Debunking yesterday’s post “there is less adoption than 6 year ago” and “fewer businesses using crypto”, and all the misinformation that came with it…with actual data.

Yesterday's top post that received over 500 upvotes was titled

Convince me I'm wrong,There's even less adoption and use of crypto today than 6 years ago, we've taken a step backwards“.

It had several paragraphs of fluff with no real backup trying to push a narrative that there's less adoption than in 2017, fewer merchants accepting payment, fewer people using it for purchases, and “nobody is really using the technology”.

When really all you needed was look at the actual data:

Volume of crypto used for payment of goods and services.

Key networks geared for payment, such as the Lightning Network, have been popping out to facilitate payment, and seeing increases, and weren't available in 2017.

There has also been a steady growth in crypto users in general since 2017, despite the dips during the bear market.

Some regions have started to turn more towards crypto for transfers and P2P payments

The post also claimed that the number of businesses accepting Bitcoin was on the decline, when in reality it has vastly increased.

-According to CoinmapOrg there are well over 23,000 businesses that accept Bitcoin as payment in 2023.

That's not counting the additional 44 Million merchants that can accept crypto payments with crypto cards through the Visa network. Something you couldn't do in 2017.

Compared to only about 11,000 businesses accepting Bitcoin in 2017 (2).

Keep in mind, back in 2017, we didn't even have Paypal as a means for business to accept crypto.


-User adoption and business adoption has been on the increase. Here's the details of how that increase has looked in key cities and countries since 2019:

The Global Adoption of Crypto Payments

There were 15K businesses accepting crypto payments in just the US alone in 2021, when there were only around 11K total worldwide in 2017.

Keep in mind, we don't have good data of the number of businesses accepting crypto outside the US. So the number could be much higher than 23,000.

Back in 2017, we didn't have as many countries outside the US with that much adoption. We didn't have the boom in Venezuela, El Salvador, Lebanon, Turkey, etc..

Now many countries have jumped on the adoption, and have more adoption per capita than the US.

Which major brands are accepting crypto today?

From Bitpay alone, here's many companies accepting crypto now.

Thanks to Bitpay, Paypal, Spedn (Flexa), etc…, crypto is now accepted at more places than ever. And it's become easier for businesses to accept crypto.

Business have actually benefited and seen some growth from accepting crypto.

-User adoption and business adoption has been on the increase. Here's the details of how that increase has looked in key cities and countries since 2019:

The Global Adoption of Crypto Payments

-Why are more businesses accepting crypto? Here's a more detailed explanation:

-77% of businesses who accept Bitcoin as a payment see an increase in cross-border sales:

-93% of businesses that started accepting crypto have reported growth:

Outside of just payment, the use of crypto and blockchain as a tech by businesses and major companies has been blooming. Along with growth of startup and projects in the ecosystem.

I would probably need to make an entire separate post to give this topic any justice.

Here's a small glimpse of companies using the tech side.

And looking at even just Ethereum, there's been growing developments and use by devs over the years. A growth in the use of smart contract by businesses. And the growth in project using Ethereum since 2017.

This growth in tech utility is only just for one chain. There's been growth on many other chains used for their tech.

Conclusion (TL;DR:) :

-There's been growth across the board since 2017.

-More users using crypto.

-More adoption as a payment by more businesses, especially in key regions.

-Not only a growth in small businesses, but a growth in major household brands jumping on the adoption.

-More people using it as a form of payment for buying goods, especially in key regions.

-More businesses reaping in growth and benefits from using it as a form of payment,

-More major platforms facilitating the adoption, such as Paypal, Bitpay, Flexa, etc…

-And we're also seeing the tech adoption by companies, startups, and developers bloom since 2017.

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50 thoughts on “Debunking yesterday’s post “there is less adoption than 6 year ago” and “fewer businesses using crypto”, and all the misinformation that came with it…with actual data.”

  1. I agree. It just FEELS like a step back because we’re closer to the drop and cycle than 2017 and there was a lot less meme trash then sucking up funds.

    I see the trend still heading upwards.

  2. Bro, this is some hard core power-point material. I would hire you at my firm. Well done.

  3. This is the kind of content I’m here for, but surely it will get lost in oblivion.

  4. Crypto is definitely getting adopted worldwide more now then before but that doesn’t erase the fact that it has become the Wild West with everyone fend for themselves and scams at every corner. If we want mass adoption we need to be better then this!

  5. I didn’t agree with that part and I have no idea how it got so many upvotes for something that simply was not true. I didn’t have all your hard work on this post but just staying up with news is enough to debunk it.

    Thanks for this post.

  6. This is exactly why I love this sub. There is always someone willing to put in a little time and effort to refute a claim with nothing but straight fucking facts.

    OP, your post has injected me with pure bullishness for the adoption of crypto. Everyone, take a few moments to read through this as it is a great post.

  7. I thought it was evident they were wrong with so many comments pointing out examples, but it’s nice to have such a great written up post laying out all the facts

  8. Whats going on in the payments sector alone blows even this out the water.

    They are projecting 1000% increases over the next few years

  9. Excellent rebuttal, OP. I remember back to the 2011 rally, where Bitcoin hit a high of $32 in June before sinking back down to sub $2 by November. The resulting bear market was extremely quiet, and what little mainstream media was covering it claimed that the bitcoin fad was over. A lot of services and websites halted their Bitcoin payment options and it felt like it was a significant setback in terms of mainstream adoption.

    We’re well past that now. Although this current bear market is brutal, crypto is far more entrenched among the mainstream and industry. It’s not going anywhere and wider adoption is inevitable.

  10. Adoption has increased, activity has decreased. ETH activity is quite low at the moment for example, which can be explained by other L2s diluting dev activity, and just an overall decrease of interest in the cryptoverse.

  11. You know the crypto bros are desperate, when they bring up Africa.

    Also nice when the evidence is an “estimate” that a crypto exchange drew on a jpg.

  12. I didn’t even need to read it. The “sell me on whatever” posts I automatically ignore.. or laugh at.

  13. They also left out a major part where governments say that it can’t be used a currency. When governments change laws/rules it also hurts it quite a bit.

  14. I don’t know if there’s more adoption or not, I actually hope there is, but I wanted to chime in to say I don’t trust the stats from

    There are supposedly some businesses in my area where crypto payments are accepted. I have checked and none of them do. So it’s possible new businesses are being added all the time, but old ones who no longer work with crypto are never deleted.

    Our perception is also dependent on where we live. Some areas will have more crypto-friendly businesses than others. The only major one I know is Just Eat.

  15. Why is your second graph from april 2022, but shows high values for 2022 and 2033?

    The third graph is a blind guess using data from 2006.

    What is a crypto adoption score? Looking it up it’s just some made up metric?

    This post is just using bull shit and pictures and it’s being gobbled up because of so many people with poor media intelligence….

  16. But also 70% of all bitcoin hasn’t moved in over a year. How do you square that circle?

  17. Many of these graphs end at 2021, the height of the bullmarket.

    This graph is not at all the flex you think it is:

    This seems to be some forecast, what year is it from?

    Nobody ever explained what value these company are receiving from blockchain integration:

    Whenever you look into them, it’s always just some intern level project or a blockchain that is hosted on AWS calling it a partnership.

    This is just a giftcard seller:

    Random forecast from 2021:

    This graph is not a flex:

    Yikes post all-around

  18. I also think, that the other post was not factual, but your post is shady as well. Many of your graphs just end in the year 2021 or are trajectories into the years 2023-2025. They are themselves also not very telling.

    I think adoption is growing, but your charts don’t reflect that accurately.

  19. Great post OP I called them out on it as well in the posts comments. Each cycle brings a new wave of adoption more than the last.

  20. Sorry, but there’s a lot of BS in those statistics.
    Just because more Kratom dealers, RC and nootropic vendors now accept Bitcoin doesn’t make it an adopted form of direct payment for businesses that do matter.
    Just because a company uses blockchain doesn’t mean they are adopting crypto currencies, blockchain can be simply used for logistics, or a company is experimenting. Reminds me of those crypto companies that claim they have a partnership with Amazon when in fact they rent AWD servers.

    One chart shows a step decline for 2023 in invested money. Another chart is just some smoothed out prognosis extending into even 2025… this is such a low quality post, I am really unconvinced.

    Statistics are easy to manipulate, I rather look at hard numbers like TVL.

  21. Yeah.. I’m personally using the Starbucks odyssey beta.. I’ve received the first round of nfts from 7-eleven.. I participated in the build on base by minting some official Coca-Cola and atari nfts.. I’ve used the Gemini credit card to get solana back by purchasing gas.. I’ve used an app called Olli to get btc back on purchases from safeway, cvs, Starbucks.. so over the last two years there have been a lot more interest from large corporations trying to merge crypto into their business models.. we are early.. things are growing.. we just need to be patient.. there should be one more big dip.. from there up.

  22. Would also add – and yes, I know everyone here hates NFTs, but still counts under the crypto umbrella – the sheer amount of global brands that have launched NFT projects. Nike, puma, Lacoste, Reddit, etc. literally unthinkable 6 years ago even tho NFTs were already a thing.

  23. Interesting post op. These graphs are mostly from the peak of the last bull run. No shit adoption was huge then but it’s regressed since then.

  24. Yep. Bitcoin is goin down the drain. Nothings ever gonna change. /s

    Everything changing to the better is not always represented on a graph. This is huge adeption:

    >Energía del Pacífico completed a 380-MW natural gas fueled power plant in May of 2022. Utilizing liquid natural gas, stored on a permanently anchored offshore floating storage regasification unit (FSRU) off the Port of Acajutla, El Salvador is now providing consistent and reliable power to their citizens. This local energy supply and power production project has reduced power costs by 70% as El Salvador was reliant upon imports for their electricity, amounting to 25% of their demand. What’s more, this power plant also boasts transmission to the Central American Electrical Interconnection System (SIEPAC) that allows for power distribution to 6 other Central American nations.<

  25. Love the effort put in, but it is important to note the time-lines of the data shown (which is during the peak bull run we once had)

  26. You cannot “buy” anything with crypto because it is not a currency. All but two governments have outlawed crypto currency.

    Of course if your talking drugs and hitmen then I withdraw my comment.

  27. Of course there’s way less adoption now than there was six years ago because in a six year timeframe, smart people realized all alt coins are, are just shit coins with zero value, the only people who made the money were the creators. On the other hand, bitcoins, hash rate, and lightning adoption is at its highest levels ever.. Siri between the lines #bitcoin (you don’t hear greyscale or blackrock talking about an ADA ETF, also never heard anyone talk about a Doge ETF or a Solana ETF, and that’s because they have zero value)

  28. The other post OP argued that because he was in crypto since 2017 and profit is up for a while now he understands better than all of us, with zero facts and data. Another perfect example of a degen bending down and sucking his own uncircumcised dick and telling everyone how good his own dick and cum tasted.

  29. Only time I see stuff about crypto is when I log onto Reddit every once in a while. I travel slot and never see it and live in a major metroplex. Only seen one machine at a weed shop.

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