Study shows majority of U.S. consumers ‘unlikely’ to purchase and use bitcoin

[the_poet]

http://www.coinbuzz.com/2014/09/05/study-majority-u-s-consumers-unlikely-purchase-use-bitcoin/

[LiteCoinUser84]

Well that's obvious. In 2010 it would have been less people... and in 2016 as adoption grows there will be more people... an interesting study/forecast into long term consumer choice about Bitcoin would be largely speculative and incredibly complex but more useful.

[testconpastas2]

translation: study shows majority of US consumers doesnt know how fiat really works.

[Meuh6879]

Massachusetts Division of Banks (MDB)

OK ...  it's a partial report.

[oceans]

It's going to be like that until we can give the public more of a good reason to at least give bitcoin a try. We are fighting with those who enjoy trying to make bitcoin look bad by constantly finding the negatives and not letting people know of the positives. The longer bitcoin is around and the more that can be done with it the better chance there is of it becoming more popular.

[BittBurger]

It's going to be like that until we can give the public more of a good reason to at least give bitcoin a try.

the more that can be done with it the better chance there is of it becoming more popular.

Agree. 

The public needs incentive.  And taking the mentality of Peter Todd is unacceptable.  ("The public doesn't need incentive, 90% are fine with Paypal and they can stay that way, Bitcoin will only be appealing to 10%")

Paraphrase.

Someone needs to take the reigns of the direction and priority list of BTC development, and someone needs to create the killer app that incentivizes the public to even give a shit about Bitcoin in the first place.

-B-

[iluvpie60]

i have been here a lil while and lurked and read things and whatever. i can safely say using bitcoin only made sense recently, when newegg did a 30% off if you used bitcoin. i didn't buy anything as sales are usually 30 to 40% off anyways or whatever and i don't need nething

[Bigbear8]

The way bitcoin was introduced to general public was not good. Many of them still has misconceptions about high inflation and variability. There are also comments made like "Bitcoin can be easily taken away by hackers"...things have to be changed...people have to be taught about crypto currencies.

[counter]

The study should read, "Study shows majority of U.S. consumers ‘unlikely’ to purchase and use bitcoin until the economy tanks again and then they'll be to late for cheap  coins".

As time passes and more merchants accept Bitcoin this will change but buy then the price will not be so low and all the newbs will panic buy and many of them will likely do so during a bubble type phase.  

[BitCoinDream]

http://www.coinbuzz.com/2014/09/05/study-majority-u-s-consumers-unlikely-purchase-use-bitcoin/

Quiet expected, because Bitcoin is mainly challenging USD's monopoly. So, whoever has a big USD stash and cant see the future, will be opposed to Bitcoin.

[TippingPoint]

There is one step that is known to make it more "likely" that a U.S. consumer will purchase and use Bitcoins.

• Motivate them to download a Bitcoin wallet.

[Mightycoin]

There is one step that is known to make it more "likely" that a U.S. consumer will purchase and use Bitcoins.

• Motivate them to download a Bitcoin wallet.

Yeah,but "You can only lead a horse to water not make it drink".Only motivating them download a bitcoin wallet is sufficient in your opinion to make the use and adpot bitcoin?

[TippingPoint]

Having a Bitcoin wallet can establish an emotional connection between a person and Bitcoin.  It can lead them to think and to dream.  It can plant a seed.

Most wallets are free, easy and quick to download.  There is no other equivalent first step for Bitcoin adoption with a better return on investment.

You can't win if you don't play.

[franky1]

the OP has the statistics WRONG

summary of my calculations - https://bitcointalk.org/index.php?topic=759492.msg8563832#msg8563832

37% of todays population, will in the future POSSIBLY adopt bitcoin.. sounds good to me
but if EVERYONE atleast knew about it rather than just half the population.. then the possible adoption would be over 70%.

the reason why the OP believes that consumers are unlikely to purchase it, is not due to bitcoin being bad, but because people simply dont know about it

[dankkk]

Having a Bitcoin wallet can establish an emotional connection between a person and Bitcoin.  It can lead them to think and to dream.  It can plant a seed.

Most wallets are free, easy and quick to download.  There is no other equivalent first step for Bitcoin adoption with a better return on investment.

You can't win if you don't play.

I would think for this connection to be made, a person would need to have more then an empty wallet. They would likely need to at least own some amount of bitcoin. This would allow a person to have the same connection that a person has with their money.

A person really needs to actually use and understand how bitcoin works in order for them to see what it's true potential is.

[H.W.Z]

Big media and newspapers are always reporting negative news about BTC, which make the masses have a bad impression of BTC. Only the BTC related websites are covering all factors of BTC things. But the most population won't touch such sites. It will delay the adoption rate.

[beetcoin]

i agree that bitcoin doesn't really bring anything of interest to the average person.. which is why i don't like the internet comparisons. the internet became so huge because it provided something unique that people actually wanted.

[FortuneJack]

bitcoin is not as big as internet. It's target market can't be that big as of now. But no one knows what will happen in the future.

[itsAj]

i agree that bitcoin doesn't really bring anything of interest to the average person.. which is why i don't like the internet comparisons. the internet became so huge because it provided something unique that people actually wanted.

The thing of interest that bitcoin will have to the "average person" is the lower cost of using it verses other payment methods. You can send money to anyone in the world more or less instantly for what is essentially free. There is not any other way of doing this.

[BittBurger]

i agree that bitcoin doesn't really bring anything of interest to the average person.. which is why i don't like the internet comparisons. the internet became so huge because it provided something unique that people actually wanted.

The thing of interest that bitcoin will have to the "average person" is the lower cost of using it verses other payment methods. You can send money to anyone in the world more or less instantly for what is essentially free. There is not any other way of doing this.

True that remittances (what you refer to above) are Bitcoins strong suit.   Yet shockingly, nobody is doing a damn thing to get the Bitcoin remittances market going.  Aside from ( I suppose) Robocoin, which says it has a remittances tool on the way.   Quite a few people are dissatisfied with the Robocoin kiosks, the insane "spread" from buy to sell being put on them by the greedy ATM owners, and of course the complete lack of privacy.  This article however is most likely referencing consumer adoption locally for buying and selling.

-B-