Topic: Why consumers are not adopting BTC - page 7. (Read 7300 times)

because the price is not stable enough, look at the recent dump, bitcoin still need many years to become mainstream, probably after two-tree halving of the block reward

The price exploded down actually. And some weeks later went up to $1000.

This ^.

For ordinary, every day transactions, there is obviously a benefit to the merchant, and no real downside (since they typically don't actually get exposed to bitcoin even if they accept it).  For a consumer though, there is no benefit, and a number of downsides, so why do it?

It certainly did capture the public's imagination. I remember when it broke in the media a lot of new accounts streamed in. But someone here tried to study the scale of SR in the bitcoin economy and came up with about 1%. I don't know how good their methodology was, but that was their finding.

Then when the FBI took down Ross and the first SR site, the price exploded up.  
I know I have never used their services and I have spent a lot of bitcoins over the years.

I'm still unclear on Circle.Do they solve the whole bitcoin being more expensive than fiat part?

If yes, then one issue solved.If not, well....

I would argue consumer acceptance is more important and that is still very weak and will continue to be weak unless the current issues are resolved.

Oh - and as well as mobile payments, Circle issues a debit card.

Why use £/$ ?

Cos you want to show loyalty to the Fed/Bank of England ? To show your appreciation of credit fuelled recessions ? I dunno 

merchant acceptance is still quite low. It can grow ten fold easily.

The exact same reason why ordinary people aren't interested in adopting bitcoin, despite the merchant acceptance.

It was actually a major fraction in terms of dollar equivalent used through the site back then.

My wages are paid directly into (for eg) Circle - Amazon, Tesco, Ebay and my local BP garage (petrol/derv) start accepting BTC.

These aren't huge leaps.

And when (not if) this occurs, then the writing is on the wall for fiat. The question would very quickly become - why transact in fiat ?



Its so close I could almost reach out and touch it  

THIS. Ive made some decent BTC with roulette, blackjack and sports betting.

Not to mention the 'provably fair' aspect of BTC gaming. That alone will change the entire online gambling community and thus the adoption of bitcoins in the process.

It seems to me all this talk of "value" is just speculative investment talk.This drive for bubble and crash isn't really healthy for mainstream acceptance.

YEP. Investment firms are doing this all day long. Buy at $400, sell at $500. You cant get BTC on LocalBitcoins for spot price either.

I might be interested in buying your car for BTC, if you are going to Inside Bitcoins LV, I could meet you there for the transaction. You must have used your BTC for SR purposes because you keep mentioning it over and over and over, yet you have never mentioned 70% of BTC movement thats happening over in China.

As Ive stated elsewhere, since we live in first world countries, maybe we dont see the true value of BTC yet as others might see in Africa, Romania, Ukraine or other emerging economies. * As an example I am sending relatives in Ukraine bitcoin so they can barter and get the goods they need. The Hryvna is losing value and bitcoin is a premium there since its easy to transfer from person to person, especially when banks there are many times closed, bombed out, etc.

Ive sat on several private calls with banks and large accounting firms and they have all said bitcoin will rise because it is so disruptive to the status quo. I can send $10 million within minutes, anonymously, paying what... 12 cents? You dont see any value in that??? Come on.

A friend of mine purchased a small place outside of Florence, IT earlier this year all with BTC. No government, etc saw that transaction. Theres no way he could have moved gold bars on a plane or used a credit card. Credit cards are total shit. BTC is already better. Whenever I go to Brooks Brothers to buy a new suit or pick up a Canali suit at Nordstrom my credit card gets put on hold and we have to spend the next 10 minutes talking to my card company making sure Im the guy making the purchase and I KNOW the people working in the stores. I have a high income, I have an almost perfect FICO credit score, I own a large home and there is two decades worth of my historical footprint of my credit card purchases at high end places like Rolex and Panerai stores in Beverly Hills, and yet I still have problems making purchases with my credit card.

Lets be honest, we all know you are trying to get BTC sub $300 so you can pour more money in. And so will I.

Correction, Americans are broke. The corporations have moved their factories overseas, and with it they've taken most of the jobs supporting our once thriving middle class.

In the next phase, they will take the services industry. This has already begun, and the problem will be exacerbated by mass-automation, meaning robotics - take a look at what Google has been buying (spoiler: over a dozen robotics firms).

What America is experiencing is a process referred academically as "economic inversion". It's America shifting from a first world country to... god knows what kind of hellhole America will be when every major metropolis goes the way of Detroit...

Trolling or not the OP does raise some valid points about retail consumer adoption.

Currently they is no tangible benefit  for retail consumers to adopt bitcoin. Not cost benefit(bitcoin isn't really cheaper), time saving( transaction confirmation ) time nor is it hassle free( still not quite user friendly).

Why don't you cite some charts, stats, information about all of your 'thoughts'.  Otherwise you are just rambling. 

The current exchanges are good for small to moderate amounts of money.
After the Gox crimes, some people will gladly pay a premium price to avoid sending money to possibly dangerous exchanges.