What are the main problems bitcoiners face?

[error08]

Since every new site or new services are coming to earn unlimited money without hardwork So most of them are scam .
But in bitcoin only very less number is sites are legit .
And in bitcoin , I think no problem that i faced  but sometimes confirmation makes me worry .

I'm bit thinking about the new people who are getting to know bitcoins for the first time. Because these scam sites are keep on increasing.

So the people they are scamming and being there victims are becoming more and more as the day goes by.

This is I guess one of the problems that bitcoiners must be addressed.

Scam sites does have negative effects to bitcoin and makes user should be careful and do your own research before invest.
I think these kind of deception and hackers is the major problems that bitcoiners face. Moreover, another problems such as long confirmation wouldn't be matter as you can't cancel the transaction when it already sent.

[freedomgo]

Since every new site or new services are coming to earn unlimited money without hardwork So most of them are scam .
But in bitcoin only very less number is sites are legit .
And in bitcoin , I think no problem that i faced  but sometimes confirmation makes me worry .

I'm bit thinking about the new people who are getting to know bitcoins for the first time. Because these scam sites are keep on increasing.

So the people they are scamming and being there victims are becoming more and more as the day goes by.

This is I guess one of the problems that bitcoiners must be addressed.

Scam sites does have negative effects to bitcoin and makes user should be careful and do your own research before invest.
I think these kind of deception and hackers is the major problems that bitcoiners face. Moreover, another problems such as long confirmation wouldn't be matter as you can't cancel the transaction when it already sent.

They do but it's not bitcoin who told them to scam people. If fiat is use in illegal activities then bitcoin is also being use. It's normal, we can't control people.

[Adbitco]

I guess bitcoiners from the countries like mine face more problems than the ones from European or North American countries. Here even my friends don't know about bitcoin and if some of them do they don't take it seriously so I also find it difficult and have had a hard time finding referrals to the bitcoin programs which helped me earn whatever little bitcoin I earned I know this problem of mine might sound ridiculous to some of you but after all it's one of the problems which are faced by most of bitcoiners. Also there are problems like scam sites which I have also been victim of, not finding trustworthy people who I can exchange my digital money for my country's fiat currency etc etc. There are still more problems which I have personally experienced but above mentioned ones have been the biggest ones in my case.

[Invulner]

I am conducting a sort of survey on what we all see as problems in the bitcoin community.

I hope to spark an open discussion that eventually reaches a consensus.

We should probably focus on only the top 7, or maybe top 10, 5 etc...

What are the MAIN problems you face, or you have seen others face, with bitcoin?





I will list what I think are the top problems. NOTE that these are my personal opinions...
1. Still not adopted by enough of the masses to appear in local businesses
2. Too many god damn scam websites,
3. Coinbase closed my account for no reason, a law should exist to prevent businesses denying individuals key services
4. Coinbase currently is the only way to automatically send RECURRING bitcoin payments - recurring transactions a must
5. no transparent, openly white hat bounty hacker police for problem #2 - an internet police white hat hacker network would be nice

"Identifying problems leads to solutions to those problems.
I have the passion and drive to find people who can solve said problems.
Thank you for any input you may have to offer. Long live Bitcoin!"
~ The King

Probably sending bitcoin to buy actual physical goods or grocery on a day to day basis? Bitcoin is viewed as an investment channel rather than an actual currency right now. This needs to change and needs input from the bitcoin community.

Also the transaction fees are getting higher... Obviously still lower than WU but getting higher due to full blocks as well as higher BTC price.

[boyptc]

Since every new site or new services are coming to earn unlimited money without hardwork So most of them are scam .
But in bitcoin only very less number is sites are legit .
And in bitcoin , I think no problem that i faced  but sometimes confirmation makes me worry .

I'm bit thinking about the new people who are getting to know bitcoins for the first time. Because these scam sites are keep on increasing.

So the people they are scamming and being there victims are becoming more and more as the day goes by.

This is I guess one of the problems that bitcoiners must be addressed.

Scam sites does have negative effects to bitcoin and makes user should be careful and do your own research before invest.
I think these kind of deception and hackers is the major problems that bitcoiners face. Moreover, another problems such as long confirmation wouldn't be matter as you can't cancel the transaction when it already sent.

Surely it does have negative effects to the whole bitcoin ecosystem. For example, a newbie and aspiring bitcoin users wants to try bitcoin as his investments but he is lack of knowledge and suddenly gets invited to invest to a scam site. So what happened is that he gets disappointed and doesn't want to try to invest with bitcoin again after he got scammed.

[ardentvolcanoes]

Since every new site or new services are coming to earn unlimited money without hardwork So most of them are scam .
But in bitcoin only very less number is sites are legit .
And in bitcoin , I think no problem that i faced  but sometimes confirmation makes me worry .

I'm bit thinking about the new people who are getting to know bitcoins for the first time. Because these scam sites are keep on increasing.

So the people they are scamming and being there victims are becoming more and more as the day goes by.

This is I guess one of the problems that bitcoiners must be addressed.

well that was the problem of other people on their own and not their problem on using bitcoin. bitcoin is not responsible in any lost of people who got scammed because bitcoin doesn't want these people to be scammed and those fraud to deceive other people.

[Wandering Soul~]

Since every new site or new services are coming to earn unlimited money without hardwork So most of them are scam .
But in bitcoin only very less number is sites are legit .
And in bitcoin , I think no problem that i faced  but sometimes confirmation makes me worry .

I'm bit thinking about the new people who are getting to know bitcoins for the first time. Because these scam sites are keep on increasing.

So the people they are scamming and being there victims are becoming more and more as the day goes by.

This is I guess one of the problems that bitcoiners must be addressed.

well that was the problem of other people on their own and not their problem on using bitcoin. bitcoin is not responsible in any lost of people who got scammed because bitcoin doesn't want these people to be scammed and those fraud to deceive other people.

Even now there are still bitcoin users who knows how to transact with bitcoins but doesn't really know what it is .  Almost all of them thinks that bitcoin is a magic to make money fast, That's why the scammers are taking advantage of them .

Scamming is the thing that has existed for a long time ago but in bitcoins, it just keeps increasing to the point that it becomes disturbing and annoying .

So the main problem is the people joining scam sites, Scam sites can quickly close its business if it doesn't have a customer that get tricked .

[serjent05]

Since every new site or new services are coming to earn unlimited money without hardwork So most of them are scam .
But in bitcoin only very less number is sites are legit .
And in bitcoin , I think no problem that i faced  but sometimes confirmation makes me worry .

I'm bit thinking about the new people who are getting to know bitcoins for the first time. Because these scam sites are keep on increasing.

So the people they are scamming and being there victims are becoming more and more as the day goes by.

This is I guess one of the problems that bitcoiners must be addressed.

well that was the problem of other people on their own and not their problem on using bitcoin. bitcoin is not responsible in any lost of people who got scammed because bitcoin doesn't want these people to be scammed and those fraud to deceive other people.

Even if this is not the problem of bitcoin at first hand, it gives negative impact to bitcoin itself and eventually it gives bitcoin a negative thought and make new user avoid it because of false belief made by scam companies that uses bitcoin as bait to exploit people's greed.  This will somehow hinders bitcoin mass adoption.

[rababo]

For me, my main problem with bitcoin is bitcoin still lack of adoption. I can't spend bitcoin freely as for payment. There're not many online/offline stores that accept bitcoin as their payment, especially in my country.

[deisik]

Even if this is not the problem of bitcoin at first hand, it gives negative impact to bitcoin itself and eventually it gives bitcoin a negative thought and make new user avoid it because of false belief made by scam companies that uses bitcoin as bait to exploit people's greed.  This will somehow hinders bitcoin mass adoption.

This is mainly because scam sites are usually among the first to pick up various innovations. Unlike real merchants, they are not going to lose much, anyway, even if Bitcoin fails in the end. This is also true in regard to other illegal activities where Bitcoin is thought to be involved. Their profit margins are very high, for example, thousands of percentages for drug trafficking, while Bitcoin gives them enough anonymity as well as a lot of other benefits, and thus they don't particularly care it survives or not in the long term...

Legitimate vendors, on the other hand, don't need as much anonymity as stability and predictability of the coin

[DimensionZ]

Legitimate vendors don't need stability or predictability of Bitcoin because they convert their Bitcoin profits back to fiat on the spot. I don't think Steam or Overstock or any other online vendor for that matter care much about how unstable Bitcoin is right now because they exchange these digital tokens for hard cash in their bank accounts. They use Bitcoin to get more paying clients and that's all.

[xSkylarx]

The main problems for us is the difficulty of bitcoin to convert it to fiat. Like in my age under 18, it's difficult for me to convert it. I need to go to some remittances or have a credit card to convert it which is very bothersome at my age. If i really need some cash i ask my friend who is also a bitcoiner too(older than me) to give me some cash and i'll exchange it with bitcoin.

[clickerz]

well that was the problem of other people on their own and not their problem on using bitcoin. bitcoin is not responsible in any lost of people who got scammed because bitcoin doesn't want these people to be scammed and those fraud to deceive other people.

Correct, and same with fiat there are also investment scam in real life. Too bad that with bitcoin you can not run after the perpetrators after they scammed you. Unlike in fiat that you can have some documents etc.

Since bitcoin is as good as cash, like cash we must be very careful also when dealing with HYIP especially with internet.

[deisik]

well that was the problem of other people on their own and not their problem on using bitcoin. bitcoin is not responsible in any lost of people who got scammed because bitcoin doesn't want these people to be scammed and those fraud to deceive other people.

Correct, and same with fiat there are also investment scam in real life. Too bad that with bitcoin you can not run after the perpetrators after they scammed you. Unlike in fiat that you can have some documents etc.

Since bitcoin is as good as cash, like cash we must be very careful also when dealing with HYIP especially with internet.

Some big time scammers have been caught in the end. For example, Bernard Madoff of the Wall Street fame ended up in prison sentenced to 10 years for allegedly stealing $65 billions from his clients, but many still managed to get away with it and their clients money. I haven't heard that anyone behind the notoriously known Nigerian e-mail scams had been caught and put behind the bars. That begs the question, namely, how often scammers in real life get caught to make such scams differ greatly from Bitcoin ones in this regard?

I guess the difference is inconsequential for the most part

[romero121]

Lot scamming websites coming into existence with the name of bitcoin. This doesn't make difference between the trusted website and the scam. Because of this lot has lost their hard earnings. Another thing is the acceptance, users feel convenient with bitcoin for all their transaction and shopping, but lot time and adoption is required to make it mainstream and get more acceptance among local businesses.

[Potato Chips]

There are many problems that most bitcoiners face but the most common one is the very few number of companies who accepts bitcoin as a payment and also the people who are aware of it are also limited.

My prediction is in the future, bitcoin will be recognized by many people and many companies will accept it as a mode of payment.

[1Referee]

There are many problems that most bitcoiners face but the most common one is the very few number of companies who accepts bitcoin as a payment and also the people who are aware of it are also limited.

My prediction is in the future, bitcoin will be recognized by many people and many companies will accept it as a mode of payment.

It basically doesn't really matter whether or not a lot businesses are accepting Bitcoin as payment option. People don't have much incentive to spend their coins as they treat Bitcoin far more as an investment tool rather than a currency tool. In that regard, even if there is a huge influx of businesses accepting Bitcoin in the coming years, they will notice that this payment option will not see much usage. Especially when you consider that the average joe type of people mostly give the prefference to PayPal and Mastercard & Co when it comes to completing purchases. Demand will come from people looking to escape the governmental/banking system, people looking for an investment, store of value, etc.

[deisik]

There are many problems that most bitcoiners face but the most common one is the very few number of companies who accepts bitcoin as a payment and also the people who are aware of it are also limited.

My prediction is in the future, bitcoin will be recognized by many people and many companies will accept it as a mode of payment.

It basically doesn't really matter whether or not a lot businesses are accepting Bitcoin as payment option. People don't have much incentive to spend their coins as they treat Bitcoin far more as an investment tool rather than a currency tool. In that regard, even if there is a huge influx of businesses accepting Bitcoin in the coming years, they will notice that this payment option will not see much usage. Especially when you consider that the average joe type of people mostly give the prefference to PayPal and Mastercard & Co when it comes to completing purchases. Demand will come from people looking to escape the governmental/banking system, people looking for an investment, store of value, etc.

This is only partially true

First, we don't know that for sure. Personally, I would rather keep my bitcoins than spend them on trifle things and food (and advise everyone to do the same). There is fiat and bank cards that I'm quite happy with for the most time as of now. But not all people are like me, though I heavily suspect that many are. Second, the first doesn't actually matter. Bitcoin as a means of payment used by merchants and businesses would make sense only if the loop is closed. So even if they start accepting payments in bitcoins but convert the proceeds later back to fiat, this won't change a thing in the end. On the other hand, if businesses start paying their own bills as well as wages with bitcoins, those who receive these bitcoins will most likely use them as a means of payment, not as an investment vehicle. And that seems to be the crux of the matter

[bluefirecorp]

i think decreasing of bitcoin price is the main reason because if someone buy bitcoin in huge amount and then hold it for high price and suddenly the bitcoin price drop to half value then they will be get a big lost.

[prabowo96]

People that associate bitcoin with easy money.

Other day I saw a scheme where the guys plotted a lot of cars with the bitcoin logo and they are a ponzi scheme that "sell" hair products or something like that, imagine it for a people that never saw bitcoin what, just weird.