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Author Topic: How Average Joe thinks about Bitcoin  (Read 4034 times)
tinof
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September 02, 2014, 01:11:58 AM
 #21

Some of the points raised by average joe are actually very good.

Those facts actually make me think twice on my bitcoin position.
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September 02, 2014, 01:23:39 AM
 #22

The average joe will be the late adopters. Their time will come but we do not need them yet at this time.
QFT



Of course the fools of the world can't see the forest through the trees! It's way too early for most of those near the median of the IQ bell curve. They'll come around sooner or later, when their nation's fiat is collapsing under the weight of inflation and/or debt-crisis.

This 'telephone' has too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us."
-- Western Union internal memo, 1876.

"The wireless music box has no imaginable commercial value. Who would pay for a message sent to nobody in particular?"
-- David Sarnoff's associates in response to his urgings for investment in the radio in the 1920s.

"The concept is interesting and well-formed, but in order to earn better than a 'C,' the idea must be feasible."
-- A Yale University management professor in response to Fred Smith's paper proposing reliable overnight delivery service. (Smith went on to found Federal Express Corp.)

"Who the h*** wants to hear actors talk?"
-- H.M. Warner, Warner Brothers, 1927

"I'm just glad it'll be Clark Gable who's falling on his face and not Gary Cooper."
-- Gary Cooper, on his decision to not take the leading role in "Gone With The Wind."

"A cookie store is a bad idea. Besides, the market research reports say America likes crispy cookies, not soft and chewy cookies like you make."
-- Response to Debbi Fields' idea of starting Mrs. Fields' Cookies.

"We don't like their sound, and guitar music is on the way out."
-- Decca Recording Co. rejecting the Beatles, 1962.

"Heavier-than-air flying machines are impossible." -- Lord Kelvin, president, Royal Society, 1895.

"If I had thought about it, I wouldn't have done the experiment. The literature was full of examples that said you can't do this."
-- Spencer Silver on the work that led to the unique adhesives for 3-M "Post-It" Notepads.

"So we went to Atari and said, 'Hey, we've got this amazing thing, even built with some of your parts, and what do you think about funding us? Or we'll give it to you. We just want to do it. Pay our salary, we'll come work for you.' And they said, 'No.' So then we went to Hewlett-Packard, and they said, 'Hey, we don't need you. You haven't got through college yet.'"
-- Apple Computer Inc. founder Steve Jobs on attempts to get Atari and H-P interested in his and Steve Wozniak's personal computer.

"Professor Goddard does not know the relation between action and reaction and the need to have something better than a vacuum against which to react. He seems to lack the basic knowledge ladled out daily in high schools."
-- 1921 New York Times editorial about Robert Goddard's revolutionary rocket work.

"You want to have consistent and uniform muscle development across all of your muscles? It can't be done. It's just a fact of life. You just have to accept inconsistent muscle development as an unalterable condition of weight training."
-- Response to Arthur Jones, who solved the "unsolvable" problem by inventing Nautilus.

"Drill for oil? You mean drill into the ground to try and find oil? You're crazy."
-- Drillers whom Edwin L. Drake tried to enlist in his project to drill for oil in 1859.

"Stocks have reached what looks like a permanently high plateau."
-- Irving Fisher, Professor of Economics, Yale University, 1929.

"Airplanes are interesting toys but of no military value."
-- Marechal Ferdinand Foch, Professor of Strategy, Ecole Superieure de Guerre.

"Everything that can be invented has been invented."
-- Charles H. Duell, Commissioner, U.S. Office of Patents, 1899.

"Louis Pasteur's theory of germs is ridiculous fiction".
-- Pierre Pachet, Professor of Physiology at Toulouse, 1872

"The abdomen, the chest, and the brain will forever be shut from the intrusion of the wise and humane surgeon".
-- Sir John Eric Ericksen, British surgeon, appointed Surgeon-Extraordinary to Queen Victoria 1873.

"No flying machine will ever fly from New York to Paris."
-- Orville Wright.

"When others are greedy, be fearful. When others are fearful, be greedy."
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Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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September 02, 2014, 01:37:10 AM
 #23

You're just cherry picking examples of people who guessed the future right.

There's probably more examples of failed enterprise but it doesn't get documented cause nobody cares about those stories

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Beliathon
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September 02, 2014, 01:45:01 AM
 #24

You're just cherry picking examples of people who guessed the future right.
1. That is a list of quotes from people who guessed the future WRONG.

2. Guessing is for people without strong observation and deduction skills.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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September 02, 2014, 01:58:49 AM
 #25

You're just cherry picking examples of people who guessed the future right.

There's probably more examples of failed enterprise but it doesn't get documented cause nobody cares about those stories
This is true. The vast majority of business ideas, even at the most successful companies end up failing. Most inventions end up never being used.

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September 02, 2014, 04:10:07 AM
 #26

The Average Shmoe doesn't have a clue what is good for them and the is clear.  The depend on the epic fail we call a governments to wipe their bottoms for them and make them a bottle.  How many average Joe's had full faith in the Internet when it was in it's early stages?  Even after it has been proven to be revolutionary how many average Joe's still have very little understanding of the internet?  Point is the average joe's are follower's not leader's and history proves that point again and again.
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September 02, 2014, 04:14:53 AM
 #27

I remember when some companies refused to have web sites because they didn't want to be associated to porn sites, places that stole credit card number, and web sites with dancing bear gifs.

What? I guess that haven't been in the intrnet from back then but this sounds just weird. People are not willing to take risks, maybe a payment system that offers what bitcoin does sounds too good to be true for them.
I don't think it was many companies that were like this but it was somewhat of an issue in the early 90's when the internet was just starting to be used by the public.

Bitcoin used to be associated with a lot of bad things just like the internet was but is becoming less so.

The internet is still related to bad things and most likely it will always be. But still billions of people use it daily, not all of them are marked as criminals. If bitcoin manages to get even bigger, I guess that those dark things it's being used for will just be a small portion of daily transactions. Because As long as there's neutrality and both bitcoin and the internet have this in common, there are going to be both great and bad things but it won't matter if it reaches mainstream use.
I think the internet has overcome the association with bad things because it is also associated with many more good things, and has increased the standard of living for so many throughout the world. Pretty much everything is somehow associated with bad things, the question with bitcoin is are there enough good things that it is associated with/is used for to overcome the bad.....

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September 02, 2014, 04:23:58 AM
 #28

Some of the points raised by average joe are actually very good.

Those facts actually make me think twice on my bitcoin position.

That just means your open minded but don't let the words of people who don't understand what Bitcoin is makeup you mind for you.  Pro tip, these comments have been proven wrong time and time again and the price has gone up and the trend hasn't been broken to my knowledge.  Don't be afraid to listen to different opinions but try and keep in mind how qualified the people giving you advice are when it comes to investing into your future.   Wink
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September 02, 2014, 04:29:09 AM
 #29

Reading those comments give me a headache -_-
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September 02, 2014, 04:39:16 AM
 #30

Some of the points raised by average joe are actually very good.

Those facts actually make me think twice on my bitcoin position.

That just means your open minded but don't let the words of people who don't understand what Bitcoin is makeup you mind for you.  Pro tip, these comments have been proven wrong time and time again and the price has gone up and the trend hasn't been broken to my knowledge.  Don't be afraid to listen to different opinions but try and keep in mind how qualified the people giving you advice are when it comes to investing into your future.   Wink

Spot on. There's a saying "if you can't control your own mind, the world will happily do it for you" Considering the average joe has a degree from cable television university and is mostly concerned with
the Kardashians and dancing with the stars, be careful whose opinions you buy into.
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September 02, 2014, 05:40:17 AM
 #31

In the mid 90s I remember listening to a talk radio show while driving in a car.  The subject was online banking.  The host asked callers to call in and say whether they would feel safe banking online.  Of the dozens of callers that called in, I can only remember one person saying they would be Ok with online banking.  Today there may still be a few online banking luddite holdouts but the vast majority of people bank online without giving it a second thought.  Similarly, whenever I hear about some survey that says the vast majority of people don't like Bitcoin I just think that that means anyone getting in now can still be considered an early adopter.  The average Joe's opinion on something doesn't trump math.

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September 02, 2014, 06:32:36 AM
 #32

I think that average Joe still didn't hear about Bitcoin.'' If he know something, he probably think that this is just some ''virtual currency'' without value.
Until some ''big merchants'' accept Bitcoin this will be the case, unfortunately.

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September 02, 2014, 06:57:11 AM
 #33

I remember when some companies refused to have web sites because they didn't want to be associated to porn sites, places that stole credit card number, and web sites with dancing bear gifs.

this
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September 02, 2014, 06:59:31 AM
 #34

A lot of people that I have spoken to about BTC (who are well educated people), think bitcoin is either a scam or a ponzi scheme of some sort. A few of them thought that BTC was a company that had gotten shut down (they were referring to Gox I am assuming).  TBH, i would say that probably 1 out of every 5 people that I have spoken to would consider using it. We have a ways to go for adoption obviously...
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September 02, 2014, 07:06:08 AM
 #35

Hmmm to tell you the truth I find it a bit crazy when learning about bitcoin. But working around it, I think bitcoin has a lot of potential and has a lot of space for improvements. It will surely be a thing in the future.
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September 02, 2014, 07:09:13 AM
 #36

It takes time for bitcoin to penetrate into the wider society.
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September 02, 2014, 11:16:02 AM
 #37

This sort of gives me hope. I consider myself a boat misser, since I didn't buy back in the day and im not filthy rich now. But maybe im still an early adopter after all, not pioneer tier, but early adopter, and maybe with 10 BTC, i can be rich in 10 years, when the average moron is FORCED to move their assets into alternatives because the FIAT ponzi scheme starts collapsing. I said it before, we need it in eBay and Amazon as the start.

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September 02, 2014, 11:58:49 AM
 #38

You're just cherry picking examples of people who guessed the future right.

There's probably more examples of failed enterprise but it doesn't get documented cause nobody cares about those stories
This is true. The vast majority of business ideas, even at the most successful companies end up failing. Most inventions end up never being used.

If 1% of new ideas materialised, we would have been in a much better world.
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September 02, 2014, 12:08:07 PM
 #39

That is why I do not worry about recruiting just anyone to come use Bitcoin.

The new economy does not need to be run by the old guard and idiots.

Yeah. In 1993 and 1994 I talked to people about domain names and how they should register a few. Or at least one for their business. Only one guy (who was a tech guy) did out of dozens. 2-4 years later they were kicking themselves. But even then there were some good names left.

Read about bitcoin on its first mention on slashdot, fall of 2010.  Everyone then sounded like these Canadians now and many in people in the years between. At every point people say " it's too late, I'm not an early adopter."
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September 02, 2014, 12:09:24 PM
 #40

You're just cherry picking examples of people who guessed the future right.

There's probably more examples of failed enterprise but it doesn't get documented cause nobody cares about those stories

None of those people were right!
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