Bitcoin Interest... again

[bryant.coleman]

banks also are not that secure(there were many case of stolen money all over the world), they aren't so much different then current bitcoin situation, yet people keep trust them, so it's a matter of habit than anything else

I agree that banks are not that secure. But banks deal with trillions of USD worth of fiat every day, and only a few millions get stolen. Compare that to Bitcoin. Some 15% of all the Bitcoins in circulation has been stolen over the last 15 months.

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[ObscureBean]

Well there is no doubt that interest in Bitcoin would skyrocket if major corporations were to adopt it, in particular those companies that deal with young people. For instance if Playstation, Xbox, Facebook, Google Play etc were to incorporate Bitcoin into their systems, interest in BTC would just explode.

[unsoindovo]

Bitcoin has two major issues to overcome. The first is the fraud. People have lost their life savings to places like BTC trader and PB mining et al. All of the ponzi schemes and outright thefts scare people away faster than any media spun story about Isis or child pornography being related to bit coin.

Secondly, we have utterly failed to educate the public on the advantages of bitcoin. We talk about bitcoin technology and how it is the "internet of money" but as a day to day thing people know very little about it and even less about how to actually use it. I place blame primarily on the bitcoin foundation for that. They are supposed to be our voice to the world but all they seem to do is enrich themselves and allow corrupt individuals to create some token credibility by selling them memberships.  

+1 to this. I have a feeling that most of community sits on their hands and waits for the price to go up. This is not gonna happen without strong promotion and involvement of all of its members. Regarding fraud, I ve already stated my position about this. Bitcoin needs a system/agency/legislation which would provide a consumer protection function. In other words, somebody you can ask for help if you get scammed when dealing with BTC.

sorry but....
i think bitcoin it is fighting right this...
i repeat...
decentralization is what bitcoin must reach!

[Amph]

banks also are not that secure(there were many case of stolen money all over the world), they aren't so much different then current bitcoin situation, yet people keep trust them, so it's a matter of habit than anything else

I agree that banks are not that secure. But banks deal with trillions of USD worth of fiat every day, and only a few millions get stolen. Compare that to Bitcoin. Some 15% of all the Bitcoins in circulation has been stolen over the last 15 months.

many hole in the security aren't bitcoin fault, it's because of the incompetence of some exchange, cough gox, bitstamp cough, or general people that don't know how to protect their desktop

i never lost any bitcoin due to thieves

[bryant.coleman]

many hole in the security aren't bitcoin fault, it's because of the incompetence of some exchange, cough gox, bitstamp cough, or general people that don't know how to protect their desktop

i never lost any bitcoin due to thieves

Exchanges such as Bitstamp are well known for their security features. So you can't brand all of them as being incompetent. Even here in Bitcointalk, I have seen very intelligent people losing their coins. You need some luck as well, to protect your coins from thieves.

[redsn0w]

many hole in the security aren't bitcoin fault, it's because of the incompetence of some exchange, cough gox, bitstamp cough, or general people that don't know how to protect their desktop

i never lost any bitcoin due to thieves

Exchanges such as Bitstamp are well known for their security features. So you can't brand all of them as being incompetent. Even here in Bitcointalk, I have seen very intelligent people losing their coins. You need some luck as well, to protect your coins from thieves.

Maybe in the next few years these exchange will drop and a few new "decentralized" exchange will be created (only to trade btc <>altcoin). The problem with decentralized exchange (FIAT side) is that the fiat money are too big problematic due the chargeback possibility, the stolen of bank, credit card etc....


These exchangers are both positive and negative for the bitcoin ecosystem and the mainstream adoption

[jwcastle]

If you're waiting on wall street, it has to be a financially sound investment.  Even more so than traditional investments.
It may take a while because wall street wants to see less volatility and steady and somewhat predictable growth. If you are a large investor who typically gets 12% return, why would you choose Bitcoin over something else?

[jwcastle]

Well there is no doubt that interest in Bitcoin would skyrocket if major corporations were to adopt it, in particular those companies that deal with young people. For instance if Playstation, Xbox, Facebook, Google Play etc were to incorporate Bitcoin into their systems, interest in BTC would just explode.

I respectfully disagree. Let's say Google starts to accept BTC. It'll make the news and all, but so what? People are still going to do business with Google using their credit card, Paypal, Google card, or whatever. What's the incentive for any of Google's customers to switch to BTC instead of some electronic form of fiat? It's almost like if some other company starts up a Paypal competitor and called it SuperPayMeNow. Why would people switch to SuperPayMeNow instead of what they've been using for years? Maybe this new payment system charges less fees to the merchant. Maybe merchants will offer customers a small discount. But I just don't think these small incentives are enough.

[Ashwell John]

Bitcoin was in the news, and on the radio a lot. That's why people were searching it.

Yeah people are too much interested about bitcoin.

[bryant.coleman]

Maybe in the next few years these exchange will drop and a few new "decentralized" exchange will be created (only to trade btc <>altcoin). The problem with decentralized exchange (FIAT side) is that the fiat money are too big problematic due the chargeback possibility, the stolen of bank, credit card etc....

Decentralized exchanges can be even more risky. Look at what happened to Silk Road 2.0, which was a decentralized market place. Hackers stole the credentials of sellers with good reputation, and then used these accounts to scam ordinary users.

[Whitehouse]

Well there is no doubt that interest in Bitcoin would skyrocket if major corporations were to adopt it, in particular those companies that deal with young people. For instance if Playstation, Xbox, Facebook, Google Play etc were to incorporate Bitcoin into their systems, interest in BTC would just explode.

I respectfully disagree. Let's say Google starts to accept BTC. It'll make the news and all, but so what? People are still going to do business with Google using their credit card, Paypal, Google card, or whatever. What's the incentive for any of Google's customers to switch to BTC instead of some electronic form of fiat? It's almost like if some other company starts up a Paypal competitor and called it SuperPayMeNow. Why would people switch to SuperPayMeNow instead of what they've been using for years? Maybe this new payment system charges less fees to the merchant. Maybe merchants will offer customers a small discount. But I just don't think these small incentives are enough.

I agree with some points, but bitcoin adoption would spread considerably if big companies like those mentioned start accepting it. Maybe not explode but I think it would be the catalyst in a bigger growth over time. People would probably gradually switch over from Paypal if another better system came out and if "SuperPayMeNow" was considerably cheaper to use and was accepted everywhere like Paypal is. If places don't accept something then that is a big barrier to adoption so the more places that accept it the better for everyone and ignites bother interest and growth.

[tokeweed]

The interest in Bitcoin is stagnant from exactly one year!
Just do a google trend research...
What would you think it is needend to comeback interest on Bitcoin???

Obviously an increase in the value but what else?

A donation/charity drive from the BTC community together with the Doge community.

As I said before, it's time for BTC to accept other cryptos and be more community oriented.  Doge has a good community.  Why not someone influential here start something with someone influential from the Doge community?

One idea is giving the core BTC devs some support.  It doesn't have to be a big amount.  Send them pizza, beer, or whatever...  A months supply of food and redbull.

And if it's a success, then just build from there.

[Amph]

Maybe in the next few years these exchange will drop and a few new "decentralized" exchange will be created (only to trade btc <>altcoin). The problem with decentralized exchange (FIAT side) is that the fiat money are too big problematic due the chargeback possibility, the stolen of bank, credit card etc....

Decentralized exchanges can be even more risky. Look at what happened to Silk Road 2.0, which was a decentralized market place. Hackers stole the credentials of sellers with good reputation, and then used these accounts to scam ordinary users.

then openbazar is doomed(which is bad because openbazar is another thing that could potentially rise the price of bitcoin), if they don't implement something automatized, a bot that check if connection is secure between two user and also work as escrow

[tokeweed]

Maybe in the next few years these exchange will drop and a few new "decentralized" exchange will be created (only to trade btc <>altcoin). The problem with decentralized exchange (FIAT side) is that the fiat money are too big problematic due the chargeback possibility, the stolen of bank, credit card etc....

Decentralized exchanges can be even more risky. Look at what happened to Silk Road 2.0, which was a decentralized market place. Hackers stole the credentials of sellers with good reputation, and then used these accounts to scam ordinary users.

Was Silkroad 2.0 decentralized?

[redsn0w]

Maybe in the next few years these exchange will drop and a few new "decentralized" exchange will be created (only to trade btc <>altcoin). The problem with decentralized exchange (FIAT side) is that the fiat money are too big problematic due the chargeback possibility, the stolen of bank, credit card etc....

Decentralized exchanges can be even more risky. Look at what happened to Silk Road 2.0, which was a decentralized market place. Hackers stole the credentials of sellers with good reputation, and then used these accounts to scam ordinary users.

I may agree with you, but the problem was the lack of security acces data of those users not of the "decentralized protocols". Now here we are talking about decentralized exchanges only for trade crypto currency, and that could be possible in the next few years.

[calme]

Secondly, we have utterly failed to educate the public on the advantages of bitcoin.

True, but the BTC community hasn't failed to treat newcomers like stupid fuckin' n00bs.

Just think how many potential n00bs there are to tell off. Mothers, grandparents...the sky is the limit.

[abyrnes81]

Maybe in the next few years these exchange will drop and a few new "decentralized" exchange will be created (only to trade btc <>altcoin). The problem with decentralized exchange (FIAT side) is that the fiat money are too big problematic due the chargeback possibility, the stolen of bank, credit card etc....

Decentralized exchanges can be even more risky. Look at what happened to Silk Road 2.0, which was a decentralized market place. Hackers stole the credentials of sellers with good reputation, and then used these accounts to scam ordinary users.

Was Silkroad 2.0 decentralized?

I don't think they were really decentralized, they were only using multisig addresses for the deposit (but I'm not sure).

[Whitehouse]

Maybe in the next few years these exchange will drop and a few new "decentralized" exchange will be created (only to trade btc <>altcoin). The problem with decentralized exchange (FIAT side) is that the fiat money are too big problematic due the chargeback possibility, the stolen of bank, credit card etc....

Decentralized exchanges can be even more risky. Look at what happened to Silk Road 2.0, which was a decentralized market place. Hackers stole the credentials of sellers with good reputation, and then used these accounts to scam ordinary users.

then openbazar is doomed(which is bad because openbazar is another thing that could potentially rise the price of bitcoin), if they don't implement something automatized, a bot that check if connection is secure between two user and also work as escrow

How is it doomed? Even if openbazzar doesn't work perfectly new improved marketplaces will pop up that attempt to fix previous flaws. They will continue to evolve and adapt until perfect.

Maybe in the next few years these exchange will drop and a few new "decentralized" exchange will be created (only to trade btc <>altcoin). The problem with decentralized exchange (FIAT side) is that the fiat money are too big problematic due the chargeback possibility, the stolen of bank, credit card etc....

Decentralized exchanges can be even more risky. Look at what happened to Silk Road 2.0, which was a decentralized market place. Hackers stole the credentials of sellers with good reputation, and then used these accounts to scam ordinary users.

Was Silkroad 2.0 decentralized?

No, it was centralized. If it was decentralized it would probably be still running and there would have been no owner to arrest.

[inca]

Just one thing, the price. It is no surprise the peaks correspond to bubbles.

Patience.

Joe public never buy at the end of a bear market. They will remember it as it surges up again. No one was buying at 2 dollars in 2011, just as few bought the last two months after a 14 month bear market. Each bubble brought in more people, with new entrants hearing about btc but not buying during the previous run. They will once again see a chance to get in, and there will be a lot more this time round.

[dothebeats]

Bitcoin has two major issues to overcome. The first is the fraud. People have lost their life savings to places like BTC trader and PB mining et al. All of the ponzi schemes and outright thefts scare people away faster than any media spun story about Isis or child pornography being related to bit coin.

Secondly, we have utterly failed to educate the public on the advantages of bitcoin. We talk about bitcoin technology and how it is the "internet of money" but as a day to day thing people know very little about it and even less about how to actually use it. I place blame primarily on the bitcoin foundation for that. They are supposed to be our voice to the world but all they seem to do is enrich themselves and allow corrupt individuals to create some token credibility by selling them memberships.  

But apparently, what you are talking about the first point is evident to any currency that you can think of all around the globe. If you can give me a currency that is totally fraud-free or crime-free, then it is possible to end all fraudulent activities to all the currency available in this world. But sadly, it doesn't exist.