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Author Topic: The problem with Bitcoin is  (Read 4281 times)
keithers
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June 01, 2014, 05:34:43 PM
 #21

One of the main problems with bitcoin is still all the propaganda that is out there. I was at dinner last night talking to a few friends. They are both financially very successful, and both very well educated. We were talking about investments...stocks, mutual funds, etc. and i brought up Bitcoin. Both of them had heard of BTC, but both said that they had heard that Bitcoin was shut down and out of business. I tried explaining that they were probably talking about Gox being shut down, but they were convinced that it was BTC itself that had been shut down.

There is just too much misinformation out there still.
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Zyborg
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June 01, 2014, 08:32:25 PM
 #22

The huge number of scammers and theives.   But this could also be said about anything that has to do with money.
The internet + money is a bad combination, scammers thrive.
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June 01, 2014, 08:36:31 PM
 #23

hackers and unknown funds for illegal stuff.
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June 01, 2014, 08:48:21 PM
 #24

....Both of them had heard of BTC, but both said that they had heard that Bitcoin was shut down and out of business. I tried explaining that they were probably talking about Gox being shut down, but they were convinced that it was BTC itself that had been shut down.

There is just too much misinformation out there still.

Don't think I'll ever forget the day i was told by a smug few that, "Bitcoin in Japan has crashed!  It is no more. "

People believe what they want to believe.

From my perspective, the main challenges right now are that 1. exchanges keep getting hacked, and while the thefts make headlines, the paybacks--when they exist-- are rarely publicized.

2.  "(eg, way to bypass credit card and banks expensive and inefficient services, and bypass government taxes and protectionism)"  doesn't really make any difference to small buyers/everyday users when it costs so much extra to buy in at exchanges like localbtc and the large exchanges have their trains jacked so often.  Why would consumers want to support something like that?  It's not as though most blue collar workers can afford to lose much.

tldr; If btc was supposed to help the little guy out it is now failing b/c a lot of those little guys are greedy and self-centered, just like Mr. Big Bank and Uncle Sam.

Hate to sound like a downer, but that's what it looks like from this honeybee's POV.

New to the game, too much to learn.
Smiley OD, sarcasm implied.
keithers
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June 01, 2014, 09:00:17 PM
 #25

I dont see that as a problem, personally Huh

You don't see propaganda and an overall misunderstanding of BTC as a problem?? If we want mainstream adoption, we need BTC to be understood by as many people as possible
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June 01, 2014, 10:16:50 PM
 #26

The problem with bitcoin is that it's not popular between most people, we have to spread the word in all the ways we can to let btc grow faster.

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Beliathon
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June 01, 2014, 11:45:26 PM
 #27

The only problem with Bitcoin is that most people aren't intelligent enough to realize what this technology is. If that weren't the case, fiat would already be worthless.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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June 02, 2014, 02:30:36 AM
 #28

The only problem with Bitcoin is that most people aren't intelligent enough to realize what this technology is. If that weren't the case, fiat would already be worthless.
how can we fix this?

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June 02, 2014, 03:36:07 AM
 #29

I want to be a part of an economic reformation on a global scale.  And I'm a very conservative individual.  
Bitcoin is conservatism in the truest, best sense of the word. I say this as an anarchist anti-capitalist.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
turvarya
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June 02, 2014, 07:12:55 AM
 #30

....Both of them had heard of BTC, but both said that they had heard that Bitcoin was shut down and out of business. I tried explaining that they were probably talking about Gox being shut down, but they were convinced that it was BTC itself that had been shut down.

There is just too much misinformation out there still.

Don't think I'll ever forget the day i was told by a smug few that, "Bitcoin in Japan has crashed!  It is no more. "

People believe what they want to believe.

From my perspective, the main challenges right now are that 1. exchanges keep getting hacked, and while the thefts make headlines, the paybacks--when they exist-- are rarely publicized.

2.  "(eg, way to bypass credit card and banks expensive and inefficient services, and bypass government taxes and protectionism)"  doesn't really make any difference to small buyers/everyday users when it costs so much extra to buy in at exchanges like localbtc and the large exchanges have their trains jacked so often.  Why would consumers want to support something like that?  It's not as though most blue collar workers can afford to lose much.

tldr; If btc was supposed to help the little guy out it is now failing b/c a lot of those little guys are greedy and self-centered, just like Mr. Big Bank and Uncle Sam.

Hate to sound like a downer, but that's what it looks like from this honeybee's POV.
Some months ago my brother said something about, that all the Bitcoin-Exchanges are getting shut down(besides MTGox, there were also some small ones, I have never heard about before they were shut down) and therefor it doesn't is safe.
Today he owns some Bitcoins.

https://forum.bitcoin.com/
New censorship-free forum by Roger Ver. Try it out.
chennan
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June 02, 2014, 01:02:48 PM
 #31

The only problem with Bitcoin is that most people aren't intelligent enough to realize what this technology is. If that weren't the case, fiat would already be worthless.
how can we fix this?
We spread the information about BTC and let more people know it. The most important is to bring more daily useful applications related to BTC to us. So more people will accept it and use it. 

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June 02, 2014, 05:34:26 PM
 #32

I dont see that as a problem, personally Huh

http://en.wikipedia.org/wiki/Satire

Wink
nickenburg
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June 02, 2014, 05:46:30 PM
 #33

....Both of them had heard of BTC, but both said that they had heard that Bitcoin was shut down and out of business. I tried explaining that they were probably talking about Gox being shut down, but they were convinced that it was BTC itself that had been shut down.

There is just too much misinformation out there still.

Don't think I'll ever forget the day i was told by a smug few that, "Bitcoin in Japan has crashed!  It is no more. "

People believe what they want to believe.

From my perspective, the main challenges right now are that 1. exchanges keep getting hacked, and while the thefts make headlines, the paybacks--when they exist-- are rarely publicized.

2.  "(eg, way to bypass credit card and banks expensive and inefficient services, and bypass government taxes and protectionism)"  doesn't really make any difference to small buyers/everyday users when it costs so much extra to buy in at exchanges like localbtc and the large exchanges have their trains jacked so often.  Why would consumers want to support something like that?  It's not as though most blue collar workers can afford to lose much.

tldr; If btc was supposed to help the little guy out it is now failing b/c a lot of those little guys are greedy and self-centered, just like Mr. Big Bank and Uncle Sam.

Hate to sound like a downer, but that's what it looks like from this honeybee's POV.
Some months ago my brother said something about, that all the Bitcoin-Exchanges are getting shut down(besides MTGox, there were also some small ones, I have never heard about before they were shut down) and therefor it doesn't is safe.
Today he owns some Bitcoins.

Yeh when mtgox was on the news they made it sound that bitcoin was hacked and it would plummet.
While only 1 exhange was hacked and they made people believe it was bitcoin that was hacked.
People where suddenly talking to me about bitcoin, that they hacked it and bitcoin would drop to 0 now.
The disinformation is to strong, people see no problem at all in lending money they think it's part of the world we live in and we couldnt live without it.
harrymmmm
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June 02, 2014, 08:22:52 PM
 #34

One of the main problems with bitcoin is still all the propaganda that is out there. I was at dinner last night talking to a few friends. They are both financially very successful, and both very well educated. We were talking about investments...stocks, mutual funds, etc. and i brought up Bitcoin. Both of them had heard of BTC, but both said that they had heard that Bitcoin was shut down and out of business. I tried explaining that they were probably talking about Gox being shut down, but they were convinced that it was BTC itself that had been shut down.

There is just too much misinformation out there still.

I thought HSBC was insolvent (probably true) and was put in jail for money laundering (joke).
 Smiley
Zyborg
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June 03, 2014, 04:29:31 PM
 #35

The only problem with Bitcoin is that most people aren't intelligent enough to realize what this technology is. If that weren't the case, fiat would already be worthless.
It's not about being 'intelligent' enough, it's about wanting to understand what it is. People were afraid of the internet, rock music and video games when they came about, not because they weren't capable of understanding them, but rather that they didn't want to.
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June 03, 2014, 04:33:24 PM
 #36

The only problem with Bitcoin is that most people aren't intelligent enough to realize what this technology is. If that weren't the case, fiat would already be worthless.
It's not about being 'intelligent' enough, it's about wanting to understand what it is. People were afraid of the internet, rock music and video games when they came about, not because they weren't capable of understanding them, but rather that they didn't want to.

But once they dipped their toe in the water......those are 3 of the most popular things ever.

Zyborg
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June 03, 2014, 04:35:36 PM
 #37

The only problem with Bitcoin is that most people aren't intelligent enough to realize what this technology is. If that weren't the case, fiat would already be worthless.
It's not about being 'intelligent' enough, it's about wanting to understand what it is. People were afraid of the internet, rock music and video games when they came about, not because they weren't capable of understanding them, but rather that they didn't want to.

But once they dipped their toe in the water......those are 3 of the most popular things ever.
Exactly. Give it some time and we'll get bitcoin into the top 4, haha.
jonald_fyookball
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June 03, 2014, 04:38:11 PM
 #38

The only problem with Bitcoin is that most people aren't intelligent enough to realize what this technology is. If that weren't the case, fiat would already be worthless.
It's not about being 'intelligent' enough, it's about wanting to understand what it is. People were afraid of the internet, rock music and video games when they came about, not because they weren't capable of understanding them, but rather that they didn't want to.

But once they dipped their toe in the water......those are 3 of the most popular things ever.
Exactly. Give it some time and we'll get bitcoin into the top 4, haha.

Yes, the world LOVES bitcoin, they just dont know it yet.

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June 03, 2014, 04:43:56 PM
 #39

I dont think theres any problem with bitcoin at all. Thats what makes it so great.

Zyborg
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June 03, 2014, 04:44:53 PM
 #40

I dont think theres any problem with bitcoin at all. Thats what makes it so great.
The current problem might be that it's directly associated to drug/weapon trade in the eyes of the Common Joe.
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