Biggest challenges of bitcoin... - page 2.

erixter

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Quote from: Chainsmokers on May 27, 2023, 10:35:22 AM

It is proven and tested that Bitcoin is a good investment in the long-term and that cannot be denied, and Bitcoin has many features that other cryptocurrencies do not have, even if it is used as a payment option online it is a big deal how much more even with the opportunity it gives to people. In addition to this it also provides savings in the future, so the scalability that you are talking about is only a low percentage of the problem that a bitcoin holders will face honestly in my opinion.

I agree with your options and opinions, and have been trading since last year. But in the coming times when the internet advancements and the technology advancement and many other web related projects come into the market, some factors must affect on to the values of BTC like, its Scalability, Volatility and market maturity, Security and hacking risks etc and will face several challenges that may impact its future while Bitcoin has gained significant popularity and recognition. In view of the comparative assessment of the market and the prevailing conditions, BTC will face some challenges till now, and I will not hesitate to say here that there is already a very good and secure system is in Place.

rby

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At this stage of bitcoin is not when someone will be talking about scalability problems. I agree that scalability is one of the issues that bitcoin has faced and the developers are not folding their hands about it. The following and more technologies have been introduced to enhance scalability;

Lightening Network
SegWit addresses
Taproot

So, this us no longer a pressing issues in bitcoin as the network has been able to process transactions very fast of not for the recent ordinals attack.
Besides, the scalability you mentioned has no relationship with bitcoin investment. Because a long term investor might only withdraw twice in 4yrs.

beerlover

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Quote from: rojan on May 26, 2023, 12:19:11 PM

Quote from: benalexis12 on May 24, 2023, 07:55:46 PM

It is proven and tested that Bitcoin is a good investment in the long-term and that cannot be denied, and Bitcoin has many features that other cryptocurrencies do not have, even if it is used as a payment option online it is a big deal how much more even with the opportunity it gives to people. In addition to this it also provides savings in the future, so the scalability that you are talking about is only a low percentage of the problem that a bitcoin holders will face honestly in my opinion.

I think the number of Bitcoin usage is increasing day by day. Through Bitcoin we can now do almost all the different things starting from payment. Bitcoin usage is increasing day by day. It seems that at some point all people will use Bitcoin. .But it will take a few more years. Everything is getting smarter as the days go by.

I agree, bitcoin will be used a lot more in the future even still, which means that we need to handle all of this transaction fee situation before we get there. I have no idea how that will be done, better minds than me are on the subject working on finding a solution to it, but I can testify that we have been late already and need to come up with something.

If we want to have more people in the bitcoin world, that requires us to have something that will make it more expensive to trade and move money around. People could do that for free in the fiat world for most cases, why would they want to prefer something that would cost them 10+ dollars to do when they can do it for free in fiat? In order to grow, we need to figure that part out.

Chainsmokers

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Quote from: rojan on May 26, 2023, 12:19:11 PM

Quote from: benalexis12 on May 24, 2023, 07:55:46 PM

It is proven and tested that Bitcoin is a good investment in the long-term and that cannot be denied, and Bitcoin has many features that other cryptocurrencies do not have, even if it is used as a payment option online it is a big deal how much more even with the opportunity it gives to people. In addition to this it also provides savings in the future, so the scalability that you are talking about is only a low percentage of the problem that a bitcoin holders will face honestly in my opinion.

I think the number of Bitcoin usage is increasing day by day. Through Bitcoin we can now do almost all the different things starting from payment. Bitcoin usage is increasing day by day. It seems that at some point all people will use Bitcoin. .But it will take a few more years. Everything is getting smarter as the days go by.

The development of Bitcoin is truly amazing and I think maybe 10 years ago I never thought it would be like this,
what is certain is that the number of Bitcoin users will continue to grow and that is also inseparable from the information circulating more and more,
This is interesting and we just follow its development.

CarnagexD

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Quote from: benalexis12 on May 24, 2023, 07:55:46 PM

It is proven and tested that Bitcoin is a good investment in the long-term and that cannot be denied, and Bitcoin has many features that other cryptocurrencies do not have, even if it is used as a payment option online it is a big deal how much more even with the opportunity it gives to people. In addition to this it also provides savings in the future, so the scalability that you are talking about is only a low percentage of the problem that a bitcoin holders will face honestly in my opinion.

this is true with the sector of technology booming, there is no doubt that the advancement of asset classes especially Bitcoin will rise its value significantly. I am telling this in a long term perspective. However, just be wary that anything can happen in the market. Global factor affects the price of any risky assets in the market, it could be war, inflation, or another pandemic. Bitcoin is very scalable and can be accessed in very convenient way. There is a great challenge in bitcoin, but there is also a great reward.

rojan

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Quote from: benalexis12 on May 24, 2023, 07:55:46 PM

It is proven and tested that Bitcoin is a good investment in the long-term and that cannot be denied, and Bitcoin has many features that other cryptocurrencies do not have, even if it is used as a payment option online it is a big deal how much more even with the opportunity it gives to people. In addition to this it also provides savings in the future, so the scalability that you are talking about is only a low percentage of the problem that a bitcoin holders will face honestly in my opinion.

I think the number of Bitcoin usage is increasing day by day. Through Bitcoin we can now do almost all the different things starting from payment. Bitcoin usage is increasing day by day. It seems that at some point all people will use Bitcoin. .But it will take a few more years. Everything is getting smarter as the days go by.

Lorence.xD

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Quote from: Ojima-ojo on May 24, 2023, 05:43:45 PM

Bitcoin to me have no problem with scalability at the moment and the only noticeable problem is with bitcoin user who failed to gain the necessary knowledge to push through the various ways and means of getting things done with using bitcoin as a speculative asset or daily user.

Bitcoin has been built as all one project that can be properly utilised e ed in whatever form but also must accept the fact that the availability of various tool that aids scalability and clear transactions make it clear that we must have built up enough knowledge that will enhance a stable-dealings with bitcoin.

Same thought, it's scalability haven't been an issue to me plus it's normal for Bitcoin since it's a volatile system which it's literally changing of it's value. With it's value its true that there's a lot of methods or ways to take action to the scalability of the Bitcoin. But the only problem that I've faced is that some of that transactions literally took a lot of days before finishing the transactions itself. Sometimes it took weeks, but I think it's also normal in Bitcoin but so far that's the only problem I have faced. For sure there's people that are still learning and finding some solutions to problems that we are facing rn in Bitcoin.

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Quote from: MTNNET on May 16, 2023, 08:46:57 AM

I personal see that there are scalability difficulties with cryptocurrencies, which means they may not be able to process enormous quantities of transactions at once. This might make them difficult to utilize for routine transactions, since these transactions may take too long to process and complete.

Well, there's a solution for that. Increase the transaction fee for your transaction to be processed faster.
Just so you know, there are still some Bitcoin investors who are willing to pay higher transaction fees just to push up their transaction. There will always be investors who are willing to add more transaction fee just so the process of their transaction will be faster. Right now, the only solution that for the scalability issue of Bitcoin is the Lightning Network, but not that much investors are using it right now unfortunately.

Quote from: MTNNET on May 16, 2023, 08:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

Sometimes, it depends on the mindset of the investor.

If they don't care about the pros of it like the scalability or whatever it is, they will still buy it because they believe that they will earn from investing into Bitcoin. These mostly are the newbie investors. Now if you have been investing into Bitcoin for quite some time, I guess pros and cons don't matter at all especially if you are holding it for long term. I've been investing into Bitcoin for years already, and I didn't saw the scalability issue of it as a problem for me.

Now to answer your question, it's always worth it in investing into Bitcoin as long as you know what are the risks of it.

JeffBrad12

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bitcoin always such a good investment for long term seeing from the chart of year by year you could see its growth is linear but biggest challenge that i've seen that is really essential is its scalability.
even though its not as bad as ethereum because maybe it's not some smart contract blockchain but regardless it still have scalability concern.
added with the fact that there are ordinal that gonna make a loophole of bitcoin into some full fledged way of deploying some BRC-20 token protocol.
i'm sure this should be concern in the future since its scalability still requires some further development.

benalexis12

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It is proven and tested that Bitcoin is a good investment in the long-term and that cannot be denied, and Bitcoin has many features that other cryptocurrencies do not have, even if it is used as a payment option online it is a big deal how much more even with the opportunity it gives to people. In addition to this it also provides savings in the future, so the scalability that you are talking about is only a low percentage of the problem that a bitcoin holders will face honestly in my opinion.

Ojima-ojo

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Bitcoin to me have no problem with scalability at the moment and the only noticeable problem is with bitcoin user who failed to gain the necessary knowledge to push through the various ways and means of getting things done with using bitcoin as a speculative asset or daily user.

Bitcoin has been built as all one project that can be properly utilised e ed in whatever form but also must accept the fact that the availability of various tool that aids scalability and clear transactions make it clear that we must have built up enough knowledge that will enhance a stable-dealings with bitcoin.

dunfida

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Quote from: ethereumhunter on May 23, 2023, 09:27:29 AM

Quote from: darewaller on May 23, 2023, 06:23:40 AM

Quote from: ethereumhunter on May 19, 2023, 05:14:56 AM

Quote from: MTNNET on May 16, 2023, 08:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

I can invest in bitcoin. That's what I told myself. I see bitcoin is worth investing in, even at the current price, bitcoin is still very worth investing in. For me, it was a smart choice to choose bitcoin as my investment because to invest in other things, I still can't afford it.

The challenges mentioned, namely the pros and cons or what makes it difficult to invest, come from you. If you are still hesitant to invest in bitcoin, it's best not to go ahead and think more so you find out what your reasons are for investing in bitcoin. At least, I advise other people or my friends to think and learn more about bitcoin.

Current price is lower than last ATH so it's not a bad idea if we can start investing even today. As long as we have some patience we can be able to earn once bitcoin starts to recover. There are different types of investment instruments but indeed not all of them are affordable and easy to reach by a poor individual. Good thing is, cryptos are invented. Not only cryptos can be used as a currency, people can also treat them as an asset.

What is great on them is that we can be able to buy even at smaller quantities. Bitcoin is not hard to learn. It is possible to buy and HODL it while continue learning on the side. Once we are equipped with knowledge, challenges will only be overcome.

And in investing in crypto, people can choose bitcoin or altcoin and many of them have chosen bitcoin as their main investment. To invest in altcoins, they need to have the knowledge to choose the coin because there are many coins on the market and not all coins can be upgraded in the future. This requires further analysis to find the right altcoin so that it can provide benefits for them. But they can only invest in bitcoin without owning altcoins and that is enough for beginners who want to start investing in crypto. But it's not easy to be able to benefit from investing in bitcoin because they have to have the patience to wait for the bull run to come.

When it comes to investment then it would be always boiling down into your choice because not all would really be that choosing Bitcoin because they cant able to get easy 2x or 10x with it and this is why they would
considering on touching up altcoins.It not bad since we could neither have both as long your money or investment permits you out. Challenges are common because we cant just deal with off easily without having those challenges but the main key on here is that we could certainly make out adjustments on whatever lapses or cons it does have. This is one of the risks taking factor which we should really be needing to deal off with once you do step your foot into this market. When we do speak about recognition and adoption then it is really that on process and we should really be that normally be progressing as years
passing by and this is why we shouldnt really worry that much.

Hamza2424

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Scalability is not that much bigger a problem with Bitcoin especially if you don't put scrap on the Bitcoin. Also with the problems there are numerous solutions available on the Blockchain L2 is the most successful example in front of you in the form of lightning network and ETH L2 projects. In blockcHAIN SPACE when you are talking about scalability then you should need t to consider that decentralization should not be compromised in the name of scalability especially when it's for the payment mode.

My take on it is current problems are self-generated we cant integrate the things for which blockchain was not designed and extra load will always cause problems so we need to develop a controlled and limited space for full efficiency.

ethereumhunter

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Quote from: darewaller on May 23, 2023, 06:23:40 AM

Quote from: ethereumhunter on May 19, 2023, 05:14:56 AM

Quote from: MTNNET on May 16, 2023, 08:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

I can invest in bitcoin. That's what I told myself. I see bitcoin is worth investing in, even at the current price, bitcoin is still very worth investing in. For me, it was a smart choice to choose bitcoin as my investment because to invest in other things, I still can't afford it.

The challenges mentioned, namely the pros and cons or what makes it difficult to invest, come from you. If you are still hesitant to invest in bitcoin, it's best not to go ahead and think more so you find out what your reasons are for investing in bitcoin. At least, I advise other people or my friends to think and learn more about bitcoin.

Current price is lower than last ATH so it's not a bad idea if we can start investing even today. As long as we have some patience we can be able to earn once bitcoin starts to recover. There are different types of investment instruments but indeed not all of them are affordable and easy to reach by a poor individual. Good thing is, cryptos are invented. Not only cryptos can be used as a currency, people can also treat them as an asset.

What is great on them is that we can be able to buy even at smaller quantities. Bitcoin is not hard to learn. It is possible to buy and HODL it while continue learning on the side. Once we are equipped with knowledge, challenges will only be overcome.

And in investing in crypto, people can choose bitcoin or altcoin and many of them have chosen bitcoin as their main investment. To invest in altcoins, they need to have the knowledge to choose the coin because there are many coins on the market and not all coins can be upgraded in the future. This requires further analysis to find the right altcoin so that it can provide benefits for them. But they can only invest in bitcoin without owning altcoins and that is enough for beginners who want to start investing in crypto. But it's not easy to be able to benefit from investing in bitcoin because they have to have the patience to wait for the bull run to come.

livingfree

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Quote from: Litzki1990 on May 21, 2023, 09:27:33 AM

When it comes to investing in cryptocurrencies I will definitely invest in Bitcoin because I always think Bitcoin is the best investment. Because other coins in the market depend on Bitcoin, we should always invest in coins that the market generally depends on.
Investing in Bitcoin is relatively safe as the Bitcoin market does not experience as much volatility as other currencies, thus investing in Bitcoin can be done with confidence. And if the advantages and disadvantages are considered then the advantages will be more than the disadvantages. And those who like to take on the challenge usually invest in other crypto platforms, including Bitcoin

It is the best investment on this generation. People may argue and may disagree but we're here and all of us know that this is the best asset that we've got.

It has changed a lot of lives and that's why even if people will decline to say and won't agree with us, it has changed our lives and that's it. Those that are asking to invest, the challenge is in you guys because you're thinking that people are discouraging you to invest.

But, with that, it's just all about what you can afford to lose on this very risky investment and Bitcoin is totally like that.

arwin100

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Quote from: darewaller on May 23, 2023, 06:23:40 AM

Quote from: ethereumhunter on May 19, 2023, 05:14:56 AM

Quote from: MTNNET on May 16, 2023, 08:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

I can invest in bitcoin. That's what I told myself. I see bitcoin is worth investing in, even at the current price, bitcoin is still very worth investing in. For me, it was a smart choice to choose bitcoin as my investment because to invest in other things, I still can't afford it.

The challenges mentioned, namely the pros and cons or what makes it difficult to invest, come from you. If you are still hesitant to invest in bitcoin, it's best not to go ahead and think more so you find out what your reasons are for investing in bitcoin. At least, I advise other people or my friends to think and learn more about bitcoin.

Current price is lower than last ATH so it's not a bad idea if we can start investing even today. As long as we have some patience we can be able to earn once bitcoin starts to recover.

Bitcoin is not hard to learn. It is possible to buy and HODL it while continue learning on the side. Once we are equipped with knowledge, challenges will only be overcome.

People just need to have knowledge about past and current events so that they can determine that its still good to invest on bitcoin even if we are down with its past ATH. Although we can't blame other to think negatively on the bearish situation on bitcoin since this is normal and this is bit challenging scenario which newbie need to understand that this one really happen so that they will not get panic if the same like situation will occur.

Bitcoin for newbie is hard to learn but for consistent researching for sure newbie could understand its technicalities.

darewaller

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Quote from: ethereumhunter on May 19, 2023, 05:14:56 AM

Quote from: MTNNET on May 16, 2023, 08:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

I can invest in bitcoin. That's what I told myself. I see bitcoin is worth investing in, even at the current price, bitcoin is still very worth investing in. For me, it was a smart choice to choose bitcoin as my investment because to invest in other things, I still can't afford it.

The challenges mentioned, namely the pros and cons or what makes it difficult to invest, come from you. If you are still hesitant to invest in bitcoin, it's best not to go ahead and think more so you find out what your reasons are for investing in bitcoin. At least, I advise other people or my friends to think and learn more about bitcoin.

Current price is lower than last ATH so it's not a bad idea if we can start investing even today. As long as we have some patience we can be able to earn once bitcoin starts to recover. There are different types of investment instruments but indeed not all of them are affordable and easy to reach by a poor individual. Good thing is, cryptos are invented. Not only cryptos can be used as a currency, people can also treat them as an asset.

What is great on them is that we can be able to buy even at smaller quantities. Bitcoin is not hard to learn. It is possible to buy and HODL it while continue learning on the side. Once we are equipped with knowledge, challenges will only be overcome.

Litzki1990

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Quote from: MTNNET on May 16, 2023, 08:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

When it comes to investing in cryptocurrencies I will definitely invest in Bitcoin because I always think Bitcoin is the best investment. Because other coins in the market depend on Bitcoin, we should always invest in coins that the market generally depends on.
Investing in Bitcoin is relatively safe as the Bitcoin market does not experience as much volatility as other currencies, thus investing in Bitcoin can be done with confidence. And if the advantages and disadvantages are considered then the advantages will be more than the disadvantages. And those who like to take on the challenge usually invest in other crypto platforms, including Bitcoin

jeraldskie11

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Quote from: MTNNET on May 16, 2023, 08:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

If you're only investing in Bitcoin, I don't think scalability will be an issue. However, if you use Bitcoin on a regular basis, scalability will be an issue for you. If possible, conduct the transaction using the Bitcoin lightning network to save processing time and fees. The only issue was that people were unfamiliar with the lightning network. That is why, if you understand what a lightning network is and how it works, you can tell them everything you know.
Furthermore, of all cryptocurrencies, Bitcoin is the finest investment.

rozak

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Quote from: Bitcoin_people on May 21, 2023, 02:42:00 AM

When you invest in Bitcoin, you must invest in a bear market. the market is in this position to invest right now so you make an investment and wait for Bitcoin to pump.

for beginners, it is highly recommended to invest in Bitcoin. or maybe those who want to learn to trade can look for Bitcoin pairs. even though the value remains volatile and risky, Bitcoin will be a safer asset than investing with Altcoins.
when it comes to the right time, of course, a lot of people will talk about bull markets and bear markets. but we won't know when that happens. so anyone who wants to start investing, because there are doubts regarding market conditions. just buy whenever you are ready. it doesn't need to be too big to reach the ATH pump. determine profits in a short time first as a start. and when you already know the market situation well. investment or trading can be started with better planning.

Topic: Biggest challenges of bitcoin... - page 2. (Read 596 times)