Topic: Reason why bitcoin won't last long (which are you afraid of?) - page 5. (Read 1643 times)
Actually most of these problems you pointed out are already existed with the fiat currency or can be resolved through time. In my opinion bitcoin will last long, more than anyone expected.
I am concerned because the price fluctuation of Bitcoin is quite high. That made me quite worried about my Bitcoin amount. I do not know when Bitcoin will come up and when Bitcoin will be down. And not many times I have lost money. I do not mind the risk of scam just be alert and careful, then my account will be safe
Bitcoin will last long and that is why it is the basis for the trend of the altcoins, if bitcoin goes down then the altcoins will go down also and if the bitcoin goes up then the altcoin will follow the trend slowly and if there will be no bitcoin in the future then it means that there will be a confusion for the trend of the cryptocurrency especially the altcoins.
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
You forgot about scalable
bitcoin has a scalability problem
7 transactions per second is not enough for worldwide adoption
that's the main issue of bitcoin i'm afraid of
It seems to me that the most dangerous drawback of bitcoin is described in paragraph 1. All other problems can not prevent the active development of cryptocurrency.
there is nothing to be afraid of in bitcoin, I think bitcoin is very promising and in demand by many people. who are afraid of bitcoin may be because bitcoin has not been accepted by all countries and i afraid of hacker
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
Another reason why bitcoin would not last is that mining setups be a lot more expensive in the future. This may lead bitcoin to crash since people would not be interested in mining or even investing in it due to lack of resources. One way to solve this is that if people could actually find an alternative mining setups that would have lesser cost but with better efficiencies.
When the Government decline to recognize the essential functions of Bitcoin as they usually dubbed it as imaginary and bubble. In the long-term it is not good for Bitcoin and in Crypto as a whole. Elitist might find ways to stop the operation supporting Bitcoin
You have some valid points.This may be one of the reason why most of the people involved in Bitcoin and other crypto.But half of them are rectified now.Yes wallet can be lost,But you to save some password for the safe.And the price volatility is the advantages of Bitcoin.But I don't know why people assume as disadvantages.
Not that i afraid of those,but people who still new maybe get afraid by Exposure to Bitcoin-Specific Scams and Fraud & Potential to Be Replaced by Superior Cryptocurrency.They will refuse to involve themselves in crypto because they hear some people get scammed and lose their money.For those who know cypto,they will consider the possibility that bitcoin will be replaced by more advanced crypto in the future,so they will wait for that to happen.
The reason that can lead the bitcoin wil last and never exist is when they lose their supports in their services. The people is the lifeblood of the business that should be take care off.
I don't have any afraid because I believe to bitcoin that they can recover again. What happen to bitcoin we are here for the bitcoin they have disadvatange of bitcoin but the importants is the advantage or the possible you get.
I'm most afraid of the number five. Everyone knows that nothing is eternal. And sure it would also apply to bitcoin. How strong is the position of bitcoin until now, we don't know what happens in the future. Therefore, the future is frightening. I'm afraid if its position is shifted by another coin, which may have many advantages compared with bitcoin.
For me, bitcoin wont last long if people continue to use it as scam and countries will ban it due to illegal use, then other countries as well will follow. I thats the case bitcoin will close.
Bitcoin will be in here for more than yeras, i do not understand why there are so many people in here afraid of that, came on guys, we all know that it has already been in here for 9 years already
My fear is that government might ban it in my country too though, they have not said anything about bitcoin for now and i don't pray for such thing to happen.
in fact I do not think that bitcoin will not last long but the reason if bitcoin does not last long is that not all countries can accept bitcoin like that my opinion
Some experts advice that:” Don’t store money too long in exchanges. Bitcoin exchanges in any countries are attacked by hacker regularly. Therefore, when a transaction is done, investor should turn into a safe wallet of Bitcoin.
RBI had also issued a notice last year against the use of Bitcoins stating that the virtual currency was being used for money laundering and terror financing. They also expressed their concern over it not being regulated by a central body of the government and that it poses several risks to the end users. The RBI has issued similar notices against the use of lite coins, BBQ coins and doge coins stating that similar word of caution has been warned about by the European central bank.
None of these your reasons gives me fear that bitcoin will not make it in the future because if it won't make it since all these while it would have died down or the exchange rate must have gone down beyond imagination.
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