Topic: What do you think might be holding back Bitcoin's success? - page 3. (Read 4084 times)
I think what's holding back bitcoins success is us, yes us. we tend to shift back to fiat when we see a fluctuation in price. and selling it is like abandoning bitcoin.
World adoption could change the success of bitcoin.
The more people there are adapting to bitcoin
the more demand there will be.
The more people there are adapting to bitcoin
the more demand there will be.
Holding back Bitcoin's success i think it is the block size which is small right now, confirmation time, and being not allowed in some countries to be used bitcoin.
That's true, and I think that lack of knowledge is also playing an important part in lacking the success of bitcoins as people are not aware about the bitcoins and hesitate in trying something new and yes the people who are already into bitcoins are worried about the delay in confirmation time.
I used to think the conflict within the community will hold back the bitcoin. But not any more. The community will find consensus, although it might take some time.
Holding back Bitcoin's success i think it is the block size which is small right now, confirmation time, and being not allowed in some countries to be used bitcoin.
The comparison has been made before that Bitcoin is like the internet - in its infancy the internet was looked at as fringe and a great place to play solitare. Many said the internet would not be a factor. Bitcoin is similar at this time, still associated with illegal activities by mainstream.
My answer is press. 2015 was an improvement and we should see that continue.
My answer is press. 2015 was an improvement and we should see that continue.
Fiat's ease of use and stability, this is the one and only reason that is stifling Bitcoin's progress.
Bitcoin is not accepted which causes its volatility; which decreases its acceptance which causes more volatility.
Bitcoin is not accepted which causes its volatility; which decreases its acceptance which causes more volatility.
Still bitcoin is widely used by all people around the world. The volatility is highly preferred by many traders to make use of it by trading. I don’t think anything can stop bitcoin from succeed. Bitcoin have also caused lots of financial revolutions.
Also bitcoin communities are likely pushing it for succeeding. When the people are more supportive to the bitcoin developments, it will grow further on this kind of cooperation, I don’t think bitcoin will never slide from the point of succeeding.
Fiat's ease of use and stability, this is the one and only reason that is stifling Bitcoin's progress.
Bitcoin is not accepted which causes its volatility; which decreases its acceptance which causes more volatility.
Bitcoin is not accepted which causes its volatility; which decreases its acceptance which causes more volatility.
Still bitcoin is widely used by all people around the world. The volatility is highly preferred by many traders to make use of it by trading. I don’t think anything can stop bitcoin from succeed. Bitcoin have also caused lots of financial revolutions.
Fiat's ease of use and stability, this is the one and only reason that is stifling Bitcoin's progress.
Bitcoin is not accepted which causes its volatility; which decreases its acceptance which causes more volatility.
Bitcoin is not accepted which causes its volatility; which decreases its acceptance which causes more volatility.
Fiat may be considered stable when you look at it on a daily basis. A dollar yesterday is worth the same as a dollar today. A dollar in 1915 is definitely not worth the same in 2016.
And its making everything a hell of a lot more expensive. Silver coins from the Royal Canadian Mint are nearly $25 now.
Fiat's ease of use and stability, this is the one and only reason that is stifling Bitcoin's progress.
Bitcoin is not accepted which causes its volatility; which decreases its acceptance which causes more volatility.
Bitcoin is not accepted which causes its volatility; which decreases its acceptance which causes more volatility.
Fiat may be considered stable when you look at it on a daily basis. A dollar yesterday is worth the same as a dollar today. A dollar in 1915 is definitely not worth the same in 2016.
Bitcoin is a money and money is a means to buy something.You can buy guns,weapons etc or food,clothes and shelter with money.You cant say money is bad because someone buys weapons with it or just because some criminal orv terrorist use it for buying weapon or drug.Bitcoin has many benefits also
Fiat's ease of use and stability, this is the one and only reason that is stifling Bitcoin's progress.
Bitcoin is not accepted which causes its volatility; which decreases its acceptance which causes more volatility.
Bitcoin is not accepted which causes its volatility; which decreases its acceptance which causes more volatility.
It's quite hard to wrap your head around cryptocurrencies, it's a fairly new concept, it's not globally recognised.
I would add to this poor bitcoin privacy.
Bitcoin core dev, Greg Maxwell, says that many companies are scared of bitcoin, because if they used it, all their transactions would be made public.
https://youtu.be/9pyVvq-vrrM?t=2286
This is not what usually companies, and individuals, want.
Bitcoin core dev, Greg Maxwell, says that many companies are scared of bitcoin, because if they used it, all their transactions would be made public.
https://youtu.be/9pyVvq-vrrM?t=2286
This is not what usually companies, and individuals, want.
True. Lots of people talk about the anonymous part of bitcoin, but that's fucking wrong. Once the adress you used is known, every transaction can be followed. There is no bank secret in that!
I am pretty sure that this can be overcome by using a middle man solution like BitPay or maybe some bank will start doing that for some fee. I could also think about an adress mixer but that might not be legal...
Furthermore, I think the big ununity in the crypto world itself is not the best publicity to the outside and think also about the scams the alt coiners produce - also some deep bitcoiners are getting confused sometimes about alts and loose their FIAT or even BTC there , but should know better....
Whole point of bitcoin is not to use any third party or middle man. For two reasons, imo. First, with fiat you already have middle man for transactions, which are banks. Hole point of bitcoin is to avoid it. Second, blacklist. A thid party can control/censor your transactions, and again point of bitcoin is to avoid it.
And speaking of BitPay. BitPay is not a very good example in this case. They are already censoring and blacklisting transactions:
https://www.reddit.com/r/Bitcoin/comments/3mea6b/bitpay_is_blacklisting_certain_bitcoins_rejecting
And what is means, let me quote Andreas Antonopoulos:
Quote
Blacklists are inherently evil, they seed control to the author of the blacklist and that control is absolute. This is one of the fundamentals problems we have in our banking system today.
https://youtu.be/ak1iojpiHpM?t=2039
Less Social Awareness.That being said,technological influences could be another one.The old generation will surely be not open to such ideas of online currencies as they would prefer fiat or at the best credit cards.They are still insecure,technically challenged I must say to get adapted to bitcoins.
I would add to this poor bitcoin privacy.
Bitcoin core dev, Greg Maxwell, says that many companies are scared of bitcoin, because if they used it, all their transactions would be made public.
https://youtu.be/9pyVvq-vrrM?t=2286
This is not what usually companies, and individuals, want.
Bitcoin core dev, Greg Maxwell, says that many companies are scared of bitcoin, because if they used it, all their transactions would be made public.
https://youtu.be/9pyVvq-vrrM?t=2286
This is not what usually companies, and individuals, want.
True. Lots of people talk about the anonymous part of bitcoin, but that's fucking wrong. Once the adress you used is known, every transaction can be followed. There is no bank secret in that!
yes sure, but how you connect that address to his real owner, how can you know how many someone spent? that is the real anonimous part about bitcoin
yea but its hard to associete, i send 1 btc from address A to B, you have no way of proving that address B is mine, i dont think even in court such evidence is accepted. Because it's very shallow.
You need more proof.
I would add to this poor bitcoin privacy.
Bitcoin core dev, Greg Maxwell, says that many companies are scared of bitcoin, because if they used it, all their transactions would be made public.
https://youtu.be/9pyVvq-vrrM?t=2286
This is not what usually companies, and individuals, want.
Bitcoin core dev, Greg Maxwell, says that many companies are scared of bitcoin, because if they used it, all their transactions would be made public.
https://youtu.be/9pyVvq-vrrM?t=2286
This is not what usually companies, and individuals, want.
True. Lots of people talk about the anonymous part of bitcoin, but that's fucking wrong. Once the adress you used is known, every transaction can be followed. There is no bank secret in that!
yes sure, but how you connect that address to his real owner, how can you know how many someone spent? that is the real anonymity part about bitcoin
Price volatility is the biggest problem. We do not know what the price will be next week. We cannot use it as investment.
We have to be confident first about the Bitcoins price volatility, because we don't know the future but still businesses are running with hopes for any things. So I personnely feel that if we hold back some Bitcoins will sure give success.No, bitcoin is a kind of currency lot’s of people are really love to use. Even it's a volatile currency and nobody knows what the price will be tomorrow, still people are investing their money into bitcoin ecosystem. Most of the people thinks that bitcoin is the future of world currency. This hope is the real backing for bitcoin system.
At this point is a way bigger risk having your money on stocks than having your money on Bitcoin which translates on the Bitcoin price going up everytime there is a quake happening in the stock market, as we have seen continuously since the chinese capital controls (or even going back to the cyprus days) and every time this happens again, it will only get bigger as more people are aware of BTC's features.
I would add to this poor bitcoin privacy.
Bitcoin core dev, Greg Maxwell, says that many companies are scared of bitcoin, because if they used it, all their transactions would be made public.
https://youtu.be/9pyVvq-vrrM?t=2286
This is not what usually companies, and individuals, want.
Bitcoin core dev, Greg Maxwell, says that many companies are scared of bitcoin, because if they used it, all their transactions would be made public.
https://youtu.be/9pyVvq-vrrM?t=2286
This is not what usually companies, and individuals, want.
True. Lots of people talk about the anonymous part of bitcoin, but that's fucking wrong. Once the adress you used is known, every transaction can be followed. There is no bank secret in that!
I am pretty sure that this can be overcome by using a middle man solution like BitPay or maybe some bank will start doing that for some fee. I could also think about an adress mixer but that might not be legal...
Furthermore, I think the big ununity in the crypto world itself is not the best publicity to the outside and think also about the scams the alt coiners produce - also some deep bitcoiners are getting confused sometimes about alts and loose their FIAT or even BTC there , but should know better....
Yes, of course. if this time you hold bitcoin, you will profit in the future if the price bitcoin be 5 digits as $ 10,000 for 1 BTC, if it happens you will surely love hold bitcoin
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