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Title: Obstacles to bitcoin adoption Post by: sdersdf3 on January 24, 2015, 01:28:53 PM The following comment makes a bunch of what seem like fair points about what's keeping crypto from being more widely adopted.
How would you address this criticism or how are developers planning to address these? --- http://www.coindesk.com/bill-gates-bitcoin-alone-wont-solve-global-payments-challenges/#comment-1812123320 "What advantages does Bitcoin (or any other crypto-currency) bring to consumers? I can use a credit card online / offline much easier and cheaper then I can BTC. With Bitcoin you have to go through the hassle of acquiring it (not to mention fees), then a couple cents to send it to the merchant (miner fee). The best part is waiting for the confirmations... My most recent BTC transaction took over an hour to receive a single confirmation. Say someone manages to steal my Bitcoins, or I accidentally send them to the wrong address. Oops, they are gone forever. So now I also have to worry about and spend the time to secure my funds. With a credit card I get paid to use it (through rewards points, not carrying a balance), if a thief manages to steal money from me I can dispute the charges and get my cash back. Transactions are instant and painless, no need to go through multiple steps. I have been with Bitcoin for nearly three years now, I actually understand how it works. Its not an efficient system. Look up Ripple if you want to see a system that could actually work in our society and not some fantasy land" ---- Title: Re: Obstacles to bitcoin adoption Post by: Meuh6879 on January 24, 2015, 01:34:21 PM obstacle ?
mentality. it's easier to move FIAT money to BTC exchange and buy BTC ... now. Title: Re: Obstacles to bitcoin adoption Post by: Q7 on January 24, 2015, 01:37:04 PM Use of credit card is not cheaper but instead is costlier. The fact that the selling price itself has already added with the fees the sellers need to pay for the payment levied by the credit card company. If we can change the merchant to use bitcoin instead, there won't be extra fee so essentially the seller does not need to add additional cost to the selling price which means it is cheaper.
Title: Re: Obstacles to bitcoin adoption Post by: gjgjg on January 24, 2015, 01:44:27 PM You expose your cc details through multiple middle men (or women) every transaction.
Btc doesn't require you to reveal any security details for a transaction. Title: Re: Obstacles to bitcoin adoption Post by: worldinacoin on January 24, 2015, 01:46:12 PM I think the greatest obstacle in the adoption of Bitcoin is the fact that Bitcoin knows no boundaries whereas there are different monetary laws and policies for different countries.
Title: Re: Obstacles to bitcoin adoption Post by: pooya87 on January 24, 2015, 02:39:45 PM for me the obstacle is the value of bitcoin.
if i put one dollar or any other kind of money in my wallet i can be sure to some extent that i can buy a cup of coffee for example after one week or so but with bitcoin if i put 0.005 BTC (0.005*200=1$) now i can not be sure that i can but same thing with it after a week it might worth 100$ or 0.01$ after a while Title: Re: Obstacles to bitcoin adoption Post by: gkv9 on January 24, 2015, 02:47:17 PM for me the obstacle is the value of bitcoin. if i put one dollar or any other kind of money in my wallet i can be sure to some extent that i can buy a cup of coffee for example after one week or so but with bitcoin if i put 0.005 BTC (0.005*200=1$) now i can not be sure that i can but same thing with it after a week it might worth 100$ or 0.01$ after a while I second that... Anyways, the most probable obstacle to adopting BTC is its security, which seems currently vulnerable as your address may get compromised if you add your private key to your wallet online... |