Bitcoin’s future depends on public acceptance

[BeeTeeSea]

Yes it does, thats why we need to teach people to use it and so on, and an official lightweight wallet.

[1714530071]

1714530071

[BittBurger]

still bitcoin is not yet accepted by mainstream and more work needs to be done for that

The problem is you've got people like Peter Todd taking that exact quote and calling it an abhorration to the Bitcoin mentality.   He doesn't want mainstream.

Thats the problem.  Core developers don't want mainstream.   He said he was perfectly happy if only 10% of the world ever used Bitcoin.   And that the other 90% can keep using PayPal.  ]

This is why they are pushing off important enhancements like transaction times and micropayments and other things which would transform consumer adoption and innovation.

They dont want it.

And I will say it again:   This is why developers should not be making product development decisions.  

I get that they want to stay true to Bitcoins principles.  I do as well.  But its a little scary when one of the main developers for Bitcoin says he doesn't give a shit if mainstream ever uses it.

Simply put:  Bitcoin development priorities should be decentralized.  Everyone should have a voice.  There should be a voting mechanism whereby the *community* decides what is top priority, and what goes into the protocol next.  Obviously developers will have a say in whether its technologically feasible.  But developers should not be making decisions on enhancements and the direction of the product.  They have zero involvement "out in the field".  They have no idea what the company in Africa doing SMS bitcoin needs.  It could be something tiny, and harmless, and it will never get done because Peter Todd doesn't know about it, or doesn't agree with it.  

In my opinion this is the biggest hindrance to public acceptance.

-B-

[R2D221]

Simply put:  Bitcoin development priorities should be decentralized.  Everyone should have a voice.  There should be a voting mechanism whereby the *community* decides what is top priority, and what goes into the protocol next.

In other words, by "voting", you mean a way for one group of people to force another group of people to do something that they don't want to do.

Bitcoin uses something better than voting. It is called a fork. If you don't like the protocol, then you can create a fork, and everyone that agrees with you can use your branch of the fork. If your branch is more popular than the other branch, then it is in each person's best interest to use your branch, though it is not required.

Forks are bad idea, because they fragment the system. If you have 50% of Bitcoin users accept the fork and 50% using the pre-fork version, then the number of users are reduced in half.

We need to reach a consensus somehow. If the most popular branch wins, then that's comparable to voting (which I don't think it's wrong at all).

[TippingPoint]

The rate of Bitcoin adoption could also be increased if the wallets were made more interactive.  Streaming transactions inspired by http://blockchain.info/ and charts that show the amount of Bitcoin transactions over the previous day or week.  And of course some links to a few purchase options.

Get the wallets on their computers.  Encourage people to think and dream.

[dankkk]

Simply put:  Bitcoin development priorities should be decentralized.  Everyone should have a voice.  There should be a voting mechanism whereby the *community* decides what is top priority, and what goes into the protocol next.

In other words, by "voting", you mean a way for one group of people to force another group of people to do something that they don't want to do.

Bitcoin uses something better than voting. It is called a fork. If you don't like the protocol, then you can create a fork, and everyone that agrees with you can use your branch of the fork. If your branch is more popular than the other branch, then it is in each person's best interest to use your branch, though it is not required.

The problem with a fork is that it is a defacto way of voting, but instead of each person having one vote, each dollar (or other unit of wealth) has one vote. The success of a potential fork is essentially determined by the miners, if the miners accept the fork then they will adopt it and secure the new, forked network, while the old one will be left much less secure and likely unusable.

[logger]

Either that or "only the black market matters", one of those two possibilities...

[cccarnation]

Either that or "only the black market matters", one of those two possibilities...

If the public doesn't participate in black markets, then who does?

[MoonRise]

And that's what we are gonna make.Make more and more people know bitcoin and adopt it in their daily life

[Rogue_Transmission]

Nothing new here. For me it's obvious that Bitcoin’s future depends on public acceptance. Can't understand why you people need an extra article for that.

[polunna]

Not necessarily. Bitcoin could simply be a tool of the banks and large institutions, and it would still be massively valuable and successful.

[bambino]

Yes but payment and merchant are just our tools to get on mainstream. The real uses of cryptocurrency have yet to be discovered

[SF-Man]

Of course, who else will accept bitcoin? If public doesnt accept bitcoin who would?

[ShintoshiBTC]

How can the public accept bitcoin? They dont even know what it is!

[blatchcorn]

The public does not need to accept it yet, firstly we must be accepted by every major business and/or government

[TippingPoint]

The application that will fuel the next wave of the public acceptance of Bitcoin is sports betting.  The Bitcoin versions may become more popular than using "bookies" or government sponsored betting.  Even people who do not bet on sports will become aware of its advantages.

[thedonkdonk7]

It is true. Market value of any product or any service depend on public demand. Same to Bitcoin. If the demand of Bitcoin rise, the price will rise too.

[Bobblehead Pete]

How can the public accept bitcoin? They dont even know what it is!

How can we reach worldwide recognition?

[Strawbtcerries]

Indeed. We need all these clueless people to start using Btc, the right reasons are there, we just need them to use it anyway.

[gamblethis]

Every product that involves money always dpends on public's acceptance.

[rockyrotcoin]

How can the public accept bitcoin? They dont even know what it is!

How can we reach worldwide recognition?

Thats the problem of the bitcoin peeps. They should know how to solve this.