Top 5 Concerns About Bitcoin ? - page 3.

yvesp110

hero member

Activity: 1092

Merit: 501

Quote from: odeskpawan on March 21, 2019, 01:27:45 AM

There is no denying that Bitcoin has come a long way since its inception. Its meteoric rise and fall in prices have garnered lots of attentions from everyone, be it traders, investors, entrepreneurs, and even scammers.
The scammers leverage phishing, some pump and dump schemes, and aim them at inflating coin prices. Not only this, here are five concerns about Bitcoin that you need to know about:
•   Cybertheft
•   Volatility and ever-fluctuation market
•   Less or no regulations
•   Block withholding
•   Tax issues

I think there is no one valid point in your discussion because all what you said has positive side according to me, as you know volatility is good for us if crypto currency is volatile we can take advantage for using it as investment to buy at low price and then holding it for profit, fluctuation is really common if price shakes we can make more profit.

Syakbrown

jr. member

Activity: 354

Merit: 1

this is because they are not used to it,for the time being, people's concerns are about the very fluactive prices going down and rising so that it is difficult to predict, and this is a problem that can block in an effort to replace fiat with bitcoin as the world's major

Bit_gamecoin

copper member

Activity: 11

Merit: 0

In my opinion the top 5 concerns we should have about bitcoin and cryptocurrency in general would be the following...

#1. The fact that the technology is in its infancy and is still very complicated to use. The wallets are not user friendly for the average user, I personally know quite a few people that have lost a lot of bitcoin simply due to user error and not understanding how wallets work.
#2. Having no central authority also causes issues for new users that do not yet understand that if they lose their password and/or their pass phrase they lose their coins. They are so used to having a central authority when it comes to managing their online money.
#3. How easy it is to scam people using this technology is a concern, even novice users are easily scammed simply because once the coins are sent they are gone for ever. No way to get them back, and anyone in the world can accept crypto payments. The same thing that makes it great is also what can cause concerns.
#4. How easy it is to clone and create forks or alt coins, it's a good thing but it's also a concern because the market becomes saturated with different useless coins that dilute our markets.
#5. The biggest concern for me is government intervention and how much they want to get involved and all the rules and regulations they want to put in place on the system that is supposed to eliminate those exact governance issues/problems.

odeskpawan

newbie

Activity: 43

Merit: 0

There is no denying that Bitcoin has come a long way since its inception. Its meteoric rise and fall in prices have garnered lots of attentions from everyone, be it traders, investors, entrepreneurs, and even scammers.
The scammers leverage phishing, some pump and dump schemes, and aim them at inflating coin prices. Not only this, here are five concerns about Bitcoin that you need to know about:
•   Cybertheft
•   Volatility and ever-fluctuation market
•   Less or no regulations
•   Block withholding
•   Tax issues

bitcoinearly

newbie

Activity: 3

Merit: 0

Top 5 concerns:

1. Quantum attacks on bitcoin
2. Block size growth
3. Bitcoins dependency on the internet
4. World Government launching its own bitcoin
5. a better "bitcoin"

Mrsparks

jr. member

Activity: 406

Merit: 5

I-CHAIN - The Revolution of Digital Advertising

My concern are
1. The dominance of bitcoin over the remaining altcoins is worrisome.. Irregardless of some having better usecase
2. The rate of failed projects in the crypto space is becoming too much and a deterrent to investors
3. When are we finally going to meet satoshi? Lol
4. It's been 10 years plus and the crypto space has not attained maturity in its response to Fake news and pumps.
5. Quantum technology is by the corner and no one is talking of how to fortify the biggest crypto in the land "Bitcoin" from the imminent threat

AmyBrown

newbie

Activity: 9

Merit: 2

The way it will be adapted by the mainstream. As in, will it be accepted and understood or will it forever remain more or less “underground”. Also, the security of Bitcoin itself. I still wonder about how easy or difficult it really would be to hack the accounts.

libert19

hero member

Activity: 2520

Merit: 952

You got to keep your wallet's security top notch, once someone takes hold of it there is no going back unlike banks where you can ask for support.

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: overthetop2011 on March 18, 2019, 10:18:19 PM

I just concern about the number of total crypto users. If the community keep growing ,the future is good.

how can you say ? Community such as forum dont really have a big impact on the price but they may only help a little because most forum memebers are also crypto users . there is a huge number of population outside the forum and we can only attract them if we spread awareness thru offline campaigns or by using the media .

These kind of concern has been discussed many times but until know there is no known action pertaining on this issue .

overthetop2011

hero member

Activity: 678

Merit: 500

I just concern about the number of total crypto users. If the community keep growing ,the future is good.

Sandus_Cryptolover

jr. member

Activity: 482

Merit: 3

Quote from: worldtraveller321 on November 23, 2018, 10:27:17 PM

Just like to ask everyone out there. What are your top 5 Concerns regarding more less Cryptocurrency? not just Bitcoin in General. But more in the whole area of Cryptocurrency?

This could from regulation? Adoption? uses?

What would be your main concerns and thoughts about cryptocurrency?

The challenges I've noticed with Cryptocurrency as a whole are:
1. Inadequate security on wallets and exchanges: A friend of mine got his stellar wallet hacked and lost over 60,000XLM within.
2. Huge amount of energy consumed while mining some cryprocurrency, though some bug miners have adopted Solar energy an alternative but not all miners can afford it.
3. High volatility often experienced in the market

mornabo

hero member

Activity: 1148

Merit: 504

Quote from: glenntalbot on November 24, 2018, 01:10:52 AM

The possibility of being hacked of course I do not know how hackers are doing it but I have read some news that they actually are doing Huh

I think offline saving money like a bank even has the opportunity to be stolen, the news is more much about theft of money in the bank and many modes of stealing in ATM or bank. I think the risk is even lower in cryptocurrency, you are independent man and you can maximize the security with your own efforts

Xenrise

sr. member

Activity: 672

Merit: 251

Quote from: worldtraveller321 on November 23, 2018, 10:27:17 PM

Just like to ask everyone out there. What are your top 5 Concerns regarding more less Cryptocurrency?

Here's my top 5 concern:

Hackers
Forgetting about the password of a wallet
SCAMS
Wrong address in sending money
Volatility

Quote from: worldtraveller321 on November 23, 2018, 10:27:17 PM

What would be your main concerns and thoughts about cryptocurrency?

The most concerning part of cryptocurrency at this time. Well, the instability of the market itself. I guess that the state of the market right now is really not great for trading right now especially day trading. I guess that this is just an obstacle for bitcoin to pass just like what it did many years ago.

kucritt

full member

Activity: 616

Merit: 100

the hacking possibility, we know that bitcoin is secure, but we know too about the technologies that increase their capability day by day, and maybe in the future bitcoin can be hacked easily, like hacking the blockchain is a easy task.

Daboy_Lyle

full member

Activity: 532

Merit: 148

There are a lot of things to be concern in the existence of the cryptocurrency. Everyone's number 1 concern is the price where in we can't predict it because its unstability. Price fall down and rise up without any warnings or notifications. Bitcoin is the leading coin in every exchanges that is why we should and it should be prioritized.

sandra_x

member

Activity: 574

Merit: 14

1. Wall Streets taking over bitcoin and turning it into some kind of monstrous assets, pushing it far away from the reach of retail users.
2. Movement of bitcoin from any of the wallets tagged as 'Satishi bitcoins'
3.Whales calling the shots on bitcoins
4. Discovery of some kind of super bug that could affect the bitcoint client critically
5. Stiffer governments restrictions on a global scale, making its convention to fiats much more difficult

kelz1

copper member

Activity: 140

Merit: 3

scammers and hackers are plaguing the blockchain and scaring off potential investors. Volatility can render a coin worthless within days, and regulation could ban it altogether

killat

member

Activity: 742

Merit: 21

Be the reason someone smiles today

Quote from: worldtraveller321 on November 23, 2018, 10:27:17 PM

Just like to ask everyone out there. What are your top 5 Concerns regarding more less Cryptocurrency? not just Bitcoin in General. But more in the whole area of Cryptocurrency?

This could from regulation? Adoption? uses?

What would be your main concerns and thoughts about cryptocurrency?

The main concern in crypto should be security. All others (adoptio rate, regulations etc) are less important as if you lost all your funds it doesn't matter that much if they were regulated or not 😊

Investing in a hardware wallet is the best option to keep your crypto safe.

tunapa

jr. member

Activity: 667

Merit: 1

One of my major concerns is about loss of coins that are sent to a wrong address. I think there should a solution to this that will make people recover their coins after doing one or two things and also about hacking there should be a lasting solution to it.

sunsilk

hero member

Activity: 3038

Merit: 634

It seems that everyone's concern is about the price and volatility. It shouldn't be your concern because bitcoin is moving to its own and instead of thinking of it as a concern, it's one of the best asset that bitcoin has.

Due to the volatility and having no stable value, this makes everyone feel not comfortable of investing their money on it. But if you are a risk taker and you sees opportunity on it, you're going to make good money with it.

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