Topic: what are the common challenges for bitcoin user? - page 9. (Read 2085 times)
Every bitcoin user has faced the price wherein it goes up or down so rapidly every single day. It may gives us headache to think too much when is the good time to trade or just hold.
Well, since bitcoin is gaining too high value in the market, it tends to banned in some countries because of imbalance in the economy. It will be hard to transact since there are some regulation that prohibits its existence.
First is that it is risky to go into. At times, it goes down but sometimes it bounces back. None of us know what will happen in this cryptocurrency and I think that is the biggest challenge every btc user faces.
In every investing have risk but if we think that risk we cannot be successful in the future. The challenge of bitcoin is the value we can't predict when it down or up but all investors are optimistic that bitcoin will win and rise and brings happiness to all his investors.
I think instability is the major challenge here, because unlike the regular bank you can just wake up one morning and find out your supposed 1000 BTC has reduced to 100 BTC, when you must have made plans for it.
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?
In that almost a decade of existence, bitcoin has already faced and eventually survived numbers of challenges, including attacks from the government who claimed that bitcoin is a treat to the economy. Bitcoin has become a target of prejudice and fake news, People who are greedy tried to use bitcoin to persuade other people to get money from them illegally. They are riding the popularity of bitcoin to fool other people. Let us be more aware of the true purpose of bitcoin and how it actually works. In a way, it will protect the entire system including us who are into the bitcoin community. we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
Some challenges you have to face the fact that Bitcoin prices will never remain the same and will surely rise and fall from time to time. Another is that Bitcoin can be obtained easily but not considered money. Over time more and more people are finding out about Bitcoin and more of them are starting to use it. some traders and some users and they all make the ecosystem grow.
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?
These are the list of common challenges that bitcoin may encounter:we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
1. Low security level, scammers are everywhere that's why it is very risky to invest a huge money in bitcoin.
2. Slow transaction and high charging fees
3. Use it for illegal doingds
4. Unpredictable price
The only way to prevent and face those challenges are we should be more careful on what we are doing and accept yge fact that bitcoin is too risky.
I think instability is the major challenge here, because you can just wake up one morning to find out that your 100 BTC has fallen down to 10 BTC, when you must have made plans for it.
If I choose to store 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. Before bitcoin achieves mainstream adoption as a currency, I believe the price is going to need to become much more stable.
For me , it is its ambiguity of the what it is exactly. It started more like it was a tradeable tool but has become an investment tool mostly. People i think wait for it to be used totally available as tradeable option.
The most common challenge for new users is getting to know the various things of Bitcoin like which wallet to use, which trustable exchange to buy bitcoins from, how to receive bitcoins, etc. 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.
One of challenges that bitcoin facing right now is the acceptance of whole that cryptocurrency will be the future, it needs to be properly introduce to people, companies, governments, even countries.
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?
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.
I think instability is the major challenge here, because you can just wake up one morning to find out that your 100 BTC has fallen down to 10 BTC, when you must have made plans for it.
Security measures exist that make bitcoin virtually impossible to steal, but taking advantage of them involves a somewhat complex knowledge of how bitcoin works and can often require significantly more effort on the part of the user. While true bitcoin enthusiasts don't mind taking extra security measures, this is an example of the ease-of-use challenge I discussed earlier. And with online bitcoin wallets, there's always some chance that the currency could be stolen. It's happened before and could certainly happen again.
To be fair, it has gotten much easier to buy, sell, and use bitcoin over the past several years, but it still isn't user-friendly enough to encourage mainstream adoption. Currently, if the average person wants to buy bitcoin, he or she needs to open an account at a bitcoin exchange such as Coinbase, link a checking account (or credit card, which generally comes with a higher fee), and in many cases wait several days for the transaction to clear. I consider myself knowledgeable about bitcoin, and I can buy virtually any product online with greater ease than I could buy, say, $200 in bitcoin.
The only challenge that I can think of which really matters is adoption. and that is not something you can fix, it is something that is fixed on its own with time.
As time goes by more people find out about bitcoin and more of them start using it. some are merchants and some are users and they all make the ecosystem grow.
As time goes by more people find out about bitcoin and more of them start using it. some are merchants and some are users and they all make the ecosystem grow.
I think the most common challenges for bitcoin users is a time..
It is very hard to manage your time when you are in bitcoin industry because we all know that majority of bitcoin users
Are having different responsibilities in life .. So we must have a good managing of time.
It is very hard to manage your time when you are in bitcoin industry because we all know that majority of bitcoin users
Are having different responsibilities in life .. So we must have a good managing of time.
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 of bitcoin user for me is his widespeard acceptance, because we all know that bitcoin is not us freely accepted all over the world, only in several country bitcoin is accepted. I think if it will be legal, i think people will accept it already. we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
maybe the most challenges for bitcoin user that need to face is when the price is moving higher and lower with fast and they cannot control their emotion to see the price. many of us have this problem and only push them to be a panic reaction but if we can handle our emotion during our trading time, I think we can stay calm without doing rush action. I am sure that in the future, there will be many of bad news that will influence many people especially with new trader which don't have much knowledge in the cryptocurrency and they can get the bad effect of this and we need to always control the emotion in the market.
First common factor there is the market sudden fluctuation that needs enough patience to hodl and stay positive that the market will be fine at the end of the day and that every investment will end up positive profit. Nowadays it has a very slow movement to recovery from the extreme dropped in the first quarter of the year. So for me the biggest challenge there is the patience of hodling, before you see the real profit.
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