Barriers to introducing people to bitcoin

[thaohaitrieu9]

precious time as gold
people to keep it offline

[Professor Plums]

I try start with telling them why fiat money is corrupt first and then about how credit cards and payment processors are rip offs. You need to show them the benefits of bitcoin against the negatives of the current system.

[Chef Ramsay]

One of the main problems I have w/ introducing people to BTC is that the pitch can take upwards of 10 minutes to give them all the key ingredients as to the why and how of things, including fiat money/banker/fed debt talk. 2ndly, when we've been in a bear market up until recently for such an extended time, there's been plenty of people who I've discussed this with that even if they were monitoring the price, they'd think I'm a stooge for playing in this game at all. All the average person sees is the value in paper money as they can't comprehend a time when the fednote won't be the bread and butter, despite rising costs. However, in a primed bull market ready to take off, it's a lot easier to entice people to come aboard.

[DhaniBoy]

I do not think it is difficult to introduce to the bitcoin community, the first thing one should be clear is that bitcoin as currency cryptocurrency, where as currency bitcoin cryptocurrency must have internet connection in each transaction, meaning that bitcoin does not have the physical form as well as currency prevailing in each country, while the second should we explain to the public about bitcoin is that bitcoin now has a very high exchange rate against the American dollar, about 4 million per bitcoin, it is the main attraction of bitcoin ... 

[MF Doom]

most people are brainwashed by the media and are under the assumption their only option is the USD/Euro/etc.  The biggest barrier is getting people to think outside the box, and realize there is more than one way to pay/get paid.

[My Name Was Taken]

I think if the value of the currency wasn't so volatile it would be easier. Money is supposed to be a store of value, and right now we have rapid swings (compared to USD fiat). I think something slowing adoption for most people is the risk that if you have a significant amount of value in bitcoin, it could depreciate 25% in a month. The USD has experienced inflation, sure, but it's a stable rock compared to the risk of volatility associated with bitcoin.

On the other hand, bitcoin's rapid appreciation last year was what brought so many people into it, to speculate. But this kind of reinforces my first point. When last year's bubble has deflated through this year, people leave with a bad taste in their mouth. It would have been better if the currency was more stable. Ultimately, people want stability and predictability.

[cryptocoiner]

I usially ask for payment in bitcoins or offer a payment in bitcoins for job/service/goods etc. after that people usually starting using bitcoin in they own.

[koshgel]

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

[My Name Was Taken]

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

[username18333]

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

[My Name Was Taken]

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said. 

[username18333]

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said. 

Roughly, "Merchants generally respond to market demand."

[My Name Was Taken]

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said. 

Roughly, "Merchants generally respond to market demand."

Ah, sure, but not exclusively. They could respond to a lot of different types of incentives. My point was that a cheaper non-cash method to accept payment than what currently exists could draw merchants in, which could help consumer adoption. I had a secondary point that this could cause more downward pressure on orice though, but that's not as germane to the OP now.

[username18333]

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said. 

Roughly, "Merchants generally respond to market demand."

Ah, sure, but not exclusively. They could respond to a lot of different types of incentives. My point was that a cheaper non-cash method to accept payment than what currently exists could draw merchants in, which could help consumer adoption. I had a secondary point that this could cause more downward pressure on orice though, but that's not as germane to the OP now.

"Educating" consumers is notoriously expensive.

[My Name Was Taken]

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said. 

Roughly, "Merchants generally respond to market demand."

Ah, sure, but not exclusively. They could respond to a lot of different types of incentives. My point was that a cheaper non-cash method to accept payment than what currently exists could draw merchants in, which could help consumer adoption. I had a secondary point that this could cause more downward pressure on orice though, but that's not as germane to the OP now.

"Educating" consumers is notoriously expensive.

I think for most, but take Overstock for example. They implemented bitcoin as a payment option. It's not costing them anything to do so, in fact saving them money. Where people use it. Anyone who orders there see it as an option and it cheaply spreads the message. Dell computers has the same thing. I think that's the best to hope for right now. You can't change ingrained consumer habits quickly. I don't know what else could be done to cheaply to spread the word.

[username18333]

Other than people looking to trade Bitcoin for profit due to the volatile nature, I haven't had much success in having people adopt Bitcoin as a payment source. There are already safer and easier methods available so people don't see a reason for it YET.

The benefits are far greater for merchants. They pay a couple percentage points on each transaction to accept credit cards, they could accept btc instead and offer a discount for consumers to pay in bitcoin, and still come out ahead compared to credit cards. This sounds like a good thing, more merchants drive more people to use bitcoin. The problem though is no merchant accepts bitcoin and holds it. They can't risk the volatility eating their profit margin and turning sales into losses. So they immediately convert to fiat, because it's stable. This puts a lot of downward pressure on the price of bitcoin. So you think wider merchant acceptance helps the price, but I think it's having the opposite effect.

Merchants cater to markets, not ideals. (Remember, "The customer is always right.")

Can you elaborate? I don't follow in response to what I said. 

Roughly, "Merchants generally respond to market demand."

Ah, sure, but not exclusively. They could respond to a lot of different types of incentives. My point was that a cheaper non-cash method to accept payment than what currently exists could draw merchants in, which could help consumer adoption. I had a secondary point that this could cause more downward pressure on orice though, but that's not as germane to the OP now.

"Educating" consumers is notoriously expensive.

I think for most, but take Overstock for example. They implemented bitcoin as a payment option. It's not costing them anything to do so, in fact saving them money. Where people use it. Anyone who orders there see it as an option and it cheaply spreads the message. Dell computers has the same thing. I think that's the best to hope for right now. You can't change ingrained consumer habits quickly. I don't know what else could be done to cheaply to spread the word.

Present these men more than mere word.

[Elwar]

I told my family about it but that is about it.

The people who can use it and understand why it is good will find it. People who are sheep will be late to the game. Those that are against it will be on the streets begging for bitcoins down the road.

I would rather people who actually understand it be the ones using it. They will help it to grow and reap the benefits. If you have to convince someone...let them be late to the game and find out later because eventually they will use it.

[username18333]

I told my family about it but that is about it.

The people who can use it and understand why it is good will find it. People who are sheep will be late to the game. Those that are against it will be on the streets begging for bitcoins down the road.

I would rather people who actually understand it be the ones using it. They will help it to grow and reap the benefits. If you have to convince someone...let them be late to the game and find out later because eventually they will use it.

Why would one comply with this transfer of power away from himself‽

[Elwar]

I told my family about it but that is about it.

The people who can use it and understand why it is good will find it. People who are sheep will be late to the game. Those that are against it will be on the streets begging for bitcoins down the road.

I would rather people who actually understand it be the ones using it. They will help it to grow and reap the benefits. If you have to convince someone...let them be late to the game and find out later because eventually they will use it.

Why would one comply with this transfer of power away from himself‽

Happens every day for most people. Taxes, inflation, more regulations. People transfer money away from themselves daily without a thought.

With Bitcoin it is about people holding onto power they used to so easily give away.

[username18333]

I told my family about it but that is about it.

The people who can use it and understand why it is good will find it. People who are sheep will be late to the game. Those that are against it will be on the streets begging for bitcoins down the road.

I would rather people who actually understand it be the ones using it. They will help it to grow and reap the benefits. If you have to convince someone...let them be late to the game and find out later because eventually they will use it.

Why would one comply with this transfer of power away from himself‽

Happens every day for most people. Taxes, inflation, more regulations. People transfer money away from themselves daily without a thought.

With Bitcoin it is about people holding onto power they used to so easily give away.

So others may, more conspicuously, advance their economic standing among men?