Topic: The problem with bitcoin is buying bitcoin (Read 5454 times)
I don't see the problem, its not so difficult to buy bitcoins, you have a lot of ways to buy.
why the problem is buying bitcoin while it should be the acceptance of the public.
Because acceptance of the public relies on the public actually being able to buy bitcoins.
why the problem is buying bitcoin while it should be the acceptance of the public.
In Australia we cant connect our bank accounts to Coinbase or Circle yet so buying bitcoins is still not as easy as it should be. Bitcoin ATM are great but that's only when there working. There is always Localbitcoins but it's not always convenient if you haven't got time to meet someone or cant do bank transfer for some reason.
I'm with the OP on this one, if we really want this to kick off in a big way then we need btc ATM everywhere, even an old granny could use one.
I agree that bitcoin ATMs are likely going to be the way that many people will end up buying bitcoin in mass. Using exchanges can be a cumbersome process that takes several weeks just to get setup. I'm with the OP on this one, if we really want this to kick off in a big way then we need btc ATM everywhere, even an old granny could use one.
I would say the hurdle preventing more BTC ATMs from popping up is the major capital investing required to have a BTC ATM, as you would need to have a lot of fiat (or a line of credit) at the exchange to cover any purchases of bitcoin by your customers.
I'm sure more and more ways will come around to earn Bitcoin. Such as decentralized game play and offering services.
You can already offer services on your own, but I mean like services that are laid out for you (such as where you can rent your car by the day... I can't remember what they are called.)
Edit:
www.getaround.com
You can already offer services on your own, but I mean like services that are laid out for you (such as where you can rent your car by the day... I can't remember what they are called.)
Edit:
www.getaround.com
If bitcoin is ever to become mainstream then it needs to sort out its achilles heel. That is buying bitcoin in the first place. The process should be so easy that even your gran can do it.
Unfortunately at the moment its way to complicated.
People won't buy bitcoin if they don't understand how to and if none buys bitcoin no one will spend bitcoin except geeks and criminals.
Unfortunately at the moment its way to complicated.
People won't buy bitcoin if they don't understand how to and if none buys bitcoin no one will spend bitcoin except geeks and criminals.
eh, i think the way is easy enough for me, not complicated at all,
too easy is not good, cause it will certainly cause some trouble for us, for example, it is too fast to buy it when the second minute we decide not to buy it.
There are MANY MANY exchanges in almost every pseudo civilized country.
Today is veasy to buy bitcoin, it will be only better with time.
Today is veasy to buy bitcoin, it will be only better with time.
In Australia we cant connect our bank accounts to Coinbase or Circle yet so buying bitcoins is still not as easy as it should be. Bitcoin ATM are great but that's only when there working. There is always Localbitcoins but it's not always convenient if you haven't got time to meet someone or cant do bank transfer for some reason.
I'm with the OP on this one, if we really want this to kick off in a big way then we need btc ATM everywhere, even an old granny could use one.
I'm with the OP on this one, if we really want this to kick off in a big way then we need btc ATM everywhere, even an old granny could use one.
I don't think there's a problem with buying Bitcoin. There are lots of ways to do this. They're just not advertised well enough. It's all about the marketing.
It's still not easy to buy Bitcoins, but it's at least getting easier. The hardest part is the initial steps. Once you jump through the first couple hoops and get your account set up and verified, it's easy.
I definitely agree it would be nice if there's a way you could simply go to a site, click buy and pay with Bitcoin. It shouldn't be any different than buying anything else online.
I definitely agree it would be nice if there's a way you could simply go to a site, click buy and pay with Bitcoin. It shouldn't be any different than buying anything else online.
I don t understand why you say its a problem to buy bitcoin, its not so complicate...what is complicate its more the way for spend your btc, there is not a lot of place where you can spend them !
I have used Circle and really like it. Bitvary on the otherhand is a SCAM!! Still waiting for Paypal to finish the claim. Steer clear of Bitvary!!!
As said earlier, Buying bitcoin is a problem for less educated people.
what does this average person can do with Bitcoin besides holding it and hope price increases? What can he buy that he cannot but with fiat? Exactly, nothing.
This is like saying using credit cards is not going to happen because you can buy everything with cash already. I see Bitcoin much like credit card, but much better, especially in fully globalized world in the future
Cryptocurrency is the fastest way to send or receive money internationally. In fact, in most cases it is faster than doing a transaction at any financial institution like a bank, credit union, etc ..., heck it is faster than sending a check, paying a bill online, direct deposit, ach transactions, and many other transactions.
If i had the absolute opportunity to do all of my spending via CC I would, no need for interest, fiance charges, fees, hold time, float time, charge backs, disputes, and a whole host of other time wasting and money burning activities.
I know I have too much in CC as it stands right now, because I feel a real need to place my CC holdings in a physical bank -- ain't that ironic.
The averageguy doesn't barely do worldwide transactions, we are talking daily life here.
For a person to use Bitcoin instead of CC, he has to buy the Bitcoin first, then hope it doesn't go down by the time you are about to buy. Just imagine you go out with X Bitcoin, then by the time you arrive at the shop, Bitcoin had one of these random 20% dips, and you can't buy what you intended to buy. It's a joke. With CC's you have the stable price of fiat, you know Y is going to equal Y by the time you arrive at the shop.
Admit it, as of right now Bitcoin isn't of much usage unless you:
1) Are holding it as a means of wealth storage
2) You want to do a worldwide transaction
3) You want to buy something fishy without getting caugh
That's all.
1) my reference to CC meant cryptocurrency not credit card, credit cards are not currency.
2) cryptocurrency is not for the "average guy", crypto is pointed to educated people, with some form of societal edge. They not only have the money to by a computer, but the time and resources to consider things such as cryptocurrency. Mining, coding, trading all well above the 'average guy' mentality.
3) as for: "Bitcoin had one of these random 20% dips" the bitcoin is still a bitcoin, as you know by looking at various markets the price of that btc varies from person to person and market to market. Just because the general market is willing to sell you their btc for $400 does not require me to sell it for $400. So no, btc your btc didn't drop 20% it was your faith in the currency that dropped the 20% if and only if you sell it at that new rate. Notwithstanding, just like it could go down it also could have gone up.
4) fiat is also sold on exchanges, the likely reason you are not investing in the trading side of fiat is probably the same reason why you use fiat so much because -- it doesn't fluctuate that often, it's stable. You make no profit when there is no volatility, no gamble, no risk.
5) if you don't have a reason to be in btc you should exit the market because the overall trend is down, so holding won't help you, and using for shopping won't help you. BTC is a trader's game, all of the other benefits are part of that game.
exactly this!
what does this average person can do with Bitcoin besides holding it and hope price increases? What can he buy that he cannot but with fiat? Exactly, nothing.
This is like saying using credit cards is not going to happen because you can buy everything with cash already. I see Bitcoin much like credit card, but much better, especially in fully globalized world in the future
Cryptocurrency is the fastest way to send or receive money internationally. In fact, in most cases it is faster than doing a transaction at any financial institution like a bank, credit union, etc ..., heck it is faster than sending a check, paying a bill online, direct deposit, ach transactions, and many other transactions.
If i had the absolute opportunity to do all of my spending via CC I would, no need for interest, fiance charges, fees, hold time, float time, charge backs, disputes, and a whole host of other time wasting and money burning activities.
I know I have too much in CC as it stands right now, because I feel a real need to place my CC holdings in a physical bank -- ain't that ironic.
The averageguy doesn't barely do worldwide transactions, we are talking daily life here.
For a person to use Bitcoin instead of CC, he has to buy the Bitcoin first, then hope it doesn't go down by the time you are about to buy. Just imagine you go out with X Bitcoin, then by the time you arrive at the shop, Bitcoin had one of these random 20% dips, and you can't buy what you intended to buy. It's a joke. With CC's you have the stable price of fiat, you know Y is going to equal Y by the time you arrive at the shop.
Admit it, as of right now Bitcoin isn't of much usage unless you:
1) Are holding it as a means of wealth storage
2) You want to do a worldwide transaction
3) You want to buy something fishy without getting caugh
That's all.
I know it is not Bitcoin problem, but I feel very unconfortable sending my ID scans to exchanges (I feel these ID scans might be stolen and misused). So localbitcoin is better, but the price is higher there.
I certainly is more difficult to buy BTC now compared to the Gox pre-AML/Kentucky-Your-Chicken days. That is the problem with regulations. However, it is not that bad compared to before when there was an exchange. In early 2011 I remember having to drive to another state to buy coins from some guy on OTC for cash.
I 100% agree! I would buy much more btc if I didnt have to deal with either meeting up with people. Trying to buy with paypal is impossible and ebay is way to high. Just a hassle in general...
ATM is a easy way to buy bitcoin.
Well, it might be easy if you live near one. Don't think there's any in my country at the minute, or if there is no where close. Some of these ATMs require a lot of ID and fingerprint scans as well etc which isn't that great for most people.
what does this average person can do with Bitcoin besides holding it and hope price increases? What can he buy that he cannot but with fiat? Exactly, nothing.
This is like saying using credit cards is not going to happen because you can buy everything with cash already. I see Bitcoin much like credit card, but much better, especially in fully globalized world in the future
Jump to: