TIME
ACTUAL USE TOO COMPLICATED
FEAR OF LOSING MONEY, ESPECIALLY CHANCE OF EVERYTHING GONE IN ONE CLICK
It takes too long to do a transaction. people get impatient when the card reader takes more than 10-20 seconds, do you really expect them to wait 10 minutes to buy a candy bar.
Also the complexity of using it. I am below average with computers (but 50% of us are) so if it is too complicated for average users obviously it can't be number one.
Fear of losing one's money is probably the number one reason people won't accept it. Due to it's complexity.
WHILE IT WOULD BE NICE TO HAVE THE QUESTIONS BELOW ANSWERED OR AT LEAST DIRECTED TO WHERE I CAN ASK THEM
i REALLY AM JUST TRYING TO EXPLAIN WHAT I MEAN BY THE COMPLEXITY AND CONFUSION
I don't mean fear as an investment, I mean simply losing the numbers or sending them the wrong place or losing the "wallet" or hacking.
Complexity in using I don't mean the complex blockchain of how it works, but just the simple mechanics of how to use it are complex.
I compare to using a credit card with chip reader. The chip technology is obviously complex, but average people can understand the simple mechanics of inserting the card without understanding "how" it actually works.
Can I use bitcoin with out understanding "how" it works? I would think so, but it is not as easy as inserting a card.
I managed to buy bitcoin on coinbase and make a transfer to bittrex following step by step (x about 30 steps) intSructions on youtube.
Now I think I am supposed to have a wallet (or maybe not I read some places) but why does coinbase have "wallet" in the name?
I think I am supposed to have a private address and a public address but which numbers are they?
Then there are places to put just "address" --which one? or is this a 3rd address consisting of a combination of the other 2?
I think I am supposed to have a private key. Is that one of the numbers? That is what I read on google.
They gave me 12 word code. Is that my "secret" key? Hardly a secret since I had to rearrange the words in order to send the bitcoin to bittrex so obviously coinbase has it.
I am below average on crpto but probably in top percentage of average actual research of the actual mechanics of this. Most people do not spend literally hours a day for 3 weeks as I have and this is where I'm at.
So now I am scared to do anything because if I put the wrong numbers somewhere I am cautioned that my money will be lost.
This is the fear of losing money that 99.9% of people have