It is difficult for Bitcoin to enter the mainstream market. The Bitcoin industry is working hard to make the dream a reality.

Over the past few years, the Bitcoin industry has made considerable efforts to make Bitcoin widely accepted by consumers. As Bitcoin slowly matures and various new projects targeting consumers are launched, people's attitudes towards Bitcoin have also changed. However, in order to make people see the advantages of using digital currency over traditional payment methods, the Bitcoin industry is working on developing a "killer application". Although there has not been much success, it can be seen that the Bitcoin industry is making progress every day.

Bitcoin applications that facilitate daily use

Bitcoin has always been a mysterious niche project that has little appeal to mainstream consumers. Shopping is an indispensable part of people's daily lives, so some Bitcoin entrepreneurs have thought of turning Bitcoin into a payment method so that people can use it every day. However, it turns out that Bitcoin does not seem to be that effective as a payment method. People still like existing payment methods and even feel that this alternative payment method is unnecessary.

Continuous mistakes and continuous experimentation are the only way to success. The Bitcoin industry continues to launch new Bitcoin use cases and seems to be getting closer and closer to "killer applications." For example, an application called "Fold." Recently, Fold cooperated with Bitcoin's mobile wallet application Airbitz to provide a 20% discount to American consumers who use Bitcoin to pay for Starbucks gift cards. Airbitz said that saving money is a good way to encourage people to use Bitcoin.

In addition to benefiting consumers materially, it is also necessary to let consumers understand Bitcoin ideologically. Unlike other "virtual currencies" on the Internet, the concept behind it is very inspiring. Some books about Bitcoin and digital currency have been published on the market. Although a book may not be the best form of presentation of Bitcoin, it can prove to people that Bitcoin and the technical concepts behind it are by no means a flash in the pan.

When it comes to how to let people understand Bitcoin, in addition to books, a better way is to present it through intuitive pictures - various Bitcoin documentaries, such as BitFilm. Whether people have a technical background or not, visual media is relatively easy to understand.

Although there are various books and documentaries, it is still a huge challenge for most people to understand the concept of the Bitcoin network, because it involves various new concepts: Bitcoin mining, Bitcoin nodes, etc. Now, there seems to be a solution to this, such as the Bitcoin computer launched by 21 Company, and recently Chris Ellis from the ProTip Bitcoin micropayment project showed through a video that even if you don’t have money to buy a mining machine, you can create a Bitcoin node yourself.

Keep using your imagination and creativity

Recently, we have been hearing and seeing financial institutions and other industries using Bitcoin's underlying technology - blockchain to solve various problems. It can be said that any type of project can be built on the blockchain, but the value varies. At present, the application areas of blockchain include clearing and settlement, medical insurance, product supply chain, identity authentication, etc. Specific related project applications can be viewed here. The scope of application is still expanding. I believe that one day blockchain technology will cover the world like today's Internet technology, and everyone will use it.

Improved supervision

Of course, many people reject Bitcoin because of the lack of regulation, but this situation is slowly improving. Government regulators around the world are considering Bitcoin regulation. Although the Bitlicense issued by New York has been criticized by some Bitcoin exchanges, it is a good thing for consumers, and exchanges that want to develop and operate legally for a long time will expect regulatory measures to be introduced. Japan has set up a special working group to discuss Bitcoin regulation. According to the Japan Times, the working group is perfecting the final version of the draft, and once completed, it will be submitted to the national legislature, the National Assembly, next year.

Not only regulators have begun to pay attention to Bitcoin, but some government officials have also begun to like the concept of Bitcoin. Argentina's new president Mauricio Macri said that in order to better manage the country, he selectively abandoned some outdated management forms and enabled some innovative management methods, such as Bitcoin and blockchain technology, to improve government efficiency and combat corruption. Earlier, Russian Prime Minister Putin also publicly expressed his appreciation for the concept of digital currency and believed that it was possible for digital currency to be used as a unit of account.

2015 is almost over. What do you think of the progress made by the Bitcoin industry in this year? Looking forward to 2016, what expectations do you have for the development of the Bitcoin industry?

Original article: https://news.bitcoin.com/argentinas-new-president-might-just-bitcoin-supporter/
By Julio Gil-Pulgar
Compiled by: printemps
Source (translation): Babbitt Information