Topic: What is the obstacle of Bitcoin？ - page 13. (Read 22438 times)
Worth noting is the lack of actual use-case for bitcoin since there aren't much places to spend your lovely bitcoins. Should there be a lot of places to spend, see how the amount of market growth follows and volatility reduced. We need to at least spread bitcoins to a lot of people too, so that the risk of manipulation is lessened and not easily be gamed by whales and opportunist traders.
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.
you dont want to know that, its in front of your eyes and you dont see its.
its just pumped up pow trash, world needs completely update of its financial system not marketed "crypto gems"
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.
Bitcoin constraints are now a lot but I will mention only 2, namely the unstable market price and the many hackers in this world and that inhibits bitcoin and damages the bitcoin image I think that's the main problem I feel in this coinIf 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.
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.
Bitcoin constraints are now a lot but I will mention only 2, namely the unstable market price and the many hackers in this world and that inhibits bitcoin and damages the bitcoin image I think that's the main problem I feel in this coin 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.
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.
you pointed out one of the problems that bitcoin has been facing, it shows itself as volatility but at its heart it is this. bitcoin is being adopted, and as that grows the price grows and with it comes big profits. as a result it attracts a certain type of people who want that profit and nothing else. this group increase the volatility of bitcoin which was supposed to be a currency and that damages the adoption and slows it down dramatically and also makes bitcoin harder to be used as a currency.
Maybe the close-minded people that aren't giving Bitcoin a chance to prove itself. 
On the top of my head, here's a few.
- Liquidity: As liquidity is low, big market orders are expected to significantly move the price of bitcoin or cryptocurrencies in general. This is something that will be "fixed" as more money goes into the bitcoin markets.
- UI/UX/user-friendliness: Bitcoin might be easy enough to use for most of us here, but it's definitely not for non-tech savvy people(e.g. our grandparents). Especially with the handling of private keys; I don't think we can expect true global adoption if people needs to backup their recovery seed on pieces of paper.
- Misinformation/Misunderstandings: There are so much misinformation spreading about bitcoin. Namely, "bitcoin is not scarce, people can create forks", "bitcoin is only used for drugs", and many more. There's so much misunderstandings of people in social media and on television; and what's worse, is that they're spreading their misinformation! Causing a sort of domino effect on people's impressions of bitcoin.
There are also many more misinformation, and gaslighting being spread, like "Bitcoin bilaterally split into Bitcoin Core and Bitcoin Cash, and therefore Bitcoin Cash is Bitcoin because Satoshi's vision", which was started by Roger Ver.
There are also others who post the misinformation, followed by a long post of techno-babble which would make them look very smart for a newbie. I was once a victim of this, until I did the research. Haha.
I think the very main obstacle Bitcoin is facing is the fact that the public isn't recognizing it.
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.
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.
On the top of my head, here's a few.
- Liquidity: As liquidity is low, big market orders are expected to significantly move the price of bitcoin or cryptocurrencies in general. This is something that will be "fixed" as more money goes into the bitcoin markets.
- UI/UX/user-friendliness: Bitcoin might be easy enough to use for most of us here, but it's definitely not for non-tech savvy people(e.g. our grandparents). Especially with the handling of private keys; I don't think we can expect true global adoption if people needs to backup their recovery seed on pieces of paper.
- Misinformation/Misunderstandings: There are so much misinformation spreading about bitcoin. Namely, "bitcoin is not scarce, people can create forks", "bitcoin is only used for drugs", and many more. There's so much misunderstandings of people in social media and on television; and what's worse, is that they're spreading their misinformation! Causing a sort of domino effect on people's impressions of bitcoin.
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.
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