What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink
I think the biggest draw back to accepting bitcoin as a means of payment (outside the legal issues and most government anti-bitcoin stance) is the fact that bitcoin is a volatile asset.Volatility is a major issue.I buyer/merchant want to be sure of the value of his means of payment at the end of each business day so bitcoin may not serve that purpose as you can a 15 per cent swing in just 24 hours.The other issues is the transaction fee,this was a major issue late last year and early this year when transaction fees became astronomical.People will not use bitcoin or accept it if they are paying too much just for transfers |
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You made some valid points but contrary to the general tone of your writeup,i generally believe bitcoin has a very bright future.The awareness is growing by the day.It may have started out as a joke and used by criminals,the central idea of bitcoins has not changed-that is creating a currency that is people-controlled and government as opposed to the government.Bitcoin may not be the most efficient crypto-currency but it is sure the most trusted and most widely accepted and will remain so because it has the first-movers advantage and people will always attach sentimental value to bitcoins.I see a very bright future for bitcoins
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Thank you very much,this is like a one-stop place for all the stuffs i have been looking for as a newbie looking for a place i can earn some free altcoins that are being offered by way of bounties and airdrops.I will add to the list of few i already got.You can add bountyhive.io to the list,it is a nice platform but with limited campaigns.Thanks once more
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Does it make sense to believe that Bitcoin could one day be replaced by another cryptocurrency, that is, a cryptocurrency that really does make Bitcoin obsolete?
bitcoin is amazing and is the first cryptocurrency,basically defines what cryptocurrency is.However,in terms of efficiency,bitcoin is really primitive and can easy fall behind in the future when cryptocurrencies have really gone advance,unless of course bitcoin keeps up with constant improvement-BIPs.Lets face it,our earliest phone are now obsolete.same could happen and likely happens to every new technology.The price of bitcoin now is more of its sentimental value or first-mover advantage.That can be lost |
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basically bitcoin is created as digital money in the hope that it can be used as a means of payment but many obstacles to receive bitcoin as a medium of paying so until now more bitcoin is used for trading than as a means of payment
You are very correct.Exactly my point also.The volatility is too high for it to be use ascurrency.It is more of an asset or a store of value than it is a currency.This is why some merchants are reluctant in accepting bitcoin payment because they are not sure if the value will drop by the end of business day or if it will increase.They rather just use fiat and avoid the headaches associated with voaltility.It doesnt in anyway mean btc is bad,it only means it still need to grow to be a better currency option. |
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I am a newbie in Bitcoin Forum.I know some of the most important uses of Bitcoin.They are:
1.You can buy a flight ticket.
2.You can rent a hotel room.
3.you can buy pizza and other food related goods.
4.You can use it as a investment vehicle because bitcoin will continue to grow in value.
I want to know other important uses of it.
The most common use of bitcoin is as a store f value or investment vehicle.People generally buy bitcoin so that they can make some cash from it.Buy low,sell high.Basically trade.bitcoin still has some milestone to cross before it can generally be used as a currency.So for now,it is more of an asset than it is a currency.The volatility makes it difficult to use as a currency. |
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Is Satoshi is dead,If not where is he now and what is he doing right now..Bitcoin price is down sharply. Can he do something?
Satoshi cannot influence the price of bitcoin as the price is determined by price investors are willing to pay for it. Even development of bitcoin is no longer a one-man's job.He may have invented bitcoin but have little control over its price especially as he/they remained anonymous |
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Bitcoin is notorious in the public consciousness and within investing circles for being a particularly volatile currency. However, as wildly variant peaks and troughs have been reported since its inception at the beginning of the decade, it has managed to withstand a lot. Currently, Bitcoin is showing signs of recovering after some tough weeks and months, and it may be worth preparing for another Bitcoin boom in the very near future.
What is Bitcoin worth right now?
Bitcoin seems to be doing relatively well at the beginning of this month. It seems to be going up to at least $10,000 right now. When it hits $20,000 that’s when things are likely to take off and Bitcoin will dominate the news cycle all over again. When this happens, many more people will be interested in investing their time and money in Bitcoin.
How well is Bitcoin doing compared to other cryptocurrencies?
Bitcoin’s share of the market currently stands at 42%, which is a very strong number. Indeed, the cryptocurrency has managed to retain dominance despite competitors offering more functions and innovation, proving that people have confidence in the Bitcoin name. Currently, Bitcoin is experiencing its highest market share since December, demonstrating the early signs that people are reacting to its regaining strength.
How can we prove that Bitcoin is improving?
Like all forecasts, any predictions made are merely speculative. However, there are signs to give potential Bitcoin investors lots of hope. Firstly, its exponential moving average, or EMA, is stronger than it has been for two months. Secondly, it is showing a supertrend (a fairly reliable signal) that suggests people should be buying in to Bitcoin. Again, this has not happened for around two months.
Overall, things are looking up for Bitcoin, and it may be worth your while keeping an eye on it before lucrative investment opportunities are missed.
It seem very likely the price will explode sooner than later.Coin market cap already shows a significant bullish trend in the last couple of days.and a lot of positive news coming in |
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How many of you use Tether to hide away from the dips? I never did personally and wonder if its safe and worthy to have some tether not to lose value in USD. I have heard that Tether is backed by the equivalent amount in USD (aroung 2 billion $). Is it the case?
There are some issues as to whether Tether is fully backed by USD as audit report are still sort of pending and a lot of controversies as to its integrity.My suggestion is not to leave all your money in tether during a dip.maybe just some part to spread your risk.The allegation against tether may all be false,it is good to take precautions just in case they are not. |
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Akasha is going to destroy all known social media. Its going to change the world same as ethereum and this will be the new world order for social media.
They are earning money from users and not sharing the profits. Akasha is coming to change the world.
That is very interesting.Is it currently doing token sale/ ICO? |
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It will take quite some time for that to happen as most persons have only just heard about cryptocurrency and do not really understand how it works.Steemit for example has been doing a great job but it is still not mainstream.I hope cryptocurrency grows to that stage where it can actually affect facebook and spread the money among content creators rather than being directed to a small group of persons
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Why is Ripple XRP going down? Price prediction 2018.
Any more suggestion to buy it or else ripple will rise again.
XRP showed some appreciation today.Market cap is currently about 28 billion USD as the crypto-market seem to be recovering gradually. |
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Is this project related to MMM by Sergey Mavrodi or is it an independent project cashing-in on MMM large community?
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I guess this is for Catalans only or is the ecosystem open to other users from other parts of the world.Limiting it to just the Catalan will diminish the potential of the project
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Mossland is a project that is well planned.The concept is amazing and will find real application or usage as the AR/VR industry grows-that is a multibillion-dollar industry.Their website is really catchy with nice photos.
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oops, so sad i missed this ICO.i got the date wrong.it is an amazing project.I guess i will just have to wait for it to be listed on the exchange to make my purchase.Sp8de ico price was a good buy.Kudos to the team
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Is project only restricted to the Caribbean or is it open to all, irrespective of geographical location?seem great
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Obviously the main reason is governments want to tax you. Second is to protect banks. Somewhere waaayyy last is an attempt to "protect" people from losing money from scams.
Don't worry, most countries will realize that banning Bitcoin is pointless. Most are even going in the opposite direction and encouraging Bitcoin. You see localities that may accept taxes in Bitcoin.
You are right on point, eventually, most government will come to accept bitcoins as a legal tender and find a way to regulate it so as to collect tax from it .It may take time but the world is tending towards a decentralized system |
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Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.
Thank You
I think the underlying reason is control.The government and its various agencies cannot exercise full authority and thus leadership without some measure of control over its citizens.Crypto-currencies sorts of disrupts this balance because of its decentralized nature.If they cannot control it, then they cannot take taxes from it nor can they restrict its use in certain activities the government considers foul play.e.g money laundry.Hence the hostile approach by some government |
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I am interested in this project, when will the ICO commence, please?
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