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Author Topic: Why consumers are not adopting BTC  (Read 6952 times)
BillyBones
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June 22, 2015, 06:01:31 PM
 #161

Give them time and they may, but it is very risky for consumers as the moment. If you buy btc it could lose value before you've had the chance to spend it making it not very good at all in this regard.
Still consumers do not have knowledge of Bitcoin, they would definitely prefer Bitcoin transactions once they would know the real value of the digital currency. Consumers are always looking for security, transparency and hassle free methods, unlike some business venture do not like to their financial transaction to be transparent because of tax savings.
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June 22, 2015, 06:14:57 PM
 #162

Too bad you can't buy a car on Amazon.
Not good for re-sale, but there are car dealerships and even a manufacturer that takes bitcoin. Here is what you can buy through Overstock's car buying service. Really any kind of car you want.

http://cars.overstock.com/

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June 22, 2015, 06:19:10 PM
 #163

Too bad you can't buy a car on Amazon.
Not good for re-sale, but there are car dealerships and even a manufacturer that takes bitcoin. Here is what you can buy through Overstock's car buying service. Really any kind of car you want.

http://cars.overstock.com/

That's great, but personally I wouldn't buy anything with bitcoin unless I were getting a 10%-20% discount. Bitcoin is not quick to acquire. No point in acquiring it for a 1% fee and then using it like cash with no advantages. But I'll buy stuff on Amazon for a discount with bitcoin all day long.  

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ifightformerkel
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June 22, 2015, 07:08:28 PM
 #164

It only need time.
Maybe some company already develop to accept bitcoins.
And when people like it and other company see it it will be like a chain reaction, then every other shop try to integrate bitcoin as fast as possible.
Because nobody will lose customers.
1 big shop need some balls and try it.

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June 22, 2015, 07:31:08 PM
 #165

It only need time.
Maybe some company already develop to accept bitcoins.
And when people like it and other company see it it will be like a chain reaction, then every other shop try to integrate bitcoin as fast as possible.
Because nobody will lose customers.
1 big shop need some balls and try it.
You mean like Dell? Microsoft?

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ifightformerkel
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June 22, 2015, 07:57:50 PM
 #166

It only need time.
Maybe some company already develop to accept bitcoins.
And when people like it and other company see it it will be like a chain reaction, then every other shop try to integrate bitcoin as fast as possible.
Because nobody will lose customers.
1 big shop need some balls and try it.
You mean like Dell? Microsoft?

yea like Dell or Microsoft, or any other big company like walmart, ebay, amazon or Shell.
When it will be a sucess then the next companys will follow and at the end everyone will have this option.
Its only a matter of time.

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June 22, 2015, 08:03:03 PM
 #167

Give them time and they may, but it is very risky for consumers as the moment. If you buy btc it could lose value before you've had the chance to spend it making it not very good at all in this regard.


we are betting waiting on the usd currency to give up the ghost finally.
maheshmahi
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June 27, 2015, 07:19:52 AM
 #168

Because there is trading problem.
Not everyone are addicted to this.

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June 27, 2015, 07:38:00 AM
 #169

Because there is trading problem.
Not everyone are addicted to this.

this isn't the reason, they are not adopting it because bitcoin isn't a valide alternative for them, it does not bring any advantages over fiat, and they do not care about decentralization

and all this because they are ignorant and they do not want to learn about bitcoin, maybe they could find that they could save time and money if they use the blockchain instead of a standard fiat circuit
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June 27, 2015, 08:27:10 AM
 #170

This Sunday afternoon I made a purchase on ebay. A few minutes later I got an email from ebay stating that the item page had been removed because the seller's account had been accessed by an unauthorized 3rd party. I immediately logged into my paypal account and cancelled the payment.

You might think paypal was able to just cancel the payment without bothering my bank account, but nope. The money was immediately deducted from my available balance but it didn't show up in my paypal account for three days. I then requested paypal to transfer it back to my bank account and that took two more days- a total of five days.

Had that transaction happened with Bitcoin, the money would have come out of my wallet app into a multi-sig escrow address on the blockchain and paypal would have only received one of three private keys which, upon my cancellation, would have immediately returned my bitcoins back to my wallet. This is why Bitcoin will eventually be adopted.

The reason it hasn't been adopted in mass yet is because consumers won't adopted it before retailers do and retailers won't adopt anything they don't understand. As hard to believe as it is, there are still a lot of people who have never heard of Bitcoin. And people who are not as informed as us enthusiasts still believe it's a scam or something that might break or become illegal. Given time all barriers will be overcome.
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June 27, 2015, 08:44:01 AM
 #171

this isn't the reason, they are not adopting it because bitcoin isn't a valide alternative for them, it does not bring any advantages over fiat, and they do not care about decentralization

and all this because they are ignorant and they do not want to learn about bitcoin, maybe they could find that they could save time and money if they use the blockchain instead of a standard fiat circuit

Corporations such as Ebay and Amazon have a number of deals with payment processors such as Visa / Master / Paypal, giving them an unfair advantage over the smaller players such as Overstock and Alibaba. If they adopt Bitcoin, then there will be no advantage for them, over the other players. So I can understand why they are reluctant on BTC.
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June 27, 2015, 09:52:54 AM
 #172

this isn't the reason, they are not adopting it because bitcoin isn't a valide alternative for them, it does not bring any advantages over fiat, and they do not care about decentralization

and all this because they are ignorant and they do not want to learn about bitcoin, maybe they could find that they could save time and money if they use the blockchain instead of a standard fiat circuit

Corporations such as Ebay and Amazon have a number of deals with payment processors such as Visa / Master / Paypal, giving them an unfair advantage over the smaller players such as Overstock and Alibaba. If they adopt Bitcoin, then there will be no advantage for them, over the other players. So I can understand why they are reluctant on BTC.
BTC is still relatively new currency. People are just become aware of it.Consumer don't take risk of keping their money on bitcoin ,as it has a high risk of loss and they may be can't afford for their loss (if happened asit depend on private key) .

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altcoinUK
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June 27, 2015, 01:09:58 PM
 #173

This Sunday afternoon I made a purchase on ebay. A few minutes later I got an email from ebay stating that the item page had been removed because the seller's account had been accessed by an unauthorized 3rd party. I immediately logged into my paypal account and cancelled the payment.

You might think paypal was able to just cancel the payment without bothering my bank account, but nope. The money was immediately deducted from my available balance but it didn't show up in my paypal account for three days. I then requested paypal to transfer it back to my bank account and that took two more days- a total of five days.

Had that transaction happened with Bitcoin, the money would have come out of my wallet app into a multi-sig escrow address on the blockchain and paypal would have only received one of three private keys which, upon my cancellation, would have immediately returned my bitcoins back to my wallet. This is why Bitcoin will eventually be adopted.

The reason it hasn't been adopted in mass yet is because consumers won't adopted it before retailers do and retailers won't adopt anything they don't understand. As hard to believe as it is, there are still a lot of people who have never heard of Bitcoin. And people who are not as informed as us enthusiasts still believe it's a scam or something that might break or become illegal. Given time all barriers will be overcome.

That's not entirely true. The merchant adoption is actually quite high for Bitcoin payment processing, just last year around 90,000 merchants adopted some form of Bitcoin payment processing.

The issue is, there are only 100,000 active Bitcoin users worldwide, and not only that, but most of them just use Bitcoin as a day trading commodity or investment vehicle. Bitcoin isn't used as a currency. Compared to the total 2,5 billions computer users worldwide unfortunately there are only a handful active users who use BTC to shop and buy stuff.

Why is that? Apart from the complexity from end user viewpoint (which is in my opinion the biggest issue) there is a trust issue as well. We, the foot soldiers of Bitcoin have been doing the ground work for years, for example I have been promoting Bitcoin everywhere I can including Bitcoin meetups, conferences, developer workgroup meetings, etc,, however this work mean nothing when an interested user gets the message and comes to this forum which place epitomizes the very sad state of crypto: 17 years old school boys are the lead developers (such as Vertcoin, and I heard not long time ago for example MoneroX was developed by a fucking 17 years old "developer" and no disrespect to the young men who are interested in software development but that is just ridiculous when such a workforce is behind a coin), there are +600 absolutely useless shitcoins exist and a wanker almost every day release a new BTC/LTC clone shitcoin, and then another few wankers try to scam out a few bucks from the less and less new users. This, the very sad state of the wankers driven altcoin market has a huge negative effect on Bitcoin as well.




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June 27, 2015, 01:24:18 PM
 #174

according to me, these might be some of the reasons for this
trust- they might not trust bitcoin
knowledge - obviously they wont be having any knowledge without using it
they would be thinking it as risk full system too.

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Herbert2020
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June 27, 2015, 01:42:19 PM
 #175

according to me, these might be some of the reasons for this
trust- they might not trust bitcoin
knowledge - obviously they wont be having any knowledge without using it
they would be thinking it as risk full system too.
i agree especially about the risk part, history showed that bitcoin price is volatile while it can go up and make you rich, it can go down too as we can see in the past few months.
i also want to add that accepting bitcoin as a payment is going to be an extra work in some cases and it might not have enough customer to justify the work.

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June 27, 2015, 01:48:02 PM
 #176

Because there is trading problem.
Not everyone are addicted to this.

this isn't the reason, they are not adopting it because bitcoin isn't a valide alternative for them, it does not bring any advantages over fiat, and they do not care about decentralization

exactly they dont care about it, at least for now and even if this bring a lot of advantages to them they still dont care about it, but i think is just a question of time, the more ppl using BTC, the more ppl will care and bring about BTC

and all this because they are ignorant and they do not want to learn about bitcoin, maybe they could find that they could save time and money if they use the blockchain instead of a standard fiat circuit

dont worry man, if im not wrong i stipulate 5-10 years no more, if im not wrong, to see how things change a lot in this planet Wink

things are going faster than expected even if we didnt notice it.
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June 27, 2015, 02:02:39 PM
 #177

according to me, these might be some of the reasons for this
trust- they might not trust bitcoin
knowledge - obviously they wont be having any knowledge without using it
they would be thinking it as risk full system too.
i agree especially about the risk part, history showed that bitcoin price is volatile while it can go up and make you rich, it can go down too as we can see in the past few months.
i also want to add that accepting bitcoin as a payment is going to be an extra work in some cases and it might not have enough customer to justify the work.

accepting bitcoin as merchant isn't extra work. everything gets done for you. if you don't have enough custommers then it doesn't cost you a penny. no extra work.
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June 27, 2015, 02:15:05 PM
 #178

******** PUBLIC SERVICE ANNOUNCEMENT *********
**********************************************

WARNING!

This thread was started by none other than
Sol Adoni AKA "Sollog" AKA Johnathon Patrick Ellis
AKA John Ennis.

For more info on this man:

https://encyclopediadramatica.se/Sollog
http://americanloons.blogspot.com/2013/08/650-john-ennis.html

He abuses the Bitcointalk forum by creating
dozens of sock puppet accounts and attempts
to either outright scam, promote his websites,
schemes, or products, or tries to get more
backlinks to his websites, or simply just troll.

He is not to be taken seriously.  Responding
to his posts will encourage him.  Thus,
the best response is to make a copy of this
PSA warning and post that.

Since Bitcointalk allows limitless creation
of accounts with no email verification,
expect Sollog to keep creating endless accounts.

Some of the sockpuppet accounts created so
far include (but are not limited to): 

Bitcoin_exchange, adoni, banque, Ibitcoinloan,
domainbrokers,ibittunes,247bitcoinnewscom,btcdoms,
elix,Protos1,247bitcoinnews,1playercom,ibitcoincasinoorg,
1anonymous,Addition,247casino,Page1,1amonymous,1bitcoinz

*********END OF PUBLIC SERVICE ANNOUNCEMENT************


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