Topic: The future of cryptocurrencies depend on the understanding of the community (Read 253 times)

The main reason why the blockchain technology and Bitcoin came into being was because the centralized financial and banking system generally failed the people which resulted into that recession that took place starting 2008 in the USA which then affected the global economy. We are all for decentralization where there is no concentration of power in just some individuals or in a few sectors...so essentially this is democratization of power. However, getting there can be fraught with a lot of challenges especially since we are disrupting the traditional platforms and old ways of doing things and at the same time we are endangering many entrenched interests and naturally those in power will fight back with a good fight.

I would agree that more adoption of cryptocurrency specifically Bitcoin can hinge a lot on how people understand things on this development and how they gonna about it. We need more people to join us in this movement so that we can be a big force that even the government will recognize and not easily pressured to do against our will and conviction.

The price of Bitcoin is largely driven by speculations and though this can never be the ideal one we are looking for this is a free world and so anybody can be a speculator but with Bitcoin very volatile in 2018 and early 2018 many got burned especially those who were buoyed to buy Bitcoin ATH. We are expecting institutional money to be coming in anytime now and into 2020 but we are not so sure yet if the recently launched Bakkt can be the right vehicle for them...let's see how things will develop on this area.

You have misunderstood the author of the article. Here is the actual development and application rather than extensive information.
If that's the case, how can we use cryptocurrency? Therefore, from my point of view, the 3 points that the author wrote were reasonable and I added that it was accepted by the government manager. The cryptocurrency will then be widely applicable
Thank you

The growth of cryptocurrencies depends on how popular it is in the community, but its development depends on the whales. Whales are always the market drivers, and they decide whether the market will grow or go down. However, the more popular Crypto becomes, the lower the level of influence of the whales. I hope that in the next five years Cryptocurrency will be popular in the world.

I fully agree with you.  The problem with Bitcoin community right now is that, they are not deeply rooted to the community. They are just in for the profit sake and not understanding how Bitcoin technology and market works.  This is the reason why in every FUD that circulate the market, we always see a massive sell-off of the so called "weak hands".  Knowledge is power and can guide us and strengthen our stance in a certain matter, and knowing Bitcoin weakness and strength is the same as such.  Besides someone cannot influence other without proper knowledge on whatever the subject matter is.

The future is of crypto currencies and we need not to think any future about it. Let media publish what it wants, they can never stop the revolution of crypto.



Bitcoin is not a scam or ponzi scheme, but many altcoins are real scams and we should study before we invest in altcoins. For me bitcoin is the safest investment and you will be millionaire one day if you can hold your bitcoins for some years.

There is nothing to understand here, what people needs is trust which is nowhere to be found in crypto space today, news of scams is rampaging over the news and this is scaring most people away and some really still thinks that bitcoin is a big ponzi scheme

I think that society hears a lot about cryptocurrencies, but many do not understand what it is, many are afraid, since the media mostly only broadcast negative news

Community is necessary in order to popularize cryptocurrency. More information - more people - more dissemination. But only part of the community has an impact on cryptocurrency - these are whales and developers. It's my opinion.

Not all people realize the convenience and flexibility of cryptocurrencies! If developers can convey this to the community and make life even easier, more convenient and more useful, then "The future of cryptocurrencies depend on the understanding of the community"

Giving power to one single authority based on blind trust vs no single authority, that is everyone taking decision equally. Which one do you think is better? Of course it is going to be the second one. Decentralized network is way better than a centralized network.
By crypto currencies "growth" (you made a typo maybe?), if you mean that the growth and development of the coins and the price, then yeah it does depends on the understanding of the community. The more understanding the community is, the easier it will be to adopt the currency.

You need to fix this first. Starting July 2019, price of bitcoin was $11,000 and ended up by $9,600 at the end of the month.

Like what everyone is saying about the next bull run, it will be composed of institutional and retail money. However, just because there's a decreasing of market cap right now everyone sees it as something not going to happen anymore. They look at the short term but they never looked at the long term side of it.

I completely agree, there is little information about cryptocurrencies, most people just don’t understand what it is, many are afraid of sudden jumps, they also believe that there are a lot of scammers in crypto, all this makes itself felt

I will agree with you that the crypto community generally has great contributions to the future of cryptocurrency. By crypto community, it encompasses the team behind the project and also holders of the coins (investors) who support the project. Team members need to play their part in project development while the investors need to be patient and supportive. This way, we will excel.

The future of cryptocurrency will hinge on how successful blockchain projects will be. Also, the entire community will need an intense education on the prospects of blockchain and its application. Right now, only few projects can boast of real time use cases. Even most created dapps have failed. It may take a miracle for the next bull run to kickstart in 2020

The future depends on what we make of it. First we must eliminate greedy developers, especially those who are fake and those whose tokenomics is wrong. If there's a common forum for such, the future will be filled with only meaningful projects.

To me it depends on how individuals person understands the cryptocurrency scope ! : the future low depend on the modification and model of operation it will reply on to make it a better one !

The basis of any community is survival, and therefore people are trying to ensure a decent own lifestyle. The main goal of the community is to make a profit. If the community sees a steady increase in the price of the cryptocurrency market, the cryptocurrency will be accepted by the community as one of the means of payment.

I agree with you, there is need for people to understand what lies within blockchain and crypto so as to make better decisions and choices. The funny thing, till date when you tell some people about the crypto space their mind always points to Bitcoin that's to show the level of backwardness existing as if Bitcoin is the only cryptocurrency in existence. Nevertheless, it's just a matter of time and also at every given opportunity we should endeavour to educate people on what crypto is all about.

Both centralized and decentralized cryptocurrency will have an advantages as well as a disadvantages. We are in decentralized cryptocurrency as we all know by now but we are having issues in it but going on to centralization will not be the solution

I agree, fraud is the main problem, it prevents people from trusting the crypto industry as a whole, I also think that many people just don’t understand what crypto is, they don’t know how to buy and sell, I think that people need the right information

Over ninety percent of investors in crypto world only cares about how much they will make in every possible way, many don't give a damn about the technology itself and not even all crypro investors understands what crypto is actually,people still lacks how crypto works but one thing is certain to me, there will always be loss and profits, its just that the losses would have been lower if not for scammers invasion

Understanding of the community is really an important part for the future of cryptocurrencies, but much depends on governments and project developers. I believe that cryptocurrency will have a good future. Let's see what happens next.

Community is a massive part of success of each company, but the main reason of success is the product and team management. It does not matter how big and great the community is, because it won't bring much without competent management decisions.

Are you sure it is the community? What influence does the community have with the present condition of bitcoin? Don't you think it is the developers and cryptographers that have a greater influence on bitcoin future, the community is helpless at this point that the market is red.busy study market graph.

I think people are making some mistake thinking that the way Crypto was in early days is the way it is going to continue, big money are entering the space and they will dictate how the space would be shape. It is very likely we will see Blue chip coins and penny coins with time

It will depend on the next demographic that joins as well, which part of the world comes in and joins the crypto world changes so many things about bitcoin, maybe next time wall street will jump in, maybe there will be something huge in farmers of the world, maybe oil, maybe gaming.

We really don't know who will come into crypto world and change the sphere of it, right now we are still young so if one sector focuses on crypto too much than we can literally share all of crypto that way. I mean that we cannot be sure who are all going to be part of this all-new-community of human race hence its future may remain as a mystery for decades at least. Only after identifying the type of adopters, the future if cryptocurencies could be predicted at some levels.

Let's assume computer games turn into crypto and everyone is selling in crypto and every game has crypto money in it as well, people buy and sell their "game" currency in form of crypto that could turn into fiat, I promise you suddenly all of crypto will becomes gaming community. So, who comes in next will decide the fate... sort of.

That's true, the world needs to understand what cryptocurrency offers so as to be equipped for what the future holds. You said something about retail investors, in my own opinion, another thing needed for the crypto space to grow is enhancing the services within; imagine paying for a good or services and then waiting for minutes for it to confirm. Nevertheless, from my little findings as well as news I have seen many institutional investors entering the crypto space, so I think it's a matter of time before mass adoption will set in.
Finally, current and upcoming developers needs to step up their games not launching a project and after successful sale they starts lagging behind.

The community is getting larger by the day and there was no preparation for it. Now the vulnerability is being exploit through the internet but very bad people. We are where we are because of fraud and scam, in high and low places, if we can minimize it to a level we could recover and get a sustainable growth path. What some consider the problem are what brought others here; volatility of the coin, ICO investment, cyber crime etc. It is a very big problem that we might need to bring the community so close to every truly interested enthusiast and sanitize the space

community is very important in cryptocurrency world my friend
without community cryptocurrency will be nothing, because community is the best supporters for cryptocurrency
anyway people should understand about why the first cryptocurrency called bitcoin was created by satoshi nakamoto

Institutional investors are now looking for legal ways to enter the cryptocurrency market. the next wave of growth will occur when big money can easily enter this market

Perhaps it is time for people to enter this market to be equipped with more knowledge about it. So they can control their finances. But in addition to the experts and some who majored in finance, the majority are enthusiasts who chase after the benefits without knowledge.
So perhaps there must be a forum to train this Crypto knowledge.
Is this a good idea?

I personally believe that Big money and institutions are moving into the Crypto space, so I believe now the big whales and these mega-huge investment companies are the ones who will call the shots from now on. The community is there merely for feedback and usually for little projects that rely heavily on community input for their ongoing success. I think that many who have lost in this space will have moved on to more stable assets like gold or real estate, but there is a keen passion still in younger minds and some old alike, for the technology to evolve. Crypto is not for the faint-hearted and if the community is too fickle it will not benefit anyone in the long term that's for sure. There needs to be a solid community working for the common good, but all I see is fud infested telegram groups and a lot of people resorting to violent behavior if they lose money in a certain coin or project.

The future of cryptoqurrency depends on the project developer and also the project team, if they can develop the project correctly, it will definitely produce good results.
and now the community is only following market trends, what they think is worth investing will definitely be bought, but not with crypto that is difficult to develop.

Is a centralized or decentralized network better? How to develop the authentication feature and ensure it works well? What innovations need to take place?

At its peak in late 2017, one Bitcoin was worth nearly $ 20,000. A year earlier, it only cost $ 1,000. Bitcoin was priced at $ 6,000 in June and $ 8,000 in July and dropped to $ 6,000 in August. Bitcoin price is extremely volatile, so does Ethereum. According to the Dacxi crypto social network, unlike the pioneering wave, the next global growth wave could be fueled by two new areas of investment: institutions and retail investors.

So whether or not cryptocurrencies grow will depend greatly on the understanding of the future community. And what do you think about this?