Barriers preventing you from using bitcoin today/advantages of using bitcoin?

[GGUL]

You will not get widespread acceptance of bitcoins in supermarkets and stores. Because there is no economic feasibility for their owners. To date, Bitcoin makes ~350 thousand transactions per day, distributed around the world. If we take 1 billion people from civilized countries, then on average out of 3 thousand people, only one can make a single transaction. One in 3 thousand. If 3 thousand customers pass through the supermarket every day, you will receive only one payment per day in bitcoins. If 500 people pass through a restaurant a day, then one bitcoin payment is made in 6 days. In reality, this figure will be much lower, because most bitcoin transactions are "buy/sell bitcoins".

Stop dreaming. You want to pay with bitcoins, but you don't want to change anything with Bitcoin. This won't work. If you want to use bitcoins, make it possible to make 50-100 million transactions a day. Then, perhaps, you will see the bitcoins in supermarkets.

[tippytoes]

You will not get widespread acceptance of bitcoins in supermarkets and stores. Because there is no economic feasibility for their owners. To date, Bitcoin makes ~350 thousand transactions per day, distributed around the world. If we take 1 billion people from civilized countries, then on average out of 3 thousand people, only one can make a single transaction. One in 3 thousand. If 3 thousand customers pass through the supermarket every day, you will receive only one payment per day in bitcoins. If 500 people pass through a restaurant a day, then one bitcoin payment is made in 6 days. In reality, this figure will be much lower, because most bitcoin transactions are buy - sell.

Stop dreaming. You want to pay with bitcoins, but you don't want to change anything with Bitcoin. This won't work. If you want to use bitcoins, make it possible to make 50-100 million transactions a day. Then, perhaps, you will see the bitcoins in supermarkets.

So right now, the easiest one that a crypto user can do is just convert his btc to fiat money and spend it directly to shops. Since the availability of merchants which are accepting bitcoin or crypto is still low in number, the best you can do if you do really want to spend your bitcoin is convert it to your fiat money, right? I really have no problem with that case. Because at the moment, as the tx fee is getting higher, merchants will have hesitation of integrating btc as part of their payment method, maybe other alts like doge or xrp but will find it hard in the implementation part.

[arditiyan]

The number one reason why I can hardly spend my Bitcoin is that there are almost no market, stores, and other businesses which are accepting Bitcoin. However excited I am to try to experience spending my Bitcoin in an actual purchase of goods and services, I am always confronted with the reality that these purchases can only be done online for now. And even online, purchases using Bitcoin is very limited.

yes, not all countries and even stores can accept bitcoin, only a few can accept purchases with bitcoin. so even so bitcoin still provides benefits

[Saisher]

Pain for services or goods using bitcoin makes it possible to explore many opportunities globally which would have been difficult to do using a debit cards. To be specific, the central bank in my country has made it impossible for many people to use a debit card on an international website. However, using bitcoin makes it easy to break this barrier as long as it is accepted on such platforms.

I'm not using a debit card or a credit card anymore and there are services where my family are subscribed that can only be paid by credit cards I have to use my friend's debit card for this, I hope to see one day that at least 80% of merchants or marketplace will be using Cryptocurrency because it's already had a community of it's own.

[Lorence.xD]

You will not get widespread acceptance of bitcoins in supermarkets and stores. Because there is no economic feasibility for their owners. To date, Bitcoin makes ~350 thousand transactions per day, distributed around the world. If we take 1 billion people from civilized countries, then on average out of 3 thousand people, only one can make a single transaction. One in 3 thousand. If 3 thousand customers pass through the supermarket every day, you will receive only one payment per day in bitcoins. If 500 people pass through a restaurant a day, then one bitcoin payment is made in 6 days. In reality, this figure will be much lower, because most bitcoin transactions are "buy/sell bitcoins".

Stop dreaming. You want to pay with bitcoins, but you don't want to change anything with Bitcoin. This won't work. If you want to use bitcoins, make it possible to make 50-100 million transactions a day. Then, perhaps, you will see the bitcoins in supermarkets.

That is a really pressing issue that I also am pondering about. Also, how would they sustain a proper economic flow if there is only a limited amount of coins? And the last block will be mined by 2140, the current quantity will not match the population. To make these thing work, the bitcoin should be passed around different transactions every second to accomodate global trade.

[GDragon]

You will not get widespread acceptance of bitcoins in supermarkets and stores. Because there is no economic feasibility for their owners. To date, Bitcoin makes ~350 thousand transactions per day, distributed around the world. If we take 1 billion people from civilized countries, then on average out of 3 thousand people, only one can make a single transaction. One in 3 thousand. If 3 thousand customers pass through the supermarket every day, you will receive only one payment per day in bitcoins. If 500 people pass through a restaurant a day, then one bitcoin payment is made in 6 days. In reality, this figure will be much lower, because most bitcoin transactions are "buy/sell bitcoins".

Stop dreaming. You want to pay with bitcoins, but you don't want to change anything with Bitcoin. This won't work. If you want to use bitcoins, make it possible to make 50-100 million transactions a day. Then, perhaps, you will see the bitcoins in supermarkets.

I am guilty that I don't want to pay anything with bitcoin, I think its because I don't own a lot of bitcoin for now and my goal is not to spend bitcoin but to hodl it. I agree with you that it will be hard for bitcoin to have its widespread acceptance in supermarkets and stores. Cause it tackles a lot of world problem.

Like in my country, not all are technologically advance for them to use bitcoin, some rural areas here don't have sufficient signals even for a wifi. Some are market goers so it will be hard for us to reach a lot of people spending bitcoin. Even I myself who use bitcoin can sometimes choose not to use bitcoin cause it affects me financially. So a lot of problem to tackle just to have 1 bitcoin transaction.

[hatshepsut93]

What's preventing me from using Bitcoin is that none of the services that I use accept Bitcoin payments, and since most of them are big companies, there's no point in asking them, cause my voice won't change anything. And the second problem is fees, when there's a lot of market activity, the fees tend to get to a few dollars on average - no way I'm paying that for my consumer transactions, unless the deal is so good that it covers the fee.

[Lucius]

The only barrier that prevented me to use my bitcoin mostly in my daily transaction is it's not acceptable in online shops, stores, supermarkets, and pharmacies.

Have you read my previous post? Online stores are the ones that mostly accept Bitcoin as a means of payment, and there are certainly over 1000 of them from all possible categories. Of course, for someone living in the EU, buying something sent from the USA is a big expense if we take into account the national VAT + customs costs + shipping costs.

The only thing that stops me from using Bitcoin to buy things is lack of acceptance. I can use amazon via payment processors but that's online shopping. I can't buy things in stores.

As a digital cryptocurrency, Bitcoin actually makes sense to be used in the digital (online) world, because with the exception of LN transactions, every customer in a physical store would have to wait for the transaction to receive at least 1 confirmation - sometimes up to 60 minutes. If you think about the situation in which you could find yourself using this method of payment then you will surely agree that it is much easier to pay online and get your purchased product at your home address. I have personally bought TVs, computers, cell phones and many other things online for BTC - and I can say that I have always had very positive experiences with such purchases.

[Yatsan]

There are certain and distinct barriers that is affecting why you are being prevented or prohibited from using Bitcoin which varies depending upon the certain country you do belong. Some of the common barriers we do know includes (1) Legalization this is the first thing that is the main concern of Bitcoin users for they do reside on countries where Bitcoin usage is not yet being legalized to be used freely which prevents them from using it. (2) Accessibility and Adaptation the next thing being the main concern after legal matters is of course the massive adaption on using cryptocurrencies because their main issue is that accessibility cannot be attained by people due to lack of capacity and capability all due because of legal matters abiding that prohibits Bitcoin usage.

Those two that I have mentioned above are the main and the most common barriers that can be observed and the main issue why certain crypto users are being prevented on using Bitcoin freely according to their own will. I know there are still lots of barriers but I have just mentioned some of those.

[RokokGudangGaram]

There are certain and distinct barriers that is affecting why you are being prevented or prohibited from using Bitcoin which varies depending upon the certain country you do belong. Some of the common barriers we do know includes (1) Legalization this is the first thing that is the main concern of Bitcoin users for they do reside on countries where Bitcoin usage is not yet being legalized to be used freely which prevents them from using it. (2) Accessibility and Adaptation the next thing being the main concern after legal matters is of course the massive adaption on using cryptocurrencies because their main issue is that accessibility cannot be attained by people due to lack of capacity and capability all due because of legal matters abiding that prohibits Bitcoin usage.

Those two that I have mentioned above are the main and the most common barriers that can be observed and the main issue why certain crypto users are being prevented on using Bitcoin freely according to their own will. I know there are still lots of barriers but I have just mentioned some of those.

I definitely agree with you. You have pointed out my thoughts about this precisely. Most of the time, people are going on converting their Bitcoin into flat then use it to make transactions. And others are only being able to use it to pay someone who is also a Bitcoin enthusiast.

[carlisle1]

What's preventing me from using Bitcoin is that none of the services that I use accept Bitcoin payments, and since most of them are big companies, there's no point in asking them, cause my voice won't change anything. And the second problem is fees, when there's a lot of market activity, the fees tend to get to a few dollars on average - no way I'm paying that for my consumer transactions, unless the deal is so good that it covers the fee.

Not only Services but also merchant ,there are only limited from some countries (including me and i assume you since companies in your place also denied Bitcoin)
If only Giving a chance that even supermarket will accept Bitcoin?then sure me in that i will spend my coins for my weekly groceries .
I don't know when this will happen but i am looking forward it will soon.

Of course, the transaction fees cost too much sometimes. I think if bitcoin fees become lower forever many would like to use it in their businesses and daily transactions.

Don't bother about the fees because that is isolated cases and none is permanent.
actually it happens maximum for 2 days most of the time but of course depend if there is Bullrun surely it will bug you from using preventing the high fees.

[GGUL]

There are certain and distinct barriers that is affecting why you are being prevented or prohibited from using Bitcoin which varies depending upon the certain country you do belong. Some of the common barriers we do know includes (1) Legalization this is the first thing that is the main concern of Bitcoin users for they do reside on countries where Bitcoin usage is not yet being legalized to be used freely which prevents them from using it. (2) Accessibility and Adaptation the next thing being the main concern after legal matters is of course the massive adaption on using cryptocurrencies because their main issue is that accessibility cannot be attained by people due to lack of capacity and capability all due because of legal matters abiding that prohibits Bitcoin usage.

Those two that I have mentioned above are the main and the most common barriers that can be observed and the main issue why certain crypto users are being prevented on using Bitcoin freely according to their own will. I know there are still lots of barriers but I have just mentioned some of those.

Yes, these barriers exist. But, at the moment, overcoming them will not do anything. You want to use bitcoins for purchases, you want to use bitcoins more often. That is, you want to make more transactions. But this is impossible. The blockchain is full. You can't do more transactions than you are doing now. This talk about "Legalization", "Accessibility and adaptation" is a waste of time. We must overcome the first barrier-the limit on the number of transactions. Especially since we set this barrier ourselves.

It seems to me that people in this forum are trying to avoid discussing the block size. This is very similar to:
Owner:     Why are there no visitors in our store? Maybe we have high prices? Maybe we should give more advertising.
Someone: Maybe you can try to open the doors in the store.
Owner:     I don't understand. Perhaps we should give more advertising.

[shoreno]

There are certain and distinct barriers that is affecting why you are being prevented or prohibited from using Bitcoin which varies depending upon the certain country you do belong. Some of the common barriers we do know includes (1) Legalization this is the first thing that is the main concern of Bitcoin users for they do reside on countries where Bitcoin usage is not yet being legalized to be used freely which prevents them from using it. (2) Accessibility and Adaptation the next thing being the main concern after legal matters is of course the massive adaption on using cryptocurrencies because their main issue is that accessibility cannot be attained by people due to lack of capacity and capability all due because of legal matters abiding that prohibits Bitcoin usage.

Those two that I have mentioned above are the main and the most common barriers that can be observed and the main issue why certain crypto users are being prevented on using Bitcoin freely according to their own will. I know there are still lots of barriers but I have just mentioned some of those.

I definitely agree with you. You have pointed out my thoughts about this precisely. Most of the time, people are going on converting their Bitcoin into flat then use it to make transactions. And others are only being able to use it to pay someone who is also a Bitcoin enthusiast.

why not use your btc online if not offline ? so many online sites that are built now dedicated for us bitcoin users .

  on our place , adoption is also less but there are few stores that accept btc  . never tried buying them because i was happy using my btc online .  transacting online protects you from legalities issues if you are on the country where btc acceptance is questionable .

[20kevin20]

Besides decentralization and more privacy, there are probably more advantages with cash/card payments than there are with BTC when it comes to payments. The balance inclines towards an advantage of fiat vs crypto most of the times: it's instant, easy to pay, very very hard to pay at a POS and have your funds go towards a completely different card, it's waay easier to make older people understand how it works etc.

However, I personally think decentralization and more privacy outruns the fiat advantages over the long term. Think about it: you can have a Bitcoin cold wallet for savings that you will use for 20 years straight and there will be zero fears of your money being seized. You can transfer literally a billion bucks to the other side of the world and nobody'd know a thing if you do it the right way.

But the thing is, I don't think it'll ever really be a reliable fiat replacement. I can only see it right now as a store of value; for it to become a mainstream currency as in a replacement of USD and other fiat currencies, you'd need either centralization or a technology that doesn't exist yet.

So I sincerely believe Bitcoin has a tendency more towards a "digital gold" kind of asset than the perfect solution for a cashless society. Moreover, the decentralization may be a big advantage to us as users of it and citizens of various countries, but in the end if you think about it.. governments will never agree to lose control over something as important as money. That would not only be something that's never happened before, but also something very very risky.

[k@suy]

Besides decentralization and more privacy, there are probably more advantages with cash/card payments than there are with BTC when it comes to payments. The balance inclines towards an advantage of fiat vs crypto most of the times: it's instant, easy to pay, very very hard to pay at a POS and have your funds go towards a completely different card, it's waay easier to make older people understand how it works etc.

However, I personally think decentralization and more privacy outruns the fiat advantages over the long term. Think about it: you can have a Bitcoin cold wallet for savings that you will use for 20 years straight and there will be zero fears of your money being seized. You can transfer literally a billion bucks to the other side of the world and nobody'd know a thing if you do it the right way.

But the thing is, I don't think it'll ever really be a reliable fiat replacement. I can only see it right now as a store of value; for it to become a mainstream currency as in a replacement of USD and other fiat currencies, you'd need either centralization or a technology that doesn't exist yet.

So I sincerely believe Bitcoin has a tendency more towards a "digital gold" kind of asset than the perfect solution for a cashless society. Moreover, the decentralization may be a big advantage to us as users of it and citizens of various countries, but in the end if you think about it.. governments will never agree to lose control over something as important as money. That would not only be something that's never happened before, but also something very very risky.

One of the biggest factor why many of us still refuses to use bitcoin or any other crypto currency to use in our daily lives is it's VOLATILITY because we cannot predict whether it will at it's highest value today or it will be at it's lowest value tomorrow that's why a lot of countries are not in favor on using bitcoin because somehow it can affect the economy of a certain country.

[TedMosby]

I can't use Bitcoin as a payment method in my country, Indonesia.
however, I can trade it as an asset.

even if I can use it to pay my daily needs, I won't use it.
I don't want to pay a high fee for microtransactions.
also, I don't want to wait for the block confirmations

oh, sometimes you feel bad to use bitcoin as payment because of the volatility.
especially, when you think you have paid more than the price you should pay because the bitcoin price goes up.

I am a fan of cashless payment, I prefer to use a centralized digital wallet at the moment.

[figmentofmyass]

What's preventing me from using Bitcoin is that none of the services that I use accept Bitcoin payments, and since most of them are big companies, there's no point in asking them, cause my voice won't change anything.

that's unfortunately what drives me towards using huge companies like amazon, walmart, whole foods---they're big enough that i can at least buy gift cards with bitcoin. i do like spending bitcoin, particularly after it has significantly appreciated in value, and while i love supporting local shops, mom and pops etc that is the reality of it.

And the second problem is fees, when there's a lot of market activity, the fees tend to get to a few dollars on average - no way I'm paying that for my consumer transactions, unless the deal is so good that it covers the fee.

i wouldn't mind paying lower fees and waiting several hours for the order to be fulfilled. that can unfortunately cause errors on the merchant side, as i have experienced, so it's true that i usually pay higher fees than i'd like to ensure timely confirmation. in truth though, it doesn't have a major effect on someone like me, who really only spends/sells after significant capital gains. the fees are pretty negligible compared to the gains, so it's an afterthought.

[20kevin20]

One of the biggest factor why many of us still refuses to use bitcoin or any other crypto currency to use in our daily lives is it's VOLATILITY because we cannot predict whether it will at it's highest value today or it will be at it's lowest value tomorrow that's why a lot of countries are not in favor on using bitcoin because somehow it can affect the economy of a certain country.

Why would it affect the economy of a country? If Bitcoin has the power to do so, then what do we say about precious metals which are way more known and used?

Volatility is a risk you agree with ever since you purchase or earn your first satoshi. Bitcoin has an entire history of volatility, so there's almost no way one can purchase BTC without knowing it. Once you have your first coins, you already know their value will change second by second.. but this is why I said it'll probably never be the perfect replacement of fiat. It just wouldn't work.

[MCobian]

For me the biggest barriers to being able to spend Bitcoin, is not the absence of merchants that accept Bitcoin payments.
But the government of my country forbids using Bitcoin as payment, this prevents me from being able to feel benefit from
using Bitcoin payments. Therefore, I can only use Bitcoin as a digital asset for the time being.

[Lizzie_Girl]

I like that it can't be stopped because there are so many different miners mining all over the world. It is not as if it is a few companies mining and if they disappear, bitcoin disappears. That security feels good. The fact it is not in the hands of companies or governments. Being in control and not needing any external help like you do when you set up a bank account. Spending and using it is also easy and fun. Again no reliance of a banking system which is great.