Pages:
Author

Topic: When will people feel comfortable using BTC ? - page 44. (Read 12232 times)

newbie
Activity: 56
Merit: 0
It depends on the person. If you ask when the majority of people will feel confortable using BTC I think it would be after a very long time, surely not in our life time, maybe never.
The vast majority of people don't understand money, how they came to be and what they represent... how do you aspect them to understand the benefits of using BTC as a currency?
I think it is matter of time. Take a credit card as example. The Charga-Plate, developed in 1928, was an early predecessor to the credit card and used in the U.S. from the 1930s to the late 1950s. Until 1958, no one had a stable revolving credit financial system by a third-party bank; that was generally accepted by a large number of merchants, as opposed to merchant-issued revolving cards accepted by only a few merchants. Only in 1958, Bank of America launched the BankAmericard in Fresno, California and became the first successful recognizably modern credit card. So, it took 30 years...


You are confuseing things. A credit card is not a new currency, it just provide the means to spend existing currency: the dollar. This is a different thing, I different ideology that many of my friends have a hard time understanding. Make an experiment: try to explain to a poor uneducated man what bitcoin is and you might be amaized of what he understand.
Well, "yes" and "no". The things are different, but the human psychology and resistance to the change is the same. 


Indeed you are right, but the bigger the change the bigger the resistance, and BTC over usd it is a huuuuuge change.
Actually the bitcoin is much more then a cryptocurrency. It is a new technology which is already used for the development of crypto e-mail and crypto twitter.
legendary
Activity: 1397
Merit: 1019
It depends on the person. If you ask when the majority of people will feel confortable using BTC I think it would be after a very long time, surely not in our life time, maybe never.
The vast majority of people don't understand money, how they came to be and what they represent... how do you aspect them to understand the benefits of using BTC as a currency?
I think it is matter of time. Take a credit card as example. The Charga-Plate, developed in 1928, was an early predecessor to the credit card and used in the U.S. from the 1930s to the late 1950s. Until 1958, no one had a stable revolving credit financial system by a third-party bank; that was generally accepted by a large number of merchants, as opposed to merchant-issued revolving cards accepted by only a few merchants. Only in 1958, Bank of America launched the BankAmericard in Fresno, California and became the first successful recognizably modern credit card. So, it took 30 years...


You are confuseing things. A credit card is not a new currency, it just provide the means to spend existing currency: the dollar. This is a different thing, I different ideology that many of my friends have a hard time understanding. Make an experiment: try to explain to a poor uneducated man what bitcoin is and you might be amaized of what he understand.
Well, "yes" and "no". The things are different, but the human psychology and resistance to the change is the same. 


Indeed you are right, but the bigger the change the bigger the resistance, and BTC over usd it is a huuuuuge change.
newbie
Activity: 56
Merit: 0
When bitcoin value will stop the exponential growth of these years, people will start to use them as substitute of Fiat.
I would agree - the price stability is a key for a day to day business to eliminate exchange rate risk. Another factor - switching costs. Both financial and psychological. I would not agree with the opinion I read somewhere here that for bitcoin the specific education level is needed. I think it is only the question of the front end interfacing and availability of a suitable ecosystem. In order to buy/sell a cake you don't need to be a banker, or to watch satellite tv you don't need to be a rocket scientist. Smiley And this is a beauty of bitcoin.
legendary
Activity: 1540
Merit: 1029
Set up a dollar cost averaging plan in regards to your purchases of BTC. You will feel much more comfortable spending BTC if you know you are going to be replenishing your reserves on a monthly or bi-weekly basis.
newbie
Activity: 56
Merit: 0
It depends on the person. If you ask when the majority of people will feel confortable using BTC I think it would be after a very long time, surely not in our life time, maybe never.
The vast majority of people don't understand money, how they came to be and what they represent... how do you aspect them to understand the benefits of using BTC as a currency?
I think it is matter of time. Take a credit card as example. The Charga-Plate, developed in 1928, was an early predecessor to the credit card and used in the U.S. from the 1930s to the late 1950s. Until 1958, no one had a stable revolving credit financial system by a third-party bank; that was generally accepted by a large number of merchants, as opposed to merchant-issued revolving cards accepted by only a few merchants. Only in 1958, Bank of America launched the BankAmericard in Fresno, California and became the first successful recognizably modern credit card. So, it took 30 years...


You are confuseing things. A credit card is not a new currency, it just provide the means to spend existing currency: the dollar. This is a different thing, I different ideology that many of my friends have a hard time understanding. Make an experiment: try to explain to a poor uneducated man what bitcoin is and you might be amaized of what he understand.
Well, "yes" and "no". The things are different, but the human psychology and resistance to the change is the same. 
legendary
Activity: 1397
Merit: 1019
It depends on the person. If you ask when the majority of people will feel confortable using BTC I think it would be after a very long time, surely not in our life time, maybe never.
The vast majority of people don't understand money, how they came to be and what they represent... how do you aspect them to understand the benefits of using BTC as a currency?
I think it is matter of time. Take a credit card as example. The Charga-Plate, developed in 1928, was an early predecessor to the credit card and used in the U.S. from the 1930s to the late 1950s. Until 1958, no one had a stable revolving credit financial system by a third-party bank; that was generally accepted by a large number of merchants, as opposed to merchant-issued revolving cards accepted by only a few merchants. Only in 1958, Bank of America launched the BankAmericard in Fresno, California and became the first successful recognizably modern credit card. So, it took 30 years...


You are confuseing things. A credit card is not a new currency, it just provide the means to spend existing currency: the dollar. This is a different thing, I different ideology that many of my friends have a hard time understanding. Make an experiment: try to explain to a poor uneducated man what bitcoin is and you might be amaized of what he understand.
newbie
Activity: 56
Merit: 0
It depends on the person. If you ask when the majority of people will feel confortable using BTC I think it would be after a very long time, surely not in our life time, maybe never.
The vast majority of people don't understand money, how they came to be and what they represent... how do you aspect them to understand the benefits of using BTC as a currency?
I think it is matter of time. Take a credit card as example. The Charga-Plate, developed in 1928, was an early predecessor to the credit card and used in the U.S. from the 1930s to the late 1950s. Until 1958, no one had a stable revolving credit financial system by a third-party bank; that was generally accepted by a large number of merchants, as opposed to merchant-issued revolving cards accepted by only a few merchants. Only in 1958, Bank of America launched the BankAmericard in Fresno, California and became the first successful recognizably modern credit card. So, it took 30 years...
newbie
Activity: 27
Merit: 0
I love Coinbase's new auto-buy option when making a purchase. That'll certainly help.

I really don't buy much, and the gift card hoop jumping is just annoying - I've played with it but it takes a real effort.

When I can pay for gas at the pump with BTC...
When I can go to the supermarket and spend BTC...
and when local restaurants/bars/coffee shops are taking BTC...

then I will be spending BTC.
legendary
Activity: 1397
Merit: 1019
It depends on the person. If you ask when the majority of people will feel confortable using BTC I think it would be after a very long time, surely not in our life time, maybe never.
The vast majority of people don't understand money, how they came to be and what they represent... how do you aspect them to understand the benefits of using BTC as a currency?
sr. member
Activity: 266
Merit: 250
When EVERYTHING is paying paid with BTC, and when it gains more trust and when you see BTC ATM machines in streets.

The key to the economy having anything close to this happening is getting more merchants to accept bitcoin for payment
sr. member
Activity: 252
Merit: 250
When EVERYTHING is paying paid with BTC, and when it gains more trust and when you see BTC ATM machines in streets.
legendary
Activity: 1582
Merit: 1196
Reputation first.
When Bitcoin will accepted everyone by everyone entrapeneur which manage it's activity ! Smiley
sr. member
Activity: 280
Merit: 250
🌟 æternity🌟 blockchain🌟
some of them never (less and less with every generation), others very fast, like myself (more and more with every generation)
and technological generations are renewing daily.
sr. member
Activity: 266
Merit: 250
When bitcoin value will stop the exponential growth of these years, people will start to use them as substitute of Fiat.

People will use bicoin as a substitute for fiat prior to then.

Any time someone holds something of value and they need to purchase something they will use whatever means they have to purchase that item.

People will not go into debt just so they can hold onto their bitcoin.
full member
Activity: 196
Merit: 101
When bitcoin value will stop the exponential growth of these years, people will start to use them as substitute of Fiat.
full member
Activity: 153
Merit: 100
Some of the miners already feel comfortable using BTC as payment to get their miners.
legendary
Activity: 3724
Merit: 1217
Some stores (specially brick stores) that started accepting bitcoin as payment complain that they spent time and money training their employees, but no ones uses bitcoin.

They needs to advertise themselves a bit more, especially in Bitcoin-related forums and blogs. And the most important thing is that they need to remain patient. The bitcoin adoption is only slowly catching on. It is not mainstream yet.
sr. member
Activity: 266
Merit: 250
There are people using BTC as a replacement for fiat. There was even an article about a reporter who tried to live on BTC for one week. She did a follow up not long ago, trying to do the same thing and was much more successful this year. Her conclusion was that the lack of businesses accepting bitcoin is preventing people from spending them on everyday items. 

Quote
How do you spend 10 mBTC on a 5$ digital good when you believe that the same 10mBTC is worth atleast 15$ , probably more.

The price of bitcoin is determined by the market. If you feel that the price of BTC is undervalued then you can simply buy more. If you wanted to buy a $5 digital good from a merchant that only accepts BTC for 10 mBTC but you feel that 10mBTC is worth $15 then you can simply buy the good then buy 10mBTC on an exchange to replenish your supply.
full member
Activity: 315
Merit: 103
Dish network just announce they will take bitcoin as payment.
legendary
Activity: 1455
Merit: 1033
Nothing like healthy scepticism and hard evidence
I read mixed reports.

Some stores (specially brick stores) that started accepting bitcoin as payment complain that they spent time and money training their employees, but no ones uses bitcoin.
Pages:
Jump to: