Post
Topic
Board Bitcoin Discussion
Re: My Thoughts on Bitcoin Adoption - I Could Be Wrong, So Let's Discuss!
by
Drawesome
on 04/08/2023, 21:35:20 UTC
  • Incentivize Adoption in El Salvador and other local places: If a place doesn't accept Bitcoin, walk away and do not touch your FIAT. If you dealt with an employee , make sure the owner finally knows about the loose. Tourist are not numerous enought to put a pressure here, let's onboard salvadoreans in this.
Have you tried boycotting fiat yourself? You'll very quickly start starving.


  • Educate and Engage: Let's  step out of the comfort zone and educate, give, and promote the entry of new local actors.
This would just make Bitcoin look like a religious cult. Good inventions don't need evangelism. No one went door to door to promote television, the Internet or automobile. Poeple rushed to adopt them because they offered a clear advantage.
I don't say it's easy, but at least put some pressure and not just take the VISA and pay in fiat at first, no. For employees, it's easier to say no and not complicate themselves.
Bitcoin is not an invention like gunpowder or the steam engine; rather, it is a complex system that evolves depending on the agents that influence it. If the majority of incentives for agents using Bitcoin are speculative, it will be easy to replace it with something else. There is something religious about Bitcoin that makes it unique and irreplicable: its anonymous and selfless creation by Satoshi, as if he were a messiah. Don't engage in evangelism while all others will (scammers, shitcoiners, CBDCs, and Banking 2.0) and wait for the outcome.


I agree with your other points but don't understand what you're saying here. What monopolies are you referring to? How does someone support Bitcoin and "slow things down" and what does that have to do with monopolies?
You're right, it's hard to understand. I made a change and included an example with Salvadorans who actively receive tourists and offer services in BTC. They are not motivated to share their cut with other Salvadorans providing services. This is just a hypothetical example; perhaps in the case of El Salvador, Bitcoiner tourists are not significant enough for this to become an actual occurrence.

There are many shortcomings of Bitcoin at the moment lets just accept it with open heart. Its because of these shortcomings bitcoin is finding it hard to make it to global adoption.

Apart from complexity there are few other things like price volatility and settlement time are of great concerns for merchants to adopt it as payment system. There are solutions like LN that kills the issue of settlement time but its not accept by the community.

Till the time these shortcomings are not addresses chances are rear for Bitcoin to make it to global adoption.


I paid on-chain in El Salvador with 0 confirmations because the Lightning Network wasn't working. Obviously, this is not a good practice, and you have a point. If BTC is complicated, LN is another level. Let's hope these shortcomings, as you said, get better.

4.OP, you should also know that bitcoin isn't legal yet in some countries which will be a big challenge for bitcoiners to teach people about bitcoin in such country. What you said is nice but it can only be achieved in countries that bitcoin is legal and I believe that in those countries that cryptocurrency is legal the adoption is increasing day by day.
Those countries where it isn't legal are probably the ones where more people need it. There are many flashy shows and stories, but the hope is that those who need it are using it discreetly without drawing unnecessary attention to it. That was supposed to be the main point.