nowadays people only believe in currencies that are recognized by their country or other international currencies. they still don't know about cryptocurrency which is bitcoin which can be used at any time, maybe in the future bitcoin will be accepted in the community
Indeed there are still many people who don't know about bitcoin. Even many have never heard of bitcoin. But it's a challenge that must be popularized and educated about the benefits and workings of bitcoin. The biggest weakness of bitcoin is that the owner is anonymous, so it is misused to hold illegal funds. 
Topic: What would you say is Bitcoin's biggest weakness as an industry? (Read 894 times)
December 05, 2018, 08:22:38 AM
November 23, 2018, 07:39:54 PM
One of the aspect of Bitcoin which poses weakness to its industry is its ability to draw a balance between the currency aspect and the investment aspect of Bitcoin. Bitcoin was created to be a currency but it appears there has been a paradigm shift to its investment aspect to the neglect of the currency aspect. This has reduced the daily usage of Bitcoin in the purchase of goods and service, quite shifting its from its goals.
November 23, 2018, 06:59:19 PM
In my own opinion bitcoin's greatest weakness is the ability of whales🐋 that are able to control bitcoin's price which affects people with smaller amounts of Bitcoin
November 23, 2018, 04:19:21 PM
The market should be regulated anyway.In another case, the development of the cryptocurrency will not happen.Bitcoin is the brightest and most promising star of the crypto-currency world, first of all I assess the situation on it.I don't know about coffee,but I would like to buy a house or a car for Bitcoins.If he can't do it,so can the other coins.
November 23, 2018, 03:41:14 PM
Its decentralization is both a plus and a minus for it. Because of this, it is so slowly accepted as a currency and can not fully realize its full potential.
November 23, 2018, 01:48:03 PM
It is open to speculation and you may experience a huge drop just in a day. It needs to an internal control system in order to avoid from price-slides. Also, it's not easy to buy or sell bitcoin.
November 23, 2018, 01:14:01 PM
I believe that as it is a project that depends on people, the greedy nature of human beings affects this project, we can always see it with the scams, pumps and dumps and other tricks that are used to earn quick and easy money, that is one of the worst things that has bitcoin and cryptos in general.
November 23, 2018, 01:09:16 PM
I think its strength is its greatest weakness, being very difficult to regulate because of its decentralized nature, it depends entirely on the users to protect the security of each project or investment and as we have seen in recent years, that can be quite detrimental to investors less skilled in new technologies.
November 23, 2018, 01:05:46 PM
No I don't think but altcoin can be higher then bitcoin in coming days
November 23, 2018, 12:55:15 PM
Personally, I think rthe Bitcoin/Crypto market needs to be regulated for it to become mainstream or useable in everyday life situations. For instance buying a cup of coffee or even buying gas? What do you think? What're the top projects you've been keeping an eye on and how do you think this will change the future of Crypto?
I do not keep an eye on any special project, but for me the biggest weakness of the whole world of crypto currencies are the exchanges.I think that their level of security (in many cases) is simply not as high as it should be. The exchanges are the backbone of the crypto world (together with the miners). The prices of the currencies are made there.
So they need the best possible standars of safety.
Every hacked exchange means another drop in bitcoin price, and with it more frightened people who question their engagement in the world of crypto currencies.
Keeping most of the coins in cold storage combined with state of the art software, that is something I would like to see as requirement to get the license for an exchange.
Of course that would make transaction times longer, but that is something I would accept in order to get more safety.
November 23, 2018, 11:31:03 AM
Regulation of the crypto market is a violation of the main purpose of crypto currencies. Bitcoin was created in order to get away from centralization, so that no one could take your bitcoin away from you or distribute it at its own discretion. So this is one of the main problem.
On the one hand, regulation should attract new investors to the market, on the other hand, because of this, the idea of cryptocurrency is being violated.
Personally, I am satisfied with the market as it is, otherwise I would trade on the stock market.
On the one hand, regulation should attract new investors to the market, on the other hand, because of this, the idea of cryptocurrency is being violated.
Personally, I am satisfied with the market as it is, otherwise I would trade on the stock market.
November 23, 2018, 06:32:52 AM
There are many weaknesses of Bitcoin. One of the biggest weaknesses of Bitcoin is the energy cost of production. It is estimated that Bitcoin consumes 32 terawatt-hours of energy annually which is worth $1.6 billion and this almost equal to amount of electricity consumed by some countries. This will deplete our natural resources much faster and degrades the environment. The worst is that these numbers will keep growing as more coins originate.
November 22, 2018, 12:35:54 AM
Personally, I think rthe Bitcoin/Crypto market needs to be regulated for it to become mainstream or useable in everyday life situations. For instance buying a cup of coffee or even buying gas? What do you think? What're the top projects you've been keeping an eye on and how do you think this will change the future of Crypto?
Everything could be handled but the price manipulation is what gets me really pissed.The whole point of bitcoin was that it was supposed to be equal for everyone.
I don't see that anymore, sadly!
November 21, 2018, 11:44:29 PM
gamers that live in their parents basement trying to get rich without having any life experiences such as most of you reading this.
November 21, 2018, 09:25:10 PM
I'd say the biggest weakness is the fluctuation in price. A lot of new people are afraid to buy or use Bitcoin when they see the price drastically changing in fear of losing money.
November 21, 2018, 06:57:45 PM
I think bitcoin’s performance is reflective of some of the weaknesses it possesses. What are some of bitcoin’s weaknesses? One, its tendency to be hacked infected with malware. Two, bitcoin exchanges have failed because of fraud or government intervention. I think these are affecting the reputation and performance of bitcoin. Perhaps people are looking for a more secure cryptocurrency?
November 21, 2018, 01:59:38 PM
Bitcoin is almost perfect for being a digital currency and Bitcoin is just waiting for mass adoption from all countries to become accepted currencies in all countries but volatility is a small weakness for Bitcoin and not the main because volatility has become part of crypto market movements. In addition, people who have used Bitcoin have understood how Bitcoin works in the crypto industry and does not really give importance to the problem of weakness.
The adoption will significantly improve the cryptomarket. At least in relation to ICO. The order will come to the cryptomarket and it will be more protected, because it will be under state control.
November 21, 2018, 09:43:08 AM
May be the raise and fall of the value be the biggest problem of the coin , people won't accept such type in industry
November 21, 2018, 07:26:12 AM
nowadays people only believe in currencies that are recognized by their country or other international currencies. they still don't know about cryptocurren yg which is bitcoin which can be used at any time, maybe in the future bitcoin will be accepted in the community
I think many people who do not want to accept money that is not official or not considered in that country. so they are also afraid of bitcoin. because bitcoin is long-term invested digital money. and some people want to get money fast. and don't want to wait patiently. November 20, 2018, 06:45:38 PM
nowadays people only believe in currencies that are recognized by their country or other international currencies. they still don't know about cryptocurrency which is bitcoin which can be used at any time, maybe in the future bitcoin will be accepted in the community
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