That's a truly sad fact, as bitcoin is 9 years old and all we can think of is being in beta stage. I think it's a fundamental glitch. I know the dev team will not admit it but BTC is damn too slow for current adoption rates and efficiency. The good news is, as more people are trying to understand why bitcoin protocol exists in the first place, they are in their own ways paving the ways for blockchain adoption.
I know it is sad but it is the truth we are in a way the beta testers of bitcoin, we are the ones using it when it is still to be fully developed and dealing with the issues, but as the protocol is improved we are going to see more people adopting it, this is similar to the Internet, at first very few used it but as it began to be faster and more reliable more content appeared and more people used the Internet, this created a snowball effect and now many people cannot deal with not being connected for five minutes we will get to that point but it is not going to be soon. 
Topic: My fear with cryptocurrencies - page 2. (Read 418 times)
Fear? I will tell you something about fear.
All types of fear originated from the fear of the unknown. Whatever it is, dark, height, water or death, it always because of our lack of knowledge of what is behind those. You can analyze a person's head by knowing his fears.
That's why people are into discovery and research, we need to know everything.
So, you fear about Bitcoin's future or the money you invested?
All types of fear originated from the fear of the unknown. Whatever it is, dark, height, water or death, it always because of our lack of knowledge of what is behind those. You can analyze a person's head by knowing his fears.
That's why people are into discovery and research, we need to know everything.
So, you fear about Bitcoin's future or the money you invested?
Great comment, you deserved merit from me. If I can answer on that
question people mostly fear from losing money they invested. They do
not care about Bitcoin or any other coin.
That is why we need to research before we get into something. If we
decided to invest that should be cause we believe in that, not just to
earn money. I do not run away from that, I wish to earn here a lot. But
I am very sure that with investing in right projects and holding I will be
rich one day. This is the futrure, it can come for one year or 10 years, I
am patient and I know that in future crypto-currencies will be only types
of currencies.
Fear? I will tell you something about fear.
All types of fear originated from the fear of the unknown. Whatever it is, dark, height, water or death, it always because of our lack of knowledge of what is behind those. You can analyze a person's head by knowing his fears.
That's why people are into discovery and research, we need to know everything.
So, you fear about Bitcoin's future or the money you invested?
All types of fear originated from the fear of the unknown. Whatever it is, dark, height, water or death, it always because of our lack of knowledge of what is behind those. You can analyze a person's head by knowing his fears.
That's why people are into discovery and research, we need to know everything.
So, you fear about Bitcoin's future or the money you invested?
Great comment, you deserved merit from me. If I can answer on that
question people mostly fear from losing money they invested. They do
not care about Bitcoin or any other coin.
That is why we need to research before we get into something. If we
decided to invest that should be cause we believe in that, not just to
earn money. I do not run away from that, I wish to earn here a lot. But
I am very sure that with investing in right projects and holding I will be
rich one day. This is the futrure, it can come for one year or 10 years, I
am patient and I know that in future crypto-currencies will be only types
of currencies.
If the numbers had a pattern then the tabs will be easy to fill up, and it would not be a question of fear or doubt but of rationality.
My fear has never been with price analysis or future stakes. It's always been about scalability and adoption. Cryptocurrencies have seen remarkable growth in the past 4 years and continue to show promise. But the one outstanding question is - how long before adoption port?
"Adoption" you voiced it out yourselfes. Teh scaling debate buries the crucial parts.A company like Amazon could just run a customers portfolio that gets funded by Bitcoin. Sending a transfer for funding your expenditures once a month. Not really a thread to scalability, ain't it?
Starbucks could do, too.
Regarding "fear" well there are scientist exploring the trustlessness of crypto currencies. Assurance in financials. Fears are irrational advisors. Vires in numeris, trust in numbers, in math, that's the path.
Nuff said. Feeling batshit crazy again about recent market moves. We are only back again to "fear" because of the recent crash. Fuckit
Fear? I will tell you something about fear.
All types of fear originated from the fear of the unknown. Whatever it is, dark, height, water or death, it always because of our lack of knowledge of what is behind those. You can analyze a person's head by knowing his fears.
That's why people are into discovery and research, we need to know everything.
So, you fear about Bitcoin's future or the money you invested?
All types of fear originated from the fear of the unknown. Whatever it is, dark, height, water or death, it always because of our lack of knowledge of what is behind those. You can analyze a person's head by knowing his fears.
That's why people are into discovery and research, we need to know everything.
So, you fear about Bitcoin's future or the money you invested?
My fear has never been with price analysis or future stakes. It's always been about scalability and adoption. Cryptocurrencies have seen remarkable growth in the past 4 years and continue to show promise. But the one outstanding question is - how long before adoption port?
Some people say "fear will never solve the problem, but do while you are able to do it and can control it".
I don't know, i don't understand about the current adoption port.
Lightning Network.
According to the information i hear, is it true (lightning network), can damage or even destroy the bitcoin ecosystem?
Lightning network is now testing on main net with number of channels growing dramatically. 
This will solve the scalability problem soon.
It will offer better overall scalability to a certain extent, but it won't solve anything in that regard. Don't forget that lightning network is an off-chain scaling solution that is somewhat of the only actual way of moving forward. This will solve the scalability problem soon.Good thing is that you aren't forced to use lightning network if you for whatever reason don't want to. I personally prefer to settle all my transactions on-chain, and I'm sure that I am not the only one thinking like that.
In terms of micro transactions, lightning network will tremendously boost Bitcoin's adoption and usability, and let the majority of the people like cheap and ultra fast transactions.
It will drain the altcoin market to such extent, that people won't even bother looking at altcoins anymore aside from speculation purposes. Definitely something to look forward to, hopefully this year.
Lightning network is now testing on main net with number of channels growing dramatically. This will solve the scalability problem soon.
As for adoption, it comes after the scalability issue. In the past we have seen some services no longer accept bitcoin payment be cause of fee and confirmation time, but when that problem is solved, nothing can stop bitcoin anymore.
The government can ban bitcoin, in fact, we are seeing that battle right now. If they really want to ban it and go really harsh on cryptocurrencies, we will see another bloom in the anonymous-type coins for sure, and maybe bitcoin can adopt some more privacy technologies like those of Zcash or Monero
This will solve the scalability problem soon.As for adoption, it comes after the scalability issue. In the past we have seen some services no longer accept bitcoin payment be cause of fee and confirmation time, but when that problem is solved, nothing can stop bitcoin anymore.
The government can ban bitcoin, in fact, we are seeing that battle right now. If they really want to ban it and go really harsh on cryptocurrencies, we will see another bloom in the anonymous-type coins for sure, and maybe bitcoin can adopt some more privacy technologies like those of Zcash or Monero
My fear has never been with price analysis or future stakes. It's always been about scalability and adoption. Cryptocurrencies have seen remarkable growth in the past 4 years and continue to show promise. But the one outstanding question is - how long before adoption port?
If you look at crypto as a whole, there is plenty of scalability in aggregate. For example, while bitcoin does about 250,000 transactions every 24 hours, ethereum does about a million. So scaling is happening, but using other chains.
As long as people are able to move money and merchants are adopting a variety of cryptocurrencies, cryptocurrency is here to stay. The winner might not be bitcoin, it might be another coin. But this stuff is not going to disappear.
I have to say I'm in agreement, if it turns out that people decide bitcoin cannot be used successfully there will be many replacements waiting in the wings that can solve people's concerns.
The main issue with such an argument is that right now the general public are quite uneducated when it comes to cryptocurrencies and for many Bitcoin and cryptocurrency are synonymous. It is why we see such a strong relationship in terms of other cryptos falling when bitcoin falls.
I think this year we will have happy surprises. Cryptocurrency will not be used first for domestic transactions. In this they are still a long way from fiat and credit card options. But for international purchases will be quickly the best option. When the big global sellers start to accept them for wholesale and retail sales. And for this it is crucial that China does not ban completely. LN and other scalability solutions will be critical to the future of this economy.
It's horrible to have to ask permission to spend my money. And this is what happens when you have a bank account or a credit card. I do not want a third person to intrude and tell me how to spend my money
It's horrible to have to ask permission to spend my money. And this is what happens when you have a bank account or a credit card. I do not want a third person to intrude and tell me how to spend my money
So many altcoins are bringing out portable and credit cards systems. BTC ATM has long been around for a while now, yet this scaling issue isn't just about how to use it for payment nor is it even about security; rather I think it's more about the volatility issues that worries people the most. You could buy something at a store and 5 minutes later, either you or the merchant feels extremely cheated as the value of the cryptocurrency can vary within that period by HUGE margins!
China's ban shows how much the system can't take, if another nation were to follow suit, then we may have to return back to the shadows and darknet operations.
My fear has never been with price analysis or future stakes. It's always been about scalability and adoption. Cryptocurrencies have seen remarkable growth in the past 4 years and continue to show promise. But the one outstanding question is - how long before adoption port?
If you look at crypto as a whole, there is plenty of scalability in aggregate. For example, while bitcoin does about 250,000 transactions every 24 hours, ethereum does about a million. So scaling is happening, but using other chains.
As long as people are able to move money and merchants are adopting a variety of cryptocurrencies, cryptocurrency is here to stay. The winner might not be bitcoin, it might be another coin. But this stuff is not going to disappear.
That's quite the optimistic view there. But the reality is that people are naturally fanatics, like me. Always been a fan of bitcoin blockchain and seeing how other chains are outdoing BTC is sore. However, you are right, scaling is happening on different chains and at different levels, but will all that be enough to rid qualm from the system, when most people are used to seeing bitcoin as the crown of cryptocurrency. Besides, most alt pairs are to the BTC and that has made it have a more profound influence on market perspective and blockchain enterprise as a whole. In other words, people will always judge the summary of blockchain by how well bitcoin is doing - in price wise and technology.
My fear has never been with price analysis or future stakes. It's always been about scalability and adoption. Cryptocurrencies have seen remarkable growth in the past 4 years and continue to show promise. But the one outstanding question is - how long before adoption port?
If you look at crypto as a whole, there is plenty of scalability in aggregate. For example, while bitcoin does about 250,000 transactions every 24 hours, ethereum does about a million. So scaling is happening, but using other chains.
As long as people are able to move money and merchants are adopting a variety of cryptocurrencies, cryptocurrency is here to stay. The winner might not be bitcoin, it might be another coin. But this stuff is not going to disappear.
You have to stop it with this fear
I think this year we will have happy surprises. Cryptocurrency will not be used first for domestic transactions. In this they are still a long way from fiat and credit card options. But for international purchases will be quickly the best option. When the big global sellers start to accept them for wholesale and retail sales. And for this it is crucial that China does not ban completely. LN and other scalability solutions will be critical to the future of this economy.
It's horrible to have to ask permission to spend my money. And this is what happens when you have a bank account or a credit card. I do not want a third person to intrude and tell me how to spend my money
It's horrible to have to ask permission to spend my money. And this is what happens when you have a bank account or a credit card. I do not want a third person to intrude and tell me how to spend my money
Lightning Network.
Are you saying lightening network is bitcoin panacea? Well I couldn't agree more. It's just that the very core developers still won't agree a different version of bitcoin should exist.
My fear has never been with price analysis or future stakes. It's always been about scalability and adoption. Cryptocurrencies have seen remarkable growth in the past 4 years and continue to show promise. But the one outstanding question is - how long before adoption port?
Adoption depends almost entirely on the lightning network, if bitcoin cannot offer cheaper fees than banks and other payment options then no one is going to use it to buy and sell stuff, once that is out of the way we are going to be able to start our way to major adoption this is why even at 2018 we are still in the early stages of bitcoin, in a way bitcoin is still in a beta phase.That's a truly sad fact, as bitcoin is 9 years old and all we can think of is being in beta stage. I think it's a fundamental glitch. I know the dev team will not admit it but BTC is damn too slow for current adoption rates and efficiency. The good news is, as more people are trying to understand why bitcoin protocol exists in the first place, they are in their own ways paving the ways for blockchain adoption.
My fear has never been with price analysis or future stakes. It's always been about scalability and adoption. Cryptocurrencies have seen remarkable growth in the past 4 years and continue to show promise. But the one outstanding question is - how long before adoption port?
Adoption depends almost entirely on the lightning network, if bitcoin cannot offer cheaper fees than banks and other payment options then no one is going to use it to buy and sell stuff, once that is out of the way we are going to be able to start our way to major adoption this is why even at 2018 we are still in the early stages of bitcoin, in a way bitcoin is still in a beta phase. My fear has never been with price analysis or future stakes. It's always been about scalability and adoption. Cryptocurrencies have seen remarkable growth in the past 4 years and continue to show promise. But the one outstanding question is - how long before adoption port?
Adoption starts from the bottom, cryptos need to be accepted at smaller retailers and such and then the demand for their adoption will grow and eventually larger corporations will accept them.
Right now the general public does not really understand cryptos and most of them view bitcoin as being the only one and so it's really the only one with much of a shot at being accepted right now. Bitcoin though has two major hurdles to overcome before it's a viable payment method:
1. Transactions are too slow and too costly (should hopefully be resolved with lightning network later this year)
2. Price is too volatile - this is the difficult one to solve, the only real hope is that further adoption leads to a better understanding of bitcoin and where its price should be and then stability arises. It's kind of a chicken or the egg thing with this one.
Lightning Network.
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