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Topic: What is the obstacle of Bitcoin? - page 13. (Read 22448 times)

legendary
Activity: 3542
Merit: 1352
Cashback 15%
December 25, 2018, 04:02:39 AM
#11
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.
sr. member
Activity: 1470
Merit: 325
December 25, 2018, 03:09:21 AM
#10
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"
sr. member
Activity: 798
Merit: 251
December 25, 2018, 03:06:01 AM
#9
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
I agree with there I also think about it so we must be responsive to the problem do not be careless in all the problems we can learn from there we must be adults also face problems
sr. member
Activity: 714
Merit: 250
December 25, 2018, 02:54:09 AM
#8
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
legendary
Activity: 1638
Merit: 1163
Where is my ring of blades...
December 25, 2018, 02:27:30 AM
#7
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.
newbie
Activity: 30
Merit: 0
December 25, 2018, 02:23:28 AM
#6
Maybe the close-minded people that aren't giving Bitcoin a chance to prove itself. Sad
legendary
Activity: 2898
Merit: 1823
December 25, 2018, 02:14:25 AM
#5
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.
newbie
Activity: 31
Merit: 0
December 25, 2018, 02:07:31 AM
#4
I think the very main obstacle Bitcoin is facing is the fact that the public isn't recognizing it.
member
Activity: 126
Merit: 11
December 25, 2018, 12:22:01 AM
#3
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.
mk4
legendary
Activity: 2870
Merit: 3873
Paldo.io 🤖
December 24, 2018, 11:31:01 PM
#2
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.
jr. member
Activity: 378
Merit: 4
December 24, 2018, 11:19:32 PM
#1
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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