I love the IDEA of bitcoin... in practice NOT SO MUCH

[nycbitcoiner]

I really like the idea of online currency but I wonder if the perceived value is only due to the technological geeks and the ideologists.

I have a hard time seeing my father or mother ever using digital currency. I don't see the mass public ever adapting to online currency. There is a considerable step in technological knowledge to get started and another leap forward in knowing how to protect your wallet. It's not as simple as keeping it on an exchange anymore.

Using it in lieu of credit cards, seems overwhelming. I can't make a simple purchase and go without the desired number of confirmations which could take 10 minutes to hours. I do not see patrons waiting nor retailers waiting for the confirmations. Lower fees do not make up for this.

After all the initial hype of technological savy individuals and idealogists jump on board... i see the buyers of bitcoin dry up and prices fall. The ONLY way I see the price of bitcoin rising is if we can get widespread use.

I first thought foreign countries could make up the bulk of the buyers but there would be very few individuals sellers of bitcoin who would be willing to purchase these high inflation currencies as an investment.

I don't see the vast majority of bitcoin buyers actually using it as a purchasing vehicle more as an investment through speculation. If no one really uses it to purchase then the price won't be sustainable.

[DannyHamilton]

The same could be said about the internet in the 1980's.

Bitcoin is a significant technological protocol in its infancy, innovators and entrepreneurs will add layers of usability on top of that protocol to bring it to the masses and they will get very rich doing so.

[(A)social]

[mangouste]

I have a hard time seeing my father or mother ever using digital currency. I don't see the mass public ever adapting to online currency. There is a considerable step in technological knowledge to get started and another leap forward in knowing how to protect your wallet. It's not as simple as keeping it on an exchange anymore.
Using it in lieu of credit cards, seems overwhelming. I can't make a simple purchase and go without the desired number of confirmations which could take 10 minutes to hours. I do not see patrons waiting nor retailers waiting for the confirmations. Lower fees do not make up for this.

I'm a father Innovation comes. Before I found versocards.com , I had doubts about the bitcoin's ability to be adopted by the non-geek public. With verso, everything is easy and stays secure. It will be better and better.

Why have you to wait a long time to see the transaction confirmed. Micropaiements need no confirmation. Ordinary paiements can do it with just one confirmation. Only big paiements have to make you wait a little more but less than interbanking system. So I understand the system. Am I right ?

[steeev]

why do people post these threads???

what are they hoping to achieve

[flower1024]

why do people post these threads???

what are they hoping to achieve

sometimes people just seeking answers to questions they have.
not everybody has an agenda

[franky1]

I really like the idea of online currency but I wonder if the perceived value is only due to the technological geeks and the ideologists.

I have a hard time seeing my father or mother ever using digital currency. I don't see the mass public ever adapting to online currency. There is a considerable step in technological knowledge to get started and another leap forward in knowing how to protect your wallet. It's not as simple as keeping it on an exchange anymore.

Using it in lieu of credit cards, seems overwhelming. I can't make a simple purchase and go without the desired number of confirmations which could take 10 minutes to hours. I do not see patrons waiting nor retailers waiting for the confirmations. Lower fees do not make up for this.

compared to your grandmother finding purse and glasses and typing 16 keys on the keyboard, double checking she didnt mistype her credit card number at a few stages inbetween. . do you really think bitcoins are harder to spend.

now imagine your grandmother ready to buy the hand bag you tell her
"granny sit down dont worry about your purse or your reading glasses here take my phone and press the screen 2 times in the middle" once to open the wallet another to scan qr code. then you say "press the send button"

and as for the waiting time. as soon as she presses the send payment. she can go on to make cookies or do some cross-stitching and in 10 minutes she will get a confirmation email (no difference to fiat merchants) and the handbag will be on her doorstep in 3-5 days (no difference to fiat merchants)

once the payment send button is pressed the customer can walk away and do other activities whilst waiting for their goods to be delivered.

i only see a problem with instant access online content. .. but wait most people prebuy their balance (depositing early) like buying microsoft points or steam credit and then eat into that balance as and when they like. so thats not an issue also.

soon starbucks will probably have a prepay system .. oh wait they do..

all that is left is for starbucks to allow you to buy prepaid cards with bitcoin...