Bitcoin adoption stories — Introduction
Bitcoin is still in the very early stages of adoption curve where only .01% of the entire world population are actively using it. Having said that the “store of value” proportion is still intact and many invest in it to hedge against the inflationary fiat.
But we cannot entirely dismiss the fact that the Bitcoin is not used at all and is only used as a speculative investment. There are several cases of it being used regularly for transferring value across the globe with low fees. The website https://www.bitcoinabuse.com/ is one such example of a public database of bitcoin addresses used by hackers and criminals. Though it is being used for bad intentions, any technology will first be adopted by bad people, and then it will then get followed by mass adoption by the general public.
Moreover, we all know how Bitcoin is the savior for Venezuelans to store their wealth in Bitcoin and helping them in the day to day life. Their Bolivar is worthless toilet paper, and so they have to depend on Bitcoin or US dollar for their living.
Even recently hackers stole only Bitcoins from Binance exchange, not any other shitcoins since they know that bitcoin blockchain cannot be forked or reorged to make their coins worthless later in future.
In spite of all these examples of bitcoin getting slowly adopted, it is a meager .01% of the world population using it. The adoption should be in such a way that the people from the remotest village also should be using it on a day-to-day basis. Right from the most deprived people living in the most underdeveloped country to the Top 100 Biliories in Forbes list to the institutional investors should use Bitcoin on a day-to-day basis for it be declared as a “Global Asset.”
“Bitcoin Adoption Stories” is a series of fictional stories on different situations and scenarios that might arise in the future that would FORCE people in adopting bitcoin. The word “Force” is highlighted because of all the stories discussed here would be because of people being forced to adopt for them to survive. For example, Venezuelans are forced to use Bitcoin since their currency Bolivar is worthless. This is one such example. There would be so many such scenarios that would push the entire world in adopting Bitcoin knowingly or unknowingly.
The “Bitcoin Adoption Stories — Part 1” will discuss an old lady who is also half blind that too from the remotest of villages in India finds bitcoin and is forced to adopt to this groundbreaking technology — because of the wise choice made by her in choosing bitcoin liberated her family from the clutches of the arrogant, selfish and authoritative society. The question would arise in your mind on how an old lady from the remotest village know to use Bitcoin and the answer for it is revealed in my next episode, so please follow and keep reading to know more.