Topic: What is the obstacle of Bitcoin？ - page 7. (Read 22463 times)
Bitcoin is a free crypto currency, everyone can get it from any country. So that there are a lot of bitcoin users who have different opinions so that buying and selling becomes unbalanced, and if we see now there are a lot of people who spread FUD
I think that BTC have a lot of obstacles besides the ones you mentioned.The main reason why Bitcoin is not accepted in some large transactions is because the government and the banks don't let it.If Bitcoin would have been accepted on a larger scale then believe me that the market and the crypto world in general would evolve a lot.
Bitcoin obstacles are much but a few of them I can point out is; it is not generally acceptable by all nations because many nations still don't trust it and see it as not legal, the banks are against bitcoin, they are yet to accept bitcoin and some banks even warn people against it calling it scam and many other reasons.
in every investment or business there must be constraints and difficulties, like at this time the price is so low that we have to be more enthusiastic in such conditions ..
Ignorance, fear from new untested technologies. Let's be real here, people don't know nothing about economy generally, they don't know who is printing money, nothing about distribution, nothing about current system, how can we expect people to understand completely different decentralised system. People still live in the shadows of their countries and governments, they do what is told to them, they don't question anything. With internet people are more connected, borders are fading away, people are more smarter and open minded, new generations will live in a different world for sure. In some way obstacles are good, overcoming them is making everything better than it was.
I think Bitcoin's biggest obstacle is people's trust. When people have doubts about the value of Bitcoin, it's hard to grow stronger in the future. And more importantly, if the government accepts bitcoin, it is a great success.
Obstacle of bitcoin is some are against to invest in bitcoin they said that bitcoin has a scam they keep judging. Some people are ignorant they did'nt know about bitcoin they simply judge at the first place. In that situation the people who want to join in bitcoin are few because of that issue.
One of the obstacle of bitcoin are the people who are against on it and think it was a scam. This obstacle cause people for not adopting bitcoin despite of the good opportunity that bitcoin can give. When people really understand bitcoin the volume of bitcoin users will increase and maybe it can be the way for them to earn a good profit.
This problem exists because they don't have an idea about what bitcoin is, because what they hear about bitcoin is the negative thing that is spread by mainstream media. I think the real key is legalization and regulation, I'm sure it will eliminate the negative stigma on bitcoin..These days a lot of people will just keep on judging you and unless you have a proof.
If a lot of people are using Bitcoin, I guess this will not be a problem. We are using Bitcoin for a long time now and I don't see any problem or "scam" into it. The only scam I've experienced is investing on ICO or projects that I've not studied carefully or thoroughly. If they will just read or track the history of Bitcoin, I think they will understand that scammers just use the anonymity of it and Bitcoin is not a scam itself.
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.
The price of Bitcoin really depends on the demand of Bitcoin users. when more people join to use bitcoin then that will make the Bitcoin confidence level increase, so prices increase. But the problem is when more people use Bitcoin but they can't use Bitcoin as well as possible so that is a problem. Bitcoin must be able to be used on target and that is the main goal of using Bitcoin in the financial system at this time. 
One of the obstacle of bitcoin are the people who are against on it and think it was a scam. This obstacle cause people for not adopting bitcoin despite of the good opportunity that bitcoin can give. When people really understand bitcoin the volume of bitcoin users will increase and maybe it can be the way for them to earn a good profit.
This problem exists because they don't have an idea about what bitcoin is, because what they hear about bitcoin is the negative thing that is spread by mainstream media. I think the real key is legalization and regulation, I'm sure it will eliminate the negative stigma on bitcoin..
The main obstacle now is the relative stability of the political and economic system, most people being satisfied with the means of payment at their disposal (fast and simple).
But the situation will change when the population loses confidence in the financial system and the currency, which is sure to happen.
What will happen when Italian banks run out of cash? what will become of the euro if Italy is defaulting on its debt? Salvini having already warned that he would not accept a troika as with Greece.
In case of no-deal, will the Brexit drive the UK into a recession? what impact would this have on the rest of the already fragile euro area?
And, finally, perhaps most importantly, what does the reversal of the yield curve mean?
But the situation will change when the population loses confidence in the financial system and the currency, which is sure to happen.
What will happen when Italian banks run out of cash? what will become of the euro if Italy is defaulting on its debt? Salvini having already warned that he would not accept a troika as with Greece.
In case of no-deal, will the Brexit drive the UK into a recession? what impact would this have on the rest of the already fragile euro area?
And, finally, perhaps most importantly, what does the reversal of the yield curve mean?
One of the obstacle of bitcoin are the people who are against on it and think it was a scam. This obstacle cause people for not adopting bitcoin despite of the good opportunity that bitcoin can give. When people really understand bitcoin the volume of bitcoin users will increase and maybe it can be the way for them to earn a good profit.
Yes you are totally right about that. The obstacle of bitcoin is not the volatility of it, its normal because its the nature of cryptocurrency. Indeed the obstacle of Bitcoin is the banning and rejecting of it without any reason if its have then its unfair but we can not do anything but to accept and respect it. We must continue to promote Cryptocurrency and lets proved the good usage of it.
they may have thier own valid reasons if they ban or reject bitcoin and yes we cant do anything about it because thats their own country and government . instead of stressing our self too much with them why cant we just foccus on our own business ? we are the ones that can become succesful because we believe on bitcoin and they were the ones that will regret at the end .
In my own opinion the obstacle of Bitcoin that needs to be fix is the transaction speed of the network. But I think it will be covered up by the lightning network which will be done on the next few weeks or months.
i thought that lightning network has already been implemented last year ? but if its not then i think the transactions of bitcoin is already fast compared to previous years and the speed will also improved if you put a higher fees during the transaction .
One of the obstacle of bitcoin are the people who are against on it and think it was a scam. This obstacle cause people for not adopting bitcoin despite of the good opportunity that bitcoin can give. When people really understand bitcoin the volume of bitcoin users will increase and maybe it can be the way for them to earn a good profit.
Yes you are totally right about that. The obstacle of bitcoin is not the volatility of it, its normal because its the nature of cryptocurrency. Indeed the obstacle of Bitcoin is the banning and rejecting of it without any reason if its have then its unfair but we can not do anything but to accept and respect it. We must continue to promote Cryptocurrency and lets proved the good usage of it.
One of the obstacle of bitcoin are the people who are against on it and think it was a scam. This obstacle cause people for not adopting bitcoin despite of the good opportunity that bitcoin can give. When people really understand bitcoin the volume of bitcoin users will increase and maybe it can be the way for them to earn a good profit.
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.
indeed this is an obstacle in bitcoin. because now investors get cheap results, while they sometimes issue a big result. so sometimes they feel sad about all this. but it can't be helped, this is a condition.
Time. Innovations always takes time for it to be adopted. We're at the early adopter stage at the moment, look at the Law of Diffusion of Innovations (https://en.wikipedia.org/wiki/Diffusion_of_innovations) for further details 
Bitcoin constraints are enormous but I will mention few, one of the major one is Hacker louring into people's account, another is the Manipulation of the market which affects the market at large and the is FUD which also create large impact on it volatile movements
Bitcoin market price volatility is not an obstacle of its client to buy bitcoin. There is no reason for an individual to afraid on buying it if the client or users understand how it works. Risk is part of it and you cannot earn profit without risking. However, here in cryprocurrency strategy is very important and a good prediction skills might also be one good factor to earn bitcoins in trading taking advantage of its market price volatility.
Until now, bitcoin still has too complex constraints, which include:
- Bitcoin can't be used to buy anything because of a ban made by the government, and it's still valid today especially in most countries.
- Media coverage especially those related to bitcoin ETFs turns out has had a negative influence on the development of bitcoin because this thing has made most users rely only on the positive decisions of the SEC, and without doing anything (buying). I think what they are doing is very funny because their actions cannot bring changes to the price of bitcoin towards a more positive one, other than by buying.
- Bitcoin Network Traffic. So far especially when bitcoin network traffic has reached its peak, bitcoin transactions have felt very long and often take up to hours, in this case it's clear that segregated-Witness (SegWit) is not yet capable of solve problems like this. However, Lightning Network (LN) is rumored to be coming soon, I personally certainly really hope that LN in the future, can be used as a solution and able to solve the problems that have occurred so far. Ok hopefully it's true.
One of the obstacles could be the high transaction fees. Not now, but when BTC was very expensive (above 15K USD) and everyone wanted to buy and sell it at the same time we frequently faced with 10-20 USD fee / transaction which is incredibly high.
Jump to: