There are several important factors concerning the Bitcoin adoption in the foreseeable future. To begin with, Bitcoin adoption, like every new technology adoption process, has to push some barriers. There are several population groups that need to be reached. Until now, Bitcoin has reached the early adopters and innovators. Globally, that is considerable number of people, but speaking in percents of global populatiom, it is far from enough. Early adopters were an easy task for Bitcoin since they are technologically educated and open-minded people. Bigger part of the world’s population is more conservative and it will be harder to reach.

Esential for the mass adoption of the Bitcoin is that everybody see the concrete example of the way they can benefit from it. So, for Bitcoin adoption it is key that Bitcoin becomes regular method of payment globally. Once every individual becomes able to use Bitcoin in everyday life, adoption will rise quickly. Bitcoin came a long way and today almost everything can be bought online, and even in some number of physical stores. Many of the biggest retail businesses online have acknowledged Bitcoin and today they offer customers to pay in BTC. Recent changes have been made by Amazon and Microsoft. Deep web connections are slowly becoming a matter of past.

Government regulations are the biggest obstacle in the future of Bitcoin. Governments are somewhat reluctant to accept the Bitcoin since it is the great threat for the centralized fiat currencies that are controled by the state. Countries fear the Bitcoin since they do not have the control if the fluctuation of value within the network. That way, every negative statement by government officials and every ban, like recent China ban, decrease the rate of Bitcoin adoption.

The quickest way to reach mass BTC adoption would be if the governments would realize that Bitcoin is unstoppable and ceased their counter-measures. General population would cease to perceive Bitcoin as something illegal or shady and adoption rates would go through the roof.


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Posted by Min Park

Blockchain Marketing Specialist / ICON ($42M) / MediBloc ($25M) / BOScoin ($12M) / Krown Media / :0

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