What's stopping people from using bitcoin?

[RKing]

The volatility of bitcoin is one of the things that atracted the most investors into the crypto world,sure some people may had losted their money,but they still in this kind of game.Dollars moves around 10% and has a good interest into it,bitcoin moves around 20% and above soo its a high risk investment that may turn into a great return.

The volatility of bitcoin is good for traders treating bitcoin as a tool for making quick money. It is good for the usage of bitcoin.

Any currency with too much volatility will be a useful. Not many people will store it.

[Nahl]

if you see the bitcoin price right now i do believe people won't stop using bitcoin but if the price back to $0.30 just like the first time bitcoin was launched at 2009
probably people will begin to leave bitcoin but i think it's impossible to see bitcoin price down again to $0.30

[Jeremycoin]

The Scams, so many scams happening in this world of Bitcoin.
Cloud mining scams, trading scams, and any other scams.
That's why people stop to use Bitcoin, because they got scammed.

[knowhow]

Well scammers do their things at fiat before and now doing at bitcoin ,nothing new on this area,before bitcoin you got scammed.Bitcoin hasnt achieve its potencial and there is a small people using it ,without a mass adoption and trust on it we will see bitcoin frozen,but we are going to the 7 year online and we are growing in numbers of community as well.

[kryptqnick]

They don't know a thing about it!. That is stopping them mostly. )

[mayax]

The Scams, so many scams happening in this world of Bitcoin.
Cloud mining scams, trading scams, and any other scams.
That's why people stop to use Bitcoin, because they got scammed.

Very good point. Indeed, Bitcoin is based on scams and black market; without them, BTC value would be near zero.

[steveds]

Well scammers do their things at fiat before and now doing at bitcoin ,nothing new on this area,before bitcoin you got scammed.

yes, but there is a difference between fiat scam's and bitcoin .
no one is going to take away the money i am having in some locker in my home ,but it is more likely to get stolen when they are in blockchain or any exchange...You need too many precautions to keep them safe.

[Daniel91]

Based on my experience I can share a few reasons.
First, people are generally not comfortable with new, revolutionary technologies, virtual money etc.
People in general don't trust Internet and even to use credit card online is very scary for most of them.
In my country very few people use bitcoin so it's unknown in the public.
Even if some people heard about bitcoin they don't like very changeable value of bitcoin and also there are no0 so much places where people can use bitcoin in my country.
Hopefully this will change over time.

[knowhow]

Bitcoin is growing slowly ,on the last pump happened of 1000dollars,we saw an interest boom into bitcoin,now see see a small bump of 100 dollars ,this can scary the most ,and atract anothers persons into bitcoin.

[bitmarket.net]

Can bitcoin now pass the "Grandma test" as in "would your grandmother understand how to pay with bitcoins ?"

[RealBitcoin]

The Scams, so many scams happening in this world of Bitcoin.
Cloud mining scams, trading scams, and any other scams.
That's why people stop to use Bitcoin, because they got scammed.

So you stop using fiat cash because so many people get scammed by it: grandma phone scam, e-mail scam, teleshopping scams, shark loans scams,etc...


Thats right, you dont, you get over it, and next time be more careful where you put your money!

[Amph]

Can bitcoin now pass the "Grandma test" as in "would your grandmother understand how to pay with bitcoins ?"

maybe not this grandma, but the next generation for sure, afterall it's not so far away, another 50 years or less and you have a whole new generation, that will accept bitcoin better

[danherbias07]

The Scams, so many scams happening in this world of Bitcoin.
Cloud mining scams, trading scams, and any other scams.
That's why people stop to use Bitcoin, because they got scammed.

So you stop using fiat cash because so many people get scammed by it: grandma phone scam, e-mail scam, teleshopping scams, shark loans scams,etc...


Thats right, you dont, you get over it, and next time be more careful where you put your money!

Everyday there are people who are born to scam. But that is right it does not have to end that way. You can stand again. Claim back what you have lost, then this will be a lesson to you so you wont be scammed again next time.

[lorylore]

well but the key things are it is not easy to scam you. in order to scam you in rl, there is track of evidence left behind. so if phone scam, the phone can be backtracked, if email scam, server provider can block it, and you also need to be very good in IT to be scam becuz u noe how to create account and put $$ inside etc(if you all still can rmb how difficult when we have our cc and how paypal works the first time we try it out), funds get transfer out you can go find bank to revert etc.

however, btc is very easy to get lost and nothing can be done. mtgox curprit still on large, a lot of website scammer run with btc, fake online wallet etc.

[RKing]

The Scams, so many scams happening in this world of Bitcoin.
Cloud mining scams, trading scams, and any other scams.
That's why people stop to use Bitcoin, because they got scammed.

Very good point. Indeed, Bitcoin is based on scams and black market; without them, BTC value would be near zero.

That was bad old time, when bitcoin was mainly used in silkroad. Now, most bitcoin are used in good causes such as legitimate online shopping.

[Gyfts]

Transparency has never been the issue in my opinion. It's been the concept. Irreversible computer digital currency doesn't sit too well for the average middle class citizen of a developed country. Upper class wouldn't bother trading in their wealth to something that has the tenancy to fluctuate and lower class probably won't have enough funds to even get started. It takes a time when a country's currency fails for people to start using bitcoin, and by that time it's usually too late.

[Snorek]

Can bitcoin now pass the "Grandma test" as in "would your grandmother understand how to pay with bitcoins ?"

I think if your Grandma age not yet reached 50, I sure she will understand how to pay using bitcoin in smartphones.

Some people don't like smartphones in general. For example I am using Nokia 3310 as my phone and I never had a smartphone.
The reasoning behind it - I spend to much time in front of my PC already, why would I want to have smartphone?
I will buy one if can use it for bitcoin payments but there is no real life services which accept bitcoin in my vicinity so far.

[BitcoinBlackjack]

People I speak to have no idea how to purchase bitcoins, how wallets work, etc...
When something is the slightly bit confusing, many people completely avoid it

[goinmerry]

People I speak to have no idea how to purchase bitcoins, how wallets work, etc...
When something is the slightly bit confusing, many people completely avoid it

Yes that is how people want everything now.
Simple and easy. No hassles. But that way is too fast also to lose. Everything that have been studied with patience and some hardwork will take you to a higher level. The problem now is people dont want to learn more. They will just stick to what they are doing and thats it.

[NordicRanger]

Some people are afraid of letting go what they're used to

They can't or are not willing to adapt and adjust to it

People feel more secure and safe with what they're used to i guess