Mainstream Adoption | Bitcointalksearch.org

dothebeats

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Cashback 15%

Quote from: gripflierGO on September 20, 2015, 05:03:14 AM

Quote from: centauribit on September 19, 2015, 11:52:48 PM

very few people in the world have any or truly understand what it is yet. Mainstream Adoption is a dreamlike for future and will take a few years yet.

Yes very few people are aware about the bitcoins yet and it will take a long time for bitcoins to hit the mainstream, bitcoin is getting popular day by day but it would not replace any major currency looking at the present scenario, when it replaces any major currency than there are chances that it would go on mainstream but still it would take few years.

There is already a large user-base in bitcoin, the only thing lacking for us to hit mainstream adoption is the number of places in which we could actually use bitcoins to buy stuff. If the number of services and merchants accepting bitcoins increased, we might actually see mainstream adoption but for now, there is a limited market in which we could actually spend our bitcoins. Agree or not, we are mainly using bitcoin for investing and not much more than that. Most of us use bitcoin as an investment opportunity to take us to our millions and not for actual spending.

RGBKey

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The volatile price and bad press reactions would be my first guess. It would be easy for people to leave a business just because they don't like decisions like choosing to accept bitcoin. People are strange.

bitcoin revo

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I agree that bitcoin from a merchant adoption perspective is a negative point (for now) but it is wonderful speculative and gambling instrument

gripflierGO

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Quote from: centauribit on September 19, 2015, 11:52:48 PM

very few people in the world have any or truly understand what it is yet. Mainstream Adoption is a dreamlike for future and will take a few years yet.

Yes very few people are aware about the bitcoins yet and it will take a long time for bitcoins to hit the mainstream, bitcoin is getting popular day by day but it would not replace any major currency looking at the present scenario, when it replaces any major currency than there are chances that it would go on mainstream but still it would take few years.

Herbert2020

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Quote from: centauribit on September 19, 2015, 11:52:48 PM

very few people in the world have any or truly understand what it is yet. Mainstream Adoption is a dreamlike for future and will take a few years yet.

yeah, in comparison to other assets , bitcoin is practically a toddler . so in order to go mainstream it has to grow much bigger than it has already. besides i think there are some faults in the system which needs fixing before anything big can happen.

centauribit

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very few people in the world have any or truly understand what it is yet. Mainstream Adoption is a dreamlike for future and will take a few years yet.

Rimmer

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Quote from: Enjorlas on September 14, 2015, 09:58:02 PM

Make it trendy. Bitcoin will become fashionable for people at first. And that is how it will be adopted. Just like Starbucks was an unknown company at first, it became trendy and mainstream.

Drinking out of a cup with a Starbucks logo is nothing but a fashion statement.

I can't see people using it just because its trendy. People need a real reason to use it and at the moment most don't. I think if bitcoins value started to rise continually then people might get involved then like they did back in late 2013 but when it crashes they'll soon flee so we need to hope it can grow steadily.

RGBKey

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Quote from: Enjorlas on September 14, 2015, 09:58:02 PM

Make it trendy. Bitcoin will become fashionable for people at first. And that is how it will be adopted. Just like Starbucks was an unknown company at first, it became trendy and mainstream.

I think people developing good looking mobile apps will be able to contribute to this. If your app is hard to use people aren't going to want to use bitcoin.

Enjorlas

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Make it trendy. Bitcoin will become fashionable for people at first. And that is how it will be adopted. Just like Starbucks was an unknown company at first, it became trendy and mainstream.

Drinking out of a cup with a Starbucks logo is nothing but a fashion statement.

Blawpaw

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Quote from: tully on July 17, 2015, 04:58:12 PM

Hey guys,

It's been dawning on me for some time that there is one thing that businesses must hate.. credit card fees. So with this in mind why is mainstream adoption taking so long! We're not saying invalidate fiat currency and only accept BTC or Alt-coin but businesses don't seem to want to touch it?

What do you guys think the real issue is? Education among consumers and businesses? Volatile BTC price?

Tully

Trust and demand are growing steadily, however, the high volatility that we still see in Bitcoin is the main reason that leads uninformed people to automatically quit on BTC

RGBKey

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Although the volatility can be solved through payment processors, the payment processors still take a fee, even though it is much smaller than a credit card fee. They don't want to put in the effort to switch over.

chennan

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Honestly, I think the fact that it's not mainstream yet might have something to do with the negative connotation in association to silk road (but not much)

The real reason why it hasn't gone mainstream, imo, has to do with the fact that it hasn't been publicly displayed on major news sites since the downfall of silk road and the downfall of btc's CEO. Give it some time though, evolution of currency is bound to happen and is going to happen in the near future. As for now, enjoy the low prices for btc and stack up while you can Grin

gentlemand

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Welt Am Draht

Quote from: neurotypical on September 14, 2015, 07:30:51 PM

This, and unfortunately some of the business end up not accepting Bitcoin, or at least go from Bitcoin exclusive to accepting fiat again, for example amagimetals.com was bitcoin only but backpedaled as it seems not enough people was using it. We need more time.

It was a bold move on their part but also an easy way to fail and make yourself look like a silly sausage this early in the game. Gradual incentivisation is more sustainable and less catastrophic.

neurotypical

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Quote from: centauribit on September 09, 2015, 11:50:01 PM

Adoption won't boom until you get people paid in bitcoin. Until then, all you'll see is merchants rarely accept bitcoin and instantly transfer it to fiat.

This, and unfortunately some of the business end up not accepting Bitcoin, or at least go from Bitcoin exclusive to accepting fiat again, for example amagimetals.com was bitcoin only but backpedaled as it seems not enough people was using it. We need more time.

klf

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You can't force these things. A lot of things need to happen for non-tech-geeks to get involved. All of these happen in the course of Bitcoin becoming more developed in general. There's no shortcut.

Coinut_Options

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mainstream adoption is taking place all around us. Being in the industry bitcoin is being used very creatively everywhere. Its being used in remittances and the users do not even know its happening. I think bitcoin is just fine. If your waiting for the next bubble, then I would say that will come with the next economic crisis.

centauribit

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Adoption won't boom until you get people paid in bitcoin. Until then, all you'll see is merchants rarely accept bitcoin and instantly transfer it to fiat.

Hopalong

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Quote from: Denker on September 05, 2015, 07:38:41 AM

Quote from: Hopalong on September 01, 2015, 07:50:10 AM

Quote from: Denker on September 01, 2015, 06:19:39 AM

Quote from: Hopalong on September 01, 2015, 05:36:08 AM

Quote from: Rimmer on September 01, 2015, 03:30:21 AM

Quote from: Hopalong on August 28, 2015, 04:45:03 AM

Quote from: dodgecharger on August 25, 2015, 07:31:22 PM

With no charge-backs it has less of a cost to accept bitcoin than credit cards so places could offer a slight discount for it to entice consumers to use bitcoin.

No chargeback is a bad thing for consumers who loose the safety credit cards offer. If consumers prefer the safety of credit cards then the merchants will ignore bitcoin.

Bitcoin must offer something that benefit people before they want to use it. No such benefit exist today and therefore there is no interest in bitcoin.

What is a credit card? It's a payment processor for fiat transactions. Well then there will be payment processors for bitcoin transactions much like bitpay that can offer protection against this.

You are right. A credit card is just a payment processor and the underlaying currency is not very interesting. I dont care what the underlying currency is called. I only care about how i can use it and if it is accepted wherever i need to spend my funds.

At the moment there is nothing with bitcoin that makes it better than my current payment processor and therefore is will not get used.

What about identity theft? Everytime you pay with your credit card the merchant has to secure all the information you have to give.There is a reason why brands like Target, Sony, Home Depot, Asley Madison attract hackers like flies.
Credit cards are working as a pull mechanism. With all that data hackers can empty your account very easy or sell your in deepweb and other criminals use your datas to do some other bs.
Bitcoin is working as push mechanism. No one can withdraw from your wallet without the private keys from your public adress.
If that is not a big advantage I would ask myself what else.

First: Is the targets of this mainstream adoption very conserned with those questions?

Second: If someone hacked a site and got my credit card info i just reported it and i would get my money back. Also for bitcoin to be usefull for most people you have to use online wallets. Then you get the same problem with hacking, but no chargeback to save your ass.

Regarding your second point and wallets. Did you ever heard of MyCelium? No personal information is needed. So here you go.Hacking of websites still possible but without stealing personal and financial data.

I have MyCelium on my Android and MultiBit HD on my computer. None of those can handle the exchange rate you need for mainstream use. There is no way around using online wallets and a 3rd party to handle the transaction volume. Just imagine several millions of transactions every hour on the blockchain...

isvicre

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The price is not volatile for a very long time. That's clearly not the issue.
Lack of knowledge, fake news about misusing, no big advertisement, no marketing could be real reasons.
I'm sure more people will use it after they learn. We just need to educate people in our circle.

Denker

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Quote from: Hopalong on September 01, 2015, 07:50:10 AM

Quote from: Denker on September 01, 2015, 06:19:39 AM

Quote from: Hopalong on September 01, 2015, 05:36:08 AM

Quote from: Rimmer on September 01, 2015, 03:30:21 AM

Quote from: Hopalong on August 28, 2015, 04:45:03 AM

Quote from: dodgecharger on August 25, 2015, 07:31:22 PM

With no charge-backs it has less of a cost to accept bitcoin than credit cards so places could offer a slight discount for it to entice consumers to use bitcoin.

No chargeback is a bad thing for consumers who loose the safety credit cards offer. If consumers prefer the safety of credit cards then the merchants will ignore bitcoin.

Bitcoin must offer something that benefit people before they want to use it. No such benefit exist today and therefore there is no interest in bitcoin.

What is a credit card? It's a payment processor for fiat transactions. Well then there will be payment processors for bitcoin transactions much like bitpay that can offer protection against this.

You are right. A credit card is just a payment processor and the underlaying currency is not very interesting. I dont care what the underlying currency is called. I only care about how i can use it and if it is accepted wherever i need to spend my funds.

At the moment there is nothing with bitcoin that makes it better than my current payment processor and therefore is will not get used.

What about identity theft? Everytime you pay with your credit card the merchant has to secure all the information you have to give.There is a reason why brands like Target, Sony, Home Depot, Asley Madison attract hackers like flies.
Credit cards are working as a pull mechanism. With all that data hackers can empty your account very easy or sell your in deepweb and other criminals use your datas to do some other bs.
Bitcoin is working as push mechanism. No one can withdraw from your wallet without the private keys from your public adress.
If that is not a big advantage I would ask myself what else.

First: Is the targets of this mainstream adoption very conserned with those questions?

Second: If someone hacked a site and got my credit card info i just reported it and i would get my money back. Also for bitcoin to be usefull for most people you have to use online wallets. Then you get the same problem with hacking, but no chargeback to save your ass.

Regarding your second point and wallets. Did you ever heard of MyCelium? No personal information is needed. So here you go.Hacking of websites still possible but without stealing personal and financial data.

Topic: Mainstream Adoption (Read 6460 times)