Bitcoin issues

[Huobi-USD]

What's the most difficult you have had to deal in the bitcoin world??
I mean, people or stores don't accept bitcoin like a way of payment?
The volatility of the price?
Tell us more about your own experience

[ivanst776]

It is already a post about this but ok, the issue with bitcoin is the price itself, not to much places to spent etc.

[n691309]

The issue at the moment (which i think will be solved in near future) is that when i drink the morning coffee i want to pay it with my phone wallet. Another issue is that bitcoin is not much popular.

[kyrios_]

I think it's due to difficulty of understanding the nature of Bitcoin leading to low adoption rate. also, it's not exactly easy to obtain Bitcoin in certain places

[n691309]

I think it's due to difficulty of understanding the nature of Bitcoin leading to low adoption rate. also, it's not exactly easy to obtain Bitcoin in certain places

Buying/selling bitcoin is easy for top economy countries but for others i think that the best way is to meet someone in person and deal, otherwise the fees on many websites are high and required lots of verification.

[ranochigo]

Possibly the volatility when holding Bitcoins for the sole reason of using it for transaction. I always have to buy a slight more BTC as the price can go up or down and I would have to pay more BTC for the same amount of things at different times. Well, I guess volatility is great if it has a upward trend.

I find no reason for using it in physical stores. Most stores uses BitPay which allows merchants to transfer Bitcoin into USD without the risk of volatility and allows payments to be completed without confirmations.

[n2004al]

What's the most difficult you have had to deal in the bitcoin world??
I mean, people or stores don't accept bitcoin like a way of payment?
The volatility of the price?
Tell us more about your own experience

For sure for me has been (is) the volatility of the price. This it is not seen in the personal view (even this has its importance). But in overall situation of bitcoin. Being volatile mean being unreliable as a currency. No one can have faith (except the devoted people) in an currency which within one week or a little more gain 100% in value and then loss about 70%-80% of it within another week. For more having as a tendency the further decrease. I know that this has its objective reasons but it is a fact that, since the day in which will disappear (or it will be less more), will classify bitcoin only as a curiosity and a big invention but not as a good currency.

[Amph]

all comes from the fact of the lacking of adoption

hard to use for the majority = because there is not enough adoption and people have not interest in learning as a result

no shops that accept it all around the word in a large scale = because again the lack of adoption

few merchant = lack of adoption etc...

[SFR10]

The most difficult issues that I had so far, was in convincing a buyer to pay me directly by bitcoin rather than the traditional way of sending the funds to my bank accounts which at that moment I needed bitcoin and had to go over some further steps just to convert it in bitcoin mainly due to the fact that the guy wasn't so techy and the other issue I had was, I saved some amount on my wallet and wanted to exchange it to my bank account funds therefore since it was night, I had to wait til the morning so I could do this process and when I woke up, the rate was so much lower within few hours and I was at lost on that moment

[mocacinno]

The only big problem i ran into when starting out, was buying bitcoins...

For a newbie, it's just not clear where to buy bitcoins without getting scammed.

Offcourse, now i know where to buy them, but i think this is a serious problem if we ever want to go mainstream.

[superresistant]

 
The only real problem of Bitcoin is its fungibility.

[FrostStick]

Sometimes I get some Paypal or Credit card funds that I want to spend on buying bitcoins but it's just so hard to get a deal or even someone that is interested in dealing with you. Even if they do they'll ask you a series of questions and ask for your ID, the photo of the card, etc. Definitely the most inconvenient thing I had to do with.

[1Referee]

The only real difficulty for me at this point are the shitty exchanges we have to deal with. The other thing that I would like to see be different, but it's not critical at all, are the confirmation times. I have done some real life transactions this week, and I had to wait 35 minutes outside to receive 1 confirmation. And we all know it can even take up to an hour for a single confirmation.

[ranochigo]

Yeah you right, Still nothing store accept bitcoin except online store.
And if bitcoin wants to be accepted in shops, confirmation in bitcoin should be faster.

There are plenty of physical stores accepting Bitcoin. Most not requiring confirmations at all. Main reason for confirmation needed at online stores is due to the fact that your identity can't be identified and hence open the gaps for scamming attempts. Otherwise, no confirmation is even needed, just like what Bitpay allows.

[Blue_Tiger73]

It is already a post about this but ok, the issue with bitcoin is the price itself, not to much places to spent etc.

The price of Bitcoin is stabilising so the price part is soon not becoming such an issue.  Also, quite a few major online stores accept Bitcoin so that issue is also reducing as the demand of Bitcoin is increasing and more people are starting to learn about Bitcoin.

[Blue_Tiger73]

Yeah you right, Still nothing store accept bitcoin except online store.
And if bitcoin wants to be accepted in shops, confirmation in bitcoin should be faster.

There are plenty of physical stores accepting Bitcoin. Most not requiring confirmations at all. Main reason for confirmation needed at online stores is due to the fact that your identity can't be identified and hence open the gaps for scamming attempts. Otherwise, no confirmation is even needed, just like what Bitpay allows.

There is also a really good online store with millions of products. You can find that website here. The only problem is that it only ships to America, so if you don't live in America this won't work for you.

[unamis76]

The only issue I've really had is lack of acceptance... Other than that I haven't had any hindrance or problem using Bitcoin I don't think volatility is an issue... It's pretty easy when you need to buy something, you just buy it Or if you don't need it immediately you wait for a price move

[Blue_Tiger73]

My biggest problem with Bitcoin is definitely the transaction times. Most of my transactions are processed in around 10 minutes. The only problem is that some of the transactions take around 3 or 4 hours which is too long to wait for.

[mocacinno]

My biggest problem with Bitcoin is definitely the transaction times. Most of my transactions are processed in around 10 minutes. The only problem is that some of the transactions take around 3 or 4 hours which is too long to wait for.

3-4 hours is really long... Do you add enough miner fees?
To little fees is the only reason i can image, otherwise your transaction should be included in 10-20 minutes max...

[Mickeyb]

For me there are two main issues. Difficult to obtain, especially for the new people. That's why I had to use Virwox when I first got involved with Bitcoin and those bastards have taken quite a lot of money on fees from me.

Second thing is that Bitcoin is still difficult to secure properly for the new people. There are too many bad practices that newbies are doing over and over again.

Of course with time we will progress in these two fields as well.