Topic: Will bitcoin trap more new user in coming years (Read 3054 times)

Any time government mentions bitcoin they indirectly get to inform the citizen. Actually I dont care if the govt gets that involve but how she plan to engage it. Starting with payment as salary to workers and encourage stores to accept it but every transaction fee and delay in delivery will discourage people. Except a reliable altcoin can be used.

Governments will become the biggest holders of bitcoin, and manipulate it like they do with gold.  A central bank can buy bitcoin or gold at ANY price: they print the money for it, buy it, and consider that they have printed only that amount of money they have an underlying asset against: the coins themselves.  Exactly as they do with gold.  Bitcoin will become the central banker's pump of value from "bitcoin investors" into their hands, exactly as they do with gold.
Moreover, with bitcoin, they know exactly where the coins are and can follow all transactions.

I wouldn't be surprised if the Chinese government is actually taking in most of the chinese exchange's wallets.  That's a big amount of bitcoin they'd offer themselves. 

I do not see government and agencies coming against Bitcoin because if they do, they had trackdown all nodes and shutdown any possible bitcoin operation like mining farm or store that accept bitcoin.  Government might be trying to regulate Bitcoin exchanges but there is no way this government is preventing people from mining or doing transaction with Bitcoin.  As for the adopters, it will always have new comers especially governments all over the world  are starting to recognize Bitcoin as legal tender or payment  one by one.

That's a good question!
Logic would say that yes because there is no reason for the number of btc users to decrease: no one using btc will stop using it as it's freaking special and useful
But I'd say there will be a real decrease on adoption rate!
Simply because btc first touched the most "geeky" part of the population which is also the easiest to convince about cryptos!

i think "trap" is not suitable word to be use for bitcoin. to me i think bitcoin will attract more and more uses to invest their money here, in fact bitcoin giving suc opportunities to its users to make more and more money .

Bitcoin as we all know will attract more users in the coming years even if government plans to go against it. Someday though I really do hope that government will accept bitcoin and make it a legal way to pay someone , like what credit card serves to many now. Many more users will be attracted to it if government accepted it I think and if they go against it, it's price might rise but there will be lesser people that will be attracted to it.

Yes definitely it will if you see the main direct rival of bitcoin is china. I don't about the Chinese as most of them seem so scared when they invest so when they hear so weird thing that it is risky they sell it. But around the world many countries are supporting bitcoins as I saw a news that dubai is investing in blockchain technology and more and more online businesses are adding bitcoin as payment method because of this more people can will be aware od bitcoins and slowly it will keep increasing.

what do you mean by organization?
things are all about adoption, and it is increasing every day. so it means more individuals are investing in bitcoin and becoming (share) holders of this very limited supply currency.
then there will be services and big businesses coming in offering their services in exchange for bitcoin. like what steam did.

Yup, definitely it will attract more and more people, investors and organizations into it regardless the price of 1 bitcoin.

Yes if you use purse.io there is no way your country of residence knows that your item was bought with bitcoin because not even amazon knows, since third party is the one buying with an amazon gift card and you are using another party to give to them your bitcoins.

The word "trap" is not really suitable for this one since bitcoin doesnt have any plans regarding on new users. Trap means theres a plan on something but seeing on bitcoin i could say that adoption for new users wouldnt be gone because people would really saw bitcoin as a good thing to engage and not to be avoided.

bitcoin has a very nice adoption growth so far, and it is still growing too. we can clearly see the increase in the adoption in the full blocks, and the number of transactions that are made every day with bitcoin, that shows there are lots more users using bitcoin for transferring money.

and this will continue since there is nothing stopping the adoption and growth of this decentralized money.

p.s. i still don't get why OP has not changed that stupid subject saying "Trap"

The government disapproval is the main reason why the user of bitcoin is only limited. Some countries didn't recognize bitcoin and some is banned it. This is the most factor that people are being discourage to use bitcoin as currency. I hope that the government will adapt so that it will be open to public

development of bitcoin users will certainly evolve at any time. Now even many users use bitcoin as its main means of payment. of course, the government still can not accept bitcoin, they are still frightened by fluctuations the price of bitcoin. but it all does not deter new users, bitcoin continues to grow very well.

Yeah we all know that day by day the number of bitcoin users increase and it is why the price of bitcoin keeps on growing,
And I think it is a good news for all of the bitcoin users cause the more the people accept it the more the other country and other store would accept bitcoin as mode of their payment.

Saying it that way makes it sound more like a curse if they want to try and use it.
A trap. Sort of like a bear trap?
That is what came to mind as soon I clicked on this thread expecting it to be talking about it.

I dont think so because most of the news right now that ive read and heard is lot of countries accepting the bitcoin as a payment sort of they recognize bitcoin as a money in their country and i havent heard it yet but we all know that there are one or more that is against with bitcoin but we cant control it well that is a challenge for the new user if they will proceed or not in using bitcoin

Yes, there will no surprises that the system which is capable of easing life will definitely attract more people to embrace it.

In this digital world, bitcoin must be a right solution for our financial freedom, so like how mobile technology and internet had conquered the world, we can expect bitcoin as the next thing to be part of human life in very near future.

I know right bitcoin isn't trapping anyone it can be people greed that is making that invest in it if you call it a trap. And also government can't do anything all they can do is ban sites like coinbase , xapo , etc or even block bitcoin exchangers like china is trying to do but they can't do anything unless they use other methods which are against human rights.

Will bitcoin trap more new user in coming years.

I don't like your choice of word Trap.

No matter what these governments do more people will come into Bitcoin, the world economy is weak and traditional economy can guarantee the usual profit, Gold price is manipulated by government and the only place sure of growth now especially for guys on the mainstreet is crypto where Bitcoin dominate 80% of the market

Of course it will, those governments agencies at best will slow down the adoption rate of bitcoin but as long as bitcoin fills a gap in the market of currencies then we will keep seeing people buying and adopting bitcoin thanks to its amazing characteristics.

Yeah, reading the details of the question, I agree that the OP got confused. It would be nice to see him update this, because it completely changes the meaning. With respect to attracting more users, this will depend on market conditions, and the conditions on the Bitcoin network itself, as users need a stable platform for making payments.

Why did you use trap in the title, and after I saw your post, it doest not mean trap, you should use attract instead.

Actually I am fully believing that bitcoin will surge in the future, we need to promote more bitcoin news and features to our friends and family, it is a kind of investment. Digital gold.

Is there even a way to tell whether item from Amazon was bought with bitcoin, bank transfer or paypal?
You won't see price tag on your package with price presented in Bitcoin. So unless authorities will go as far and check your online shopping history there is no way to tell.

they technically ban that too if they find out some goods are bought with bitcoin. but in the end people are just investing in bitcoin to be some part of this rise and have a big profit in the end of all this. and you can always buy with cash and hold in your cold storages without anybody even knowing.

see the bitcoin prices are quite high this year, even more stable, I think this will create new users interested in trying to use bitcoin. Well, every year bitcoin users continues to increase, but I am convinced that this year will be really a lot of new users who try to use bitcoin

I think it all depends on what way bitcoin evolves.
If the transaction fees increase, I don't think many new members can be won.
Everybody starts small in the beginning. And when new users have to spend a big part of the amount they want to transact for fees, I highly doubt they will do that often.
Transactions with bitcoins have to stay cheap and fast, otherwise people will stop using it. And that would be kind of... bad.

The title seems to suggest that bitcoin has some evil plan and wants to trap new users.

Bitcoin is in a very high place right now. It is very valuable but still has a lot of space to grow. Bitcoin is actually very attractive investment right now. So if more people are looking for good place to put their money, bitcoin is a good candidate. This will attract more users and maybe eventually trap them.

What I meant (as others pointed out) was that they surely can make it illegal locally. But you can still invest in bitcoin - for illegal and/or international purposes.

Bangladesh banned bitcoin - will they ban goods send through Amazon bought with bitcoin?
Just an example. Ofcourse can they make it difficult for local people, but that's not going to happen globally.

"Governments" isn't equal to a single entity hopefulyl, therefore what a government decide against bitcoin is irrelevant, it will only get banned there, this is why you can't do shit to bitcoin, unless all the government agree to ban bitcoin

and somethign is telling me that this will not happen ever, also notice how there are many illegal things in this world yet they are still "used", this enforce the fact that bitcoin is untouchable, in my case i would still use it if it was banned everywhere....

so far most governments of the first world countries not only not banned bitcoin but also they have legitimized it. and the only country that has banned bitcoin is Bangladesh and another one that i forgot, and that has not stopped their people to buy, sell, invest by holding bitcoin!

I think more people will be interested in Bitcoin as it gains value. And it obviously has value for a reason beyond the novelty of it now that it has survived several years. I think it will always hold some value and will probably just increase.

If theres an new users wo will use bitcoin for their business well for me bitcoin will be totally increase it self it because the volume will be increase again not because they bough it some said bitcoin is a big kind of ponzo scheme scam but if they know how to control or to earn from it they will enjoy using it like my friends who i invite already to use bitcoin as trading.

You said it as bitcoin was some kind of Ponzi scheme where old users need to invite new blood because network will collapse otherwise.
Bitcoin is not a trap for anyone, it is a choice, if you think it won't be good investing in BTC, then just buy and support it.
People are suddenly waking up when price is over $1000, saying  "but it is too much for me to buy" but it is only a beginning.
With limited number of coins, deflation will hit us, making our coins much more valuable.

Of course it isn't.

Bitcoin is the prototype for the coming global digital (and fully traceable) currency.

Current crypto are all pilot schemes. Takes a lot of test runs before you have the pragmatic know-how to implement the final solution.

Governments can ban Bitcoin that is true but that is not in their best interest and I beleive that most countries, at least the developed and prosperous ones, will not do that. Even in countries where Bitcoin will be baned people would not stop using it, like they don't stop with illegal activities, although they are baned. In fact some people would be attracted to Bitcoin just for the fact that it is baned.

What do you mean they 'can't ban it'?

All any government needs to do, is to make it illegal for any of it's citizens to transact in Bitcoin, and prohibit their financial system from servicing organisations who are involved in the exchange of Bitcoin to fiat currency. Sure, as with illegal drugs, the population will still be able to get access to Bitcoin should they really want it, but why would they want it if they are living in an economy in which Bitcoin was total taboo?

They hate (or dislike) it because they don't have control.

They can't ban it, and they know it. Because they aware of that, they are going to live with it, but don't know exactly how to deal with it.

They have laws about taxing/money laundring/etc. but it's very difficult for them to control it as they want it.

What are you talking about, govts hate bitcoin? Pretty sure if they did, they would ban it. They know about it, and they haven't banned it. That means that they don't hate it. What nations govt are you talking about any way?

When it was just beginning, Bitcoin was little more than just a speculative tool for intraday traders seeking a quick profit...
Therefore, like currency, Bitcoin had very little utility, except for purchases on the black market. Like making your rent payment in Yen (Japanese currency), the purchase of goods with bitcoin was something like that, something you wouldn't do. And, after many years of gradual acceptance, more and more people use Bitcoin for transactions in the real world every day. In January 2010, Bitcoin was less than 200 transactions a day. Today, the number of transactions in the digital currency more than 300,000 per day.

I can say that this is totally up to us, but the more people we talk about, the more it gets to the masses. In this way, people start to use and learn after learning it. It's early for this now, but most government units are now trying to bring some legal obligations for the bitcoin, which is causing people to be skeptical. But I think these temporary situations can never reach this way. As soon as I say, too many people will have heard of this crypto currency.

What could they do?
Speaking out bans? Worldwide? Not going to happen!
And even if they could take control over Bitcoin or destroy it, the technology is out of the bottle!
There will be other decentralized coins, with more privacy. The shift will happen, if the incumbents like it or not.
The harder they will try to control Bitcoin, the worse it will get for them.

So yes I believe Bitcoin will stay alive, without being controlled by the big bad guys.And as I said, there will be other choices, much more venomous than what BTC is!!

Venture Capital that comes into Bitcoin in a big way, are trapped in Bitcoin. But unlike back through 2012 - 2013, no real new significant wealth is coming into Bitcoin.

For example, how many Bitcoin is Tim Draper, the dude who 'won' the SR coins auction, sitting on? Around 50K BTC, which he bought at $800 a piece (averaged out). Right now, a specious argument could be made that Draper is up 30% or so on his investment, but how does Draper take some profits out of his pile, without tanking the market and depleting the value of his capital? Certainly if Draper wanted 100% out of Bitcoin, I would imagine that 50K of raw selling pressure (i.e. not traders swishing BTC back n forth trying to suck up Joe Public's money), 50K of sold BTC, that would not be buying back in at lower price point, and which would result in the creation of a whole new tranche of bagholders desperate to get out of their positionsm, would take back down to low-mid triple figures, and give big headaches to all the other Tim Drapers out there, who desperately need the nominal value of their holdings to remain high, not forgetting miners who need by now a steady stream of Bitcoin consumers willing to pay at least $450 just in order for them to cover thier costs.

Taking the Chinese bullshit volume out of the equation (although the China shenanigans does point out from exactly where this market is being driven), Bitcoin has been pushed up to near record highs on wafer thin volume, and that is not a sign of a strong healthy market.

I think Bitcoin will most likely pull back a significant amount from here, consolidate and build a platform for the next fabricated launch up to $1500+, So profits to be had aplenty, but Bitcoin is just not a very safe market to be playing in at all. Joe Public aint biting cos there just aren't any advantaged to Bitcoins over conventional cash, outwith it's use on darknet markets, due to it's anonymous nature, which it turns isn't that anonymous at all. Meanwhile, there are faster, more streamline, and genuinely anonymous alternatives which is already being accepted as payment on darknet markets waiting in line to replace Bitcoin in that essential sector.

Joe Public aint buying it, and because Bitcoin has become so dominated by China, Fresh western venture capital inflow has dried up. If there is to be another Bitcoin miracle (i.e. 1000%+ price increase in a very short space of time), the X Factor will have to come from China. It will most likely have something to do with Capital Flight, and if that were to be the case, the PBOC could just close Bitcoin down with a snap of their fingers. A sudden drop in 85% of the mining capacity combined with a huge market panic would end the Bitcoin story imo.

My sentiments exactly. Do I feel "trapped" because of all the money Bitcoin has earned me in the last 4 years? Hardly.

When I first saw this thread title, I thought it would be just another lame troll thread spamming FUD about ponzi schemes, bursting bubbles and prices plummeting to zero.

Then I realized that English is not the OP's native language and didn't understand what he was implying by using the word "trap".

He should have used the word "attract".

Sure it will "trap" more new users. That's one of the reasons price is going up: supply and demand.

And slowly there are more and more options to use it. There are more exchanges available, so it's easier to use it as in earlier days, and this is growing also.

The answer is clear if we based on the current situation today.

No doubt that more people will use this currency, not just with it's price but to test things that fiat transaction can't do. We already seen the progress of bitcoin users since the beginning and even with no live stats of the total bitcoin users, we can clerly that it's increasing day by day. Here in my sole area back then, Im the only who knows the idea of using bitcoin but now gained attention even not that much and other cases of it are being spread out of the country. Thanks also to our local exchanger for making this things possible.

Help! I'm trapped in a system of fair money that only I control! The value keeps going up and I can't stop it, help!
 

Bitcoin has already proven itself that it will be dominating the coming years.However,most of government in the world banned bitcoin and surely there have reliable reason.As a reaction government against bitcoin.Ultimately,nothing were effected popularity of bitcoins,it growing and growing day by day also many people evolve to use bitcoin-based payment.Where I have hardly believed that bitcoin will stay alive a long time,never will trap.

It is but natural for new people to discover Bitcoin and be attracted by its properties. It doesn't matter what various governments try to hinder its adoption. The march of progress cannot be stopped. 

Bitcoin doesn't still experienced those skyrocket price to be consider by others but look at how well it gained numbers of people continously using it day by day. It means that there is other reasons why people are using this currency aside from it's price. And as it's progress, new users are coming into the stats even by small percentage.

In more years to come, as long as bitcoin has value, there will be new people that will use this cryptocurrency.

Bitcoin isn't a trap, fiat is a trap.

A more relevant question will be, will more people become free of the fiat trap?

what the op is interpreting as agencies 'being against' bitcoin is in most cases being sensible and taking an actual position about its place in the world. if enough people get on board then they have to do something about letting them know where they stand.

That's everything I was thinking. I'll just second this.  
And what do you mean by "trapped". no one is trapped here, lol

I too believe that bitcoin will stay alive because people love this technology but government hates or they are against bitcoin and other such coins because its not totally legal as there is no central agency to control the flow of money. But very recently Our nation's government had alerted bitcoin user and told its user should use bitcoin with our own risk.

You know bitcoin is getting more popular now. The price of bitcoin attracts people. People love to get some profit. So we cant blame them that they joining or buying bitcoin. People dont want to miss this opportunity to earn and also experience bitcoin. I believe bitcoin could be more valuable than gold or anything valuble metals in the world in the future.

Of course bitcoin will stay alive. We undoubtedly need many more people investing to achieve any type of mainstream adoption though. Unfortunately the block size debate rumbles on & on but once it's been resolved we'll at least be ready & prepared for increased adoption.

can you explain to us how you concluded that there are more people joining bitcoin day by day?
what source did you use? because as far as i know to this day there is no way of measuring that. so i am interested to know what is your reason.

int is not "in spite of" it is "because of" price going up that more people always invest in bitcoin.

again i see another claim that is wrong and i am very interested to see what your source is on this one too.

it has stayed alive for 8 years and was growing with a pretty nice adoption rate (slow but still good) and there is no reason so far for this to change.

Well exactly. People say that it is different this time because of the infrastructure and people really using Bitcoin now.
Who actually uses Bitcoin as a currency though?  The biggest use was to buy drugs online, that might still be the main use, I don't know.

Next is gambling. What else? I mean there are lots of things you can use it for, but 99% of the time you can just use fiat instead and hold your Bitcoin instead.

It is being used as a commodity, I don't think it traps users, I think people hear about it, buy a small amount, maybe gamble it or sit on it, then forget about it or sell.  What else are they supposed to do with it!?

Yet USD exchange volumes are massively down, and now much of the smoke and mirrors of the Chinese exchanges have been taken away, volume/interest isn't much better over there either. Bitcoin may well go on to take out the ATH, but realise, this is highly cornered and manufactured market, controlled by a small cabal who are up to thier necks in the shit. Those who are most heavily invested in Bitcoin and have the most interest in ramping it, and keeping it above a certain level, are invested on sitting on a golden egg which may never hatch.

Bitcoin is a hugely risky investment, and at these prices, with not a whole lot of potential upside either when considering the risks involved......Bitcoin isn't Amazon stock.

A better value always make more people come in play to invest, it was the case with the first pump and dogecoin, there was a huge wave of newbie that helped that pump to increase very fast

i guess with the current value we have more users than before when bitcoin was at the $200 level, there was a nice chart showing a relation between adoption and value...

Bitcoin is the future currency and because of this, developed countries has not banned it. Like digital gold is very precious so is bitcoin, the beauty of it would not allow it to be trap. Currently bitcoin price is at $1020 and the price keep on going up, what this means is that the demand for bitcoin is higher than the supply for it and people are developed more trust on it than before. The beautiful things about bitcoin are these: Decentralization, low fees and security.

As of now bitcoin have been found attracting more and more users continuously. By the last year end bitcoin's market capital was found to reach high of all time. Op needs to Change the thread title that will bitcoin traps more users. Nothing is here to be trapped just need to get the attention of public to realize the importance of digitization and growth.

Yes it is! Bitcoin will invite more new users everyday because of the rapid price increase! One proof of it for me is the current unconfirmed blockchain transactions. The blockchain is having a slow response nowadays to that transactions because I think they cannot accommodate the increase in numbers of bitcoin users.

When you use the word <trap> you make it out as some scam, which it is not. Bitcoin is a legitimate commodity/currency and it is been used globally. Yes, it will attract more users and services that would accept it, because it is a very good alternative to other centralized payment options.

PayPal trap people, not Bitcoin. ^smile^

sometime I fear about bitcoin network against QUANTUM computing. Although is a concept right now  but 21st century's intelligent and techy people it's not very far awar. I think within 10 or 20 years that computer will come and could destroy the blockchain technology. I pray GOD for safety of bitcoin and other similar cryptocurrencies.

I am optimistic that next year bitcoin users will be growing. It was based on the growing popularity of bitcoin, bitcoin price increase promising for investments, and more and more sellers are using bitcoin. And it will allow users to spend their bitcoin easily, and certainly will attract others to use bitcoin. thank you

Whatever government agencies come against bitcoin, they could do nothing to ban bitcoin.More people are getting familiar with bitcoin in recent times.Since banking sectors, government organizations,medical sectors are trying to implement blockchain technology as it is safe,indirectly it has given a wide publicity to bitcoin.Some experts say that bitcoin price would cross $2000 by the end of 2017.Bitcoin will stay alive and we have to see whether bitcoin would escape from quantum computing in future.

Obviously it will. Day by day people are getting interested on bitocin. This is happening because bitcoin hold its place in top position. And its value over other currencies also attracts people who wants to earn something. Internet is reaching more and more people day by day. So this way of exchange will make things more easier to pay and get paid. So there is no option to decrease its user I think.

As I had encountered that day by day more people are joining bitcoin inspite of its sky rocketing price and day by day more and more government and other agencies are coming against bitcoin so will bitcoin stay alive and will it be able to invite new user in the network?