Bitcoin Forum

I personally feel Bitcoin is slowly being defeated. From all the allegations made about how bitcoins were used to purchase weapons in aid of the Paris attacks, to money laundering reports. It is slowly becoming some sort of epidemic to me. I am not all that certain how long it'll last to deal with this type of negative impact and overall reputation but I am somewhat holding onto hope. I know the four businesses I'm working with are probably going to be positive influences on the way Bitcoin could really be viewed. I don't know how long the upcoming influence could last though. In fact the founders of Nerdy Knitties (https://bitcointalk.org/index.php?topic=1281722.msg13192071#msg13192071) and Math-Morale (https://bitcointalk.org/index.php?topic=1275167.msg13168720#msg13168720) had mentioned quite similar concerns.


The founder of Nerdy Knitties reportedly mentioned Bitcoin to the Etsy community, and soon had her thread filled with scam accusations just for offering to accept bitcoins.

Her response:

"I had mentioned Bitcoin on the Etsy forum just asking them if they knew what Bitcoin was in a thread title. In the OP, I told them I knitted some cool sweaters and slippers with the symbol on them. They immediately attacked my thread saying how they always get somebody like me trying to get bitcoins accepted on Etsy, and that anyone that deals in Bitcoin is probably a scammer because of how anonymous it is, and that if they're not a scammer currently, they will eventually become that. I literally couldn't believe how upset they were just because I said 'bitcoin', and now I won't bother them about it again. I was super nice as I could be so I don't get how they were so scared of me because I mentioned the cryptocurrency".


The founder of Math-Morale took a couple blows as well when discussing Bitcoin to his professor.


"I walked into university today feeling somewhat better than before on my reevaluated proposal to my preferred establishment on adopting effective, efficient and immediate resources to promote Bitcoin through mathematical science. I had my doubts on my first proposal, just because I knew that one of my professors had just commented negatively about Bitcoin after reading an article online that Bitcoin might have probable cause for creating an outlet to purchase weapons secretly in an effort to aid terrorist attacks such as the recent Paris attacks. When I had taken that into consideration, I decided to explain to him how Bitcoin isn't exactly what causes these illegal transactions, but it is moreso the non-regulated and overall ignored standing point Bitcoin has been given that actually does. If we turned to mass adoption tactics, at some point the government would have found some kind of way to keep Bitcoin transactions under close watch of illegal activity. Where there's a will, there is a way. He laughed in my face even after I felt I explained myself to the utmost confidence and importance. At this point, I feel somewhat offended. I deal in bitcoins. Does that automatically mean I use it to purchase drugs and weapons?"

I think the depends on what you term success.  Do you mean that it will displace the world's existing currency?  Or gain credibility as a form of payment or something else altogether?  I think the bitcoin has already been fairly successful and many places accept it as payment, with more every day.

There will always be ignorant people who fear what they don't understand.  The only way to combat that is education and knowledge.

The Silk Road damaged bitcoin's reputation, and all the publicity of the Silk Road coin auctions kept reminding people about it. Now the Variety Jones arrest has reminded people about the Silk Road again. After the trial is over people will forget about the Silk Road, and its bad reputation will stop holding bitcoin back. I think bitcoin will become more successful, but it needs to leave the silk Road behind first.

I think we are early users. It took a while before the world wide web and e-mail took a place in society. People need to get their heads around cryptocurrency, but technology is more accessible than ever so adoption may be quicker.

Bitcoin has received so much bad press since day one and it keeps marching on.  The thing is the bad press is usually related to something else, so for example the pairs attacks,  if cash had been used by the terrorists to purchase weapons would anybody have batted an eyelid regarding that, the answer is no.  people who want to run bitcoin down are always looking to associate bitcoin with negative stories, and are usual ignorant of how bitcoin works and why it is a revolutionary technology that not will, but has changed the internet forever.  The age of the blockchain has only just begun.

The problems bitcoin has are all within its protocol, to me these are the things that will make or break bitcoin over the next number of years.  block size, wallet security, address length, blockchain bloat, to name a few are the things that will need sorted over the next few years before bitcoin will ever go main stream.  And if these things dont get fixed it does not mean that is the end of the technology, it just means that people will use the same tech but it will be called sumthing else.  Bitcoin has the unique advantage of being 1st and having a great name, so hopefully these problems will get sorted, and in the future when bitcoin is used for a criminal act people wont even think twice about it, they will think yeah thats what you would expect them to use.

Nobody fears the US dollar, buddy.

There's several reports about Bitcoin negatively affecting the world though.

Probably this, althouth I`m not sure:
https://bitcointalk.org/index.php?topic=1251287.0

 ;)

hmmm I though it couldn't have been anymore successful

still on track to reach the 20 Trillion capitalization :)

That is pure FUD... you should not be bothered about that. As long as the transaction volumes are increasing and the VC investment supports the technology, it will not die. Just keep asking merchants to accept it,

and stimulate demand. Your function in all of this noise, is to just explain to all the people who have read this garbage, what the actual truth is.. then leave them to make up their own minds.

Some people take it a step further, and they actively promote Bitcoin OR counter this FUD with good stories and projects being done with Bitcoin. Do good and good will follow,  ;)

Bitcoins utility has been largely about speculation. And obviously its done not so well for later adopters in terms of store of wealth.

Still, the protocol and the distributed ledger is under appreciated.

 the protocol and the distributed ledger is under appreciated.   <<< this. remember people that bitcoin is just the tool on top of the real star. the blockchain technology itself. let them crush "BTC" , the decentralized, p2p idea behind the blockchain allows us to build ANY form of currency (or trustless exchange for that matter). let the come, same as always. all that the "slow adoption" causes is more time to stack us "early adoptiors" end games. ;)

Well I don`t know how it is in some other countries, even I dont know how it is in some big cities. I live in Nis with population around 400.000. People around me dont trust in things that they cant see or touch. I`m talking with them, showin them interesting things but they are mistrustful about all this.
For me that is all strange, but I think time will tell how wrong they are. Also people watch tv to much, and I think mentioning BTC in comercials, movies, songs is to low now and people trust more in what they see on tv then about something they read on internet.

The problem is not bitcoin, it is the escalation of several other things such as the terrorist attacks. People need to find closure and something to blame. They will look for every reason possible to give it a place.
Unforunately for bitcoin, this means that when it is used to buy weapons (lets not mention the other weapons that are bought with fiat), bitcoin gets blamed.
People getting scammed online, they blame something that they think is the reason (bitcoin), instead of the true reason (their own idiocy).

To me the bitcoin has already been successful. the reason am saying so that there are today very many people who are trading as we talk now on the bitcoin platforms. One thing i think you are trying to put across is the fact that the bitcoins are not being used across the globe the way you see dollars being used in all countries in the world. It is just the matter of time and we will be there. Success is a milestone thing and you get one in a while.

It depends on what you believe "success" means. I think we've come a long way from where we started this year. The value of bitcoin has grown this year a lot.
For next year, I hope that more and more people will start to adapt to bitcoin or at least get to know about it.

dont give up hope yet, this is going to be a huge year when halving comes!!!

I think the true success of bitcoin lays within the majortity of the people living on this earth. Even though this community seems like it has so many users. There are still people out there in the real world who's got no clue on what bitcoin is or that it even exist.
To see bitcoin at it's full potential, more people would need to be aware of this and adapt to it.

For me lack of income is a big one that stops Bitcoin from being more successful.

Most people I know are into Bitcoin for the extra income it might provide, but it is not easy to earn it. Buying it is not easy either, requires to renounce anonimity in many cases, and does not offer any extras (you just change your fiat for another kind of money), rather, Bitcoin is less usable than regular fiat.

I think lack of advertisements around the world is holding back the full potential of bitcoin. We need it to be more known but that's kinda hard to do when the media keeps shading bitcoin with only negative comments.
Saying that it's illegal or only criminals are using it, is not helping out either.

Exactly my thought, there are no advertisements to show the potential of bitcoins and if there are media exposures, it's more of negative and discouraging people to engage in it. People nowadays  are more vigilant using the internet when it comes to their money because of the recent scams circulating on the web.

What OP describes is indeed the typical behaviour out there regarding Bitcoin.It's image is pretty negative thanks to all media reports pushing this.
The view at the internet hadn't been much different back in the time, during the 90s.
When you're smart you take advantage of that because this image will not stay forever like that.
So now you have the possibilty to buy pieces of THE technology that will change so many things in the future.
And right these pieces are cheap to get.
The ones who laugh at you now will be the ones who will cry in ten years!Trust me!

Well, if I will go out to streets and ask average 100 people about bitcoin what do you think will happen?
Probably 98-99 people will say that they have no idea what is bitcoin and 1 may know but will say that he/she don't trust bitcoin.
So, we really have to think how to introduce bitcoin to the public, change mostly negative public opinion about it and try to find a way to create interest among merchants for bitcoin.
There is no other way.

This, half the people i speak to have no idea what bitcoin is or what its used for. Maybe with recent press good or bad  more people will hear about it.

We need a killer app. Most likely one that allows you to transfer money anywhere in the world at the tap of a touchscreen.

I don't think anything is holding Bitcoin back at the moment. We are experiencing a slow adoption mainly due to the average Joe's who are believing the nonsense from the media. If they really see what Bitcoin can do, then they are very stupid to not use it. It costs time.

Time.

Lack of advertisement on of tv,instability of it,negative reports online.
because of this people are having doubt of bitcoin is a good investment,
if the price of bitcoin stabilize, bitcoin will attract more investors becasue
they will not worry about bitcoin price suddenly going up and down.

No. On the contrary. Bitcoin is slowly being regarded more a more, but the key word here is SLOWLY. Bitcoin progress might be not good for many of us, Op included.
I like to use Internet as a main example here. It was far superior invention yet people didn't accept it as medium in a year or two. Bitcoin acceptance will take time.

Well one idea I've had is that we need sort of like a standardized bank/program that would operate as a transferring agency, never giving out loans and operating on small donations or similar funds.

It would be a "wallet" online which would avoid transfer fees by just moving Bitcoin from wallet to wallet, and allowing for withdrawals at any point. It would never use any Bitcoin, and only operate with what was put into it.

That's a fairly simplified version of my idea, and it's probably been mentioned before, but if there are any other ideas to add they'd be appreciated.

We really need to adjust the image first.

I have a business partner that's working on that, but I don't know how long it'll be, honestly.

The main thing is the fear of something like the Mt Gox scam happening again. No one wants that, especially us. We just have to make the non-bitcoiners start to trust bitcoin again.

It's still too obscure and looks strange to most people outside the bitcoin circles, but we only need time and let things get better and the average user will see it with a different perspective, for now i wouldn't worry about it.

Is there proof it is a scam? I haven't really looked into that.

I think part of it has to do with lack of recognition. I told two people I know about it and they never even heard of bitcoin 

Waaay too hard to be used by beginners.

Actually, I believe it's something you should worry about, because there's really not much hope left if people as yourself will feel a requirement to stay passive to our struggles.

it's slightly simple to use in my honest belief

You probably don't remember how the internet was just for porn? It kinda survived.

p2p file sharing was just for pirate music and movies. It survived...

Don't worry what people say. Negative sentiment affects the speed of adoption, but doesn't stop it.

To me there are two primary problems that hold bitcoin from being like a currency and keeping it "only" as a commodity:

1. Transaction time (confirmations) - for buying (investing) or just transferring that's fast enough (who worries if it takes for example half an hour if you do this very infrequently), but I can't imagine buying stuff in a shop and waiting 20 or 30 min by the check-out to wait for those confirmations...

2. Price volatility - with such a wild and unpredictable jumps it makes bitcoin interesting for speculations, but no one is going to keep bitcoin as "normal" money, because essentialy every single day you wake up and have no idea how much you will be able to buy for your "money" today...

bitcoin has faced many problems like mt gox,pasic attack and some more well known prospects but as we know it can be bad or good but whole world needs something like bitcoin for the revolution.it maybe people needs a time to trust it back but they will sure come back and use it someday

Price volatility is the biggest problem. We do not know what the price will be next week. We cannot use it as investment.

I think one of the reasons is Bitcoin's reputation. With all this bullshit about ISIS and Europe crisis using Bitcoin, Bitcoin's reputation is ruined.

The transaction time of Bitcoin is too high which I think is one of the reasons people are deterred from Bitcoin.

To anyone worried about negative publicity, I wouldn't car tooo much. Every single thing now-a-days gets negative publicity. You could probably donate thousands or cans of food to the homeless and the right-wings would say that's enabling the poor and they cheat the system and the left-wing would say that it's unethical to donate GMO food products...

We have to be confident first about the Bitcoins price volatility, because we don't know the future but still businesses are running with hopes for any things. So I personnely feel that if we hold back some Bitcoins will sure give success.

However i don't think people are panic like before whenever this is bad news out there. This is what bitcoin needed, peoples trust you can see how price keep stable when paris attack and lots of other cyber crime get connected with bitcon recently.

I don’t think bitcoin is in the proper position to succeed. Come to think of it, bitcoin is just an electronic currency you can’t even see, you might lose it so easily. People are likely to believe in what they see and not what they can’t see.

Bitcoin is not acceptable in Bank’s anywhere, and not every big company online accepts bitcoin, so why should people be interested. That is the very mysterious part of the bitcoin.

The faith on bitcoin is backing it's success so far.

The weakness of bitcoin is non stop debate about an issue, still cannot reach some extent of consensus. In protocol, we don't have poll system implemented.

Mass adoption by people. Not many people know about bitcoin.
Bitcoin needs more advertisement and less news about bitcoin being only used for illegal activities

What do you mean "The faith on bitcoin is backing it's success so far"?
Faith is the only thing it needs to be successful. Faith is actually the only thing any currency needs to be successful. If John Lennon had been a bitcoiner he'd have sung "all you need is faith". I can't think of anything else that bitcoin would need but faith, really.

I think, Bitcoin at this year's (2016) until next year would further demonstrate their success.

Because there have been many who know the system and accept Bitcoin (country, company, a Bank, a Billionaire, etc.).

So I think the Bitcoin will return success this year and the coming year

I would add to this poor bitcoin privacy.

Bitcoin core dev, Greg Maxwell, says that many companies are scared of bitcoin, because if they used it, all their transactions would be made public.

https://youtu.be/9pyVvq-vrrM?t=2286

This is not what usually companies, and individuals, want.

True. Lots of people talk about the anonymous part of bitcoin, but that's fucking wrong. Once the adress you used is known, every transaction can be followed. There is no bank secret in that!

Really true in CoinBase you need a picture of your ID to confirm is really you. I don't like that very much, because you won't be that anonymous after that. If you want to do some illegal things than better have other wallet. If you not doing some illegal things than is nothing wrong knowing your ID.

Exactly, that's the most important reasons as to why companies and corporate operations are holding off on using bitcoin. It's a shame really, I'm hoping for someday this will change, even though for us regular users, it's perfect but if we want the whole world to adopt, we would need to change this.

There should been a advertisement about bitcoin in the TV I think people will just use it.
But people are also scare using it and they don't know how it works.
Some people are old fashion so yeah let them be. It will be nice if all people use bitcoin.

Agree with the advertisements

There's just not enough info out there in the real world

There is more than enough online but only if you look for it

You won't just stumble on it

No, bitcoin is a kind of currency lot’s of people are really love to use. Even it's a volatile currency and nobody knows what the price will be tomorrow, still people are investing their money into bitcoin ecosystem. Most of the people thinks that bitcoin is the future of world currency. This hope is the real backing for bitcoin system.

Yes, of course. if this time you hold bitcoin, you will profit in the future if the price bitcoin be 5 digits as $ 10,000 for 1 BTC, if it happens you will surely love hold bitcoin  :)

I am pretty sure that this can be overcome by using a middle man solution like BitPay or maybe some bank will start doing that for some fee. I could also think about an adress mixer but that might not be legal...

Furthermore, I think the big ununity in the crypto world itself is not the best publicity to the outside and think also about the scams the alt coiners produce - also some deep bitcoiners are getting confused sometimes about alts and loose their FIAT or even BTC there , but should know better....

At this point is a way bigger risk having your money on stocks than having your money on Bitcoin which translates on the Bitcoin price going up everytime there is a quake happening in the stock market, as we have seen continuously since the chinese capital controls (or even going back to the cyprus days) and every time this happens again, it will only get bigger as more people are aware of BTC's features.

yes sure, but how you connect that address to his real owner, how can you know how many someone spent? that is the real anonymity part about bitcoin

yea but its hard to associete, i send 1 btc from address A to B, you have no way of proving that address B is mine, i dont think even in court such evidence is accepted. Because it's very shallow.

You need more proof.

Less Social Awareness.That being said,technological influences could be another one.The old generation will surely be not open to such ideas of online currencies as they would prefer fiat or at the best credit cards.They are still insecure,technically challenged I must say to get adapted to bitcoins.

Whole point of bitcoin is not to use any third party or middle man. For two reasons, imo. First, with fiat you already have middle man for transactions, which are banks. Hole point of bitcoin is to avoid it. Second, blacklist. A thid party can control/censor your transactions, and again point of bitcoin is to avoid it.

And speaking of BitPay. BitPay is not a very good example in this case. They are already censoring and blacklisting transactions:
https://www.reddit.com/r/Bitcoin/comments/3mea6b/bitpay_is_blacklisting_certain_bitcoins_rejecting

And what is means, let me quote Andreas Antonopoulos:


https://youtu.be/ak1iojpiHpM?t=2039

It's quite hard to wrap your head around cryptocurrencies, it's a fairly new concept, it's not globally recognised.

Fiat's ease of use and stability, this is the one and only reason that is stifling Bitcoin's progress.
Bitcoin is not accepted which causes its volatility; which decreases its acceptance which causes more volatility.

Bitcoin is a money and money is a means to buy something.You can buy guns,weapons etc or food,clothes and shelter with money.You cant say money is bad because someone buys weapons with it or just because some criminal orv terrorist use it for buying weapon or drug.Bitcoin has many benefits also

Fiat may be considered stable when you look at it on a daily basis. A dollar yesterday is worth the same as a dollar today. A dollar in 1915 is definitely not worth the same in 2016.

I wish that I could say that a dollar was always the same value day to day here in Canada. It seems like every second day we see the dollar slide deeper and deeper down...

And its making everything a hell of a lot more expensive. Silver coins from the Royal Canadian Mint are nearly $25 now.

Still bitcoin is widely used by all people around the world. The volatility is highly preferred by many traders to make use of it by trading. I don’t think anything can stop bitcoin from succeed. Bitcoin have also caused lots of financial revolutions.

Also bitcoin communities are likely pushing it for succeeding. When the people are more supportive to the bitcoin developments, it will grow further on this kind of cooperation, I don’t think bitcoin will never slide from the point of succeeding.

The comparison has been made before that Bitcoin is like the internet - in its infancy the internet was looked at as fringe and a great place to play solitare.  Many said the internet would not be a factor.  Bitcoin is similar at this time, still associated with illegal activities by mainstream. 

My answer is press.  2015 was an improvement and we should see that continue.

Holding back Bitcoin's success i think it is the block size which is small right now, confirmation time, and being not allowed in some countries to be used bitcoin.

I used to think the conflict within the community will hold back the bitcoin. But not any more. The community will find consensus, although it might take some time.

That's true, and I think that lack of knowledge is also playing an important part in lacking the success of bitcoins as people are not aware about the bitcoins and hesitate in trying something new and yes the people who are already into bitcoins are worried about the delay in confirmation time.

World adoption could change the success of bitcoin.
The more people there are adapting to bitcoin
the more demand there will be.

I think what's holding back bitcoins success is us, yes us. we tend to shift back to fiat when we see a fluctuation in price. and selling it is like abandoning bitcoin.  :)

Success needs to be defined. I think until mass adoption happens , the price will never go up. If its the technological success or the usage, then its already been happening.

That it still need some additional work (with new exchanges and merchandise sites) to make it a currency usable everywhere, also the bad reputation that scare many normal businesses from using it.

Adaptation is what we need? All this now is just gamble and some kind of investment..
Only if you think bitcoin would be something different from pump and dump game.

Once more people start adapting to bitcoin, the more demand there will be for bitcoin
Since bitcoin is limited, the price can only go up from there

I think the desire of some people to control what is happening with the development of the project might be holding bitcoin down. Even though it's decentralized it feels more and more like a centralized venture.

More aggressive commercials of all possible networks and platforms..twitter, youtube, facebook.
How many time i have read about death of bitcoin? Why?

I agree, if this were to happen, more commercials and more positive outlets about bitcoin, more people would were to find out about it. It would also help them understand how bitcoin works and what it stands for. All this negativity is holding bitcoin back from it's success.

Journalists like to write bombastic headlines to attract more readers while the things they write about most of the time are just rumors.

this among other things

https://bitcointalk.org/index.php?topic=1336034

Holding back? for me this is happening at a shockingly fast pace. I thought it would take 10 years to get to the place we are now.

Yeah, I am also of the view that if mass adoption occurred the price of bitcoin wil then get stabled , as like USD. USD is stable becuase of its global value. The same will be the future of the bitcoin if it remained favourite of the people and accepted worldwide.

Well we saved 3 years, but I think in the next 10 years Bitcoin will really go global. Already you can see thousands of folks joining from all places in the world, and many new companies getting interested in it/

The supply and demand is both here, now all we need is to expand this market globally.

Probably the slow transaction, who would like to line up for so long paying for gasoline awaiting for bitcoin transfer to get completed. If only it can work in less than a minute there'll be probably more users of bitcoin.

The transaction is almost instant.You are speaking of confirmation and settlement time I guess.
Wait until LN is ready as layer 2 on top of Bitcoin and your "problems" are solved.

The split of community. The developers of the bitcoin have biased interest as they are employed by certain organization.

This. Entire bitcoin core development is being controlled by a single company:
https://www.reddit.com/r/btc/comments/43pq1z/i_didnt_realize_how_bad_it_is_blockstream_has_9/

The thing that is holding back Bitcoin success is, because of income taxation regulations, and regulations in general, people in everyday, walk-in stores, are fearful of offering the option for people to pay in bitcoins.

:)

i just think to holding bacck bitcoin succes must be have many aspect,it start from regulation,goverment problem,and willing from bitcoin developer to make bitcoin more strong than ever,and of course accepted in many coutries.

Recent block size debate and fact that consensus in important matters cant be made are holding back bitcoin success big time. I just hope that problem will be solved soon so Bitcoin can fly again.

it's more like the miners and merchants are not in agreement about the block size debate

satoshi should have leave the size to 2mb, so at this point there will be no issue about it

I think bitcoin will still succeed many years from now. The main aspect of its success is that bitcoin can completely fail and collapse, but still succeed if it brings change that sticks. Specificity I’m talking about the block chain tech that has evolved thanks to Bitcoin. What we have seemed to have forgotten is that the major innovation Satoshi Nakamoto brought us was the public distributed ledger known as the block chain and not just a virtual currency. But the block chain can be used for so much more. What is often referred to as alternative chain is a system that uses the block chain algorithm, but for non-financial purposes. It can be used to implement DNS, P2P currency exchange, API, SSL verification authorities, file storage and even a voting system.

Once people get over the fear of Bitcoin being anonymous and realize that the whole point of the block chain is that it’s public, people will open up to the idea of implanting the technology of Bitcoin. Bitcoin is uniquely pseudo-anonymous while being completely traceable.

Bitcoin will always be on the verge of success no matter what. It is the first digital currency and it always will be the most affordable one too. While many people fear in other altcoins but still they believe in btc because of its high transparency.

Yes exactly, many alt coins are disguised scams, many big altcoins got down in price like Paycoin, so even if the coin is in the top 5, it can go down.

Bitcoin is the only way to go forward. But if the conflict would stop, that would help btc/

There is no conflict between bitcoin & altcoins right now but there might be one in future.The altcoin prices are just intentional pumps and dumps not the market.They are helpful in a way.
People will use it when they feel use of it and see the possibilities which are more convincing than fiat.Bitcoin is a no go for many merchants,it depends.

Nobody know fo sure what will become from a bitcoin..
If you sell now maybe you will regret for a whole life, or maybe not?
 That instability holding back bitcoin..price manipulations..Nothing more!

I think altcoins are ok, because they have different roles and targed different audiences, but bitcoin is good for everone, so bitcoin gets most of the capital either way.

I would guess that speculation is a major factor. As long as the goal of traders is to make fiat currency from BTC then I see no reason for high valuations. When people begin to prefer it as a currency then we could see truly epic highs.

If he left the block size to 2MB, there will be even more dust in the block chain. I do not want to store that in my hard drive.

That's true, bitcoin is treated as a manipulated coin and that is the reason bitcoin is not  getting on mainstream and also the negative news spread by press and media have a great impact on bitcoin getting more successful.

what dust you're talking about? small fraction of bitcoin?, i'm sure there is a way to send them to the miners, or to retrieve them with an upgrade if this can be an issue

Maybe bitcoin is lacking support from the society, that  could be the major reason behind the bitcoin success, and we cannot say that bitcoin is totally failure as the users of bitcoins are increasing day by day, it will be more successful in future.

There is not much support from the general society. Most people do not know about bitcoin. More promotion is needed.

Yes, we got less support because only few know about bitcoin,, we really needed to spread word about it... we need to reach out to people in places where their technology was left behind by time..

Banks and governments are the main force that is holdfing back bitcoin's success.
Besides, bitcoin is still in its infancy and it is very complex for the average joe to use it as an every day currency!

That's true, banks and the governments are creating an issue with bitcoins, as they are not standing tall in support of bitcoins, unless this issue is not solved, people would hesitate in using bitcoins.

Yeah, if government makes is legal than majority of issue can be solved, but I don't see it happening in coming future, as if government support bitcoins then they cannot hold control over it.

What did the banks do to hold the bitcoin back? I think they have not done anything, they are just observing.

Bitcoin is banned only in few countries and the banks and governments don't hinder its adoption that much, it is all down to the people to use Bitcoin or not.

That is the one of the reason why people are not using bitcoins, and the other reason is the price of bitcoin is too volatile so people hesitate in investing their money into bitcoins at initial stage.

Bitcoin will be more worth later in the future. Just relax and wait what is going to happen.
If you are now looking at the value. You see that the value now is rising slowly and that is very good. People will get some profit later.