Mainstream Adoption - page 7. | Bitcointalksearch.org

newb4now

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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

Businesses are touching it, particularly those business whose customers ask to use BTC. So if you favorite business does not accept BTC explain to them why they should. If enough customers agree with you they will listen.

In the macro sense adoption will take time. Each country and industry has different factors that will impact adoption rates.

Patience is needed

PenguinFire

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The biggest issue I see with the mainstream adoption of bitcoin is the lengthy time it takes for confirmations. Credit and debit cards will always be much faster than bitcoin.

MicroGuy

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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

This is the obvious and real issue: People aren't going to add an extra step to their transaction payment flow for no reason. It's a novelty to go out and buy bitcoins and then buy some item with the BTC, but massive adoption won't be born of novelty.

The ignorance of the community is what's holding things back at the moment. There is an imbalance. At least half of this community should be discussing ways of integrating bitcoin into the payroll side of the equation.

Once you guys figure this out, Bitcoin will become an unstoppable tsunami liberating millions and unlocking the financial chains of mankind.

InceptionCoin

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Mainstream adoption came when using bitcoin will be profitable or it will be simplest way.
It will be profitable and simple when companies will be able not to convert btc to dollars, so they will get coins from customers and then pay for other services.

Bitcoin is profitable now only for worldwild money transfer.
It's the most simple way to buy pornography.
So way of adoption will be:
porno-sites will start to pay in btc to datacenters, then datacenters will start to pay in btc to electricity compnies, electricity companies will start to pay for fuel and so on.
We should wait.

Bit_Happy

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Quote from: Hopalong on July 18, 2015, 12:07:44 PM

Quote from: unamis76 on July 17, 2015, 05:08:37 PM

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

The really issue is mentality. Most people are a bit like race horses that have visors in their eyes and only look forward... people only look for what they know and what's already established without even considering new things. So yes: education is really needed.

Volatility isn't much of an issue nowadays, especially with services like bitpay...

Since i have to first buy bitcoins and then pay higher fees than i do with my credit card it would seem it is more than just mentality...

You reminded me, the key to Mainstream Adoption is many more people getting paid in Bitcoin, then all the cost and hassle of buying "spendable" BTC is removed.

Hopalong

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Quote from: unamis76 on July 17, 2015, 05:08:37 PM

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

The really issue is mentality. Most people are a bit like race horses that have visors in their eyes and only look forward... people only look for what they know and what's already established without even considering new things. So yes: education is really needed.

Volatility isn't much of an issue nowadays, especially with services like bitpay...

Since i have to first buy bitcoins and then pay higher fees than i do with my credit card it would seem it is more than just mentality...

tully

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Quote from: gentlemand on July 18, 2015, 10:51:56 AM

Quote from: tully on July 18, 2015, 10:47:11 AM

With that in mind, how long do you think you guys are going to be waiting for those precious BTC to become precious value?

What would you class as a precious value?

I think it'll be five to ten years before it starts to make proper headway and even then there'll be a long way to go.

There's no risk in getting on the internet, sending your first email or getting a smart phone. This thing is a much harder sell.

I was aiming towards monetary value but agreed buddy

gentlemand

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Quote from: tully on July 18, 2015, 10:47:11 AM

With that in mind, how long do you think you guys are going to be waiting for those precious BTC to become precious value?

What would you class as a precious value?

I think it'll be five to ten years before it starts to make proper headway and even then there'll be a long way to go.

There's no risk in getting on the internet, sending your first email or getting a smart phone. This thing is a much harder sell.

tully

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Quote from: BillyBobZorton on July 18, 2015, 10:37:53 AM

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

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.

With that in mind, how long do you think you guys are going to be waiting for those precious BTC to become precious value?

BillyBobZorton

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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

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.

Q7

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Well business do offer to accept bitcoin but some of them backed up after some time when they found out that the volume of payment coming from bitcoin is rather low. The problem here is mainly there's a lot of people who have not learned about bitcoin. In fact, for those who know about it, they would rather hog the coins than spending it. These things take time to change. Adoption is certainly progressing but I would say it's still at a slower pace.

gentlemand

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Quote from: lunarboy on July 18, 2015, 08:19:43 AM

Not seen this project before. I'd wager the fees charged per transaction work out more or less the same if not more than a credit card. (if you take into account the fees\commissions and the calculated exchange rate of BTC, compared to the average indexed bitstamp price)

The day some company open sources one of these, making it zero cost relative to the bitcoin network, plus only charges a one time fee for the card issue, is the day everyone wants one.

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.

lunarboy

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Quote from: ?? on ??

The mainstream knows how to use plastic

The Bitcoin Debit Card - now accepted wherever major credit cards are welcome worldwide

Gone are the days of asking: "do you accept bitcoin?"

Not seen this project before. I'd wager the fees charged per transaction work out more or less the same if not more than a credit card. (if you take into account the fees\commissions and the calculated exchange rate of BTC, compared to the average indexed bitstamp price)

The day some company open sources one of these, making it zero cost relative to the bitcoin network, plus only charges a one time fee for the card issue, is the day everyone wants one.

nextgencoin

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I've tried many times to tell the a Bitcoin purists that this app is going to take crypto mainstream but still they resist. It has a Bitcoin wallet integrated and you can send btc like a text message. The Bitcoin community should be getting 100% behind this app. IMO

https://mobile.twitter.com/getgemsorg?lang=en-gb

LFC_Bitcoin

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We're 10 years away from absolute worldwide, mainstream adoption imo. The simple reality is that people don't like change. They stick to what they know, what they trust even if it costs more.

It's going to be a gradual process but mainstream adoption will arrive, we may just have to wait a long time for it. Make sure you prepare for that day & stock up on coins because with only 21 million coins to be mined to even have 10 bitcoin should make you fairly wealthy.

tully

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Looking at the responses I think one of the key issues is education. BTC is tarnished in the sense that the media consistently pump out stories involving drugs, crime and how it is used with the dark web in general. At the same time I think organisations need to look at BTC and figure out "how does it benefit us?", which at the moment the spot for processing payments looks like a ripe opportunity for BTC startups.

I'm no expert but the process of sending and receiving BTC opposed to sending currency through central authorities has so many extended benefits (processing fees, speed) but at the same time lacks the same type of security banks offer but obviously there services such as escrow.

As stated before I don't think there a huge array of benefits for your every day customer wanting payment options but does have its pros (Greece).

helloeverybody

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I sell various items on ebay and id love to be able to accept my payments as btc but last time i tried ebay took it down it Sad

albert11

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I think remittance market is where bitcoin will take off.

Abra for example could go viral like uber did. Most people are unaware of this app and are still paying a hefty western union fee. That's why PR is as important as the service itself, if no one knows about it no one uses it.

LiteCoinGuy

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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

in my view bitcoin is moving pretty fast.

people overestimate what will happen within 1 year and underestimate what will happen within 10 years.

newb4now

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Quote from: redsn0w on July 18, 2015, 03:39:59 AM

Quote from: pooya87 on July 18, 2015, 03:35:39 AM

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

IMO it can have a couple of reasons:

the most important one is the volatility, nobody wants to spend something that can worth a lot more tomorrow. and nobody feels right accepting something that can worth a lot less tomorrow.
the solution for this is dumping bitcoin for fiat as soon as received, but this is an extra step while they can accept cash in the first place.

the other thing is that bitcoin is not mass adopted by users. so even if a business starts accepting bitcoin there aren't many people who know about it let alone willing to use bitcoin.

At the end it is only about knowledge, there are some people that have never used a (debit, credit, prepaid...) card ... and most important they do not know how to use a computer and/or surf internet. So before start to think "bitcoin mainstream" we should teach those people how to use a computer and explain to them why bitcoin is better than the actual economic system (based on the FIAT currencies).

I saw an adoption survey somewhere that had things broken down by demographic. Very few bitcoin owners (as a percentage of the total) are over 60. Most are 40 and under.

Most people over 80 have never owned a cell phone and never will. For bitcoin I would say there is also a maximum penetration for certain demographics but it is hard to determine with great accuracy

Topic: Mainstream Adoption - page 7. (Read 6476 times)