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In different countries in the world we have different standard what is ''rich'' man.
I don't think that is possible that each person in the world become rich or each bitcoin user become reach.
This will never happen.
If UN statistic is correct, 1 % of world population owns 99% of the world's wealth.
I think that this answer your question.
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First of all I would like to start this off by stating that I am a believer in the possibility of the success of Bitcoin. This may seem like a contradiction with the title of the thread but it is not. This is because the possibility of success is very low due to the reasons which I am going to describe.
The success of bitcoin do not depend on the price of bitcoin. It can be successful when price is $100 or $1000 per piece, the key element is price stability. I think that this is the best argument in this discussion. Only way for BTC to succeed is if users have the confidence in its future and stability. If that trust is absent, BTC have no future and no chance to succeed. |
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Anyone ever got the feeling that Bitcoin is too complex for the average person? The average person wants things as simple as possible, so when the word, Blockchain, Decentralization, etc, come into play, I feel that makes it too complicated for the average person to understand or even care.
maybe the main thing about bitcoin, how it works, blockchain and also downloading the 30 GB of data for a wallet! is kind of complex, i agree. but i think if we want to make it simpler there should be legit, secure and trustworthy services like online wallets namely blockchain.info, coinbase, xapo and so on so people can just buy and use bitcoin with simple clicks and fast I think that average person on Internet don't have problem understanding the words Blockchain, Decentralization, etc. If they want, they can find out in 5 minutes. Much more serious issues for average person is question about instability of BTC, its value, price going up and down all the time... Old users can see it as good opportunity to earn good money on BTC but this can scare average because they don't understand nature of BTC. |
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I think that answer is very simple.
- More users
- More merchants accepting Bitcoin.
Without this, BTC will never become mainstream.
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First of all I would like to start this off by stating that I am a believer in the possibility of the success of Bitcoin. This may seem like a contradiction with the title of the thread but it is not. This is because the possibility of success is very low due to the reasons which I am going to describe.
The success of bitcoin do not depend on the price of bitcoin. It can be successful when price is $100 or $1000 per piece, the key element is price stability. I don't agree with you. For many people BTC is just another investment and if they see just falling prices of bitcoin for long time, they will give up from it and move to other ''big'' opportunities out there. Without many users bitcoin will never become attractive for ''big'' merchants and eventually other virtual currencies will replace BTC. |
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Are they going to ban cars too because bad drivers run people over with cars? This principle can apply everywhere. Bitcoin is NOT designed to be used in any ponzi/pyramid scheme. Hell you could pyramid scheme with lollies, clothes, jewels, anything you like. Bitcoin was just the selected commodity this time round.
I agree with you but unfortunately people in power, authorities, don't use this logic. They act thinking what decision will please most their supporters, people around them, business groups which support their political campaigns... I don't see good outcome for BTC here. |
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Afterlife is another life, it's simple like that  Nothing really change much, just you move from one dimension to another (spiritual world), according to your level of hearth. If you was selfish in this world, you will naturally join such people in sp. world. If you was killer, you will join them and if you was good person on the earth, you will leave with good people over there. |
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I care I'm earning my bitcoin and after that I cash out my bitcoin balance to my bank account through paypal. This money really helps me each month so I'm very concerned about bitcoin price. Probably you should consider keeping a small portion (which you can afford) and leave it as it is without ever looking at the price. Who knows what the future holds some day. If by any chance it does grow big some day, bitcoin is not going to be cheap anymore and by then, at least you will have some sizeable stash along with you. You are probably right but right now I have no choice but to cash out my bitcoin for real money. I will try to change this strategy soon and keep some amount for later. |
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I think that many people are curious to find answer for this question.
If I will be Satoshi, I will choose to remain in anonymity for many different reasons, security, possible legal action etc.
I think we will never reveal his identity (if Satoshi is smart enough) so all this questions about him will remain unanswered.
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When? If I remember well 2 years ago. Why? Simple I believed in the bright future of BTC and that this was very good investment for me. Still feel the same |
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If I will have available money right now, I will buy bitcoin. When price is low, it's the best time for buying, not selling. Buy cheap and sell high |
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Burn 5 xxx-notes at home, catch it on video, and get 1000 fiat-burn-coins!Aahahhahahahahaaahah!!! I would die, due to an extreme laughing flash..  Even if you are done burning all the paper money, there will be even more that gets printed to replace the one getting lost. And no matter how much that gets burned or thrown away forever, there will be even more around. So How much more can you actually afford to get all the paper money to do for the film stunt. Very well said. Central banks in each country can publish as much money as they decide, there is no limitations here. Only question in this process is what is the real value of this money. |
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I care I'm earning my bitcoin and after that I cash out my bitcoin balance to my bank account through paypal. This money really helps me each month so I'm very concerned about bitcoin price. |
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Based on my experience until now, I think that Average Age for Bitcoin users is between 16-25 years.
I'm in older group and would like to see more people from my age group using bitcoin, people with stable jobs and business, who can contribute more to bitcoin.
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Probably not much for now. Else you should see the price going up. I think the effect would be more profound towards long term because if you have a company successfully integrating bitcoin to their payment system, you will see others which will follow suit and if that expands into every company accepting bitcoin, there will be quite a demand for it. I agree with you. One single company as Dell is not enough to change the negative trend right now, bit more such '' big'' companies over period of time can help bitcoin. Many bitcoin users right now don't see ''big picture'' and reacting in fear, selling BTC in panic. For such people, one ''positive'' news like this will not help much but more such positive news can help to change thinking of people, so that they recover their confidence in BTC. |
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Bitcoin's value needs to be compared to complete financial networks. Whatever it's current price is, reflects that value plus or minus any irrationality in the markets. The wisdom of crowds is a very relevant factor in determining correct value:  ...And gives credence to this: Until there is a fundamental problem with the technology or protocol I'm sticking with bitcoin. Price movement alone is not a reason to give up on technology that solves real problems - international transactions and ending chargebacks. Though I agree, if you speculated, it can be wise to get out with something.
Good Luck!
https://www.youtube.com/watch?v=WdrSP0V-KLg Very well explained. Unfortunately, it seems that people usually don't think rationally when they making decisions about investments, shares, finances but very emotionally. Value of bitcoin went down mostly because people reacting in fear and selling their bitcoin in panic. when this panic mode is over and more ''big'' merchanzs accept bitcoin, value of bitcoin will increase again. No, bitcoin will not be over soon, I don't think so. |
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Right now, there is no much places where I can use BTC.
So, when I earn some bitcoin, I cash out it through paypal directly to my bank account.
It will be great if I could use my bitcoin funds for buying different digital products or services in my country, but still this is not the case.
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Anyone ever got the feeling that Bitcoin is too complex for the average person? The average person wants things as simple as possible, so when the word, Blockchain, Decentralization, etc, come into play, I feel that makes it too complicated for the average person to understand or even care.
If everything gets fixed and fully implemented, the average person won't even have to worry. It'll be as seamless as using a debit card. Paper wallets, on the other hand, I foresee a lot of people possibly hording in the future like bearer bonds. It's just an added feature to create value. But what's cool is if you ever decide to use paper wallets, it's as easy as taking it to the merchant and scanning the code, whereas consuming bearer bonds require a lengthy process. Yeah, I'd say it's pretty well thought-out. Yes, I agree with this. We just need more merchants to accept BTC, because right now average person can't spend his bitcoin funds in to many places on Internet. We want public to use bitcoin for buying and selling digital products, not like investment. |
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Interesting view points on this thread. I was always on the thought that of course every sex, race, and anything else uses technology and Bitcoin. I am sure there are more dominate uses for men than women in Bitcoin but it would be interesting to see how much that gap is.
this was studied twice that i know of. in 2011 it was 96% male, in 2013 it dropped to 92% male. source = i don't remember. This studies may be true. My wife never used BTC. Other women around me also, so this can prove statistic above that probably only 4 or 8 % of women using BTC. More interesting research will be to discover what is the reason for it. |
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I agree that gaming can help bitcoin.
We have everything this ''gaming'' people wants: fast and easy money transfer, security and anonymity.
This can be very good niche for BTC.
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