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Author Topic: I have stopped introducing bitcoin to others!  (Read 4854 times)
Pursuer
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February 23, 2017, 06:35:01 AM
 #1

after 3 years of introducing bitcoin to other people and getting at least 100 of them into bitcoin I have stopped.

because all these years I have never told anyone bitcoin is an investment, whenever there is talk of bitcoin I first say bitcoin is a currency and show them the benefits of it as a currency, being decentralized as the best thing and then the security and speed and finally the cheap fees and lots more.
then I introduce them to services they can use with bitcoin, and all the discounts they can get.

but honestly I can no longer give any answer to the question saying "why would I pay $0.9-$1 fee for using a new thing called bitcoin that I don't even understand instead of using my credit card for free that I have been using my whole life."

of course I can always start arguing about lots of other things and benefits and start talking about bitcoin being an investment but deep down I agree with them and also I hate telling new people "bitcoin is an investment and you are gonna make profit from price rise", that is just silly.

edit: to those who say credit cards do have fee: https://bitcointalk.org/index.php?topic=1801459.msg17959102#msg17959102

Edit2: I closed this topic since it has turned into a non-constructive spam-fest of people repeating rather similar things and ignoring most of what I said. sorry everyone else.

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February 23, 2017, 06:39:47 AM
 #2

I understand your reasons and why you have made such decision. This could be very hard and sometimes you can get the feeling that you are talking to the wall. But still this is one of the ways how Bitcoin is spread and its the best method to promote Bitcoin because people like to hear from the first hand, so from you as experienced user what are the advantages of using Bitcoin and why should they also do it.

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davis196
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February 23, 2017, 06:44:48 AM
 #3

I discovered bitcoin too late and the main reason was that i didn`t found someone like you before 3 years or even back in 2011.
I have missed so much opportunities with bitcoin and i regret about that.
You should continue promoting bitcoin to newbies.If you convince even 1 person about bitcoin,this is huge.




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February 23, 2017, 06:45:49 AM
 #4

Cant argue with that also. It needs deeper knowledge for them to truly understand which they wont because they want to stay on they convenient zone.
One thing you just have to keep on your mind, that is their opinion and we have ours. We try to share it with them. If they resist then it is fine also. We dont lose anything but they lose the way to see a new beginning or could make their life new.
Those people just want to stay at that comfort zone which is the wrong thinking specially now with all the hard things with the economy.

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February 23, 2017, 06:58:46 AM
 #5

I don't find any difficulty in explaining to people because today people are always looking for new opportunity. Even we are spending low amount for transaction with bitcoin, we are paying very high amounts when we made purchase in wall marts, movies etc. taxes are very high. With bitcoin transaction charges are very low, in this we can easily motivate the people.

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February 23, 2017, 07:01:41 AM
 #6

I discovered bitcoin too late and the main reason was that i didn`t found someone like you before 3 years or even back in 2011.
I have missed so much opportunities with bitcoin and i regret about that.
You should continue promoting bitcoin to newbies.If you convince even 1 person about bitcoin,this is huge.



Even if you buy now, you will be rewarded later.
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February 23, 2017, 07:34:28 AM
 #7

Cant argue with that also. It needs deeper knowledge for them to truly understand which they wont because they want to stay on they convenient zone.
One thing you just have to keep on your mind, that is their opinion and we have ours. We try to share it with them. If they resist then it is fine also. We dont lose anything but they lose the way to see a new beginning or could make their life new.
Those people just want to stay at that comfort zone which is the wrong thinking specially now with all the hard things with the economy.
That's complete bullshit, sorry.  You're not more intelligent because you use an internet currency that pretty much no one accepts, and that costs money to obtain and use.  Get over yourself.  OP is completely right--or rather, the ones arguing against btc as a currency are right.  It's a shitty currency.  End of story.

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February 23, 2017, 07:42:17 AM
 #8

I hate telling new people "bitcoin is an investment and you are gonna make profit from price rise", that is just silly.
Why this is silly point Huh
It is true that if you just keep holding bitcoin without having close eye on market activity than you will actually loss rather than making any profit out of it. So thinking bitcoin as passive way of earning profit is the wrong sentiment.

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February 23, 2017, 07:58:03 AM
 #9

I feel the same. I also do not tell people any more. Bitcoin is still a good store of value and it has other cool feature, like being in charge of my money, pseudonymity and decentralized ledger, but it is no longer cheap and fast to transfer. It never was a currency, since there are no merchants where i can spend it, besides a few. If Bitcoin changes, then maybe i start talking again about it, but right now i can not sell something i do not believe 100% in.

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February 23, 2017, 07:58:39 AM
 #10

I hate telling new people "bitcoin is an investment and you are gonna make profit from price rise", that is just silly.
Why this is silly point Huh
It is true that if you just keep holding bitcoin without having close eye on market activity than you will actually loss rather than making any profit out of it. So thinking bitcoin as passive way of earning profit is the wrong sentiment.

I disagree with you, the transaction fees are getting higher and it is making Bitcoin unpopular especially to the yet to be told and the newbies. I think he made a brilliant point that it's silly to pay so much for a new technology while my conventional credit card charges nothing to perform a similar transaction.



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Rainbot
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February 23, 2017, 08:04:52 AM
 #11

I don't find any difficulty in explaining to people because today people are always looking for new opportunity. Even we are spending low amount for transaction with bitcoin, we are paying very high amounts when we made purchase in wall marts, movies etc. taxes are very high. With bitcoin transaction charges are very low, in this we can easily motivate the people.

let me give you an example. last week I did a business with someone and transferred about (what would be in USD) $2000 in local currency through my bank. I paid 0 fees no tax, it went through safe and fast with no tax.

It's a shitty currency

in general, no. I disagree. there are still lots of other benefits for using bitcoin as a currency. such as anonymity and still cheap money transfer oversees. but as long as the fee war is going on and blocks are full yeah. I still am not going to call it "shitty" though.

I hate telling new people "bitcoin is an investment and you are gonna make profit from price rise", that is just silly.
Why this is silly point Huh
It is true that if you just keep holding bitcoin without having close eye on market activity than you will actually loss rather than making any profit out of it. So thinking bitcoin as passive way of earning profit is the wrong sentiment.

Quote from:
Bitcoin: A Peer-to-Peer Electronic Cash System by Satoshi Nakamoto
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution."
literary the first line.

if we stop using bitcoin as a currency and it starts being a purely investment type of thing, then what Satoshi created will be dead and don't expect much rise after some point either because people are only going to be interested in the $$$ and will dump after each rise to get their $$$ out.

in other words I do believe that bitcoin should be considered a currency first and then because it is a currency and it has lots of demands as a currency its price goes up. otherwise it is a plaything for speculators and regular people have no place in that world.

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February 23, 2017, 08:30:04 AM
 #12

why would I pay $0.9-$1 fee for using a new thing called bitcoin that I don't even understand instead of using my credit card for free that I have been using my whole life.

That proves people who haven't interest and don't want to learn new thing, not fit to use bitcoin. Why? Because vulnerable to: scammed, infected with malware, lost their coins.

I have same experience, unfortunately they not say such thing, they just not really notice me and I think "at least I spread about bitcoin to around me". I don't care they will use or not, they will know themselves.
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February 23, 2017, 08:35:05 AM
 #13

Yeah sure. I hope that you will happy about paying tax to the government lol. I do not know why you like to blame about the fee. Most of the people are getting crazy about the fee while they do not know that thanks to the fee, they will never have to pay tax or something like that. And moreover, you can have a good security and become an anonymous person. LOL keep using FIAT dude and you will become rich with it Cheesy


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February 23, 2017, 08:45:23 AM
 #14

Yeah sure. I hope that you will happy about paying tax to the government lol. I do not know why you like to blame about the fee. Most of the people are getting crazy about the fee while they do not know that thanks to the fee, they will never have to pay tax or something like that. And moreover, you can have a good security and become an anonymous person. LOL keep using FIAT dude and you will become rich with it Cheesy

dude, using bitcoin does not magically exclude you from paying taxes. you are still living inside a country and have to follow the rules of that county, which means you have to report your to the taxman otherwise he is gonna get you Smiley
and if you pay lots of taxes just for using fiat services such as banks it doesn't mean the rest of the word do to!

if you don't believe it and also think you are anonymous then check out who BurtW is and what happened to him. a little help: https://bitcointalk.org/index.php?topic=934268.0

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February 23, 2017, 08:50:23 AM
 #15

They have a good reason, so it's a bit hard to argue with them. Bitcoin is drifting away from it function's as a currency day by day. People see it more as an investment this day rather than a digital currency. It took longer for transaction and it has fee which keep increasing. It's hard to persuade people using bitcoin as a currency that i don't bother to do it anymore.

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February 23, 2017, 08:51:59 AM
 #16

after 3 years of introducing bitcoin to other people and getting at least 100 of them into bitcoin I have stopped.

because all these years I have never told anyone bitcoin is an investment, whenever there is talk of bitcoin I first say bitcoin is a currency and show them the benefits of it as a currency, being decentralized as the best thing and then the security and speed and finally the cheap fees and lots more.
then I introduce them to services they can use with bitcoin, and all the discounts they can get.

but honestly I can no longer give any answer to the question saying "why would I pay $0.9-$1 fee for using a new thing called bitcoin that I don't even understand instead of using my credit card for free that I have been using my whole life."

of course I can always start arguing about lots of other things and benefits and start talking about bitcoin being an investment but deep down I agree with them and also I hate telling new people "bitcoin is an investment and you are gonna make profit from price rise", that is just silly.

Legit point, but you can answer that bitcoin is much better and faster in remittance service than credit card or debit card. And it is the advantage of bitcoin.

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February 23, 2017, 08:59:28 AM
 #17

let me give you an example. last week I did a business with someone and transferred about (what would be in USD) $2000 in local currency through my bank. I paid 0 fees no tax, it went through safe and fast with no tax.

in general, no. I disagree. there are still lots of other benefits for using bitcoin as a currency. such as anonymity and still cheap money transfer oversees. but as long as the fee war is going on and blocks are full yeah. I still am not going to call it "shitty" though.

Quote from:
Bitcoin: A Peer-to-Peer Electronic Cash System by Satoshi Nakamoto
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution."
literary the first line.

if we stop using bitcoin as a currency and it starts being a purely investment type of thing, then what Satoshi created will be dead and don't expect much rise after some point either because people are only going to be interested in the $$$ and will dump after each rise to get their $$$ out.

in other words I do believe that bitcoin should be considered a currency first and then because it is a currency and it has lots of demands as a currency its price goes up. otherwise it is a plaything for speculators and regular people have no place in that world.

The $2000 transfer across international borders is still a valid use case for bitcoin as a currency, but the number of valid use cases for bitcoin keeps decreasing! The profit from speculation is all based on adoption of bitcoin increasing while the utility of bitcoin increases. The network effect is key to the valuation of bitcoin. The utility of bitcoin is currently decreasing (look at the record-sized mempool today!), and adoption may well start to decrease soon. This would be truly sad to see.
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February 23, 2017, 09:33:54 AM
 #18

Oh i could rant.. i could REALLY rant Wink

But OP you are wrong.. ever heard of credit card fee's ?
Like paying 25% ?
Those transactions are not "free"

But i gave up when i had a guy say "fuck Bitcoin, i just want to make money off it" ..3 years ago

What ? am i suppose to recommend using it when it takes days to have a purchase go through ?
I sold BTC on LocalBtcoins and i got the Interac eTransfer confirmation email immediately with NO wait !
It cost one dollar flat rate.
Straight to the bank account to spend immediately.

What ? am i suppose to tell noobs they have to use a calculator to figure out what fee will get their TX done in 24 hours ?

Oh trust me there is far more negatives than that too.
Bitcoin has to get it's shit together and fast.

FUD first & ask questions later™
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February 23, 2017, 10:06:06 AM
 #19

I would agree if you say we shouldn't introduce bitcoin to others since bitcoin have problems such as slow transaction confirmation, small blocksize or only debate with troll and never do something really useful Roll Eyes
However, i should let you know that credit cards have some additional/hidden fees when we make transaction, receive administration letters and other minor fees that most users never realize and we should try introducing bitcoin to others again when bitcoin problems have been resolved.

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February 23, 2017, 10:15:18 AM
 #20

I have to admit that what got me into bitcoin is the potential for it to be a great investment, and iso far it has not disappointed me. I think we just have to live with bitcoin attracting more users from the investment side rather than as a currency. Just like what most of you are saying, it is hard to defend something that doesn’t get things done the way it should.


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