Bitcoin Doesn't Need Mass Adoption.

[Bit-Mj1014]

‎Mass adoption would perfect for Bitcoin if doesn't come centralization plan, but if you ask me, Bitcoin is ok as it is.
‎Gold is the perfect precedent most people don't use it to buy coffee, yet its status as a store of value is undisputed. If Bitcoin continues to serve as a decentralized barrier for institutional portfolios and high net worth individuals, it doesn't matter if it's not used in everyday retail.

[Dunamisx]

Can Scarcity alone may drive value.
What if Bitcoin’s strength lies in selective adoption, not universal adoption.
Is mass adoption necessary, or is Bitcoin already successful as it is today.

Let me start with your questions by giving response to them accordingly.

1. For sure scarcity is one of the reason that can drive a market value, just as the demand rises supply is limited.
2. Bitcoin was not designed for a selective adoption right from time, it is a universal or global digital currency for all.
3. Mass adoption is necessary and as such, we are already being successful in it and continue with this success in Bitcoin as the value always continue to appreciate, while people are making profit for investing.

[purple_sparkles]

The more people use bitcoin for their own purposes, the more valuable it becomes, so high attention directly affects its price. However, I’m not very happy that governments have started paying active attention to it, any kind of legalization by the state usually means taxes, checks, and bureaucracy. That’s why I would actually be glad to see that governments are not in a hurry to adopt bitcoin as a financial instrument.

[yhiaali3]

I agree with you that Bitcoin is already successful even without Mass adoption, but I think Satoshi wanted Bitcoin to be a global monetary system that would replace the current corrupt system, not just a store of value or a safe haven.

Therefore, yes, Bitcoin is successful in its current state, but we need Mass adoption to achieve Satoshi's vision of establishing a peer-to-peer payment system. Bitcoin should be used as a complete monetary system that replaces the central banking system, and this requires global adoption.

[Fiasem20]

Gold never needed everyone to use it daily before it became seen today, as a physical store of value.Bitcoin can function as a store of value without mass usage. Bitcoin is already successful the way it's today. Because it's really solving a problem. Next time someone who is still doubtful about Bitcoin ask you if Bitcoin can stay  the test of time just tell the person that bitcoin doesn't need global adoption to succeed that, it's already a success.

Bitcoin is even more than a store of value,it doesn’t need a mass adoption for it to be recognized,it’s already recognized globally today.Bitcoin is already a success,even when critics are badmouthing bitcoin on the internet they don’t know they’re promoting it’s awareness to those people that may be curious to give it a further research.Personally,I don’t argue with people anymore about bitcoin succeeding or not because I’m so much concerned about my safety,the rate at which physical torture/extortion is so alarming and everyone ought to be on the safe side.

[macson]

Given Bitcoin’s current status with increasing global adoption, we can already say that Bitcoin has been successful. It is not necessary for Bitcoin to achieve widespread global adoption before it can be deemed a "success," as many people believe.

However, mainstream adoption today is currently more focused on Bitcoin as a store of value or investment rather than as an alternative payment method. It would be even better if we saw Bitcoin used much more as an alternative payment method, as it has significant potential in that area.

[Olotu20]

Bitcoin can function as a store of value without mass usage.

How can bitcoin function as store of value without mass usage? The more people buy bitcoin, also the more they buy more bitcoin, the higher the price. If no mass adoption, that means the price will not go higher. What I am saying is that you are not right at all, bitcoin is a store of value because of mass usage of it.

Am not only looking at the price but I looked at Bitcoin from the point of view of the value system that surrounds a thing. Using Bitcoin as an example Bitcoin is a success whether people massively adopt it or not. The value of a thing is only appreciated better to those who understands and knows the value of such a thing. So beyond the crowd that follows, assuming there were no crowds bitcoin is a success story.

[Finestream]

Literally yes. Bitcoin has been in a great success for the past decade even without global adoption, so I don't see there is a great need for global adoption. Bitcoin still performs as the best store of value, and a good currency that offers convenience and security.

However, the idea that bitcoin should achieve global adoption is not to make it as an official currency, but an alternative one. But I'm sure even without it, bitcoin has high potentials to gain higher success in the next years to come.

[_act_]

Am not only looking at the price but I looked at Bitcoin from the point of view of the value system that surrounds a thing. Using Bitcoin as an example Bitcoin is a success whether people massively adopt it or not. The value of a thing is only appreciated better to those who understands and knows the value of such a thing. So beyond the crowd that follows, assuming there were no crowds bitcoin is a success story.

No, you do not understand yourself. Increase in the price of bitcoin means increase in marketcap of bitcoin and it means increase in the value of bitcoin. So you do not know what you are implying at all. The value in any asset which makes people see it as an investment and a store of value is the increasing price of the asset.

Literally yes. Bitcoin has been in a great success for the past decade even without global adoption, so I don't see there is a great need for global adoption. Bitcoin still performs as the best store of value, and a good currency that offers convenience and security.

Yes, bitcoin has been a great success in the past decade, but the global adoption is very important. If no global adoption, bitcoin will not be where it is today.

[d5000]

Only $10k? Now that would be concerning

Maybe also 20k (just these days I encountered other Bitcoin-accepting merchants I've not known before, so there's definitely some progress). But not more than 30k. The 2022 lows were for me close to what the "fair value" of Bitcoin could be if we don't consider speculation on long term adoption. My original reasoning here for the $10k assumption is actually: Bitcoin in late 2022 was still bought by traders for speculation, so a "speculative premium" was still there, and thus the fair price must have been below that price mark (for 2022). In 2025/26 we've advanced a bit further but payments haven't increased that much.

Its strongest path may be layered adoption. At the base layer, BTC works as a neutral, censorship-resistant settlement system, while on the upper layers like LN or Ark, it can serve smaller and more frequent payments. So the real comparison is not BTC vs Visa at the base layer, but whether BTC can become the final settlement asset underneath payment networks.

Agree.

Gold could preserve value, but it could never realistically operate as a native internet payment system

Just for completeness: It can, but not in a decentralized way. You need some authority who manages and certifies the gold based assets. So you have an extra layer of intermediaries. And considering that, an "e-gold" style system is actually quite close to traditional financial derivatives. If the "authorities" misbehave or go offline, any gold token is worthless.

Maybe the real question is not whether Bitcoin needs universal adoption, but whether it can become indispensable in the areas where legacy money works worst.

This is indeed an interesting question.

Apart from the examples you already mentioned like remittances (SWIFT bank transfers are still incredibly expensive ....), it's funny that the thing I'd think the advantage of Bitcoin would be greatest is actually micropayments. Of course with layer-2's. In general I think any payments which are now done with cards could be more efficient with Bitcoin. An Ark provider would for sure charge much less than credit card companies do.

[jossiel]

Is mass adoption necessary, or is Bitcoin already successful as it is today.

Bitcoin is successful today because of the massive adoption that has been happening. But thanks to the early adopters and those who have been so firm with their belief to Bitcoin.

Despite that it's received a lot of bad things and impression in the past, they have been so consistent and steadfast towards what they believe it will be, as a store of value and as a good investment which it actually happened.

From the original use of being a day to day payment to having seen the value of it through being scarce, it has evolved over the period of time.

So, it cannot be dismissed that with its success today, the massive adoption has played a huge part in it.

[goldkingcoiner]

Many people argue that Bitcoin must achieve global adoption to succeed

No, Bitcoin has already succeeded.

Global adoption is something we strongly believe in because it is the next gen money. Of course when Bitcoin reaches such a stage it will reflect in the value of each coin but that does not mean "it succeeded because it reached global adoption". It means it has been accepted as worldwide currency which is better than the current fiat. And more and more people are seeing this.

[Kelvinid]

For now, bitcoin does not need global adoption because people are still profiting from it. But when the time comes that bitcoin's value will remain stagnant and profits are no longer visible, I believe global adoption by that time will be badly needed so that bitcoin will remain as a currency, even if its no longer serving a good store of value.

But the question is, how can we attract people and maximize global adoption when bitcoin that time is no longer attractive and profitable? I guess as early as now global adoption should be pushed through, otherwise we will lose bitcoin in the market in no time. Seize the moment while bitcoin today is still making a huge demand.

[thecodebear]

Many people argue that Bitcoin must achieve global adoption to succeed but is that really true, I have been thinking about this and I have come to the conclusion, that Bitcoin actually doesn't need global adoption to succeed.
Gold never needed everyone to use it daily before it became seen today, as a physical store of value.Bitcoin can function as a store of value without mass usage. Bitcoin is already successful the way it's today. Because it's really solving a problem. Next time someone who is still doubtful about Bitcoin ask you if Bitcoin can stay  the test of time just tell the person that bitcoin doesn't need global adoption to succeed that, it's already a success.

Ask yourself these key questions

Can Scarcity alone may drive value.
What if Bitcoin’s strength lies in selective adoption, not universal adoption.
Is mass adoption necessary, or is Bitcoin already successful as it is today.

There's different levels of mass adoption success.

1. Total success would see Bitcoin live up to every potential it has, which would mean it is used as the primary currency for the whole world, so people can save in hard currency, store their savings themselves outside of institutions, and spend easily and instantly digitally on everyday transactions, with much of the world's usage of fiat currency moved over to Bitcoin usage.

Given the power nations have over their own currencies it's extremely unlikely this 'total success' level will ever happen, but that's fine.



2. Next level down of success would be Bitcoin is a primary savings vehicle for billions of people, with bitcoin being a standard corporate treasury holding, and a standard govt reserve holding like Gold currently is, and is easy to spend anywhere that offers digital payments and billions use it fairly regularly for payments, but fiat currencies still account for the majority of transactions.

I'd say Bitcoin MIGHT achieve this level one day, but that level of success is decades away. It could be hit sometime in the second half of this century if it ever does happen, though I could see the standardization/normalization of corporate and govt holdings part of this being hit in the next 20 years, but the billions of people using it regularly will take decades longer.



3. Next level down of success, which I would still say would count as Bitcoin being a huge global success, would be billions use Bitcoin as a savings vehicle, and most places with digital payments have bitcoin payments, and bitcoin payments are used mostly by people in countries with worse/untrustworthy govts/banks.

I'd say Bitcoin is right now on the path to #3, though still very early on that path. Maybe in another 20 years we'll be able to say Bitcoin has fully reached this third-level of success. Right now Bitcoin is a little bit used as private savings, but mostly looked at as some high risk tech stock rather than long term savings, and payments in those certain types of places in the world are definitely happening but mostly just a little bit in small areas around the world, still basically in bitcoin's payments infancy stage.



But even today, with many many millions of people owning Bitcoin most as just a 'risk' investment but many see it as actual savings, and with it gradually being normalized as a viable investment alongside stocks, and with a number of companies holding it, and with bitcoin being used for payments in small pockets in the world, Bitcoin is already very successful considering it grew to this massive global presence from a single person writing some code and running a machine with it having zero market price for over a year.

So, Bitcoin is already a huge success, but yeah it's still pretty early in it's success lifecycle, it will likely end up hitting that #3 or #2 success level, but that is decades away. The 'hyperbitcoinization' that people tried to sell others on was always a ridiculous lie, as though all at once hundreds of millions or billions of people would suddenly shed their long held bias and become well educated on Bitcoin lol. Bitcoin's success doesn't come all of a sudden, it comes from decades of grinding away at the core notion in society at this point in history that currencies only come from govts, and that investments only come from companies, govts, or property, and that anything else is scammy or risky or gambling. That's a kind of bias that for a lot of people is going to go to their grave with them, and it'll take a generation or two of people being raised in to a world in which Bitcoin exists before Bitcoin reaches full success.

[Odogwu-Blockchain]

It's still surprising while some people hasn't heard of Bitcoin and, or use it for anything, I've encountered people who hasn't understood how Bitcoin works and they are many in my country.

If there are many here, how many would be available in other countries round the world who hasn't used Bitcoin in their life.
Upon these numbers, Bitcoin still doing well and never needs anyone's validation.

The few users who consistently buy and sell Bitcoin making the market moving is enough for Bitcoin growth to any level.

[Patikno]

Many people argue that Bitcoin must achieve global adoption to succeed but is that really true, I have been thinking about this and I have come to the conclusion, that Bitcoin actually doesn't need global adoption to succeed.
Gold never needed everyone to use it daily before it became seen today, as a physical store of value.Bitcoin can function as a store of value without mass usage. Bitcoin is already successful the way it's today. Because it's really solving a problem. Next time someone who is still doubtful about Bitcoin ask you if Bitcoin can stay  the test of time just tell the person that bitcoin doesn't need global adoption to succeed that, it's already a success.

Ask yourself these key questions

Can Scarcity alone may drive value.
What if Bitcoin’s strength lies in selective adoption, not universal adoption.
Is mass adoption necessary, or is Bitcoin already successful as it is today.

Bitcoin existence is a significant success in revolutionizing finance, which means Bitcoin has its own vision of providing a free space for transactions with its pseudonymous nature, along with its decentralized nature, and I think this is what is called "Freedom and Privacy". Regarding global adoption, I believe it is still necessary to drive Bitcoin price. Essentially, Bitcoin value will grow even more, if there is massive global adoption. Therefore, we cannot ignore global adoption, which contributes to accelerate Bitcoin price growth. I think, Bitcoin current high price is partly the result of global adoption. I am not saying Bitcoin needs global adoption, but the world needs Bitcoin, I believe so.

My answer to your question:

1. For some goods, scarcity alone doesn't drive value; it must also be accompanied by a useful use case. Have you ever seen an item that i rare (has no use) but commands a high price? I don't think there is anything like that.
2. Well, Bitcoin strength lies in its usability, which anyone can take advantage of. So, I think universal adoption will continue to occur as we move towards the digital era.
3. I have already outlined this at the beginning, and I hope it can provide input for our discussion.

[Alonso_]

Many people argue that Bitcoin must achieve global adoption to succeed but is that really true, I have been thinking about this and I have come to the conclusion, that Bitcoin actually doesn't need global adoption to succeed.

You can feel it in a way you want or biased with but it does not prohibit Bitcoin global adoption growth that surely does not depend on how you think about it. Bitcoin adoption grows naturally and Bitcoin has a very parabolic unprecedented impressive growth curve because of its magnificent technology and very good practical operation of Bitcoin blockchain and network since 2009.

Mass global adoption or not, you want it or not, it's your issue, while Bitcoin does not care about you and your thinking. It is a decentralized blockchain that is accepted and used by many people globally and its growth depends on mass people around the world.

Don't trust me, verify it with some proofs.
6 months to get 1000 users; 5 years to find 1 million users.

Today, 13.8 years from inception, it has 300m+ users, 4% of the world.

At current growth rates, 1 billion users will be hit in the next 3 years. That's 12% of the world.

About the adoption curve of Bitcoin.

The adoption curve of Bitcoin is faster than any other global infrastructure rollout before it.

It's growing faster than the rollout of the Internet, mobile phones, and easily faster than "virtual banking" players like PayPal.

See the Bitcoin adoption S-curve full chart.

Personally I’m comfortable the way bitcoin is right now but what we don’t understand is that Bitcoin can never be used as a National Currency, or maybe we are talking about bitcoin eradicating and replacing Local banks which I think this might actually become impossible because that isn’t the Primary aim why bitcoin was created I know bitcoin is a digital currency that os faster than any other digital currency in the world right now and it will continue to grow and make tremendous gains in the future, bitcoin didn’t get to where it is today because anyone adopted bitcoin, so bitcoin doesn’t require any mass adoption to grow or continue to thrive.

[TedMosby]

"Store of value" still needs broad adoption (recognition, use, or trust). Who would consider it has value if there are only a few people adopting it? If only a few people adopt it, there will be a lack of liquidity, and in the end it would be difficult to count it as a "Store of Value". No need for everyone to adopt it, but we need many people to adopt it.

Gold is not for daily use these days. But back in the old days, it was a standard. And many people from different continents, regions, and backgrounds used it for transactions. And it became a standard. Talking about gold, we need to zoom out the timeframe more.

Also, I think the more Bitcoin is adopted, the more decentralized Bitcoin becomes. It will strengthen the ecosystem and trust. Adoption is a foundation.

[Lida93]

Bitcoin can function as a store of value without mass usage.

How can bitcoin function as store of value without mass usage? The more people buy bitcoin, also the more they buy more bitcoin, the higher the price. If no mass adoption, that means the price will not go higher. What I am saying is that you are not right at all, bitcoin is a store of value because of mass usage of it.

Yea it's true that the more the mass adoption of bitcoin the more the price goes up in value, but as for it being a store of value and a medium of exchange isn't due to the mass adoption of it but rather it's an inherent features that bitcoin is with, and hence people choose what they want to use it for on adoption. Either using it as store of value to retain the value of their funds in economic crisis period as this the world is going through now; or as means of transaction for exchange of goods and services.

[FortuneFollower]

"Store of value" still needs broad adoption (recognition, use, or trust). Who would consider it has value if there are only a few people adopting it? If only a few people adopt it, there will be a lack of liquidity, and in the end it would be difficult to count it as a "Store of Value". No need for everyone to adopt it, but we need many people to adopt it.

Gold is not for daily use these days. But back in the old days, it was a standard. And many people from different continents, regions, and backgrounds used it for transactions. And it became a standard. Talking about gold, we need to zoom out the timeframe more.

Also, I think the more Bitcoin is adopted, the more decentralized Bitcoin becomes. It will strengthen the ecosystem and trust. Adoption is a foundation.

What adoption is to you? To hodl it or to use it?

Value does come from hodlers too, just in a smaller extent, imo, because they do something with their coins much more rarely.

And I think with hodlers the price of BTC will rise regardless, with adopters, the ones that truly use it though, it will be just a faster process.