I've been a long time prowler on this site, so I know there are a lot of smart people here. I want to know, what would you do to bring more adoption of cryptocurrencies to the general public?
I'll kick it off. Once my store takes off, I would like to put myself into a position to organize a Blockchain-themed music festival. Target the more active youth, you know? I would have a "bazaar" area with trendy brands that strictly accept cryptocurrency, and kiosks with representatives from exciting new Blockchain projects to spread awareness.
I will add a "Information" desk with trained people to assist new people to signup at local exchanges or arrange with a local exchange to rent a kiosk to assist with these new signups. I will also get one of the Bitcoin ATM manufacturers to sponsor a Bitcoin ATM for the event to offer people the opportunity to buy some bitcoins at the event. Great idea, hope you pull it off.  |
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I think I have read somewhere that they are reversing that decision, because they admitted that they made that decision before they did enough research on the subject. They are now doing some further research into the technology and they might consider lifting the ban, after they completed the investigation. I will look for the article and edit this post if I find it or someone else can post it, if they find it first.  |
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2. The other side of the room said it was better to rent a smaller property and to invest the "savings" into something like Bitcoin, because your profit will pay for a bigger deposit or even a whole property in a few years time.
I like that one more. The thing with Bitcoin and it's massive long term potential is that everything of traditional nature is a waste of time in my opinion. I was seriously considering to convert a chunk of my savings to Gold last year, and then I asked myself why would I do that? Gold won't show any big movements in the forthcoming years, is damn difficult to sell, is damn difficult to spend, etc. Instead, I used the allocated capital to buy even more Bitcoin, and it worked out extremely well. As long as Bitcoin's potential hasn't been catched up on, I don't see the point of investing in anything else, unless it turns out to be an actually great opportunity. People are brainwashed to think that real estate is the right way to go, where they completely disregard the fact that parking capital in real estate means you are missing out on everything that's happening in the flashy tech space. Investing in stocks would have been a great option too for people not interested in crypto. Facebook, Google, Microsoft, Amazon, Apple, Tesla; they have done exceptionally well and outperformed the rest of the traditional market. And btw, thanks for the threads, it's a welcome change with 99% rubbish in this section of the forum. If I had a sMerit left I would have given it to you. Yes, the point of the thread was to get people to think outside of the box and not to follow like sheep. Satoshi developed Bitcoin, because he wanted something that was not the norm and look how this turned out. I am not saying that people should spend all their money on Bitcoin, because that would be stupid. I am saying that people should consider if property investment is really such a good investment, if you take all factors into consideration. This is specifically targeted at the young people who wants to buy that big house or the investor that wants to invest in a second or third property.  |
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To be honest, the answer to this question is subjective and thus will differ from person to person. Each and every investment has its own pros and cons, every investment has its own risk level. Let's be honest, when it comes to the cryptocurrencies it is something that has the highest risk at this point but on the other hand, there is a probability of getting exponential returns that property might not give even in next hundred years. Personally, I would go with diversification method as far as I can afford the investment in property without taking a loan at a high-interest rate.
Very good answer. The thing is, we have been taught that "property" is a good investment and we seldom question that. Most financial advisors will tell you that property is a good investment, but they never tell you that buying that property with debt, might be a bad investment. Property investment also have risks : ~ Natural disasters ~ Your neighbour might do something that might devalue your property. ~ Poor workmanship will increase your maintenance cost. ~ Damage to your property. <Vandalism> ~ Environmental damage <Rust & decay & animals> ~ Political instability <Wars> ~ Over spending on upgrades You will never know what will happen with your 20 year investment in property in the future, so it is just as risky as a Bitcoin investment. <Ok, a bit less> |
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Totally agree with @Kakamakr
With other words, i am against hodl'ers, by bitcoin definition title " Bitcoin:A Peer-to-Peer Electronic Cash System " not a peer-to-store of value
I understand what you are trying to say but your logic is flawed. Bitcoin is a cash system and it is cash but it also has limited supply which makes it a store of value. If you knew your FIAT money was going to gain value every day, every month without stopping would you spend it? If you knew that $50k would buy you 2 houses next year while it is not enough to buy 1 house today? (You can replace FIAT with gold, btc, ltc, doge or anything. The answer will be the same) If you say "yes" to this question then you must be retarded. Bitcoin is just like that. People know that it is going to go up so they don't want to spend it. Any one says the otherwise is a liar. Buyers shouldn't convince the sellers. It is the sellers who must insist on taking bitcoins as a payment. Read my first message at the beginning of this topic. This is how you raise awareness. If you are not a seller or a business owner there isn't much you can make about it. A btc user/hodler should only think about raising his bitcoin amounts just like the seller should. And the seller has an advantage in this situation. If the seller accepts only bitcoin, then the buyer will have no choice but hand over his precious bitcoins to the seller. When the buyer spends his bitcoins, he is going to buy more to fill up his stash again. TLDR; you are asking the wrong question. The question should be:
"How many customers have you convinced to spend their bitcoins?"No, the question is specifically targeted to the Merchants for a reason. No matter how long you hoard or how many coins you buy, it eventually needs a Merchant network for you to spend it. A lot of us do not want to continuously convert to fiat currencies to spend our bitcoins. The merchants accepting Bitcoin as a payment option is very important, if you look at the bigger picture. < A picture, where fiat currencies are replaced by Bitcoin > Once we create the "use case" and the alternative option, then people will have a choice. A few years ago, this choice became very important, because governments applied pressure to payment companies, to stop payments to sites like WikiLeaks and BackPage and Bitcoin was there to help these people, by offering them a alternative to these payment options. Do you see the bigger picture now? |
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TheQuin, why feed the troll?  He is just promoting his forum signature. Yeah, I know, but it's important to point it out when he tells lies or just says things that are factually incorrect. He doesn't have the normal decency to go back and edit his mistakes using strikethrough and adding a correction. Like when he lied completely about the provably fair mechanism in our lottery. So I'll just keep pointing out that he's been wrong about almost everything he has said. Your approach is good. It is better to respond and to counter arguments like that with the correct facts, than to leave it out there for people to receive the wrong information. This is what happened to Bitcasino.io thread. A troll has made the thread unmanageable and unpleasant for the rest of the people and they had to open a new "self-moderating" thread to stop that. Their mistake was not to counter the trolls arguments, so now it looks like they are a bunch of scammers. <They might be, but they could have handled it in another way>  TheQuin is doing a fine job, countering the trolls posts.  |
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--snip-- Yea, the figures I used was just a thumb suck scenario and probably grossly exaggerated. Most people are not as lucky as you to deduct your home loan payments for tax purposes. You from Europe? / UK / USA / Asia / Africa? Based on last years growth of over 800% in one year from my Bitcoin investment, I would have been able to buy that house from the profit I made in 1 year. <I agree that last year was probably a fluke and that we might never see that again, but what if we do?> Some people are even saying that it would be better to save that money in a Bank at a fixed interest rate. I'm from the EU... And yeah, i do realise i'm pretty lucky i can deduct my intrest from my taxes In the end, for me it's pretty simple: i have a kid, it's my duty to make sure she has a roof over her head, food on her plate, gets a good education, can go to a doctor when she's ill... I realise that if i'd invested all my money into crypto when i first heared about it, i would have been rich by now, but like NeuroticFish said: it's a high risk investment, and i don't gamble with the health or happiness of my kid. If i'd invested everything into crypto, i could have lost everything, and by now i could have been living in a social housing block. I realise that i missed out on really big profits, but at least my kid will have a house when i'm gone Ok, you are falling in the 90%+ category of people who are old school. The younger generation are not thinking about these things, like we do. My cousin started working a few years ago and he has no debt. He saves up all his money to travel the world for a month, every year. He makes use of public transport and rent a small 1 bedroom apartment. We were told to acquire assets from a very early age, to live like kings when we are old. So the way people approach live is different and the younger generation still have time to take on high risk investments. |
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We had a very interesting discussion over the weekend and people debated if it was better to invest in property or to invest in Bitcoin. The argument was as follows : 1. Most people cannot afford to buy property, so they take a home loan at a Bank. The home loan is paid back with interest and some of these loans are spread out over 20 years to make it affordable to the person who takes out the loan. So, over that 20 years the house of $100 000 will cost you say $1 000 000. {$900 000 paid in interest} The argument is also that the property has to increase in value, with more than $900 000 for you to say that it was a good investment AND you have to sell that property to get that profit. 2. The other side of the room said it was better to rent a smaller property and to invest the "savings" into something like Bitcoin, because your profit will pay for a bigger deposit or even a whole property in a few years time. I think paying a high interest rate to a Bank is just as bad as paying rent to a Landlord, because you are getting screwed in both these circumstances.  Well, if you'd pay $900.000 intrest on a $100.000 loan over 20 years, you should switch banks immediately I took a loan of €150.000 over 20 years when i bought my house 10 years ago, in the end i'll have to pay about €40.000 intrest, but i can deduct this intrest from my taxes, so in the end i'll pay about €20.000 out of pocket to loan €150.000 for 20 years (this are approximate numbers). I'm a big fan of crypto, but i'd personally rather have a house to live in than a big fat crypto wallet... I guess i'm to oldfashioned I do realise i can get a lot more profit when i would have invested all my money into crypto, but you can't live in your wallet... Yea, the figures I used was just a thumb suck scenario and probably grossly exaggerated. Most people are not as lucky as you to deduct your home loan payments for tax purposes. You from Europe? / UK / USA / Asia / Africa? Based on last years growth of over 800% in one year from my Bitcoin investment, I would have been able to buy that house from the profit I made in 1 year. <I agree that last year was probably a fluke and that we might never see that again, but what if we do?> Some people are even saying that it would be better to save that money in a Bank at a fixed interest rate. We all want to live in big houses that we cannot afford. We are all Bitcoin enthusiasts here, however, Bitcoin is, let's face it, a high risk investment. If you bought Bitcoin at 200$ (or 2$!) and sold at 19000$, the road to "big house" is easy. But most don't do that, exactly because they don't afford to do that. And if you have to watch your investment scared that you may be losing money, like many who bought at 12k-19k last December, then you better stick on smaller goals. The best approach imho is to achieve something stable you can afford with the traditional way, even a loan in the bank, and invest only some surplus "you can afford to lose" into crypto. Of course, the bank loan doesn't have to be too big and nearly impossible to be paid. And then, whenever the crypto currencies grow big enough for your needs, you can pay the loan. This may happen in a year, or 10, or not at all. If the loan is paid with the help of crypto, then you can dream for something even bigger. One step at a time. Their argument is, rent a smaller and more affordable property at a lower monthly rent as what you would have paid on a big house and invest the "savings" into high risk investments like Bitcoin. <My counter argument was, buy a smaller property and do the same with the savings.> They countered that with the argument that the home owner still have to pay for the maintenance of the property, so owning a house and paying a Bond was a stupid idea. |
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Actually no because hack or scam are always possible here in crypto so that's why i always activate 2fa and my password have number with big letters then long for much better although this is very risky i think to avoid or we can low the chance of hack or scam another thing i'm ready or i can accept if this happen to me then i will start again after that because that's all i can despite all this hack or scam still trading site here in crypto is so reliable we can still trust them with our money
Your password means nothing, if the gatekeepers <exchanges> have full access to the private keys of your coins. The key thing is the private keys and who has "administration" rights to the software/database that are run on these exchanges. These centralized organizations have several weak links and "bad" employees are just one of them. If the developers of the software that are used on these exchanges are "corrupt" or the code being used is "weak", then your bitcoin is very vulnerable. You will never know if it is, because most of the software is not Opensource or people do not have the IT knowledge to know if it is good or bad. |
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We had a very interesting discussion over the weekend and people debated if it was better to invest in property or to invest in Bitcoin. The argument was as follows : 1. Most people cannot afford to buy property, so they take a home loan at a Bank. The home loan is paid back with interest and some of these loans are spread out over 20 years to make it affordable to the person who takes out the loan. So, over that 20 years the house of $100 000 will cost you say $1 000 000. {$900 000 paid in interest} The argument is also that the property has to increase in value, with more than $900 000 for you to say that it was a good investment AND you have to sell that property to get that profit. 2. The other side of the room said it was better to rent a smaller property and to invest the "savings" into something like Bitcoin, because your profit will pay for a bigger deposit or even a whole property in a few years time. I think paying a high interest rate to a Bank is just as bad as paying rent to a Landlord, because you are getting screwed in both these circumstances. We all want to live in big houses that we cannot afford. |
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Magnificent how a whale can change your life, if you have one as a referral. The User 712628 is one of User 654092's referrals, because the wager amount is exactly the same. So if this was the same user with 2 accounts that are linked by the referral system, then he/she is winning both the competition prizes. $10 000 for the Wagering Contest and $5000 for the Referral Contest. Funny thing is, he or she still get the 0.40% referral commission from the referral system too. <roughly $2000> on that amount.  Those accounts are old ones as well. I doubt this is the first time this whale a made big bets. They haven't stopped either as that wagered amount keeps rising. Maybe they are going for a free iPhone 7 Plus as well. They've already earned 13,466,800 Reward Points so far. Edit: I forgot that it's the weekend so there are 3x reward points, they're probably there by now. It will be interesting to know how much that person has lost to gain these bonuses and prizes? He or she is obviously not using all of his or her own money to do this and probably have a huge referral network. Some of these guys are also gambling with their 4% interest on that big deposit. <This might explain why the wagering is not stopping, because the money is continuously coming in from the referrals and the interest on their balance.> Still mind blowing when you look at the numbers. |
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Magnificent how a whale can change your life, if you have one as a referral. The User 712628 is one of User 654092's referrals, because the wager amount is exactly the same. So if this was the same user with 2 accounts that are linked by the referral system, then he/she is winning both the competition prizes. $10 000 for the Wagering Contest and $5000 for the Referral Contest. Funny thing is, he or she still get the 0.40% referral commission from the referral system too. <roughly $2000> on that amount. |
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I want to agree with him on one thing and that is that regulation is always a few years behind new innovative technologies and Bitcoin is one of them. It is difficult for companies to ignore the lack of regulations and to continue accepting Bitcoin as a currency, because they would be moving in a grey area and even possibly breaking the law, by doing that. Once Bitcoin is clearly defined by these regulations, we should see a a increase in adoption. |
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Something that I like to do, is to target merchants where I know people will spend bitcoins and where the merchant is technology related. They also must have a website, because that opens up a world of opportunities. The little Coffee shop around the corner will not get enough "Bitcoin" business, if there are not a lot of Bitcoiners in the area, so it is useless to target them. My most successful attempts was "technology" companies and Guesthouses. ^smile^ |
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Why should i use bitcoin for payment? I do not think it will let me earn more dumping more bitcoins. As we all know dumping more bitcoins means losing some of your money and it could be difficult to dump more bitcoin especially if market price is low that means you will going to lose more bitcoins in the process of payment.
This is the type of comments that are keeping me up at night. If Bitcoin stagnates and primarily become a Store of Value, then we will all suffer, when we want to spend it. The main goal must be to be able to spend your bitcoins eventually, not to convert it to fiat. The short sighted views like this will keep us in the fiat chains, forever. The ultimate solution for Bitcoin was the fact that you could pay someone directly with bitcoins, without having to use fiat currencies or having to rely on third party services to do that. Now, people only see Bitcoin as a Store of Value and a commodity and they are blinded by their greed to constantly make profits on their investment in Bitcoin. These third party services also add fees for this service and this makes Bitcoin transactions more expensive. This is destroying the advantages that Bitcoin has over other payment options.  <They even destroy it's pseudo anonymity, because you have to identify yourself with all these KYC/AML nonsense.> |
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What a joke. All merchants stopped. Taking bitcoin in common business is dumb. That is a failed notion. It stopped about 3 years ago. Blockstream WANTED it to stop. And stopped it did.
I should have made this a self-moderated thread. The Trolls are out again. Oh, well... we might as well promote freedom of speech to them too or they will run to Roger Ver and Cry me a river because this forum is supposed to be censored. In my opinion merchants stopped accepting Bitcoin, because a lot of users stopped spending it. Last year, the price went to $19 000+ and everyone was spending coins, but now the price took a 70% nose dive and everyone is hoarding. If this continue, more merchants will have no incentive to continue supporting it. This is why I am a strong supporter of the strategy to Hoard 80% and spend 20% of all the coins you buy. This way, merchants will continue supporting it and Bitcoin will once again rise up from the ashes. |
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Glad to see you are back with quick support and good promotions. A bit disappointed that you are running a self-moderation thread, because this is a immediate red flag for most users on this forum. In any way, we asked for better support and you delivered, which is a good step in the right direction. Thank you for that. So when will we see some more "Holiday" promotions? <With no wager requirements?> Those was some good times. Glad to hear that! Unfortunately we felt that we were forced to have a self-moderated thread - not the optimal situation of course. Otherwise this thread would be also filled with off-topic talk and a one broken record. We can assure you and everyone else, that we are not here to block people with complaints, negative feedback or general talk about our brand. At the end we want to learn from that and improve our services for you guys. Some forum only promotions are coming in the near future Since we got into promotions: Currently there's a free spin giveaway on our Facebook page Cheers, Bitcasino.ioDefinitely understand that you needed to do that, but it would have been nice if you offered your side of the story to balance out the arguments and complaints that were highlighted in the previous thread. In any way, enough of that, let's focus on the positive stuff. Great news to hear that you would be bringing the forum promotions back, because that was FUN! The Treasure Hunt promotions was the best. |
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The Golden Rule : Do not cheat and scam people out of money and do not abuse the forum for your own gain. See the people on this forum as your family members and deal with them as you would with your closest relatives. We are a community of people with the same interest, which is Bitcoin. Once you put your own interest over the interest of the community, it would eventually end up in a ban. Some transgressions will be frowned on, but you will not be punished. Just take some time and read the rules as provided by previous posters and also get a feel for the "informal" rules by reading previous threads in the scam accusation section and the Meta sections. Good luck.. |
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When it was announced that the Silkroad coins would be sold on auction a few years ago, the price dropped a little. This is a clear indication that the market reacts on news like this. So I presume that the mere movement of 1 coin from the Million coins that Satoshi mined, would send the market into a Selling frenzy and this will push down the price. There are so many trigger happy speculators in the Bitcoin market these days, that a event like this will spark a massive dump of coins onto the market. I will be one of the people who would be waiting with open arms, to collect all these cheap coins. If I had access to only one of Satoshi's private keys, I would sell 1 coin immediately to flush out all these speculators that are manipulating the Bitcoin market price. Maybe you could earn coins without selling any of the million. I.E. I won't sell any of the coins if I get a total of 1 BTC to my address monthly . And everyone is really too trigger happy, I'd be the same if actively trading which is why I don't look at the exchange rates. I doubt it'll fall below $1k per Bitcoin anyway at the moment. Agreed. I would rather dump some coins that nobody can link back to me on some service that gives interest on Bitcoin deposits and live off the interest that I receive from that. < I currently receive interest at AsMoney & Freebitco.in on some of my bitcoins > Some of these sites gives like 4% interest on your deposits, so you can live comfortably off the interest of 100 or so bitcoins. Satoshi have enough IT skills to work anonymously in any way, so he might be getting money from freelance work. |
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It's not a matter of starting or not, but it's about permission issues. My country has not granted permission to use bitcoin as a medium of exchange. If I get caught violating the permit then I will be punished.
Ah, that is a very valid point. Thank you for mentioning that, because it is very important that you do your homework before you do this. The local laws and regulations is very important and if Bitcoin is banned or restricted in any way, then merchants will be reluctant to accept Bitcoin as a payment option. I made sure that I did that research before I approached them, because I have to answer their questions. <Taxes is also an issue> There is no harm in asking though and if they do not want to accept it directly, then they can work through Payment processors that convert bitcoins received to fiat currencies. <This is not ideal, but it works for most of them and it still creates an demand for Bitcoin> |
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