How hard is it to 'hack' TD Ameritrade, Vanguard, Fidelity user accounts ??
I'm sure that it's possible to break/hack nearly all wallet security features ..
But what type of hacks are probable ??
Mass adoption requires that the user trust the security features in place ..
Someone could hack my Fidelity account, but they wouldn't be able to steal my funds ..
There needs to be a security step from within the wallet that would prevent an unauthorized withdrawal ..
Just sayin'
Triff ..
Topic: When will people feel comfortable using BTC ? - page 42. (Read 12274 times)
When will people feel comfortable using BTC ??
When there is a completely dumbed down simple to use secure brain wallet ..
Triff ..
This will never be possible as it is possible to use ASICs to compile addresses that correspond to various brain wallets and monitor those addresses. The fact that brain wallets are, in essence a non-randomly created private key your chances of having your funds stolen will always be much higher then if you generated your private key with a "real" RNG When there is a completely dumbed down simple to use secure brain wallet ..
Triff ..
When will people feel comfortable using BTC ??
When there is a completely dumbed down simple to use secure brain wallet ..
Triff ..
When there is a completely dumbed down simple to use secure brain wallet ..
Triff ..
Cryptos are likethe badlands, hardly anyone ever gets caught/punnished for their scams.
If they (who? god knows) could start clamping down on them then maybe the reputation could rise up quicker.
If they (who? god knows) could start clamping down on them then maybe the reputation could rise up quicker.
The bitcoin wallets software need to get mature to eliminate the risks.
Also, they need to become MUCH MORE user friendly, and the transactions need to be processed faster.
This is the turning point for bitcoin.
Also, they need to become MUCH MORE user friendly, and the transactions need to be processed faster.
This is the turning point for bitcoin.
Everyone is different but many people will start using BTC when government-run lotteries switch from fiat to BTC, as TheButterZone said.
I think it depends on the person.
The idea is to make wallets that are more idiot proof/idiot resistant
This will not happen if Apple don't allow wallet application on their store.
Regardless this is not about just apple/iphone wallets, it is about all wallets needing to be idiot resistant
Can't we just wait for them to learn, natural selection-style?
When government-run lotteries switch from fiat to BTC.
Soon. Depends only fraction of people interested in bitcoin.
You may think that cash (banknotes and coins) is a costfree and easy medium of exchange. But if you handle it all the time, it is easier to see. For instance if you have a shop or a restaurant. You have to have assorted denominations at hand, so you may have to go to the bank each morning to set yourself up. Each night, you have to deposit the days turnover into a nightsafe. If it is a not completely safe area, you can not send a young girl alone to do that, you have to send two together or do it yourself. You need to have a drawer to keep money during the day. You have to think about robbery. These costs have to be compared to the costs of card transactions, or to the cost of bitcoin transactions.
I think that the sum of the direct bitcoin fee and the other costs of bitcoin transactions can easily compete with both fiat cash and cards.
You may think that cash (banknotes and coins) is a costfree and easy medium of exchange. But if you handle it all the time, it is easier to see. For instance if you have a shop or a restaurant. You have to have assorted denominations at hand, so you may have to go to the bank each morning to set yourself up. Each night, you have to deposit the days turnover into a nightsafe. If it is a not completely safe area, you can not send a young girl alone to do that, you have to send two together or do it yourself. You need to have a drawer to keep money during the day. You have to think about robbery. These costs have to be compared to the costs of card transactions, or to the cost of bitcoin transactions.
I think that the sum of the direct bitcoin fee and the other costs of bitcoin transactions can easily compete with both fiat cash and cards.
I'd say once the real money has been made by early adopters. Once the true value is realized and hype sets in people will take the time to learn all about it. 
I think the amount of mobile apps being developed will help attract many new users and will contribute to the use of BTC as time progresses. BTC is an excellent global currency but for the most part the general public doesn't see the value in that just yet.
I think the amount of mobile apps being developed will help attract many new users and will contribute to the use of BTC as time progresses. BTC is an excellent global currency but for the most part the general public doesn't see the value in that just yet.
The idea is to make wallets that are more idiot proof/idiot resistant
This will not happen if Apple don't allow wallet application on their store.
Regardless this is not about just apple/iphone wallets, it is about all wallets needing to be idiot resistant
Can't we just wait for them to learn, natural selection-style?
The idea is to make wallets that are more idiot proof/idiot resistant
This will not happen if Apple don't allow wallet application on their store.
Regardless this is not about just apple/iphone wallets, it is about all wallets needing to be idiot resistant
The idea is to make wallets that are more idiot proof/idiot resistant
This will not happen if Apple don't allow wallet application on their store.
For wider acceptance of BTC there is also a lack of definitive guidance on both the taxation and reporting of Bitcoin, which is still very confusing for taxpayers.
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 wont trust bitcoin ever in general public, because they know that their funds can be stolen without being able to get it back.
Only shot bitcoin realy has , is to change target audience from general public to investment firms.
The idea is to make wallets that are more idiot proof/idiot resistant
And I agree, one of the main reasons holding bitcoin back is the lack of conveniece in dealing with it. Traditional payment methods are used and accepted by the majority because it is so universal, and because it was there.
The best way to encourage adoption is to set up a business that deals with BTC and caters to your local market.
Me and a bunch of my friends are setting up a business just for that!
Another reason why people hold bitcoin (and not spend it) is because it is a deflationary currency. People hope that it's price will rise in the future. Why would you spend coins today when they will be worth more tomorrow? The best way to encourage adoption is to set up a business that deals with BTC and caters to your local market.
Me and a bunch of my friends are setting up a business just for that!
A good reason why bitcoin is not a good currency.
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 wont trust bitcoin ever in general public, because they know that their funds can be stolen without being able to get it back.
Only shot bitcoin realy has , is to change target audience from general public to investment firms.
I think, people will feel comfortable by using bitcoin, as a day-to-day p2p technology, for crypto e-mail and for crypto messaging applications sooner, than using it as a day-to-day payment tool.
1) Bitcoin tend to be inherently unstable, 2) has limited connection with the real economy, 3) their low volume is traded (comparing with say gold) and 4) it is a lack of wide user acceptance (comparing with say gold). So, when these issues will be sorted....
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