Topic: What's stopping people from using bitcoin? - page 161. (Read 202161 times)
I think a big thing that's stopping people from giving Bitcoin a shot is the public's perception of the community that backs it. The average joe either doesn't know what Bitcoin is, or sees it as internet money used to buy drugs and weapons. The rest of the internet sees Bitcoiners as a cult and generally regarded as the laughing stock of the internet.
The problem with finding reputable bitcoin sites is that there are more non-reputable sites than reputable ones. If I use a bank card, I wouldn't even have to worry about it. For example: If I ordered some t-shirts from a website with bitcoin but never received the t-shirts I purchased, I have no way of getting my money back; however, if I use my credit card, or debit card, to purchase the t-shirts, all I have to do is file a complaint with my bank and my money is returned to me. And, I don't have to do any kind of deep web research to figure out how reputable the vendors are when I use my bank card.
What is the cost for that? No monetary sovereignty. Yeah, I'd rather stick to Bitcoin and use common sense. I've been around for 3 years and was never scammed by anyone or any merchant. Also, you do not order from random websites using your CC. That would be a very stupid move. I was directing my responses to the context of the thread question: "What's stopping people from using bitcoin?" I agree with you that there's a lot of digital goods and services that can be purchased with bitcoin; however, if it's going to be more widely adopted, it will have to address the points I enumerated above.
Understood.Exactly, bitcoin isn't being adopted by more consumers because it's not the scammers getting scammed, as they recognize a good scam when they see it; it's the honest folk getting scammed because they have a trustworthy mindset. My point is, as long as bitcoin is viewed as a blackmarket tool by the general public, and as long as it attracts the type of people whom naturally think in terms of scams, bitcoin will be shunned by the average honest wage earner. I mean, if my mother asked me if she should invest in or use bitcoin, I would say, "Hell no," unless she had some secret thing she wanted to do with her money. Why should she use bitcoin, when she could use her card and be protected by a federally insured dollar?
I love bitcoin and I have made some risky investments....but, I knew they were risky and could afford the risk. I can recognize scams, avoid keyloggers, understand escrow, and know how to recognize those things....the average joe doesn't. For bitcoins adoption rate to increase, it needs to be safer and easier to understand by the general public. Otherwise, its use will be populated by a less attractive group of people whom understand scams and how to profit off of them.
i believe that a lot of people are afraid of massive fluctuations that happen to bitcoin price and that its price might drop in the future
I think the barrier to entry is too high.
When we look at something like Facebook, the barrier to entry as to create an account by verifying through email - that was pretty much it.
That being said we are dealing with money, probably the touchiest subject around in the world. People don't like wasting money so that precludes anyone from getting involved, because who wants to waste even 1 dollar and time?If joining FB cost one dollar probably a free version would have come along and smashed them soon enough.
That being said, the barrier for entry for merchants is fairly low. Either use a Bitcoin wallet (has its problems) or use a service provider like Bitpay. Save bucks in the process. Not too bad.
So accepting Bitcoin is not a big problem. Finding people who have Bitcoin and who are willing to spend it is a problem.
I am busy working on a partial solution to it - using an app to introduce people to Bitcoin simply and with fairly low risk - hopefully it will be out by Xmas - and I will post it here as we drive it forward.
i totally agree, when i heard about bitcoin almost a year ago i thought it was cool but i coudnt get into it because to buy some bitcoin it was a heavy process. When we look at something like Facebook, the barrier to entry as to create an account by verifying through email - that was pretty much it.
That being said we are dealing with money, probably the touchiest subject around in the world. People don't like wasting money so that precludes anyone from getting involved, because who wants to waste even 1 dollar and time?If joining FB cost one dollar probably a free version would have come along and smashed them soon enough.
That being said, the barrier for entry for merchants is fairly low. Either use a Bitcoin wallet (has its problems) or use a service provider like Bitpay. Save bucks in the process. Not too bad.
So accepting Bitcoin is not a big problem. Finding people who have Bitcoin and who are willing to spend it is a problem.
I am busy working on a partial solution to it - using an app to introduce people to Bitcoin simply and with fairly low risk - hopefully it will be out by Xmas - and I will post it here as we drive it forward.
I am busy working on a partial solution to it - using an app to introduce people to Bitcoin simply and with fairly low risk - hopefully it will be out by Xmas - and I will post it here as we drive it forward.
Do you mind sharing a bit more about this application? This sound interesting!
What do you guys have I mind? Giving low amounts away for free or just for running an application maybe?
I think the barrier to entry is too high.
When we look at something like Facebook, the barrier to entry as to create an account by verifying through email - that was pretty much it.
That being said we are dealing with money, probably the touchiest subject around in the world. People don't like wasting money so that precludes anyone from getting involved, because who wants to waste even 1 dollar and time?If joining FB cost one dollar probably a free version would have come along and smashed them soon enough.
That being said, the barrier for entry for merchants is fairly low. Either use a Bitcoin wallet (has its problems) or use a service provider like Bitpay. Save bucks in the process. Not too bad.
So accepting Bitcoin is not a big problem. Finding people who have Bitcoin and who are willing to spend it is a problem.
I am busy working on a partial solution to it - using an app to introduce people to Bitcoin simply and with fairly low risk - hopefully it will be out by Xmas - and I will post it here as we drive it forward.
When we look at something like Facebook, the barrier to entry as to create an account by verifying through email - that was pretty much it.
That being said we are dealing with money, probably the touchiest subject around in the world. People don't like wasting money so that precludes anyone from getting involved, because who wants to waste even 1 dollar and time?If joining FB cost one dollar probably a free version would have come along and smashed them soon enough.
That being said, the barrier for entry for merchants is fairly low. Either use a Bitcoin wallet (has its problems) or use a service provider like Bitpay. Save bucks in the process. Not too bad.
So accepting Bitcoin is not a big problem. Finding people who have Bitcoin and who are willing to spend it is a problem.
I am busy working on a partial solution to it - using an app to introduce people to Bitcoin simply and with fairly low risk - hopefully it will be out by Xmas - and I will post it here as we drive it forward.
Personal opinion: overwhelming technical terms and people who make bitcoin look hard to use by spitting out deep words technical to bitcoin. Seriously, people can go by without knowing how to mine or the algorithm behind it; simple knowledge about receiving/sending coins is enough to get you on the go. The problem is even bitcoiners find it hard to explain how it works in simple words. 
The problem with finding reputable bitcoin sites is that there are more non-reputable sites than reputable ones. If I use a bank card, I wouldn't even have to worry about it. For example: If I ordered some t-shirts from a website with bitcoin but never received the t-shirts I purchased, I have no way of getting my money back; however, if I use my credit card, or debit card, to purchase the t-shirts, all I have to do is file a complaint with my bank and my money is returned to me. And, I don't have to do any kind of deep web research to figure out how reputable the vendors are when I use my bank card.
What is the cost for that? No monetary sovereignty. Yeah, I'd rather stick to Bitcoin and use common sense. I've been around for 3 years and was never scammed by anyone or any merchant. Also, you do not order from random websites using your CC. That would be a very stupid move. I was directing my responses to the context of the thread question: "What's stopping people from using bitcoin?" I agree with you that there's a lot of digital goods and services that can be purchased with bitcoin; however, if it's going to be more widely adopted, it will have to address the points I enumerated above.
Understood. Of You only buy grom reputable sellers or webshops, the chance of getting scammed is very low.
It is just a matter of common sense, not whether You use a credit card or bitcoin.
It is just a matter of common sense, not whether You use a credit card or bitcoin.
The problem with finding reputable bitcoin sites is that there are more non-reputable sites than reputable ones. If I use a bank card, I wouldn't even have to worry about it. For example: If I ordered some t-shirts from a website with bitcoin but never received the t-shirts I purchased, I have no way of getting my money back; however, if I use my credit card, or debit card, to purchase the t-shirts, all I have to do is file a complaint with my bank and my money is returned to me. And, I don't have to do any kind of deep web research to figure out how reputable the vendors are when I use my bank card.
Of You only buy grom reputable sellers or webshops, the chance of getting scammed is very low.
It is just a matter of common sense, not whether You use a credit card or bitcoin.
It is just a matter of common sense, not whether You use a credit card or bitcoin.
1) Can't buy the things most needed: rent, electricity, gasoline, medical insurance, food.....etc
2) Online purchases with bitcoin are risky, regardless of confirmation time, because there's no way to insure
that you'd receive the goods purchased.
3) Just one of many scams found right here on this site: https://bitcointalksearch.org/topic/ann-mercurial-mci-linking-crypto-currencies-1158117
4) It's way more volatile than USD!
5) It's hard to get because people don't use it enough: one doesn't purchase USD from the bank, they acquire
it by exchanging goods and services....right? If bitcoin were more legit, it'd be exchanged P2P more often.
I'm not a bitcoin hater....I love it actually....it just needs help.
1) Invalid. Buying goods != paying for utilities/services (exception of food).2) Online purchases with bitcoin are risky, regardless of confirmation time, because there's no way to insure
that you'd receive the goods purchased.
3) Just one of many scams found right here on this site: https://bitcointalksearch.org/topic/ann-mercurial-mci-linking-crypto-currencies-1158117
4) It's way more volatile than USD!
5) It's hard to get because people don't use it enough: one doesn't purchase USD from the bank, they acquire
it by exchanging goods and services....right? If bitcoin were more legit, it'd be exchanged P2P more often.
I'm not a bitcoin hater....I love it actually....it just needs help.
2) Nonsense. If you get scammed then it is on you. If you buy from Newegg you are definitely going to get scammed.
3) Be smart and ignore the altcoin section.
4) Who cares? I don't.
5) You can acquire Bitcoin the same way if you have the right goods and/or skills required (services section anyone?).
I was directing my responses to the context of the thread question: "What's stopping people from using bitcoin?" I agree with you that there's a lot of digital goods and services that can be purchased with bitcoin; however, if it's going to be more widely adopted, it will have to address the points I enumerated above. It's easy to say "if you gets scammed it's your fault," but it's easier for most to say, "I'd rather use a credit card then take the chance of getting scammed."
Based on my experience, here are the reasons :
1. It's difficult to find any stores which accept bitcoin
2. It's annoying to wait for a confirmation or more, especially you are in hurry
3. There are many scam bitcoin website & newbie don't know it
4. Bitcoin's volatility is too high
5. Buy/sell bitcoin is too difficult & expensive (many fees)
1) Online? No. You can buy pretty much anything that you want with Bitcoin today.1. It's difficult to find any stores which accept bitcoin
2. It's annoying to wait for a confirmation or more, especially you are in hurry
3. There are many scam bitcoin website & newbie don't know it
4. Bitcoin's volatility is too high
5. Buy/sell bitcoin is too difficult & expensive (many fees)
2) I don't see a situation in which you could not wait 10 minutes but had to acquire the goods that you want online?
3) Partially agree
4) No.
5) Expensive not really but I do agree with this point and I wanted to write about it at the moment.
Acquiring Bitcoin needs to be much more easier than it is today. If it was possible to acquire Bitcoin within a few hours that would probably make adoption spike. At the moment it requires you to scan a lot of documents and then wait until they (hopefully) approve you. Also more ATM(s) that do not require any verification are needed.
1) Can't buy the things most needed: rent, electricity, gasoline, medical insurance, food.....etc
2) Online purchases with bitcoin are risky, regardless of confirmation time, because there's no way to insure
that you'd receive the goods purchased.
3) Just one of many scams found right here on this site: https://bitcointalksearch.org/topic/ann-mercurial-mci-linking-crypto-currencies-1158117
4) It's way more volatile than USD!
5) It's hard to get because people don't use it enough: one doesn't purchase USD from the bank, they acquire
it by exchanging goods and services....right? If bitcoin were more legit, it'd be exchanged P2P more often.
I'm not a bitcoin hater....I love it actually....it just needs help.
2) Use a middleman such as an escrow or buy from a reputable site. Reputable sites would allow users to file a complain.
3) Thats in the altcoin section. Completely different from Bitcoin itself. Furthermore, aren't there online scams on fiats?
4) It is not backed by anything, hence it is natural to be volatile.
5) You can always do that. Bitcoin is definitely more legit than fiat, they have a limited market cap.
bit coin its digital money not 50% of us people are all digital and do the local communities also the work comes into fiat and the BTC its not for all governements dont acept it much.
You're asking a very complex question. This question can not be answered with a reason or two. There are many factors in play. Maybe Bitcoin is still too complex for some people. Besides, the majority are ignorant and closed-minded (change is hard to accept).
Internet is still very complex and multilayered tool. Yet we have no problem with using it on the basic level without any help.Same is with bitcoin, deep technical analysis and understanding of bitcoin shouldn't be needed to fully use bitcoin.
We need simplify things, create killer apps with easy to understand design, then masses will flock.
-snip-
1) Invalid. Buying goods != paying for utilities/services (exception of food).2) Nonsense. If you get scammed then it is on you. If you buy from Newegg you are definitely going to get scammed.
3) Be smart and ignore the altcoin section.
4) Who cares? I don't.
5) You can acquire Bitcoin the same way if you have the right goods and/or skills required (services section anyone?).
1. There are barely any stores which accept bitcoin in my country, i always spend my bitcoin on online shop
2. It happened to me once, i wanted to buy cheap games on steam flash sale, but i'm out of balance & the sale is almost end, so i have to buy steam wallet & wait for a confirmation which took 30 minutes. I got the games few minutes before the sale end.
3. -
4. No? These days bitcoin volatility isn't too high, just around 1% to 2%, but in past bitcoin volatility was very high, about 4% to 10% & there were barely anyone spend their bitcoin because bitcoin volatility was too high
5. Not too expensive, but there are many fees. From fee for deposit your fiat, trading fee & withdraw fee.
1. I was talking about online stores (there are not enough local ones, I agree).2. It happened to me once, i wanted to buy cheap games on steam flash sale, but i'm out of balance & the sale is almost end, so i have to buy steam wallet & wait for a confirmation which took 30 minutes. I got the games few minutes before the sale end.
3. -
4. No? These days bitcoin volatility isn't too high, just around 1% to 2%, but in past bitcoin volatility was very high, about 4% to 10% & there were barely anyone spend their bitcoin because bitcoin volatility was too high
5. Not too expensive, but there are many fees. From fee for deposit your fiat, trading fee & withdraw fee.
2. That's on you.
4. It's been around $230 this whole year, pretty stable compared to how it was before.
5. Yes. This is why we need other alternatives.
Update:
Billions of dollars get scammed due to CC fraud.
Based on my experience, here are the reasons :
1. It's difficult to find any stores which accept bitcoin
2. It's annoying to wait for a confirmation or more, especially you are in hurry
3. There are many scam bitcoin website & newbie don't know it
4. Bitcoin's volatility is too high
5. Buy/sell bitcoin is too difficult & expensive (many fees)
1) Online? No. You can buy pretty much anything that you want with Bitcoin today.1. It's difficult to find any stores which accept bitcoin
2. It's annoying to wait for a confirmation or more, especially you are in hurry
3. There are many scam bitcoin website & newbie don't know it
4. Bitcoin's volatility is too high
5. Buy/sell bitcoin is too difficult & expensive (many fees)
2) I don't see a situation in which you could not wait 10 minutes but had to acquire the goods that you want online?
3) Partially agree
4) No.
5) Expensive not really but I do agree with this point and I wanted to write about it at the moment.
Acquiring Bitcoin needs to be much more easier than it is today. If it was possible to acquire Bitcoin within a few hours that would probably make adoption spike. At the moment it requires you to scan a lot of documents and then wait until they (hopefully) approve you. Also more ATM(s) that do not require any verification are needed.
1) Can't buy the things most needed: rent, electricity, gasoline, medical insurance, food.....etc
2) Online purchases with bitcoin are risky, regardless of confirmation time, because there's no way to insure
that you'd receive the goods purchased.
3) Just one of many scams found right here on this site: https://bitcointalksearch.org/topic/ann-mercurial-mci-linking-crypto-currencies-1158117
4) It's way more volatile than USD!
5) It's hard to get because people don't use it enough: one doesn't purchase USD from the bank, they acquire
it by exchanging goods and services....right? If bitcoin were more legit, it'd be exchanged P2P more often.
I'm not a bitcoin hater....I love it actually....it just needs help.
So after reading this article and especially the ending:
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?
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 think many companies prefer to use fiat till now because they think it safest and less complicated for users, but most likely they're wrong, because in fact Bitcoin nowadays is secure payment processor and sending money through Bitcoin is faster even than many banking systems online and offline
Majority of the people don't want to be scammed that's why they are not using bitcoin .
But I think "fear" is the best answer to your question.
They are fear because of the rise and fall price of bitcoin.
They are afraid to invest.
But I think "fear" is the best answer to your question.
They are fear because of the rise and fall price of bitcoin.
They are afraid to invest.
Based on my experience, here are the reasons :
1. It's difficult to find any stores which accept bitcoin
2. It's annoying to wait for a confirmation or more, especially you are in hurry
3. There are many scam bitcoin website & newbie don't know it
4. Bitcoin's volatility is too high
5. Buy/sell bitcoin is too difficult & expensive (many fees)
1) Online? No. You can buy pretty much anything that you want with Bitcoin today.1. It's difficult to find any stores which accept bitcoin
2. It's annoying to wait for a confirmation or more, especially you are in hurry
3. There are many scam bitcoin website & newbie don't know it
4. Bitcoin's volatility is too high
5. Buy/sell bitcoin is too difficult & expensive (many fees)
2) I don't see a situation in which you could not wait 10 minutes but had to acquire the goods that you want online?
3) Partially agree
4) No.
5) Expensive not really but I do agree with this point and I wanted to write about it at the moment.
Acquiring Bitcoin needs to be much more easier than it is today. If it was possible to acquire Bitcoin within a few hours that would probably make adoption spike. At the moment it requires you to scan a lot of documents and then wait until they (hopefully) approve you. Also more ATM(s) that do not require any verification are needed.
A lack of knowledge about even the existence of Bitcoin keeps a majority of consumers away. For the rest of us - there are some who know but don't bother simply because it's more effort to buy Bitcoins and then spend them than just use your credit card to buy whatever you want to buy. It might cost a bit more in terms of fees - but people are always willing to pay a small premium for convenience.
This is the answer pure and simple - this is it. And it is so obvious.
Instead over analyzing and over complicating things we need to talk abut what to do about it.
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