1. Scammers
2. Lack of regulations
The reason why scammers roam freely is because there is no regulations in crypto space, the freedom of decentralization is why crypto space is a perfect haven for scammers
Topic: What is holding blockchain/crypto technology back? (Read 147 times)
Crypto is not regulated, it is filled with scammers which have no good intention, it is too expose to illicit and illegal activities, almost all the time people get scam and lose their money, the market is highly volatile,
All this can make adoption slow, business and government sectors want to do business in an organized regulated environment and not an environment not regulated why many scam activities are carried out, most of the project are fake with fake team.
All this can make adoption slow, business and government sectors want to do business in an organized regulated environment and not an environment not regulated why many scam activities are carried out, most of the project are fake with fake team.
I think things could've been gone better if people acted more responsibly. Its okay though and I think blockchain is growing at decent rate. There are still people who try to take advantage of it all and that can halt the growth but only in short term. Its evolving at much faster rate compare to few years ago.
Lack of trust is what's holding crypto back, scammers ruined everything when ICO started in 2017 and since then many fake projects start showing up, early investors got ruined and they quit, lack of investors is why crypto is still like this today
crypto technology creates a business field for some people, both for traders, bounty hunters, and investors, and this is one of the reasons for most people to maintain crypto technology until now because without certain advantages crypto technology will not develop as it is today.
It still feels like crypto and blockchain are lagging behind, honestly I expect this technology to have grown better, what and what do you think is holding this technology back?
Many factors affecting and holding it back such as regulations, governments, oligarches, and fudders. They dont want blockchain move further as they scared that this could ruin some major sectors that include an important role in the society and example of this is the bank. Its role has been traditionally used on money and finance related and once blockchain has been adopted by some of them, this could result to loss on clients that favors them. In major countries some banks have decided to implement blockchain and digital currency as payment or even sourcr of funding. What would be the scenario to those banks if ever this happened? We can see a global down fall and many of these oligarches relying to the banks and business sector. Many applied sectors have been assesing blockchain capability and its use cases so defintiely we can see a more comprehensive progress later on as people will realized that holding back this sector is an evil plan of those who cant accept the fact that is growing. It still feels like crypto and blockchain are lagging behind, honestly I expect this technology to have grown better, what and what do you think is holding this technology back?
I think the development of blockchain technology is quite fast. You can see market capitalization data that there are already more than 1000 coins, it indicates there is nothing wrong with the development of innovation in blockchain technology.What's wrong is that there is no adoption for mainstream use.
It still feels like crypto and blockchain are lagging behind, honestly I expect this technology to have grown better, what and what do you think is holding this technology back?
Too much scams, ponzi schemes, and scammers in the ecosystem, like the Faketoshi.
Definitely, those people are holding bitcoin back, as they are bad for bitcoin image.
Those bunch of useless people just looking for a easy money and quick rich scheme are also bad, as this has nothing to do with blobkchain technology or even bitcoin itself.
However, I think that bitcoin is not hold back, its adoption is growing. But maybe Bitcoin adoption will not be exactly what people expect.I believe bitcoin will be much more a reserve of value than used to by a coffee in starbucks.
As a reserve of value, people will be able to move money without boarders and protect people from developing countries against inflation and irresponsible governments.
I do agree with this. Those scams, hacks, ponzi schemes and highlighted by media made some negative impact on noncrypto users. But crypto adoption is still growing because those noncrypto users who educated themselves regarding the nature of crypto learned that crypto is not all about those negative things. A lot of benefits can be derived from using crypto if properly utilized. So it is only a matter of time to convert other non crypto users and see the true benefits of crypto or blockchain technology.
It still feels like crypto and blockchain are lagging behind, honestly I expect this technology to have grown better, what and what do you think is holding this technology back?
Too much scams, ponzi schemes, and scammers in the ecosystem, like the Faketoshi.
Definitely, those people are holding bitcoin back, as they are bad for bitcoin image.
Those bunch of useless people just looking for a easy money and quick rich scheme are also bad, as this has nothing to do with blobkchain technology or even bitcoin itself.
However, I think that bitcoin is not hold back, its adoption is growing. But maybe Bitcoin adoption will not be exactly what people expect.I believe bitcoin will be much more a reserve of value than used to by a coffee in starbucks.
As a reserve of value, people will be able to move money without boarders and protect people from developing countries against inflation and irresponsible governments.
Agree, crypto was booming around 2017~2018 but all these ICO scams and fake airdrop/bounties scared people away into becoming a part of the community as a whole.
Also, corporations who are not widely opening their eyes into implementing crypto/blockchain is slowing down our progress. Existing major enterprise solutions are neither distributed (Hyperledger + Corda) nor have a focus on privacy. There is little to no progress here and these solutions are essentially just glorified databases. Though there are industry-grade regulatory compliant blockchains that shifts by offering enterprises a real blockchain, while also using zero-knowledge technology to bring privacy to workflows that involve end-users
I think something more than scam is holding "real crypto" back. It isn't very difficult to build a really good and functional decentralized crypto ecosystem. If you build something safe, autonomous and self-sustaining, the authorities will find it hard to suppress and it will likely do very well. The problem for some is probably how to do this the right way.
I just entered the world of crypto, and I read a little history, big changes in crypto at the end of 2017, bitcoin scored the highest price at that time. but I still believe that there will be major changes later, and make the best solution for the development of crypto, just maybe waiting for the right time.
It still feels like crypto and blockchain are lagging behind, honestly I expect this technology to have grown better, what and what do you think is holding this technology back?
Too much scams, ponzi schemes, and scammers in the ecosystem, like the Faketoshi.
Definitely, those people are holding bitcoin back, as they are bad for bitcoin image.
Those bunch of useless people just looking for a easy money and quick rich scheme are also bad, as this has nothing to do with blobkchain technology or even bitcoin itself.
However, I think that bitcoin is not hold back, its adoption is growing. But maybe Bitcoin adoption will not be exactly what people expect.I believe bitcoin will be much more a reserve of value than used to by a coffee in starbucks.
As a reserve of value, people will be able to move money without boarders and protect people from developing countries against inflation and irresponsible governments.
It still feels like crypto and blockchain are lagging behind, honestly I expect this technology to have grown better, what and what do you think is holding this technology back?
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