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Author Topic: THE REAL reason why BTC has a slow adoptive rate  (Read 6732 times)
wittonline
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April 15, 2014, 11:22:09 PM
 #101

The problem is, many new posters (on any internet forum) are just lazy and don't want to put forth any effort learning something and instead just have someone tell them what to do.  People who put forth effort learning don't feel like rewarding lazy people.  Your post is claiming the people who respond to the "noobs" are the problem.  Why are the lazy people trying to figure out how to get "free money" not a problem?

Wow. I've been involved with bitcoin for almost a year now, have several thousands of hours invested, and owned my own businesses for the last 18 years, after leaving a corp marketing gig in the mid-90s. I've not spent a lot of time on this site, but I have found it valuable for industry news, info, and personal views. Let me say, if you epitomize the sr members here though, it's no damn wonder people in this thread feel the way they do! You are looking at this completely @55 backwards. I don't mean to single you out either, this really is meant for a larger sect.

Obviously you, and many others here, have no idea what an adoption rate entails, or all the socioeconomic factors that have to come together in the market to actually be a success, let alone with a brand new technology (Internet Protocol) that is in many ways, creating a whole new market. I think it might be best that you post less, in circumstances like this.  Cool Or you can continue cutting your nose away to spite your face, a tiny little bit at a time.

How can it possibly matter? Because of the power of leverage and geometric progression. We ALL matter at this point, so shape up!  I could care less what YOUR return has been on your btc, and when you got your so-called "free money."  What a ridiculous term btw. I for one, want to see Bitcoin gain 10% share of the Forex market and change the world forever. Capisce? And, if that happens with us all working 'together' you won't be so worried about who's got how many bitcoin and how many hours they've logged.

I mean, what the hell do you think the primary purpose of a forum is anyway? Here's a hint; it's not so you can see your words in public, show off to others that could care less about you, or an opportunity for you to be condescending towards someone else, while in some weird way make yourself feel better or empowered.

This goes for others here, that do the same thing.

thank you witt

you wrote the "nice" summary of this thread

You bet. I made a few last minute changes.

Hey, every 'little' bit helps.
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wittonline
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April 16, 2014, 12:06:48 AM
 #102

The OP said slow adoptive rate not slow value growth.

BTC (and other cryptos) have a slow adoptive rate for a few reasons. Here are a few:

1.) It is still really confusing and not newbie/computer newbie friendly. Go ahead, try to teach a 50-year-old about bitcoin in 5 minutes. You can teach a person everything they need to know about a credit card or checking account in 5 minutes, easily. Bitcoin takes hours and many follow-up sessions.

2.) It is still plagued by scams, frauds, and technical issues. The average joe can't be expected to constantly follow forums and reddit threads to learn of when some new exploit is discovered and the wallet needs to be updated right now or you risk losing your coins.

2b.) Updating the wallet properly (including backing it up beforehand and in some cases re-downloading the blockchain) is confusing and scary to newbies and the not-so-computer-literate.

3.) There still isn't a compelling reason for anyone to switch from primarily using fiat to primarily using BTC. It's generally confusing, it costs money (fees and such) and it is risky to acquire, hold, and use BTC (and other cryptos.) The majority of people involved right now are all investors in one sense or another, who are willing to take the risk only because they believe they will make a lot of profit.

3b.) If you disagree with the above, ask yourself - if you were to convince someone to start using bitcoin for the majority of their financial transactions, what argument could you make, other than "it will go up in value so you can make money that way" ... ?


I agree 100% with those things.  and the bottom line is the SOLUTIONS to those are going to be found within AND WITHOUT the community.

The people who can provide the solutions - like the 50 year old successful and wealthy entrepreneur/investor/professional - is not going to bother with on their first session getting flamed to death by 12 year old know it alls.

PEOPLE (not technology in and of itself) is the solution to all the barriers.  And if xenophobes keep running away those that don't sit and mine 24/7, build PCs and other uber techie behaviours...the adoption rate will continue to stagnate.

For those who say it is "only a few years"....in this day and age, there should have been WIDESPREAD adoption by now.  (look at social networks and other payment platforms).   Look at DWOLLA -- just as revolutionary, started around the same time - facing GREATER HURDLES...yet....greater adoption rate (on less publicity).   Granted - not open source and does not require the technical acumen -- but I remember when the ONLY place to buy a domain was Network solutions. You had to pay for TWO YEARS at $50 per year. PLUS a $50 setup fee.   And YOU NEEDED to be a techie to set up all A, mx, CNAME etc records with a plain interface. Yet within a few years, there were competitors and better interfaces and widespread adoption.

The "problems" are normal...the "community" is not.

I don't think the community is the issue... and it was never a "selling point of bitcoin" as you say.
Its great to shoot for the moon as far as adoption,but in addition to the security and user issues,
there is definitely a segment of society that wants bitcoin to fail and go away.  The big losers
will be the credit card companies, money transmitters (western union), central banks, etc


...There's no doubt, and we shouldn't lose sight of the 'technical' challenges still ahead of us. Continuing to share ideas and introducing solutions and options is what it's all about. Actually referencing community, this could end up being the most incredible "community" project in human history. God bless, open source. And hey, no one knew how to maneuver windows, or browse the web, and send/rec email, etc. either. Hell, I was self-taught and ended up building a small software company out of my basement. Of course I hired my programmers, but had to learn quick what 1's and 0's at that time could do, and what they couldn't. Today...oh my.

I'm afraid what's being missed here by the (I assume younger) Xenophobe crowd is that the bitcoin community is a VERY important and a unique guild and blend of the social and in your face technology. It's not like logging into FB, uploading some pics, and sending an invite...though it will be in the near future. In the meantime let's not burn bridges, turn community away. Our rapidly growing community is going to need assistance and many will, well, use the Internet to get more knowledge; imagine that.

Just be open, be kind, and help if you can. I know that's a lot to ask from some folks, and I know some others won't deserve it. One simple rule has served me well since I was a boy, (not that I don't go off a bit - once in a while - when an impact is needed:) simply treat others how you 'really' want to be treated. Fair enough?
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April 16, 2014, 10:36:50 AM
 #103

Don't know what you're going to do!
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April 16, 2014, 08:10:33 PM
 #104

Sweet old times, I remember lurking on hackbb and onionforum, talking about different topics before being invaded by kids.

This forum would benefit immensely if they could implement some kind of age verification and keep the kids out of the serious sections (at least block them from posting, if they want to read fine.)
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April 16, 2014, 08:35:47 PM
 #105

I *fully* agree with OP here!! Great post!

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April 16, 2014, 10:16:33 PM
 #106

The real reason is the common folks rather sell their soul to the government than stand up against them.

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April 17, 2014, 01:33:37 AM
 #107

The real reason is the common folks rather sell their soul to the government than stand up against them.

Or maybe it's because the common folks don't understand bitcoin and thus aren't even really conscious of making the choice not to use it.
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May 01, 2014, 09:11:23 PM
 #108

The real reason is the common folks rather sell their soul to the government than stand up against them.

Or maybe it's because the common folks don't understand bitcoin and thus aren't even really conscious of making the choice not to use it.

Its sort of entertaining reading this dialog. Lots of "I agree with him" and lots of "thats just the way it is.."

To correct the assumption, the difficulty is not the reason adoption is slow. It's slow because most people are lazy and don't develop self-learning skills, and require being spoon fed information. 

 

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May 01, 2014, 11:44:25 PM
 #109

One reason bitcoin's adoptive rate has been slow partially due to the absence of any sort of physical, tangible component to the currency/transactions. That's starting to change with the growth of bitcoin ATMs, debit/bank cards, and soon full-service bitcoin ATMs.
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May 02, 2014, 03:57:03 AM
 #110

People didn't believe in credit cards for a good few years before accepting them!

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May 02, 2014, 05:35:04 AM
 #111

It is because bitcoin is so revolutionary.  You cannot compare the adoption of bitcoin to things like smart phones because they just aren't that ground-breaking enough.  Comparing the adoptive rate of bitcoin and cars or TV would be a better measure.


 
 
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May 02, 2014, 05:40:19 AM
 #112

I feel ya' OP but online forums in general are not typically known for their pleasantries and there are also plenty of people here willing to be generous
with information and time, seek out the helpful and ignore the rest.
Bitcoin is not mainstream because it's nowhere near ready to be. You shouldn't have to know all the things you outlined just to spend "money".
Average people don't typically know much about money (or even credit) to use it.
I'm not in the computer industry and it's taken me many hours to glean the small amount of understanding I do have, in large part on this forum.

I also understand what it's like to contribute to a forum (for years) and see the same questions asked or... example:

By the end of 2007 if I had seen another RE agent post about "what a great time it was to buy real estate" it would be possible for my best self not to shine through.
Endless posts about suing because "Zestimates" had caused owners to lose equity (It couldn't possibly be due to a  market crash).
FUD that was actually coming true and endless spam, shiestyness, market callers, doomers, cheerleaders and drowning homeowners = this site is tame ;-)

OP, if it's important to you that others "play nice" then play nice.

Sometimes there's more truth in forums than anywhere else.  Twitter:  @cryptobitchicks   "I am expressing multiple attitudes simultaneously. To which are you referring?"
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May 02, 2014, 05:40:36 AM
 #113

Another noob, another dumb post.

OP, going from $0 to $450 in 5 years isn't a slow rate.

It went from 0 to 1200 then back down to 450 in 5 years. Its a massive turbulence in price difference, maybe thats what he is suggesting
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May 02, 2014, 07:59:51 AM
 #114

There should be a "newbie" section on these forums, a place where people trying to understand Bitcoin can go and ask any questions and those people who don't mind answering can reply to them.


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May 02, 2014, 08:11:10 AM
 #115

There is absolutely nothing stopping people from going about and researching Bitcoin themselves and learning about it, we can't be held responsible for peoples laziness or incompetence, I have another theory regarding Bitcoins slow adoption rate and part of the problem is that Bitcoin is trying to undo over a century of yes, I'm going to be blunt here, social engineering and brainwashing. We have been brought up with very little knowledge on how global economics and currencies actually work and that has been a deliberate and systematic process attempted by our governments to keep us ignorant.

Can't have the unwashed peasants understanding how their money works now can we? They'd revolt and bring down the central bankers early on, this is also a reason why many central banks are refusing to define Bitcoin as private money because that would nullify what they have been teaching the public for years, that their paper currency is the only true form of money, why do you think they keep trying to say Gold/Silver are commodities that can be bartered? It's the same situation.
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May 02, 2014, 08:24:28 AM
 #116

Yes this is all my fault. I did it on purpose. I'll keep trying to slow down the adoption rate.  Roll Eyes


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May 02, 2014, 08:29:02 AM
 #117

Yes this is all my fault. I did it on purpose. I'll keep trying to slow down the adoption rate.  Roll Eyes

Thats it im blaming the goxing on you Tongue
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May 02, 2014, 08:34:28 AM
 #118

Thats it im blaming the goxing on you Tongue
Goxing is such a bad word, don't use it anymore.
Another noob, another dumb post.

OP, going from $0 to $450 in 5 years isn't a slow rate.

It went from 0 to 1200 then back down to 450 in 5 years. Its a massive turbulence in price difference, maybe thats what he is suggesting
Does that matter? The price increase in the last years is huge. Only those who got in at the wrong times are complaining.


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May 02, 2014, 11:46:39 AM
 #119

Another noob, another dumb post.


Do you suggest that noobs are getting dumber these days?

There's something to it, you know...

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May 14, 2014, 09:26:11 PM
 #120

There is absolutely nothing stopping people from going about and researching Bitcoin themselves and learning about it, we can't be held responsible for peoples laziness or incompetence, I have another theory regarding Bitcoins slow adoption rate and part of the problem is that Bitcoin is trying to undo over a century of yes, I'm going to be blunt here, social engineering and brainwashing. We have been brought up with very little knowledge on how global economics and currencies actually work and that has been a deliberate and systematic process attempted by our governments to keep us ignorant.

Can't have the unwashed peasants understanding how their money works now can we? They'd revolt and bring down the central bankers early on, this is also a reason why many central banks are refusing to define Bitcoin as private money because that would nullify what they have been teaching the public for years, that their paper currency is the only true form of money, why do you think they keep trying to say Gold/Silver are commodities that can be bartered? It's the same situation.
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