Is bitcoin ready for the mainstream? - page 2.

blatchcorn

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Quote from: Ron~Popeil on June 06, 2014, 02:45:51 AM

Quote from: ABitNut on June 06, 2014, 01:03:46 AM

The question isn't "Is Bitcoin ready for the mainstream?". The question is: "Is the mainstream ready for Bitcoin?"

When it does start taking off many companies will jump on the bandwagon to profit from the rush. This year might be that year. Things are moving faster and faster.

Yep. Much faster than I expected.

The way I see it is eBay will accept it first. Amazon will make a surprise announcement 1 moth later saying that they are accepting it, then companies all over the world will accept it in a huge rush like falling dominoes

Ron~Popeil

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Quote from: ABitNut on June 06, 2014, 01:03:46 AM

The question isn't "Is Bitcoin ready for the mainstream?". The question is: "Is the mainstream ready for Bitcoin?"

When it does start taking off many companies will jump on the bandwagon to profit from the rush. This year might be that year. Things are moving faster and faster.

Yep. Much faster than I expected.

Nawaytes

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Is Bitcoin ready for the mainstream? NO, it's goes up again after many down activity for bitcoin markets

ABitNut

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I'm a cynic, I'm a quaint

The question isn't "Is Bitcoin ready for the mainstream?". The question is: "Is the mainstream ready for Bitcoin?"

When it does start taking off many companies will jump on the bandwagon to profit from the rush. This year might be that year. Things are moving faster and faster.

Ron~Popeil

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Quote from: beetcoin on June 06, 2014, 12:50:28 AM

i don't know if it can ever be ready for mainstream.. if by mainstream you mean almost everyone will have to know how to use it. problem is that there are people who are such luddites that they barely know how to turn on a computer.. if it were to go mainstream, the scammers would come out in droves.

I think at this point going mainstream is inevitable. You would be hard pressed to find more than a few people that can't turn on a computer and even less that can use a cell phone. I see elderly people all the time with iPads or iPhones. With some apps to make it easy to use it will become widespread just as the internet did.

Who would have thought grandmother would be poking you on facebook or sending you a text message?

beetcoin

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i don't know if it can ever be ready for mainstream.. if by mainstream you mean almost everyone will have to know how to use it. problem is that there are people who are such luddites that they barely know how to turn on a computer.. if it were to go mainstream, the scammers would come out in droves.

RenegadeMind

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THINK IT, BUILD IT, PLAY IT! --- XAYA

Is Bitcoin ready? Yes. Is the mainstream ready for Bitcoin? No.

Ron~Popeil

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Quote from: Light on June 05, 2014, 09:30:30 PM

Quote from: Ron~Popeil on June 05, 2014, 09:21:43 PM

I don't think off the chain is a bad thing overall, I just try to avoid having to trust anyone. The trustless servers will resolve that fairly soon.

The ease of use is just an infrastructure issue and will also be resolved.

Once these two major ones are solved I do think bit coin is ready for main stream use. There are some smaller things like transaction fees when the volume goes up but those are small issues that the core developers can address.

Well it isn't worth the effort and the bloat of the blockchain to implement an alternate chain simply for midget transactions. I mean most of those are under $50 and if you can't trust an entity not to steal your $50 why the hell are you using it in the first place?

Transaction fees are denominated in BTC and not in fiat, so I'd doubt tx fees would need much changing unless the fiat value of BTC sky rocketed to ridiculous proportions and miners were still interested in BTC to sell for fiat rather than BTC for hoarding BTC.

Hey man 50 bucks is 50 bucks. If you lose 50 bucks enough times it gets painful.

If BTC goes mainstream it will skyrocket in value compared to fiat.

knight22

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--------------->¿?

Not before better infrastructures are in place and when the protocol will scale enough.

Light

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Circa 2010

Quote from: Ron~Popeil on June 05, 2014, 09:21:43 PM

I don't think off the chain is a bad thing overall, I just try to avoid having to trust anyone. The trustless servers will resolve that fairly soon.

The ease of use is just an infrastructure issue and will also be resolved.

Once these two major ones are solved I do think bit coin is ready for main stream use. There are some smaller things like transaction fees when the volume goes up but those are small issues that the core developers can address.

Well it isn't worth the effort and the bloat of the blockchain to implement an alternate chain simply for midget transactions. I mean most of those are under $50 and if you can't trust an entity not to steal your $50 why the hell are you using it in the first place?

Transaction fees are denominated in BTC and not in fiat, so I'd doubt tx fees would need much changing unless the fiat value of BTC sky rocketed to ridiculous proportions and miners were still interested in BTC to sell for fiat rather than BTC for hoarding BTC.

Ron~Popeil

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Quote from: Light on June 05, 2014, 09:15:43 PM

Quote from: Ron~Popeil on June 05, 2014, 09:07:26 PM

We have some issues to overcome. Transaction speed is one. I am not a fan of off the chain transactions for obvious reasons so maybe some sort of high speed side chain can be implemented.

What exactly is bad about off-chain transactions? They avoid bloating the blockchain with a crap ton of midget transactions and helps save those users fees anyway.

Quote from: Ron~Popeil on June 05, 2014, 09:07:26 PM

Ease of use is another. Most people don't want to take the time to learn how to protect and use their funds. The current system sacrifices security for ease of use so that will take some time as well.

Ease of use implementations will come as the userbase becomes bigger and a significant percentage of it is laymen. Currently, most of the people using Bitcoin are tech savvy enough to figure out how to secure their coins.

I don't think off the chain is a bad thing overall, I just try to avoid having to trust anyone. The trustless servers will resolve that fairly soon.

The ease of use is just an infrastructure issue and will also be resolved.

Once these two major ones are solved I do think bit coin is ready for main stream use. There are some smaller things like transaction fees when the volume goes up but those are small issues that the core developers can address.

Light

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Activity: 742

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Circa 2010

Quote from: Ron~Popeil on June 05, 2014, 09:07:26 PM

We have some issues to overcome. Transaction speed is one. I am not a fan of off the chain transactions for obvious reasons so maybe some sort of high speed side chain can be implemented.

What exactly is bad about off-chain transactions? They avoid bloating the blockchain with a crap ton of midget transactions and helps save those users fees anyway.

Quote from: Ron~Popeil on June 05, 2014, 09:07:26 PM

Ease of use is another. Most people don't want to take the time to learn how to protect and use their funds. The current system sacrifices security for ease of use so that will take some time as well.

Ease of use implementations will come as the userbase becomes bigger and a significant percentage of it is laymen. Currently, most of the people using Bitcoin are tech savvy enough to figure out how to secure their coins.

Cranky4u

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An 'all in one' wallet would go a long way to helping smooth out integration of different coins.

Ideas;
1. Split the wallet into a few sections with each area being used for their particular 'benefit'. e.g. a set of tabs for each crypto-coin, a 'home tab' summary' and another tab that provides a 'Joe public' dot point guide on advantages for each coin
2. Provide direct link of wallet to users choice of exchanges for conversion between wallet compartments e.g. BTC > LTC via a user defined exchange which operates an immediate BUY<> SELL

Anymore thoughts? Lets make a brainstorming session and punch it up for development consideration...

Ron~Popeil

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We have some issues to overcome. Transaction speed is one. I am not a fan of off the chain transactions for obvious reasons so maybe some sort of high speed side chain can be implemented.

Ease of use is another. Most people don't want to take the time to learn how to protect and use their funds. The current system sacrifices security for ease of use so that will take some time as well.

Elwar

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Viva Ut Vivas

You need new friends.

darkphantom934

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Whenever I try to explain bitcoin to my friends, I always get a rather negative response, somewhere along the lines of "That sounds dangerous" or "Sounds like it enables money laundering..."

With the negative press caused by recent hacks and "transaction malleability", bitcoin is developing an increasingly negative public image. Also, some people don't really enjoy the fact that we have to wait 10 minutes to get at least 1 confirmation, and these people go on to think of bitcoin as "criminal money".

My final question is, do you think bitcoin is ready for the mainstream, or should we focus more effort on improving public image?

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