aminorex
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Activity: 1596
Merit: 1030
Sine secretum non libertas
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August 12, 2014, 10:29:30 PM |
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Everyone and their hairdresser is now aware of bitcoin...
I ask at least one cab driver every week whether they have ever heard of bitcoin, and have done for the past year. Keep in mind that these people are overwhelmingly recent immigrants who make regular remittances to family overseas, a first-order use case for bitcoin, which would save them as much as 10% on transfers of thousands of dollars each year. Exactly one has ever heard of bitcoin.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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aminorex
Legendary
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Activity: 1596
Merit: 1030
Sine secretum non libertas
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August 12, 2014, 10:31:23 PM |
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Some investors cannot invest in Bitcoin because of regulatory concerns. The EFT enables huge amounts of money to be invested with no friction
Also, lack of a clue, and fear of goxing. Solved by renting a clue and a karpeles from a twinkie.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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BTCtrader71
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August 12, 2014, 11:28:22 PM |
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Tell me why exactly investors will rush to buy in to an under performing asset just because it's packaged into an ETF? Everyone and their hairdresser is now aware of bitcoin... if they had wanted to invest in it, they would have invested in it. Clearly, the last 9 months are telling us something: they're not.
Some investors cannot invest in Bitcoin because of regulatory concerns. The EFT enables huge amounts of money to be invested with no friction Also: some investors won't invest in Bitcoin because their financial advisors don't recommend it, and their financial advisors don't recommend it because they can't get a commission out of selling it.
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BTC: 14oTcy1DNEXbcYjzPBpRWV11ZafWxNP8EU
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HeliKopterBen
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August 13, 2014, 12:41:34 AM |
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Delusional. Summer vacation lull is a myth, and this community puts way too much emphasis on the Twinklevoss ETF. Tell me why exactly investors will rush to buy in to an under performing asset just because it's packaged into an ETF? Everyone and their hairdresser is now aware of bitcoin... if they had wanted to invest in it, they would have invested in it. Clearly, the last 9 months are telling us something: they're not.
950,000% gain in 4 years = underperforming
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Counterfeit: made in imitation of something else with intent to deceive: merriam-webster
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log2exp
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August 13, 2014, 02:02:51 AM |
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Question: what if the Federal Reserve starting to gradually increase the interest, say .5% per 6 months, what kind of impact on coins' price?
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explorer
Legendary
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Activity: 2016
Merit: 1259
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August 13, 2014, 05:38:07 AM |
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Everyone and their hairdresser is now aware of bitcoin...
I ask at least one cab driver every week whether they have ever heard of bitcoin, and have done for the past year. Keep in mind that these people are overwhelmingly recent immigrants who make regular remittances to family overseas, a first-order use case for bitcoin, which would save them as much as 10% on transfers of thousands of dollars each year. Exactly one has ever heard of bitcoin. I have met exactly zero people that have heard of bitcoin. Granted, I don't get out much. But it still brings home just how early this is in the adoption phase. Crazy. I will be financially set free before the overwhelming majority of people catch on, and yet I thought I was somewhat late to the party. Amazing times ahead!
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explorer
Legendary
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Activity: 2016
Merit: 1259
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August 13, 2014, 05:42:07 AM |
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Question: what if the Federal Reserve starting to gradually increase the interest, say .5% per 6 months, what kind of impact on coins' price?
Since that would likely be enough to tip the US and the western world over the edge, I would say bullish for bitcoin Unlikely to happen though, IMO.
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jaberwock
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Activity: 2702
Merit: 1127
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August 13, 2014, 06:26:25 AM |
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Question: what if the Federal Reserve starting to gradually increase the interest, say .5% per 6 months, what kind of impact on coins' price?
Short term US will value, but it may hurt the economy, and make people go to more traditional investing, so I guess short time good for Bitcoin. But big interest will ruin even more their public finances, then we wil probably see a big crysis and Bitcoin gaining value
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nioc
Legendary
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Activity: 1624
Merit: 1008
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August 13, 2014, 06:30:42 AM |
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Everyone and their hairdresser is now aware of bitcoin...
I ask at least one cab driver every week whether they have ever heard of bitcoin, and have done for the past year. Keep in mind that these people are overwhelmingly recent immigrants who make regular remittances to family overseas, a first-order use case for bitcoin, which would save them as much as 10% on transfers of thousands of dollars each year. Exactly one has ever heard of bitcoin. I have met exactly zero people that have heard of bitcoin. Granted, I don't get out much. But it still brings home just how early this is in the adoption phase. Crazy. I will be financially set free before the overwhelming majority of people catch on, and yet I thought I was somewhat late to the party. Amazing times ahead! The only people I find that have heard of btc are people in finance. This month I met a lawyer/cpa who although he knew of btc, his reaction made it clear he didn't understand and/or have interest in it. I'm trying to convince a friend to buy some btc and I recently met with their certified financial planner as I'm nobody. Although the cfp had heard of btc he didn't know much about it. I emailed some info and links before we met but he hadn't been able to follow the links as his home internet was down. We spoke for 1/2 an hour and although it was a lot to take in he seemed to understand the basics and asked VERY GOOD questions. When I left he was looking forward to learning more. He basically does the same thing day in and day out which leads to boredom and now he has something new and exciting to stimulate his mind. I'll see what happens when he gets back from vacation.
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rocks
Legendary
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Activity: 1153
Merit: 1000
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August 13, 2014, 06:37:54 AM |
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Tell me why exactly investors will rush to buy in to an under performing asset just because it's packaged into an ETF? Everyone and their hairdresser is now aware of bitcoin... if they had wanted to invest in it, they would have invested in it. Clearly, the last 9 months are telling us something: they're not.
Some investors cannot invest in Bitcoin because of regulatory concerns. The EFT enables huge amounts of money to be invested with no friction Also: some investors won't invest in Bitcoin because their financial advisors don't recommend it, and their financial advisors don't recommend it because they can't get a commission out of selling it. In my experience "financial advisers" at the retail or lower private wealth management levels have exactly zero useful advise to share, and simply parrot the exact same useless advise you can pick up in your average issue of Forbes or Money Magazine. (i.e. always use index funds, use stock/bond ratios based on age, etc) The real investors (VCs, PE funds, etc.) are starting to move more and more into bitcoin. These are the people to watch. Just look at the silk road coins, 100% picked up by the same VC to bootstrap a new service. Investment by these investors is accelerating, and there are deep pockets there.
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rpietila (OP)
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Merit: 1036
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August 13, 2014, 11:17:46 AM |
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And more - many are ready to invest, but think they are so smart as to be able to catch a bottom. Sometimes they manage pretty well, cf. my first buy at $3 after my decision to invest was already made before the spike to $32 but the price just wasn't right for several months.
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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upupup
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August 13, 2014, 11:25:40 AM |
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Everyone and their hairdresser is now aware of bitcoin...
I ask at least one cab driver every week whether they have ever heard of bitcoin, and have done for the past year. Keep in mind that these people are overwhelmingly recent immigrants who make regular remittances to family overseas, a first-order use case for bitcoin, which would save them as much as 10% on transfers of thousands of dollars each year. Exactly one has ever heard of bitcoin. Regular Joe wont go to bitcoin because of fear to be hacked. Unless one will create way to keep bitcoins safe from bad guys and easy system how to pay for goods and services, mainstreamers will stay away from BTC. Myself I'm tech guy and even I cannot sleep at night because of fear being hacked. Imagine someone not that techy, family with kids who use that computer to play games, install screensavers with all the viruses and keylogers. I dont see adoption without 100% security solution.
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Vanderi
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August 13, 2014, 12:14:17 PM |
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Everyone and their hairdresser is now aware of bitcoin...
I ask at least one cab driver every week whether they have ever heard of bitcoin, and have done for the past year. Keep in mind that these people are overwhelmingly recent immigrants who make regular remittances to family overseas, a first-order use case for bitcoin, which would save them as much as 10% on transfers of thousands of dollars each year. Exactly one has ever heard of bitcoin. Regular Joe wont go to bitcoin because of fear to be hacked. Unless one will create way to keep bitcoins safe from bad guys and easy system how to pay for goods and services, mainstreamers will stay away from BTC. Myself I'm tech guy and even I cannot sleep at night because of fear being hacked. Imagine someone not that techy, family with kids who use that computer to play games, install screensavers with all the viruses and keylogers. I dont see adoption without 100% security solution. Like they say in the middle-east - "trust God but tie your camel at night."
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calim
Newbie
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Activity: 17
Merit: 0
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August 13, 2014, 02:08:58 PM |
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Everyone and their hairdresser is now aware of bitcoin...
I ask at least one cab driver every week whether they have ever heard of bitcoin, and have done for the past year. Keep in mind that these people are overwhelmingly recent immigrants who make regular remittances to family overseas, a first-order use case for bitcoin, which would save them as much as 10% on transfers of thousands of dollars each year. Exactly one has ever heard of bitcoin. Regular Joe wont go to bitcoin because of fear to be hacked. Unless one will create way to keep bitcoins safe from bad guys and easy system how to pay for goods and services, mainstreamers will stay away from BTC. Myself I'm tech guy and even I cannot sleep at night because of fear being hacked. Imagine someone not that techy, family with kids who use that computer to play games, install screensavers with all the viruses and keylogers. I dont see adoption without 100% security solution. Fear of being hacked. An easy to use and nearly unhackable wallet. An easy to use and nearly unhackable means of obtaining bitcoin. These are all still hurdles for the regular joe. I had a 50 year old programmer co-worker on coinbase, trying to set up an account so he could start buying BTC. The process was long enough and complicated enough that he got bored and put his money he was going to buy BTC with into a semi-legal online poker site. Yes, he wasn't the guy that was going to send us to tha moon, but if someone who is technical can't figure out one of the currently easiest means of getting BTC, a non-technical person still has no shot. Those things need to come out from the companies doing that work, and then we will see greater adoption rates.
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bigtimespaghetti
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Activity: 1652
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bigtimespaghetti.com
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August 13, 2014, 03:23:58 PM |
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Kind of disappointed that 525 seems to have held for now at least. I'm not knowledgeable enough to know what the short term setup we have now is. Any thoughts on the price action?
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sidhujag
Legendary
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Activity: 2044
Merit: 1005
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August 13, 2014, 03:57:12 PM |
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Its been ltc leading the way.. right now its bearish till its not
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bassclef
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August 13, 2014, 04:08:42 PM |
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Its been ltc leading the way.. right now its bearish till its not LTC follows BTC, not the other way around.
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nioc
Legendary
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Activity: 1624
Merit: 1008
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August 13, 2014, 04:30:16 PM |
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Everyone and their hairdresser is now aware of bitcoin...
I ask at least one cab driver every week whether they have ever heard of bitcoin, and have done for the past year. Keep in mind that these people are overwhelmingly recent immigrants who make regular remittances to family overseas, a first-order use case for bitcoin, which would save them as much as 10% on transfers of thousands of dollars each year. Exactly one has ever heard of bitcoin. Regular Joe wont go to bitcoin because of fear to be hacked. Unless one will create way to keep bitcoins safe from bad guys and easy system how to pay for goods and services, mainstreamers will stay away from BTC. Myself I'm tech guy and even I cannot sleep at night because of fear being hacked. Imagine someone not that techy, family with kids who use that computer to play games, install screensavers with all the viruses and keylogers. I dont see adoption without 100% security solution. Fear of being hacked. An easy to use and nearly unhackable wallet. An easy to use and nearly unhackable means of obtaining bitcoin. These are all still hurdles for the regular joe. I had a 50 year old programmer co-worker on coinbase, trying to set up an account so he could start buying BTC. The process was long enough and complicated enough that he got bored and put his money he was going to buy BTC with into a semi-legal online poker site. Yes, he wasn't the guy that was going to send us to tha moon, but if someone who is technical can't figure out one of the currently easiest means of getting BTC, a non-technical person still has no shot. Those things need to come out from the companies doing that work, and then we will see greater adoption rates. Yes secure and easy use is a key for wide spread use. I don't think average joe is even at the point of worrying about being hacked. As far as coinbase guy, it's a simple process so I have no idea what's really going on. And he put money on an online poker site? There are hoops to both processes. You should tell him about btc poker, Seals With Clubs, as getting money off poker sites is much more difficult than putting it on unless it is btc. There also is a well know sportsbook with poker that has btc in limited beta.
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molecular
Donator
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Activity: 2772
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August 13, 2014, 04:30:58 PM |
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Everyone and their hairdresser is now aware of bitcoin...
I ask at least one cab driver every week whether they have ever heard of bitcoin, and have done for the past year. Keep in mind that these people are overwhelmingly recent immigrants who make regular remittances to family overseas, a first-order use case for bitcoin, which would save them as much as 10% on transfers of thousands of dollars each year. Exactly one has ever heard of bitcoin. Regular Joe wont go to bitcoin because of fear to be hacked. Unless one will create way to keep bitcoins safe from bad guys and easy system how to pay for goods and services, mainstreamers will stay away from BTC. Myself I'm tech guy and even I cannot sleep at night because of fear being hacked. Imagine someone not that techy, family with kids who use that computer to play games, install screensavers with all the viruses and keylogers. I dont see adoption without 100% security solution. sorry, I have to reference the trezor everytime I read about this (supposed) problem. It can now be solved with $120.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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Torque
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Activity: 3710
Merit: 5286
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August 13, 2014, 04:45:51 PM Last edit: August 13, 2014, 05:20:19 PM by Torque |
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sorry, I have to reference the trezor everytime I read about this (supposed) problem. It can now be solved with $120. It's still not an easy solution for the average person. If I handed a trezor to a Regular Joe off the street (or gf, grandma, boss, non-tech colleague, etc.), the first thing he/she would ask is "How do I get bitcoins to and from that thing?". 30 seconds into the explanation what it is, how to even set one up, much less how to use it, and they would have tuned me out already and walked away. Second thing they would say is, "I have to buy that thing for $120, when a credit card is basically free with my bank account? No thanks." A trezor may work today for us Bitcoin geeks. But for Regular Joe mass adopters, trezor like devices need to be even easier to set up and use, as well as so ubiquitous that they are basically free devices, given away perhaps by bitcoin wallet services providers like Circle, BitPay, or CB.
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