How Average Joe Thinks about Bitcoin and Altcoins

[kelsey]

I actually had a quick look at stocks, forex, CFD and found little returns compared to bitcoin/altcoin and I had to pay the exchange something like $19.95 for a trade or something and then a 0.25% fee and then some out of the world identification and then went;

..."crypto currency is the easiest way to get into trading and learn new skills, avoiding scams, trading tips etc etc to make me a better investor"....

+1 as a real life fulltime trader, I recommend people try crypto trading to learn trading without having to bet the house. specially when a few giveaway coins can seed your initial trading.

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[BitcoinNational]

The average Joe probably does not know altcoins exist.

The average Joe probably does not know Zimbabwe exists.

[Ultros]

The average Joe thought planes would never fly because they were too big/heavy. Just saying.

[digitalindustry]

just read this article: http://www.cbc.ca/news/business/salaries-paid-in-bitcoin-a-growing-trend-in-canada-1.2752441

then switched over to the comments, let me summarize em here.

The_Voice:
"The solution is simple: Just don't work for any company that wants to use "bitcoin" to escape its financial obligations to pay an employee in real dollars."

Noharass
"When Bitcoin goes bust, I hope the Canadian government does not bail these people out of their financial mess."

booyakasha
"These people will end up broke one day and will be on here crying about the rest of us needing to pay more taxes to support their social welfare programs."

Jordan
"I wouldn;t do anything more than virtual work for such virtual money..."

nexxtep54
"Any savvy techie with the proper software and code can make his own coin and steal yours. No thanks."

Abdul Rahman Hussein
"why take bitcoin? bitcoins are shit, in my opinion.
It is based on the what people believe on it value and it is electronic.
which means that when blackout or hacker can wipe your wallet clean. The chance of that happen is more likely, than hyperinflation or economic collapse. Also Canadian dollar are backed up by gold reserve and protect by the government as a legal tender. Bitcoin has none.Also , big bank spend huge loads on internet security and bitcoin has none."

norain
"Dont go boo hooing to the goverment when you wake up with a empty screen one day. You have to be crazy to accept this rubbish. Like any ponzi scam it will come down. You wait some hacker is working on this as we speak. Your going to be sorry for messing with this junk and thats what you own is junk. what a waste of hard work. It really should be named bite coin because thats what its going to do bite you !"

sachmo
"Bitcoin started by an unknown in 2009 and people are buying into it. I think there is going to be a lot people either very broke or very disappointed in the end. Someone is making money here and it probably isn't the average Joe."

.... sums up how 'Average Joe' thinks... and why Bitcoin (and even worse Altcoins) never truly went to mainstream acceptance within 5 years and most likely never ever will

~CfA~

Two problem:

1. The information source.

2. The demographic of the people that get information from that source.


Stepping past people with low awareness IQ, i'm sure the world is split, a much better sociological analysis would be the take up of say for example an Ecuadorian issued digital currency.

So that would be a much better measure of where malleable "people" are with regard to their "energy tokens"  

as people become more "self aware" education plays a part, that of course still doesn't help Bitcoin the doomed monopoly crypto.

[digitalindustry]

The average Joe probably does not know altcoins exist.

The average Joe probably does not know Zimbabwe exists.

Japan?

[BitcoinNational]

The average Joe probably does not know altcoins exist.

The average Joe probably does not know Zimbabwe exists.

Japan?

Joe knows Japan, "Japs, theys the ones make radios and we'z nukes'm"
Just don't ask where it is on the map or what language is spoken there.

[AnonyMint]

just read this article: http://www.cbc.ca/news/business/salaries-paid-in-bitcoin-a-growing-trend-in-canada-1.2752441

then switched over to the comments, let me summarize em here.

The_Voice:
"The solution is simple: Just don't work for any company that wants to use "bitcoin" to escape its financial obligations to pay an employee in real dollars."

Noharass
"When Bitcoin goes bust, I hope the Canadian government does not bail these people out of their financial mess."

Jordan
"I wouldn;t do anything more than virtual work for such virtual money..."

nexxtep54
"Any savvy techie with the proper software and code can make his own coin and steal yours. No thanks."

Abdul Rahman Hussein
"why take bitcoin? bitcoins are shit, in my opinion.
It is based on the what people believe on it value and it is electronic.
which means that when blackout or hacker can wipe your wallet clean. The chance of that happen is more likely, than hyperinflation or economic collapse. Also Canadian dollar are backed up by gold reserve and protect by the government as a legal tender. Bitcoin has none.Also , big bank spend huge loads on internet security and bitcoin has none."

norain
"Dont go boo hooing to the goverment when you wake up with a empty screen one day. You have to be crazy to accept this rubbish. Like any ponzi scam it will come down. You wait some hacker is working on this as we speak. Your going to be sorry for messing with this junk and thats what you own is junk. what a waste of hard work. It really should be named bite coin because thats what its going to do bite you !"

sachmo
"Bitcoin started by an unknown in 2009 and people are buying into it. I think there is going to be a lot people either very broke or very disappointed in the end. Someone is making money here and it probably isn't the average Joe."

.... sums up how 'Average Joe' thinks... and why Bitcoin (and even worse Altcoins) never truly went to mainstream acceptance within 5 years and most likely never ever will

~CfA~

Yup. And the bolded one is spot on. Any one designing a crypto-currency better understand who the target market is.

[gatra]

And this is how the Today Show perceived the internet in 1994:

https://www.youtube.com/watch?v=JUs7iG1mNjI

Is it possible that Bitcoin and all P2P distributed token systems will end up staying niche? Yes. However, just ask Argentinians how many more collapses they are willing to accept before they adopt something better. Maybe it'll take a generation or more, but I don't see distributed/antifragile systems staying niche, even if the average populace doesn't give a crap about it today.

argentinians take one collapse every 15 years, since 100 years ago, we're used to that, that's not a weighting factor. But btc is getting trendy and lots of snobs are starting to learn about it. We love "trendy". Will it stay or will it fade away like trendy fashions? idk

[rdnkjdi]

your bank account value or how much you have made from Bitcoin means nothing in regards to the OP's point.

i have made plenty cashing out BTC at $1,000 a coin myself and i am typing this on one hell of a fancy computer i bought with Profits
i spent close to 4 grand on a desktop PC to surf the web LOL
My Newegg PC parts order was so big it got my Paypal account seized and put under investigation ahhahah

but

it has nothing what so ever to do with money in your pocket ..it's about PUBLIC PERCEPTION.

Reading public opinion on BTC has been a hobby of mine for a year straight.. i have gone to and watched various sites like general PC news tech sites
and the overall reaction to bitcoin has 100% of the time been horrible.. they scream ponzi scheme and coin backed by nothing..
as a smart investor i have been keeping tabs on what people think.. unlike most of you with your selfish / greedy ignorant blind folded heads in the ground !

and i have told you all in the scene this over and over.. it's true and the OP is correct !!

if you don't want to believe it fine but i think you guys are just in denial.

he did NOT cherry pick 5 bad comments LOL
wake up guys.. come on, take off the bag holder goggles  

Can you succinctly explain if crypto is dead why you're still here?