Topic: Bitcoin Demographic (Enthusiasts vs Fiat warriors) How to move forward? (Read 886 times)

Jeffrey Robinson said the userbase is actually 250,000.  There's more people with Air Arabia club membership than Bitcoin holders.  I think myself there could probably be more paid subscriptions to dating sites than Bitcoin holders.

I would categorize bitcoin users into three categories:

1) Speculating investors.  They provide the initial value to bitcoin, based on belief of the future utility of the digital currency.
2) Bitcoin consumers, people that use bitcoin to actually buy products and services
3) Businesses that accept bitcoin as payment.

Businesses that accept bitcoin cannot be expected to hold bitcoin for more than a few minutes, because presently, it would be fiscally irresponsible for a business to hold a currently volatile speculative investment for any significant period of time.  This also applies to non-hobbyist miners.

Investors and investment are not going to increase until there is more commerce using bitcoin, that is, until more consumers are using it to buy goods and services, which creates demand for bitcoin that is not purchased as a speculative investment.

Until the ratio of bitcoin consumers to investors increases, volatility will plague bitcoin.   The best way forward is to encourage the use of bitcoin in commerce, find more attractive ways to buy things and services with bitcoin over government currency.

I think the biggest battle will be with the credit/debit card system, since they have hidden their fees from consumers by making retailers pay for it, which is indirectly paid for by non-card using consumers.     

How to move forward? You wait. Every forumite deriding bitcoin, every dictator banning it, all of these people will grow old and die. Bitcoin will outlive them all by hundreds of years.

And the next generation will be more favorable.

This (the 2008-2009 financial collapse) is where Satoshi Nakamoto gained his inspiration for Bitcoin.
And thus, we might be reliant upon user base increases from current financial systems failing. (besides btc bubbles).

Humans do not change under normal circumstances. Change comes from unraveling of the norm.

So, when the next collapse comes, and people's 401ks get smashed or worse, I expect you will see 5 million new Bitcoin users who will attempt to understand its true purpose and join us.

If you want bitcoin to stay in the hands of those who care about it, then probably the user number will never grow hugely beyond what we already have.

If you want people to 'see the light' and replace corrupt institutions, the bubbles are probably the most effective method to draw mass attention and convert new users. Some % of them will become hardcore supporters, but first you need something big to force them to seriously consider bitcoin. Yeah, it leverages greed but so what? Money doesn't work at all without a smidgen of greed.

Ask yourself why you want the userbase to grow anyway. I'm sure part of it is to do with your own personal desire to get rich 

Hey Bitcoiners,

I've heard estimations there are anywhere from 1.5 to 2.5 million Bitcoin users currently, which is obviously peanuts compared to the potential user base out there.

But currently, how many of those would we figure actually research the fundamentals of bitcoin and see it having a very large role in finance vs. those who are simply interested in the market side of bitcoin to gain fiat currency?

I venture into the speculation threads, and many discuss their entry and exit points (waiting for bitcoin to reach a value before cashing back out into fiat), but the amount of buyers, HODLers and bitcoin believers seems lower in comparison.

A bitcoin bubble brings in people with dollar signs in their eyes, but how many actually stick around and realize the potential of this beyond making more cash?

I ask because I wonder if another bubble is really any good for gaining publicity, does bitcoin need a bubble to raise awareness, only to bring in thousands of people who want a quick buck? Or is there a way to gain publicity and bring in thousands of people who see the potential instead?

I have a good buddy who I've explained Bitcoin/Crypto too, the blockchain, the idea of having a public financial ledger free from corruption and centralization, but it isn't until I mention the massive explosion in bitcoin value that he becomes interested as an "investor".

It bums me out that people are so often unable to open their eyes, and see this beyond a USD/CAD/CNY/EURO price, or even see the corruption and manipulation that takes place in the current financial system, are we all waiting for a fiat collapse for people to see the light?