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Originally Posted by Barry-xlovecam
Our website accepts Bitcoin and our customers do not pay in Bitcoin -- based on thousands of transactions a month. Bitcoin has no future in the consumer market -- it's too complicated and confusing for consumers.
Bitcoin is just another dead or little used alternative payment method. Go see how many "peasants" you can get to sign-on to currency they don't understand ... How many shopkeepers in the small villages and even merchants in larger cities you can get to sign-on to accept Bitcoin. There is no real interest on this level and why should there be? You would have better luck selling a bag of stones.
Micro-banking and methods like Apple pay have a lot more mainstream support and a future in the developing world. Bitcoin is a dead end for consumer adoption. Bitcoin is on the down side of the bell curve, now stabilized by some big money players on Wall Street for speculation. I cannot declare Bitcoin on a death watch only for that reason.
KISS (Keep it simple stupid).
That answer your question?
Your fuzzy math is boring. How many of my customers have Bitcoin to spend? None or damn few. The only market is in alt coin miner's minds like the Gold Rush of 1849 (and others) the miners want to get rich -- the egalitarian speech is a joke and very transparent.
@darksole -- I am open to new ideas in transactions currencies -- without all of the Bitcoin and alt coin "drama'. "tgps, mgps, tubes, " have seen wide consumer adoptions (and defections to the newest trend) but they were simple for consumers to use. Cash money or credit/debit cards are easy to understand and use for consumers. More importantly, the benefits were immediate and obvious. Money (transaction currencies) are not flash-in-the-pan consumer marketing.
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If you read what i said a bit better you might not try to make any of these points..
As mentioned in that African nation whichever one it was, 40% of the total economy is running of those phone credits. All someone needs to do, is built an app that can run on old phones and just text message bitcoin credits to each other. Or titscoins, cannabis coins, dogecoin or whatever they want. A simple text message to transfer funds.
Impossible with todays banking system.
What about game credits? I know some kids who pay 10$ for a map in a video game. Now their are crypto currencies built into games, an in world economy. Are you telling me people are NOT going to buy those, to upgrade weapons and maps?
Please bet me a large sum of money that no one will buy those up.
Once it becomes simplier for users, and more people keep adopting it the technology and platform will only grow.
When you keep mentioning bitcoin specifically.. what do you think about all the other software built on top? The 500 altcoins, the trading exchanges, games, gambling, shops? Are they all going to close down? Have you used any of these before?
Its certainly possible bitcoin won't be the dominant coin in the future, but crypto currencies and this technology underneath it is here to stay.
One more thing.. i just setup a small website selling porn clips, like clips4sale.com only using crypto currency. I am charging 7-15 cents per video. Now i can sell videos to people in India, China, Russia. No charge backs, no fees, instantly sent to my computer where it pops up with a window and says i have been paid.
No other system can do that, not even close.