In this conversation, Dr. Padraig Corcoran discusses his research on Bitcoin as a medium of exchange, focusing on the use of spatial data from OpenStreetMap and BTC Map. He explores the dynamics of merchant adoption, the role of community initiatives, and the implications for policymakers. The conversation highlights the importance of grassroots movements in promoting Bitcoin usage and the potential for growth in merchant acceptance as technology improves.

Takeaways:

🔸Bitcoin serves multiple purposes: unit of account, store of value, medium of exchange.

🔸OpenStreetMap is a crowdsourced geographical data project.

🔸BTC Map helps identify merchants accepting Bitcoin.

🔸Adoption of Bitcoin as a medium of exchange is growing.

🔸Quality of crowdsourced data can vary significantly.

🔸Community initiatives play a crucial role in Bitcoin adoption.

🔸Government policies do not directly influence merchant adoption.

🔸The Lightning Network is vital for facilitating Bitcoin transactions.

🔸Merchants often accept Bitcoin to attract a specific customer base.

🔸Bitcoin can function as both a store of value and a medium of exchange.

Timestamps:

(00:00) - Intro

(01:08) - Dr. Padraig Corcoran’s background & his research on Bitcoin and Spatial Analysis

(02:31) - OpenStreetMap; Pros & Cons of crowdsourced geographical data

(06:19) - How did BTC Map use OpenStreetMap to represent Bitcoin merchants?

(10:08) - What are the insights from analysing the adoption of Bitcoin as a medium of exchange? 

(15:25) - Nation level vs. Grassroots Bitcoin adoption; Bitcoin circular economies

(18:37) - Bitcoin adoption in El Salvador vs Berlin

(19:51) - Are merchants accepting Bitcoin without them knowing about it? 

(23:14) - What are the factors influencing merchant adoption?; Learnings for policymakers from Dr. Padraig’s research

(25:19) - What kind of Bitcoin businesses are on BTC Map?

(27:49) - Is Bitcoin only for savings?  

(32:30) - What should Bitcoin builders focus on?

(33:34) - What is Dr. Padraig’s perception of Bitcoin as money?

(35:23) - Closing thoughts

Links: 

• https://x.com/pcorcoran9 

• https://x.com/btcmap/status/1993737818271633638 

• https://link.springer.com/article/10.1186/s40854-025-00871-z 

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