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Author Topic: Bitcoins For The Common Street Moron?  (Read 1105 times)
bonker
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June 28, 2011, 02:15:26 PM
 #1

One of the big things holding Bitcoin back from the bigtime is that the average office drone doesn't understand it.
Whenever I raise the subject, I get that all too familiar glazed look of someone too lazy to activate their brains. They
just don't want to understand.

It reminds me of the home computer and internet booms, people only get on-board once a) they are compelled to for work and
b) its mashed up and dumbed down for them not to have to think

So what's the best way to wrap up or dumbdown bitcoins down to get the average zombie to use them? Obviously change
 the name for a start

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Timo Y
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June 28, 2011, 02:59:16 PM
 #2

Don't underestimate the "common" people.

Early adopters of new internet technologies are not always who we think they are.

see:
 
http://www.economist.com/node/9249302?story_id=9249302

Quote
It is migrants, rather than geeks, who have emerged as the “most aggressive” adopters of new communications tools

Migrants were doing videoconferencing 5 years before everyone else. Migrants will also be the first large group to adopt bitcoin IMO, not because they find it sexy but out of necessity.

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dan_a
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June 28, 2011, 03:04:00 PM
 #3

Don't underestimate the "common" people.

Early adopters of new internet technologies are not always who we think they are.

see:
 
http://www.economist.com/node/9249302?story_id=9249302

Quote
It is migrants, rather than geeks, who have emerged as the “most aggressive” adopters of new communications tools

Migrants were doing videoconferencing 5 years before everyone else. Migrants will also be the first large group to adopt bitcoin IMO, not because they find it sexy but out of necessity.

That sounds very likely.  A lot of economic migration is people wanting to earn money to send to their families back home - if it's cheaper and easier to use BTC than Paypal or Western Union then it will be used.
Sjalq
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June 28, 2011, 03:12:46 PM
 #4

Don't underestimate the "common" people.

Early adopters of new internet technologies are not always who we think they are.

see:
 
http://www.economist.com/node/9249302?story_id=9249302

Quote
It is migrants, rather than geeks, who have emerged as the “most aggressive” adopters of new communications tools

Migrants were doing videoconferencing 5 years before everyone else. Migrants will also be the first large group to adopt bitcoin IMO, not because they find it sexy but out of necessity.

Insightful

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bonker
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June 28, 2011, 04:37:34 PM
 #5

Don't underestimate the "common" people.

Early adopters of new internet technologies are not always who we think they are.

see:
 
http://www.economist.com/node/9249302?story_id=9249302

Quote
It is migrants, rather than geeks, who have emerged as the “most aggressive” adopters of new communications tools

Migrants were doing videoconferencing 5 years before everyone else. Migrants will also be the first large group to adopt bitcoin IMO, not because they find it sexy but out of necessity.

Nice post, thanks

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Fireball
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June 28, 2011, 08:09:04 PM
 #6

That's true, I also think that bitcoin may be very well accepted as a money transfer system. If there would be good options to cash bitcoins in countries, and that might become a reality soon, hopefully.

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wegotpickles
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June 28, 2011, 08:11:30 PM
 #7

Whats wrong with the name?

I don't think that Bitcoin itself is to complex for the average Joe, its just all the information on exchanges, markets, miners, security and the technical details creates mental overload for people who just want to send their money and be done with it. Being as young as it is there is a storm of information, both true and false, and the important stuff the consumer wants to know has yet to rise to the top.

The biggest hurdle is the low rate of merchant adoption. Why would I want to take time i could spend vegetating to learn if its unlikely there will be anything worth using Bitcoin for? I remember when Paypal was still young and everyone thought it was pointless, insecure, and not widely adopted and it was just easier to enter a credit card number. Now almost every major online retailer accepts Paypal, and so now millions use it.

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Coaster
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June 28, 2011, 08:19:38 PM
 #8

I've been getting a lot of people to contribute to the bitcoin ebook I'm giving away for free. It's a pretty straight forward explanation of bitcoins, the inner-workings and a little expansion on mining (which i understand most people do no approve of adopting any longer -- so I even explain the difficulty level aspects).. If you think you could contribute to it I'd be more than willing to give you full credit in the book.
spruce
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June 28, 2011, 08:32:19 PM
 #9

That's true, I also think that bitcoin may be very well accepted as a money transfer system. If there would be good options to cash bitcoins in countries, and that might become a reality soon, hopefully.

Wouldn't that be a good side-business for almost *anyone at all* who was willing to carry a small float of BTCs? Put up a sign in your regular shop window: "We buy/sell/send Bitcoins" (or whatever is appropriate). A customer comes in and agrees with your rate, say 2.5 BTC = 410 bhugretz.  A receiving address is given on the spot and sent by email or SMS to the sending person. Add a fee to ensure transaction priority. The transaction is sent and verified. Profit of 10 bhugretz. Many people would be willing to pay way over the market rate for the convenience, less as time goes by and there is more competition. But right now in places where there is a lot of money transfer going on? Where you can go down to the store on the corner and don't have to go to the Western Union store five miles away in the bad part of town?

Just as you used to see signs in many shops "We send faxes. $1 per page" (or whatever). It's not the store's main business, just a profitable sideline with a very low entry fee and low running costs for the business owner.
Fireball
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July 30, 2011, 10:34:35 PM
 #10

Wouldn't that be a good side-business for almost *anyone at all* who was willing to carry a small float of BTCs? Put up a sign in your regular shop window: "We buy/sell/send Bitcoins" (or whatever is appropriate). A customer comes in and agrees with your rate, say 2.5 BTC = 410 bhugretz.  A receiving address is given on the spot and sent by email or SMS to the sending person. Add a fee to ensure transaction priority. The transaction is sent and verified. Profit of 10 bhugretz. Many people would be willing to pay way over the market rate for the convenience, less as time goes by and there is more competition. But right now in places where there is a lot of money transfer going on? Where you can go down to the store on the corner and don't have to go to the Western Union store five miles away in the bad part of town?

Just as you used to see signs in many shops "We send faxes. $1 per page" (or whatever). It's not the store's main business, just a profitable sideline with a very low entry fee and low running costs for the business owner.

Very good idea, I also thought about that. In my [humble, because I'm not the earliest bitcoin adopter] opinion, Bitcoin needs more cash<->btc exhangers, real life. And certainly, better exchanges (that's the part I'm working on Smiley)

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