What do you think might be holding back Bitcoin's success?

[piotrgal]

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...

[1715573498]

1715573498

[boby-1]

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

[glerand]

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

[justspare]

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.

[Rizky Aditya]

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

[DrLove2048]

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...

[ausbit]

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

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.

[mobnepal]

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.

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.

[davinchi]

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

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.

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.

[nonbody]

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.

[Maxsumi]

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

[Blind Legs Parker]

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

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.

[Labumi]

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

[owm123]

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.

[flagpara]

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!

[chokesir]

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.

[bitlancr]

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.

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.

[Newcoins2020]

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.

[Bitcoinbro]

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

[Kevin77]

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

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.

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.