Topic: When will people feel comfortable using BTC ? - page 24. (Read 12232 times)
when some shop receives payments with bitcoin, and lower fees than other online payment tools, then everyone will be very comfortable using bitcoin as a payment.
When people make money. I mean when they get their first ever income in bitcoin then they will feel comfortable in using it. Just like me, I will example myself. At first, I am not trusting any cryptocurrencies because I thought that all of them are just scammers and will just hack your money. But when my friend told me about bitcoin and he told me that he can make money out of it. I tried it. At first, its kinda tiring. I feel like im not going to make money in bitcoin. Until I had my first income.
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.
The people will be comfortable in using bitcoin when the government establish bitcoin as a legal way of using money and will be able to use in a lawful economy. 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 can relate comfortability in bitcoin to stabilization of bitcoin price to suite to the public. Most people become uncomfortable immediately thye price of bitcoin falls. Do not be disturbed because bitcoin stands outstanding among all the coins.
As for me, I feel comfortable using Bitcoin now. I know many people that have become richer thanks to the cryptocurrency. Sure that if the other guys have a desire, they can earn a lot on BTC and altcoins.
I think peoples feels comfort using bitcoin if government regulate bitcoin. Regulation from government are important because untill now, government think bitcoin using for illegal activity. If government issuing regulation, peoples will trust bitcoin for transaction
I can relate comfortability in bitcoin to stabilization of bitcoin price to suite to the public. Most people become uncomfortable immediately thye price of bitcoin falls. Do not be disturbed because bitcoin stands outstanding among all the coins.
Use Bitcoin for its features and benefits for life and do not care too much about its value fluctuations as it will make you feel more anxious. Actual value of Bitcoin is very large so I think the user can be assured of using Bitcoin.
The people can feel comfortable , if it will be accepted by all countries worldwide , because you can now made some transaction ,you can pay anywhere ,you can use your bitcoin anytime ,and anyplace becausr it is already universally accepted that is where the holders feels very comfortable in their life.
I think it is when everyone trust the 'blockchain technology' first.
They will have to read and understand how blockchain works.
As of now, even for people who own or trade bitcoin, not many of them understand what the blockchain is. We wouldn't expect them to feel comfortable using btc.
Understanding the blockchain technology will make one feels confident about the security, the low fee it offers and the potential it has. Then he or she will be more willing to use it for many purposes.
They will have to read and understand how blockchain works.
As of now, even for people who own or trade bitcoin, not many of them understand what the blockchain is. We wouldn't expect them to feel comfortable using btc.
Understanding the blockchain technology will make one feels confident about the security, the low fee it offers and the potential it has. Then he or she will be more willing to use it for many purposes.
I can relate comfortability in bitcoin to stabilization of bitcoin price to suite to the public. Most people become uncomfortable immediately thye price of bitcoin falls. Do not be disturbed because bitcoin stands outstanding among all the coins.
For more usage of btc some regulations such as taxation and legality of btc needs to be done in order to give confidence to the users, especially everyday users.
Well for me people would feel comfortable using BTC is when the time comes that majority of the people worlwide adopt and uses bitcoin in the daily transaction that would be the time people would be comfortable using bitcoin.
There is no doubt that people feel comfortable using bitcoin because the future of bitcoin is really good and for sure a lot of people is confident that with the help of bitcoin they can really have a chance to became profitable and i believe that bitcoin is trusted that's why people is feel compartable using it.
The earning access provided through cryptocurrency is the one that makes people feel comfortable using it. In particular this could have never been that popular and could have never reached such an increasing number of common people if they were not rewarded. The reward makes them get into a comfortable zone.
Overall : I bought products that were made from intermediate products that costed fiat. It was instantly converted and the storeholder got the money finally in fiat. I also converted the Bitcoins spent into fiat spent. This process shuns Bitcoin as a currency on a whole and just uses Bitcoin as a round about way to use fiat.
The use of Bitcoin to pay for the current service is very popular but still encounter many obstacles because the user has not mastered the technique of using the exchange by BTC, in addition to the transaction time and fees High is also the reason why BTC is not widely used as currency fiat.
Because it's fast, universal and anonymous, these are the main reasons in my opinion. It is working really fast and offer really good opportunities for users.
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 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.
People will be comfortable on using bitcoins when government on their country will fully legalize bitcoins because some people are just scared to be caught and might go to jail by breaking the rules.
Overall : I bought products that were made from intermediate products that costed fiat. It was instantly converted and the storeholder got the money finally in fiat. I also converted the Bitcoins spent into fiat spent. This process shuns Bitcoin as a currency on a whole and just uses Bitcoin as a round about way to use fiat.
People will feel comfortable if bitcoin becomes legal and can easily be used for daily transactions. And at that time bitcoin will be the real currency.
Bitcoin is virtual currency and their are many old minded people lives who still thing wrong and not trust on virtual currency. Bitcoin is based on a complex algorithm because of this many people did not understand and shows their interest in not to use it. Bitcoin is not accept in everywhere it means it is not a global currency and because of many people doesn't believe on it. Bitcoin is also use by many antisocial people to fulfil their criminal activities. And bitcoin also associated with malware attack, cyber crime etc. So these things make people uncomfortable to use it.
It is really better to spend my Bitcoin in future when it is ripe for high value than trading it today with less return.
The problem of comfortability doesn`t fall on the application (such wallet) of Bitcoin`s slow progress; it is the mindset of people in the society. If someone sees nothing but without an opportunity, well this is not the right stuff for you. Once again, we can be satisfied and feel comfortable if we would used the value of bitcoin in the future. Everyone lets Hodl
The problem of comfortability doesn`t fall on the application (such wallet) of Bitcoin`s slow progress; it is the mindset of people in the society. If someone sees nothing but without an opportunity, well this is not the right stuff for you. Once again, we can be satisfied and feel comfortable if we would used the value of bitcoin in the future. Everyone lets Hodl
This is because there is not much application of bitcoin in many of the localities. If stores, atm and other facilities would open for bitcoin, certainly this will open new opportunities for using it and further development on the use of bitcoin will be observed. Now there is not much utility applied to the use of bitcoin as a result real usage fall short over the number of persons who bought and hold it. Thus it results in more volatility because ones the holder of bitcoin decides to leave bitcoin because of profit or a loss certainly the price of bitcoin is affected. A chain of reaction can occur most often as people seemed to be so affected by a sudden drop of prices. So after the fall of price to a certain level, some of the coin holders will likewise decide to withdraw all of there bitcoin investments due to the fear of losing.
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