Topic: Beware!! Bitcoin can be the future but a lot of work is to be done (Read 18842 times)
October 18, 2019, 09:38:44 PM
Bitcoin had come so far and it's only been almost a decade since it had been created and yet it had reqched an incredible milestone changing the way we transact and develop services and product through cryptocurrency and blockchain technology. We are not yet in a point where crypto is globally accepted, of course there is a lot of things to be done and it takes a lot of work and effort, bitcoin and the crypto as a whole still has a lot of room for improvement and development, people are endlessly thinking of ideas and innovations to make it better as time emerges.
October 18, 2019, 09:19:35 PM
Looking at the way the bitcoin market is going, it will be quite impossible to conclude that Bitcoin will be the future of currency. Bitcoin will only be an investment entity rather than currency. About 90% of people who have Bitcoins are either holding them or trading them to make more bitcoins. In as nuch that Bitcoin significantly represent the future of money, people refer to investment in it rather than using it for financial exchanges and transactions.
October 18, 2019, 07:52:53 PM
Bitcoin, as well as many other altcoins, still need to mature more and a lot more development should be implemented to them in order to qualify for being a currency later in the future. Everything in the cryptocurrency world still has flaws and most of that are major flaws that may cause a major issue for the people to go against crypto and don't adopt it.
October 18, 2019, 03:56:12 PM
Bitcoin has achieved so much praise in such a short period of time but its potential dictates to elevate even higher. A lot of work needs to be done to make it mainstream.
Yes, a lot of work!
Like restoring on-chain scaling and fixing the proof of work bug. Without these changes, the currency is simply not sustainable.
October 18, 2019, 02:30:28 PM
snip---
PS. Cryptocurrency is no joking ground and it is still developing when you are in it either you gain or you lose. It is very important to know how to navigate it personal security should be of optimal level. Go through educational books and videos. Protect you personal details like your private keys and so on.
We all want cryptocurrency to grow but work needs to be done
You are right. Whereas we hear a lot of complaints from newbies who often blame for being caught in fraud, hacking cases, and losses due to lack of knowledge of market analysis, just trapped in FOMO and following mass hysteria. Even though it was their own fault for not wanting to learn the cryptocurrency ecosystem first.PS. Cryptocurrency is no joking ground and it is still developing when you are in it either you gain or you lose. It is very important to know how to navigate it personal security should be of optimal level. Go through educational books and videos. Protect you personal details like your private keys and so on.
We all want cryptocurrency to grow but work needs to be done
How beneficial and disadvantageous it depends on our attitude in maintaining the circulation of funds in cryptocurrency. Understand the risks and do your best to prevent hacking.
October 18, 2019, 12:01:58 PM
Yes, the potential of bitcoin to be the currency of the future, but it is still on it's developmental stage. There are many things to be done, and a lot of areas for improvement. Like other technologies which aren't that good at first, bitcoin also have areas which were needs to be enhance, but let us be patient.
Let's be more patient this time as more developments will take place sooner and adjustments will follow. Bitcoin is still so young so it's still have more rooms to grow. Once bitcoin will be fully stable, i think the government will start seeing its potentials and hopefully will lead to a more mass adoption which is the main goal of bitcoin. If bitcoin cannot replace fiat currencies, atleast it can be consider as an alternative payment system. October 18, 2019, 06:00:21 AM
That's right, we have a lot of work to do, if we want Bitcoin to become something more.
October 17, 2019, 11:56:19 PM
Bitcoin has achieved so much praise in such a short period of time but its potential dictates to elevate even higher. A lot of work needs to be done to make it mainstream.
Yes, there is still much talk and agreement to be had. Because it has a huge impact especially on the users as there is a huge risk that it can be faced by using it. Something like that happened here in my country. They used bitcoin as payment in online stores without thinking what the impact would be. This is why big misunderstandings occur because the price of bitcoin has dropped since it led to the loss of sellers who received payment using bitcoin.
October 17, 2019, 01:25:06 PM
No great thing in the history of humanity has been achieved easily. Look at peace, telephone, internet, country independencies and so much more. When you're doing fundamental changes at scale that will affect the whole world's perception and daily life you will surely meet some big hurdles to jump, but it is definitely worth it. If we manage to integrate cryptocurrencies and the blockchain technology at a global level the generations to come and not only will reap huge economic and time benefits. Some people like it and some don't, but automatization is a great thing as it gives us time, that you can choose to spend it with your dear ones or doing the things you love. I don't believe that we were created to do repetitive work, but to be creative and transform things for the better good.
October 17, 2019, 01:10:54 PM
OP has some valid points in here, but I don’t think regulation can even solve some of the issues of bitcoin that you listed here and I think that we just have to learn to deal with it on our own. In bitcoin transaction, we have to be very careful about it and if we can be careful, we should not make much mistakes in wallet, the password and all the issue we have here, and that is why bitcoin is for intelligent people.
The creator is a smart and intelligent person, and so as the community of bitcoin ought to be smart, because I see it as carelessness that someone would forget details about his wallet, and the I think that one of the reasons why people forget their wallet is because they don’t make use of it, they just buy bitcoin and then hold it there permanently till further notice.
The creator is a smart and intelligent person, and so as the community of bitcoin ought to be smart, because I see it as carelessness that someone would forget details about his wallet, and the I think that one of the reasons why people forget their wallet is because they don’t make use of it, they just buy bitcoin and then hold it there permanently till further notice.
October 10, 2019, 08:51:00 PM
Yes, the potential of bitcoin to be the currency of the future, but it is still on it's developmental stage. There are many things to be done, and a lot of areas for improvement. Like other technologies which aren't that good at first, bitcoin also have areas which were needs to be enhance, but let us be patient.
October 10, 2019, 01:56:53 PM
Of course Bitcoin is not perfect, it has to be developed but it is the beginnig of the cryptocurrencies and perfectly shows what is its potential. It represents the digital era. Bitcoin is an enormous, tim-consuming project, so I think that in the near future Bitcoin will be known as the "digital gold" and it will become a very important part of the payments in the future. Surely the work to be done is a lot but now people should understand the importance of Bitcoin.
October 10, 2019, 05:55:51 AM
Banks and crypto have their advantages and disadvantages. Banks has an edge when it comes to security but financial freedom could be found in cryptocurrency. It's risky that we might lose our earnings if we'll lose our private keys but that's our responsibility. That's why there are warnings and tips on how to protect our private keys. Bitcoin has still a lot to improve but it actually passed a lot of tests of time.
October 10, 2019, 04:50:36 AM
Bitcoin will surely dominate the market in the future and mostlike to increase its popularity once the value resch mo than its ATH last 2017. And as of now even though some people are against it and problem with implementation it will surely survive.
That's why it is better to buy while its cheap and hodl for a long term.
That's why it is better to buy while its cheap and hodl for a long term.
October 10, 2019, 04:19:42 AM
there is also true that you said in the post, but in my opinion it is safe for all bitcoin wallet users but there are many things we need to be more careful about and use a bitcoin wallet as you said before if we send bitcoin to the wrong address then we don't can cancel it or lose our own bitcoin, but it all depends on ourselves whether we are thorough and effective in using our bitcoin wallet.
October 06, 2019, 01:44:51 AM
Personally, I see the future of Cryptocurrency lying in the Central banks’ future decisions on tokenizing fiat currency. If central banks start creating government backed stable coins, then naturally payment processors will adapt to accept digital coins at checkout. From that point, the future of Cryptocurrency lies with digital wallet developers to develop ways to swap Cryptocurrency for these central bank coins at the point of transaction for no cost. So if you hold BTC, Dash, and LTC for example and you want to pay for your coffee with Bitcoin, you would select bitcoin and scan/tap the register to initiate payment, and the merchant would receive their preferred currency of payment without even being aware you paid with Cryptocurrency. Just my opinion, but my point being that there are many ways to improve on the current system that has been developed by banks.
October 06, 2019, 01:34:22 AM
All of what you said is true as of now. There are steps to be done to better improve the platform. What we need is to maintain bitcoin's traction and not be restricted by government to further achieve our goal. There are still hindrances such as those problems you mentioned but I still believe that some bright minds that develops bitcoin core would come up to solve those problems. Or we may have integration to banks and support bitcoin transactions without paying too much service fees. We really don't know what will happen in the future, but we must assure to make steps that won't destroy our goal.
October 06, 2019, 01:23:51 AM
~Snip
There are a few disadvantages in storing the money on your own, but the benefits from doing so far outweighs these negatives. One of the biggest advantages is that your financial information is confidential. If you keep the holdings hidden, then no one else will know how many coins you have, or how you are spending your coins. If you keep your money in a bank account, this is not possible.
Yes, saving money on bitcoin will make wealth unknown to many people. I'm not sure people will know if the owner doesn't tell.There are a few disadvantages in storing the money on your own, but the benefits from doing so far outweighs these negatives. One of the biggest advantages is that your financial information is confidential. If you keep the holdings hidden, then no one else will know how many coins you have, or how you are spending your coins. If you keep your money in a bank account, this is not possible.
The secret nature makes many people save their money on bitcoin, but still they will continue to be faced with fluctuating prices. In my opinion, to keep the amount of wealth stable, it seems that bitcoin is not good enough for those who fear that their wealth will decrease.
October 06, 2019, 01:09:30 AM
Bitcoin is not perfect. These things you have mentioned can be its disadvantage of engaging yourself with bitcoin. Bitcoin is deventralized that it lacks security since no one is above, securing all information and your assets. You're the only one responsible for your own bitcoin. If it got lost or you got scammed, it's your responsibility. Since it's our own choice investing with bitcoin, to avoid from anyone who could control our assets. It's our control, it's our responsibility. That's why we should always be careful when it comes to crypto. It may look like a lot of work at first, but when you're already used to it, you'll know how to handle your own assets
It is good for us, right? Bitcoin gives us the opportunity to store the money ourselves. We don't need to give the responsibility of storing our money to the banks or any other financial institutions. Also, security of your wealth is in your own hands. You don't needs to worry about the bank getting robbed, and you don't need to lose your sleep over the bank going through some financial crisis and declaring bankruptcy.
There are a few disadvantages in storing the money on your own, but the benefits from doing so far outweighs these negatives. One of the biggest advantages is that your financial information is confidential. If you keep the holdings hidden, then no one else will know how many coins you have, or how you are spending your coins. If you keep your money in a bank account, this is not possible.
October 05, 2019, 11:37:00 PM
Bitcoin has passed more than 9 year as a crypto currency. It is still being developed. As you have said, A lot of hard work is needed to be done to turn it into the future.
It has certainly come a long way and I expect that it will still keep on growing and becoming a much bigger and successful cryptocurrency in the foreseeable future.
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