When might we see the mass adoption? \ stacker news ~bitcoin

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535 sats \ 20 comments \ @stack_harder 3h bitcoin

Maybe not a full btc standard, but a situation where most things can easily be bought by paying in BTC, but locally and online.

a decade, two decades? never?

Sure we can spend sats now and find workarounds, but the average person on the street hasn't got a fucking clue.

Which countries might get there first?

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105 sats \ 3 replies \ @Undisciplined 2h

I’m going to say that within 5 years it’ll be possible, but inconvenient and expensive, to make almost all of your purchases with bitcoin.

Meaning that there are available merchants in your area or reasonable shipping options, but most merchants don’t accept bitcoin yet.

42 sats \ 2 replies \ @kepford 2h

The thing is... even it it is easy and cheap... that doesn't mean people will want to spend something they don't understand. Those that hold it likely want to hold it because it is the problem they actually have. Fiat works for spending but sucks for savings. Yeah, people are dumb and don't realize why they need bitcoin but that's the point.

I think most bitcoiners skip over the problem step. Most people don't see the problem space. You can't sell a solution to a problem that is invisible.

5 sats \ 1 reply \ @Undisciplined 2h

I expect it to unfold gradually.

First, will be those of us who are eager to use our bitcoin buying from merchants who want to accept it.

Then, more merchants will start accepting it, which will lead to discounts for bitcoin, which will attract new spenders.

42 sats \ 0 replies \ @kepford 2h

I do as well. Gradually then suddenly.

172 sats \ 2 replies \ @kepford 2h

I see a few options as to what could trigger mass adoption.

Non-US nations (people) adopt it out of necessity either due to the collapse of their currency or censorship. This will cascade over time.
US dollar collapse which leads to world wide depression (Mandibles type scenario)
Slow adoption of bitcoin as a functional savings tech(like gold) leading to a critical mass. Then people that get bitcoin fully gain traction using it as money. Most people start getting paid in bitcoin and spending bitcoin.

When? Who knows. I doubt its 10 years. Maybe #1 but I don't think the other two options happen that soon. Somewhere between 25 and 100 years is more likely.

I've written about this before. Most of us need to adjust our time preference and realize we are very early and not be little babies because everyone doesn't see it. Most of us such at selling anything that is new or different. Myself included. We just don't like to admit it.

3 sats \ 0 replies \ @BlokchainB 2h

I agree with this comment

0 sats \ 0 replies \ @kepford 2h

I'll add this. The bullish case for bitcoin seems to be slowly playing out. That's my opinion.

77 sats \ 2 replies \ @hasherstacker 3h

WHEN? When our mindset change and start focusing on what really matters most.

WHO? Individuals and communities. One person at a time, one merchant at a time.

WHICH COUNTRIES? Very hard for governments.

And thank you for asking...

0 sats \ 1 reply \ @stack_harder OP 3h

do you find it weird that Lugano has so many btc merchants?

0 sats \ 0 replies \ @hasherstacker 32m

That's just a starting point. Setting a good example. If Lugano has managed to have that much merchants, anyone else can do it. Orange pill enough individuals and merchants. Eventually, we're going to get there, in a couple of few years.

64 sats \ 1 reply \ @Coinsreporter 3h

When we start denominating all ~Goods_and_Gadgets in Sats.

0 sats \ 0 replies \ @fiatbad 3h

Seems far-fetched, considering even the most hard-core "Bitcoiners" I know are unwilling to inconvenience themselves enough to do this today. Which means normies won't even do it even when pushed to the extremes as @teemupleb suggested in his comment here.

I agree with Lyn Alden when she talks about how MoE cannot happen as a charity. But I think can happen as a revolution.

29 sats \ 2 replies \ @teemupleb 3h

When the noose of financial surveillance with KYC/AML gets so tight, and when separating “clean” coins from “tainted” coins becomes too impractical and ridiculous, normies will be pushed to Bitcoin circular economies.

0 sats \ 1 reply \ @stack_harder OP 3h

i mean, from what i see from most normies, they don't care much, they're walking right into a digital prison and too busy watching tiktok to notice

0 sats \ 0 replies \ @teemupleb 3h

Depends of course how we measure “mass adoption”.

40-50% of the world population using bitcoin for living expenses daily would be quite massive as well.

It will be a large parallel economy, a force to be reckoned with.

7 sats \ 0 replies \ @standard_sats 1h

I have a weird personal inclination that, as the Bitcoin fiat value continues to increase, it might push people to draw back on spending Bitcoin. And we may not hit a full Bitcoin Standard if people do not readily spend Bitcoin for things.

And for countries, I think the most they'd do is to make Bitcoin a reserve asset. Going Bitcoin Standard for countries will mean that "Politicians will no longer print money with their friends,". I doubt if they'll ever give that up.

0 sats \ 0 replies \ @Solomonsatoshi 1h

The dollar is in decline with US debt and empire already looking insolvent. China now dominates international trade with annual trade surpluses of $1T plus. Increasingly trade is denominated in Yuan and transacted via CIPS and mBridge completely outside of USD/SWIFT legacy hegemony. The decline of the USD does not automatically result in replacement with Bitcoin. In a world where China is increasingly dominant some jurisdictions might prefer to use, or at least allow the use of Bitcoin but the need to trade with China may even prevent that. The 70% of humanity who live under autocracies are already explicitly prohibited from using Bitcoin as a MoE while the other 30% living under 'liberal democracies' are hit with impossible to comply with tax recording and tax on transactions denominated in Bitcoin. Almost all governments are either explicitly banning MoE or making it impracticable.because they are determined to preserve their fiat monetary hegemony over MoE. Most Bitcoiners ignore these facts because there is no obvious or easy solution. As a KYCED, taxed speculative commodity Bitcoin is increasingly held and controlled by corporate entities. As this trend continues the viability of Bitcoin security funding from transactions fees becomes increasingly untenable.

0 sats \ 0 replies \ @anon 49m

5-10 years. People need to start using bitcoin directly or at the very least start using layer 2's like lightning network and spaces protocol.

0 sats \ 0 replies \ @Artilektt 1h

In the US I think a big factor is that any spending of BTC triggers cap gains. Now whether people choose to report it or not is a different story but I wouldn't want to get caught in an audit. A huge step would be something like no cap gains if the purchase is under some $ limit.

0 sats \ 0 replies \ @SatAttack 1h

It will be faster than we think. There’s lots of talk about the bitcoiner, and the oncoming ones, not spending because why spend bitcoin. But we will see merchants create that motivation for us/then. As companies Hoover up BTC playing fiat games supply will eventually struggle to keep up. Merchants will want bitcoin andit will then become obvious that they’re going to have to get it from us.

I’ve always thought the best natural tool bitcoin has is human greed. When it becomes too difficult to buy those who can will have laws changed so they can farm bitcoin from us the consumer and then it’s over. Money and science goes into the effort of collecting sats and competition to do so will spread wildly.

Merchant greed will be what brings real big adoption and it’s closer than most realize I think