How to improve the usability of bitcoin? - page 4.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: TheUltraElite on March 15, 2020, 10:46:00 PM

Quote from: Pronzegirl on March 08, 2020, 02:36:52 PM

This happens when others are convinced of the value of bitcoin well and buy it and financial dealings with it, as the establishment of new projects based on the use of bitcoin as a means of payment in exchange for obtaining some commodities contributes to strengthening the use of bitcoin and digital currencies in general and I see that this starts spreading in the current era.

It's all good but we don't see projects end up doing so much when they already promised some of it. Every project that said would enhance the acceptance of bitcoin ended up being a pump and dump of their own shitcoin. Maybe one or two were good but that's almost nothing compared to what failures we have seen.

The use of bitcoin again primarily comes in gambling and trading. So it's mostly the speculation markets. This may change and more merchants may accept it in future.

If common establishments like Starbucks or other coffee shops, and known supermarkets will accept bitcoin, I think that is already good application for bitcoin. Because coffee shops and supermarkets are already part of daily life of most people, it would be easier for them to pay bitcoin if it is available as payment method. However, most of us are still treating bitcoin as investment, in which, someday we are hoping that it will increase its value. And so as much as possible, we don't want to spend our bitcoin.

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: Free1bitco.in on March 09, 2020, 01:58:29 AM

Quote from: kioicoin on February 03, 2018, 04:16:52 AM

There is a speculative (investment) presence in the current bitcoin discussion scene. Only known and used by a few people.

If bitcoin really wants to become a universal currency payment system, how can we optimize the design for ease of use and make it easy for most people to get started easily and with low risk?

I think it's quite difficult to ensure that, especially if the price of bitcoin has high volatility and the rejection of the government as a currency. for now, it's okay to use bitcoin for the universal transaction tool, and people have realized that too. however, to make it recognized, I think it's difficult. some governments designate bitcoin as technological development and give warnings about the risks. so, to make that happen, we can only use it for outside transactions with trusted people, that's a way to reduce risk, and gradually make people use it.

bitcoin is already recognized . being recognized because its being hated and being recognized because many people are talking about its benefits . bitcoin can be used by all as long as its allowed on your region and not only trusted people can use it but as well as people that have bad intentions . we must know if what kind of people we are transacting with because btc is risky not only by its unstable value but risky because once you sent it to wrong people , those people can dissapear and wont return your coin or there is no way to recover it by yourself .

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: Pronzegirl on March 08, 2020, 02:36:52 PM

This happens when others are convinced of the value of bitcoin well and buy it and financial dealings with it, as the establishment of new projects based on the use of bitcoin as a means of payment in exchange for obtaining some commodities contributes to strengthening the use of bitcoin and digital currencies in general and I see that this starts spreading in the current era.

It's all good but we don't see projects end up doing so much when they already promised some of it. Every project that said would enhance the acceptance of bitcoin ended up being a pump and dump of their own shitcoin. Maybe one or two were good but that's almost nothing compared to what failures we have seen.

The use of bitcoin again primarily comes in gambling and trading. So it's mostly the speculation markets. This may change and more merchants may accept it in future.

Free1bitco.in

hero member

Activity: 1624

Merit: 500

Quote from: kioicoin on February 03, 2018, 04:16:52 AM

There is a speculative (investment) presence in the current bitcoin discussion scene. Only known and used by a few people.

If bitcoin really wants to become a universal currency payment system, how can we optimize the design for ease of use and make it easy for most people to get started easily and with low risk?

I think it's quite difficult to ensure that, especially if the price of bitcoin has high volatility and the rejection of the government as a currency. for now, it's okay to use bitcoin for the universal transaction tool, and people have realized that too. however, to make it recognized, I think it's difficult. some governments designate bitcoin as technological development and give warnings about the risks. so, to make that happen, we can only use it for outside transactions with trusted people, that's a way to reduce risk, and gradually make people use it.

Pronzegirl

newbie

Activity: 21

Merit: 1

This happens when others are convinced of the value of bitcoin well and buy it and financial dealings with it, as the establishment of new projects based on the use of bitcoin as a means of payment in exchange for obtaining some commodities contributes to strengthening the use of bitcoin and digital currencies in general and I see that this starts spreading in the current era.

Wexnident

hero member

Activity: 2702

Merit: 672

I don't request loans~

It's actually fine the way it is. Unlike with fiat currencies which is controlled by the government, bitcoin is backed by the community supporting it, so as long as the community continues to grow and support it, it'd grow well enough to quite usable imo. Even now, there are already quite a few companies supporting/accepting payments as bitcoins and many mediums are being made out there to transact bitcoins straight from the wallets to avoid fees of exchanges.

As for mass adoption of it to the world, well, that would require knowledge of what it is and how it is used. It's a lot to ask for right now imo, especially with how most users of technology is just using them because they have an opinion of it being "fast,helpful,trusted" and imo, these opinions didn't come from themselves but rather came from the notion of others must be using them. If we stay as a minority (crypto community) then it'd be hard to adopt btc to the entire world.

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

It is less about utility, more about the trust and availability. Currently for average person, it is still very difficult to get an idea why bitcoin is good and how to purchase it and store it safely

First, that many people regard it as a type of scam, this is true for many kind of high return investments and especially true for very high return investment like bitcoin. To fully trust bitcoin is not easy, people must understand the nature of its design, this requires in-depth understanding of modern IT development and especially the financial knowledge, which most of the people do not have

Then to download a wallet, secure the seed, go to exchanges or P2P platforms and purchase coins, these all require high level of IT skill

So currently you see mainly two type of users: IT experts and traders, since traders do not need to touch the real coin, only speculating on exchanges, they trade it like any other foreign currency pair. That's why exchanges are more influential, they are the portal to bring in most of the users without deep IT knowledge

desertfox470

sr. member

Activity: 542

Merit: 251

The optimization of Bitcoin's usage is upon the awareness and knowledge of its supporters and spectators regarding the core essence of its existence. Based on the transactions performed at this point in time, Bitcoin enthusiasts usually benefit from its function as a platform for online payment globally and look at it as a form of investment rather than an actual currency that would be circulated in the market to be used as one of the main currency among the existing majority. Due to the fact that Bitcoin is decentralized and its volatility is an evident problem why people can't fully rely on it, it is also the reason why it can't be compared with government distributed currencies and why the adaptation of Bitcoin has been a long and challenging journey.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: Shasha80 on March 02, 2020, 12:10:56 PM

Increase the use of bitcoin we can do by making many merchants accept payments with bitcoin.

How do you "Make" a merchant accept bitcoin? Dont extort them for it Cheesy

Allow them to use it at their own will. It will take time but will happen gradually but not completely.

Quote

But the obstacle not all merchants can do this, because there must be permission from the government to be able to accept payments with bitcoin.

Governments wont give a direct order that bitcoin is accepted. They will no do that since mainstream fiat based companies will always oppose this. The government is basically a political party running the country. Why would they risk their vote bank?

Quote

I have not found a way to increase the use of bitcoin, other than making bitcoin a payment tool.Then have to make bitcoin becomes a global currency in order to increase the use of bitcoin.

Its use a trading commodity is also present. While this the major source of exchange of bitcoin it is also growing well with increased risks of exchanges going scam or hacked.

finaleshot2016

legendary

Activity: 1778

Merit: 1009

Degen in the Space

Quote from: Shenzou on March 02, 2020, 02:59:59 PM

Quote from: kioicoin on February 03, 2018, 04:16:52 AM

There is a speculative (investment) presence in the current bitcoin discussion scene. Only known and used by a few people.

If bitcoin really wants to become a universal currency payment system, how can we optimize the design for ease of use and make it easy for most people to get started easily and with low risk?

i think that nowadays bitcoin has become more of an investment rather than a payment method, people treat it as if it was any other asset in the market they invest their money in it in order to get profit and they rarely use it for payments, and that is not the image that the creator has dreamed for it, so in order for it to change we have to stop hording it and and start treating it as an actual currency and start accepting it and spending it in the shops and in our daily lives.

Agree, tho, not all of us have the same perspective towards bitcoin and most of us think it as an asset only in the market.
That's why if ever we wanted to improve the usability of bitcoin, we should think of an application where bitcoin is used in our life.

It's like embracing modern technology that we have today since it's an opportunity and let us show that we really admire bitcoin.

LeGaulois

copper member

Activity: 2940

Merit: 4101

Top Crypto Casino

Quote from: ?? on ??

...

The point is companies have no incentive to start to use any cryptocurrency. Why should they start to play with it? It represents extra work, more accounting, more risks with local laws and so on. All this for less than 1% of their annual total sales? No thanks.
If they were certain, for example, that their sales would increase by 25% in this case, then it's worth looking into it.

Donations? Wikipedia, one of the most visited website worldwide, accepted donations, did you see a lot of noise about Bitcoin then? Nope. I could give other examples like Archive.org and many more. Yet no hype.

Why attracting people to 'invest' on a cryptocurrency? Why not attract them to use it a currency for their daily needs.
Is it funny to tell your friend to invest and to buy abcdshitcoin and 1 month later your friend lose everything. Yeah, I talk abcddhitcoin as an example but it's the same with any currency, it's not funny to give wrong advice to people and to see the losing xx% right after.

Shenzou

sr. member

Activity: 1400

Merit: 283

Quote from: kioicoin on February 03, 2018, 04:16:52 AM

There is a speculative (investment) presence in the current bitcoin discussion scene. Only known and used by a few people.

If bitcoin really wants to become a universal currency payment system, how can we optimize the design for ease of use and make it easy for most people to get started easily and with low risk?

i think that nowadays bitcoin has become more of an investment rather than a payment method, people treat it as if it was any other asset in the market they invest their money in it in order to get profit and they rarely use it for payments, and that is not the image that the creator has dreamed for it, so in order for it to change we have to stop hording it and and start treating it as an actual currency and start accepting it and spending it in the shops and in our daily lives.

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Quote from: kioicoin on February 03, 2018, 04:16:52 AM

There is a speculative (investment) presence in the current bitcoin discussion scene. Only known and used by a few people.

If bitcoin really wants to become a universal currency payment system, how can we optimize the design for ease of use and make it easy for most people to get started easily and with low risk?

There is nothing like designing bitcoin, it’s all about the wallet you’re making use of. There are wallets that has simple interface and make things easy for newbies to understand and there are others with complicated design and only good at making things a bit more difficult for them. So, it’s all about the wallet you’re making use of. There are already good wallets that are recommended for newbies like Coinbase. In terms of risk, there is really nothing you can do about that.

But, as time goes on and lots of people begins to join the bitcoin market, the market cap will grow and the market will become less volatile I guess. So for now they can only be investing what they ca afford to invest and nothing more. There is nothing you can do about the risk.

Shasha80

sr. member

Activity: 1876

Merit: 318

Increase the use of bitcoin we can do by making many merchants accept payments with bitcoin. But the obstacle not all merchants can
do this, because there must be permission from the government to be able to accept payments with bitcoin. I have not found a way to
increase the use of bitcoin, other than making bitcoin a payment tool.Then have to make bitcoin becomes a global currency in order to
increase the use of bitcoin. The first step to be able to make bitcoin more useful and able become a global currency by promoting bitcoin
to all people in the world.

Sanugarid

full member

Activity: 1442

Merit: 153

★Bitvest.io★ Play Plinko or Invest!

Quote from: kioicoin on February 03, 2018, 04:16:52 AM

There is a speculative (investment) presence in the current bitcoin discussion scene. Only known and used by a few people.

If bitcoin really wants to become a universal currency payment system, how can we optimize the design for ease of use and make it easy for most people to get started easily and with low risk?

I think that would be hard to deal with, even though we want everyone to know and learn about bitcoin, high risks would always be there no matter what. Maybe we can start endorsing bitcoin all throughout the world by taking advantage of the circumstances of the current spread of coronavirus. We can start donating money but in the form of bitcoin, it would make a huge noise for sure as people start wondering how can they use it without knowing that it can be converted into fiat. As curiousity hits them up, it could be a turning point for them to try and learn about bitcoin which may lead for them to invest on it in the future as they get impressed of its features.

LUCKMCFLY

legendary

Activity: 2590

Merit: 1882

Leading Crypto Sports Betting & Casino Platform

Quote from: kioicoin on February 03, 2018, 04:16:52 AM

~snip~

I think that the same global economic structure is heading to migrate towards Bitcoin technology and not only because of the technology it represents but the value of the money that it brings with it, the fact of making transfers from one place to another without the supervision of a third party It is something very big, in addition to everything that is happening worldwide, the market falls, the effect of the coronavirus, has caused more panic in the markets, at some point these markets such as Bitcoin will begin to see how best alternative, very similar as you see gold, I think it is already happening. In every speculative market there are risks, the important thing is to take them with restraint, as the number of people entering the Bitcoin market increases will be reflected in the price of bitcoin, the safest is to increase.

tbterryboy

sr. member

Activity: 2030

Merit: 323

Quote from: joeperry on February 28, 2020, 07:20:30 AM

Optimizing the usage of Bitcoin, ease of use, would primary mean improvement on its prior features enabling people to grasp and gain understanding on the essence of Bitcoin. Its function as a channel of payment is very beneficial for everyone because of its digital form, yet brought by its nature it is automatically risky due to high volatility. As per the adaptation of it globally, it would take long before it gets massive attention from diverse group of people around the world.

I think that volatility is a massive factor but along with that I believe the confirmation time is one thing that irritates me a lot personally when I am doing bitcoin transactions. I mean yes it hardly takes 30 minutes but would you prefer paying at a coffee cafe and then waiting 30 mins while they confirm your payment? Absolutely not!

Then another problem I see is the buyer's protection because of irreversible nature although being irreversible and decentralized is one of it's biggest advantages too. I think bitcoins would be best suited for e-commerce purpose and gambling market and we all know how dominant bitcoins has gotten in the gambling market already.

Swordsoffreedom

legendary

Activity: 2884

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

Quote from: TIDOVEE on February 29, 2020, 02:17:38 PM

Bitcoin usability is so far not what many of us have difficulty in, but looking to the improvement for the general usage, trading at lower price will help. Being a digital currency, educating people on the use of technology to meet up will help, Orientations, seminars and lecturing those who care to know is also important, sensitizing those who does not care is also important. If bitcoin can be brought to a state at which it can be used for daily trading. It will help too.

Yes, to improve the usability of bitcoins, the best way is to spread the number of sectors where bitcoins could be used. For example, now we can transact money instead of banking’s, if people can use bitcoins to buy offline things including online things and can even recharge one's cellphone, that will be a huge plus point. In this way, the usability of bitcoins can be increased.

coinfinger

sr. member

Activity: 1638

Merit: 278

Quote from: YuginKadoya on February 28, 2020, 11:38:37 AM

In my opinion, there is no need for improvement on the usability I think we are the one needs to adjust and not Bitcoin we should gain knowledge on the basics of Bitcoin, and there is no safe trading or investment on Bitcoin there is a sure risk but that risk can be lessened if a person would gain experience from getting involved with the volatile market of Bitcoin and other decentralized cryptocurrencies.

But for bitcoins to be accepted in more and more markets will mean that there will always be some new customers who will use bitcoins for the first time and let me be very honest, even though I am into bitcoins for years now but every week and month I realize something new about it's functioning and working because when I was new I believe someone could have easily scammed me by double spending and/or sending transaction with no fees.

I think if only there is a platform where we can deposit bitcoins and that platform acts as a medium for example we consider a platform like skrill/paypal where we can deposit from there we use it, I guess bitpay is doing a superb job there but then again you have to verify yourself and then if you are verifying yourself at bitpay I would think paypal is far better!

shoreno

full member

Activity: 1750

Merit: 118

btc is not only used by a few people but there are so many people use btc .

btc is is also a speculative tool and not just its presence . bitcoin is digital so everything or anyone that can acces the internet can use this btc but still depends on thier countries legality if btc is restricted on them or the access to the btc related site is block on them . to make it low risk , we need it to be stabilize . to make it easier we need to create a physical version so that dummies can also use it on any ages .

Topic: How to improve the usability of bitcoin? - page 4. (Read 1197 times)