New Bitcoin adopters will come as the infrastructure grows. Bitcoin is not just an investment.
Every day more businesses begin to accept it as payment and more BTC ATMs are assembled and installed.
Yes, the value of bitcoins is largely speculative at this time, but Bitcoin's long-term worth as a transfer protocol is what gives it its current value.
Worrying about new speculative adopters is a short-term concern.
Topic: The problems that needs to be solved in order to get new bitcoin adopters - page 2. (Read 1803 times)
April 30, 2014, 03:31:05 PM
April 30, 2014, 03:26:29 PM
problem 4: bitcoin is still beta, and too many scammers and hackers around
problem 5: Mt Gox won't be easily forgotten
problem 5: Mt Gox won't be easily forgotten
April 30, 2014, 03:22:41 PM
I believe that new bitcoin investors are facing problems that needs a fix.
First, everyone hears about btc by either social media, tv, internet articles, googling digital currency alternatives, etc.
Problem 1: They either play it off because they did not take the time out to research the utility or do not understand the concept. (solves double spending etc).
Problem 2: They do not have the capital to invest a decent amount in bitcoin, so they blow it off.
First, everyone hears about btc by either social media, tv, internet articles, googling digital currency alternatives, etc.
Problem 1: They either play it off because they did not take the time out to research the utility or do not understand the concept. (solves double spending etc).
Problem 2: They do not have the capital to invest a decent amount in bitcoin, so they blow it off.
Problem 3: It doesn't actually offer anything they want.
April 30, 2014, 03:17:49 PM
I think you make a good point about how joe blow doesn't want to put a large some of money for him into something where he will only get a piece. People don't want to feel like they own a fraction of something. I think the move to mbtc would help this a lot.
April 30, 2014, 03:15:01 PM
It would be nice if there were like worthless practice coins we could use for newbs like me.
Next a newb needs to have capital to invest. I am sure many who heard about bitcoin probably brush it off, because they are cash strapped. I do not think Joe blow would put 100 dollars into bitcoin for a fraction of a bitcoin. Maybe a sub unit would make 100 dollars seem like much more.
But I think as time evolves, more and more might (or might not) get into bitcoin because it could pop up in familiar places (social media, press etc).
Thoughts or solutions on my theories?
Next a newb needs to have capital to invest. I am sure many who heard about bitcoin probably brush it off, because they are cash strapped. I do not think Joe blow would put 100 dollars into bitcoin for a fraction of a bitcoin. Maybe a sub unit would make 100 dollars seem like much more.
But I think as time evolves, more and more might (or might not) get into bitcoin because it could pop up in familiar places (social media, press etc).
Thoughts or solutions on my theories?
I believe that altcoins are an important part of the solution to these problems, especially Dogecoin because of how you can have a huge amount for less than 100$, and the easygoing and friendly image of it that the medias and its community portrays, and also because of how easy it is for a noob to practice with it by tipping on Reddit or whatever.
This, imho, acts like a "gateway coin" to make it easier to use and understand Bitcoin and cryptocurrencies in general.
April 30, 2014, 03:03:31 PM
I believe that new bitcoin investors are facing problems that needs a fix.
First, everyone hears about btc by either social media, tv, internet articles, googling digital currency alternatives, etc.
Problem 1: They either play it off because they did not take the time out to research the utility or do not understand the concept. (solves double spending etc).
Problem 2: They do not have the capital to invest a decent amount in bitcoin, so they blow it off.
I believe many people would get involved in bitcoin, if they were in the right circumstances.
To be invested in something, you have to get the utility of it (in this case, bitcoin). This takes time and research (and over 5+ months) - I still am learning about bitcoin. There needs to be an easier way to teach people about bitcoin.
I think the MIT free coin giveaway is a step in the right direction because now the people can actually use bitcoin. It would be nice if there were like worthless practice coins we could use for newbs like me.
Next a newb needs to have capital to invest. I am sure many who heard about bitcoin probably brush it off, because they are cash strapped. I do not think Joe blow would put 100 dollars into bitcoin for a fraction of a bitcoin. Maybe a sub unit would make 100 dollars seem like much more.
But I think as time evolves, more and more might (or might not) get into bitcoin because it could pop up in familiar places (social media, press etc).
Thoughts or solutions on my theories?
First, everyone hears about btc by either social media, tv, internet articles, googling digital currency alternatives, etc.
Problem 1: They either play it off because they did not take the time out to research the utility or do not understand the concept. (solves double spending etc).
Problem 2: They do not have the capital to invest a decent amount in bitcoin, so they blow it off.
I believe many people would get involved in bitcoin, if they were in the right circumstances.
To be invested in something, you have to get the utility of it (in this case, bitcoin). This takes time and research (and over 5+ months) - I still am learning about bitcoin. There needs to be an easier way to teach people about bitcoin.
I think the MIT free coin giveaway is a step in the right direction because now the people can actually use bitcoin. It would be nice if there were like worthless practice coins we could use for newbs like me.
Next a newb needs to have capital to invest. I am sure many who heard about bitcoin probably brush it off, because they are cash strapped. I do not think Joe blow would put 100 dollars into bitcoin for a fraction of a bitcoin. Maybe a sub unit would make 100 dollars seem like much more.
But I think as time evolves, more and more might (or might not) get into bitcoin because it could pop up in familiar places (social media, press etc).
Thoughts or solutions on my theories?
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