What problems face Bitcoin? - page 3.

Blawpaw

legendary

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Quote from: MNbag on October 13, 2021, 02:04:57 PM

What problems in Bitcoin's infrastructure prevent it from being adopted more easily?

Cryptos are still quite cumbersome to use. I guess this is still one of the key issues with cryptos. Adoption will come once we figure out a way to offer a much friendly way of handling and using cryptos. Take Defi for instance; it is even more difficult for someone new to the industry to grasp. The problem with cryptos is that you still need to have a bit of knowledge to dig into how everything works and how to use it. This leaves a lot of people out as they don't want to meddle with something that they don't understand.

dunfida

legendary

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Quote from: MNbag on October 13, 2021, 02:04:57 PM

What problems in Bitcoin's infrastructure prevent it from being adopted more easily?

1. Regulation
2. Volatility
3. Scalability
4. Negative views and impressions
5. Not all are ready to know and research about it

But if we do try to compared of things back in the past then we could definitely say that there is really some progress
and development which is really good to look and we shouldnt worry on how things should be done.

Zilon

sr. member

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Bitcoindata.science

Lots of reasons but the most common include:
High volatility
Unstable nature
Decentralized which make it difficult for the government to manipulate.
It's the Most secure form for ransomware payment due to its anonymous peer-to-peer network.

Many still complain of the high energy consumption during mining. To add to all this Bitcoin doesn't have an intrinsic value it depends on fiat currency to have its value

bL4nkcode

copper member

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Limited in number. Limitless in potential.

It's more in the volatility, decentralized nature, it was also used to scam, payment of ransomware, used by criminals and etc., said by some oldies in a particular government office which hinder the adoption . That's why it would be better to ban them lol.

While for me, it's all about the large transaction fee if the network is congested, lots of user complain why it's expensive sending with small amount. While there is lightning already, newbie/users just lazy to learn it instead due technical reasons and mostly, the lack of support from the government.

Shenzou

sr. member

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Quote from: MNbag on October 13, 2021, 02:04:57 PM

What problems in Bitcoin's infrastructure prevent it from being adopted more easily?

For me personally the problem that i see facing bitcoin is the use in microtransactions, if ell like we can't be using bitcoin to go and buy regular things from the store and pay for groceries because of the nature of the transaction and how they take too long to be confirmed and how we have to pay for high amount of fees for small transaction, how could we be asked to be using it if we can't pay for small thing, this is the issue that needs to be addressed because once it gets easier to make these transactions, paying with bitcoin will become a normal thing.

BlackHatCoiner

legendary

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Farewell, Leo

1) Non-regulated form of money.
2) Highly volatile. A merchant will be discouraged to adopt a currency which is seen mostly speculatively.
3) Ignorance about the problems of the current financial system.
4) FUDs about the energy waste, criminal activity etc. (Which may also make them go against it)
5) It's difficult for them to understand the concept; it makes them give up on learning how it works.

MNbag

member

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What problems in Bitcoin's infrastructure prevent it from being adopted more easily?

Topic: What problems face Bitcoin? - page 3. (Read 355 times)