What's stopping people from using bitcoin? - page 159.

Hellacopter

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Quote from: danherbias07 on October 24, 2015, 10:54:05 PM

i think it is because some are afraid of the new things to learn. You will need to understand it. More to learn. Some just want to live on what they have. And dont want anymore to learn what is this and what is that.

That's true in my opinion. There is many people don't even know what means Bitcoin's currency till now. we have to continue our mission in advertising bitcoin everywhere , because i think bitcoin in the near future will become the first used currency

StarofBTC

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Quote from: JforJoker on October 16, 2015, 08:09:54 AM

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?

i dont think people stop using bitcoin .Moreover if we see the stats it had increase a lot.There are very few who had stopped using bitcoin because they dont feel safe due to brainwallet massacre that happened late in november december previous year

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Quote from: danherbias07 on October 27, 2015, 08:23:16 AM

Quote from: Amph on October 27, 2015, 06:12:20 AM

Quote from: RKing on October 27, 2015, 05:11:12 AM

Quote from: danherbias07 on October 24, 2015, 10:54:05 PM

i think it is because some are afraid of the new things to learn. You will need to understand it. More to learn. Some just want to live on what they have. And dont want anymore to learn what is this and what is that.

This is one of the reasons. For the time being, you need a bitcoin wallet and that need computer access. This is not suitable for most over 50s.

theyy actually think that they might lose those money if they keep them in their desktop in a questionable client

it's all about security really, nothing else, security it's primary nowaday, with all the hacking and thief

Well bitcoin is more secured than other online money that needed some information about yourself. Here you just need your bitcoin address and you cant be traced.

It is probably one of the factor that people don't use it. It can't be guaranteed by any entity and would create an impression that it is risky to use it. I can't find any corelation between security any anonymity though.

danherbias07

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Quote from: Amph on October 27, 2015, 06:12:20 AM

Quote from: RKing on October 27, 2015, 05:11:12 AM

Quote from: danherbias07 on October 24, 2015, 10:54:05 PM

i think it is because some are afraid of the new things to learn. You will need to understand it. More to learn. Some just want to live on what they have. And dont want anymore to learn what is this and what is that.

This is one of the reasons. For the time being, you need a bitcoin wallet and that need computer access. This is not suitable for most over 50s.

theyy actually think that they might lose those money if they keep them in their desktop in a questionable client

it's all about security really, nothing else, security it's primary nowaday, with all the hacking and thief

Well bitcoin is more secured than other online money that needed some information about yourself. Here you just need your bitcoin address and you cant be traced.

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Quote from: Amph on October 27, 2015, 06:12:20 AM

Quote from: RKing on October 27, 2015, 05:11:12 AM

Quote from: danherbias07 on October 24, 2015, 10:54:05 PM

i think it is because some are afraid of the new things to learn. You will need to understand it. More to learn. Some just want to live on what they have. And dont want anymore to learn what is this and what is that.

This is one of the reasons. For the time being, you need a bitcoin wallet and that need computer access. This is not suitable for most over 50s.

theyy actually think that they might lose those money if they keep them in their desktop in a questionable client

it's all about security really, nothing else, security it's primary nowaday, with all the hacking and thief

People are creatures of habits. We change our habits very hard. Especially our habits about money which I would say we change twice as hard as the other habits. So this is part of the reason.

Other part is that believe it or not, Bitcoin is still quite hard to use, especially to obtain and secure. I am not talking about scanning a QR code, anybody can do this and hit send button.

Amph

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Quote from: RKing on October 27, 2015, 05:11:12 AM

Quote from: danherbias07 on October 24, 2015, 10:54:05 PM

i think it is because some are afraid of the new things to learn. You will need to understand it. More to learn. Some just want to live on what they have. And dont want anymore to learn what is this and what is that.

This is one of the reasons. For the time being, you need a bitcoin wallet and that need computer access. This is not suitable for most over 50s.

they actually think that they might lose those money if they keep them in their desktop in a questionable client

it's all about security really, nothing else, security it's primary nowaday, with all the hacking and thief

ranochigo

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Quote from: Wapinter on October 24, 2015, 04:03:43 PM

Bitcoin is vulnerable and perishable.One can lose it during transaction,wallet hack or theft and it is not recoverable.I think that is also one of the main reasons stopping people from using bitcoin.When it comes to money,safety takes the priority

You can also lose fiat if you drop it, no way of refunding it back. Having to lose your wallet from theft should not be a major turn off. You can take security precautions against such attack. Frankly speaking, it would be hard to get virus on your computer if you do not download programs randomly. (Excluding physical access).

Quote from: RKing on October 27, 2015, 05:11:12 AM

Quote from: danherbias07 on October 24, 2015, 10:54:05 PM

i think it is because some are afraid of the new things to learn. You will need to understand it. More to learn. Some just want to live on what they have. And dont want anymore to learn what is this and what is that.

This is one of the reasons. For the time being, you need a bitcoin wallet and that need computer access. This is not suitable for most over 50s.

Says who? Most over 50s have a working computer and little to no skills is required to use Bitcoin. In fact, I have seen people in their 60s-70s using smartphones.

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Quote from: danherbias07 on October 24, 2015, 10:54:05 PM

i think it is because some are afraid of the new things to learn. You will need to understand it. More to learn. Some just want to live on what they have. And dont want anymore to learn what is this and what is that.

This is one of the reasons. For the time being, you need a bitcoin wallet and that need computer access. This is not suitable for most over 50s.

danherbias07

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i think it is because some are afraid of the new things to learn. You will need to understand it. More to learn. Some just want to live on what they have. And dont want anymore to learn what is this and what is that.

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Quote from: Wapinter on October 24, 2015, 04:03:43 PM

Bitcoin is vulnerable and perishable.One can lose it during transaction,wallet hack or theft and it is not recoverable.I think that is also one of the main reasons stopping people from using bitcoin.When it comes to money,safety takes the priority

For personal uses, I think bitcoin is secure enough. The only time it becomes insecure is when you entrust it in a third-party service to hold it for you. Also, I think the governments isn't that too tight on their people in using bitcoin. There are regulations, yes, but it is not like NY in all of the world.

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I think the fear of being ripped off AND the fear of what actions the worlds governments might take against those who are holding bitcoin. The state of the technology is very precarious and to many the risk outweighs the possible rewards.

Wapinter

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Bitcoin is vulnerable and perishable.One can lose it during transaction,wallet hack or theft and it is not recoverable.I think that is also one of the main reasons stopping people from using bitcoin.When it comes to money,safety takes the priority

Hellacopter

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Quote from: ashour on October 20, 2015, 07:41:58 AM

It is really difficult to obtain bitcoin nowadays. Most exchanges require you to have a verified account with and ID copy, mobile verification, bank verification etc etc. Most people just think that its too much hassle to just obtain 0.1 btc with all this verification process.

There is some famous ewallets started already using Bitcoin as deposit and withdraw method
I remember Payza nowadays, for example, support bitcoin for deposit and withdraw, i think it's good to help bitcoin users exchange their bitcoin for fiat easily

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Quote from: ranochigo on October 20, 2015, 08:19:07 AM

Bitcoin is far too hard for an average joe to buy....

If the banks stopped closing people's accounts for sending bank transfers to exchanges it would take some of the fear out of using Bitcoin. An Australian watchdog has started investigating all the account closures, and is asking the banks to explain why they closed so many accounts because they appear to be breaking anti-competition laws.

It will put a noob off Bitcoin if he starts using it and has his bank account closed without any explanation for a bank transfer to an exchange. They are closing Bitcoin business accounts, and Bitcoin users accounts because they are frightened of the competition.

ranochigo

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Bitcoin is far too hard for an average joe to buy, it is open to market manipulation and the adoption rate is too small. An average joe interested about Bitcoin would either want to use an ATM without ID or prefer not to send out ID on internet. It is a valid concern as it would introduce the danger of identity theft. As seen in the Mt Gox saga, exchanges can potentially plant a bot to try to manipulate the price. The adoption rate is still relatively small, due to regulations and the bad reputation Bitcoin is getting. With so many theft incident happening, people wouldn't trust Bitcoin to be any safer than fiat.

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Bad publicity on Tv was one of the problems on bitcoin, people only saw bad news about bitcoin on Tv. Ponzis, drug news, ... Its difficult to explain to a friend that bitcoin is a secure payment system if they saw only these news.

ashour

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It is really difficult to obtain bitcoin nowadays. Most exchanges require you to have a verified account with and ID copy, mobile verification, bank verification etc etc. Most people just think that its too much hassle to just obtain 0.1 btc with all this verification process.

Amph

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Quote from: Kevin77 on October 19, 2015, 09:37:06 PM

Quote from: Cereberus on October 19, 2015, 02:09:47 PM

Quote from: busybee7 on October 19, 2015, 01:27:16 PM

i think its price flctuations that do it

This is the major reason I would think as well.
That and the barrier of not understanding what to do with it. But that is changing now with so much education information available in all forms of media.

Price fluctuations is the major reason why many people do not want to hold for long term which leads to immediate conversion into fiat resulting affecting business in bitcoins. Price fluctuation is the biggest strong point of bitcoin but in down trend it has turned as a problem.

price fluctuation is there because there are few people using it, so it's actually their fault(those that need an incentive to join, i mean...)that make the price fluctuate more

eternalgloom

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I would say that a large number of people are looking at Bitcoin as an investment rather than a currency.
Not everyone though, I for example spend quite a bit of Bitcoin every month because it's easier for me to get than Paypal funds.

bearex

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The price going up and down and the not-widespreadness. Where will they be able to spend it, there are not so many physical stores that accept Bitcoin.

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