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Author Topic: What Is Stopping Cryptocurrency Propagation?  (Read 1677 times)
tidda
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July 06, 2014, 07:01:45 PM
 #21

The article says that bitcoin's future hinges on two things: retailers willingness to accept the currency and traders' faith in the currency. Well, the retailers take no real risk with Coinbase/Bitpay and we've seen large companies start accepting bitcoin. That's not the issue.
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tidda
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July 06, 2014, 07:08:02 PM
 #22

Buying and holding bitcoin is also pretty damn easy now (for Americans) with Coinbase. And pretty easy for Europeans with Bitstamp. And pretty easy for Chinese. The main thing holding bitcoin back is the fact that people don't want to hold it unless they're speculating.
tidda
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July 06, 2014, 07:15:54 PM
 #23

They don't trust it. They think it could crash at any moment. And you know what? It can. So why hold bitcoin compared to a (relatively) rock-solid USD, Euro, or Renminbi? Tim Draper, as seemingly uninformed as he is, is onto the real issue with his venture.
tidda
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July 06, 2014, 07:22:30 PM
 #24

The next step is to make bitcoin accessible to people who don't want to hold their native currencies. Make bitcoin available to Argentinians, Ukrainians, Turks, and Cypriots who aren't as pampered as us when it comes to currency and won't mind the volatility.
CEG5952
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July 06, 2014, 07:33:26 PM
 #25

They don't trust it. They think it could crash at any moment. And you know what? It can. So why hold bitcoin compared to a (relatively) rock-solid USD, Euro, or Renminbi? Tim Draper, as seemingly uninformed as he is, is onto the real issue with his venture.

Certainly, it could crash at any moment. There are still huge risks in this market -- it is still young and untested. The protocol could travel some very rocky roads in the future, and this will be reflected in the price action.

Cenenigo
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July 06, 2014, 08:05:28 PM
 #26

IMO it's 10 cents tips
DooMAD
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July 06, 2014, 08:15:40 PM
 #27

I think the only real thing holding it back is apathy and/or ignorance.  Either people recognise there's a problem and can't be bothered to do anything about it, or they've bought into the FUD in the media and think crypto is a scam.  Or perhaps they're just scraping by and think they're going to be okay.  Every day people complain about stuff like austerity, corruption and debt.  But that's all they do, complain.  Even when they're presented with an alternative, they either don't believe it or they don't care enough to give it a try.  The only thing they've ever known is fiat and anything else is an alien concept.  For most people, anything alien is scary and therefore bad.

The question is, how do we change people's perceptions?  Or do we have to wait until they're driven to the brink of poverty before they're desperate enough to try something new?

Riniaiokl
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July 06, 2014, 09:22:54 PM
 #28

- "It's still too complex to hold Bitcoin (ok, iPhone wallets etc. are now here, but still requires some knowledge of security if you hold a reasonable amount of digital-cash)"
- "No consumers version to protect against volatility - For example a USD-pegged wallet (There was a beta called Bridgewalker, it died)"
- "Negative image due to bad (FUD or not) PR. Bitcoin's linked to drugs, money launder. Whether that is correct or not."

That is the 3 main reasons I see around me.
Triffin
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July 06, 2014, 09:28:37 PM
 #29

What Is Stopping Cryptocurrency Propagation?

1) Overly complicated security features to protect and or use  coins
2) Too many 'alt' coins that dilute/confuse the 'message'
3) Unusable wallets
4) Too many scams and scammers
5) What is It ?? Money ?? Transaction Network ?? Public Ledger ?? Store of Value ??
6) Arrogance and Indifference of the early adopters towards 'newbies' .. the very people you need to attract

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Meuh6879
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July 06, 2014, 09:32:01 PM
 #30

1) usb key
2) irrelevant
3) developper must reintroduce QR-code generator in bitcoin-core ...
4) people are dumb ... they already trust banker and think that normal to pay tax on credit.
Skele
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July 06, 2014, 09:42:42 PM
 #31

They don't trust it. They think it could crash at any moment. And you know what? It can. So why hold bitcoin compared to a (relatively) rock-solid USD, Euro, or Renminbi? Tim Draper, as seemingly uninformed as he is, is onto the real issue with his venture.
USD rock solid ? i heard dollars are the biggest bubble in the history of mankind so they created it's successor Bitcoin which will enters Wall Street soon...
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July 06, 2014, 10:40:31 PM
 #32

They don't trust it. They think it could crash at any moment. And you know what? It can. So why hold bitcoin compared to a (relatively) rock-solid USD, Euro, or Renminbi? Tim Draper, as seemingly uninformed as he is, is onto the real issue with his venture.

possible yes, but why are you here then Smiley ?

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