How can we suggest bitcoin to people after this? - page 2.

n691309

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Quote from: shield132 on June 09, 2017, 12:21:28 PM

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

For low value transaction it really doesn't worth, much cheaper are the other cryptocurrencies like ethereum or doge which charge almost nothing compared to bitcoin which is very expensive now. If we transfer a high amount of money $100, 1000+ then I think that it worth but it's not like before, now people will think twice before making any transfer.

MingLee

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Quote from: shield132 on June 09, 2017, 12:21:28 PM

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

I personally believe Bitcoin is now dramatically swinging to the "investment" side of the "currency v. storage" debate since there has been zero realized progress by the mining community to get the blocks bigger and get fees smaller for the average person. The queues are starting to become insane and it's borderline not worth moving any Bitcoin anymore; just keeping it in exchanges seems to do the trick.
Darknet has already started using Monero and other alts since they're more anonymous.

Kray

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Quote from: shield132 on June 09, 2017, 12:21:28 PM

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

I think bitcoin wont use for send and receive money, first time i used bitcoin is because of bitcoin fast and cheap transfer fee, but now it seems bitcoin not suitable for send money. It's more suitable for earn mony

virtualdn

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Hard times for BTC. I don't like the idea of digital gold / big investment, I more likely want BTC to be used for anything from small micropayments to huge ones. Let's buy coffee with BTC again!

mrcash02

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Expensive fees for transactions shouldn't last forever... At some point things should go back to the good times, when the fees weren't high and it was very worthful for all parts and not only for miners like now. If you aren't confortable to introduce people to Crypto-Currency now because this situation you can wait until things start improving or you can give people hope that this won't last forever as I said...

Shenzou

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The only probelm here is having high fees for transactions that do not to be fast, i mean normal peopel who are not in a hurry should not use high fees to send thier transactions because they can wait a few hours, however for those who are in bussnies like trading or investing where every second matter that is where the probelm lies.

JohnBitCo

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Quote from: joshy23 on June 09, 2017, 01:18:23 PM

Quote from: Iranus on June 09, 2017, 01:13:10 PM

Quote from: bouren on June 09, 2017, 12:31:36 PM

Quote from: shield132 on June 09, 2017, 12:21:28 PM

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

If we tell people that if they receive payments in btc, there money will increase overtime, isn't that fantastic. This would kill fees pain to some extent.

That's an absolutely terrible idea. You risk losing family and friends for giving them investment advice without even using tentative terms.

If people's only aim when receiving Bitcoin is for the price to increase, then there are no fundamentals and that situation sure as hell couldn't last forever.

I think its better to tell them that bitcoin is good as investment currently rather than using it for small transaction across the web. Its really hard to buy online using bitcoin because of its high transaction fee. So it is much better to tell your friends and families to used it a investment for now and once the issue has been settled, they can used bitcoin to transfer money as remittances or buy things online using bitcoin as payment method.

I think bitcoin is still good for making high payments. The transaction fee is only burden for those who have to send low multiple payments and with each payment a dollar extra as fee make it a real pain.

hatshepsut93

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Quote from: shield132 on June 09, 2017, 12:21:28 PM

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

You still can advice Bitcoin as a currency, but the number of cases when it's better than fiat is fairly limited. First, it's big transactions. Bitcoin's fees are determined by the number of input/output addresses and not the amount of transacted funds, so moving $20 000 worth of BTC with $20 fee is a 0.1% fee. Second - overseas transactions. Usually they are very expensive and receivers in some countries may lose 5-30% of the sum after bank fees, currency exchanges, etc. Bitcoin fixes that.

iluvpie60

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Quote from: shield132 on June 09, 2017, 12:21:28 PM

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

It still is wonderfull though. Wait until the USD price crashes more and our debt continues to go up and the stock market goes down by a lot.

Having some BTC will be a good thing when that all happens.

Transaction fees can be lowered many ways. Segwit. Increase blocksize. OR take the blockreward in half and have 5 min block time instead of 10.

More people are likely able to get their transaction into a 5 minute block than a 10 min block because of it takes a little bit more of a first in first out apporach(which i never seen discussed here).

No reason for it to be 10 minute confirmations. Also other places dont need to require 3 confirmations. We really just need 1.

TryNinja

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Quote from: Iranus on June 09, 2017, 01:36:36 PM

That is not an advantage of using Bitcoin.

IMO it is right now for people to look at Bitcoin and actually have at least a reason to buy the coin. As I said at the bottom of this post, there is a huge porcentage of people who simply doesn't care about Bitcoin technology.

Quote from: Iranus on June 09, 2017, 01:36:36 PM

With that as the only indicator the people you're talking to will piss you off if it doesn't happen.

That's why I say that Bitcoin is a investment. Not a guaranteed way to profit. You can tell your friends to invest in any company you believe the stock prices will rise, doesn't mean you are 100% correct and doesn't mean you can't recommend them any kind of investment.

Quote from: Iranus on June 09, 2017, 01:36:36 PM

That's a pretty annoying generalisation about mothers.

ROFL. That actually made me laught. Not sure if you are joking or you simply did not understood the message I wanted to pass. I'm talking about the regular people who are not tech-savvy and simply don't care about Bitcoin's core concept. Yes, this kind of people exist, and they live with us in the same world. I have friends who think like that, and even my brother doesn't care at all about Bitcoin when I talk to him about this new technology. Just remember that to Bitcoin become mainstream, people need to WANT to accept Bitcoin as a method of payment in their stores.

Iranus

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Quote from: TryNinja on June 09, 2017, 01:27:54 PM

Quote from: Iranus on June 09, 2017, 01:13:10 PM

That's an absolutely terrible idea. You risk losing family and friends for giving them investment advice without even using tentative terms.

If people's only aim when receiving Bitcoin is for the price to increase, then there are no fundamentals and that situation sure as hell couldn't last forever.

Since we can no longer recommend people to use Bitcoin for the purpose of avoiding fees and delays in transactions, this is one of the few advantages that a regular person can benefit from using Bitcoin.

That is not an advantage of using Bitcoin. That's just from the fact that more and more people are getting involved. If those people's only reason for getting involved is that the price will go higher, then as soon as it reaches a point where no more people are getting involved, people will start selling because of the low "returns" that they're getting on their digital cash.

At that point it's no longer any kind of currency, just the ultimate speculation for traders/gamblers.

Quote from: TryNinja

So I do not see a problem with that. Obviously it is not entirely correct to recommend receiving all your money in Bitcoin, but investing as much as 30% of your monthly income does not seem to be such a bad idea.

Nothing to do with how much you can invest into it. It's about why you're doing it and whether you're actually intending to spend. It's also about being tentative when referring to the price, because past returns do not indicate future gains. With that as the only indicator the people you're talking to will piss you off if it doesn't happen.

Quote from: TryNinja

Or what else would you say about Bitcoin to someone like your mother to make her want to buy Bitcoin? Why should she care about having a decentralized money that isn't accepted in the market she goes to buy cleaning products for her house?

That's a pretty annoying generalisation about mothers. You either talk about decentralisation, you talk about why fees are high and how this can change, or you (unfortunately) direct her to an alt. This is how you would talk to anyone.

TryNinja

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Quote from: Iranus on June 09, 2017, 01:13:10 PM

That's an absolutely terrible idea. You risk losing family and friends for giving them investment advice without even using tentative terms.

If people's only aim when receiving Bitcoin is for the price to increase, then there are no fundamentals and that situation sure as hell couldn't last forever.

Since we can no longer recommend people to use Bitcoin for the purpose of avoiding fees and delays in transactions, this is one of the few advantages that a regular person can benefit from using Bitcoin. So I do not see a problem with that. Obviously it is not entirely correct to recommend receiving all your money in Bitcoin, but investing as much as 30% of your monthly income does not seem to be such a bad idea.

Or what else would you say about Bitcoin to someone like your mother to make her want to buy Bitcoin? Why should she care about having a decentralized money that isn't accepted in the market she goes to buy cleaning products for her house?

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Quote from: shield132 on June 09, 2017, 12:21:28 PM

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

i think what we can suggest for people to buy bitcoin is how much they want to bitcoin with their money. for example, if they only have $100, then we are trying to convert $100 that will equal with bitcoin. and then, they can save it into their wallet, while they can wait or used for start trading. i think if that people want to pay $100, then i think he don't have to think about the fee which is only small fee that he can pay. what i want to show here is if someone wants to used bitcoin, then he should know how much the fee that he should pay and will agree with the fee if he wants to get fast confirmed. if he don't want this, then he don't need to use bitcoin to pay something.

joshy23

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Quote from: Iranus on June 09, 2017, 01:13:10 PM

Quote from: bouren on June 09, 2017, 12:31:36 PM

Quote from: shield132 on June 09, 2017, 12:21:28 PM

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

If we tell people that if they receive payments in btc, there money will increase overtime, isn't that fantastic. This would kill fees pain to some extent.

That's an absolutely terrible idea. You risk losing family and friends for giving them investment advice without even using tentative terms.

If people's only aim when receiving Bitcoin is for the price to increase, then there are no fundamentals and that situation sure as hell couldn't last forever.

I think its better to tell them that bitcoin is good as investment currently rather than using it for small transaction across the web. Its really hard to buy online using bitcoin because of its high transaction fee. So it is much better to tell your friends and families to used it a investment for now and once the issue has been settled, they can used bitcoin to transfer money as remittances or buy things online using bitcoin as payment method.

Iranus

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Quote from: bouren on June 09, 2017, 12:31:36 PM

Quote from: shield132 on June 09, 2017, 12:21:28 PM

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

If we tell people that if they receive payments in btc, there money will increase overtime, isn't that fantastic. This would kill fees pain to some extent.

That's an absolutely terrible idea. You risk losing family and friends for giving them investment advice without even using tentative terms.

If people's only aim when receiving Bitcoin is for the price to increase, then there are no fundamentals and that situation sure as hell couldn't last forever.

bouren

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Quote from: shield132 on June 09, 2017, 12:21:28 PM

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

Yeah, its hard time for bitcoin ecosystem and high fees are taking 'dream of BTC utopia' away.
But yeah there is still possibility to induce people towards bitcoins and that is through its 'volatility' obviously.
If we tell people that if they receive payments in btc, there money will increase overtime, isn't that fantastic. This would kill fees pain to some extent.

shield132

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We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

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