Bitcoin doesn’t need more hype. It needs more adoption.

[Darker45]

~snip~

There is some truth to this, but we should also not forget that many people in underdeveloped countries use Bitcoin as a currency because it is their only option since they do not have a bank account. The general impression is that Bitcoin is digital gold, but it is much more than that for those who know how to recognize its potential.

I've read a number of stories about unbanked individuals who are using Bitcoin as an alternative. While these stories may be true, I don't believe in what these articles are ultimately driving at.

Indeed, Bitcoin makes you your own bank. However, if you're living in an underdeveloped country but not poor enough that you can actually buy a smart phone, have an internet connection, have access to advanced fintech like Bitcoin, I don't believe Bitcoin is your "only option" left. Bitcoin may be the preference, but it's not used because of the lack of access to banking services.

[PVequalNRT]

I think Bitcoin isn’t for everyone; it’s not true that anyone can use Bitcoin. Bitcoin adoption has potentially reached one of its peaks; the rest is linked to derivative systems that use Bitcoin. For example, buying Bitcoin ETFs is not adoption but speculation, and the same applies to the whole system linked to futures and perpetual contracts. The true use of Bitcoin involves having a wallet and directly holding sats without any third parties involved.

Anybody that think he doesn't need Bitcoin has not seen the reason why Bitcoin is needed until they get into one problem. Some countries today have money in other countries like US, but they can't access it because they are sanction by US due to political conflict. If their money was in Bitcoin, that can never happen because you control the key to your wealth, not another man or another country.

There are vast benefits to why holding Bitcoin is very necessary, however, I think people don't care until they need it. If you see any person says he doesn't need Bitcoin then he hasn't gotten a reason to hold Bitcoin.

[Rockstarguy]

The interesting part is watching Bitcoin move from digital gold to infrastructure people can actually build on.

Native BTC lending, staking, payments, DeFi the next phase is about putting the Bitcoin people already hold to work without giving up custody.

What do you think will be the biggest use case for BTC beyond simply holding it?

Of course there is nothing to hype about Bitcoin because for sure it has the quality that can call for more adoption. The adoption of Bitcoin is not something that will take place by hyping or giving people awareness of what Bitcoin is all about.

The adoption of Bitcoin will definitely take place as a matter of time. The value of Bitcoin, the features of Bitcoin, and every other quality it has—this is what will make Bitcoin gain more adoption. I don't think Bitcoin is hyped because it has the quality that people talk about, and it is not being promoted without fact or proof of what it is all about.

[Fiasem20]

The interesting part is watching Bitcoin move from digital gold to infrastructure people can actually build on.

Native BTC lending, staking, payments, DeFi the next phase is about putting the Bitcoin people already hold to work without giving up custody.

What do you think will be the biggest use case for BTC beyond simply holding it?

What else would be the biggest use case for bitcoin other than using them to buy goods and services,the thing most people don’t understand is that everyone has their preferences.Mr A actually uses he’s bitcoin for daily transactions that doesn’t mean that Mr B would also use he’s bitcoin to make purchase,so just adhere to your own preference if only it isn’t affecting your mental health.Bitcoin adoption doesn’t only mean a lot of bitcoiners would start using their bitcoin to buy goods even investing in bitcoin also mean the adoption rate is growing.As the world evolves a lot of utilities would be added to the bitcoin ecosystem just as you’ve listed but for now just focus on your accumulating journey or payment methods.

[Rabata]

What do you think will be the biggest use case for BTC beyond simply holding it?

The initial purpose of creating Bitcoin was to enable peer-to-peer transactions through a decentralized system where transactions are possible easily without any third party. After implementing this purpose at one stage, it has started to be used to hold people's wealth. People are also holding Bitcoin to hold the value of their wealth. However, Bitcoin is not only in holding but it also used massively as a cross border transactions. There is a cross-border flow chart for several years of Bitcoin, along with several other cryptocurrencies.

https://www.bis.org/publications/working-paper-1265-defiying-gravity-empirical-analysis-cross-border-bitcoin-ether-and-stablecoin-flows.pdf

In sending remittances, a person can quickly transfer money from one country to another without the help of any intermediary bank or financial institution. For me, this is also a major advantage along with the convenience of Bitcoin's holding and its decentralized system. In the past, people could send their money from one country to another by paying a lot of fees, but now by using Bitcoin, that work is being done in a very short time and at a low cost.

[AprilioMP]

What do you think will be the biggest use case for BTC beyond simply holding it?

There isn't any. Is the honest and most truthful answer I can give—other than for storage. I can’t use it for transactions like ordinary ones, unless I’m transacting with a second party for specific purposes, but this could have legal consequences if my actions were discovered, since the ban on Bitcoin transactions hasn’t yet been lifted.
Given my situation, if I don’t use Bitcoin as a long-term investment asset, what else is there? There’s nothing else, right? And there’s nothing wrong with that, is there?

[Somegory]

Bitcoin is not lacking behind when it comes to adoption, you can clearly see the chart of Bitcoin wallet holders growing and growing no stop so that's adoption rate right there.

Although there is a fact that many don't want to accept, that many people will be better without Bitcoin, they will never join this space and start using Bitcoin for some reasons, some of them are even scared of losing their wallets and the bad news online isn't helping.

Someone have said to my face that I could wake up one day and all my Bitcoin gone, it's obviously the reason why they don't want to get involved with Bitcoin, they feel it's too risky to hold it.

[Orpichukwu]

What do you think will be the biggest use case for BTC beyond simply holding it?

The biggest use case aside from holding is for it to be allowed to be spent freely without interference from any legal entity that considers some coins stained and others clean.

The interesting part is watching Bitcoin move from digital gold to infrastructure people can actually build on.

Native BTC lending, staking, payments, DeFi the next phase is about putting the Bitcoin people already hold to work without giving up custody.

I like to see innovation happen, but I don’t like the ideas behind binding on top of the bitcoin blockchain, ordinals and the rest of them. Lending is also okay, but that’s also another way of handing your bitcoin into a third party with the hidden interest higher than what’s borrowed.

[MainIbem]

Bitcoin is not lacking behind when it comes to adoption, you can clearly see the chart of Bitcoin wallet holders growing and growing no stop so that's adoption rate right there.

Although there is a fact that many don't want to accept, that many people will be better without Bitcoin, they will never join this space and start using Bitcoin for some reasons, some of them are even scared of losing their wallets and the bad news online isn't helping.

Bitcoin can never lack behind when it comes to adoption because of it's features, it's decentralized, a good inflation hedge/ storage for value, gives self custody name it, so people would always see reasons to fall back to it even if they're skeptical for years before having avm second thought like most people who's adopted it did. Asides Bitcoin there are other investment option so it's left for everyone to research and know which is best for them, but Bitcoin remains a very good option.

Someone have said to my face that I could wake up one day and all my Bitcoin gone, it's obviously the reason why they don't want to get involved with Bitcoin, they feel it's too risky to hold it.

Only people who don't understand how to secure their wallet would say such so the who told you that is ignorant.

[Dr.Bitcoin_Strange]

The biggest use case of Bitcoin is payment purpose

Not even close! Not with 400k transactions a day in the chain and 70 billion in trading on exchanges!
Trading is first, investment is second, payment might be 3 if we're lucky.

Thank you. Going by this, you are right, before reading your comment I had never consider trading as one use case of its own, I always classified it to be same as investment because there was an old topic which discussed whether trading is same thing as investment and some persons said it is, since then, I just had the believe that it is same.

[Catenaccio]

Bitcoin can never lack behind when it comes to adoption because of it's features, it's decentralized, a good inflation hedge/ storage for value, gives self custody name it, so people would always see reasons to fall back to it even if they're skeptical for years before having avm second thought like most people who's adopted it did. Asides Bitcoin there are other investment option so it's left for everyone to research and know which is best for them, but Bitcoin remains a very good option.

Intelligent people, intelligent companies, institutions and governments will do choose Bitcoin and ignore shitcoins. Then they have reasons to choose Bitcoin than fiat currencies, governmental bonds, real estates, stocks and gold which are traditional assets. Because they are smart enough to do their research about Bitcoin, understand about Bitcoin, and realize its truly high value as well as potential to grow more in value and price in the future.

This chart is one of quickest ways to realize dominating ROI of Bitcoin against the others. It only allows to zoom out maximally to 10 years but hopefully the site owner will allow to zoom out for more than 10 years.
https://casebitcoin.com/charts#roi_chart

[Italian Panic]

It depends on what sort of adoption we’re talking about, because if we’re referring to adoption by knowledgeable individuals, we have most likely already reached the peak, by which I mean people who are capable of self custody of Bitcoin without relying on third party services. New adopters would mainly be young people coming of age who are taking an interest in the subject. Whereas, in the case of adoption linked to speculation on the spot price or on futures and derivatives, that comes and goes and is cyclical. Everything could change if government funding were to be provided.

[Mr Reporter]

Well Bitcoin has never been known for being hyped. The only hype that Bitcoin gets itself is that it will forever be the first cryptocurrency. I know what others may say, like its features and its use but saying those stuff in a way that can get other folks interested is hype. But the truth about Bitcoin since its early discovery or early stage, Bitcoin has continued to push on while proving all those who criticise it to be wrong. Best to say when it comes to hype, it's not about what a cryptocurrency offers, but about its reputation, values, and the trust that people put into it......

The concept people failed to understand is that bitcoin was never meant to be hyped at first which it still stand…unlike most altcoins which are still dependent of surviving by the hype because if you understand how most altcoin survives by constantly convincing people to buy, you hear such things as New partnership, new listing, new roadmap, all that noises here and there, Bitcoin reputation was not just a year reputation bitcoin has been surviving all the way over 15+ years with out a single hype it pump and dump all the way, now this is what we call proof of work in a real sense…

[ultrloa]

Bitcoin can never lack behind when it comes to adoption because of it's features, it's decentralized, a good inflation hedge/ storage for value, gives self custody name it, so people would always see reasons to fall back to it even if they're skeptical for years before having avm second thought like most people who's adopted it did. Asides Bitcoin there are other investment option so it's left for everyone to research and know which is best for them, but Bitcoin remains a very good option.

Intelligent people, intelligent companies, institutions and governments will do choose Bitcoin and ignore shitcoins. Then they have reasons to choose Bitcoin than fiat currencies, governmental bonds, real estates, stocks and gold which are traditional assets. Because they are smart enough to do their research about Bitcoin, understand about Bitcoin, and realize its truly high value as well as potential to grow more in value and price in the future.

This chart is one of quickest ways to realize dominating ROI of Bitcoin against the others. It only allows to zoom out maximally to 10 years but hopefully the site owner will allow to zoom out for more than 10 years.
https://casebitcoin.com/charts#roi_chart

Shitcoins is just major disturbance on their operation and they are on losing side if they are going to diversify with that bad option. That's why usually we see major institutions go directly on Bitcoin, because they know that this is the most well established coin compare on other assets out there.

They provable made a good research about Bitcoin, that's why many of them join and now reaping good rewards with their earliest participation and continuous accumulation.

Also the chart you shared is so interesting to look at.

[Grease5000]

The interesting part is watching Bitcoin move from digital gold to infrastructure people can actually build on.

Native BTC lending, staking, payments, DeFi the next phase is about putting the Bitcoin people already hold to work without giving up custody.

What do you think will be the biggest use case for BTC beyond simply holding it?

I think payments will remain one of the biggest use cases for BTC beyond simply holding it. Though Lending and DeFi can add utility  but they can also introduce more risks and complexity.

For me, the main part is if bitcoin can become useful for everyday payments and settlement while also preserving the core principles of self custody and decentralization. If that happens at scale, BTC moves from  a long term asset to something people can actually use without needing to sell it.

[JoyceBTC]

I think Bitcoin isn’t for everyone; it’s not true that anyone can use Bitcoin. Bitcoin adoption has potentially reached one of its peaks; the rest is linked to derivative systems that use Bitcoin. For example, buying Bitcoin ETFs is not adoption but speculation, and the same applies to the whole system linked to futures and perpetual contracts. The true use of Bitcoin involves having a wallet and directly holding sats without any third parties involved.

Anybody that think he doesn't need Bitcoin has not seen the reason why Bitcoin is needed until they get into one problem. Some countries today have money in other countries like US, but they can't access it because they are sanction by US due to political conflict. If their money was in Bitcoin, that can never happen because you control the key to your wealth, not another man or another country.

There are vast benefits to why holding Bitcoin is very necessary, however, I think people don't care until they need it. If you see any person says he doesn't need Bitcoin then he hasn't gotten a reason to hold Bitcoin.

Surely having or using bitcoin has its advantage but not everyone must need or use bitcoin. Bitcoin has become well known, being adopted by so many, yet to be adopted by some persons also and will also not be adopted by others because not everyone feel like they really need it but those who know the importance of bitcoin, make use of it and others also intend getting it.

[moneystery]

The interesting part is watching Bitcoin move from digital gold to infrastructure people can actually build on.

Bitcoin was never a digital gold, it was a decentralized currency designed for transactions. The term 'digital gold' is just a term used to refer to Bitcoin of its limited supply and its potential as a store of value, but from the beginning Bitcoin's function was a digital currency and remained that way.
What you mean by infrastructure where people can build anything may refer to 'DeFi' where infrastructure can be used to build various financial applications and services, but it's not Bitcoin, so you need to distinguish the two things because they're different.

[Tamaperdana]

Snip

What do you think will be the biggest use case for BTC beyond simply holding it?

What's certain and clear is that Bitcoin is incredibly useful as a store of value. I think this is the best and most useful thing at a time when inflation is constantly eroding our wealth. But by storing some of our assets in Bitcoin, yes, that's clearly very good. Another benefit, which I'm experiencing right now, is transparency and independence. As far as I know, Bitcoin has a transparent blockchain system, which is very good. Furthermore, its decentralized nature is also a key advantage. With this system, we no longer rely on third parties or banks to store our wealth. Bitcoin can also be used as a means of payment, but for now, I believe this is still only feasible for certain individuals. I mean, if implemented on a large scale, it's obviously a bit complicated.

But please correct me if I'm wrong on this, because my assumptions could certainly be wrong.

[darkvector-dev]

I think the "hype vs adoption" debate misses a key point: hype often precedes adoption, but only if there is an infrastructure that sustains it.

Right now, we are still stuck in the noise about price and macroeconomics. In my opinion, the biggest friction for mass adoption is still the USER EXPERIENCE of holding and tracking purchases. People aren't scared just because they don't believe in BTC (of course there is a big part that doesn't believe, and prefers to hide cash under the mattress), but because of the hassle of self-custody, managing multiple exchanges, keeping records, declaring taxes and paying them. That is, in my view, the real "job."

True adoption will happen when these things become simple, boring, and secure enough that people stop fearing them.

[aoluain]

Re: Bitcoin doesn’t need more hype. It needs more adoption.

Its doesnt really matter about the hype Bitcoin gets. There has been plenty of hype in the past
and Bitcoin hasnt suffered negatively from it so any further hype positive or negative will see
more of the same in term of Bitcoin. We have all been through the hype.

I wouldnt worry about Bitcoin adoption either because as with the past it will happen organically,
more and more people in the future will come to see the benefits owning Bitcoin can offer.