What does the cryptocurrency industry need?

[nelson4lov]

Everyone around here wants a regulation free environment. That is why many people moved to crypto as a safe haven for storing their life savings. Further growth of this space will be hampered should the news of regulations comes more frequently. So what do we need? Financial freedom.  That's what.

[MaleKing]

The simple fact that this industry is decentralized makes it VITAL for our society. For far too long corruption has ruined us.

[kokowannabe]

i think cryptocurrency the most need regulation in every Country, you look rightnow there is so much Country that banning Crypto, i dont know the reason but so much Country to that, and i hope situation like this will get better and better so Cryptocurrency will booming in the world and every country.

[jshark]

Not sure if many people will be on the same side as me on this, but in my opinion crypto currency needs a stable value. Of course BTC/ETH/alts all have their important uses at the present time but paying for things with an asset that can be worth 5% more or less in minutes just isn't viable.

The idea of investing in crypto is mind boggling when you really think about it. Everyone screams we need a decentralized currency but a HUGE % of those people are just invested in ___coin & want to see its value rise so they can cash out back to fiat. I'm holding BTC not because I believe in it taking over fiat, but because I believe it will continue making me money.

What we really need is a coin anyone can easily buy, has a static price to only be adjusted for inflation by some sort of distributed consensus, and of course it needs to be easily accessible/understandable to non technical person - it needs to be as easy as setting up a phone service account with AT&T and paying the bill.

I'm sure there's probably some alt coin that accomplishes some if not all of that, i haven't seen it yet.

[MaleKing]

So I was in my car earlier, daydreaming as normal thinking about the crypto industry and how fast it is moving, how its user base in general is growing and the new and upcoming technologies are hard to keep a track of. So I wanted to create this thread for us all to share our wildest innovations and ideas because I thought it would be an interesting read for many, im quite new to the industry as a whole and want to understand both the scope of it over the period over the next few decades, what is possible? Where is this all going? Whats your wildest most imaginative idea on what this industry is capable of? What do you think needs to improve? How can it be improved? What problems do you see that need to be solved?

Excited to hear your responses 

Main it needs to have it integrated to make easy purchases and easy payments. Faster and cheaper (much cheaper). Give the people that and you are king!

[Vladv26]

Probably one of the biggest problems of bitcoin is the volatility of the price and unfortunately I dont think this can be solved until all of the bitcoin will be mined, probably even then it is going to be hard because prople always buy and sell at a different price so it changes regularly. Why is this a big problem? Because for example if you own a shop and you sell products worth of 10000$ in bitcoin. Lets say 1 bitcoin costs 10.000$ at the moment people have buyed your products. On the end of the month/year you have to exchange that bitcoin into cash because cash is better but the price of 1 bitcoin fallen to 8000$ so your profit is going down with 2000$. Of course the price of one bitcoin could go up to 12.000$ and you have a bigger profit with 2000$ but the risk to to big and most of the shops dont want to assume this.

[Alexertor]

I think volatility is not the problem. The current system is.And the current system like the control, which is not so bad, but still.
We can not expect from world to stay the same for eternity, we are constantly changing, so let's change the financial sector.

[Miderian]

More protection. We can lose our money and there is nothing we could do.
So more protection on many levels.

[adifariz]

the need for bitcoin may be more media attention and more merchant acceptance, who will use it if no one will accept it as payment? Local exchanges will also help grow bitcoin. It also requires more developers to get behind it and really help its growth.bitcoins across the country.

[Xzhyte]

I think the acceptance of the governments and local banks would be a great milestone for cryptocurrency. Because more people will gain trust over it and more and more merchant are going to accept it.

[Powerman001]

Well, that's right. we do not have to think hard about a suitable industry later for this crypto. because it will be so many choices for us to be able to do development in the world of crypto. the most important support from all parties to the use of crypto in all countries. if it has been achieved, then do not be surprised if there is an industry popping up with crypto technology. imagine we pay with etherium as we use public toilets. it must be very cool.

[khai29]

They need a good investor and good management and also loyal promoter so that the cryptocurrency will more successful and fast growing.

[Lyd]

The cryptocurrency industry has a bright future ahead. It is well thought and in my opinion it needs only time. People need time to accept it in their lives

[bitbunnny]

At first, the main idea of bitcoin was technology that will make people free from regulations and taxes of States. Will remove corruption and make our lives more authorized. But it takes time.

I don't completely agree.
The efforts to remove corruption and to give the alternative to traditional financing, yes, but I don't agree about the part that the idea of crypto is to avoid regulation and taxes.
If that was true then we could say that idea of Bitcoin is to support anarchy and that is not true.

[asdalani]

More protection. We can lose our money and there is nothing we could do.
So more protection on many levels.

If you have more protection then you would have a regulated coin. No protection probably means that you are using a decentralized coin.

[Ranly123]

Everyone around here wants a regulation free environment. That is why many people moved to crypto as a safe haven for storing their life savings. Further growth of this space will be hampered should the news of regulations comes more frequently. So what do we need? Financial freedom.  That's what.

It maybe true that everyone in this community wants a regulation free environment but we cannot change the fact that the government is acting to have a regulation on cryptocurrency which is why many country started to regulate it. In accordance to the law people must pay taxes and that is the reason for regulation. It could be possible to regulate cryptocurrency so let it be rather than being banned.

[BrewMaster]

this "industry" is very new and because of that it is raw and full of opportunities. it needs lots of things from services to different businesses to start offering up what people need. and so far anybody who has moved first is not a big player in the field. you can see services like Coinbase, BitPay,... exchanges such as Bitstamp, Bitfinex, Kraken, Poloniex,... gambling sites like PrimeDice, Bitsler,... mixers like Chipmixer,... and a lot more. these are all first moves which are now big and we still need a lot more.

in my opinion it is best to have more decentralized services and they will be the biggest in the near future for sure. i have high hopes for projects like OpenBazaar for instance.

[Parwesh Chaudhary]

Two things I would say is needed:
1. Most of the people coming to this industry are immature and entering the industry for monetory gain. These are the people who panick very soon and start selling the coins. If these people are educated about the industry, the market would be stable, which would solve the major problem this industry is facing
2. Need to have a community to approve and give a score to the new coins and token being launched through ICOs. This would restrict fraud and instill investors trust in the cryptocurrencis.

I think if we can work on these two things (to start with), then this industry would be more trusted.

[Yarsk]

Funny thou please dream with care because it might be dangerous to daydream on the wheels.
Bitcoin need a lot of other things e.g general acceptability and wide spread knowledge about it usage in other to prevent people from being scam using bitcoin, advance technology that reduce transactions fees and speed up transactions confirmation. Beside this bitcoin also need media acceptability because in most cases the media is always against bitcoin.

[Jimmy palumbo]

This industry is still very immature, especially the ICO market, there are a lot of fraudulent ICO projects.
And exchanges have many unspoken rules because there are no rules to limit them.