what are the common challenges for bitcoin user? - page 6.

rickyNmorty

member

Activity: 451

Merit: 15

Investor

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 nuisances bitcoin users, investors abd the likes often experience are the ones that are affiliated with bitcoin's instability when we talk about its value. The uncontrollable abd rapid ups and downs to bitcoin's price has made a lot of investors quit because of the amount of losses they ghave received. Although there is no possible way as if now to atleast alleviate the high volatility of bitcoin, there are ways which we could exercise in order to minimize the damages it can inflict on our investments.

ward_38coin

newbie

Activity: 4

Merit: 0

I think the biggest problem is actually understanding bitcoin as a whole and the crypto world.

fluctuations

newbie

Activity: 183

Merit: 0

The biggest challenge we can see is the risk of investing in bitcoins in markets, prices. And many people do not know the legal regulations for this currency, not strict control so the bitcoin is quite complicated in the market so it may be related to criminalization.

Intersan

hero member

Activity: 641

Merit: 505

Quote from: Robinbitcoin44 on May 09, 2018, 05:52:28 AM

The main problems with bitcoin is that its hard to understand for most people, need to have cyber security knowledge to transact it and its prone to orchestrated attacks.

The common challenges with bitcoin are the value of cryptocurrency is not stable, it fluctuates either too high or too low. We have to be brave enough not to panic when the price is dumping.
Also, it is not easy to secure the money you earn from bitcoin. Like what happened to my two friends when they are about to transact their savings in bitcoin but its already gone. Their savings went for nothing.

22brandi22

newbie

Activity: 2

Merit: 0

I think the biggest challenge is being prone to orchestrated attacks.. There is really nothing that can prevent this.

joebrook

sr. member

Activity: 644

Merit: 259

CryptoTalk.Org - Get Paid for every Post!

FUD and the rush to sell Bitcoins is one of the challenges besetting the current bitcoin community. Because it’s one of the main reasons why the value of Bitcoins keeps on going down almost all the time.

mia khalifa

full member

Activity: 476

Merit: 100

I think the biggest and biggest challenge of bitcoin is from the total supply and development of where bitcoin can be used for payment methods, just imagine the limited supply of bitcoin makes the price extremely unstable and horrible.

princeyeboah

member

Activity: 714

Merit: 14

I still don't buy into the idea of others that the volatility of Bitcoin as a challenge. It is within this same volatility that the price gain heights on the coin graph for investors and holders to make profits.
Talking about the challenge, i think we should consider how the world outside bitcoin will come into terms with the whole concept of Bitcoin and how to remove FUD in the people.

jones stone2505

newbie

Activity: 110

Merit: 0

The biggest problem is the constant change in cost. And a sharp drop and the same sharp rise up. This is an excuse for panicking many people. To combat this problem, it is necessary to strengthen capitalization

alex lionel

newbie

Activity: 107

Merit: 0

I think guessing about the price,i think many investor had experience it,and im sure that we can avoid it by researching about reading the graph,it might be helful.as of now the price of bitcoin was quickly moving.

rumexx

full member

Activity: 476

Merit: 100

The major challenges with bitcoin is scalability, confirmation timing and fees. There have been a lot of forks that had been done to mitigate this problems of which new altcoins like BCH and BTG are the by products. The issues with confirmation time is really killing and something must have to be done.

Robinbitcoin44

newbie

Activity: 2

Merit: 0

The main problems with bitcoin is that its hard to understand for most people, need to have cyber security knowledge to transact it and its prone to orchestrated attacks.

kingofrogues07

member

Activity: 140

Merit: 13

According to me the common challenge for bitcoin users is having fear to invest in bitcoin because of it's volatility and not stable. Everytime bitcoin price rapidly change with out our knowing,that's the market in crypto world.

Rubble898zaitO

newbie

Activity: 210

Merit: 0

The biggest challenges of Bitcoin users are as follows:
Governments who doesn't fully undertand Bitcoin, how it works and what to brings to the table but then work against it. They are close minded and would not even listen to what they can get out of Bitcoin. They consider Bitcoin as a threat to them to banks and to the world economy. as well as they are using their power and money to use mass media to create FUDs and false news about Bitcoin, focus on its weaknesses and make it look bad so people would avoid it. There are already some governmenst who think otherwise and are very adoptive and open to Bitcoin but still those who are not so friendly remains the biggest challenge of Bitcoin users, because they want Bitcoin down and they will stop at nothing to do that, fortunately the Bitcoin community sis growing and we are helping Bitcoin resist the burden of the actions againts it. It is fighting and is surviving all the challenges.

olatslodi

member

Activity: 196

Merit: 10

For me the challenges everyday is the security. It is hard to make decision also because the system is decentralized. Even the most patient investors tends to panic sometimes. Another common challenge faced by everyone is how much transaction fees to pay so that they don't end up paying more while also getting the transaction confirmed faster.

keanne_isaac

full member

Activity: 392

Merit: 103

www.daxico.com

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?

for me major challenges bitcoin currently facing is acceptance of every government as we all know lot of countries are still no considered bitcoin as an alternative mode of online payment. we can prevent this by continuous undying support snd prove that bitcoin in blockhain platform can deliver transaction securely and fast compared than common bank to bsnk transaction. we can face the challenges buy ongoing upgrade and develop more secured, effecient and fast applicstin using decentralized blockchain technology.

Risktaker31

full member

Activity: 420

Merit: 134

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?

What challenges are facing bitcoin ?:
the rise and dump of its value because of uncertainty and market crashes, regulations and other thing affecting bitcoin market.

How can we prevent it?
We can't prevent it, We should wait the rise of bitcoin price and sell our tokens or btc in that times. Because bitcoins value is highly volatile.

How should we face those challenges?
brace yourself have a guts to do the risk and then embrace the everchanging price of bitcoin and alt coins.

Mr.Dick

member

Activity: 207

Merit: 20

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 guess one of the main challenges will be the fluctuating btc market, on the one handy side it is a good thing btc i increasing value (even if it can loose it again), but to make it a real currency, the value must get more stable, maybe in near future when bitcoin is more common to the world.

mekusproj

newbie

Activity: 56

Merit: 0

Bitcoin is an incredibly volatile currency since its inception.
Bitcoin has become extremely popular among speculators who buy bitcoin hoping the price will continue to rise, but it isn't helping to fuel bitcoin's popularity as a currency. For example, if I plan to go on vacation in two weeks and want to set aside $1,000 in spending money, if I choose to store this money in bitcoin, its buying power could climb or fall significantly by the time I leave. Most people simply don't want to deal with that level of currency risk.
Bitcoin has to achieve some level of stability before it can be adopted as a mainstream currency.

BelieveInBTC

member

Activity: 280

Merit: 15

BookiePro.Fun - The World's Betting Exchange

I think that the biggest issue is that many new users don't know much about wallets and keeping their bitcoins secure. Bitcoin became easy to use. You don't have to watch many tutorials to use it. There are many new Bitcoin exchanges which allow you to buy bitcoin with a credit card. You can also use a credit card which you can fill with bitcoins and use it like a normal one. Its still far from what Bitcoin wants to achieve but it's a temporary thing.

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