Topic: what are the common challenges for bitcoin user? - page 11. (Read 2086 times)
For me the common challenge of a investor or a user in bitcoin is would you hold it or you will sell it. Its pretty hard to decide on that especially when you are on a panic.
OK... I made a list of the common issues. Here it is:
1. Hacking of wallets
2. Lack of legal clarity
3. Tax complications
4. Volatility
5. Transaction fee uncertainity
1. Hacking of wallets
2. Lack of legal clarity
3. Tax complications
4. Volatility
5. Transaction fee uncertainity
indeed sir. these exactly are the problems that we should pay our attention. these 5 are so simple when you look at them but very huge effect if one of these happen to you, we must be very careful and take good care of our accounts.
As we all know bitcoin has come long way in the eight or so years its been in existence, but their's still long way to go before the digital currency becomes a widely used method of paying for goods and services.
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
I think some of the challenges that a bitcoin user must keep in mind and must overcome is facing the truth that bitcoin price will never stay the same. Because it will sometimes rises and falls down its value from time to time. And also, bitcoin can be earned easily but then is not yet considered as a sure money. And the only way to face these challenges are to research more about bitcoin to gain more knowledge about it. we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
As we all know bitcoin has come long way in the eight or so years its been in existence, but their's still long way to go before the digital currency becomes a widely used method of paying for goods and services.
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
the challenges for me are the people who panics a lot. their panic selling highly affects the price of bitcoin. they sell one at a time and it's really not helping the price of btc to go up. another one is the lack of knowledge, they engage themselves into something they are unsure of.
I would say that the common challenges are lock of knowledge and panic buying or selling, they should know the market, follow the trend, dont sell if the value is less than the amount that you bought it, right timing is the key. one more thing dont put your money in bitcoin if you will need it in due time.
Bitcoin is a revolutionary movement that has offered much benefits to the financial sector and other sectors, however, it is still not fully understood by most people especially the typical traditional people who are not much vexed with the issues of the internet.
Also, in areas where there is no internet access, one cannot access Bitcoin because it works for online patronages.
Anyway, Bitcoin is still in the beta version so we hope to see much developments integrated into its usage especially in the offline mode.
Also, in areas where there is no internet access, one cannot access Bitcoin because it works for online patronages.
Anyway, Bitcoin is still in the beta version so we hope to see much developments integrated into its usage especially in the offline mode.
fluctuations
we can anticipate it by directly selling all bitcoin when the price rises, or at least already exceeds the purchase price. after all, just start investing for new books again but with the amount that not too much. anticipate if prices fall after an increase, and can hold for long term.
we can anticipate it by directly selling all bitcoin when the price rises, or at least already exceeds the purchase price. after all, just start investing for new books again but with the amount that not too much. anticipate if prices fall after an increase, and can hold for long term.
usually they do not know the usefulness of bitcoin
but they only know the price of bitcoin
they do not know that blockchain technology is so sophisticated, and bitcoin itself is the most desirable cryptocurrency in the whole universe
but they only know the price of bitcoin
they do not know that blockchain technology is so sophisticated, and bitcoin itself is the most desirable cryptocurrency in the whole universe
I think the only common challenges that I see in bitcoin is high transaction fee and price stability of it. In my experience that is the only common challenges I faced is this two have mention above.
I agree to you. That are some challenge that hard to address and need to avoid in bitcoin. But the question is how it will address and who is the responsible person will address the common challenges experienced in bitcoin.
OK... I made a list of the common issues. Here it is:
1. Hacking of wallets
2. Lack of legal clarity
3. Tax complications
4. Volatility
5. Transaction fee uncertainity
1. Hacking of wallets
2. Lack of legal clarity
3. Tax complications
4. Volatility
5. Transaction fee uncertainity
I agree to you. That are some challenge that hard to address and need to avoid in bitcoin. But the question is how it will address and who is the responsible person will address the common challenges experienced in bitcoin.
As we all know bitcoin has come long way in the eight or so years its been in existence, but their's still long way to go before the digital currency becomes a widely used method of paying for goods and services.
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
As what I can see the common problem or challenge that those people who uses bitcoin are facing was it's price that is dropping down or decreasing every time and those scammers that uses bitcoin in their illegal doings. At the first place, we should be knowledgeable, wise and responsible for us to be aware on the things that happens in bitcoin world, and that's the easiest way for us to prevent this kind of challenges. We also need to be hardworking and we should have a lot of patience for us to survive in this kind of situation. Lastly, we should be brave all the time especially when we are taking risky things so we do not repent at last. we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
The challenges for the users of bitcoin is the emotion. I think the emotion is the no. 1 enemy of a traders and thats how they loss money because of that. They will make greedy to sell for small amount of profit. Some users scared in news so they sell their holdings they dont know that is a fake news.
OK... I made a list of the common issues. Here it is:
1. Hacking of wallets
2. Lack of legal clarity
3. Tax complications
4. Volatility
5. Transaction fee uncertainity
1. Hacking of wallets
2. Lack of legal clarity
3. Tax complications
4. Volatility
5. Transaction fee uncertainity
For me I guess the common challenges we are facing in bitcoin is the dropping of its price. Sometimes we buy bitcoin at high price, but we don't know in the future the price may fall. So we will loose our capital.
The challenge for bitcoin users is the risk they have to accept. Because we do not know when bitcoin will fall but if you are afraid first and do not take the risk is better you do not have to use bitcoin. Because it will only reduce the price of bitcoin in the market. So you have to be brave in taking the risks that are on the bitcoin or it's a loss or whatever.
There are several problems, but now the most important of them are solved. These are fast transactions and cheap commissions. And States will soon be forced to accept and legalize cryptocurrencies. It's a matter of time.
I don't think most problems of Bitcoin are solved at all, the biggest one is the legalize cryptocurrency isn't solved yet.It's still in the prohibition list of around 80 countries in the world and it's likely a big barrier that stop Bitcoin coming to the world.
Base on my own experience the challenges that I already encounter are joining a scam ICO I have already scammed 2 times but I still don't loose hope I joined again and again to get more experience and profit in it.
There are several problems, but now the most important of them are solved. These are fast transactions and cheap commissions. And States will soon be forced to accept and legalize cryptocurrencies. It's a matter of time.
Bitcoin has come a long way in the eight or so years it's been in existence, but there's still a long way to go before the digital currency becomes a widely used method of paying for goods and services.. Ease of use... Potential for theft ...Reputation for criminal activity.. Tax issues .... are some of the biggest challenges facing mainstream adoption of bitcoin
To date, the global problem of Bitcoin and the whole crypto identifying not people's trust and rough regulatory attempts.
For now, the only challenge besides the battle with government policies is bitcoin’s total dependence on internet. Internet over the years is becoming accessible and affordable but what if there is a problem for a whole day, does it mean know transactions?
The challenge that I am encountering was how I handle my emotion especially when there is a big pump in the price as I am attempting to cash out what I do have but I am so thankful that at least until now I am getting stronger and holding the funds that I have. Jump to: