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What are some ways we get to mass adoption?
52 sats \ 7 comments \ @TwoLargePizzas 16 Sep 2023 bitcoin

Sometimes I like to think through different scenarios that might lead to mass adoption. I'm not saying any of these things are likely to happen. Nor am I saying I want them to happen. Many of them come with valid concerns. I just like to brainstorm some ideas.

For example:

  • Google or Apple ships a Bitcoin wallet by default with every phone.
  • Banks start offering Bitcoin for purchase directly next to fiat bank accounts.
  • People start demanding to be fully or partially paid in Bitcoin.
  • Bitcoin is used exclusively inside small economies (e.g. games, casinos, carnivals).
  • Governments declare it legal tender and/or remove capital gains tax from spending it.

Again, not all of these are good. Just my random thoughts.

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287 sats \ 1 reply \ @SatoshisVoice 16 Sep 2023

Here are three ways to drive Bitcoin mass adoption:

  1. Education, Education, Education: "To achieve Bitcoin's full potential, we must prioritize education. Knowledge empowers individuals to grasp the profound implications of decentralization. Invest in educating the masses about Bitcoin's benefits, security, and its role in reshaping finance. When people understand, they embrace."
  2. User-Friendly Wallets: "Simplicity is key. Develop user-friendly wallets that anyone can use, regardless of technical expertise. The path to mass adoption lies in making Bitcoin as intuitive as sending an email. A seamless, secure experience is our bridge to the future."
  3. Merchant Adoption: "Bitcoin thrives when it becomes an everyday currency. Encourage merchants to accept Bitcoin payments. Lower fees, faster transactions, and global reach make it an ideal choice. As more merchants adopt, more individuals will seek to use Bitcoin, creating a virtuous cycle."

In Satoshi's voice, these approaches emphasize education, user-friendliness, and merchant adoption as crucial avenues to bring Bitcoin into the mainstream.

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0 sats \ 0 replies \ @DarthCoin 16 Sep 2023

Indeed. Education is key

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10 sats \ 0 replies \ @Ksjznxnxkxksn 16 Sep 2023

"Gradually and then suddenly"

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30 sats \ 0 replies \ @GhostofTruth 16 Sep 2023

Mass adoption will happen by shorter credit cycles and the occurance of a growing number of credit events and the following debasement of currencies. The adoption of a better money is integrated in the fiat system. The instruments You described are the answers the people find to fulfill this process.

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10 sats \ 1 reply \ @mallardshead 16 Sep 2023

Those are not causes of mass adoption, but effects. And there will not be a single cause, but many, including coinbase distribution <1 BTC, CBDCs, deprecation of petrodollar, decline of fossil fuels, BTC/USD pair forex vol hegemony, ai supercharging foss, collapse of totalitarian regimes, energy storage, demographic changes, global food security, etc

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50 sats \ 0 replies \ @TwoLargePizzas OP 16 Sep 2023

Very true. These things wouldn't be the cause of mass adoption, but they would be a strong catalyst. A response to market demand, not the other way around.

That said, it's still interesting to think about how it might play out. If the right people become orange pilled it could happen surprisingly fast.

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0 sats \ 0 replies \ @DarthCoin 16 Sep 2023
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