This is the only thing I don't understand right now. It is extremely cheap. The potential is huge, El Salvador goes all in BTC and people still don't have the eyes to see it. More countries will soon join in, people will regret it later for not buying but it's their choice. It's still so cheap and this is not normal!
A
lot of people find it very difficult to use and don't see the point in it - even those who aren't technologically challenged.
Look at it from the point of view of someone who does nothing more technical on their phone than play on a few games, browse the internet and use facebook. They have a bank account with a debit card they can simply tap onto a console in a shop to purchase things and someone on the end of the phone should they run into a problem with fraud (a cloned card for example).
You then tell them about a fantastic new technology called BTC and perhaps let them know a few caveats before they invest (based on the assumption they aren't using a third party to hold their coins):
- If you send the coins to a wrong address by accident, they are gone forever and there's nothing you can do. No-one you can phone. They're gone.
- If you want to send a payment to anyone, you will incur a fee for doing so. This varies and can be high when lots of people are using the network.
- You will have to swap your fiat cash for BTC and the price difference from day-to-day can vary massively.
- You are solely responsible for the coins you own. If someone gets hold of your private key(s) because your security isn't up to scratch, you have nothing.
BTC is still very niche. The biggest benefit from BTC (your coins, your money) is also one of it's biggest flaws. People make mistakes and some people aren't confident using technology.
That's just my 10 sats worth though.
