Topic: What is the obstacle of Bitcoin？ (Read 22448 times)
More users have mentioned the volatility as an obstacle. From my understanding volatility is the attraction of bitcoin. No currency is this volatile, people come towards bitcoin as it has got the potential to give the biggest profit. When that isn't possible anymore automatically it'll lose its importance. Now the earnings access is provided as it is volatile. If it is stable, then there is no difference between common currency and bitcoin.
Yes when considering some facts we would agree that Bitcoin is still developing to become a mainstream currency because because still there is no considerable stability in Bitcoins price fluctuation even it is used large scale which has become a major problem in the business world to combine it with core business payments and processes but this trend should change for the betterment of the future of Bitcoin and its users
You are right that it requires a stable currency to be used on a large scale but the question is that is bitcoin already been used on a large scale yet? Well I would say bitcoin is still developing
Bitcoin don't need to be stable in price to sustaine it position in the market
Every people loves stability as much as being volatile because this can lessen the risk of loosing big while we can still earn sufficient income because bitcoin is already indemand and will become more indemand in the future . thats why i believe that if bitcoin is stable many people will become more attractive with it but even today where bitcoin is still volatile ,bitcoin has always be on the number 1 spot .
Bitcoin price stability might not need for investors but from merchants perspective it is mandatory because with high volatility and price fluctuations merchants can face many losses for there goods or services which can be also a disadvantage for clients who use bitcoin as a payment method so in order for merchants to accept bitcoin I think volatility should be low and that is the main obstacle now bitcoin have that has reduce its adoption and acceptance by companies and small businesses
the price of bitcoin has been changing dramatically, and many people have invested in bitcoin. And they get a generous return. these stories attract more people to join Bitcoin. in my opinion, this is precisely an obstacle. It is an obstacle for Bitcoin to be used on a large scale. It requires a stable value for a currency that is used on a large scale.
I would like to agree on the last part, it's true that bitcoin's main obstacle found on its underlying value, on top of this is the fact that most trader now is getting more aware of the extreme price action that is happening almost every week now. This would translate to newcomers and generally effects public understanding. the price of bitcoin has been changing dramatically, and many people have invested in bitcoin. And they get a generous return. these stories attract more people to join Bitcoin. in my opinion, this is precisely an obstacle. It is an obstacle for Bitcoin to be used on a large scale. It requires a stable value for a currency that is used on a large scale.
A lot of obstacles that bitcoin is confronting right now. There are many investors withdrawn their investment due to the fact that they are fear to be lose. Bitcoin needs development, it needs liquidity wherein all people can use it simultaneously without having a problem. Gas fees are still high and there is a congestion to the bitcoin network once many people are sending BTC. We need a stable coin and can be used in everyday life. I hope bitcoin adopt it someday.
Bitcoin obstacles are many and might vary form nation to nation
*poor internet connection
*religious belief
*government involvement
*skepticism and ignorance e. T.c
*poor internet connection
*religious belief
*government involvement
*skepticism and ignorance e. T.c
Regulations from governments has become a big problem for Bitcoin to progress through adoption because any organizations doesn't won't trouble from the low frame work in there country because it can be very bad for the progress and due to regulations and restrictions from government against Bitcoin companies think twice before accepting Bitcoin so freedom from governments is a must for organizations to accept Bitcoin and to adopt it with there core payments and without that it cannot develop as a currency in the future
The technology and concept of Bitcoin and the Blockchain is incredible which provides a revolutionary solution to payment systems across the globe. One major obstacle hindering the smooth progress of such an innovative technology is the governments. Most of the governments are against the idea of Bitcoin because it is decentralized, hence Bitcoin and other cryptocurrency activities are unauthorized in some countries.
I agree. The government has all the capabilities to shut down bitcoin entirely in a country. For example, they could close down exchanges people who use crypto would have now means to liquidate it. The second obstacle for bitcoin is the lack of information in the public. Bitcoin having negative impression to the public stems from their lack of research on the matter.
The technology and concept of Bitcoin and the Blockchain is incredible which provides a revolutionary solution to payment systems across the globe. One major obstacle hindering the smooth progress of such an innovative technology is the governments. Most of the governments are against the idea of Bitcoin because it is decentralized, hence Bitcoin and other cryptocurrency activities are unauthorized in some countries.
bitcoin is indeed a lot of obstacles for those who invest, but for those who are experts, if it is already investing and lots of coins, suddenly the price drops free then this is the initial sign that prices are going to soar ..
Op has stated whether the price volatility will serve as a obstacle for bitcoin in its large scale adoption. From my understanding bitcoin has got such a big user community because of its volatile nature. If this was the same as the stable currency surely very few will be here. The volatility gives access to earning which is the one that keep major of the cryptocurrency users active.
for some people, changing prices can be a very significant obstacle for those who always use bitcoin. but, we know that it is a common thing. many of them also take advantage of these obstacles to gain profits. well, but, the biggest obstacle at the moment, I think is the difficulty of the government accepting bitcoin as a transaction tool, because it can make rival fiat.
The major obstacle to the wide spread adoption of bitcoin in recent times is the issue of high volatility. This is one of the issues discouraging potential investors even institutional investors from investing in the market.
But come to think of it, bitcoin is a decentralized virtual currency and one if it's core feature is volatile nature.
So it's expected for prices to swing the way it's doing .
But come to think of it, bitcoin is a decentralized virtual currency and one if it's core feature is volatile nature.
So it's expected for prices to swing the way it's doing .
The more people who invest and know bitcoin, the more stable this currency is. but on the contrary, we will no longer see strong growth in the past. This is also a bad point for investors
the price of bitcoin has been changing dramatically, and many people have invested in bitcoin. And they get a generous return. these stories attract more people to join Bitcoin. in my opinion, this is precisely an obstacle. It is an obstacle for Bitcoin to be used on a large scale. It requires a stable value for a currency that is used on a large scale.
Bitcoin prices are unstable because business people who use bitcoin are different from different countries, because in each country these different rules make traffickers uncertain. maybe the legal certainty and status of bitcoin in all countries should be the same if you want bitcoin to become a global currency. Instability is the main obstacle.
I mean who would want to invest all of their hard earned money into something which is highly volatile?
Majority of people are still afraid to risk their money so I think bitcoin needs to be stable first. This way, more people will accept it as it has a lot of benefits. Also, most of the world population, especially, third world countries don't even know what bitcoin really is. They think of it as something fraud, which is not true.
I mean who would want to invest all of their hard earned money into something which is highly volatile?
Majority of people are still afraid to risk their money so I think bitcoin needs to be stable first. This way, more people will accept it as it has a lot of benefits. Also, most of the world population, especially, third world countries don't even know what bitcoin really is. They think of it as something fraud, which is not true.
I agree with you here. It only means that it will reach mass adoption in some years when it finally gets a lot more stable and for that reason start being adopted by a lot more organizations which will make a lot more people see it as something realistic instead of just a fraud.
People with not enough ability to see is not only in third-world countries sadly. Even when there is where the vast majority of them are.
The funny aspect is that in Venezuela it is quietly a lot more adopted than in other third world countries due to the situation.
Op has stated whether the price volatility will serve as a obstacle for bitcoin in its large scale adoption. From my understanding bitcoin has got such a big user community because of its volatile nature. If this was the same as the stable currency surely very few will be here. The volatility gives access to earning which is the one that keep major of the cryptocurrency users active.
for some people, changing prices can be a very significant obstacle for those who always use bitcoin. but, we know that it is a common thing. many of them also take advantage of these obstacles to gain profits. well, but, the biggest obstacle at the moment, I think is the difficulty of the government accepting bitcoin as a transaction tool, because it can make rival fiat. 
The top obstacle to Bitcoin being mainstream is mass adoption. Bitcoin now is mainly purchased off an exchange.
If there was an option to use bitcoin as a currency for paying salaries, and calculating how many bitcoins is worth an hour's job. This would increase circulation.
As long as BTC is pegged on Fiat currencies, it will keep being used as a speculative tool.
you are absolutely right, if you stick to the fiat currency forever bitcoin will only be a speculative tool. but I think the role of government is very important if we want to make bitcoin as a mass adoption. but the reality is very difficult, so much opposition has been made by various parties. If there was an option to use bitcoin as a currency for paying salaries, and calculating how many bitcoins is worth an hour's job. This would increase circulation.
As long as BTC is pegged on Fiat currencies, it will keep being used as a speculative tool.
That is an obstacle, but it an obstacle that cannot be removed because price volatility is a part of Bitcoin. The price is volatile because Bitcoin is decentralized, only centralized currencies have stable price and Bitcoin is against currency centralization. It isn't the only obstacle, though, I think the biggest obstacle right now is that people like cash more because it is far easier to use.
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