When will people feel comfortable using BTC ? - page 14.

chromosomes

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Quote from: jambola2 on May 31, 2014, 01:09:28 PM

When will people spend BTC as easily as fiat , not seeing it as an investment opportunity but a better currency for them to use ? Most of my friends that I have currently told about Bitcoin are most intrigued by its rapid rate of growth and not its outstanding features as a currency. They don't really care that it is free from government control , but are more focused on the fact that it has risen xy%

I don't really spend much of my Bitcoin , because I am always in fear.
I am not talking about cashing out , but for digital goods.

How do you spend 10 mBTC on a 5$ digital good when you believe that the same 10mBTC is worth atleast 15$ , probably more.
How much of your Bitcoin have you hoarded , and how much have you really spent ?
I am under the impression that people tend to hoard more with BTC than with fiat , considering it an investment more than a currency

I don't know how to make a poll here , so :- http://strawpoll.me/1793917
This is not referring to your blockchain.info statistic , which includes money you have moved around. I am looking at money you have truly spent vs total amount of BTC you have received.

Overall , I'm trying to look at how much my guess is true by the poll and your estimates of when majority of people will start looking at BTC as a currency.

EDIT : I'm not sure this is the right section , tell me if this should go in General Discussion or so.

We all that bitcoin was already banned in some countries, having that would make people feel uncomfortable using it already since they would have a negative view about it. If bitcoin is going to be legalized soon, it may help in making everyone feel comfortable about the use of it bit by bit. We should keep on supporting it to make it possible for bitcoin to make everyone feel comfortable using it.

hilawnasaging

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Well, some people are now turning their backs to BTC, however some people still thinks that BTC are scam and against their religion. I have talk to someone that they think BTC are one of the plagues that will reunite all the countries and eventually make a world order, that states that ONE WORLD, ONE RELIGION, ONE CURRENCY. While some people thinks BTC are still a scam because of the wrong information spread to them.

Samohunk

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In my opinion, we can be more comfortable to use cryptocurrency in the future because it will already accepted worldwide. Maybe these countries which suspend Bitcoins transactions might change their mind or countries which was accepting Bitcoins today will ban it. Regarding to your idea of using Btc as a currency, I think it will be more on looking it as an investment given the fact that it was a goof store of value. But anyway it's just my own opinion, just have faith and keep the good work. Good luck.

korean1999

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the people who have used bitcoin as a currency, not for investments are the people who don't want anyone to keep track on their money and transactions. And most of them are terrorists who want to buy weapons or dirty highly ranked officer in the government who use it as the money laundering.

Napole0n

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In my opinion, people feel comfortable using bitcoin, as we know that the current bitcoin transaction costs are very cheap, making all users feel happy and comfortable doing transactions with bitcoin.

GREATLOVE

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Quote from: jambola2 on May 31, 2014, 01:09:28 PM

When will people spend BTC as easily as fiat , not seeing it as an investment opportunity but a better currency for them to use ? Most of my friends that I have currently told about Bitcoin are most intrigued by its rapid rate of growth and not its outstanding features as a currency. They don't really care that it is free from government control , but are more focused on the fact that it has risen xy%

I don't really spend much of my Bitcoin , because I am always in fear.
I am not talking about cashing out , but for digital goods.

How do you spend 10 mBTC on a 5$ digital good when you believe that the same 10mBTC is worth atleast 15$ , probably more.
How much of your Bitcoin have you hoarded , and how much have you really spent ?
I am under the impression that people tend to hoard more with BTC than with fiat , considering it an investment more than a currency

I don't know how to make a poll here , so :- http://strawpoll.me/1793917
This is not referring to your blockchain.info statistic , which includes money you have moved around. I am looking at money you have truly spent vs total amount of BTC you have received.

Overall , I'm trying to look at how much my guess is true by the poll and your estimates of when majority of people will start looking at BTC as a currency.

EDIT : I'm not sure this is the right section , tell me if this should go in General Discussion or so.

Well people will be comfortable when they see the amount of bitcoin will rise .

Dontme

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Quote from: jambola2 on May 31, 2014, 01:09:28 PM

When will people spend BTC as easily as fiat , not seeing it as an investment opportunity but a better currency for them to use ? Most of my friends that I have currently told about Bitcoin are most intrigued by its rapid rate of growth and not its outstanding features as a currency. They don't really care that it is free from government control , but are more focused on the fact that it has risen xy%

I don't really spend much of my Bitcoin , because I am always in fear.
I am not talking about cashing out , but for digital goods.

How do you spend 10 mBTC on a 5$ digital good when you believe that the same 10mBTC is worth atleast 15$ , probably more.
How much of your Bitcoin have you hoarded , and how much have you really spent ?
I am under the impression that people tend to hoard more with BTC than with fiat , considering it an investment more than a currency

I don't know how to make a poll here , so :- http://strawpoll.me/1793917
This is not referring to your blockchain.info statistic , which includes money you have moved around. I am looking at money you have truly spent vs total amount of BTC you have received.

Overall , I'm trying to look at how much my guess is true by the poll and your estimates of when majority of people will start looking at BTC as a currency.

EDIT : I'm not sure this is the right section , tell me if this should go in General Discussion or so.

You will feel it obviously because of greediness ofcourse that’s the nature of people but taking it for the future is also good since you are thinking about the value of it.

ucingucingan

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Quote from: Altf4 on August 15, 2018, 07:38:54 AM

The people will be feeling comfortable using bitcoin ,when thwe crypto will be recognized and accepted by the different establishment around the world, like restaurant ,shopping mall , theater , sports events , and many more , so bitcoin holders are very feelling comfortable with this bitcoin.

I think bitcoin is more convenient if used as an investment commodity only and not as a payment instrument like a conventional currency, this is because bitcoin prices tend to change, of course it would be unfortunate if bitcoin is only used as a payment tool

ucingucingan

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I think people who really understand bitcoin as an asset now feel comfortable, even though the dynamics of price change often occur even very volatile, this makes the newcomers feel uncomfortable for fear of losing their bitcoin and losing money, but for bitcoin professionals they use it as opportunity to get lots of bitcoin

Altf4

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The people will be feeling comfortable using bitcoin ,when thwe crypto will be recognized and accepted by the different establishment around the world, like restaurant ,shopping mall , theater , sports events , and many more , so bitcoin holders are very feelling comfortable with this bitcoin.

indayburakday012

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Emotions will surely over flowed on this system as we all know that bitcoin market price is so volatile that it has almost huge fluctuations almost everyday that will going to happen. It is not a stable coins like any other crypto because bitcoin is one of the establish and known crypto in the market. This is why if you will going to ask when will people feel comfortable using BTC? Then the answer is clear and that is when bitcoin market price is high.

bilyboy

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Quote from: jambola2 on May 31, 2014, 01:09:28 PM

When will people spend BTC as easily as fiat , not seeing it as an investment opportunity but a better currency for them to use ? Most of my friends that I have currently told about Bitcoin are most intrigued by its rapid rate of growth and not its outstanding features as a currency. They don't really care that it is free from government control , but are more focused on the fact that it has risen xy%

I don't really spend much of my Bitcoin , because I am always in fear.
I am not talking about cashing out , but for digital goods.

How do you spend 10 mBTC on a 5$ digital good when you believe that the same 10mBTC is worth atleast 15$ , probably more.
How much of your Bitcoin have you hoarded , and how much have you really spent ?
I am under the impression that people tend to hoard more with BTC than with fiat , considering it an investment more than a currency

I don't know how to make a poll here , so :- http://strawpoll.me/1793917
This is not referring to your blockchain.info statistic , which includes money you have moved around. I am looking at money you have truly spent vs total amount of BTC you have received.

Overall , I'm trying to look at how much my guess is true by the poll and your estimates of when majority of people will start looking at BTC as a currency.

EDIT : I'm not sure this is the right section , tell me if this should go in General Discussion or so.

I think it all depends on how we live it. We live in the world of digital currency for profit by utilizing the irregular bitcoin prices. There is an opportunity for us to get a profit or can be called also with investment. There are even people who seriously invest in bitcoin with a large enough capital just by utilizing the ups and downs of prices to get a profit. There we can feel comfortable using bitcoin.

hotBriX001

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Quote from: Crafts12 on August 14, 2018, 11:18:40 AM

Quote from: Nobitcoin on May 31, 2014, 01:21:39 PM

I believe the answer to your question would be when the big supermarkets accept some form of btc for their goods.

Aside from that. people will be comfortable in using bitcoin when the right time comes and that right time is when all the people living in the world will have an agreement in legalizing the bitcoin in all over the world. People will be comforatble in bitcoin if they will fully understood the mechanics and system of it and how it affects their daily lives positively. I hope that day will come soonest.

Agree. Legalization of bitcoin currency is the great factor that people would become comfortable using of it. Because as of today there are many countries which are not aware yet the existence of cryptocurrency investment.

Sand King

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Quote from: gaidarpop on August 08, 2018, 09:30:21 AM

If we compare crypto with concepts like cards and all, crypto is still new. This will take time but it will establish itself as a payment system.

I am sure that people will feel comfortable using bitcoin when bitcoin value will increase again because a lot of people know are not trusting bitcoin, and even the value is low they dont want to buy anymore, hoping that bitcoin will bounceback so many more people will invest.

Sandra_Skelley

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It will take time. Nothing in life is automatic. People are used to fiat money. They are afraid of new currencies. It is totally normal to consider. Even the governments make negative ads by refusing to accept cryptos. There is a state-bank alliance and it is obvious. Both are together to make sure people never become too rich. Only a certain class must be rich and could control the other. But the bitcoin and virtual money are here to end that. The financial world will change in upcoming years. Let us wait and see.

stellaekun

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people will feel comfortable using bitcoin when they have a go ahead from governments, that will open up a whole range of possibility, adoption will grow explosively and people will feel confident using bitcoin

Sandy25

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Bitcoin is more use as investment than spending it, specially when bought on dip.. Though some resto or store already accepting btc as payment.. But me personally i wont use it esp when price is down.. I think it would be comfortable enough to use if the price of btc stabilize which is not sure when it will happen.

Evan_Doyle

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Quote from: sweetwine on August 14, 2018, 10:26:23 AM

Honestly, BTC is hard to be used comfortably because now it is easily volatile and not stable. Its price is fluctuating all of time. Furthermore, it still has more the speculation. But if BTC can fix all of its shortcoming, it would be regulated and popular in any transaction in the world. Since btc has more advantages by its technology. At that moment, people would feel comfortable using BTC as a real currency.

If you buy it at low levels, you won't care as much about the fluctuations. If you want to use it for small purchases as the OP said (which I think is extremely impractical) then you wouldn't really care much about those small differences in price.

Bitcoin is much better used as a store of wealth to contain money rather than as something to buy lunch with. It's more useful to have large transactions and use the money you take from bitcoin to buy something useful or invest in something else, like mining mentioned above.

Interestingly most people either spend less than 10% or most. But there are only 14 votes. Instead of spamming with nonsense ideas, people should contribute to the OP's study and vote.

ololajulo

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Quote from: sweetwine on August 14, 2018, 10:26:23 AM

Honestly, BTC is hard to be used comfortably because now it is easily volatile and not stable. Its price is fluctuating all of time. Furthermore, it still has more the speculation. But if BTC can fix all of its shortcoming, it would be regulated and popular in any transaction in the world. Since btc has more advantages by its technology. At that moment, people would feel comfortable using BTC as a real currency.

Volatility is a big problem of transaction. the last time I tried buying on an online mall, It took more than 12hr before the amount of bitcion to be paid was calculated and am expected to pay as soon as possible. More so the transaction took a longer time to confirm. Another problem will be if you have problem with the goods and have to be refunded the price might gone higher or viceversa which might be economically not benefiting to the 2 parties.

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Quote from: feelingfroggy on August 14, 2018, 03:38:36 PM

My guess is people will feel comfortable when you can spend it on a credit card just like they are used to. It's gotta be easy for these folks or they are going to reject it.

I think people feel comfortable using bitcoin when the big companies or stablishment accept it as a payment. It makes our life easirer to transact.

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