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Author Topic: Bitcoin on-the-street today  (Read 1376 times)
tvbcof
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May 28, 2014, 06:40:47 AM
 #1


So, I'm in some supply store buying some culvert today.  One of the workers is kind of joking with another customer about all the ways a guy can pay for supplies and ticking off methods.  I interjected 'bitcoin?'  This got a laugh out of the other three who all seemed to have heard of it.

The worker who was helping me said that it is easily counterfeited now and the price has fallen through the floor.  He was clearly very disdainful of Bitcoin and 100% sure of his assertion.  I literally LOL'd and say 'No it's not!'  and proceeded to inform him that I know a lot about it and have made a ton of money screwing with it and he was badly misinformed.

Then I drove out to the yard to pick up the stuff I bought and he eventually wandered out to help me load it.  I asked him where he got his info.  He said that his brother is a banker and would not touch Bitcoin.  'Ah, a banker', I say.  'That explains it.'

The guy had already annoyed me by making me wait for to long (in addition to spouting nonsense about Bitcoin.)  Businesses which don't provide prompt and pleasant service would be advised to not have popcorn machines least irritated customers gobble it down by the handful while they wait and don't worry to much if a bunch of it gets all over the floor.  They had a good price on culvert at least.


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phillipsjk
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May 28, 2014, 07:08:12 AM
 #2

Often rumours have a grain of truth to them. Not sure why the person or their banker friend would think Bitcoins are easy to counterfeit. Bitcoin makes Gold looks easy to counterfeit.

Perhaps the idea of backing up your private keys is that foreign to them.

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ranlo
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May 28, 2014, 07:12:29 AM
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So, I'm in some supply store buying some culvert today.  One of the workers is kind of joking with another customer about all the ways a guy can pay for supplies and ticking off methods.  I interjected 'bitcoin?'  This got a laugh out of the other three who all seemed to have heard of it.

The worker who was helping me said that it is easily counterfeited now and the price has fallen through the floor.  He was clearly very disdainful of Bitcoin and 100% sure of his assertion.  I literally LOL'd and say 'No it's not!'  and proceeded to inform him that I know a lot about it and have made a ton of money screwing with it and he was badly misinformed.

Then I drove out to the yard to pick up the stuff I bought and he eventually wandered out to help me load it.  I asked him where he got his info.  He said that his brother is a banker and would not touch Bitcoin.  'Ah, a banker', I say.  'That explains it.'

The guy had already annoyed me by making me wait for to long (in addition to spouting nonsense about Bitcoin.)  Businesses which don't provide prompt and pleasant service would be advised to not have popcorn machines least irritated customers gobble it down by the handful while they wait and don't worry to much if a bunch of it gets all over the floor.  They had a good price on culvert at least.



The counterfeiting part is what everyone brings up to me too. "How can you PROVE it's impossible to copy? Anything can be broken" is basically where it always leads. And nobody that asks that question understands enough about computers to know what's happening when mining and such, so they always default to "it's a computer, it can be broken."


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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Relnarien
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May 28, 2014, 07:33:59 AM
 #4

Bitcoin newbies ALWAYS assume that the coins are stored inside the wallet. Based on that assumption, they then conclude that coins can be counterfeited since one can do whatever he/she wants to a file saved inside his/her own computer. It's a reasonable conclusion based on a flawed assumption. Once you explain to them what the blockchain is, it usually clears everything right up.
ranlo
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May 28, 2014, 07:40:23 AM
 #5

Bitcoin newbies ALWAYS assume that the coins are stored inside the wallet. Based on that assumption, they then conclude that coins can be counterfeited since one can do whatever he/she wants to a file saved inside his/her own computer. It's a reasonable conclusion based on a flawed assumption. Once you explain to them what the blockchain is, it usually clears everything right up.

This hasn't worked for me. I even tried the public/private key scenario, and it leads to "someone else can just make a duplicate." Or things like that. The way Bitcoin works is really complicated. Most people that ask questions can't even understand the high-level version.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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May 28, 2014, 07:54:31 AM
 #6

I't s just confirmation of my thougt, that Bitcoin is too complicated for ordinary person to handle. My mum would get lost if she would had to make transactions alone.
ranlo
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May 28, 2014, 08:02:42 AM
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I't s just confirmation of my thougt, that Bitcoin is too complicated for ordinary person to handle. My mum would get lost if she would had to make transactions alone.

It really is. Even for people I know that deal with programming, computer repair, etc., it has proven to be tough because of the principles involved. Basically it ends up coming down to "just trust the system" (and, really, why should people do that?).


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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Aswan
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May 28, 2014, 08:13:16 AM
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Bitcoin newbies ALWAYS assume that the coins are stored inside the wallet. Based on that assumption, they then conclude that coins can be counterfeited since one can do whatever he/she wants to a file saved inside his/her own computer. It's a reasonable conclusion based on a flawed assumption. Once you explain to them what the blockchain is, it usually clears everything right up.

This hasn't worked for me. I even tried the public/private key scenario, and it leads to "someone else can just make a duplicate." Or things like that. The way Bitcoin works is really complicated. Most people that ask questions can't even understand the high-level version.

They can log into their online banking account from different locations or give the password for it to multiple people but it one of the guys who have the password send money from the account (or if you send money from one of the locations at which you are logged in), the money won't be available for the other people that have the password (or at the other locations you are logged in).
Maybe thats an explanation people understand more easily since they are more used to the scenario.
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May 28, 2014, 08:19:10 AM
 #9

As an IT guy with IT friends ánd co-workers:
Bitcoins are still too complex, too scary and to weird for a lot of people to even consider it seriously : And I'm talking about highly educated IT people here!

It has a very looooong way to go, to win the hearts of people 'on the street'.

Mainstream media reporting about Bitcoins does not make it mainstream...at all/yet!

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May 28, 2014, 08:26:03 AM
 #10

Bitcoin newbies ALWAYS assume that the coins are stored inside the wallet. Based on that assumption, they then conclude that coins can be counterfeited since one can do whatever he/she wants to a file saved inside his/her own computer. It's a reasonable conclusion based on a flawed assumption. Once you explain to them what the blockchain is, it usually clears everything right up.

This hasn't worked for me. I even tried the public/private key scenario, and it leads to "someone else can just make a duplicate." Or things like that. The way Bitcoin works is really complicated. Most people that ask questions can't even understand the high-level version.

They can log into their online banking account from different locations or give the password for it to multiple people but it one of the guys who have the password send money from the account (or if you send money from one of the locations at which you are logged in), the money won't be available for the other people that have the password (or at the other locations you are logged in).
Maybe thats an explanation people understand more easily since they are more used to the scenario.

But how does this explain how your coins are safe and how nobody else can hack them (especially when Target, Sony, etc. all get hacked)? This is where the big issues come from I think.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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May 28, 2014, 08:48:00 AM
 #11

It's almost like clockwork, that people who are not at all invested in btc get a real kick out of it when the btc price plummets... I have never understood people who want things they are not involved in to fail.  This seems especially so with btc..
turvarya
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May 28, 2014, 08:52:23 AM
 #12

Bitcoin newbies ALWAYS assume that the coins are stored inside the wallet. Based on that assumption, they then conclude that coins can be counterfeited since one can do whatever he/she wants to a file saved inside his/her own computer. It's a reasonable conclusion based on a flawed assumption. Once you explain to them what the blockchain is, it usually clears everything right up.

This hasn't worked for me. I even tried the public/private key scenario, and it leads to "someone else can just make a duplicate." Or things like that. The way Bitcoin works is really complicated. Most people that ask questions can't even understand the high-level version.

They can log into their online banking account from different locations or give the password for it to multiple people but it one of the guys who have the password send money from the account (or if you send money from one of the locations at which you are logged in), the money won't be available for the other people that have the password (or at the other locations you are logged in).
Maybe thats an explanation people understand more easily since they are more used to the scenario.

But how does this explain how your coins are safe and how nobody else can hack them (especially when Target, Sony, etc. all get hacked)? This is where the big issues come from I think.
It can not be hacked, because the whole design is based on cryptography. I think, that is an easy way to put it.
Snowden also says, that the only true way to secure your self is using strong cryptography.

https://forum.bitcoin.com/
New censorship-free forum by Roger Ver. Try it out.
Aswan
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May 28, 2014, 08:54:30 AM
 #13

Bitcoin newbies ALWAYS assume that the coins are stored inside the wallet. Based on that assumption, they then conclude that coins can be counterfeited since one can do whatever he/she wants to a file saved inside his/her own computer. It's a reasonable conclusion based on a flawed assumption. Once you explain to them what the blockchain is, it usually clears everything right up.

This hasn't worked for me. I even tried the public/private key scenario, and it leads to "someone else can just make a duplicate." Or things like that. The way Bitcoin works is really complicated. Most people that ask questions can't even understand the high-level version.

They can log into their online banking account from different locations or give the password for it to multiple people but it one of the guys who have the password send money from the account (or if you send money from one of the locations at which you are logged in), the money won't be available for the other people that have the password (or at the other locations you are logged in).
Maybe thats an explanation people understand more easily since they are more used to the scenario.

But how does this explain how your coins are safe and how nobody else can hack them (especially when Target, Sony, etc. all get hacked)? This is where the big issues come from I think.

It's just for a more simple understanding. You can just add that they cannot be taken without your consent if you took the necessary precautions. It's just to get people to understand it by comparing it to things they already know.
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May 28, 2014, 11:25:54 AM
 #14

I think we should be happy with the awareness at the moment.

This people in the shop are likely to be laggards or late majority at best


They probably only just made a Facebook account and will get into bitcoin when a next gen coin is starting to displace it.

The IT colleagues on the other-hand is probably something to worry about.  These are the early adopters we desperately need to educate, which can be best done by directing them to informative articles such as:
http://www.businessinsider.com/bitcoin-presentation-2014-4#this-is-the-most-up-to-date-quasi-official-presentation-out-there-1

I also feel that bitcoin needs marketing campaigns, tailored to each country where possible, to spread the bitcoin love.

I am too young to remember, but it would be very interesting to see how the internet crossed the chasm and learn lessons from it.



 
 
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validium
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May 28, 2014, 03:25:41 PM
 #15

I't s just confirmation of my thougt, that Bitcoin is too complicated for ordinary person to handle. My mum would get lost if she would had to make transactions alone.

Well i tried introducing bitcoins to one of my family members (female), first thing she asked me is how it can help her. I explained to her the advantages of bitcoin over fiat and her response was that am mad Huh

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May 28, 2014, 03:33:53 PM
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The current generation of the population who are not cs competent will have to die out before bitcoin hits mainstream. About 40 years.

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May 28, 2014, 04:06:01 PM
 #17

I was looking at buying a new vehicle sometime in the near future.  I want to either personalize the license plate to read BTC-TRK or get a huge emblem on it to say "Purchased with Bitcoin".  That should turn some heads when I'm stuck in commuter traffic.

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May 28, 2014, 04:13:35 PM
 #18

I't s just confirmation of my thougt, that Bitcoin is too complicated for ordinary person to handle. My mum would get lost if she would had to make transactions alone.

It really is. Even for people I know that deal with programming, computer repair, etc., it has proven to be tough because of the principles involved. Basically it ends up coming down to "just trust the system" (and, really, why should people do that?).

It is a bit difficult, but wait for QuickCoin (http://vimeo.com/94730113) and Circle (http://venturebeat.com/2014/05/16/circles-new-bitcoin-service-is-so-easy-your-parents-could-use-it/). They will make it pretty simple.

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May 28, 2014, 04:25:14 PM
 #19

I have tried to introduce bitcoin to many friends. Most of them cannot are not "buying" it because they see no advantage of bitcoin over fiat. They can shop local and overseas with fiat and credit card, and there are so many things they cannot buy with bitcoin. They are not wrong. They cannot visualise how bitcoin can compliment fiat in a global perpective. One of the many advantages of bitcoin is sending money overseas in an instant with extremely low fees.
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May 28, 2014, 04:29:26 PM
 #20

I have tried to introduce bitcoin to many friends. Most of them cannot are not "buying" it because they see no advantage of bitcoin over fiat. They can shop local and overseas with fiat and credit card, and there are so many things they cannot buy with bitcoin. They are not wrong. They cannot visualise how bitcoin can compliment fiat in a global perpective. One of the many advantages of bitcoin is sending money overseas in an instant with extremely low fees.

Perhaps the marketing efforts are targeting the wrong people?  Wouldn't this be more useful to an immigrant population? 

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