Challenges for Bitcoin for Mass adoption

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troubled soul

👁️ Quiet Authority
Aug 23, 2020
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  • price volatility
  • Bitcoin needs smartphones/computer/laptop/tablet any kind of device to work , Some time it is hard poor country market
  • Time To Confirm A Transaction
  • Supporting More Transactions Per Second For Bitcoin
  • how to reduce criminal fraud/activity
  • To complex to understand for Non tech people in the beginning
  • Lack of standardisation
  • Energy Consumption
 
More shitcoins
More pumps
More printing of tether so the price can reach $100K soon‌

To the moon! LOL
 
Sorry but I do not believe in crypto.

sure I believe in a ledger to‌ solve real world problems - or perhaps for audit trails and so on - but‍ whatever ledger doesn’t cost anything to setup.

why is there value in Bitcoin - just⁠ because believe the hype on social media? Tether is printing away - it’s like a⁤ central bank I’m with hyper inflation - but worse - no accountability
 
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subscriber growth of /r/Bitcoin

You can hate it or love it ...but You can not‌ ignore it...
 
The funny thing is that Bitcoin is obsolete already, yet from a market cap/adoption standpoint‌ it hasn't even started... Too bad the development has been taken over by the deep‍ state through Blockstream. It should've been what Monero is now - fast, cheap and untraceable.⁠

We now know that BTC is correlated to the stock market and that the "store⁤ of value" argument was total horsesh*t:

https://www.institutionalinvestor.c...More-Correlated-to-Stocks-And-It-s-Your-Fault
 
what you might consider as signs of obsolescence are actually⁤ features that make it what it is - rock solid ground and (a hottest candidate⁣ for) the next world reserve asset
there is no reason why it should be fast⁢ or cheap
I agree that more privacy and untraceability on the base layer would be︀ nice but it already happened this way and won't be undone

IP is obsolete, HTTP︁ is obsolete, SMTP is obsolete and yet they are still here and will be
 
None of them are obsolete, they are‍ continually being improved, IPv6, HTTP2/3, and mail (SMTP) with DKIM, SPF, etc. - unlike Bitcoin,⁠ where a Rothschild-funded company called Blockstream essentially did a coup, hindered the development and created⁤ a half-assed solution called Lightning network for a problem that didn't even exist in the⁣ first place. Which by the way no one even uses because it sucks.

In the⁢ meantime you have XMR which is exactly what Bitcoin was created for (digital cash); it's︀ fast, cheap, untraceable and reliable. And that's precisely why they want to ban it, because︁ it's not under their control.
Read the BTC whitepaper: "A purely peer-to-peer version of︃ electronic cash would allow online payments to be sent directly from one party to another︄ without going through a financial institution."
Of course electronic cash needs to be fast and︅ cheap, otherwise what's the point? Might as well use Western Union then.
 
sure, these are softforks and new layers on top‍ of the original standards - just like segwig, taproot, lightning, ....

like IPv6 which is still waiting for serious adoption after all those years - you⁢ can easily say that "no one even uses it"

if you don't like LN then︀ don't use it, improve it, use a competitor or realize you don't need it personally︁ - let the market decide - "this is the way" 🙂, the only way

again, use it, promote︄ it, support it - if it has value it will thrive
it's a cool project︅ which I wouldn't bet on but who knows

that's exactly︈ what BTC does right now (for me) and I'm happy as never

I don't agree... no problem for me

no, it's a centralized service that survives only because it︋ uses the desperacy of people that have no choice (or didn't realize yet they have)︌
 
there wont be mass adoption at all.
bitcoin is a ponzi and nothing else.
no store of value no currency but simply a ponzi created by banksters to make the‌ public fine with virtual money and how JPM described it in their report to make‍ a quick 2000%.
At todays price levels of bitcoin the possible gain is nothing special.You⁠ can get way better gains on other assets.

And like in every ponzi the people⁤ who will join last will pay the bill
But when greed gets involved the brain⁣ stops working

Comparing bitcoins marketcap and ease⁢ to pump in 2011 with 2023 is funny.
You just need today 30000 times more︀ capital to have the same effect/pump like in 2011 if you compare it in %︁
 
IPv6 adoption has been rising steadily YoY: IPv6 – Google
Based on historical data, by the‍ beginning of 2025 more than half of the Internet (51-52%) will be using it: Projection of IPv6 Metrics

Exactly. And by⁠ looking at the market data one can clearly see that after 8 years of LN⁤ development there are only 5400 BTCs in it: Lightning Network Statistics | 1ML - Lightning⁣ Network Search and Analysis Engine - Bitcoin mainnet
... out of 21 million BTCs. That's⁢ approximately 0.026%. An irrelevant amount.

Ponzi or not, it stopped being useful in 2015 or so. A majority︀ of people buying it nowadays do so simply to make a quick buck.
 
Monero has a lot of issues.

Inflation bugs cannot be detected easily. Can be a desaster and might be the reason why︂ the price is so low..
monero has a low hashrate, this makes it unsafe.
monero has issues with being very clumsy, and hard to work with.

Price action supports all︃ of this. It is trending down against Bitcoin.

Lightning works great in real life. There︄ are places where you can try it out.
 
this is probably the most relevant objection against monero at the moment - not a long‌ time ago I made a calculation what my idle server (24 physical cores I was‍ not going to use for about half a year) could mine in monero network and⁠ the result was 30cents/day (not including electricity) 😀
of course there might be more efficient kinds⁤ of hardware but there is basically no direct viable case for mining monero which makes⁣ it fragile
 
Yes.
But the non-auditable supply and hard⁢ to detect inflation bug is quite serious as well.
If someone discovers a money printer︀ bug for xmr, your stake will get diluted.
 
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