HOW WE CAN SLOWLY BOOST BITCOINS TOWARDS MASS ADOPTION

Cryddit

legendary

Activity: 924

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Quote from: gaston909 on November 03, 2013, 10:12:30 AM

I tried asking my currency broker if they could supply me with some bitcoins. (They are a currency broker after all)

It didn't go down well.

You expected it might? You're basically talking about a worldwide payment system that undercuts him. Adoption of bitcoin would hurt his business.

Currency brokers are unlikely to be helpful. Bitcoin makes them obsolete.

gjgjg

sr. member

Activity: 448

Merit: 250

Quote from: AnonyMint on November 25, 2013, 07:55:03 PM

Quote from: Light on November 25, 2013, 06:50:39 AM

Mass adoption requires time and for more people to see the benefits of using it in comparison to fiat currency. It also requires less obstruction by governments which is exactly opposite to what is actually happening in the real world. I suppose BTC is going to go one way or the other; up or ground zero.

The comparison to fiat means Bitcoin transactions fail big time:

https://bitcointalksearch.org/topic/economics-of-transactions-in-bitcoin-is-a-fail-346787

And you all also entirely missed the point I made which is Bitcoin is held in large amounts by investors, and investors don't spend their BTC on transactions (much, maybe 1 - 5% of their holdings at most) and instead FX cash to fiat after gains have been reached. Thus you can never distribute the currency out to the people who want to spend. When the investors begin cashing out, the price will collapse towards and very near to 0. If you don't understand this mechanism, then review all my posts over the past weeks. I don't have time to repeat all the logic again here.

youre right, its an investors game right now, why spend 1 btc today at 915$ when it could be worth $1000 tomorrow?
once the price starts to stabilise and ppl get paid in btc ppl will start spending in shops.

AnonyMint

hero member

Activity: 518

Merit: 521

Quote from: knarzo on November 25, 2013, 08:10:02 PM

Quote from: AnonyMint on November 25, 2013, 07:55:03 PM

Quote from: Light on November 25, 2013, 06:50:39 AM

Mass adoption requires time and for more people to see the benefits of using it in comparison to fiat currency. It also requires less obstruction by governments which is exactly opposite to what is actually happening in the real world. I suppose BTC is going to go one way or the other; up or ground zero.

The comparison to fiat means Bitcoin transactions fail big time:

https://bitcointalksearch.org/topic/economics-of-transactions-in-bitcoin-is-a-fail-346787

And you all also entirely missed the point I made which is Bitcoin is held in large amounts by investors, and investors don't spend their BTC on transactions (much, maybe 1 - 5% of their holdings at most) and instead FX cash to fiat after gains have been reached. Thus you can never distribute the currency out to the people who want to spend. When the investors begin cashing out, the price will collapse towards and very near to 0. If you don't understand this mechanism, then review all my posts over the past weeks. I don't have time to repeat all the logic again here.

Nobody asked you to repeat 'your' logic. Maybe you haven't recognized that Wink

So your very mature, logical retort is stick your fingers in your ears and yell "na-na, na-na, na-na". Got it Wink

knarzo

full member

Activity: 126

Merit: 100

Quote from: AnonyMint on November 25, 2013, 07:55:03 PM

Quote from: Light on November 25, 2013, 06:50:39 AM

Mass adoption requires time and for more people to see the benefits of using it in comparison to fiat currency. It also requires less obstruction by governments which is exactly opposite to what is actually happening in the real world. I suppose BTC is going to go one way or the other; up or ground zero.

The comparison to fiat means Bitcoin transactions fail big time:

https://bitcointalksearch.org/topic/economics-of-transactions-in-bitcoin-is-a-fail-346787

And you all also entirely missed the point I made which is Bitcoin is held in large amounts by investors, and investors don't spend their BTC on transactions (much, maybe 1 - 5% of their holdings at most) and instead FX cash to fiat after gains have been reached. Thus you can never distribute the currency out to the people who want to spend. When the investors begin cashing out, the price will collapse towards and very near to 0. If you don't understand this mechanism, then review all my posts over the past weeks. I don't have time to repeat all the logic again here.

Nobody asked you to repeat 'your' logic. Maybe you haven't recognized that Wink

AnonyMint

hero member

Activity: 518

Merit: 521

Quote from: Light on November 25, 2013, 06:50:39 AM

Mass adoption requires time and for more people to see the benefits of using it in comparison to fiat currency. It also requires less obstruction by governments which is exactly opposite to what is actually happening in the real world. I suppose BTC is going to go one way or the other; up or ground zero.

The comparison to fiat means Bitcoin transactions fail big time:

https://bitcointalksearch.org/topic/economics-of-transactions-in-bitcoin-is-a-fail-346787

And you all also entirely missed the point I made which is Bitcoin is held in large amounts by investors, and investors don't spend their BTC on transactions (much, maybe 1 - 5% of their holdings at most) and instead FX cash to fiat after gains have been reached. Thus you can never distribute the currency out to the people who want to spend. When the investors begin cashing out, the price will collapse towards and very near to 0. If you don't understand this mechanism, then review all my posts over the past weeks. I don't have time to repeat all the logic again here.

troy112

sr. member

Activity: 448

Merit: 250

The only thing you fan do is try and educate every one about it, but you can't force anybody. Its a big change for them. I have tried to send some mails to e-commerce with bitcoin guide and all.. Some have replied they'll see to it. Others are just ignoring it. They will understand in time Wink

eternalgloom

legendary

Activity: 1792

Merit: 1283

I have seen one major website in Belgium adopt Bitcoin recently: pizza.be

It basically allows you to buy food from any restaurant listed with Bitcoin

Examples:
In Brussels there are now 113 restaurants accepting Bitcoin for online orders

Lewis2

member

Activity: 70

Merit: 10

The masses get scared off by the huge value of a single Bitcoin. It is not understandable for someone that doesn't understand that it can be a legit valuta that you would pay 0.005 for a cup of coffee. Understanding takes time mostly, and it takes people that understand Bitcoin to spread the message. Get away from the desk and spread the love.

Light

hero member

Activity: 742

Merit: 502

Circa 2010

Mass adoption requires time and for more people to see the benefits of using it in comparison to fiat currency. It also requires less obstruction by governments which is exactly opposite to what is actually happening in the real world. I suppose BTC is going to go one way or the other; up or ground zero.

AnonyMint

hero member

Activity: 518

Merit: 521

The masses have no desire to use this scary volatile thing as a currency (evidence Bitpay which claims to take all the FX risk away), only as a get-rich-quick lotto bet.

You can't accomplish what your OP desires to. Impossible. The concentration of Bitcoins makes this impossible.

Martijnvdc

sr. member

Activity: 322

Merit: 250

Quote from: seafarer124 on November 03, 2013, 12:43:52 PM

I really don't know why merchants do not accept BTC, they have nothing to lose and plenty to gain. Maybe, the thought of the unknown.

It's a "scary new currency", they have plenty to lose.

But yeah, if i was a merchant i would definetly accept bitcoin. I consider it to be very profitable in the long run.

nate008

member

Activity: 70

Merit: 10

Quote from: ?? on ??

My personal approach has been to push everyone that I know in the E-Commerce space towards adoption - it's a no-brainer - paypal and the banks have shafted them long enough

Bitpay's latest data showing adoption by over 10,000 merchants and $6.4mn in action in September helps make that pitch (was on TC)

You can have 100 millions merchants , what it matters is if the clients pay with btc , those numbers from bitpay are all related to mining rigs

seafarer124

sr. member

Activity: 302

Merit: 250

I have sent a few emails to merchants. With the email I have sent a link to BitPay, and other links which may be relevant to their business.

I really don't know why merchants do not accept BTC, they have nothing to lose and plenty to gain. Maybe, the thought of the unknown.

I have never received any replies to my emails.

One day they will realise the benefits, especially if you are transacting internationally.

vokain

legendary

Activity: 1834

Merit: 1019

Quote from: gaston909 on November 03, 2013, 10:12:30 AM

I tried asking my currency broker if they could supply me with some bitcoins. (They are a currency broker after all)

It didn't go down well.

My business is going elsewhere!

fantastic

imrer

full member

Activity: 154

Merit: 100

You can't force people to use it. Just do your job and they'll understand... More successful bitcoin users will be more people would like to be like them -> bigger adoption.

honky1492

member

Activity: 118

Merit: 10

Asking support if a online shop accepts Bitcoin is the way to go.

Also, buy with your BTC so merchants have reason to keep Bitcoin option

gaston909

sr. member

Activity: 336

Merit: 250

I tried asking my currency broker if they could supply me with some bitcoins. (They are a currency broker after all)

It didn't go down well.

My business is going elsewhere!

Trade101

full member

Activity: 126

Merit: 100

Bitstamp trader

bitcoin use in M-Pesa (mobile payment system in Africa) could be also a step into
mass adoption

gjgjg

sr. member

Activity: 448

Merit: 250

i sent them and a few other retailers a mail just innocently asking if they take BTC because 'i heard that they did from a friend'.

if you get them to do the research of BTC themselves they are far more likely to get interested in it than if you provide them the answers up front: they feel like youre trying to recruit them if you do and psychologically it doesnt work:)

edit: they emailed back to say theyre looking into it

Shallow

sr. member

Activity: 938

Merit: 255

SmartFi - EARN, LEND & TRADE

Just get the word out, like you're doing now.

Topic: HOW WE CAN SLOWLY BOOST BITCOINS TOWARDS MASS ADOPTION (Read 2024 times)