Topic: Reason why bitcoin won't last long (which are you afraid of?) - page 3. (Read 1643 times)
Most on the list can be prevented except, probably getting hacked. But still, I am not worried. Why? Because I invested only what I can afford to lose. And I already got my ROI earlier this year.
I think your friend was afraid to invest in bitcoin because of 5 points "The potential can be replaced by an improved crypto currency.". Personally, I'm not afraid of anything from the above.
Everyday a number of new altcoins were born although it is also a fact that only a handful of them will last long. But i do believe that the role of altcoins great technology will be the cause of bitcoins downfall if ever. Also its potential to rectify bitcoins shortcomings such as volatility, scalability, slow transaction, higher transaction fees, etc.
For an altcoin to be able to straighten out these significant technical problems will become its ultimate selling point in the watchful eye of the investors.
For an altcoin to be able to straighten out these significant technical problems will become its ultimate selling point in the watchful eye of the investors.
* Number 4: can be addressed with programming... that is what makes Bitcoin and other cryptocurrencies great — they are programmable. You can develop a software and offer service that allows refunds or chargebacks. You can build whatever you want on top of Bitcoin.
I have no afraid because I accept as true with to bitcoin that they could recover again. What manifest to bitcoin we are right here for the bitcoin they have got disadvatange of bitcoin however the importants is the advantage or the feasible you get.
What comes to my mind is that when a great number of users using Bitcoin, the transactions take a very long time to be confirmed and the fee required to pay is extremely higher than normal. During the last year feverish trade, the fee was up to 57$ per transactions. Too high to afford!
When there are great numbers of bitcoin users then it comes for bitcoin to be more expensive. Transaction fees and processing are problem that cannot be corrected even the price goes down but because become a big problem when the price goes high. The traffic along the network become heavier which required high fee to process faster. For me the reason number one of the reasons you mentioned is because other electronic money can be substituted. Bitcoin is not perfect, not the bulk of the coins out there. But the fact is that when we are in mysterious people, there is potential in other currencies out there
Limitations should not be the reason for an investor not investing in Bitcoin. I hope the problem is resolved quickly because it will ruin the reputation of bitcoin and people will be afraid to buy bitcoin because of many problems happening in bitcoin.
Are we not talking about quantum computing? Cuz in my mind that is the biggest threat to Bitcoin and crypto as a whole.
I'm not worried about it, from my previous experience I can learn to deal with the obstacles that bitcoin might encounter. That is the point of this forum, here we share knowledge and problem solving appropriately.
After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following
1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form
Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).
Which of the following disadvantages are you afraid of and how do you think it can be resolved
1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form
Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).
Which of the following disadvantages are you afraid of and how do you think it can be resolved
That's funny, some of your argument wasn't issue at all. Bitcoin was a crypto and obviously a digital money and runs trough blockchain that is why it has no physical form. Also, price volatility also gives the user certain benefits. LAstly, a lot of big companies are accepting it and there is a possibility for the banks to acquire the current system. Thus, can make bitcoin more powerful.
After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following
1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form
Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).
Which of the following disadvantages are you afraid of and how do you think it can be resolved
1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form
Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).
Which of the following disadvantages are you afraid of and how do you think it can be resolved
Everything above scares me, but I dont want to lose this opportunity that may change my current state, cause we not rich and this is my chance to prove something to myself, this is a total risk but you know that the nature of success, taste the bitterness of failure to achieve the sweetness of sucess, although at this point shortage of Bitcoin is coming due to the fact that it was really limited and that's the truth and we cannot control it better to work better.
After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following
1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form
Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).
Which of the following disadvantages are you afraid of and how do you think it can be resolved
1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form
Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).
Which of the following disadvantages are you afraid of and how do you think it can be resolved
Yes it is possible, but for the benefit I can get then I think more positively about bitcoin, and I believe that bitcoin can still survive in the long run, trust is important for better results.
Although there are many shortcomings in bitcoin, all of these are existing, but I think the community is growing, and most people will choose to believe in bitcoin.
I think bitcoin will be prolonged and very long because of what the money market has given us so much you can imagine the ico programs have brought great economic benefits and positive
I think except for the third thing, all these issues are worrying. The solution is probably to improve Bitcoin even further
I'm afraid the first thing and the way I do is try to find a reputable bitcoin floor
the only problem in my opinion is a very large number of mossins! Mosquitoes spoil the reputation of the entire crypto industry! because of them they constantly impose prohibitions and restrictions! The second problem is in the government, which could not legalize the crypto coins! they could be an alternative to electronic payment systems!
After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following
1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form
Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).
Which of the following disadvantages are you afraid of and how do you think it can be resolved
The 5th one. Well nothing remains as it is because there is always be a changes. Its possible for us to be replaced. Just like other people said nothing lasts forever. Probably sooner theres a new cryptocurrency that will bring bitcoin down and we cant do anything about it. 1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form
Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).
Which of the following disadvantages are you afraid of and how do you think it can be resolved
After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following
1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form
Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).
Which of the following disadvantages are you afraid of and how do you think it can be resolved
1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form
Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).
Which of the following disadvantages are you afraid of and how do you think it can be resolved
yes bitcoin will not last long because many ICO projects are scam, wallets can be lost because hackers and bitcoins are not widely accepted.
I hope the above problems are quickly resolved because it will damage the reputation of bitcoin and people will be afraid to buy bitcoin because of the many problems that occur in bitcoin.
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