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Gloober
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December 23, 2015, 07:03:17 PM |
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Most people don't know that bitcoin even exist, the people that do know about bitcoin could be not using bitcoin for several reasons:
- they don't understand the concept of bitcoin
- they are afraid of losing money when they start to invest into it
- they don't know anyone who are into bitcoin, so if something goes wrong, they won't know who to turn to
- or they just don't believe bitcoin would be a benefit to them
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Emersonnets
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Activity: 126
Merit: 100
The trouble is you think you have time.
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December 23, 2015, 07:08:01 PM |
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Most people don't know that bitcoin even exist, the people that do know about bitcoin could be not using bitcoin for several reasons:
- they don't understand the concept of bitcoin
- they are afraid of losing money when they start to invest into it
- they don't know anyone who are into bitcoin, so if something goes wrong, they won't know who to turn to
- or they just don't believe bitcoin would be a benefit to them
You're right, those are indeed the most common reasons as to why people don't get into bitcoin. Some people know but they just simply don't believe how much potential bitcoin has |
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extrabyte
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Merit: 1000
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December 23, 2015, 07:38:57 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?
and when it is hard to get/buy them, another reason is maybe the confirmation that takes a transaction to be confirmed, if there are more ATM more merchant people will naturally be interested in bitcoin. |
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nerFohanzo
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December 23, 2015, 09:17:33 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?
and when it is hard to get/buy them, another reason is maybe the confirmation that takes a transaction to be confirmed, if there are more ATM more merchant people will naturally be interested in bitcoin. Confirmation is the minimal issue, but the main reason behind stopping people using bitcoins is the awareness level as very few people are aware about the bitcoins in the surrounding, we want that the adoption level should be high but we don't let them know that we are holding bitcoins as we don't want that they should also start earning bitcoins and that is the human nature, we are only concerned with our success and our earnings. |
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randy8777
Legendary
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Activity: 896
Merit: 1000
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December 23, 2015, 09:35:25 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 some times visit a cafe close to where i live, where you can pay with bitcoin. i just scan the qr code and the coins are sent, and i have my beer. it's that quick. they don't require you to wait for 1 confirmation. |
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HarryKPeters
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December 23, 2015, 09:44:08 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 some times visit a cafe close to where i live, where you can pay with bitcoin. i just scan the qr code and the coins are sent, and i have my beer. it's that quick. they don't require you to wait for 1 confirmation. Yeah I don't know where this comment is coming from. Normally when being in a shop, you just scan the the QR code and transfer your coins. From there you are good to go. No waiting list for people who paid with bitcoin. |
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Zaun
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December 23, 2015, 09:52:31 PM |
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I think they are not informed on all of the features bitcoin has.
More information about what bitcoin can do and what it is meant for regarding payments etc.
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grapple
Newbie
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Activity: 41
Merit: 0
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December 23, 2015, 10:02:31 PM |
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i think its the possibility that bitcoin price can decrease very fast
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Zaun
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December 23, 2015, 10:47:21 PM |
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i think its the possibility that bitcoin price can decrease very fast
True volatility scares the hell out of me too. Let's hope we have find some stable grounds now. This is a good price for bitcoin if you compare it with a steady progress from 199 2013 (before the hype) |
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shugareward
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December 23, 2015, 10:54:01 PM |
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i think the main reason is price fluctuations
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Epicnicity
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Activity: 110
Merit: 10
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December 23, 2015, 10:56:05 PM |
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i think its the possibility that bitcoin price can decrease very fast
True volatility scares the hell out of me too. Let's hope we have find some stable grounds now. This is a good price for bitcoin if you compare it with a steady progress from 199 2013 (before the hype) This scares me as well but that's just the chance you take when you are investing into bitcoin. I believe that bitcoin has potential to grow in the upcoming years but there's always that chance that bitcoin can fail or die out. |
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Quazi
Newbie
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December 23, 2015, 10:59:46 PM |
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I think people find it more convenient to use fiat. That is what is stopping people from using Bitcoin. Why would I go to a store that accepts Bitcoin when I could simply go to a store that accepts normal currency.
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HarryKPeters
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December 23, 2015, 11:29:07 PM |
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I think people find it more convenient to use fiat. That is what is stopping people from using Bitcoin. Why would I go to a store that accepts Bitcoin when I could simply go to a store that accepts normal currency.
It's convenient in a lot of cases but not all. Speed and cost are very important tactors taken in account when it comes down to financial transactions. The bitcoin wallet should could use a revamp, followed by some a educational marketing campaign to create more awareness. This could be the step needed for it to get more attention. |
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randy8777
Legendary
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Activity: 896
Merit: 1000
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December 23, 2015, 11:47:23 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 some times visit a cafe close to where i live, where you can pay with bitcoin. i just scan the qr code and the coins are sent, and i have my beer. it's that quick. they don't require you to wait for 1 confirmation. Yeah I don't know where this comment is coming from. Normally when being in a shop, you just scan the the QR code and transfer your coins. From there you are good to go. No waiting list for people who paid with bitcoin. for small things there is indeed no need for confirmations. if the amount is higher than $50-$100 then they may ask for at least 1 confirmation. once i go to that cafe again i will ask them what their limit is for no confirmation payments. |
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sukamasoto
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Activity: 1148
Merit: 1006
Black Panther
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December 24, 2015, 12:01:39 AM |
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I think the lack of acknowledgement about bitcoin, most of them answer they are afraid of the wallet security is not secured enough and then because bitcoin still through process of adaptian so untill now not many stores accept bitcoin, so they feel kind of useless collecting bitcoin but cant spend on what they want
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lixer
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December 24, 2015, 10:18:52 AM |
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I think the lack of acknowledgement about bitcoin, most of them answer they are afraid of the wallet security is not secured enough and then because bitcoin still through process of adaptian so untill now not many stores accept bitcoin, so they feel kind of useless collecting bitcoin but cant spend on what they want
But in my locality most of people are aware about Btc and its usage. When I offered some of my online employees in terms of BTC, they all refused to accept being doubtful of its security. No doubt it is gaining popularity in countries like Indonesia but its ban in some nations and lack of stores accepting BTC in others stop people from using it. |
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Hellacopter
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December 24, 2015, 02:26:11 PM |
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I think many people don't know enough about bitcoin and crypto currencies generally, or may be they have wrong ideas about this currencies. That's why they don't use bitcoin usually. And that's why the bitcoin's community should advertise more Bitcoin
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Gloober
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December 24, 2015, 02:48:04 PM |
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I think a lot of people know about and of bitcoin. I think they just simply don't believe there's a future in bitcoin.
Some don't want to waste their time on something they don't believe in. Some know about it but don't want to use it since all they hear about bitcoin is that it's being used for criminal activities.
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kheein
Sr. Member
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Activity: 686
Merit: 251
Turn your financial ideas into reality
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December 24, 2015, 02:58:00 PM |
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stopping people from using bitcoin cause of bitcoin worthless when compared to the other currencies as well as all countries have condemned the bitcoin users, but it does not apply now because I read in the news that bitcoin is the currency exchange rate continues to rise .
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ATguy
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December 24, 2015, 03:30:51 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?
and when it is hard to get/buy them, another reason is maybe the confirmation that takes a transaction to be confirmed, if there are more ATM more merchant people will naturally be interested in bitcoin. I dont think Bitcoin ATM will help, these have so high fees it is basically the same or worse as credit card fees. Without getting paid in Bitcoin, it does not make economical sence buying Bitcoins at ATM in order spending these Bitcoins. |
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