Topic: Making crypto succeed in the real world? - page 12. (Read 1199 times)
This may sound like a perfect idea, but this same idea may be a problem and probably increase crime because may arm robberies may want to stop people on the road and hold them at a gun point to forcefully collect their phone and demand for their coins. Bitcoin and other cryptocurrency has been criticized by the government as being a promoter of crime, doing this may sound as making it more possible.
I think in future bitcoin lead some parts of economical activities and many of countries are accept bitcoin one by one.
If you ask my honest opinion in this matter, bitcoin does affect the economy of a country. As we all know that the economy of a country depends on the income of its individuals. If more people are earning then more stability is found in its finance. Bitcoin has provided job opportunities to thousands of people hence improving things a bit. But it is still unknown to majority of world population.
I don't think why most of the people underestimate the power of internet and explaining that government has a subsequent hold upon internet and can easily block the crypto sites. Also, internet facility is still not available to large scale users which can also be disturbance for making crypto succeed. I think both mobile and internet should be accessible to everyone in order to make crypto succeed in real world.
If that would have been easy then it could have been already being followed everywhere. But its not! Merchants fear because they have to track the sales, earnings, pay taxes and much more. There is no provision for this purpose yet and thats why they might not just accept it so easily. For customers it gets difficult to wait in the coffee shop until they get sufficient confirmation of the bitcoin process. So there are not single but many problems in using this currency. Until the time we dont see huge set up for this then we cant see any progress as whole really.
True, there are a lot of obstacles that cryptocurrencies need in order to overcome these challenges regarding its acceptability and I think it is still on its early age in that issues. First it should be able to breakthrough its barriers like internet connnection availability and tools/establishments that would provide bitcoin friendly experience then I guess everything will follow. Also they should be able to manage the high fees that we are experiencing in every transactions.
If that would have been easy then it could have been already being followed everywhere. But its not! Merchants fear because they have to track the sales, earnings, pay taxes and much more. There is no provision for this purpose yet and thats why they might not just accept it so easily. For customers it gets difficult to wait in the coffee shop until they get sufficient confirmation of the bitcoin process. So there are not single but many problems in using this currency. Until the time we dont see huge set up for this then we cant see any progress as whole really.
You are absolutely correct! It is hassle free if we just need our cellphone, the internet connection but as to the proces it might take time. There are just things in this world that crypto currency will not make it easier, just like what you said, purchasing a coffee, or anything that can be quickly done with our fiat money. Most especially when there is a problem with the internet connection.Well, the best important thing to make it be possible to happen is the use and presence of the internet connections. No doubt, this will be a chance to happen but maybe it takes much more time because like what some other's said it is not an easy things and there's a lot of things that we needed to consider first. But if it will be happen, I believe that it makes benefits to us most specially in doing transactions.
I think in future bitcoin lead some parts of economical activities and many of countries are accept bitcoin one by one.
I think regulations and adoptions are the major things that need to be done if we are going to see cryptocurrencies been use by all works of life. Wallets providers need to come up with a good infrastructures that well influenced public adoptions because many people are arguing how comfortable it is for one to used bitcoin for petty transactions.
This is something that would happen if there are no more regulations in the crypto market and all countries will adopt the payments via digital currencies-even the countries that are still developing. This is the ideal world that most of us wants and I hope and yearn for this day to happen. The new generations should be learning this new type of technology in that way they can carry the torch and pass it to the next one- innovated and modified better for a better world to use.
Those are not bad ideas but I do not think it's going to work for several reasons, first of all you want cryptocurrency wallets installed in every single phone, but if my phone came with an application like that and I didn't use cryptocurrencies I'll just uninstall it, second we do not need adoption of crypto wallets we need adoption of cryptocurrencies, if I am not holding cryptocurrency I do not need a wallet, and for your second and third point I do not think that is really necessary.
Yes I agree, this type of ideology may work in a perfect world but in the real world this is not going to happen.
For the questions- ICO have been doing this, they are trying to create wallets for their own coin. I have a lot of coins from bounties that have their own wallet.
Wallet alliance - I do not think that will work, but if you mean wallet that support multiple coins, I am using Jaxx and it supports multiple coins.
for the third question - I do not think it is going to ever happen.
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Yes, I am talking about multi-currency crypto wallets. The question also remains, who will convert between crypto assets, the customer wallet or the merchant? It could be implemented at both ends I guess. Im trying to find those ICO's that are closing this loop from consumer to merchant.
Currently in Denmark, its the merchant that pays the fees for each transaction and usually 700 USD for a creditcard machine to get started + annual subscription fees. They would be interested in a cheaper solution. However, customers have not interest in holding crypto, unless they can get an interest rate on it? Currently its zero procent in the fiat bank!
Awhile ago, there were headlines in the news regarding "700 million android phones" having backdoors pre-installed on them by china:
Quote
Pre-installed Backdoor On 700 Million Android Phones Sending Users' Data To China
WASHINGTON — For about $50, you can get a smartphone with a high-definition display, fast data service and, according to security contractors, a secret feature: a backdoor that sends all your text messages to China every 72 hours.
Security contractors recently discovered preinstalled software in some Android phones that monitors where users go, whom they talk to and what they write in text messages. The American authorities say it is not clear whether this represents secretive data mining for advertising purposes or a Chinese government effort to collect intelligence.
International customers and users of disposable or prepaid phones are the people most affected by the software. But the scope is unclear. The Chinese company that wrote the software, Shanghai Adups Technology Company, says its code runs on more than 700 million phones, cars and other smart devices. One American phone manufacturer, BLU Products, said that 120,000 of its phones had been affected and that it had updated the software to eliminate the feature.
https://www.nytimes.com/2016/11/16/us/politics/china-phones-software-security.html
WASHINGTON — For about $50, you can get a smartphone with a high-definition display, fast data service and, according to security contractors, a secret feature: a backdoor that sends all your text messages to China every 72 hours.
Security contractors recently discovered preinstalled software in some Android phones that monitors where users go, whom they talk to and what they write in text messages. The American authorities say it is not clear whether this represents secretive data mining for advertising purposes or a Chinese government effort to collect intelligence.
International customers and users of disposable or prepaid phones are the people most affected by the software. But the scope is unclear. The Chinese company that wrote the software, Shanghai Adups Technology Company, says its code runs on more than 700 million phones, cars and other smart devices. One American phone manufacturer, BLU Products, said that 120,000 of its phones had been affected and that it had updated the software to eliminate the feature.
https://www.nytimes.com/2016/11/16/us/politics/china-phones-software-security.html
Before cell phones could be utilized as a major hub of finance, a more concentrated effort could be required to secure them. Better standardized practices to better eliminate data mining and backdoors. Of course, this could be impossible given backdoors are sometimes included by state intelligence/surveillance and there is a push for large corporations like apple to utilize weaker encryption standards (or no standards) on products like iphone.
I like that someone is thinking about ways to encourage crypto mass adoption.
Maybe if every active person on this forum told 10 people they know about bitcoin, and those 10 people each told 10 of their friends about it, some type of viral campaign could be worked out?
I've tried to do it in the past. I tried to give people I know bitcoin for free in the hope that they would use it and maybe see its not that bad a thing. Maybe they would even like it and use it in the future. Not a single person accepted the free btc I wanted to give them. lol I guess they are too nice or maybe I look like a nigerian prince?
If phone security is still an issue, then we still need some kind of card or detached device like Ledger to do payment? Or maybe just use phones for smaller everyday payments and an extra device for large transactions, or a simple time-delayed "confirmation" from a third-party phone.
Sadly I didn't know you then when giving away free btc!!!
I guess education of crypto needs to come before adoption.1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
It has increased for a very short period of time.Bitcoin User Base Surges, Coinbase Adds 1 Mln Users in 1 Month
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
I doubt this will be agreed.3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.
They can develop or use something that was being done or exposed on github but I don't know if they have to do this. Anyway they can simply receive payments and use their local exchange for integrating it with their accounting principles.Have you seen anyone doing this?
None.Do we need a wallet alliance that can stipulate a standard?
You mean exchangers will agree which a standard principle for their wallets? I don't think so.What else needs to happen besides regulation?
Movements to fight the fraudsters and fudsters peeps. 
The only thing which is going to push crypto into the real world is adoption, we have to make adoption easier and more accessible for businesses. Becuase changing from the bottom up doesn't seem to be working, and isn't going to be beneficial for companies. The only way this is going to work is if companies adopt bitcoin to accept it as a payment because they think they're going to be able to make more revenues or save on some expenses. If it is smart for companies to take crypto, and they're well informed on it, then they're going to do it.
We need adoption though.
We need adoption though.
Hi, I would love to hear your input on this.
As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.
At least three things needs to happen:
1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.
Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?
Best crypto greetings,
Vindberg
https://validators.com
I've heard this news, moreover the UEA and Russia will try to do this after they plan to adopt bitcoin, nothing is impossible there, it will happen only for a time not yet know when more precisely. As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.
At least three things needs to happen:
1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.
Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?
Best crypto greetings,
Vindberg
https://validators.com
The crypto market will definitely develop. There is probably almost no doubt about it. Even those who used to consider bitcoin and any other coin as "bubble" understand that they simply have no arguments for such claims. Demand for digital coins is growing, and the law of supply and demand has not been canceled.
With thousands or even hundred thousands of coins in crypto,i dont think the supply wasnt enough to sustain the demand even half of people in the world uses crypto.And crypto will successfully pass the world in the near future,as the users continue to grow,and the technology continue to upgrading
Hi, I would love to hear your input on this.
As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.
At least three things needs to happen:
1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.
Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?
Best crypto greetings,
Vindberg
https://validators.com
As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.
At least three things needs to happen:
1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.
Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?
Best crypto greetings,
Vindberg
https://validators.com
I can't wait for this to happen. The convenience and ease on purchasing just by using our smart phones but there are some downsides when it comes to transaction speed and could possibly be charged of high transaction fees. Hoping that there's a real crypto that will be able to function and deliver as a currency not just a store of value or investment vehicle.
I know lots of innovations are still coming to try to perfect or correct the flaws of bitcoin as a currency so let's just wait patiently for that moment to come and enjoy its advantages and comfort that it come bring to all of us consumers.
Hi, I would love to hear your input on this.
As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.
At least three things needs to happen:
1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.
Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?
Best crypto greetings,
Vindberg
https://validators.com
Those are not bad ideas but I do not think it's going to work for several reasons, first of all you want cryptocurrency wallets installed in every single phone, but if my phone came with an application like that and I didn't use cryptocurrencies I'll just uninstall it, second we do not need adoption of crypto wallets we need adoption of cryptocurrencies, if I am not holding cryptocurrency I do not need a wallet, and for your second and third point I do not think that is really necessary.As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.
At least three things needs to happen:
1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.
Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?
Best crypto greetings,
Vindberg
https://validators.com
Yes I agree, this type of ideology may work in a perfect world but in the real world this is not going to happen.
For the questions- ICO have been doing this, they are trying to create wallets for their own coin. I have a lot of coins from bounties that have their own wallet.
Wallet alliance - I do not think that will work, but if you mean wallet that support multiple coins, I am using Jaxx and it supports multiple coins.
for the third question - I do not think it is going to ever happen.
Previously, many retailers accepted Bitcoin as payments like overstock, newegg, etc. I think this is already in the adoption, but the tax regulation is not there so many merchants are still hesitant to continue this step. I think to realize this certainly is not as easy as expected, there is still much need for improvement from crypto to be more easily accepted by everyone and time.
Hi, I would love to hear your input on this.
As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.
At least three things needs to happen:
1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.
Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?
Best crypto greetings,
Vindberg
https://validators.com
Those are not bad ideas but I do not think it's going to work for several reasons, first of all you want cryptocurrency wallets installed in every single phone, but if my phone came with an application like that and I didn't use cryptocurrencies I'll just uninstall it, second we do not need adoption of crypto wallets we need adoption of cryptocurrencies, if I am not holding cryptocurrency I do not need a wallet, and for your second and third point I do not think that is really necessary. As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.
At least three things needs to happen:
1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.
Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?
Best crypto greetings,
Vindberg
https://validators.com
At least three things needs to happen:
1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.
1. Okay? For that people need to know how to use bitcoin.1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.
2. They definitely won't agree with a standard protocol. There are patent laws and legal issues.
3. I believe there are tons of icos doing that. But don't know which one is legit.
What crypto has attained till date from the day of its existence itself a good success. Now, slowly things were getting advanced with majority of the countries focus on digital growth. As a part I expect crypto adoption to take place in a large scale than that of the present.
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