Why Is Mass Bitcoin Adoption Still Not Happening?

[jbrnt]

Mass adoption is not happening yet because no one has to use bitcoin. Life evolves around fiat. It takes a long time to learn how to use bitcoin safely and people prefer things they are familar with.

[jacktheking]

Well.. I think mass Bitcoin adoption is happening right now. In fact.. many years back. More and more people is using Bitcoin everyday. Rome was not built in a day. Thus, mass Bitcoin adoption wont happen overnight.

[Tzupy]

http://www.coindesk.com/5-facts-coindesks-state-bitcoin-report-q1-2015/

[randy8777]

Well.. I think mass Bitcoin adoption is happening right now. In fact.. many years back. More and more people is using Bitcoin everyday. Rome was not built in a day. Thus, mass Bitcoin adoption wont happen overnight.

i agree. as we speak bitcoin adoption is taking place but it is not as fast as most people were hoping for. everything takes time. i prefer a stable growth rather than short term peak.

[noobtrader]

mass adoption only happen if ppl are using it in few niche area, like cannabis if cannabis is legalized, and/or  gambling. payment sector in other "normal" business is very slim to have impact on bitcoin adoption imho. at least atm.

[bornil267645]

Who is going to adopt something that shows this volatility. I wouldn't. But the recent history suggests that Bitcoin can hold steady and trying to find it's place in the world market. Maybe now, people will be encouraged to adopt more bitcoin.

[thejaytiesto]

It has been 8 years since Bitcoin was introduced to the public by an individual who called himself as Satoshi Nakamoto. Bitcoin is described as a peer-to-peer decentralized digital currency that can be transferred to someone without any involvement of banks and other financial entities.

Bitcoin became a very interesting option for giving mobile banking services to the people who doesn't have any banking information in underdeveloped countries in the world.

Read more: http://bitforum.info/t/why-bitcoin-mass-adoption-is-still-not-happening/830

In your own opinion what are the reasons why mass bitcoin adoption is still not happening right now?

Since when has Bitcoin been introduced to the public? go around and ask random people, only like 1 to 10 person knows what the fuck Bitcoin is and chances are the % of people that actually understand it therefore see a real use of it are even lower.

We are still in early 1990's if we do the internet analogy.

[Amph]

Who is going to adopt something that shows this volatility. I wouldn't. But the recent history suggests that Bitcoin can hold steady and trying to find it's place in the world market. Maybe now, people will be encouraged to adopt more bitcoin.

funny part is that the volatility is called by no adoption, not the contrary, before people are willing to adopt bitcoin on a larger scale, we must wait for every big merchant to adopt it first

[jacktheking]

Well.. I think mass Bitcoin adoption is happening right now. In fact.. many years back. More and more people is using Bitcoin everyday. Rome was not built in a day. Thus, mass Bitcoin adoption wont happen overnight.

i agree. as we speak bitcoin adoption is taking place but it is not as fast as most people were hoping for. everything takes time. i prefer a stable growth rather than short term peak.

Yes. You are right. Bitcoin is growing.. however not as fast as most people were hoping for.

[ensurance982]

Well no, first of all we'd have to go and define what we consider 'mass adoption' or what needs to be achieved at least to qualify for that term. I think, being at the point where ETFs are being released on the Wall Street, we've accomplished quite some mass adoption, actually.

[bronan]

The reason why its not adopted as much as people would like to see, one of the reasoins is that most are technical people using it.
People like my friends and family do not come near bitcoin, they think its scary has huge risks and is way to complicated to use.
And lets be honest the adoption is also not something to be proud of only a few shops really accepted bitcoin
That microsoft has put a pay in bitcoin in the shop is a good thing, but that still does not solve the problem with gettting bitcoins.
See if i get out my bankcard i can pay instant with (ideal/mastercard) in shops, on the internet and even on markets  with this method. ( really in seconds )
Just pull the card and the merchants have a small device on the counter which handles the pays or they have a portable device.
The second thing about it is that there is minor security available if some of your funds gets stolen, then you can claim a payback at the bank or governement.

With bitcoin you have to have a receive address, then find an exchange to get bitcoin.
Then when you bought the bitcoin have to wait an enormous long time till it actually gets onto that address
After that you need to find out if you can securely pay the bitcoins from your deposit to the address which is for the merchant.
This merchant has to wait another long period of time that the bitcoins arrive and worse he can loose money because the value can change so fast that he might loose money, ofcourse if its going up they never would complain.
By the time this very nasty way of paying works you have spend a few hours getting funds at the place you want it.

So yes its a fast way of paying (international) if no hurry is involved compared to money orders done by banks (usually several days/weeks) depending where you send it  
For instance if i send money to england it will take about 1 to 3 days, if i send money to india it can take up to a 2 months.

Long story short for normal people to use btc its way too complex and poses too many risks for them and the merchants.
Thats why i pay much more for my btc payements than when i use my bankcard. If i order for example a laptop i pay at ideal 750 the same laptop with btc costs me 1000 euro thats including the exchange costs and the money transfers

[ensurance982]

Long story short for normal people to use btc its way too complex and poses too many risks for them and the merchants.
Thats why i pay much more for my btc payements than when i use my bankcard. If i order for example a laptop i pay at ideal 750 the same laptop with btc costs me 1000 euro thats including the exchange costs and the money transfers

There's really no reason for this surcharge, actually. I agree that Bitcoin still appears to be too technical to the regular person on the streets, but that's going to end as soon as Bitcoin is being used more as a backbone technology!

[bronan]

Well if you look at what has been announced you should know that some people was investigating a blockchain as a backbone.
However they never mentioned they would use the bitcoin chain, and if i understood the news well they are totally not related to bitcoin.
So bitcoin would never gain any benefit from that backbone

[ensurance982]

Well if you look at what has been announced you should know that some people was investigating a blockchain as a backbone.
However they never mentioned they would use the bitcoin chain, and if i understood the news well they are totally not related to bitcoin.
So bitcoin would never gain any benefit from that backbone

The most important thing to consider: A blockchain can only be safe if there's enough incentive for people to mine it (therefore make it safe, to begin with). To have that incentive, there needs to be some reward. The tokens the blockchain uses need to have value - Bitcoin makes perfect sense.

[pattu1]

Long story short for normal people to use btc its way too complex and poses too many risks for them and the merchants.
Thats why i pay much more for my btc payements than when i use my bankcard. If i order for example a laptop i pay at ideal 750 the same laptop with btc costs me 1000 euro thats including the exchange costs and the money transfers

There's really no reason for this surcharge, actually. I agree that Bitcoin still appears to be too technical to the regular person on the streets, but that's going to end as soon as Bitcoin is being used more as a backbone technology!

Forget surcharge, paying with discounts could result in discounts.
It is only a matter of time before merchants start transferring savings to consumers.
From their point of view, receiving bitcoins makes more sense than receiving money through Visa.

[neurotypical]

Whenever a person here asks for why things are happening as fast as they expected, the very first bit of advice I give them is look up, and read on that nice light blue bar, where it says "News: Latest stable version of Bitcoin Core: 0.10.0 [Torrent]"

[chaoman]

We're not doing it right. Or at least, 99% aren't doing it right. (purse.io may be the only company that understands the idea)

BTC has the ability to lower transaction costs, but instead almost all business that accept it, simply use it as an optional form of payment... Keeping the price the exact same...
dumb.

I cant wait for the day newegg and other merchants realize this and actually give me a discount for paying with BTC instead of credit cards.

$1000 laptop, paid with a credit card (1.9% fee) means the merchant keeps ~$981.
$1000 laptop paid with BTC = between  0%-1% fee; merchant keeps ~>$990.

Where's my .09% to 1.9% discount for paying in BTC???

Once merchants realize correct this imbalance, there will be real adoption, instead of just bitfinex speculative shorts.

TL;DR
Mass adoption will happen once you can actually save money using BTC to pay for things.

I agree. I was going to buy a vape and I saw the btc option to pay. It was the same price. So I was like here take this intrinically worthless free to print for govts paper money. Ill keep my btc thank you very much.

[Amph]

Well if you look at what has been announced you should know that some people was investigating a blockchain as a backbone.
However they never mentioned they would use the bitcoin chain, and if i understood the news well they are totally not related to bitcoin.
So bitcoin would never gain any benefit from that backbone

The most important thing to consider: A blockchain can only be safe if there's enough incentive for people to mine it (therefore make it safe, to begin with). To have that incentive, there needs to be some reward. The tokens the blockchain uses need to have value - Bitcoin makes perfect sense.

this is an other reason why the price is important, and it's not just a side effect, the more high is the price the more miners will mine, and the more secure the network will be

[muhrohmat]

well in my opinion and the jbrnt user its that we use comodities fiat also and we do trade them around i might use bitcoin for only 10% of my usual purchases or trades and the only advantage its the small and quick amounts traded but even paypal can do that soo its just like a alternative coin that can be putted into site of salles too.

[minerpumpkin]

Mass adoption probably won't happen in a way we're expecting it to happen in. I don't think that it will a regular thing to pay for your coffee or dinner using BTC. It may become a way of paying for something online, but I do see it more as a backbone technology and asset of some sort (yet to be determined).