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Topic: What's stopping people from using bitcoin? (Read 202172 times)

hero member
Activity: 840
Merit: 501
August 03, 2016, 04:41:51 AM
first case is why people stay away from crypto
the main reason is that, people don't understand it first time, once they do , they realize it's worth it.
by the way the huge bumps in price of bitcoin is also a reason people go away from it, u wont want it to get half its value next day u wake up! i don't think so,
another case is why people stay away from btc and choose other coins..
main reason i saw in this case was confirmation time. people don't want to wait for hours to get there btc transaction confirmed, sometimes it takes a lot of time, while in other crypto (DOGE/LTC/ETH) they are very fast, so people stay in these coins.

i hope this answer was correct, it was just my point of view
legendary
Activity: 1554
Merit: 1054
some country are not accepting bitcoin and bitcoins are illegal in their country this is one of the sadest part where you can't earn bitcoins for free and also they can't mine because they goverment hates this currency what if their president using bitcoin and change everything into bitcoin currency probably people in their country who don't know what bitcoin will be the famous currency Cheesy
Well, in many countries where the bitcoins are not so popular or say banned, still people are using it.
Gambling is banned in India for example but 90% of Indians gamble, either professionally or friendly. So, that banned is just a lame excuse if anyone tells that as a reason for not using bitcoins.
full member
Activity: 154
Merit: 100
The bitcoin transaction confirmation is too slow at the moment. I would prefer the litecoin or Ethereum.
Lol i think it would not make the user be stopped using bitcoin. I think it is not a very big problem for users. Because the problem of the length of time confirmation can still be tolerated and you will not be disadvantaged because of it? I do not think anyone would stop using bticoin for that reason ? IMO
Yes thats just a small problem which happens only sometimes and if we always pay the recommended fee then that problem also not exist.
yes right this not a valid reason to stop using bitcoins.
full member
Activity: 224
Merit: 100
So after reading this article and especially the ending:

Quote
One thing is for certain: having made Bitcoin less of a security worry, transparency will now be key in attracting users to new models, placing control of funds and fees in an upfront way in their own hands.

I'm wondering what's stopping people from using bitcoin?

And now I'm talking about people who already aware of bitcoin and how it works but still not using it.

The price is now pretty much stable for more then a year, security issues are out of the question - so why we can't see in 2015 more companies switching to it, especially considering the unstable condition of moden economy?

Most of the pople don't care about the tech behind the bitcoin, they just want to hear the right stuff and also, the lack of ways to use bitcoin or exchange it to fiat (I couldn't find any exhange websites that doesn't take sky high fees so I'm stuck with selling btc here).

Well the lack of knowledge about the trend of the technology today especially in bitcoin is one that makes the people stops from using from bicoin.
But I don't think that is not going to be a tough reason for stopping the people from using bitcoin. I hope this is going to be fixed in the future.
yes it is also right but the uncertainty and fluctuation of bitcoin price is really effecting the price of bitcoin, like in current time the rate of down fall in just 2 or 3 days is too high, that compel people not to use bitcoin,  if the price of bitcoin become stable and there is no such a huge flexibality in the price of bitcoin then people will have full faith on bitcoin and they will certainly use in their daily life just like fiat currency.
hero member
Activity: 490
Merit: 500
The bitcoin transaction confirmation is too slow at the moment. I would prefer the litecoin or Ethereum.
Lol i think it would not make the user be stopped using bitcoin. I think it is not a very big problem for users. Because the problem of the length of time confirmation can still be tolerated and you will not be disadvantaged because of it? I do not think anyone would stop using bticoin for that reason ? IMO
hero member
Activity: 3024
Merit: 680
★Bitvest.io★ Play Plinko or Invest!
So after reading this article and especially the ending:

Quote
One thing is for certain: having made Bitcoin less of a security worry, transparency will now be key in attracting users to new models, placing control of funds and fees in an upfront way in their own hands.

I'm wondering what's stopping people from using bitcoin?

And now I'm talking about people who already aware of bitcoin and how it works but still not using it.

The price is now pretty much stable for more then a year, security issues are out of the question - so why we can't see in 2015 more companies switching to it, especially considering the unstable condition of moden economy?

Most of the pople don't care about the tech behind the bitcoin, they just want to hear the right stuff and also, the lack of ways to use bitcoin or exchange it to fiat (I couldn't find any exhange websites that doesn't take sky high fees so I'm stuck with selling btc here).

Well the lack of knowledge about the trend of the technology today especially in bitcoin is one that makes the people stops from using from bicoin.
But I don't think that is not going to be a tough reason for stopping the people from using bitcoin. I hope this is going to be fixed in the future.
hero member
Activity: 1022
Merit: 564
Need some spare btc for a new PC
So after reading this article and especially the ending:

Quote
One thing is for certain: having made Bitcoin less of a security worry, transparency will now be key in attracting users to new models, placing control of funds and fees in an upfront way in their own hands.

I'm wondering what's stopping people from using bitcoin?

And now I'm talking about people who already aware of bitcoin and how it works but still not using it.

The price is now pretty much stable for more then a year, security issues are out of the question - so why we can't see in 2015 more companies switching to it, especially considering the unstable condition of moden economy?

Most of the pople don't care about the tech behind the bitcoin, they just want to hear the right stuff and also, the lack of ways to use bitcoin or exchange it to fiat (I couldn't find any exhange websites that doesn't take sky high fees so I'm stuck with selling btc here).
sr. member
Activity: 364
Merit: 250
I think the main reason seems to be awareness. The masses are not aware of the true potential of bitcoin. Some reason they don't see it. And for now everyone wants the best way to conduct their financial transactions. bitcoin is the answer, and if someone has to get comfort then that person will not stop using bitcoin.
sr. member
Activity: 447
Merit: 250
The bitcoin transaction confirmation is too slow at the moment. I would prefer the litecoin or Ethereum.
well it definitely does not stop people from using it, and where would you spend those litecoins and eth? it is nearly nowhere accepted, i think that would be dumb
sr. member
Activity: 288
Merit: 250
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The bitcoin transaction confirmation is too slow at the moment. I would prefer the litecoin or Ethereum.
the transaction times are really great compared to the fiat in my opinion also litecoins and ethereum are not that popular so i wouldnt invest in it right now
hero member
Activity: 1148
Merit: 527
The bitcoin transaction confirmation is too slow at the moment. I would prefer the litecoin or Ethereum.

I don't think using bitcoin is hard, but I can see why some people find it difficult to understand and how bitcoin works exactly.
It's something they can't see and can't physically are able to hold and It just takes time for people to used to bitcoin really.
It's not about seeing bitcoin as easy or as hard to use, what Hamtard is saying is about the confirmation times.
I'm not exactly sure if you actually read his post or not.

More over, preferring litecoin or Ethereum for the reason of quicker confirmation does not belong to hating bitcoin category. You need not use what you love at the same time it does not mean you are loving those just because of you are using.
hero member
Activity: 518
Merit: 500
some country are not accepting bitcoin and bitcoins are illegal in their country this is one of the sadest part where you can't earn bitcoins for free and also they can't mine because they goverment hates this currency what if their president using bitcoin and change everything into bitcoin currency probably people in their country who don't know what bitcoin will be the famous currency Cheesy
we have to comply with existing regulations. each policy was made because of various considerations. a time when bitcoin recognized by a country and the president to use then bitcoin has grown wider. and at the same time the people will never stop using bitcoin.

I agree that we really have to comply with the regulation or else we will be (bitcoin) outcast.  Meaning using bitcoin will be recognized as illegal since we don't comply with anti money laundering law.  Government will look at it as blood money and will track down all transactions made.  Anyway, that was just exaggeration, but the mere fact that bitcoin in its early stage is used in illegal activity still has its effect why people is avoiding it.
Bitcoin being used for illegal activities is just a one of the reasons why people are a bit apprehensive with it. But I think the main reason that there are not a lot of people using bitcoin is the unawareness of the technology. We have seen countries that are still lagging when it comes to connectivity that serves as a hindrance for people to even have access of bitcoin and its benefits.
hero member
Activity: 714
Merit: 531
I think the price volatility, lots of incidents related to black market activities and many other anti-government activities are the major cause that's stopping people from using bitcoins.

I don't think BTC price volatility is the primary cause for not using it. But based on my knowledge as of now bitcoins are not accepted by many governments because they can't track the transactions and can't put taxes on to it so many businesses are not taking it as a payment method. Currently, bitcoins are used mostly in online gambling and for some limited online activities.
The price volatility of bitcoin is a concern for the merchants to accept bitcoin payments. When they are accepting bitcoin payments and if the price of bitcoin get lowered then they might incur losses. Also, the pending approvals from the government is a big concern for many people, and they are still waiting for any view from their government to start using bitcoins.
You are talking about only losses, but if you are accepting bitcoin payments then we are also having chances to multiply your money when bitcoin prices go up. If you are not ready to take this little risk then you should not adopt bitcoin payments. But, I agree price volatility might be a main concern for many people and still stopping them from using bitcoin.
The fear of price volatility must be the lack of knowledge about bitcoin ecosystem. If you are having all the knowledge about the advantages of bitcoin price volatility, then you will never find it as a concern to start using bitcoins. Because, bitcoin has the unique feature of being used as money as well as investment opportunity. An investment always has some risks.
Overall, I have seen only due to the lack of awareness about bitcoin system, many people are finding themselves feared and not using it yet. They fear for legal issues, price volatility, complex in handling while sending and receiving payments etc. But all the above problems are quickly will be solved when you are having enough knowledge about those things.

Definitely right. I am one of those scaredy cats when it comes to investments. I always think that it will be another scam. That negative feeds are lost when I knew how it all works. Yes it is different from other invesment and some people also are afraid of something new.
Agreed with you mate if there is something new investment site we are now afraid to invest again specially to those users who have bad experience that they got scam that is why they stop investing their bitcoin but they do not stop using bitcoin.
legendary
Activity: 3346
Merit: 1134
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I think the price volatility, lots of incidents related to black market activities and many other anti-government activities are the major cause that's stopping people from using bitcoins.

I don't think BTC price volatility is the primary cause for not using it. But based on my knowledge as of now bitcoins are not accepted by many governments because they can't track the transactions and can't put taxes on to it so many businesses are not taking it as a payment method. Currently, bitcoins are used mostly in online gambling and for some limited online activities.
The price volatility of bitcoin is a concern for the merchants to accept bitcoin payments. When they are accepting bitcoin payments and if the price of bitcoin get lowered then they might incur losses. Also, the pending approvals from the government is a big concern for many people, and they are still waiting for any view from their government to start using bitcoins.
You are talking about only losses, but if you are accepting bitcoin payments then we are also having chances to multiply your money when bitcoin prices go up. If you are not ready to take this little risk then you should not adopt bitcoin payments. But, I agree price volatility might be a main concern for many people and still stopping them from using bitcoin.
The fear of price volatility must be the lack of knowledge about bitcoin ecosystem. If you are having all the knowledge about the advantages of bitcoin price volatility, then you will never find it as a concern to start using bitcoins. Because, bitcoin has the unique feature of being used as money as well as investment opportunity. An investment always has some risks.
Overall, I have seen only due to the lack of awareness about bitcoin system, many people are finding themselves feared and not using it yet. They fear for legal issues, price volatility, complex in handling while sending and receiving payments etc. But all the above problems are quickly will be solved when you are having enough knowledge about those things.

Definitely right. I am one of those scaredy cats when it comes to investments. I always think that it will be another scam. That negative feeds are lost when I knew how it all works. Yes it is different from other invesment and some people also are afraid of something new.
legendary
Activity: 1330
Merit: 1019
I think the price volatility, lots of incidents related to black market activities and many other anti-government activities are the major cause that's stopping people from using bitcoins.

I don't think BTC price volatility is the primary cause for not using it. But based on my knowledge as of now bitcoins are not accepted by many governments because they can't track the transactions and can't put taxes on to it so many businesses are not taking it as a payment method. Currently, bitcoins are used mostly in online gambling and for some limited online activities.
The price volatility of bitcoin is a concern for the merchants to accept bitcoin payments. When they are accepting bitcoin payments and if the price of bitcoin get lowered then they might incur losses. Also, the pending approvals from the government is a big concern for many people, and they are still waiting for any view from their government to start using bitcoins.
You are talking about only losses, but if you are accepting bitcoin payments then we are also having chances to multiply your money when bitcoin prices go up. If you are not ready to take this little risk then you should not adopt bitcoin payments. But, I agree price volatility might be a main concern for many people and still stopping them from using bitcoin.
The fear of price volatility must be the lack of knowledge about bitcoin ecosystem. If you are having all the knowledge about the advantages of bitcoin price volatility, then you will never find it as a concern to start using bitcoins. Because, bitcoin has the unique feature of being used as money as well as investment opportunity. An investment always has some risks.
Overall, I have seen only due to the lack of awareness about bitcoin system, many people are finding themselves feared and not using it yet. They fear for legal issues, price volatility, complex in handling while sending and receiving payments etc. But all the above problems are quickly will be solved when you are having enough knowledge about those things.
legendary
Activity: 3052
Merit: 1281
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some country are not accepting bitcoin and bitcoins are illegal in their country this is one of the sadest part where you can't earn bitcoins for free and also they can't mine because they goverment hates this currency what if their president using bitcoin and change everything into bitcoin currency probably people in their country who don't know what bitcoin will be the famous currency Cheesy
we have to comply with existing regulations. each policy was made because of various considerations. a time when bitcoin recognized by a country and the president to use then bitcoin has grown wider. and at the same time the people will never stop using bitcoin.

I agree that we really have to comply with the regulation or else we will be (bitcoin) outcast.  Meaning using bitcoin will be recognized as illegal since we don't comply with anti money laundering law.  Government will look at it as blood money and will track down all transactions made.  Anyway, that was just exaggeration, but the mere fact that bitcoin in its early stage is used in illegal activity still has its effect why people is avoiding it.
legendary
Activity: 2058
Merit: 1030
I'm looking for free spin.
so many reason, for example: they got bored , they think they dont need bitcoin anymore, they think that bitcoin dont have bright future (i believe bitcoin have bright future)
I think the main reason is they are not trusting bitcoin they are just thinking that bitcoin is scam.. this is what i think when i was newbie about bitcoin.. if i never seen this forum before maybe i dont continue to collect bitcoin in faucet.. instead looking forward to another way to have few earnings online..

Exactly, there are a lot of newbies or there were a lot of newbies who left using bitcoin when they were scammed by someone and lost their bitcoins and after that they stopped using bitcoin by thinking that there is nothing in bitcoin but scam, only some people keep using it and learn new things about it and then get experience about the scams or other things.
Yeah they are attracted from ponzi or hyip they will invest after that they will experience of scam.. this is one of the reason why people are stop using bitcoin because of this.. they didnt know that ponzi is already scam and better to stay away those ponzi site.. in real life there is no free money ir investment the same as ponzi so they are fake..
Newbies can easily attract in ponzi after scam they will stop..
hero member
Activity: 756
Merit: 500
so many reason, for example: they got bored , they think they dont need bitcoin anymore, they think that bitcoin dont have bright future (i believe bitcoin have bright future)
I think the main reason is they are not trusting bitcoin they are just thinking that bitcoin is scam.. this is what i think when i was newbie about bitcoin.. if i never seen this forum before maybe i dont continue to collect bitcoin in faucet.. instead looking forward to another way to have few earnings online..

Exactly, there are a lot of newbies or there were a lot of newbies who left using bitcoin when they were scammed by someone and lost their bitcoins and after that they stopped using bitcoin by thinking that there is nothing in bitcoin but scam, only some people keep using it and learn new things about it and then get experience about the scams or other things.
legendary
Activity: 2058
Merit: 1030
I'm looking for free spin.
so many reason, for example: they got bored , they think they dont need bitcoin anymore, they think that bitcoin dont have bright future (i believe bitcoin have bright future)
I think the main reason is they are not trusting bitcoin they are just thinking that bitcoin is scam.. this is what i think when i was newbie about bitcoin.. if i never seen this forum before maybe i dont continue to collect bitcoin in faucet.. instead looking forward to another way to have few earnings online..
legendary
Activity: 1372
Merit: 1005
The bitcoin transaction confirmation is too slow at the moment. I would prefer the litecoin or Ethereum.

I don't think using bitcoin is hard, but I can see why some people find it difficult to understand and how bitcoin works exactly.
It's something they can't see and can't physically are able to hold and It just takes time for people to used to bitcoin really.
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