What Is Stopping Cryptocurrency Propagation?

LiteCoinGuy

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In Satoshi I Trust

Quote from: tidda on July 06, 2014, 02:15:54 PM

They don't trust it. They think it could crash at any moment. And you know what? It can. So why hold bitcoin compared to a (relatively) rock-solid USD, Euro, or Renminbi? Tim Draper, as seemingly uninformed as he is, is onto the real issue with his venture.

possible yes, but why are you here then

?

Skele

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Quote from: tidda on July 06, 2014, 02:15:54 PM

They don't trust it. They think it could crash at any moment. And you know what? It can. So why hold bitcoin compared to a (relatively) rock-solid USD, Euro, or Renminbi? Tim Draper, as seemingly uninformed as he is, is onto the real issue with his venture.

USD rock solid ? i heard dollars are the biggest bubble in the history of mankind so they created it's successor Bitcoin which will enters Wall Street soon...

Meuh6879

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1) usb key
2) irrelevant
3) developper must reintroduce QR-code generator in bitcoin-core ...
4) people are dumb ... they already trust banker and think that normal to pay tax on credit.

Triffin

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What Is Stopping Cryptocurrency Propagation?

1) Overly complicated security features to protect and or use coins
2) Too many 'alt' coins that dilute/confuse the 'message'
3) Unusable wallets
4) Too many scams and scammers
5) What is It ?? Money ?? Transaction Network ?? Public Ledger ?? Store of Value ??
6) Arrogance and Indifference of the early adopters towards 'newbies' .. the very people you need to attract

Triff ..

Riniaiokl

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- "It's still too complex to hold Bitcoin (ok, iPhone wallets etc. are now here, but still requires some knowledge of security if you hold a reasonable amount of digital-cash)"
- "No consumers version to protect against volatility - For example a USD-pegged wallet (There was a beta called Bridgewalker, it died)"
- "Negative image due to bad (FUD or not) PR. Bitcoin's linked to drugs, money launder. Whether that is correct or not."

That is the 3 main reasons I see around me.

DooMAD

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Leave no FUD unchallenged

I think the only real thing holding it back is apathy and/or ignorance. Either people recognise there's a problem and can't be bothered to do anything about it, or they've bought into the FUD in the media and think crypto is a scam. Or perhaps they're just scraping by and think they're going to be okay. Every day people complain about stuff like austerity, corruption and debt. But that's all they do, complain. Even when they're presented with an alternative, they either don't believe it or they don't care enough to give it a try. The only thing they've ever known is fiat and anything else is an alien concept. For most people, anything alien is scary and therefore bad.

The question is, how do we change people's perceptions? Or do we have to wait until they're driven to the brink of poverty before they're desperate enough to try something new?

Cenenigo

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IMO it's 10 cents tips

CEG5952

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Buy and sell bitcoins,

Quote from: tidda on July 06, 2014, 02:15:54 PM

They don't trust it. They think it could crash at any moment. And you know what? It can. So why hold bitcoin compared to a (relatively) rock-solid USD, Euro, or Renminbi? Tim Draper, as seemingly uninformed as he is, is onto the real issue with his venture.

Certainly, it could crash at any moment. There are still huge risks in this market -- it is still young and untested. The protocol could travel some very rocky roads in the future, and this will be reflected in the price action.

tidda

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The next step is to make bitcoin accessible to people who don't want to hold their native currencies. Make bitcoin available to Argentinians, Ukrainians, Turks, and Cypriots who aren't as pampered as us when it comes to currency and won't mind the volatility.

tidda

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They don't trust it. They think it could crash at any moment. And you know what? It can. So why hold bitcoin compared to a (relatively) rock-solid USD, Euro, or Renminbi? Tim Draper, as seemingly uninformed as he is, is onto the real issue with his venture.

tidda

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Buying and holding bitcoin is also pretty damn easy now (for Americans) with Coinbase. And pretty easy for Europeans with Bitstamp. And pretty easy for Chinese. The main thing holding bitcoin back is the fact that people don't want to hold it unless they're speculating.

tidda

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The article says that bitcoin's future hinges on two things: retailers willingness to accept the currency and traders' faith in the currency. Well, the retailers take no real risk with Coinbase/Bitpay and we've seen large companies start accepting bitcoin. That's not the issue.

mczarnek

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Quote from: btcxyzzz on July 06, 2014, 07:33:50 AM

Quote from: CEG5952 on July 06, 2014, 04:51:43 AM

Governments have actually been quite receptive, considering what BTC is. This is a brand new technology, a new asset class. It won't achieve adoption overnight. I think we're doing quite well.

That's mystery to me too. Especially USA govt. I think they are digging the hole for themselves, and it's so good they are that stupid.

Why did Europe adopt the Euro? It prevented individual countries from printing their own money and paying their governments with inflation?

I think there actually are people in the government who see potential here and think it's the right way forward and don't want to stand in the way of progress.

Plus they've probably all bought some Bitcoin themselves before making announcements that it is legal

Cranky4u

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Quote from: btcxyzzz on July 06, 2014, 07:33:50 AM

Quote from: CEG5952 on July 06, 2014, 04:51:43 AM

Governments have actually been quite receptive, considering what BTC is. This is a brand new technology, a new asset class. It won't achieve adoption overnight. I think we're doing quite well.

That's mystery to me too. Especially USA govt. I think they are digging the hole for themselves, and it's so good they are that stupid.

Not just about the bloody US government. For BTC you HAVE to think globally!

btcxyzzz

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Monero - secure, private and untraceable currency.

Quote from: CEG5952 on July 06, 2014, 04:51:43 AM

Governments have actually been quite receptive, considering what BTC is. This is a brand new technology, a new asset class. It won't achieve adoption overnight. I think we're doing quite well.

That's mystery to me too. Especially USA govt. I think they are digging the hole for themselves, and it's so good they are that stupid.

LiteCoinGuy

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In Satoshi I Trust

Quote from: BitProdigy on July 05, 2014, 11:26:09 PM

It's only been invented for 5 years and look how far it has gotten already… I think it's propagating extremely rapidly personally.

people want to get rich and famous TODAY! no time to waste Wink

... and they sell when price is +50 $
thats the reason why most people never get "rich". buy high, sell low.

from 18 USD to 1200 USD in 18 months? too slow Roll Eyes

times were never better for BTC than in these days.

yayayo

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Quote from: BitProdigy on July 05, 2014, 11:26:09 PM

It's only been invented for 5 years and look how far it has gotten already… I think it's propagating extremely rapidly personally.

Yes, I don't think it is reasonable to say that Cryptocurrency propagation is being stopped. In fact it's propagating at very high velocity right now.

Cryptocurrency is a totally new concept. It is absolutely impressive how far it has been spreading in just 5 years.

ya.ya.yo!

mczarnek

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I think that Mt. Gox scared some people away.. I've talked to a couple people about crypto's and have gotten the response: "Oh, that's the one where a lot of people lost a whole bunch of money on when a whole bunch of them were lost/stolen?"

I also think that it's pretty big as it is, people in Bitcoin are used to exponential growth but that was mostly because people didn't really understand crypto's.. most now have by now heard of it, they have formed opinions, and some are going to get into it but don't see a rush.. if anything they'd like wait till more stores accept it and they can actually use it in various places.

Also, smart money realizes that while none of the platforms are 100% complete, Proof of Stake is going to obsolete Bitcoin. My money is on Nxt.

Finally, find me another stock where 40% growth in marketcap over 90 days would be something to complain about...

Lauda

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Terminated.

Quote from: CEG5952 on July 06, 2014, 04:51:43 AM

Governments have actually been quite receptive, considering what BTC is. This is a brand new technology, a new asset class. It won't achieve adoption overnight. I think we're doing quite well.

I'm just not sure what people want.
BTC to be accepted everywhere over night? You can pretty much buy almost anything using BTC now.

CEG5952

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Buy and sell bitcoins,

Governments have actually been quite receptive, considering what BTC is. This is a brand new technology, a new asset class. It won't achieve adoption overnight. I think we're doing quite well.

Topic: What Is Stopping Cryptocurrency Propagation? (Read 1789 times)