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YoonYeonghwa
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December 22, 2015, 08:52:15 AM |
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Bitcoin is virtual and digital. We cannot touch and feel like fiat money. How does it have value? Another important factor is the strong volatile price.
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LuckyYOU
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December 22, 2015, 08:57:13 AM |
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I think one of the problems we have is that too many people are holding and not actually spending, so when websites do decide to accept btc they don't get enough sales with it to make it worthwhile.
I think that more people would be spending if bitcoin was available as payment though. Right now there's very little sites that have bitcoin as payment. I think holding bitcoins has a bit to do with not being able to spend as well. |
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Altynbekova
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December 22, 2015, 09:28:22 AM |
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Bitcoin is virtual and digital. We cannot touch and feel like fiat money. How does it have value? Another important factor is the strong volatile price.
It holds value since the market is growing on a daily basis. If it didn't held any value, you wouldn't be able to earn it or buy it with fiat. |
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Hapucerty
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Activity: 43
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December 22, 2015, 09:54:12 AM |
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One reason for people not using bitcoin is that it is not issued by governments, so there is no protection from the governments.
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chichidori
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Activity: 1694
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December 22, 2015, 09:57:52 AM |
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one of big the reason is,, it can`not be refunded and the scams are always on the side line, bitcoin will remain like an assets that can be traded to any stocks that have a dollar value.
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coinplus
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December 22, 2015, 12:31:27 PM |
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One reason for people not using bitcoin is that it is not issued by governments, so there is no protection from the governments.
There is no seize from government side also. The stopping reason you have mentioned might be the one of the reason many people are into bitcoin ecosystem. Bitcoin provides freedom in many aspects. |
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orryde
Sr. Member
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Re-Evolution
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December 22, 2015, 10:24:21 PM |
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It's volatility
I would go as far as to say thats the ONLY reason why Bitcoin is not mainstream right now.
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goinmerry
Legendary
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Activity: 2940
Merit: 1083
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December 23, 2015, 01:47:52 PM |
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one of big the reason is,, it can`not be refunded and the scams are always on the side line, bitcoin will remain like an assets that can be traded to any stocks that have a dollar value.
Because it is like your own back. You handle everything even the decision making if you are investing to something. So it will be the owners fault if he will be scammed or not. |
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baazju
Member
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Activity: 98
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December 23, 2015, 02:35:15 PM |
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People don't want to spend the time to understand bitcoin. Until the process to buy/sell can be streamlined and simple most people won't want to use it. Imagining older people use it almost makes me laugh. There is no way they will figure it out. Once large companies (Amazon, Google, eBay, etc...) adopt it and make it more accessible then it will never be. Also the volatility as other have said... but as long as more people begin to use the price can only go up, that is the great thing about bitcoin!
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Beware of scammers.
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Luqman
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December 23, 2015, 02:38:04 PM |
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There are many answers to this question. My simple answer is that nothing is stooping people from using Bitcoin, but Bitcoin is not well know enough. That is the real problem.
Agreed, our real problem is bitcoin doesn't well known enough, it's kinda hard telling people about bitcoin.. |
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DavidoAlto
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December 23, 2015, 02:40:01 PM |
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At first I was not using bitcoin, because I was afraid that I would lose it with no good secure system.
So that is one of the reason people are not using and is something new that they don't have experience.
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Luqman
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December 23, 2015, 02:40:22 PM |
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One reason for people not using bitcoin is that it is not issued by governments, so there is no protection from the governments.
No, the way bitcoin is not controlled by anyone even government is kinda bitcoin advantages, is really suit for people that love freedom.. |
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conio.h
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December 23, 2015, 02:42:13 PM |
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One reason for people not using bitcoin is that it is not issued by governments, so there is no protection from the governments. I mean in the society we live in today the priority of every person is security and guarantee of everything. If something goes wrong in a bank transaction you can blame the bank it is not the case with bitcoin.
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goinmerry
Legendary
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Activity: 2940
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December 23, 2015, 02:43:48 PM |
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At first I was not using bitcoin, because I was afraid that I would lose it with no good secure system.
So that is one of the reason people are not using and is something new that they don't have experience.
Yes that is at the first time you use it. But gaining more knowledge will make you more trusting using this currency. That is why so many people dont want it. Lack of knowledge is simply the best answer that is why they are neglecting BITCOIN. |
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Parazyd
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December 23, 2015, 02:44:37 PM |
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The amount of time between using bitcoins to pay for a cup of coffee.
Until this is as short as paying with fiat, there will be no MASS adoption.
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baazju
Member
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December 23, 2015, 04:00:40 PM |
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The amount of time between using bitcoins to pay for a cup of coffee.
Until this is as short as paying with fiat, there will be no MASS adoption.
I don't know about you but when I pay for coffee it typically takes quite a while to reflect on my account. Just like bitcoin the transaction has to be confirmed and that can take some time, especially during holidays and weekends. Bitcoin is similar in that it needs to be confirmed, but the benefit is there are no holidays or weekends for bitcoin. There does need to be some improvement in how transactions work though. Anyways, people overdraw their accounts all the time with fiat currency. It is easy to forget how insecure fiat currency is. |
Beware of scammers.
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RealBitcoin
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December 23, 2015, 04:45:40 PM |
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What's stopping people from using bitcoin? Their sheep genes. Most people are domesticated zombies that feel comfortable with their pseudo-comfort and their unconditional positive attutude no matter how the world is going to crap around them. If they would stop being sheep, they would have already joined bitcoin. So far we only have the opportunists in bitcoin, the sheeps havent joined yet, so I salute you all of you guys who are opportunists and are thinking independently  Who cares about the sheeps anyway? |
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tyz
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Activity: 3360
Merit: 1533
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December 23, 2015, 06:51:39 PM |
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One of the main reasons definitely is that there are too few merchants and shops which accept Bitcoin. Why should somebody "normal" use Bitcoin as payment option when it is hard to spend them?
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knowhow
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December 23, 2015, 06:53:23 PM |
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The fact of there still being made new coins and scamming bitcoins in the process,sure damage the concept of bitcoin,i dont understand why people keep creating coins instead being using the current ones ,as i know have been made for everything you may need,one of them is bitcoin.People wont come into bitcoin without a big company make a step to accept them.
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Denker
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Activity: 1442
Merit: 1016
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December 23, 2015, 06:56:20 PM |
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The amount of time between using bitcoins to pay for a cup of coffee.
Until this is as short as paying with fiat, there will be no MASS adoption.
This isn't the first use case people will look for when using Bitcoin. Speculation and bringing money over boarders while national currencies are diving is why Bitcoin will be used. Your case will be relevant in a few years, when hedge fonds, big financial investors etc. already will have driven up Bitcoin's price. For mass adoption using Bitcoin as currency is not needed in first place! |
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