Barriers to introducing people to bitcoin - page 2.

EternalWingsofGod

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Quote from: username18333 on October 16, 2014, 12:07:36 AM

Pseudo-anonymity doesn't withhold one's identity from sufficiently capable (and determined) adversaries. Roll Eyes

Well unless your the CIA and have a legion of computers or the police force
It's good enough for most purposes Wink

Unless your a true one address at a time user with a proxy using a mixer then you just win lol.
Can't think of a trace for that.

username18333

sr. member

Activity: 378

Merit: 250

Knowledge could but approximate existence.

Quote from: EternalWingsofGod on October 15, 2014, 11:56:52 PM

Quote from: username18333 on October 15, 2014, 11:55:02 PM

Quote from: EternalWingsofGod on October 15, 2014, 11:45:31 PM

Quote from: thaohaitrieu9 on October 13, 2014, 06:09:30 AM

I have not had much success introducing people to bitcoin. I thought a good awareness of fiat currency inflation combine with some medium IT skill would be enough, but alas, no. Do you guys have any experiences?

It's difficult to explain
And it takes a whitepaper for the point to get across otherwise people just draw blanks for a while

In a few words or less it is a distributed transaction and ledger based system that allows people to transfer infromation and units of value over the internet smoothly and succintly at lower costs than banks and other similar services.

The proper term is digital money to some and Bitcoin to the rest of us who know what else it can do

"Distributed," there, means "relies on someone else." Physical exchange of bills doesn't rely on others. Roll Eyes

Ah but distributed also means dispersed over a network in the sense that no one transaction belongs to anyone in particular hence its pseudoanonymous
It's a play on words Tongue

That said explain bitcoin in two sentences and see what you get ^_^.

Pseudo-anonymity doesn't withhold one's identity from sufficiently capable (and determined) adversaries. Roll Eyes

EternalWingsofGod

hero member

Activity: 700

Merit: 500

Quote from: username18333 on October 15, 2014, 11:55:02 PM

Quote from: EternalWingsofGod on October 15, 2014, 11:45:31 PM

Quote from: thaohaitrieu9 on October 13, 2014, 06:09:30 AM

I have not had much success introducing people to bitcoin. I thought a good awareness of fiat currency inflation combine with some medium IT skill would be enough, but alas, no. Do you guys have any experiences?

It's difficult to explain
And it takes a whitepaper for the point to get across otherwise people just draw blanks for a while

In a few words or less it is a distributed transaction and ledger based system that allows people to transfer infromation and units of value over the internet smoothly and succintly at lower costs than banks and other similar services.

The proper term is digital money to some and Bitcoin to the rest of us who know what else it can do

"Distributed," there, means "relies on someone else." Physical exchange of bills doesn't rely on others. Roll Eyes

Ah but distributed also means dispersed over a network in the sense that no one transaction belongs to anyone in particular hence its pseudoanonymous
It's a play on words Tongue

That said explain bitcoin in two sentences and see what you get ^_^.

username18333

sr. member

Activity: 378

Merit: 250

Knowledge could but approximate existence.

Quote from: EternalWingsofGod on October 15, 2014, 11:45:31 PM

Quote from: thaohaitrieu9 on October 13, 2014, 06:09:30 AM

I have not had much success introducing people to bitcoin. I thought a good awareness of fiat currency inflation combine with some medium IT skill would be enough, but alas, no. Do you guys have any experiences?

It's difficult to explain
And it takes a whitepaper for the point to get across otherwise people just draw blanks for a while

In a few words or less it is a distributed transaction and ledger based system that allows people to transfer infromation and units of value over the internet smoothly and succintly at lower costs than banks and other similar services.

The proper term is digital money to some and Bitcoin to the rest of us who know what else it can do

"Distributed," there, implies "relies on someone else." Physical exchange of bills doesn't rely upon others. Roll Eyes

EternalWingsofGod

hero member

Activity: 700

Merit: 500

Quote from: thaohaitrieu9 on October 13, 2014, 06:09:30 AM

I have not had much success introducing people to bitcoin. I thought a good awareness of fiat currency inflation combine with some medium IT skill would be enough, but alas, no. Do you guys have any experiences?

It's difficult to explain
And it takes a whitepaper for the point to get across otherwise people just draw blanks for a while

In a few words or less it is a distributed transaction and ledger based system that allows people to transfer infromation and units of value over the internet smoothly and succintly at lower costs than banks and other similar services.

The proper term is digital money to some and Bitcoin to the rest of us who know what else it can do

username18333

sr. member

Activity: 378

Merit: 250

Knowledge could but approximate existence.

Quote from: Elwar on October 14, 2014, 04:32:30 PM

Quote from: username18333 on October 14, 2014, 03:20:44 PM

Quote from: Elwar on October 14, 2014, 05:44:08 AM

I told my family about it but that is about it.

The people who can use it and understand why it is good will find it. People who are sheep will be late to the game. Those that are against it will be on the streets begging for bitcoins down the road.

I would rather people who actually understand it be the ones using it. They will help it to grow and reap the benefits. If you have to convince someone...let them be late to the game and find out later because eventually they will use it.

Why would one comply with this transfer of power away from himself‽ Roll Eyes

Happens every day for most people. Taxes, inflation, more regulations. People transfer money away from themselves daily without a thought.

With Bitcoin it is about people holding onto power they used to so easily give away.

So others may, more conspicuously, advance their economic standing among men? Lips sealed

Elwar

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Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: username18333 on October 14, 2014, 03:20:44 PM

Quote from: Elwar on October 14, 2014, 05:44:08 AM

I told my family about it but that is about it.

The people who can use it and understand why it is good will find it. People who are sheep will be late to the game. Those that are against it will be on the streets begging for bitcoins down the road.

I would rather people who actually understand it be the ones using it. They will help it to grow and reap the benefits. If you have to convince someone...let them be late to the game and find out later because eventually they will use it.

Why would one comply with this transfer of power away from himself‽ Roll Eyes

Happens every day for most people. Taxes, inflation, more regulations. People transfer money away from themselves daily without a thought.

With Bitcoin it is about people holding onto power they used to so easily give away.

username18333

sr. member

Activity: 378

Merit: 250

Knowledge could but approximate existence.

Quote from: Elwar on October 14, 2014, 05:44:08 AM

I told my family about it but that is about it.

The people who can use it and understand why it is good will find it. People who are sheep will be late to the game. Those that are against it will be on the streets begging for bitcoins down the road.

I would rather people who actually understand it be the ones using it. They will help it to grow and reap the benefits. If you have to convince someone...let them be late to the game and find out later because eventually they will use it.

Why would one comply with this transfer of power away from himself‽ Roll Eyes

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

I told my family about it but that is about it.

The people who can use it and understand why it is good will find it. People who are sheep will be late to the game. Those that are against it will be on the streets begging for bitcoins down the road.

I would rather people who actually understand it be the ones using it. They will help it to grow and reap the benefits. If you have to convince someone...let them be late to the game and find out later because eventually they will use it.

username18333

sr. member

Activity: 378

Merit: 250

Knowledge could but approximate existence.

Quote from: My Name Was Taken on October 14, 2014, 01:24:28 AM

Quote from: username18333 on October 14, 2014, 01:01:08 AM

Quote from: My Name Was Taken on October 14, 2014, 01:00:08 AM

Quote from: username18333 on October 14, 2014, 12:50:53 AM

Quote from: My Name Was Taken on October 14, 2014, 12:37:38 AM

Quote from: username18333 on October 13, 2014, 10:36:00 PM

Quote from: My Name Was Taken on October 13, 2014, 08:10:47 PM

Quote from: koshgel on October 13, 2014, 07:57:18 PM

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said.

Roughly, "Merchants generally respond to market demand."

Ah, sure, but not exclusively. They could respond to a lot of different types of incentives. My point was that a cheaper non-cash method to accept payment than what currently exists could draw merchants in, which could help consumer adoption. I had a secondary point that this could cause more downward pressure on orice though, but that's not as germane to the OP now.

"Educating" consumers is notoriously expensive.

I think for most, but take Overstock for example. They implemented bitcoin as a payment option. It's not costing them anything to do so, in fact saving them money. Where people use it. Anyone who orders there see it as an option and it cheaply spreads the message. Dell computers has the same thing. I think that's the best to hope for right now. You can't change ingrained consumer habits quickly. I don't know what else could be done to cheaply to spread the word.

Present these men more than mere word.

My Name Was Taken

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Activity: 98

Merit: 10

Quote from: username18333 on October 14, 2014, 01:01:08 AM

Quote from: My Name Was Taken on October 14, 2014, 01:00:08 AM

Quote from: username18333 on October 14, 2014, 12:50:53 AM

Quote from: My Name Was Taken on October 14, 2014, 12:37:38 AM

Quote from: username18333 on October 13, 2014, 10:36:00 PM

Quote from: My Name Was Taken on October 13, 2014, 08:10:47 PM

Quote from: koshgel on October 13, 2014, 07:57:18 PM

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said.

Roughly, "Merchants generally respond to market demand."

Ah, sure, but not exclusively. They could respond to a lot of different types of incentives. My point was that a cheaper non-cash method to accept payment than what currently exists could draw merchants in, which could help consumer adoption. I had a secondary point that this could cause more downward pressure on orice though, but that's not as germane to the OP now.

"Educating" consumers is notoriously expensive.

I think for most, but take Overstock for example. They implemented bitcoin as a payment option. It's not costing them anything to do so, in fact saving them money. Where people use it. Anyone who orders there see it as an option and it cheaply spreads the message. Dell computers has the same thing. I think that's the best to hope for right now. You can't change ingrained consumer habits quickly. I don't know what else could be done to cheaply to spread the word.

username18333

sr. member

Activity: 378

Merit: 250

Knowledge could but approximate existence.

Quote from: My Name Was Taken on October 14, 2014, 01:00:08 AM

Quote from: username18333 on October 14, 2014, 12:50:53 AM

Quote from: My Name Was Taken on October 14, 2014, 12:37:38 AM

Quote from: username18333 on October 13, 2014, 10:36:00 PM

Quote from: My Name Was Taken on October 13, 2014, 08:10:47 PM

Quote from: koshgel on October 13, 2014, 07:57:18 PM

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said.

Roughly, "Merchants generally respond to market demand."

Ah, sure, but not exclusively. They could respond to a lot of different types of incentives. My point was that a cheaper non-cash method to accept payment than what currently exists could draw merchants in, which could help consumer adoption. I had a secondary point that this could cause more downward pressure on orice though, but that's not as germane to the OP now.

"Educating" consumers is notoriously expensive.

My Name Was Taken

member

Activity: 98

Merit: 10

Quote from: username18333 on October 14, 2014, 12:50:53 AM

Quote from: My Name Was Taken on October 14, 2014, 12:37:38 AM

Quote from: username18333 on October 13, 2014, 10:36:00 PM

Quote from: My Name Was Taken on October 13, 2014, 08:10:47 PM

Quote from: koshgel on October 13, 2014, 07:57:18 PM

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said.

Roughly, "Merchants generally respond to market demand."

Ah, sure, but not exclusively. They could respond to a lot of different types of incentives. My point was that a cheaper non-cash method to accept payment than what currently exists could draw merchants in, which could help consumer adoption. I had a secondary point that this could cause more downward pressure on orice though, but that's not as germane to the OP now.

username18333

sr. member

Activity: 378

Merit: 250

Knowledge could but approximate existence.

Quote from: My Name Was Taken on October 14, 2014, 12:37:38 AM

Quote from: username18333 on October 13, 2014, 10:36:00 PM

Quote from: My Name Was Taken on October 13, 2014, 08:10:47 PM

Quote from: koshgel on October 13, 2014, 07:57:18 PM

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said.

Roughly, "Merchants generally respond to market demand."

My Name Was Taken

member

Activity: 98

Merit: 10

Quote from: username18333 on October 13, 2014, 10:36:00 PM

Quote from: My Name Was Taken on October 13, 2014, 08:10:47 PM

Quote from: koshgel on October 13, 2014, 07:57:18 PM

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said.

username18333

sr. member

Activity: 378

Merit: 250

Knowledge could but approximate existence.

Quote from: My Name Was Taken on October 13, 2014, 08:10:47 PM

Quote from: koshgel on October 13, 2014, 07:57:18 PM

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

My Name Was Taken

member

Activity: 98

Merit: 10

Quote from: koshgel on October 13, 2014, 07:57:18 PM

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

koshgel

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Activity: 1162

Merit: 1001

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

cryptocoiner

hero member

Activity: 602

Merit: 500

hyperboria - next internet

I usially ask for payment in bitcoins or offer a payment in bitcoins for job/service/goods etc. after that people usually starting using bitcoin in they own.

My Name Was Taken

member

Activity: 98

Merit: 10

I think if the value of the currency wasn't so volatile it would be easier. Money is supposed to be a store of value, and right now we have rapid swings (compared to USD fiat). I think something slowing adoption for most people is the risk that if you have a significant amount of value in bitcoin, it could depreciate 25% in a month. The USD has experienced inflation, sure, but it's a stable rock compared to the risk of volatility associated with bitcoin.

On the other hand, bitcoin's rapid appreciation last year was what brought so many people into it, to speculate. But this kind of reinforces my first point. When last year's bubble has deflated through this year, people leave with a bad taste in their mouth. It would have been better if the currency was more stable. Ultimately, people want stability and predictability.

Topic: Barriers to introducing people to bitcoin - page 2. (Read 3232 times)