Few things to put in place before Bitcoin can go "Mainstream" the right way

[Ucy]

It's important to understand that i'm basing this post on the Bitcoin rather than fiat principles This means that whatever that is suggested should atleast be non-custodial even if platforms aren't well decentralized, while the highest standard should be very decentralized + adherence to all Bitcoin principles


Let's be honest, governments won't like the idea of legalizing things like Bitcoin without being in charge. They will want to control things like price, developers, codes, softwares, etc to ensure that everything is according to their laws. And laws are meant for the good of societies. Besides, that's what being governments is about — to govern or rule according to laws .. So, it's more that likely they will want Bitcoin to operate according to their laws otherwise it won't be allowed in their area of jurisdictions/control, but they may allow their citizens to use it outside of the jurisdictions.

Unfortunately, if we allow governments to control things, it will defeat the purpose of Bitcoin, as everyone may need  permission to run stuff like node, and the one who gives the permissions, controls those the permissions are given to, which consequently means centralization of control and power.

We could prevent this by self-regulating to the extent that governments will see no reason to control Bitcoin, since one of the main reason they want control is to keep things safe for users/society. So, we could handle this ourselves to give them no excuse to take control. If they say, this is why we want to take control, we inform them that their concerns have been met or taken into consideration.


Here are things we need to do penetrate the nations without giving governments any reason to take control

* Firstly, we need a decentralized and privacy-preserving alternative to kyc which will be used for exposing and preventing scammers, thieves, sybil issues, etc

* We need fast and "feeless" auxiliary Bitcoin systems, like sidechains, to complement the main chain. Lightening Network must never be the only option.  Doing so will be against competition and free market. And for the sake of principle multiple options should be encouraged incase one fails or doesn't serve well

* We need easy-to-use decentralized exchanges that include p2p national bank fiat for Bitcoin transfers. This has to be transparency, with possibility to include decentralized alternative to kyc otherwise governments will have excuses to say nah. And with the decentralized exchanges, bitcoin can easily be transfered anywhere in the world for fiat currencies

* We need Marketplaces that focus more on local trading of goods and services. This doesn't mean international trading won't be allowed. Nothing is restricted as long as Bitcoin and its principles are concerned and as long as users aren't being evil. The systems have to be transparent though, with possible inclusion of the kyc alternative.



These should be the main area of focus if we want to see more usage according to the principles of Bitcoin.
It can also be done in ways that sufficiently reward  people who invest to build and operate the platforms. Ofcourse, investors and operators can be sufficiently rewarded without going the route of things like centralized/custodial exchanges

[Ambatman]

Let's be honest, governments won't like the idea of legalizing things like Bitcoin without being in charge.

Not really
There's difference between legalizing and making legal tender
Bitcoin is legal in quite alot of country so nothing new.

And laws are meant for the good of societies. Besides, that's what being governments is about — to govern or rule according to laws

And here I thought leadership was to serve.

as everyone may need  permission to run stuff like node, and the one who gives the permissions, controls those the permissions are given to, which consequently means centralization of control and power.

Running Nodes don't work like that
The best they can do is make running nodes illegal and there are ways around it
Not to mention the world government are not united.

self-regulating to the extent that governments will see no reason to control Bitcoin,

This is wishful thinking
First who's regulating? When there's no head
And find a reason?  Who wants something will always find a reason
No matter how lawful you act.

we need a decentralized and privacy-preserving alternative to kyc which will be used for exposing and preventing scammers, thieves, sybil issues, etc

Lol like a decentralised KYC?
KYC, Privacy or decentralization don't mix
They contradict.

We need fast and "feeless" auxiliary Bitcoin systems, like sidechains, to complement the main chain.

I think I would stop reading further here
Because I'm shocked someone would even think about No fee with Bitcoin
When it plays a role in its security.

[348Judah]

It's important to understand that i'm basing this post on the Bitcoin rather than fiat principles This means that whatever that is suggested should atleast be non-custodial even if platforms aren't well decentralized, while the highest standard should be very decentralized + adherence to all Bitcoin principles

Everything about bitcoin has been made possible for us to engage it use in a decentralized manner, but users feels or decided to choose using its in such a way that they go through a centralized exchange before they can maximize every opportunity of using it, this is why there are decentralized exchanges and we can also make use of a non-costodia wallet to save our save of all unnecessary stress of how to use Bitcoin independently.

[hd49728]

* Firstly, we need a decentralized and privacy-preserving alternative to kyc which will be used for exposing and preventing scammers, thieves, sybil issues, etc

With Bitcoin, you can use it without KYC on no KYC exchanges and platforms.
About thieves, it's responsibility of each Bitcoin users to secure their devices, wallets and wallet backups so that they can secure their bitcoin. Additionally, they must have good practice for privacy in order to avoid wrench attacks.

Find no KYC exchanges and platforms.
https://kycnot.me/
https://bitlist.co/

How to manage bitcoin like a whale?

[Curious T]

* Firstly, we need a decentralized and privacy-preserving alternative to kyc which will be used for exposing and preventing scammers, thieves, sybil issues, etc

If Bitcoin is going to remain fully decentralised and pseudonymous, there is no way to achieve this. Doing anything else goes against the original plan of Bitcoin. Critics and the government would always find a reason. They have made up so many reasons like electricity consumption and harming the environment. They also made up this "breeding ground for criminals" narrative. It is easier to catch a criminal who does transactions on the Bitcoin network than a criminal who knows how to exploit the fiat system and clean his money.

This has to be transparency, with possibility to include decentralized alternative to kyc otherwise governments will have excuses to say nah. And with the decentralized exchanges, bitcoin can easily be transfered anywhere in the world for fiat currencies

What alternatives do you have in mind? These are theoretical thinking that are not practical. The alternative to KYC is no KYC. The moment we create things that can identify people or their identities, then there is KYC.

* We need Marketplaces that focus more on local trading of goods and services. This doesn't mean international trading won't be allowed. Nothing is restricted as long as Bitcoin and its principles are concerned and as long as users aren't being evil. The systems have to be transparent though, with possible inclusion of the kyc alternative.

The alternative is there; people just need to use it. All people need to do is have an option to accept payments in bitcoin, and buyers need to be willing to make payments in bitcoin. You can't force people to do what they don't want to do.

[Zaguru12]

* Firstly, we need a decentralized and privacy-preserving alternative to kyc which will be used for exposing and preventing scammers, thieves, sybil issues, etc

If Bitcoin is going to remain fully decentralised and pseudonymous, there is no way to achieve this. Doing anything else goes against the original plan of Bitcoin. Critics and the government would always find a reason.

I usually don’t understand what people want actually when they ask for privacy preserving alternatives again from bitcoin because what do they actually want apart from the already existing methods to actually enhance their own privacy. Do they actually want bitcoin network to be privacy oriented network? If bitcoin has actually been that I think they would have been not this accepted like this because government policies would have been clamping them down by now like the privacy oriented coins like Monero.

Also if the network is actually private then bitcoin will be a more secure place for criminals to exploit. So bitcoin might not be perfect but it’s actually better like this

[d5000]

* Firstly, we need a decentralized and privacy-preserving alternative to kyc which will be used for exposing and preventing scammers, thieves, sybil issues, etc

Some months ago I started a thread about an ethical mixer / swap protocol which may be close to what you propose.

It is not a direct alternative to KYC. But it is a method for exchanges to prevent getting dirty coins without having to compromise the privacy of the users.

For a "decentralized KYC alternative" the only method I know are pseudonym parties: People can exchange pseudonyms at events like Bitcoin meetings or hackerspaces. This can be useful in situations where not much money is involved, but is probably too weak to prevent scams completely because a person could try to "get" several pseudonyms at such a party.

[tbct_mt2]

These should be the main area of focus if we want to see more usage according to the principles of Bitcoin.
It can also be done in ways that sufficiently reward  people who invest to build and operate the platforms. Ofcourse, investors and operators can be sufficiently rewarded without going the route of things like centralized/custodial exchanges

Goes mainstream is very amazing but it must be achieved in natural ways, not by any intention of anyone. By having approvals for Bitcoin Spot ETFs in January 2024 in the USA, Bitcoin has already achieved very important thing for its mainstream snowball. The most important and biggest barrier was broken for Bitcoin going to mainstream, then the snowball already began since that time, more than two years so far. In this bear market about last one year, Bitcoin has shown its impressive strength and you can expect more amazing show of Bitcoin in a next bull market.

Let Bitcoin grows naturally and on your side, you can focus on yourself, from knowledge, technical and practical skills for securing your wallets, bitcoins and your investment for building up your portfolio and hold your bitcoins well with time over many stress and challenge.

[Rustam Meraj]

However well the community behaves and however highly developed our self regulation capabilities, a centralized authority will never sit well with an open source financial system that they can never freeze, tax, and mess around at will. Constructing decentralized alternatives to KYC and increasing infrastructure of sidechains are both great technical ends, but we should understand that their use is to fight back, and is not to pursue political approval. Actual penetration of countries will not come through attempt to appease regulators through compromise, but other through developing parallel economy of Bitcoin in ways that are so sound, private, and frictionless that on other hand government restrictions will not be possible. It should also always center on absolute resistance of censorship since any protocol that is dependent on permission or compliance will ultimately end up being co-opted and stamped out by state.

[ColdLava40]

Don't you think you are pushing your thoughts too far?

All these are just over complicated as the government even if they try won't be able to control Bitcoin. What they can control? Exchanges. Its very easy for them to control where the money lies, but they won't be able to touch BTC it self.

It's called decentralized for a reason. Even if they don't legalize the use of Bitcoin, it doesn't stop people from using it. I'm till trying to understand what laws you speak of.

Even if exchanges could try, they still might not be able to get all dirty coins from moving in. Scammers are becoming even more smart, working with tools much advanced.

[Dunamisx]

* Firstly, we need a decentralized and privacy-preserving alternative to kyc which will be used for exposing and preventing scammers

We should not be moved by all these, scam had been existing before aged and will always be, Bitcoin or cryptocurrency is not what introduced scam for the people, the worst form of it began long ago in fiat currency, they do nothing about all forms of fiat ftaudulency.

* We need fast and "feeless" auxiliary Bitcoin systems, like sidechains, to complement the main chain. Lightening Network must never be the only option.  Doing so will be against competition and free market. And for the sake of principle multiple options should be encouraged incase one fails or doesn't serve well

This is not even part of the reasons to stop or determine Bitcoin becoming a mainstream digital currency, we have the Bitcoin lightning network introduced to make transactions more suitable for everyone to use, it is fast, reliable and cost less.