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General Bitcoin adoption, I think we're missing a big piece of the puzzle...

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  • cmason

    @ningchang ... Sure, but i'm looking at this through the eyes of someone whos never bought bitcoin. i've mentored alot of folk through purchasing at localbitcoins and people are generally terrified that they're gonna get scammed, it's a big gulf of uptake, if the company you worked for who are trusted, offered you a easy, no nonsense way to get paid in bitcoin where you didn't have to run around to ATMs or deal with mysterious characters on localbitcoins and generally learn a new way of getting money would you do it? I would. better than faffing around with the other options, especially if i were someone who wasn't particularly knowledgeable about how bitcoin works.

    Completely agree, no one wants to do shady deals in a dark alley to buy Bitcoin. I think it would be great for companies to offer employees a way to get paid, partially, in Bitcoin, just like RRSP contributions. However, many people might prefer that their personal financial dealings are not connected in any way to their employer. I agree that this would be a great option for people, but I don't think it replaces the need for other more anonymous, secure and easy ways to buy Bitcoin.

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  • Mutatu

    This could be caused by a form of Gresham's law. "Bad money drives out good money"

    Why use a form of money which one believes will gain in value when one can get rid of money that one knows is being deliberately devalued?

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  • ning_chang

    @cmason

    @ningchang ... Sure, but i'm looking at this through the eyes of someone whos never bought bitcoin. i've mentored alot of folk through purchasing at localbitcoins and people are generally terrified that they're gonna get scammed, it's a big gulf of uptake, if the company you worked for who are trusted, offered you a easy, no nonsense way to get paid in bitcoin where you didn't have to run around to ATMs or deal with mysterious characters on localbitcoins and generally learn a new way of getting money would you do it? I would. better than faffing around with the other options, especially if i were someone who wasn't particularly knowledgeable about how bitcoin works.

    Completely agree, no one wants to do shady deals in a dark alley to buy Bitcoin. I think it would be great for companies to offer employees a way to get paid, partially, in Bitcoin, just like RRSP contributions. However, many people might prefer that their personal financial dealings are not connected in any way to their employer. I agree that this would be a great option for people, but I don't think it replaces the need for other more anonymous, secure and easy ways to buy Bitcoin.

    Fair enough :)

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  • William

    The reason I don't spend my bitcoin is because I still don't have a way or a place to do it conveniently in the places I normally shop.

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  • CrimsonRoze

    I personally spend about half of all the bitcoins I get, and when I run out I just go and buy some more. Never again will I enter those pesky credit card numbers unless I really have to!

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  • PTheD

    @william The reason I don't spend my bitcoin is because I still don't have a way or a place to do it conveniently in the places I normally shop.

    This is the position I am in as well.

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  • belltown

    @mutatu This could be caused by a form of Gresham's law. "Bad money drives out good money"

    Why use a form of money which one believes will gain in value when one can get rid of money that one knows is being deliberately devalued?

    Because of volatility :(

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  • Chris Barnes

    This tread points to the fact that we are still in the days of early adoption. Generally difficult to acquire, hold, and spend BTC (though the holding challenges weren't mentioned).

    So if we can agree that point is valid (at least partially), then I think its fair to say we as a community and BTC as a whole is doing pretty damn well!

    I work for a major company (+ 300K employees world wide) and the likelihood of me being able to convince my HR to pay me in BTC is an impossibility to say the least. For smaller companies I could see it, especially if they could be convinced to accept BTC as payment for their goods/services. But the really big boys (who are naturally, very tied to the legacy banking system) are a long way from this paradigm of BTC acceptance and inclusion.

    If we can, as early adapters, continue to support the network, then we shall as a whole, continue to grow. Yes this means we need to try to break the inclination to hoard and try to spend a little of our BTC. Which might be a pain in the bum if acquiring more BTC isn't simple, but its worth it in the grand scheme of things to help the community in general grow.

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