Shops online that uses BTC are incredibly raised their earnings. its not a lot of time until more and more people will understand it.
lets not forget the start-ups companies who wish to open business bank accounts they need a fairly large guarantee deposit, so smart entrepreneurs who have a business idea could simply employ it without the worry of payment processing plus all the risks & extra cost that comes with implementing credit cards payments on theeir website! 
Topic: When will people feel comfortable using BTC ? - page 45. (Read 12232 times)
Shops online that uses BTC are incredibly raised their earnings. its not a lot of time until more and more people will understand it.
I then go to my favorite shop and spend it to get 600$ worth of stuff. They use bitpay and it gets converted for them in fiat.
Bitpay levels their stock , maintaining the amount they want to keep , by selling it back to exchanges.
Not necessarily, many shops use the option to only convert 80-90% back into fiat and the rest remains as btc, so as more merchants will accept it, the less they will convert.
Simply buy back the bitcoins you spend by using the fiat you saved by spending bitcoin instead.
So instead of doing groceries for $50, do them for 0,08 bitcoin (or something) and than use the $50 to buy back 0,08 bitcoin.
This will make dollars less useful (less people buy with dollars) and bitcoin more wanted.
Actually , I think that forgoes the point.
Let's say I buy a bitcoin from any exchange , which is a pretty popular location.
I then go to my favorite shop and spend it to get 600$ worth of stuff. They use bitpay and it gets converted for them in fiat.
Bitpay levels their stock , maintaining the amount they want to keep , by selling it back to exchanges.
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.
Those conditions are fulfilled only if you live in the US.
In most countries, including in Europe, you can buy almost nothing with bitcoin. As long as this situation endures, bitcoin won't expand for purchasing reasons, but for investing/hoarding reasons. As a means to store value and not as mean of payment.
In most countries, including in Europe, you can buy almost nothing with bitcoin. As long as this situation endures, bitcoin won't expand for purchasing reasons, but for investing/hoarding reasons. As a means to store value and not as mean of payment.
This is only partly true. Shops don't accept gift cards here, or not the American ones anyway. But Europe has as many stores as the USA to directly accept bitcoin.
When price of bitcoin stablises and holders of bitcoin do not expect bitcoin price to rise much further, people will start spending bitcoin as a currency. Until then, people are just going to hold on to them. Why should anyone spend any bitcoin now when he knows they are going to be worth more in a few months' time.
Simply buy back the bitcoins you spend by using the fiat you saved by spending bitcoin instead.
So instead of doing groceries for $50, do them for 0,08 bitcoin (or something) and than use the $50 to buy back 0,08 bitcoin.
This will make dollars less useful (less people buy with dollars) and bitcoin more wanted.
if your friend just buy btc and consider it an investment, then tell them that they should invest their btc in bitcoin startups. This leads to increased overall spending.
When price of bitcoin stablises and holders of bitcoin do not expect bitcoin price to rise much further, people will start spending bitcoin as a currency. Until then, people are just going to hold on to them. Why should anyone spend any bitcoin now when he knows they are going to be worth more in a few months' time.
Those conditions are fulfilled only if you live in the US.
In most countries, including in Europe, you can buy almost nothing with bitcoin. As long as this situation endures, bitcoin won't expand for purchasing reasons, but for investing/hoarding reasons. As a means to store value and not as mean of payment.
In most countries, including in Europe, you can buy almost nothing with bitcoin. As long as this situation endures, bitcoin won't expand for purchasing reasons, but for investing/hoarding reasons. As a means to store value and not as mean of payment.
People will use bitcoin when the following conditions are met:
1) Apps make it VERY easy to buy/sell and trade
2) Big stores and grocery stores accept it, IE Target, Walmart, Food 4 Less, Stater Bros etc
3) Stores offer discounts for using bitcoins (pass on some of the savings from credit card percentage charges to us)
4) People can take part of the their income in bitcoin (see https://bitpay.com/bitcoin-payroll-api)
1) Apps make it VERY easy to buy/sell and trade
2) Big stores and grocery stores accept it, IE Target, Walmart, Food 4 Less, Stater Bros etc
3) Stores offer discounts for using bitcoins (pass on some of the savings from credit card percentage charges to us)
4) People can take part of the their income in bitcoin (see https://bitpay.com/bitcoin-payroll-api)
Well , gyft.com fulfills 2&3 to an extent.
It provides gift cards for a multitude of locations , Target , Sears , Gamestop , Amazon.
You get a 3% cashback on any gift card you purchase.
I believe the answer to your question would be when the big supermarkets accept some form of btc for their goods.
Yes, I reall ywonder what will be the point where supermarkets start accepting it though. Right now it seems like internet shops and bars/restaurants accept it, but not much more than that.
What's next after that?
Where in line do supermarkets stand?
People will use bitcoin when the following conditions are met:
1) Apps make it VERY easy to buy/sell and trade
2) Big stores and grocery stores accept it, IE Target, Walmart, Food 4 Less, Stater Bros etc
3) Stores offer discounts for using bitcoins (pass on some of the savings from credit card percentage charges to us)
4) People can take part of the their income in bitcoin (see https://bitpay.com/bitcoin-payroll-api)
1) Apps make it VERY easy to buy/sell and trade
2) Big stores and grocery stores accept it, IE Target, Walmart, Food 4 Less, Stater Bros etc
3) Stores offer discounts for using bitcoins (pass on some of the savings from credit card percentage charges to us)
4) People can take part of the their income in bitcoin (see https://bitpay.com/bitcoin-payroll-api)
1) coinkite has bitcoin debit-cards, maybe not thé killer app everyone is waiting for, but a step in the right direction
2) agreed, but i don't know what would trigger this event to happen
3) often happens, but they have to accept it first.
4) already happened
People will use bitcoin when the following conditions are met:
1) Apps make it VERY easy to buy/sell and trade
2) Big stores and grocery stores accept it, IE Target, Walmart, Food 4 Less, Stater Bros etc
3) Stores offer discounts for using bitcoins (pass on some of the savings from credit card percentage charges to us)
4) People can take part of the their income in bitcoin (see https://bitpay.com/bitcoin-payroll-api)
1) Apps make it VERY easy to buy/sell and trade
2) Big stores and grocery stores accept it, IE Target, Walmart, Food 4 Less, Stater Bros etc
3) Stores offer discounts for using bitcoins (pass on some of the savings from credit card percentage charges to us)
4) People can take part of the their income in bitcoin (see https://bitpay.com/bitcoin-payroll-api)
It's not only about feeling comfortable using bitcoin, they also need to see advantages about it.
Probably, bitcoin will start to be more popular in countries where there are capital controls and high inflation
Probably, bitcoin will start to be more popular in countries where there are capital controls and high inflation
When Bitcoin will make a big step into market, as more market will accept bitcoin as sooner It will be accepted by the world. But It wont replace FIAT any time soon, at least for another 20-30 years. There is no way everyone will be using bitcoins till FIAT exists and It's virtual currency so probably only people from 18 to 65 will feel comfortable to use It and older people just can't switch we need new generation for this.
I don't really spend much of my Bitcoin , because I am always in fear.
Don't hoard, if you can buy something with btc instead of cash use it, also if you offer a service demand payment in btc, try to make a all-around bitcoin cycle, hording just for the sake of it is not really helping Bitcoin. When there is a solution for a wallet that easy to use/maintain and hard to steal from.
For now I can not recommend any of my friends to save/use bitcoin, because showing them how to secure a wallet and use them properly is a "mission impossible" for non technical users.
For now I can not recommend any of my friends to save/use bitcoin, because showing them how to secure a wallet and use them properly is a "mission impossible" for non technical users.
If they can't be trusted to look after a Bitcoin wallet then they shouldn't be trusted to do online banking. A blockchain.info wallet is fairly simple and easy to use and is very safe as long as you set up all the security features. I recommend starting with it for newbs.
There is so much it can happen if you own a computer and have internet connection that the best advise is to not navigate the internet at all if you're so lazy not to take few diligent steps, but yes if they have a smartphone with the blockchain app their wallet will be pretty secure.
When there is a solution for a wallet that easy to use/maintain and hard to steal from.
For now I can not recommend any of my friends to save/use bitcoin, because showing them how to secure a wallet and use them properly is a "mission impossible" for non technical users.
For now I can not recommend any of my friends to save/use bitcoin, because showing them how to secure a wallet and use them properly is a "mission impossible" for non technical users.
Mycelium is pretty easy to use and safe enough for a hot wallet for non-technical people who use Android. I've had good experiences showing people that. You could assist your friends cold storing their BTC if they want to buy/hodl
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When there is a solution for a wallet that easy to use/maintain and hard to steal from.
For now I can not recommend any of my friends to save/use bitcoin, because showing them how to secure a wallet and use them properly is a "mission impossible" for non technical users.
For now I can not recommend any of my friends to save/use bitcoin, because showing them how to secure a wallet and use them properly is a "mission impossible" for non technical users.
If they can't be trusted to look after a Bitcoin wallet then they shouldn't be trusted to do online banking. A blockchain.info wallet is fairly simple and easy to use and is very safe as long as you set up all the security features. I recommend starting with it for newbs.
When there is a solution for a wallet that easy to use/maintain and hard to steal from.
For now I can not recommend any of my friends to save/use bitcoin, because showing them how to secure a wallet and use them properly is a "mission impossible" for non technical users.
For now I can not recommend any of my friends to save/use bitcoin, because showing them how to secure a wallet and use them properly is a "mission impossible" for non technical users.
I am under the impression that people tend to hoard more with BTC than with fiat , considering it an investment more than a currency
n or so.
n or so.
BTC is primarily the ultimate offshore banking and the killer app of asset protection, private transactions and private property. For everything else you can dump fiat.
I buy miners with BTC, so am hoping it's a virtuous circle
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