what are the common challenges for bitcoin user? - page 2.

finzyoj

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Quote from: missyqt29 on May 12, 2018, 06:37:42 PM

Quote from: 007 SHIELD 007 on March 20, 2018, 05:56:04 AM

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 most common challenge I observe here in this community and experienced them also is over thinking. We can't help ourselves to relax in few times. The waiting is getting to our nerves yet we do our best to patiently hold on to investment.

Most common challenges are other people who do not have any knowledge of it say negative about bitcoin. Its not so sure/secure because sometimes you might lost your money in your wallet in an instant. And also other people do the panic selling so due to that the price drops continuously.

spadormie

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Common challenges for us bitcoiners are buy high sell low strat. I don't know how to conquer this one when i was a beginner. Hopefully I can now.

Casey7

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Quote from: jpoker272727 on May 07, 2018, 04:01:37 AM

Quote from: 007 SHIELD 007 on March 20, 2018, 05:56:04 AM

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?

Even though bitcoin is the oldest coin it has some challenges that still haven't been improved.
One challenge is that bitcoin isn't not yet being used world wide and without any third party service it is not possible to make any purchase in the restaurants or in any other market, instead we should use bitcoin debit cards which recently many of them have stopped working because of some government regulations.

There are so many challenges to bitcoin and altcoin holders in cryptocurrency era.
One of those thing is mention above, that is government regulation. Government can be a friend and sometime worst enemy for crypto. If the regulation forbid crypto, then its last time for crypto. All will be zero value if all government dont allow crypto being legal.

missyqt29

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Quote from: 007 SHIELD 007 on March 20, 2018, 05:56:04 AM

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 most common challenge I observe here in this community and experienced them also is over thinking. We can't help ourselves to relax in few times. The waiting is getting to our nerves yet we do our best to patiently hold on to investment.

liseff3

sr. member

Activity: 532

Merit: 255

Quote from: 007 SHIELD 007 on March 20, 2018, 05:56:04 AM

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?

If in review of some aspects, Bitcoin has problems among others, namely :
Not effective for small transactions.
Transactions on Bitcoin are not Instant we still need a third party (online wallet).
Scalability issues.
Security Issues because it's more easily stolen as the EU government says.
Prevention: Maybe this is the task of "Bitcoin Developers", because he may know better than us how to solve it.

Bitcoin's often misused by its users, namely :
Potentially large, the occurrence of money laundering scandals resulting from corruption.
Crime.
Avoiding taxes.
Prevention: Required KYC performance

Jlv

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I think the common challenges for bitcoin users is the acceptance to the public., Not all merchandise accept it and how the government regulate it to the people, they should be the first to understand it and then teached the people on how bitcoin helps and make progress in their life.

lemonscentedbreeze

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Quote from: 007 SHIELD 007 on March 20, 2018, 05:56:04 AM

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 common challenges that I face as I began to invest and use bitcoin is its volatility which greatly affects your view over your investments since you may see the market crash from time to time which can result to panic and doubt specially to newbies and I think the reason I overcome it is patience and trust in bitcoin's credibility as a currency and as an investment option.

wilburwilbur

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The challenges are the restrictions of bitcoin. Not every country accept bitcoin. China for example
Imagine you as a chinese. You want bitcoin but your government banned it
One more is ignorance, they underestimate volatility of bitcoin so they just put it all in btc then if btc will be in dip they will say "bitcoin dead" like whot?

Akichiva23

newbie

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The main challenge to a bitcoin user is the government regulations, this is one thing that keeps the users thinking all the time of what might happen as if regulations against BTC are made then it will inevitably fall

lehamay

newbie

Activity: 31

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The biggest challenge that Bitcoin will be facing is the regulation of governments. Because there are countries that don't want to about Bitcoin being a method of payment or make it legal currency. How we should we face those challenges? I don't think that Bitcoin will become a currency that is being widely used for buying goods because people will always think of Bitcoin as an investment instead of using it as a medium of payment and we have to accept that.

ogini

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Transfer confirmation, hackers,they are the major challenge with bitcoin holders,if these challenges can be met than there will be less fear of how to handle wallet.

anti76

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Quote from: dificanovi on May 12, 2018, 12:21:10 PM

the challenge often encountered by bitcoin is a very long price reduction. if there is a decrease in the price of bitcoin then all we have to do is hold the bitcoin we have until the bitcoin price recovered. we should be able to control our emotions if bitcoin prices decrease because we can get huge losses if we can not wait for the bitcoin prices to recover.

I agree with you, but this is not just a problem of bitcoin, but of all other coins.) Also I think that it's worth learning to determine the moment and selling your bitcoins and not to be in the red, then you will not have any problems)

Kildin11

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risk of losing their money invested in bitcoin. all other problems are secondary. I would single out the second problem: the lack of an innovative proposal.

charlotte04

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Quote from: 007 SHIELD 007 on March 20, 2018, 05:56:04 AM

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 for us people that are now inside the community of cryptocurrencies are those people that are not with cryptos, they will likely not support it until they realize that true use of cryptos.

Nitnit13

newbie

Activity: 126

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Quote from: Sandijoee on May 12, 2018, 01:05:11 PM

Quite a lot of challenges from bitcoin. Starting from investing the challenge must be brave and not afraid to lose if bitcoin down. And 1 more that I know the challenge of bitcoin is following a signature campaign.

Maybe it's true that you have to be brave when bitcoin prices are falling and keep bitcoin in the long run. And I hope the bitcoin users will withstand the fears that often haunt when bitcoin prices go down.

Kambal2000

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Activity: 700

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Quote from: Sandijoee on May 12, 2018, 01:05:11 PM

Quite a lot of challenges from bitcoin. Starting from investing the challenge must be brave and not afraid to lose if bitcoin down. And 1 more that I know the challenge of bitcoin is following a signature campaign.

We are lucky enough because we have found out bitcoin already established, imagine it during its first three years for sure a lot of people are making negative thoughts against it but look at how bitcoin has come so far right now where in a lot of opportunities it brought in the community.

Sandijoee

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Quite a lot of challenges from bitcoin. Starting from investing the challenge must be brave and not afraid to lose if bitcoin down. And 1 more that I know the challenge of bitcoin is following a signature campaign.

wasaisisisi

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The challenge for bitcoin users in my opinion is that you have to be ready for the future in bitcoin because the bitcoin price is never stable as I see it.

AjithBtc

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Quote from: dificanovi on May 12, 2018, 12:21:10 PM

the challenge often encountered by bitcoin is a very long price reduction. if there is a decrease in the price of bitcoin then all we have to do is hold the bitcoin we have until the bitcoin price recovered. we should be able to control our emotions if bitcoin prices decrease because we can get huge losses if we can not wait for the bitcoin prices to recover.

In simple terms user should have a clear understanding and next thing is the patience to hold the assets while the market is not good. Very few has the mentality to keep hold of it, while most of the users fear on experiencing the price fluctuations. Here newcomers were the most suffered people of all time.

Escan0r

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The challenge you must take for bitcoin users is that you must be prepared because bitcoin prices are often unstable and not predicted for the future.

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