Why Bitcoin may now level off...

[UnDerDoG81]

Buying bitcoins is too complicated and takes too long for a normal user. On Bitcoin Black Friday, I´ve read in a few other communitys about how it sucks to buy Bitcoins quickly with all this ID check, then sent money from your bank to your BTC Account, buy them. All in all it takes 5-10 days to buy a Bitcoin if you never did before. Way too long to buy quickly something. On Black Friday many people were pissed that there is no other alternative payment method then BTC to buy that offer.

Why ever should somebody do this, only to pay things with BTC?

And then there is the security problem. The more the price raises, the more morons try to steal BTCs from others. Oh and the paper wallet! Well, I´m in Computers for over 20 years now but I really dont get it how to safely bring your Bitcoins on paper. And actually, letting them on Mtgox or on my Wallet on the PC does not feel good at all. And then, you need x backups.

And wow, as I ve readed this, I was shocked! You have to move all your Bitcoins from your paper wallet to your real wallet or the BTCs on the paper wallet get lost  

Who really can know this? You try to move 1 BTC from your paper to your BTC wallet and lose 99 Coins or ~110.000$ because you dont know this information.

Things are way too complicated for normal people. When things will get easier and safe, then more people will get into Bitcoins but at the moment it is only for nerds.

FIAT or Gold cant get stolen by some nerd who sits in front of his PC and do some coding. Ok, except from the banc account. But who lets hundredthousands of dollars on his banc account.

Bitcoin has some massive security problem (for a normal person, an nerd can use some superduper unhackable codes and passwords).

[1714656158]

1714656158

[Tirapon]

Well, I'm in Computers for over 20 years now but I really don't get it how to safely bring your Bitcoins on paper.

I had 0 experience in IT before discovering Bitcoin (other than simply being able to use a computer). It took me about 2 days to learn about secure offline storage. Make a bit more effort.

[wobber]

Who really can know this? You try to move 1 BTC from your paper to your BTC wallet and lose 99 Coins or ~110.000$ because you dont know this information.

Care to explain? I have some counter arguments

[raid_n]

Well, I'm in Computers for over 20 years now but I really don't get it how to safely bring your Bitcoins on paper.

I had 0 experience in IT before discovering Bitcoin (other than simply being able to use a computer). It took me about 2 days to learn about secure offline storage. Make a bit more effort.

While it is far from ideal that clients like bitcoin-qt automatically generate a new private/public key for the remainder of the output I find it hard to believe that anyone remotely interested in how to use a paper wallet could not account for this. Just use the paper wallet as a one time "coupon" and transfer the remainder of your funds in a new paper wallet. Problem solved and much more secure anyways because the used wallet's private key already had "contact" with the net.

What is there not to understand about a paper wallet? There is a public key to which you can transfer funds and a private key that allows you to spend.
The only difference to the digital form is that it is written on paper!

[edit] Oh, an it IS possible to specify the used paper wallet's address as the remainder output in some clients [/edit]

[coraz]

Well, I´m in Computers for over 20 years now but I really dont get it how to safely bring your Bitcoins on paper.

• Buy a cheap netbook. Never connect it to Internet (disabling wi-fi in BIOS or device manager is best)
• Install Armory and run it in Offline mode
• Create a new wallet and print a paper backup of it
• Never worry about change addresses again!

There you go.

[UnDerDoG81]

Well, I´m in Computers for over 20 years now but I really dont get it how to safely bring your Bitcoins on paper.

• Buy a cheap netbook. Never connect it to Internet (disabling wi-fi in BIOS or device manager is best)
• Install Armory and run it in Offline mode
• Create a new wallet and print a paper backup of it
• Never worry about change addresses again!

There you go.

Sounds easy. For sure. But not for, lets say, Frank from the pet shop who uses his computer only to write letters to his big love in France. Frank does not know how to create an own E-Mail adress or how to use his computer as an Internet Kiddie, born in the 2000s.

You guys know what I mean but dont accept it

It is too complicated. Not as easy as using simple FIAT Cash to buy something.

[rupy]

It will get easy, too easy, just like buying candy easy, but right now people with power want it to be hard.

[Trade101]

It will get easy, too easy, just like buying candy easy, but right now people with power want it to be hard.

for android smartphones there are already several wallets, which make mobile payments with bitcoin quite comfortable
just scan the qr-code and confirm the transaction and the deal is done (sometimes a bit disturbing that
the merchant has to wait for the first confirmation).

[bitleif]

Buying bitcoins is too complicated and takes too long for a normal user. On Bitcoin Black Friday, I´ve read in a few other communitys about how it sucks to buy Bitcoins quickly with all this ID check, then sent money from your bank to your BTC Account, buy them. All in all it takes 5-10 days to buy a Bitcoin if you never did before. Way too long to buy quickly something. On Black Friday many people were pissed that there is no other alternative payment method then BTC to buy that offer.

Why ever should somebody do this, only to pay things with BTC?

And then there is the security problem. The more the price raises, the more morons try to steal BTCs from others. Oh and the paper wallet! Well, I´m in Computers for over 20 years now but I really dont get it how to safely bring your Bitcoins on paper. And actually, letting them on Mtgox or on my Wallet on the PC does not feel good at all. And then, you need x backups.

These aren't bug reports, these are feature requests (and hence business opportunities, for the entrepreneurial minded.) I see a lot of potential to make money in creating user-friendly bitcoin solutions for the masses.

[Coinseeker]

I'm here for the same reason most people are, to make money.  If I want to change the world, I'll go work on something Ripple related.  I just don't view Bitcoin as a currency at all, let alone a world currency.  I view it as speculative commodity that sure knows how to rake in the dough.

Yeah, you're right .. no need to poke around Bitcoin anymore.  No more world-changing here, no sir.  And yeah, it's not really a currency.  Just a bunch of BS that speculators have dumped money into, like all other cryptos except for Ripple.  No real utility.  Nothing more than hype and speculation.  Now, Ripple on the other hand ..

Really man, I can see that it IS all about money with you.  You're basically lying to serve your own ends.  You don't actually believe what you wrote.  It's a reality you would like to create because it benefits your bottom line.  We know you own a bunch of Ripple.  We know you benefit from it gaining acceptance.  Great.  I think many cryptocurrencies can live in parallel and feed one another.  Now off with you.

Except Ripple is not a crypto-currency.  It contains a crypto-currency called XRP but Ripple, is a payment network and distributed exchange.  Maybe learn the difference before talking out of your ass.  Umkay?  

Our monetary issues are not exclusive to some "currency".  Governments can decree anything a currency so creating some new currency, doesn't solve our real problems.  It just attempts to shift monetary power to a different group of people, as if by magic, they will start doing things better than the current capital holders of the world.  Yeah, that's going to happen.  

Edit:  All of crypto-currency is extremely difficult, tedious and unsafe.  This will change with time.  For now, most people aren't going to store loads of money in something they can't trust.  And wisely so.  Simple human error or missing a vital step could cost you all of your money. 

[notme]

Well, I´m in Computers for over 20 years now but I really dont get it how to safely bring your Bitcoins on paper.

• Buy a cheap netbook. Never connect it to Internet (disabling wi-fi in BIOS or device manager is best)
• Install Armory and run it in Offline mode
• Create a new wallet and print a paper backup of it
• Never worry about change addresses again!

There you go.

Sounds easy. For sure. But not for, lets say, Frank from the pet shop who uses his computer only to write letters to his big love in France. Frank does not know how to create an own E-Mail adress or how to use his computer as an Internet Kiddie, born in the 2000s.

You guys know what I mean but dont accept it

It is too complicated. Not as easy as using simple FIAT Cash to buy something.

How do I use this email thing?  I've got your address, but what are all these fields?  CC, BCC, subject, body.  I just want to send a note.  Fuck it, I'm going to the post office.

In other words, give it 5 years.

[rupy]

I don't think Coinseeker sees what is at play here, the really big (and relatively slow) players don't sit around and wait for this kind of opportunity to leave the station completely. Right now there are multiple billions at the gates waiting for some understanding of the stakes... when that barrage is lifted (might take 3 months but not more), we're going to be on the moon. Popular adoption is irrelevant but will enforce this trend.

To invent a new store of value is not something that happens often, in fact it's the first time in human history.

[niothor]

Well, I´m in Computers for over 20 years now but I really dont get it how to safely bring your Bitcoins on paper.

• Buy a cheap netbook. Never connect it to Internet (disabling wi-fi in BIOS or device manager is best)
• Install Armory and run it in Offline mode
• Create a new wallet and print a paper backup of it
• Never worry about change addresses again!

There you go.

Sounds easy. For sure. But not for, lets say, Frank from the pet shop who uses his computer only to write letters to his big love in France. Frank does not know how to create an own E-Mail adress or how to use his computer as an Internet Kiddie, born in the 2000s.

You guys know what I mean but dont accept it

It is too complicated. Not as easy as using simple FIAT Cash to buy something.

How do I use this email thing?  I've got your address, but what are all these fields?  CC, BCC, subject, body.  I just want to send a note.  Fuck it, I'm going to the post office.

In other words, give it 5 years.

Add a 2(5) before it.
I spend 30 minutes at a paypoint robot because of people who need help paying a bill.

[DoomDumas]

1 mBTC is 1 U$..

No problem at all, it could reach 10 U$ per mBTC


Simple !

[Coinseeker]

I don't think Coinseeker sees what is at play here, the really big (and relatively slow) players don't sit around and wait for this kind of opportunity to leave the station completely. Right now there are multiple billions at the gates waiting for some understanding of the stakes... when that barrage is lifted (might take 3 months but not more), we're going to be on the moon. Popular adoption is irrelevant but will enforce this trend.

To invent a new store of value is not something that happens often, in fact it's the first time in human history.

I've already said, if the billionaires and hedge funds want to dump billions into Bitcoin, the price will go up.  That's a given.  Thinking that "mom and pop" are going to buy this thing up to $10,000 or even $100,000 is just delusional.  On the extreme side, only the top 1% could afford to do such so, I think it's you that simply does not live in reality.  

Until it's simple, safe, secure and preferably offers some form of insurance, you'll never see "mom and pop" sink huge money into Bitcoin or anything else, simply to "store" value.  They'd be more likely to just buy gold and stick it in a safety deposit box and that's if they could even afford to "store" $5,000, $10,000 or $100,000.  That latter being a big IF.  Most people are living check to check or just slightly better than that.  

[Tirapon]

You guys know what I mean but dont accept it

We know exactly what you mean. You have been in computers for over 20 years? How easy was it to use email 20 years ago? How easy was it to even connect to the internet?

Yeah, no wonder that whole internet thing never reached any sort of mainstream adoption...

Are you really so short sighted?

[BittBurger]

You have to move all your Bitcoins from your paper wallet to your real wallet or the BTCs on the paper wallet get lost  

Who really can know this? You try to move 1 BTC from your paper to your BTC wallet and lose 99 Coins or ~110.000$ because you dont know this information.

I don't know who said this but its wrong.

Nothing happens to coins on a paper wallet.  You probably read the sentence wrong.  He probably said you *could* lose something that is on paper.

Meaning, its possible to misplace it.  The coins don't sometimes "get lost" from paper wallets.

In fact, the coins aren't really there.  They aren't anywhere.   The blockchain is an accounting ledger, documenting where the wealth is.

The wealth is virtual.  The paper wallet just houses the private key.  And its the private key that unlocks your ability to move the coins from their location documented in the ledger.

There are no coins on your paper wallet, and they can't be lost.

[scarsbergholden]

do people really believe that those going to buy bitcoin don't understand that they can buy divisible amounts? i don't believe that for a second. they realize it the second they go to place an order. people are stupid, but not that stupid.

[Frost]

Buying bitcoins is too complicated and takes too long for a normal user. On Bitcoin Black Friday, I´ve read in a few other communitys about how it sucks to buy Bitcoins quickly with all this ID check, then sent money from your bank to your BTC Account, buy them. All in all it takes 5-10 days to buy a Bitcoin if you never did before. Way too long to buy quickly something. On Black Friday many people were pissed that there is no other alternative payment method then BTC to buy that offer.

Why ever should somebody do this, only to pay things with BTC?

And then there is the security problem. The more the price raises, the more morons try to steal BTCs from others. Oh and the paper wallet! Well, I´m in Computers for over 20 years now but I really dont get it how to safely bring your Bitcoins on paper. And actually, letting them on Mtgox or on my Wallet on the PC does not feel good at all. And then, you need x backups.

And wow, as I ve readed this, I was shocked! You have to move all your Bitcoins from your paper wallet to your real wallet or the BTCs on the paper wallet get lost  

Who really can know this? You try to move 1 BTC from your paper to your BTC wallet and lose 99 Coins or ~110.000$ because you dont know this information.

Things are way too complicated for normal people. When things will get easier and safe, then more people will get into Bitcoins but at the moment it is only for nerds.

FIAT or Gold cant get stolen by some nerd who sits in front of his PC and do some coding. Ok, except from the banc account. But who lets hundredthousands of dollars on his banc account.

Bitcoin has some massive security problem (for a normal person, an nerd can use some superduper unhackable codes and passwords).

Best message of the thread here. You descriped the reasons why bitcoin will fail hard if it wont become easier to manage bitcoins. I am a nerd but my mom, my grandma and grandpa, my uncle and so on.... do you all believe they will understand how to trade with bitcoins? Lol! I have to laugh if you seriously believe in that. Thumps up for your great post!

[gla22]

Hehe, what do you think happens to a government without currency?

Is this a serious question?

Is this a serious question?

Is this a serious question?