Bitcoin's biggest challenge isn't buying it.
It's finding places where it can move without returning to fiat.
What do you think, it's Bitcoin's biggest challenge?
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Bitcoin's biggest challenge isn't buying it.
It's finding places where it can move without returning to fiat.
What do you think, it's Bitcoin's biggest challenge?
Bitcoin doesn't ever return to fiat. A recipient of bitcoin may exchange it for fiat but that bitcoin just moves along to someone who exchanged fiat for it.
The biggest challenge is probably just inertia. It's not a part of people's regular lives and very few will go out of their way to add something new to their routines.
My point is, when you pay a merchant in Bitcoin, for example, they receive Bitcoin, without it being converted to fiat, unlike how some tools work.
These merchants need to have their liabilities in Bitcoin first. One of the biggest issues I ran into with a project of my friend that I'm helping out with, is finding a local supplier of raw materials (other than tech stuff) that accepts Bitcoin, because you'll have to orange pill them too. Unless you're a significant customer of theirs, they're unlikely to do this, so this is hard for startups.
I agree with you that we can improve on that but I don't think it's our biggest challenge at the moment.
Of course, if you see opportunities to get people to make the switch, that's a great service.
People believing in themselves hearing all these maxis say how gior it is sounds too good to be true they have to give it a chance
Adoption. It's incredibly niche. Very few people want to pay with it. Even fewer want to accept it as merchants.
To Ride a Chopper ;) or at least not yet :P
value appreciation, i.e., living up to its idea of improving on fiat. (It's not, and hasn't done so in many many years)