Any ideas of what we lack in crypto world?

isaac_clarke22

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Quote from: DeathProxy on November 20, 2019, 03:37:52 AM

I think what we lacked the most in the crypto space is developing a technology that can be easily understood and related by a non-tech savvy individual. Crypto lacks project that provides real life solution and this is a great issue. Most crypto project are based on just mere whitepaper theories without the backings of a real usecase and workable product. Crypto also lacks regulations, and i think its high time we get this now since the number of scam project are on the increase. If crypto can get this right then we can thrive towards

Rural areas tend to have the most non-tech savvy individual due to their traditional means of not only using money but also their way of their daily lives.
I think that just a simple seminar or program for those areas could help them understand a bit more about technologies. No need to learn too much technicalities, since it is gonna be like learning how does each CPU part work before using a PC. Just providing an app or any software would help them catch up on the modernization of the way of lives these days.

drachman

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Quote from: drachman on November 15, 2019, 07:45:35 PM

Quote from: airdnasxela on November 04, 2019, 07:52:09 AM

What we are really lacking here is acceptance. If the government will accept cryptocurrency, they will make a move in order to fulfill what's other lacking like knowledge. If only the government will support crypto, they can include it in the curriculum so that students and millennials can learn and adopt cryptocurrency. If more people discover crypto, merchants will adopt to it. Making it an option for payments and such.
The only problem would be, non techy people and rural places. Well, it's not actually a problem since they can still choose not to adopt on it if they are not capable.

That is not really an option, governments are never going to adopt decentralized cryptocurrencies completely because it goes against their goals, and even more importantly it is never going to be included in the curriculum of schools so young people can learn about it, that is just a dream, if we want the market of cryptocurrencies to become more popular then we need to accept the fact that people will have to discover this market by themselves.

Government could still adapt the decentralized cryptocurrencies because they can implement regulation to the different cryptocurrencies that are decentralized so they can have some control out of it and they can make sure that there will be no misuse of cryptocurrency. Some of the government in different countries already have a law for cryptocurrencies.

Governments without a doubt will adapt to the different circumstances in the case decentralized cryptocurrencies become really popular, but they are only going to accept this if they are forced by cryptocurrencies otherwise they will try to keep operating as usual, so if we want a government that is not obsessed with trying to monitor everything we do then we need the popularity of cryptocurrencies to reach new levels and that is only possible if people realize the huge advantages that cryptocurrencies offer.

Webetcoins

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Quote from: X-ray on November 19, 2019, 10:10:48 AM

Quote from: Faxmate on November 18, 2019, 02:29:18 PM

Governments need to grasp the concept of crypto currencies well before regulating them. Moreover, bitcoin cannot be regulated or you can put it the other way around, investors do not want that at all. Transactions of decentralized coin are almost impossible to track. But if governments plan to introduce its very own digital currency for people of their country, they can do whatever they like to with it.

Well that's where you are wrong, a decentralized transaction could easily be traced back because all the transaction are recorded in the blockchain it's not anonymous once you know who have that address even you can trace them far back. however I agree that government need to have the grasp of crypto and blockchain aswell because as I see those people usually just release a regulation based on their thinking which usually lacking in term of technology. Should have some people with IT background to advice the regulation.

Blockchain means having a chain of blocks that are ciphered. But if this chain is a long one and transactions made by one person utilizes different nodes every time and all the process is basically using cryptography, what computers on earth can decipher them and trace out the starting point. The system is a way too complex. A simple deciphering demands a lot of computing power. This is blockchain we are talking about. So bitcoin is impossible to trace one way or the other.

DeathProxy

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I think what we lacked the most in the crypto space is developing a technology that can be easily understood and related by a non-tech savvy individual. Crypto lacks project that provides real life solution and this is a great issue. Most crypto project are based on just mere whitepaper theories without the backings of a real usecase and workable product. Crypto also lacks regulations, and i think its high time we get this now since the number of scam project are on the increase. If crypto can get this right then we can thrive towards

sapnu

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Quote from: Blackdeath on November 19, 2019, 12:00:40 PM

In my own point of view, the crypto world is already perfect to me, the only thing that i only hate is scammers, that is why i think the things that we lack in cryptocurrency is a group of people who finds and arrest those scammers to avoid huge risk in investing in new projects here in the crypto world.

I think in the crypto world we lack some people who actually bans or the ones who can actually limit the scammers because there are actually lots of scammers in our sector just look how many people who were being scammed day by day because of them. That is also one reason why other investors are limiting to invest in some projects because they are afraid of losing money because of these kind of people. I prefer if we actually have at least one team every sector that makes our sector better by doing votes if we want to rule. Just suggesting but I think it is impossible since the crypto world is decentralized.

Blackdeath

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In my own point of view, the crypto world is already perfect to me, the only thing that i only hate is scammers, that is why i think the things that we lack in cryptocurrency is a group of people who finds and arrest those scammers to avoid huge risk in investing in new projects here in the crypto world.

electronicash

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Quote from: X-ray on November 19, 2019, 10:10:48 AM

Quote from: Faxmate on November 18, 2019, 02:29:18 PM

Governments need to grasp the concept of crypto currencies well before regulating them. Moreover, bitcoin cannot be regulated or you can put it the other way around, investors do not want that at all. Transactions of decentralized coin are almost impossible to track. But if governments plan to introduce its very own digital currency for people of their country, they can do whatever they like to with it.

Well that's where you are wrong, a decentralized transaction could easily be traced back because all the transaction are recorded in the blockchain it's not anonymous once you know who have that address even you can trace them far back. however I agree that government need to have the grasp of crypto and blockchain aswell because as I see those people usually just release a regulation based on their thinking which usually lacking in term of technology. Should have some people with IT background to advice the regulation.

government are slowly adopting blockchain, they can't do it over night though so a milestone after milestone i think there will come a time we get there.

what we really lack in crypto is the merchants willing to accept BTC. you can't just find them in places where you regularly go. right now you have to go to your bank to encash your BTC but if there are stores already accepting everywhere, you might not need to travel to withdraw on ATMs to cashout and then spend. we can just directly pay BTC to a store.

GideonGono

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Quote from: Faxmate on November 18, 2019, 02:29:18 PM

Quote from: n0ne on November 16, 2019, 10:19:38 AM

Quote from: ?? on ??

Quote from: drachman on November 15, 2019, 07:45:35 PM

Quote from: airdnasxela on November 04, 2019, 07:52:09 AM

What we are really lacking here is acceptance. If the government will accept cryptocurrency, they will make a move in order to fulfill what's other lacking like knowledge. If only the government will support crypto, they can include it in the curriculum so that students and millennials can learn and adopt cryptocurrency. If more people discover crypto, merchants will adopt to it. Making it an option for payments and such.
The only problem would be, non techy people and rural places. Well, it's not actually a problem since they can still choose not to adopt on it if they are not capable.

That is not really an option, governments are never going to adopt decentralized cryptocurrencies completely because it goes against their goals, and even more importantly it is never going to be included in the curriculum of schools so young people can learn about it, that is just a dream, if we want the market of cryptocurrencies to become more popular then we need to accept the fact that people will have to discover this market by themselves.

Government could still adapt the decentralized cryptocurrencies because they can implement regulation to the different cryptocurrencies that are decentralized so they can have some control out of it and they can make sure that there will be no misuse of cryptocurrency. Some of the government in different countries already have a law for cryptocurrencies.

Very few countries have regulated the use of cryptocurrencies. Even those regulations weren't that perfect and flawless. These laws weren't that effective to track the record of transactions in the form of cryptocurrencies and file tax. If I'm not wrong Israel has added it along with Gold. With cryptocurrency there isn't anything lacking, it is in the early days of growth and can expect things to be perfect over the years.

Governments need to grasp the concept of crypto currencies well before regulating them. Moreover, bitcoin cannot be regulated or you can put it the other way around, investors do not want that at all. Transactions of decentralized coin are almost impossible to track. But if governments plan to introduce its very own digital currency for people of their country, they can do whatever they like to with it.

Based on what I heard, China had spent out the last six years researching about blockchain technology and the cryptocurrencies and here there are circulating news about releasing their own cryptocurrency backed by their central bank and also by the gold as what a fiat had been which in the past are dependent on a country’s silver and gold reserve. Also, there are stories going on that United States is considering to do the same and invested money on research. Since it would talk about a huge national project that would allot time and effort along with the money that the people had paid through their taxes, they need to be sure that it would have its real uses and the people would utilize it or else it would be just a waste of resources.

X-ray

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Quote from: Faxmate on November 18, 2019, 02:29:18 PM

Governments need to grasp the concept of crypto currencies well before regulating them. Moreover, bitcoin cannot be regulated or you can put it the other way around, investors do not want that at all. Transactions of decentralized coin are almost impossible to track. But if governments plan to introduce its very own digital currency for people of their country, they can do whatever they like to with it.

Well that's where you are wrong, a decentralized transaction could easily be traced back because all the transaction are recorded in the blockchain it's not anonymous once you know who have that address even you can trace them far back. however I agree that government need to have the grasp of crypto and blockchain aswell because as I see those people usually just release a regulation based on their thinking which usually lacking in term of technology. Should have some people with IT background to advice the regulation.

bettercrypto

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Quote from: Future3000 on February 16, 2018, 05:25:19 AM

We see that all the time in some countries cryptocurrencies are banned or in the contrary they start to make a special regulation. It shows that everyone want to do something with it but don't really know what, yet. Maybe you guys can guess, as experts from the crypto community, what do we need for normal living in a blockchain world?

There are many countries are adapting cryptocurrency because of the projects. The world wants to make the world comfortable and easy through the use of blockchain technology and cryptocurrency.
However, there are still ideas we still lack in crypto world. Just like the full transparency. Eventhough there is the help of blockchain, we cannot deny that frauds are still the problem in this industry.

Webetcoins

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Quote from: dewin on November 18, 2019, 10:23:33 AM

Quote from: jseverson on February 16, 2018, 12:31:18 PM

I'm going to go on a more philosophical route and say: ideals.

Most people who get into crypto these days want and expect to make money off them. I suppose there's nothing inherently wrong with that, but that's where all the speculation and emphasis on price comes from, which in turn give birth to the ponzi comparisons. It also attracts people which are the first to dump, first to lose money, and first to call out cryptos as scams whenever it slides.

I'm assuming crypto will be much better off once people stop looking at them as earning opportunities.

That is right, now most people see in cryptocurrencies way to become rich fast and simply. They think it is all about spend some money on some exchange by buying some coins and then wait for a huge income, not paying attention or analyzing any market rule or situation.

That is the simplest form of investors. Invest in bitcoin and then hold it for long without looking at the changing value on daily basis. Bitcoin can definitely do that. It can bring huge profits with time. However, during the time of holding, the investor wont be able to earn any money and that is why he should trade assets. Now trading demands some knowledge. Same goal can be achieved using few altcoins.

Faxmate

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Quote from: n0ne on November 16, 2019, 10:19:38 AM

Quote from: ?? on ??

Quote from: drachman on November 15, 2019, 07:45:35 PM

Quote from: airdnasxela on November 04, 2019, 07:52:09 AM

What we are really lacking here is acceptance. If the government will accept cryptocurrency, they will make a move in order to fulfill what's other lacking like knowledge. If only the government will support crypto, they can include it in the curriculum so that students and millennials can learn and adopt cryptocurrency. If more people discover crypto, merchants will adopt to it. Making it an option for payments and such.
The only problem would be, non techy people and rural places. Well, it's not actually a problem since they can still choose not to adopt on it if they are not capable.

That is not really an option, governments are never going to adopt decentralized cryptocurrencies completely because it goes against their goals, and even more importantly it is never going to be included in the curriculum of schools so young people can learn about it, that is just a dream, if we want the market of cryptocurrencies to become more popular then we need to accept the fact that people will have to discover this market by themselves.

Government could still adapt the decentralized cryptocurrencies because they can implement regulation to the different cryptocurrencies that are decentralized so they can have some control out of it and they can make sure that there will be no misuse of cryptocurrency. Some of the government in different countries already have a law for cryptocurrencies.

Very few countries have regulated the use of cryptocurrencies. Even those regulations weren't that perfect and flawless. These laws weren't that effective to track the record of transactions in the form of cryptocurrencies and file tax. If I'm not wrong Israel has added it along with Gold. With cryptocurrency there isn't anything lacking, it is in the early days of growth and can expect things to be perfect over the years.

Governments need to grasp the concept of crypto currencies well before regulating them. Moreover, bitcoin cannot be regulated or you can put it the other way around, investors do not want that at all. Transactions of decentralized coin are almost impossible to track. But if governments plan to introduce its very own digital currency for people of their country, they can do whatever they like to with it.

dewin

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Quote from: jseverson on February 16, 2018, 12:31:18 PM

I'm going to go on a more philosophical route and say: ideals.

Most people who get into crypto these days want and expect to make money off them. I suppose there's nothing inherently wrong with that, but that's where all the speculation and emphasis on price comes from, which in turn give birth to the ponzi comparisons. It also attracts people which are the first to dump, first to lose money, and first to call out cryptos as scams whenever it slides.

I'm assuming crypto will be much better off once people stop looking at them as earning opportunities.

That is right, now most people see in cryptocurrencies way to become rich fast and simply. They think it is all about spend some money on some exchange by buying some coins and then wait for a huge income, not paying attention or analyzing any market rule or situation.

AicecreaME

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Quote from: Yatsan on November 16, 2019, 10:04:12 AM

Instant transactions and no fees at all. Those two are prominent features that need to be implemented to bitcoin. Bitcoin(crypto) is not applicable for a canned transaction because it takes too much of your time, and the fee will be too large for a micro-transaction. For me, those are the 2 features that need to be upgraded.

Quote from: huige007 on November 15, 2019, 05:42:04 AM

Quote from: Cynthia Adoma on November 14, 2019, 08:37:45 AM

Majorly what is lacking is mass adoption. We still have countries setting up regulations against cryptocurrency, Some persons are still skeptical about the genuineness of crypto. While some sectors like Financial sectors, Oil and gas, Agricultural sectors etc are beginning to adopt the use of blockchain in their services. Others are still skeptical. I sited mass adoption because until we can easily exchange Bitcoin or other altcoins for goods and services, only then will other things fall into place.

Mass adoption plays very important role in the success of digital currencies. The major reason behind this is not that people find it difficult to believe in crypto coins but that most of the people are still unaware of their existence. Obviously, we cannot explore what we have not even heard about. Anyway, things are getting better as digital assets are gaining fame gradually. It wont take long before bitcoin and altcoins will serve the purpose of currency.

Crypto is too advance for mass adoption, Imagine not all of us are technology literate. And not all of us have devices and money to avail the internet data for daily use. Those basic needs to use crypto are what stopping an average person from using it in their daily lives. The price is too unstable to serve it as a "normal" currency. Personally, I consider it a form of investment like stocks in the stock market. But who knows what if, in the future. Someone is going to create a coin that will satisfy all of the features that we are looking for. But for now, I think that will not be the bitcoin or any other altcoins.

This is not true, are you even aware that we are all in the same technology world? Yes, there are some countries that lacks about how technology works but the majority of the world do knows about it. It is not about the lack in financial, or doesn't have any gadgets to use bitcoin in daily basis, it is us who lacks about the information that cryptocurrency exist and it is not a scam.

The society will never be able to adopt bitcoin as a currency if their brain and mindset about it pure negativity, we can't do about that, it is all on them.

n0ne

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Quote from: ?? on ??

Quote from: drachman on November 15, 2019, 07:45:35 PM

Quote from: airdnasxela on November 04, 2019, 07:52:09 AM

What we are really lacking here is acceptance. If the government will accept cryptocurrency, they will make a move in order to fulfill what's other lacking like knowledge. If only the government will support crypto, they can include it in the curriculum so that students and millennials can learn and adopt cryptocurrency. If more people discover crypto, merchants will adopt to it. Making it an option for payments and such.
The only problem would be, non techy people and rural places. Well, it's not actually a problem since they can still choose not to adopt on it if they are not capable.

That is not really an option, governments are never going to adopt decentralized cryptocurrencies completely because it goes against their goals, and even more importantly it is never going to be included in the curriculum of schools so young people can learn about it, that is just a dream, if we want the market of cryptocurrencies to become more popular then we need to accept the fact that people will have to discover this market by themselves.

Government could still adapt the decentralized cryptocurrencies because they can implement regulation to the different cryptocurrencies that are decentralized so they can have some control out of it and they can make sure that there will be no misuse of cryptocurrency. Some of the government in different countries already have a law for cryptocurrencies.

Very few countries have regulated the use of cryptocurrencies. Even those regulations weren't that perfect and flawless. These laws weren't that effective to track the record of transactions in the form of cryptocurrencies and file tax. If I'm not wrong Israel has added it along with Gold. With cryptocurrency there isn't anything lacking, it is in the early days of growth and can expect things to be perfect over the years.

Mometaskers

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Quote from: Bohxz M4p4gm4h4l25 on November 15, 2019, 05:49:39 AM

Quote from: Mometaskers on November 15, 2019, 02:10:41 AM

I would say a safer platform for lending money. I know people already lend and borrow btc but I'm hoping for something that spreads the risk of defaults.

Of course this is what banks practically do, for btc holders though there's very little reason to have an entity handle all their money since they can do it themselves.

We can already use this forum to lend from another user vice versa but the wallet needs to be verified first however the problem is its limitation. Since in crypto, you can't trace a person's location nor his identity unless he give it to you or you trace him via the platform you use to communicate. In overall, it's still too risky because a user can run away with the money he borrows from a lender.

I don't think people who only had experience with banks would be comfortable lending out their money this way. Maybe it can be a similar setup to current lending apps, which don't require face to face transactions and yet still manages to loan out fiat.

For a similar crypto platform the loans will be given out in crypto and people have the option of "lending" to the company aside from borrowing. You deposit a certain amount and the company gives it back to you after a certain amount of time. Since you are not lending to an individual, you are more likely to get your money paid back since it was pooled with all other deposits. Basically what we do in the bank anyway but the money moves faster since we are not planning on storing money in the platform.

Yatsan

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Instant transactions and no fees at all. Those two are prominent features that need to be implemented to bitcoin. Bitcoin(crypto) is not applicable for a canned transaction because it takes too much of your time, and the fee will be too large for a micro-transaction. For me, those are the 2 features that need to be upgraded.

Quote from: huige007 on November 15, 2019, 05:42:04 AM

Quote from: Cynthia Adoma on November 14, 2019, 08:37:45 AM

Majorly what is lacking is mass adoption. We still have countries setting up regulations against cryptocurrency, Some persons are still skeptical about the genuineness of crypto. While some sectors like Financial sectors, Oil and gas, Agricultural sectors etc are beginning to adopt the use of blockchain in their services. Others are still skeptical. I sited mass adoption because until we can easily exchange Bitcoin or other altcoins for goods and services, only then will other things fall into place.

Mass adoption plays very important role in the success of digital currencies. The major reason behind this is not that people find it difficult to believe in crypto coins but that most of the people are still unaware of their existence. Obviously, we cannot explore what we have not even heard about. Anyway, things are getting better as digital assets are gaining fame gradually. It wont take long before bitcoin and altcoins will serve the purpose of currency.

Crypto is too advance for mass adoption, Imagine not all of us are technology literate. And not all of us have devices and money to avail the internet data for daily use. Those basic needs to use crypto are what stopping an average person from using it in their daily lives. The price is too unstable to serve it as a "normal" currency. Personally, I consider it a form of investment like stocks in the stock market. But who knows what if, in the future. Someone is going to create a coin that will satisfy all of the features that we are looking for. But for now, I think that will not be the bitcoin or any other altcoins.

drachman

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Quote from: airdnasxela on November 04, 2019, 07:52:09 AM

What we are really lacking here is acceptance. If the government will accept cryptocurrency, they will make a move in order to fulfill what's other lacking like knowledge. If only the government will support crypto, they can include it in the curriculum so that students and millennials can learn and adopt cryptocurrency. If more people discover crypto, merchants will adopt to it. Making it an option for payments and such.
The only problem would be, non techy people and rural places. Well, it's not actually a problem since they can still choose not to adopt on it if they are not capable.

That is not really an option, governments are never going to adopt decentralized cryptocurrencies completely because it goes against their goals, and even more importantly it is never going to be included in the curriculum of schools so young people can learn about it, that is just a dream, if we want the market of cryptocurrencies to become more popular then we need to accept the fact that people will have to discover this market by themselves.

Bohxz M4p4gm4h4l25

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Quote from: Mometaskers on November 15, 2019, 02:10:41 AM

I would say a safer platform for lending money. I know people already lend and borrow btc but I'm hoping for something that spreads the risk of defaults.

Of course this is what banks practically do, for btc holders though there's very little reason to have an entity handle all their money since they can do it themselves.

We can already use this forum to lend from another user vice versa but the wallet needs to be verified first however the problem is its limitation. Since in crypto, you can't trace a person's location nor his identity unless he give it to you or you trace him via the platform you use to communicate. In overall, it's still too risky because a user can run away with the money he borrows from a lender.

huige007

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Quote from: Cynthia Adoma on November 14, 2019, 08:37:45 AM

Majorly what is lacking is mass adoption. We still have countries setting up regulations against cryptocurrency, Some persons are still skeptical about the genuineness of crypto. While some sectors like Financial sectors, Oil and gas, Agricultural sectors etc are beginning to adopt the use of blockchain in their services. Others are still skeptical. I sited mass adoption because until we can easily exchange Bitcoin or other altcoins for goods and services, only then will other things fall into place.

Mass adoption plays very important role in the success of digital currencies. The major reason behind this is not that people find it difficult to believe in crypto coins but that most of the people are still unaware of their existence. Obviously, we cannot explore what we have not even heard about. Anyway, things are getting better as digital assets are gaining fame gradually. It wont take long before bitcoin and altcoins will serve the purpose of currency.

Topic: Any ideas of what we lack in crypto world? (Read 3274 times)