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Topic: Mainstream Adoption - page 5. (Read 6460 times)

hero member
Activity: 546
Merit: 500
July 22, 2015, 07:49:04 PM
#73
It's education mainly in my opinion. If you were to take a school and teach all the students there how to use bitcoin then I'm sure in 5 years time that will become the most developed bitcoin space and adoption would be through the roof!

In western countries even the school students are aware about the bitcoins. But it is not the same situation in Asian countries. If you check this forum there are many teenagers who are already own bitcoins and that is a great sign. It will hit the mainstream but when, that cannot be judged.
hero member
Activity: 1005
Merit: 500
July 22, 2015, 07:26:47 PM
#72
I think the bad reputation Bitcoin gets for the hackings and anonymity associated with it. Many people apart of the mainstream media believe Bitcoin is for criminals, possibly because of the rep the Deep Web gives it. Nonetheless, it takes education to teach the public that Bitcoin is more than that.
for ppl it's still easier to trust big institutions and governments his wealth is somehow protected. If the bank fails, at least the government will try to get him back some of his money. With Bitcoin, he still has to trust his exchanges, his computer, his wallet
newbie
Activity: 14
Merit: 0
July 22, 2015, 05:55:52 PM
#71
Adoption for bitcoin and other crypto currencies is only inevitable and it is coming within a few years.
newbie
Activity: 56
Merit: 0
July 22, 2015, 05:47:04 PM
#70
Bitcoin has a steep learning curve. installing software is not comfortable because ppl hear about viruses and about bitcoin and hacking all the time. ppl are afraid I might do something wrong and lose yours wealth.

True. For this reason bitcoin is not ready for mass adoption.
hero member
Activity: 1005
Merit: 500
July 22, 2015, 05:36:07 PM
#69
Bitcoin has a steep learning curve. installing software is not comfortable because ppl hear about viruses and about bitcoin and hacking all the time. ppl are afraid I might do something wrong and lose yours wealth.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
July 22, 2015, 03:42:21 PM
#68
We're going to run into waves of adoption. This is inevitable, and will make for a bumpy ride, but also slower growth, which may be a healthy thing.

I'm waiting to see a wave of genuine adoption. I don't think it's arrived yet. What's going on now is a few curious people nipping around the edges. If and when it does we'll sure as shit know it.
legendary
Activity: 1092
Merit: 1000
July 22, 2015, 02:57:51 PM
#67
We're going to run into waves of adoption. This is inevitable, and will make for a bumpy ride, but also slower growth, which may be a healthy thing.
member
Activity: 94
Merit: 10
www.bitcart.io
July 22, 2015, 02:40:49 PM
#66
It's education mainly in my opinion. If you were to take a school and teach all the students there how to use bitcoin then I'm sure in 5 years time that will become the most developed bitcoin space and adoption would be through the roof!
sr. member
Activity: 414
Merit: 250
July 22, 2015, 02:39:28 PM
#65
people don't want to pay that much for bitcoins
they think $ 280 is very for a "virtual currency" most people think is a toy currency
This is a common thought-bias. You can buy as little as $5 worth of bitcoin. This is not like stocks, where you have to buy a full share.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
July 21, 2015, 07:43:39 PM
#64

Also businesses also might not like the risk of having their business bank account closed by their bank for being linked to Bitcoin transactions.


They can use a payment processor. Having to mess around with an exchange themselves makes it pretty unviable for a business. More risk and lots of extra hassle.

If banks start to blacklist bank transfers from Bitpay and Coinbase then we got problems.

legendary
Activity: 929
Merit: 1000
July 21, 2015, 07:18:25 PM
#63
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

Mainstream adoption hasn't even begun. Why is it taking so long? Well why did it take so long for the internet to become mainstream? Why did it take so long for people to stop using paper mail and using email? Why did it take so long for people to stop fearing the concept of paying for something you aren't seeing in real life? (internet shopping).

Dude, radical change takes time, and guess what... Bitcoin is the most disruptive technology since the internet itself.
I've yet to bump into a stranger that actually Knows bitcoin. The few that have heard of it usually mention Mt. Gox in little to no detail. I usually take that opportunity to politely teach them about bitcoin and why its better.

Also businesses also might not like the risk of having their business bank account closed by their bank for being linked to Bitcoin transactions. I know members of the public have had their bank accounts closed for Bitcoin related transactions, and Bitstamp had to switch banks a while back. The banks are running scared and this behavior is hindering the adoption of Bitcoin. They can't hold it back forever but they won't give up without a fight.
hero member
Activity: 616
Merit: 500
July 21, 2015, 06:14:22 PM
#62
Check out http://getgems.org/ it's an easy to use chat app that allows you to send btc like sending a text message:

Son: I need 2 btc dad
Dad: 2 btc
Son: got it, thanks

They also just released a bot which Telegram and Gems user can use coinbase from within the apps.
http://getgems.ghost.io/2015/07/21/getgems-development-update-15/
sr. member
Activity: 593
Merit: 250
July 21, 2015, 05:55:55 PM
#61
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

Mainstream adoption hasn't even begun. Why is it taking so long? Well why did it take so long for the internet to become mainstream? Why did it take so long for people to stop using paper mail and using email? Why did it take so long for people to stop fearing the concept of paying for something you aren't seeing in real life? (internet shopping).

Dude, radical change takes time, and guess what... Bitcoin is the most disruptive technology since the internet itself.
I've yet to bump into a stranger that actually Knows bitcoin. The few that have heard of it usually mention Mt. Gox in little to no detail. I usually take that opportunity to politely teach them about bitcoin and why its better.
sr. member
Activity: 342
Merit: 250
July 21, 2015, 09:13:12 AM
#60
people don't want to pay that much for bitcoins
they think $ 280 is very for a "virtual currency" most people think is a toy currency
member
Activity: 112
Merit: 10
Crypto-Games.net: DICE and SLOT
July 20, 2015, 11:06:00 PM
#59
The fees are broken down here https://bit-x.com/guide/bitx-cards

More expensive than a credit card but possibly cheaper and far more rapid than having to dick around with exchanges. Depends on your spending patterns I guess.
I love how the US is in the same boat as North Korea... just sick...
Quote
Restrictions

Residents from the following countries may order cards, but may not raise card limits to level 2: Afghanistan, Albania, Algeria, Angola, Cambodia, Ecuador, Guyana, Indonesia, Iran, Iraq, Kuwait, Democratic People's Republic of Korea, Lao People's Democratic Republic, Myanmar, Namibia, Nicaragua, Pakistan, Panama, Papua New Guinea, Romania, Sudan, Syrian Arab Republic, Uganda, United States and Minor Outlying Islands, Yemen, Zimbabwe.
source: https://bit-x.com/guide/bitx-cards

I may be amero-centric in this view, but I think the US regulatory / judicial systems are a major barrier.  There is huge market opportunity for billion dollar investors to make winfalls in bitcoin based industry, but the investors are very slow to enter this market because so many early adopters are getting thrown in jail.  The regulatory burden is overwhelming.  This is made even worse in the areas that are not regulated.  The unregulated areas could land investors in jail for any number of out dated backward laws dating back to the steam engine.

I would like to think that the US would eventually break out ahead of the pack, but I'm not totally convinced.  I think that major adoption will follow when some country gets serious about allowing it's citizens the freedom to develop bitcoin based industry without looking over their shoulder.

You are right, the U.S policies around finances and the transfer of finances around the world are draconian now. Since 9/11, as a few in banking have told me.  And if the other institutions/businesses don't play by U.S rules, then they can't play the dollar/US economy game.

This is why you see many exchanges either US-centric or non-available to US citizens, but rarely both at the same time. It's the US that has put itself in this boat and right about now, the rest of the world has quite possibly got real tired of it. 

This has worked for the U.S for as long as the US dollar is the worlds reserve currency and the US had a strong economy of happy spenders that other countries could profit off of. But when the US dollar falls off the reserve currency horse, which it's already doing in view of oil, then the whole thing falls and the US will get left behind. That's what's unfortunate. The US is generally at the forefront of technological developments, but not this time really. Even Canada has passed a 'hands off' law for Bitcoin to allow for its development.
legendary
Activity: 1456
Merit: 1000
July 20, 2015, 09:02:29 PM
#58
I think the bad reputation Bitcoin gets for the hackings and anonymity associated with it. Many people apart of the mainstream media believe Bitcoin is for criminals, possibly because of the rep the Deep Web gives it. Nonetheless, it takes education to teach the public that Bitcoin is more than that.

And that is the hard part.  New's articles are not concerned about what BTC looks like in article just what makes biggest headlines.  Silk Road is a perfect example.  BTC was not bad it was the people and how they used it. 

But BTC got a bad rap on many many news outlets and tied to illegal activity.
legendary
Activity: 2828
Merit: 1515
July 20, 2015, 09:00:16 PM
#57
I think the bad reputation Bitcoin gets for the hackings and anonymity associated with it. Many people apart of the mainstream media believe Bitcoin is for criminals, possibly because of the rep the Deep Web gives it. Nonetheless, it takes education to teach the public that Bitcoin is more than that.
legendary
Activity: 1456
Merit: 1000
July 20, 2015, 08:45:03 PM
#56
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
Education. People are stupid and don't like learning new things. and We need unique and attractive applications. Shouldn't be too hard

And we need the proper people educated aswell.  Such as people who are in power to make the laws.

One other thing is we need education BTC can be used for good.  A lot of news stories have BTC linked to bad things.  We really need to have a positive outlook with bitcoin.
sr. member
Activity: 593
Merit: 250
July 20, 2015, 08:16:30 PM
#55
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
Education. People are stupid and don't like learning new things. and We need unique and attractive applications. Shouldn't be too hard
sr. member
Activity: 294
Merit: 250
July 20, 2015, 08:07:35 PM
#54
In all honesty, Bitcoin is not yet ready for mass adoption. Don't get me wrong, minimal fees are great. However, this feature is overshadowed by all the hoops and obstacles companies have to go through to deal in Bitcoin, as well as the lack of fraud protection and overall user friendliness.

Why is it not ready? And there doesn't seem to be any hoops or obstacles. All they need to do is accept it which is simple to integrate whether you're an online store or brick and mortar shop. Fraud protection will be covered by a payment processor too, not that they have to worry about that much unlike credit card companies.

The hoops and obstacles lie in setting up wallets, payment processors, etc. This may seem like common sense to us, but backing up and 2FA and whatnot are foreign entities for the average Joe. There are also regulations and laws regarding btc in some regions, mainly USA. Also, for many businesses, incorporating Bitcoin also means the parties they interact with must embrace Bitcoin. Employees also need to be trained in BTC literacy. And at the end of the day, how often will clients or customers choose Bitcoin over fiat?

It seems like Bitcoin is the perfect  option at face value, but in all honesty its too much work to adopt it in order to save a few percents on some transactions.

There will be a time for Bitcoin to see mass adoptions by businesses, but that time is not now.
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