Topic: What's stopping people from using bitcoin? - page 41. (Read 202139 times)

Price stability is something that a lot of people are worried about. Compared to dollar which is more stable and more accepted, bitcoin is probably not in the list of things that most ordinary people would use as currency. But with more years of development and hopefully speedier transaction times, bitcoin would surely be wanted by more and more people.

That confused me.  How would a company store, like Walmart know how a given gift card was purchased?  I know that they all have serial numbers and the info can be looked up, but are you just referring to the fact that they allow their cards to be traded against Bitcoin without attacking the fact?

Merchants that actually accept bitcoin, rather than merchants that accept their own gift cards that were purchased with btc. It's a huge difference

I'm looking at you, Gyft and Walmart.

What I would like to see is a buffer zone for the price.  I think the highly flucuating price can throw people off.  Just last week a person wanted to buy $50 in BTC using EUROS.  They sent me the EUROS and I think the price was about $435 at that moment.  They started changing their mind and took some time to think, then they said go ahead and send the BTC.  Our exchange put a security hold on that one transaction and it took almost eight hours, this happens about once per month.  They finally got their coins and the price had gone up to $500 by the end of the transaction.

They were happy, but asked if we were pissed that they were now sitting on about $75 worth of coins.  I said no because we spent $50 at the beginning of the TX and that is how business goes.  This was a little confusing for the guy, but he is cool. That is just one transaction.  Imagine a grocery store that stocks its shelves with groceries when the price is $450 and has to sell those groceries over hours, days and weeks at whatever the market value of BTC is at the moment.  In one sense, it always works out, a $1 bag of chips cost the grocer 75 cents when bought and sold for $1, no matter what the price of BTC.  The other side of the coin is the customer trying to wrap their head around the fact that at the beginning of an hour bout of shopping the Bitcoin was $450 and now that they hit check out it is $500.  

I can picture a customer standing just outside of check and staring at their phone, trying to figure the best moment to check out versus the price of BTC.  Simple is simple, the price always works itself out from one exchange to another and the only major effect of the price changes is with an investment style holding.  If you get paid $15 an hour in Bitcoins for one hour and that buys 15 bags of chips, it is always $15 per hour and the chips are always $1 per bag.  

yeah it's true the lack of knowledge is what keeping them away. They don't know what bitcoin really is, that's why they're staying away. but the good thing is nowadays more more people showing their interest in bitcoin and the day will come when even the smallest shop in the corner of a street will accept bitcoin.

I have introduced this forum to two of my colleagues and they were just like, "What?", "Uhm, Okay.", "Lame.", "Scam." and "No proof.". I have no proof to show them about the money in my wallet because I'm still waiting for the halving before I withdraw my coins. Oh well, it seems that it is a fact that people are scared of what they don't understand. If they can't understand a thing, they will just leave it as "not understood" instead of trying to work on it, and actually learning and understanding the whole thing.

The fact is people hesitate in investing their money into something they really don't know as they have fear of loosing their money and may that is the reason they prefer to stay away from it.

Half true. Some think that way. But some goes to the internet to enjoy it. They dont want anything to do with another work. They think internet is just for that. Fun and knowledge not working again.

Thank you for the information I use to think Bitcoin HYIP monitor. I know my English is not very good with translations.

Hacking is very essential for the cyber world, and that's one really a very inevitable and bitcoin is really a has a great value now. But the security of
online wallets are strong, I don't know if there is already a news that an online wallet network has been hacked.
But online things are hard to be understand for those people who really don't know what it is and they just only know the word hack.

For most people bitcoin seems to be dangerous. It's online money and people don't fully understand or trust online.
Think about the hacks/ criminals that happen. Most people are just scared.

That's true but I wonder why people gets carried away with news that they hear rather then making their own research to know what the fact is.

Except Japan though. From what I heard, Japan's media has quite a good support towards bitcoin and I do think China does the same. It is usually the western countries that has never really shown much support on bitcoins.

I will say value fluctuation is the main reason for stopping this. Currently its pretty good. Also i heard from thi forum that many people are losing their BTC by hackers. They have stop this and secure this.

Bitcoin are not tied to any country so there's no reason they would stop using bitcoin if they already know about usefulness of bitcoin.

Bad name? I think this word 'BITCOIN' is one of the sexiest names I have heard of.
And how is it risky? If you buy today and use it today, it's not risky at all. It is you who make it risky for yourself holding it for long and waiting for higher prices in greed.

The most people do not know the bitcoin and others are just scared to invest because its stays risky of course.
Another fact is that it has a bad name and that makes it also risky for some in their eyes.

They might not have faith in news but once they listen something bad about anything then its not easy to forget it and they will think twice before investing.

Then those people are not eager to learn about bitcoin. So lazy to do research. Like I said if people wants to know this they will seek the information from themselves rather than they just believe on the news.


If that's the case, you are the only one who can solve that as you know what bitcoin brings up to the people. Since it's your family who do they believe, to you that engage in bitcoin everyday or in those media that don't even have a bitcoin wallet?

Its a big deal for my family, when I was talking about bitcoin, they replied that it is bad because some news said that. You know, every bad news always success to get interest of many people