Topic: What's stopping people from using bitcoin? - page 157. (Read 202161 times)

For me, that's the best answer.

Somebody says that bitcoin is not popular because only a few shops accept btc. But that's the vicious circle and we should ask question why there are so few of them. I wanted to establish my own business connected with btc. I had (in my opinion good) plan, some money - not very much is necessary. The only thing that scared me off was the very complicated law connected with bitcoin, the fear of becoming illegal (even unintentionally). I think many enterpreneurs as well as huge companies would also use btc instead of fiat. And they would do it with pleasure - it's convenient. But they don't even think of it, they are having so much restrictions on taxes, they must prove their expenses with VAT invoices (thats not so easy when dealing with btc), do other bureaucratic stuff...

Easy law, friendly for enterpreneurs/shops/people dealing with money + removal of absurd income taxes = more shops/people accepting BTC = more users = more stable quotes

The more users the BTC network has, the more stable the quotes will be. That's normal, having few milion users, some of them with 0,1% or even 1% (!) of the whole network, there won't be better stabilisation than it is now - i think it would now take only a few users with altogether 1-2% network shares (50-100 mln $) to strongly destabilise the network for a couple of weeks/months. It won't be a problem when btc will be used by more people and any bigger value deviation will be regulated by free market quickly.

The second thing is the fear, but it is also connected with everything above. For me the capitalisation of the network, about 5 000 000 000 usd, is the sufficient guarantee for it being somewhat safe, but

more users = wider belief in networks safety = more users = more stable quotes = less fear = ...

Do you agree with me?

There is many problems of bitcoin that scare people away. But the biggest atm is lack lack of direct trading. In other words to be fully capable of using bitcoin you don't have bitcoin alone,
you have to register on an exchanges and other services and buy it for fiat. Also normal services and retailers rarely accept direct bitcoin payments.

Thats what wee need, more info for people that didn't know anything about bitcoins, reviews in normal newspapers, articles in magazins and the cover with a bitcoin and blockchain of last number of of "The Economist". If not bitcoin can't be a global payment system.

That is another piece of good news for bitcoin. Ordinary people are aware of bitcoin day by day. I hope there will be more adoption as well.

Yesterday I saw a article about bitcoin in local Hindi Newspaper.This is the first time I see anything related to bitcoin in Hindi Newspaper.No need to say many of the readers would be hearing about bitcoin for the first time. I think its a positive sign and will definitely encourage more people to use bitcoin.

Very nice and very positive. Yes that uniqueness could rise the demand of bitcoins. Just thinking about it I got a few ideas in my imagination now.

In Singapore, we do not need to do so and honestly, the process is swift. I can't speak for all the countries though. Many of them requires verification but they mostly only need a government issued ID or driver license and it takes ~30minutes-1hour to verify. Enough time for you to buy and drink a beer.

It's a one time thing too.

Well good at least that you have one near you
I understand the point but at least they a camera there.
So if they want to check something they have the "real ID" in front of them in 3D

When people didn't interesting with bitcoin anymore 

I can only speak for the ATM @ Toronto, and that didn't require any ID verification.

My guess is that most of them exchange without ID-Check.

The security is never 100% because every day hackers hack something somewhere.
Well i have seen bitcoin ATM only in youtube and never in my country.
Do they require identity verification like most of online exchages.

For my country, the exchange only require the back and front of my identity card. It differs from country to country though. If you use an ATM, the process will be much more straightforward and fast. Identity theft is a problem hence, the exchanges need to build trust or have a exchange with excellent security.

The problem is not paying but accepting it,Think of it like you are getting paid in bitcoins and at the beginning of the month the price was around 500 $ and increasing but a couple of days prior to your paycheck suddenly out of some unknown reason the price goes down to 340 ~ ,can you accept that ?
It's highly variable and no one is likely to accept it as their pay.

i can see the subject of this thread is a question about what is stopping people from using bitcoin ...
my answer is NOTHING at all ,but the whole thread arises a question in my mind at same time :

why someone may use a diferent curency for ?
i recall in my country Greece around 80's when someone had a medical problem or urgent need to spend money abroad ,
there was a need to find US$ or some other hard currency instead of Drachmas ,so even black-market was alive for that NEED

conclusion > the real question is : what kind of goods,services or whatever we NEED and if something of all that is offered
for bitcoins then its positive to say : " I NEED TO BUY BITCOINS "

offering unique goods or services only for bitcoins can be the way to make Bitcoin better.

The only thing that can stop people to use Bitcoin is when Bitcoin is officially blocked by the government
Like Russia that proposed a jail sentence for people who using Bitcoin
But then again, people will always trade their bitcoins on the underground network like TORs whether Bitcoin is banned or not

True lack of trust stops people from using bitcoin.
There are tons of news about hacks, illegal usage of bitcoin so it affects people.

Yes, but nobody will start doing such a huge step as paying wages in bitcoins until Bitcoin doesn't earn much more trust and it doesn't get adopted much more by the people all over the world.

So this is actually quite dependable process. We need to tackle first successful buying in order to grow our adoption so that one day people start paying or just giving an option to pay wages in bitcoins.

Maybe they want to use bitcoin but to get/earn it is hard.
For example buying in exchange they require lots of personal information and lots of verifications.
And i think that they are a bit afraid to submit government documents through these websites.

But you forgot the third reason, people who know it, but have a hard time acquiring it... "why exchange bitcoin, when I can pay with paypal"

actually it's pretty simple if you think about it, they need to buy it first, they cannot acquire it directly, if wages had been payed directly in bitcoin, i'm sure right now adoption would have been in course already

right now people need to do a logest way to use bitcoin instead of fiat, because of one more step, buying bitcoin...