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Author Topic: [2017-06-20] Bitcoin is rising in value but losing momentum with users  (Read 3119 times)
elite3000
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June 21, 2017, 03:14:42 AM
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For digital-marketing agency Cooperatize.com, taking bitcoin for payment was easy enough. All co-founder Roger Wu had to do was obtain a digital wallet. To promote the move in 2014, he even penned a blog post for Forbes explaining the decision.

The number of bitcoin transactions the New York-based firm has made since? Zero.

“The biggest thing is, are people willing to pay in bitcoin?” Wu said. “The reality is that most of our customers are other businesses, and other businesses don’t use bitcoin.”

http://www.startribune.com/bitcoin-is-rising-in-value-but-losing-momentum-with-users/429755443/

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TheButterZone
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June 21, 2017, 03:30:07 AM
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Never heard of that site.

Saying that you don't trust someone because of their behavior is completely valid.
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June 21, 2017, 09:04:07 AM
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Bitcoin has never really been used to purchase goods, because the point is that people don't want to use a tool for purchasing stuff that goes up significantly afterwards. In the same way, it can go down significantly as well. In this case people won't mind having spent their coins if the price goes down afterwards, but what if the price goes down before you purchase something? You either need to add more BTC to purchase the same goods, or you just don't buy it anymore. People aren't interested in such inconveniences...

The co-founder is named Roger Wu? Funny coincidence. Cheesy

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June 21, 2017, 03:00:04 PM
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So one marketing agency implemented Bitcoin payments with no clear business case or promotion?

Okay...

How is this a Bitcoin problem? Sounds like someone doesn't know how to run their business properly or even communicate with their users.

fortitudinem multis - catenum regit omnia
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June 21, 2017, 03:06:11 PM
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Well, this is not really surprising. Why? Based on my own experience, it is because many Bitcoin holders are actually "investors" meaning they are expecting that they can earn more value for Bitcoin as time goes by...so there is actually no point in using Bitcoin to buy goods or services.

I use Bitcoin to buy, yes of course, but it is in the exchanges like Poloniex or Bittrex and that is to buy more altcoins so that if I can hit some jackpots then my Bitcoin would earn more Bitcoin.

Now, we can expect more and more people to use Bitcoin for payment once the value will stabilize on a certain level...just like how we use PayPal in the past.

But let me ask this question: is this development detrimental to the future of Bitcoin?
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