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Author Topic: What one change to Bitcoin can make it's adoption faster?  (Read 264 times)
tygeade
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November 27, 2023, 06:15:42 PM
 #41

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.
I would guess that going against the government is not the way to get adoption higher. I mean you may "wish" for something but the reality is different than what you wish for. The situation is clear, we are talking about something that would not be all that troublesome, I think it should be important to notice that if you really want no intervention by the government at all, then you are going to face some trouble, instead you should be trying to do something that will benefit you one way or another, and for that to happen you need to make sure that you have government on your side.

Not saying government should be against it, no, you can't even have government ignoring it, you may want that, but even that's bad, you literally need it supporting it. That will change everything, we need more legal tender nations, and possibly even bigger ones. That would make adoption of bitcoin a lot more, it should be something that would be considered positive for us.

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November 27, 2023, 07:07:50 PM
 #42

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.
Many people do not like bitcoins mainly because the government has not mainly said it is good. These people trust the government so much that they still want to believe that they are good and always make decisions that are good for them. If the government accepts bitcoins and finally it is good, it will affect the decisions of these people about it. Also, more people will adopt bitcoins if more people around them adopt bitcoins. There is a psychology to not wanting to be left out when there is a new and trending technology around you, if more people start using bitcoins, some of the people who do not have or use bitcoins now will adopt it.

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ZAINmalik75
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November 27, 2023, 07:22:09 PM
 #43

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.
If governments will adopt it like they adopt fiat then the old-minded people who don't like BTC will begin to like BTC. Because in my own country, it is banned so most of people don't even want to think about BTC because they think, it is a waste of time on thinking about BTC because it is banned by the government so why would we call it extra trouble when we are dealing with enough financial shits.

So, if the government is able the buy and selling of BTC directly from banks in a P2P manner without any involvement of centralization, then people will be convinced to adopt BTC at all costs. Because in my opinion, if a platform is promoted by the government then the people of that country will adopt it faster than a platform that is being promoted by some foreign, or third-party authority who have no devotion toward the country.

Government adoption is one of the many ways to increase the adoption, now the current way might be to increase the scalability of BTC because it will solve many of the other things collectively.

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Faisal2202
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November 27, 2023, 07:24:12 PM
 #44

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.
Low transaction fees and fast processing, easy conversion from BTC to local currency, these features will make BTC the top priority over other currencies because BTC will be providing the feature of a currency while it actually an asset. So, small merchants and vendors who are taking off from BTC as a payment method due to high fees and slow transaction confirmation will adopt it in a second.

And besides merchants and vendors, there comes, investors of both kind (traders and holders) who will be adopting it anyway, whether this issue will be resolved or not because they have to spend money one time from one wallet to another. What in most cases I do is, if I have to send BTC in high congestion time from one wallet to another is.

I try to convert my BTC into some other coin and then send it to my required place and after receiving it on the other side, I use the built-in swap to convert it back into BTC. It also costs a fee but in most cases is less than the BTC fee. Because last time I checked, the fee to withdraw funds from Binance was around $17, and now is $8, but the fee was lower with other coins and then swapping it.

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