Mainstream Adoption

[foxbitcoin]

Hey guys,

It's been dawning on me for some time that there is one thing that businesses must hate.. credit card fees. So with this in mind why is mainstream adoption taking so long! We're not saying invalidate fiat currency and only accept BTC or Alt-coin but businesses don't seem to want to touch it?

What do you guys think the real issue is? Education among consumers and businesses? Volatile BTC price?

Tully

Mainstream adoption hasn't even begun. Why is it taking so long? Well why did it take so long for the internet to become mainstream? Why did it take so long for people to stop using paper mail and using email? Why did it take so long for people to stop fearing the concept of paying for something you aren't seeing in real life? (internet shopping).

Dude, radical change takes time, and guess what... Bitcoin is the most disruptive technology since the internet itself.

I've yet to bump into a stranger that actually Knows bitcoin. The few that have heard of it usually mention Mt. Gox in little to no detail. I usually take that opportunity to politely teach them about bitcoin and why its better.

[mrvegad]

Check out http://getgems.org/ it's an easy to use chat app that allows you to send btc like sending a text message:

Son: I need 2 btc dad
Dad: 2 btc
Son: got it, thanks

They also just released a bot which Telegram and Gems user can use coinbase from within the apps.
http://getgems.ghost.io/2015/07/21/getgems-development-update-15/

[XCASH]

Hey guys,

It's been dawning on me for some time that there is one thing that businesses must hate.. credit card fees. So with this in mind why is mainstream adoption taking so long! We're not saying invalidate fiat currency and only accept BTC or Alt-coin but businesses don't seem to want to touch it?

What do you guys think the real issue is? Education among consumers and businesses? Volatile BTC price?

Tully

Mainstream adoption hasn't even begun. Why is it taking so long? Well why did it take so long for the internet to become mainstream? Why did it take so long for people to stop using paper mail and using email? Why did it take so long for people to stop fearing the concept of paying for something you aren't seeing in real life? (internet shopping).

Dude, radical change takes time, and guess what... Bitcoin is the most disruptive technology since the internet itself.

I've yet to bump into a stranger that actually Knows bitcoin. The few that have heard of it usually mention Mt. Gox in little to no detail. I usually take that opportunity to politely teach them about bitcoin and why its better.

Also businesses also might not like the risk of having their business bank account closed by their bank for being linked to Bitcoin transactions. I know members of the public have had their bank accounts closed for Bitcoin related transactions, and Bitstamp had to switch banks a while back. The banks are running scared and this behavior is hindering the adoption of Bitcoin. They can't hold it back forever but they won't give up without a fight.

[gentlemand]

Also businesses also might not like the risk of having their business bank account closed by their bank for being linked to Bitcoin transactions.

They can use a payment processor. Having to mess around with an exchange themselves makes it pretty unviable for a business. More risk and lots of extra hassle.

If banks start to blacklist bank transfers from Bitpay and Coinbase then we got problems.

[bytezero]

people don't want to pay that much for bitcoins
they think $ 280 is very for a "virtual currency" most people think is a toy currency

This is a common thought-bias. You can buy as little as $5 worth of bitcoin. This is not like stocks, where you have to buy a full share.

[bitcart]

It's education mainly in my opinion. If you were to take a school and teach all the students there how to use bitcoin then I'm sure in 5 years time that will become the most developed bitcoin space and adoption would be through the roof!

[roadbits]

We're going to run into waves of adoption. This is inevitable, and will make for a bumpy ride, but also slower growth, which may be a healthy thing.

[gentlemand]

We're going to run into waves of adoption. This is inevitable, and will make for a bumpy ride, but also slower growth, which may be a healthy thing.

I'm waiting to see a wave of genuine adoption. I don't think it's arrived yet. What's going on now is a few curious people nipping around the edges. If and when it does we'll sure as shit know it.

[dodgecharger]

Bitcoin has a steep learning curve. installing software is not comfortable because ppl hear about viruses and about bitcoin and hacking all the time. ppl are afraid I might do something wrong and lose yours wealth.

[ransomer]

Bitcoin has a steep learning curve. installing software is not comfortable because ppl hear about viruses and about bitcoin and hacking all the time. ppl are afraid I might do something wrong and lose yours wealth.

True. For this reason bitcoin is not ready for mass adoption.

[grahamdebarra]

Adoption for bitcoin and other crypto currencies is only inevitable and it is coming within a few years.

[dodgecharger]

I think the bad reputation Bitcoin gets for the hackings and anonymity associated with it. Many people apart of the mainstream media believe Bitcoin is for criminals, possibly because of the rep the Deep Web gives it. Nonetheless, it takes education to teach the public that Bitcoin is more than that.

for ppl it's still easier to trust big institutions and governments his wealth is somehow protected. If the bank fails, at least the government will try to get him back some of his money. With Bitcoin, he still has to trust his exchanges, his computer, his wallet

[zeraTunerse]

It's education mainly in my opinion. If you were to take a school and teach all the students there how to use bitcoin then I'm sure in 5 years time that will become the most developed bitcoin space and adoption would be through the roof!

In western countries even the school students are aware about the bitcoins. But it is not the same situation in Asian countries. If you check this forum there are many teenagers who are already own bitcoins and that is a great sign. It will hit the mainstream but when, that cannot be judged.

[ransomer]

I think the bad reputation Bitcoin gets for the hackings and anonymity associated with it. Many people apart of the mainstream media believe Bitcoin is for criminals, possibly because of the rep the Deep Web gives it. Nonetheless, it takes education to teach the public that Bitcoin is more than that.

for ppl it's still easier to trust big institutions and governments his wealth is somehow protected. If the bank fails, at least the government will try to get him back some of his money. With Bitcoin, he still has to trust his exchanges, his computer, his wallet

When I talk to people outside of the actual btc community... but people that might get into it, the issue is not at all the deep web or Silk Road etc. Rather the attitude is that porn won VHS the win over BETA, and so the dark web or porn might help help bitcoin get successful. So they only see that as a net plus... the issue is with the hacking of people's computers, and having to hide paper slips under the bed or where ever... basically the fact that bitcoin lacks a user interface to make it safe in an easy way for the individual. Some still got interested but only have peanuts in bitcoins for this reason.

[subSTRATA]

I think the bad reputation Bitcoin gets for the hackings and anonymity associated with it. Many people apart of the mainstream media believe Bitcoin is for criminals, possibly because of the rep the Deep Web gives it. Nonetheless, it takes education to teach the public that Bitcoin is more than that.

bitcoin gets a bad rep because thats what the media reports on; news focused on the negatives of bitcoin (silk road, scams, etc) get a lot more attention from the public compared to the good things bitcoin can bring. "decentralization" and "helping greece" just doesnt have the same impact as "drugs, hookers, hitmen, and black market."

[hunnaryb]

I think the bad reputation Bitcoin gets for the hackings and anonymity associated with it. Many people apart of the mainstream media believe Bitcoin is for criminals, possibly because of the rep the Deep Web gives it. Nonetheless, it takes education to teach the public that Bitcoin is more than that.

bitcoin gets a bad rep because thats what the media reports on; news focused on the negatives of bitcoin (silk road, scams, etc) get a lot more attention from the public compared to the good things bitcoin can bring. "decentralization" and "helping greece" just doesnt have the same impact as "drugs, hookers, hitmen, and black market."

Very Rightly Said, Bad news travels faster then the good news, and media has played a very important role in spreading the negative publicity of the bitcoins. No one is talking about the positive side of the bitcoins and people also entertain bad news more then the good news.

[misterycoins]

Most Average Joe's don't understand the workings of the  engine of the car they drive or the internal workings of the transistors in the electronic gadgets they use. They just learn how to use the product & trust that it functions as expected. Bitcoin is no different. They just need to learn how to send, receive & secure their bitcoins without really knowing how the transactions are secured in the blockchain.

[grahamdebarra]

The State of Bitcoin Q2 revealed that merchant adoption has been slow this year. Perhaps a reason for this is the ambiguity over the regulation of btc payments. I think with more time the market will be trialed and tested and more business will eventually begin to feel comfortable accepting the currency in their business.

[TeamButtcoin]

Adoption for bitcoin and other crypto currencies is only inevitable and it is coming within a few years.

The death of the sun is inevitable. The adoption of bitcoin is not

[gentlemand]

The State of Bitcoin Q2 revealed that merchant adoption has been slow this year. Perhaps a reason for this is the ambiguity over the regulation of btc payments. I think with more time the market will be trialed and tested and more business will eventually begin to feel comfortable accepting the currency in their business.

I think it's purely down to lack of adoption by the people. If retailers who were considering it saw others who had making a ton then it's a no brainer. Processors like Bitpay and Coinbase deal with the tricky stuff.

People who have coins now are either hoarding for the future or don't want to spend at a loss. People who don't have coins really don't have an incentive to get any and spend them right now.