there are a lot of risks that bitcoin is facing.
the most important one is losing the decentralization that it has because it is one of the main attributes of bitcoin and it needs to keep it in order to stay strong.
the other important one which is often forgotten these days and sometimes even by some bitcoin developers! is that bitcoin should be able to work as a currency and be able to compete with them at the same time. this requires reasonable fees and that requires scaling. sadly some people are only considering bitcoin as a "store of value" and unknowingly want to kill bitcoin by doing that.
Topic: what is the biggest risk that bitcoin is facing at present? - page 2. (Read 547 times)
For me, much of it is psychological. I know that deep down, the btc holdings I have now were at one time worth only a few thousand US$. So it's always at the back of my mind that maybe I should just sell it all to take the money and run. I don't do that of course (instead of opting for small cash ins and long term gains), but I think a lot of early and middle adopters sometimes participate in a heard mentality kind of thinking. Like watching the wildebeests in Kusini. If something minor spooks the heard, they all start running (and cashing in in this case).
From a technical point of view。
For me the biggest risk is that a lot of BTC wallets will be lost in the future. And I don't know these "dead" could be withdrawn. In 10-20 years it will be a lot of "dead" wallets.
The transaction fees taken from the user has become very high and the processing time of the transaction is very high which is a problem for the users.
Bitcoins are not yet legal in most of the countries so again thats an issue for trading.
Bitcoins are not yet legal in most of the countries so again thats an issue for trading.
From a technical point of view。
Too many stuck transactions will cause the network to be really slow. That would lead to less people wanting to use Bitcoin.Technically that is really the biggest problem that bitcoin is facing right now, the technical issue of transaction being process at a longer period of time and fees for miners to confirm a single transaction.
This will cause people to abandon or find other alternative coin (top 10 in the market) to process their transaction.
I think the biggest risk to bitcoin is now the cost. Bitcoin transactions have to pay a high fee. That's not fair .. and payment transactions are slower
From a technical point of view。
Day by day stupid coins are entering in field of cryptocurrency but few of them.are much better by technology , So I think bitcoin is making attention towards such type of new new technology and trying to improve bitcoin blockchain technology more and more improved with fork experiment ( making network more faster ) , but here another big issue that we are facing is transaction speed that is not much faster that what we should have , we need to pay high amount fee but still confirmation of bitcoin transaction have no gaurranty that we can have faster confirmation with high fee , Because already with fee of 0.002btc my transaction is stuck and no confirmation since 4 days .So may be new change will be in bitcoin , otherwise bitcoin has no risk in any way .
I would say the high transaction fee is the pain right now when it comes to the Bitcoin. The fees that network requires to confirm the transaction is much higher than that of it should be and it is a serious obstacle to the growth of the network and hence the risk of slowing down the growth. There is a tremendous scope for the growth of Bitcoin across the globe but someone will definitely give a second thought unless the fee is reduced.
The biggest risk for me is the legalisation in my country, if my country decided to banned bitcoin then there will be more challenge to cash out or using bitcoin, but the most dangerous now is coming from bitcoin itself, many people complain that transaction fee is too high and the speed is too slow, and slowly people shifting to other coin
I see only 1 big problem that may lead to the death of bitcoin. It will die only if people will loose all of the coins (like users will give up on some dust on their wallets and delete them) so sooner or later there won't be enough satoshies for everyone and someone will have to make a new bitcoin. The other problem (like transaction fees) could be (and will be) solved pretty soon.
From a technical point of view。
I think when it comes to technical view, the most important to fix by bitcoin is the number of supplied coins and they should improve how their blockchain works. A lot of new cryptocurrency and altcoins existing today with has the quality features unlike bitcoin but for me bitcoin always be the one. Many altcoin can surpass bitcoin and I think it will be the greatest enemy of bitcoin to success. Bitcoin forks also be dominated the cryptocurrency, as of now, bitcoin cash is the most promising coin. I think if the bitcoin will not enhance its system, many investors will move to other forks or altcoin. 
Technically bitcoin risk is the fix number of supply it has and the development on its block chain. It is very obvious that many alts today offers a much better coins something that is more faster and reliable while bitcoin remain on it's position without any development. Now the value of bitcoin drops and people starting to shift into alts and if this thing continue to happen bitcoin may lost its current market
From a technical point of view。
The biggest risk may be the sudden crash in price value. If this happens, a lot of people will surely be pissed off! May be not in the system or Bitcoin per se, but mainly in themselves .
Risky? why? Most people who are saying that their bitcoin wallets are a store of value are very smart, in fact,
they are holding their money while they earn a + interest each time that the price goes up.
Yes, but that is what is happening right now.. all those who are tired of the fees are just switching to bitcoin cash. The only problem with this is that they are killing bitcoin, and they are using a new "coin" that is absolutely useless.
Tell your friends that zcash is a shit, the best thing that they can do is just buy PIVX, if they want privacy (zcash)
they are holding their money while they earn a + interest each time that the price goes up.
The biggest one is that a lot of people started to take BTC as store of value , It is not bad thing but at the same time very risky
Yes, but that is what is happening right now.. all those who are tired of the fees are just switching to bitcoin cash. The only problem with this is that they are killing bitcoin, and they are using a new "coin" that is absolutely useless.
Soon people will start move to other coins to transfer small transaction .
Tell your friends that zcash is a shit, the best thing that they can do is just buy PIVX, if they want privacy (zcash)
It is already happening most my friends going for zcash and ether to cut the fee down .
It's too expensive and slow to be used as a real currency.
Yes it's awful situation when you need pay such high gas price or wait 10 years because it to expensive with crazy hype and low speed
The biggest one is that a lot of people started to take BTC as store of value , It is not bad thing but at the same time very risky , Soon people will start move to other coins to transfer small transaction . It is already happening most my friends going for zcash and ether to cut the fee down .
This is already happen, Bitcoin it's not comfortable for small transaction, current tx fees priority are doesn't make sense.Additional when network chain are getting busy, many tx stuck. We need to find way to send fast transfer, solution is convert it to other altcoin such as zcash or xml that can send instantly with cut fee very low.
The government are really on the neck of bitcoin in other to take full control of it and the mining process itself ,this is not good news for investors and not the concept of cryptocurrency
I don't think its 100% technicality that has cause bitcoin to crash rather i would say it is politics which has been the reason.According to me this politics was played to create panic situation between small traders and they have succeeded in that.This scenario wouldn't have been like this if small traders wouldn't have panic.So i would say the biggest risk that bitcoin is facing today is lack of panic control and that can make bitcoin go down further too if not controlled in time.
often being hacked, nothing is more serious than that.
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