Topic: what are the common challenges for bitcoin user? - page 17. (Read 2101 times)
As a bitcoin user I have faced many challenges of scalability most often when I want to send a bitcoin from a cross platform especially from blockchain wallet to paxful wallet due to delays, as a trader most of my fellow users always demands for a swift transaction which is hardly achieved without increasing the transaction fee.
Scalabilty. The problem of scalability arises due to Bitcoin’s nature of essentially having a limit on the number of transactions that can occur within a certain time frame. This limit is placed in order to prevent the blockchain size from spiralling out of control. As of now, the network has never hit this limit, but it will happen eventually if Bitcoin becomes a mainstream form of payment.
The common challenges of the BTC that I know is the price then the adoption in one country. Then if BTC will be legalized it will be used to pay online transactions.
1. What challenges are facing bitcoin?
I think the main challenge that Bitcoin is facing right now is the number of people who uses it. Since Bitcoin is not really widely used in the whole world. So, I think that it is the main challenge in the long run. Another is the reputation of the Bitcoin. Because of the issues, banning, and scams involved in Bitcoin, it is a problem to attract the upcoming investors.
2. How we can prevent it?
Well, we can't prevent it now since it is existing today, the best we can do is to have a solution to these problems.
3. How should we face those challenges?
I think that for the whole world to use Bitcoin, we need to establish the reputation of Bitcoin. And have a lot of improvements. Like, the fees and transaction speeds.
I think the main challenge that Bitcoin is facing right now is the number of people who uses it. Since Bitcoin is not really widely used in the whole world. So, I think that it is the main challenge in the long run. Another is the reputation of the Bitcoin. Because of the issues, banning, and scams involved in Bitcoin, it is a problem to attract the upcoming investors.
2. How we can prevent it?
Well, we can't prevent it now since it is existing today, the best we can do is to have a solution to these problems.
3. How should we face those challenges?
I think that for the whole world to use Bitcoin, we need to establish the reputation of Bitcoin. And have a lot of improvements. Like, the fees and transaction speeds.
the only problem at this time, I think so this is only a limitation in some countries, but this is not prolonged by people and there are ways to invest in bitcoin. and besides all these restrictions are just a matter of time, these two countries will not prohibit bitcoin in the meantime, as practically all over the world the crypto currency is already used, they will understand that this prohibition hinders the development of their economy, which will affect negatively ... so that this is in principle not so much a problem as a matter of time.
The biggest obstacle in front of Bitcoin is that some people make unknowable comments and misguided people. The first fruit of Blockchain, Bitcoin, has some features. These features can be seen as negative. People criticize Bitcoin for these features. But with these features many things will change. The days, the trading times, which finds months, will shorten. Unnecessary costs will come to an end. It has many features like this. We should know the digital money well. We should not give importance to unconscious interpretations. Do your own research. Your comments belong to you. Do not be influenced by others...
the common challenge we have for bitcoin users is that the bitcoin price drops suddenly but we still do not quit as a bitcoiners we do not give up. the singers do not win the winner does not shout that the bitcoiners are just patience
I think the challenge shown by bitcoin is whether bitcoin could be a solution in the future and another challenge is from the increasingly expensive shipping cost if the bitcoin price becomes expensive then the shipping cost also becomes very expensive.
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?
The main challenge on bitcoiners facing everyday is the fears of losing investments..or bitcoin and other altcoins would eradicate.We know that there were risk involve in investing in cryptos but we're all here to profit.To overcome this fears we must have strong hands to hold investments.We must be strategic and wise inorder to profit for our famikies brighter future. we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
i see the main challenge for bitcoin user is hacking of wallets that the major threat every bitcoin user face
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 the challenges that the bitcoin faces are safety of their account because there have a risk that your account can be hacked by someone. Bitcoin users should be careful all the time. And the up and down of bitcoin value is also a risk to every bitcoin users. we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
Here are my answers and opinions regarding your question.
1.What challenges are facing bitcoin?
- In my opinion, acceptance is one of the challenges that bitcoin is facing. Yes. there are many retailers, particularly online, through which consumers can pay for transactions in bitcoin, but the digital currency still isn't anywhere close to being widely accepted.
Next is, volatility. I believe the price is going to need to become much more stable.
And third, Tax issues. Bitcoin and other digital currencies is considered to be "intangible property," which means they're subject to capital gains taxes. Which we all know, it is one the issue of every government worldwide.
2. How we can prevent it?
- To prevent it. we, the current bitcoin users and community must promote, support and continue to prove that bitcoin has a high potential as a digital currency and has good usage among the community and it will benefit all people.
3. how we should face those challenges?
- As I have mentioned above, we must continue to support and promote bitcoin and other cryptocurrency for its complete acceptance.
1.What challenges are facing bitcoin?
- In my opinion, acceptance is one of the challenges that bitcoin is facing. Yes. there are many retailers, particularly online, through which consumers can pay for transactions in bitcoin, but the digital currency still isn't anywhere close to being widely accepted.
Next is, volatility. I believe the price is going to need to become much more stable.
And third, Tax issues. Bitcoin and other digital currencies is considered to be "intangible property," which means they're subject to capital gains taxes. Which we all know, it is one the issue of every government worldwide.
2. How we can prevent it?
- To prevent it. we, the current bitcoin users and community must promote, support and continue to prove that bitcoin has a high potential as a digital currency and has good usage among the community and it will benefit all people.
3. how we should face those challenges?
- As I have mentioned above, we must continue to support and promote bitcoin and other cryptocurrency for its complete acceptance.
The challenges bitcoin users faces include
1. Hacking a payment gateway
2. User address error
3. Loss of a wallet file
4. Insecure ICOs
1. Hacking a payment gateway
2. User address error
3. Loss of a wallet file
4. Insecure ICOs
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?
I think the only challenge facing to all bitcoin users is that, the ups and downs of the price in which we cant help about it and the only thing we can do is to take a RISK, we can face and prevent it by accepting the fact and thats the reality ,dont lost hope and not giving up to take the challenge.
1.what challenges are facing bitcoin? - fully adoption i guess? because if there will be no progress bitcoin will eventually going to fade the hype it has,and most of the investors will soon lose their interest to bitcoin and cryptocurrencies
2. how we can prevent it? - spreading good words to others,help the others to start adopting the cryptocurrencies,so that there will be more people that are going to be educated.
3. how we should face those challenges? - support bitcoin and other cryptocurrencies so that the fully adoption will be much easier .
2. how we can prevent it? - spreading good words to others,help the others to start adopting the cryptocurrencies,so that there will be more people that are going to be educated.
3. how we should face those challenges? - support bitcoin and other cryptocurrencies so that the fully adoption will be much easier .
I agree with all of these answers because until now, we have a big problem to spread bitcoin in everywhere because people still don't trust with bitcoin and they only think that bitcoin will finally scam them. although we are giving an explanation about bitcoin and we tell them that bitcoin will be our new way to search a new income, they still don't believe in bitcoin and only a few people that open their eyes to accept bitcoin as a new way. but soon, after the price increase higher, I am sure that many people will realize about this and they will come to the bitcoin and do like what we did so far and bitcoin will be worldwide.
I think many of the challenges / problems we face when we use bitcoins. I am sure that there is a lack of awareness among the general public and Bitcoin users. In some cases most people believe that it is illegal to use Bitcoin or it is a kind of scam or MLM scheme and the guise of other scams. In other cases, we know what happened recently after the rally, there was a wave of panic sales in the market and most newcomers experienced it.
Actually We should build more understanding and raise awareness about Bitcoin and crypto on the ground to instill the habit of using it as a payment system. I believe that we must work on a priority on our individual level. All of these things we have to build but need a process.
Actually We should build more understanding and raise awareness about Bitcoin and crypto on the ground to instill the habit of using it as a payment system. I believe that we must work on a priority on our individual level. All of these things we have to build but need a process.
1.what challenges are facing bitcoin? - fully adoption i guess? because if there will be no progress bitcoin will eventually going to fade the hype it has,and most of the investors will soon lose their interest to bitcoin and cryptocurrencies
2. how we can prevent it? - spreading good words to others,help the others to start adopting the cryptocurrencies,so that there will be more people that are going to be educated.
3. how we should face those challenges? - support bitcoin and other cryptocurrencies so that the fully adoption will be much easier .
2. how we can prevent it? - spreading good words to others,help the others to start adopting the cryptocurrencies,so that there will be more people that are going to be educated.
3. how we should face those challenges? - support bitcoin and other cryptocurrencies so that the fully adoption will be much easier .
High volatility, high fees and slowness make Bitcoin challenging for me. Lightning network has potential to improve coin and make it much better for everyday use.
The biggest challenge should be the growth of the encrypted community. We all know that the price of bitcoin has changed a lot more than a few years ago, and many people say there is a huge bubble in bitcoin now, and if the community does not continue to expand but often appear FUD, it can not support the progress of bitcoin.
The most common challenges for a new user is finding out which wallet to use and how to use. And the most common fear for them is what if they send their bitcoins to the wrong address or lose their private keys. I think if a general tutorial was made for newbies and stickied than it would be great.
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