The future of cryptocurrencies UNWSF

[user2304]

Hello  ,
I will have a discussion about the future of cryptocurrencies.
I hope it is useful to all.
Through this topic I will try to best represent the cryptocurrencies and blockchain technology and extract the data from the most interesting answers in an international survey that I intend to do.
Thanks to everyone who will write about this topic in advance!

[user2304]

In your opinion, are there any mechanisms to control the price of Bitcoin and other cryptocurrencies?
What are the challenges that you see when using crypto?   

[acdc]

I think that in the future, the cryptocurrency market will take an important step forward, blockchian technology will develop more and governments will loosen the way of regulating blockchian technology.
Perhaps in the future governments around the world will issue their own currencies.

[user2304]

I completely agree. It is even possible in the near future to issue individual crypto currencies for each individual. Just imagine - the currency you can create for a particular payment or purpose. For example, if you give money to a charity. You will know how much money is your share of buying a medical intubator, for example.

[user2304]

What are the challenges that you see when using crypto?   
Because it seems to me that we are still in the initial phase of development and the road is not that short. In my opinion, there are challenges in the field of centralization and data control. And also regarding legal adoption.

[kryptqnick]

What are the challenges that you see when using crypto?   
Because it seems to me that we are still in the initial phase of development and the road is not that short. In my opinion, there are challenges in the field of centralization and data control. And also regarding legal adoption.

Could you explain what UNWSF means?
When I use Bitcoin, I don't see any difficulties in the process. What I am afraid of is various malware that can lead to me losing my money but I try to be cautious. A serious challenge is transaction fees when the network is quite busy. Up to a dollar - sure, no problem; a few dollars - well, that's significant; $20 - wow, what? So it's not a problem now, but it used to be one and can be one in the future. Small transactions can be challenging because of the fees.

I completely agree. It is even possible in the near future to issue individual crypto currencies for each individual. Just imagine - the currency you can create for a particular payment or purpose. For example, if you give money to a charity. You will know how much money is your share of buying a medical intubator, for example.

I think this trend of tons of tokens for different purposes is over. What's the point of making a token when you can use well-established cryptocurrency? And individual tokens don't make sense to me because they won't be able to function properly as a medium of exchange. My token will be worthless to other people and vice versa, and money has to be something people are willing to take for goods and services because they know they can then exchange it for other goods and services.

[salamat700]

What are the challenges that you see when using crypto?   
Because it seems to me that we are still in the initial phase of development and the road is not that short. In my opinion, there are challenges in the field of centralization and data control. And also regarding legal adoption.

As of now, there are many challenges that cryptocurrency is facing. One, there is that perceived lack of scalability most specifically Bitcoin preventing it to become a global payment platform as it should be, though I would say that being a store of value can really be its main trait (and there is nothing wrong with that). Two, many governments will not easily let go of the control they have over their country’s economies and many are convinced that cryptocurrency as a whole can be representing a threat to them. Three, many people are still associating cryptocurrency with scams, frauds and something that they should avoid (though this is slowly improving in many fronts). Fourth, there is that big and one-sided emphasis of cryptocurrency as a speculative tool and though there is nothing wrong with this per se it is making things myopic, in my opinion.

[acroman08]

What are the challenges that you see when using crypto?   
Because it seems to me that we are still in the initial phase of development and the road is not that short. In my opinion, there are challenges in the field of centralization and data control. And also regarding legal adoption.

other than what kryptqnick mentioned. limited usage. I mean in order for you to fully use bitcoin to buy things that you need you still have to exchange it into local currency. although there are stores that accept bitcoin directly as payment most of them are just luxury or non-essential items for daily use.

also, @OP I suggest refraining yourself from posting multiple times in a row it's against the forum rules(quoted below) and will result on your thread/topic deleted.

32. Posting multiple posts in a row (excluding bumps and reserved posts by the thread starter) is not allowed.

[avikz]

What do you mean by UNWSF?

In your opinion, are there any mechanisms to control the price of Bitcoin and other cryptocurrencies?
What are the challenges that you see when using crypto?   

Nothing that we are aware of! Crypto market is unregulated and there's no way some single entity can control any attributes of it. It's a free market so it doesn't follow a certain set of rules either. So the price of bitcoin is controlled by anyone.

There are many challenges in cryptos, like slow transaction confirmation, low merchant adoption, volatile price and so on. But what exactly you are trying to know?

[jago25_98]

The future of cryptocurrencies will continue to grow. Mass adoption is around the corner. Look at everything that is happening in the world.
Explained this topic quite a few times in several videos. Debt/GDP ratios, money printing, COVID-19, Trade Wars, Velocity M2 money supply and so on.

Check it out if you're interested on the channel: https://www.youtube.com/channel/UCpVFVb5ACbRfmZxKgb5CFcQ
Latest video: https://youtu.be/e2_L7YHS-bU

[Harlot]

Is UNWSF some kind of convention or forum that happens internationally and you are some kind of reprsentative/speaker there? Because if you are, you are already doing a bad job at your spot, being picked into something without even having an idea how to start things up will just put you into a bad position. Even if we give you ideas right now without knowing what you are talking about in the stage then you will be dumbfounded will all the questions/rebuttals the other sides will give you. If you have someone more competent to take in your place I would advice to do so, but if no one is willing to take your place then just back out of it if you still have time.

[Kakmakr]

What are the challenges that you see when using crypto?  
Because it seems to me that we are still in the initial phase of development and the road is not that short. In my opinion, there are challenges in the field of centralization and data control. And also regarding legal adoption.

What is UNWSF? - NSFW = "not safe for work" or SFW = "Safe for Work" ...so what is UNWSF?

Also edit your original first post and give a detailed explanation on what you are trying to accomplish with this discussion. I will answer one of the questions you posted, namely "What are the challenges that you see when using crypto?" :

1. Merchant adoption of Crypto currencies are still limited.
2. Price volatility is a problem for merchant adoption.
3. Crypto currency adoption is still small, so there are not enough motivation for merchants to adopt it.
4. A lot of these Crypto Currencies are scam coins (Pump&Dump / Ponzi schemes)
5. The need for people to link Fiat value to Crypto currency value and subsequently having to convert to and from Fiat currencies.
6. Adoption is not aggressively marketed by anyone, but more based on word of mouth.
7. Political push back (Governments are protecting their Fiat currencies)

These are just some of the challenges that are causing problems with the global use of Crypto currencies.    

[Onuohakk]

Every informed person needs to know about bitcoin because it might be one of the world's most important developments.
Bitcoin will do to bank what email did to postal industry.
We're now in global digitalization