in there.

Bitcoin is known used to fight against the centralization and most people still think Bitcoin is only for rich, so it's really dangerous for Average Joe to promote Bitcoin.

What percent of poor people are currently using Bitcoin according to you?

[Aanuoluwatofunmi]

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

Nothing more needed as that important than what's already there under the bitcoin network and the blockchain technology protocols, being a decentralized digital currency is one of the ways people developed interest in bitcoin, it's serving it's purpose already and we cannot say the little increase in the cost for making bitcoin transactions will be a reason for a decline in its adoption, the value and the needs for people to make use of bitcoin as an alternative currency alone is good enough to always adopt bitcoin because you are in charge of your finances.

[cafter]

Making people understand what bitcoin is, Most of the people don't research about bitcoin because many well known people who has big influence on the community have created an image of bitcoin as a scam.
people aren't familiar with what bitcoin truly is, and they don't take the time to research or learn more about it. instead, they rely on well known personalities on YouTube/TV for guidance and trust them.
I am telling this because i myself had viewed bitcoin as scam and had not done more research about it, because of influencers on youtube.

[mirakal]

Nothing is perfect and Bitcoin is no exception. Let us discuss in this thread that one change which can increase the adoption of Bitcoin further at a rapid rate.

Bitcoin is decentralized, the reason why the government is not supporting it because they can't control it unlike fiat is. If only the government is being fair and will not see bitcoin as a threat, then the rate of adoption will certainly increase. The people won't question it because the government is already supporting bitcoin, so it will be an advantage for bitcoin to speed up its adoption process.

However, this is far from the reality that the government will support a decentralized currency. But if only the government is fair and just, then the people will not be restricted anymore to use bitcoin.