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futurebit640
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August 08, 2015, 08:39:46 PM |
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Paretos law says we only need the 20% to understand bitcoin. They will create the technology and services to harness bitcoin for the hopeless 80% I think were well on our way to mainstream adoption.
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centauribit
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August 11, 2015, 02:30:28 PM |
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Nobody wants to adopt change that is the difficulty bitcoin is facing at a moment. People are so busy with their personal and professional they don't want to invest their time in learning something new.
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gripflierGO
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August 12, 2015, 08:34:58 AM |
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Nobody wants to adopt change that is the difficulty bitcoin is facing at a moment. People are so busy with their personal and professional they don't want to invest their time in learning something new.
That's correct, bitcoins can get into mainstream adoption only if the maximum number of people across the globe starts using bitcoins as a currency, and for that we also need that even a small merchant should start accepting bitcoins as a mode of payment, if the adoption level keeps on increasing day by day, it can get into mainstream or else not. |
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bitcollins85
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August 15, 2015, 05:07:55 PM |
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The adoption of bitcoin is not going to happen overnight for all, Its about having the drive to start something new out of the Box.
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tommorisonwebdesign
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August 15, 2015, 05:14:37 PM |
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I would say that mass adaptation has not happened yet because so few people know what Bitcoin is and many think that the price of bitcoin is going to collapse. Since this almost happened at the beginning of the year, this has caused many to back away from the cryptocurrency and stick to fiat. Until the price stabilizes and more people become more aware of Bitcoin, the sooner mass adaptation will happen.
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Signatures? How about learning a skill... I don't care either way. Everybody has to make a living somehow.
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Denker
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August 15, 2015, 07:29:41 PM |
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The adoption of bitcoin is not going to happen overnight for all, Its about having the drive to start something new out of the Box.
Right. Although six years old this technology still is in early stages. So every actual participant is also an early adopter. And is you said completely new things need time to be understand and accepted. The internet in it's early days had to fight with the same prejudices and mainstream media brainwashing as we see it now with Bitcoin. So having patience and a long breath is recommended. |
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LFC_Bitcoin
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August 15, 2015, 07:43:01 PM |
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Right. Although six years old this technology still is in early stages. So every actual participant is also an early adopter.
And is you said completely new things need time to be understand and accepted. The internet in it's early days had to fight with the same prejudices and mainstream media brainwashing as we see it now with Bitcoin.
So having patience and a long breath is recommended.
I totally agree with all of this. Bitcoin is still in its infancy, we are only 6 years into an innovative, totally new technology. Did people really expect bitcoin to be the most used currency in the world by now at 1 million dollars each or something? It's a long, long, long waiting game, if you don't have the stomach for it sell up & get out. Nothing good in life comes easily. Mainstream adoption will take years, maybe decades. Just set up some cold storage & chill out, enjoy life. Bitcoin is a long term investment, look at it as a retirement fund. Keep accumulating whilst coins are cheap & hopefully one day in the future we will be the new wealthy elite. |
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maokoto
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August 15, 2015, 08:34:26 PM |
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People were scared in his day of adopting credit cards, of paying through transfers, and of buying and selling online.
I think that Bitcoin has to stablish bit by bit. Also volatility is an issue that I think could be solved if many more people used it.
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c789
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August 24, 2015, 05:19:35 PM |
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That is for the companies who build upon bitcoin to do, no such thing as a commercial for the wonders of internet (without an isp being involved) or the commercial for Car (without a manufacturer involved) People know what the internet is. They don't know what Bitcoin is. The same goes for Comcast. People know what Comcast is. They don't know what Bitcoin is. Bitcoin needs marketing. |
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c789
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August 24, 2015, 05:26:34 PM |
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That is for the companies who build upon bitcoin to do, no such thing as a commercial for the wonders of internet (without an isp being involved) or the commercial for Car (without a manufacturer involved) People know what the internet is. They don't know what Bitcoin is. The same goes for Comcast. People know what Comcast is. They don't know what Bitcoin is. Bitcoin needs marketing. That is what I meant, people used to not know what the internet is : https://www.youtube.com/watch?v=lz6IQX7uDk4 Starts at 2:40 "What the hell is this internet thing?" That quote will be where you can listen. You see we need the companies who are investing a lot to go ahead and and advertise and bring awareness, it makes them money. Ah, I see. I completely agree. |
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dodgecharger
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August 26, 2015, 12:31:22 AM |
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With no charge-backs it has less of a cost to accept bitcoin than credit cards so places could offer a slight discount for it to entice consumers to use bitcoin.
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Chef Ramsay
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August 26, 2015, 12:40:33 AM |
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With no charge-backs it has less of a cost to accept bitcoin than credit cards so places could offer a slight discount for it to entice consumers to use bitcoin.
You'd think that more retailers would be up on this by now as this payment format is better for everyone and even if there are customer service issues, they could just refund in bitcoin like it's no big deal. |
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brg444
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August 26, 2015, 01:08:34 AM |
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Let's be realistic Bitcoin is not a consumer ready product and won't be for a couple of years.
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"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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Blawpaw
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August 26, 2015, 03:51:34 AM |
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The reason why mainstream adoption taking so long is that Banks do not tolerate decentralized currencies and I believe this is one of the major reasons. however, another key factor that spooks people out is the high volatility and of course education is another factor with its own weight.
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stromma44
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August 27, 2015, 04:03:39 PM |
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The reason why mainstream adoption taking so long is that Banks do not tolerate decentralized currencies and I believe this is one of the major reasons. however, another key factor that spooks people out is the high volatility and of course education is another factor with its own weight.
Exactly, what you are saying is absolutely correct, and I believe that banks and governments are creating a major issue when it comes to mainstream adoption for bitcoins, and also the awareness level among the people is not too high which is creating a major problem towards the mainstream adoption, once the people are made aware and shown the benefits of bitcoins it would be much more easier to hit the mainstream. |
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BTChaintrader
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August 27, 2015, 05:02:03 PM |
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In my opinion, Bitcoin right now is where the internet was in the 80-90's. Once people realise the advantages of the decentralized currency, they will come... or they will stay with their fiat currency and when we face the consequences of money printing, debt spiral and financial slavery (Greece for example, can't inflate their currency and get out of debt, because Germany and ECB doesn't allow them to do it.), when people realise that, they will come.
Simply there is no other alternative. Even gold, because we live in a digital world plus the real innovation is not the Bitcoin itself, but the technology behind it, which is blockchain.
At the same time, volatility is becoming less of an issue. Right now volatility is really low, we are in 224 days of consolidation period. Also at times Bitcoin was actually less volatile even than the Euro.
You need to be patient, there is a lot room for improvement yet. Do you think that big companies will not use bitcoin to make there international money transfers, which are super expensive right now? Of course they will, but Bitcoin is not ready yet.
Do you think that people in Africa will use credit/debit cards made by Goldman? Of course not! The current financial system is not a scalable model, but Bitcoin is!
Do you think that immigrants will continue to use Western Union to send money to there families? Of course not. Once people realise that they can do it much cheaper through bitcoin, they will change their habits!
Banks are releasing this, that's why they started talking a lot about blockchain (they don't use the word "Bitcoin" because it has association with the deep web).
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umaOuma
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August 27, 2015, 09:38:14 PM |
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In my opinion, Bitcoin right now is where the internet was in the 80-90's. Once people realise the advantages of the decentralized currency, they will come... or they will stay with their fiat currency and when we face the consequences of money printing, debt spiral and financial slavery (Greece for example, can't inflate their currency and get out of debt, because Germany and ECB doesn't allow them to do it.), when people realise that, they will come.
Simply there is no other alternative. Even gold, because we live in a digital world plus the real innovation is not the Bitcoin itself, but the technology behind it, which is blockchain.
At the same time, volatility is becoming less of an issue. Right now volatility is really low, we are in 224 days of consolidation period. Also at times Bitcoin was actually less volatile even than the Euro.
You need to be patient, there is a lot room for improvement yet. Do you think that big companies will not use bitcoin to make there international money transfers, which are super expensive right now? Of course they will, but Bitcoin is not ready yet.
Do you think that people in Africa will use credit/debit cards made by Goldman? Of course not! The current financial system is not a scalable model, but Bitcoin is!
Do you think that immigrants will continue to use Western Union to send money to there families? Of course not. Once people realise that they can do it much cheaper through bitcoin, they will change their habits!
Banks are releasing this, that's why they started talking a lot about blockchain (they don't use the word "Bitcoin" because it has association with the deep web).
Yeah, once people starts knowing the concept of bitcoins it would definitely attract them towards bitcoins, as at present everyone have heard about it but very few have used it, once they are aware about the benefits of bitcoins, they would surely switch from banks and WU to bitcoins as it is very cheap and time saving too. |
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maokoto
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August 27, 2015, 09:51:15 PM |
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At the same time, volatility is becoming less of an issue. Right now volatility is really low, we are in 224 days of consolidation period. Also at times Bitcoin was actually less volatile even than the Euro.
You need to be patient, there is a lot room for improvement yet. Do you think that big companies will not use bitcoin to make there international money transfers, which are super expensive right now? Of course they will, but Bitcoin is not ready yet.
Do you think that people in Africa will use credit/debit cards made by Goldman? Of course not! The current financial system is not a scalable model, but Bitcoin is!
Do you think that immigrants will continue to use Western Union to send money to there families? Of course not. Once people realise that they can do it much cheaper through bitcoin, they will change their habits!
Banks are releasing this, that's why they started talking a lot about blockchain (they don't use the word "Bitcoin" because it has association with the deep web).
You make really good points here. Empoverished zones and people groups would require, however, that Bitcoin is accepted to buy regular things where they live, as exchanging for fiat has some difficulty and is not supported in the same fashion by all countries. |
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c789
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August 28, 2015, 03:24:21 AM |
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Yes, the banking industry is a major reason why Bitcoin hasn't been widely adopted, but I go back to what I think is the bigger reason: most people don't know about BTC, and therefore the demand can't exist.
If the masses (not to mention the small-mid business world, even large businesses) knew about BTC and what it could do for them, there would be a demand for it. When there is a demand, it will happen. But demand can't exist for something that is virtually unknown.
Bitcoin needs marketing.
When the demand is present, especially in a market economy, innovation will (and has) overshadowed the will of big businesses and even governments.
Demand is the door, and the key is marketing.
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