Very difficult for the wider public audience to embrace this technology or even use it in the retail and commercial environment if the joining process alone is this complicated and difficult. Time is money. Waiting a month or longer is simply not a tenable solution. The technology itself is a near-perfect payment system (if not an already perfect one) but the way it is used and managed is far from perfect. Addressing the risks and imperfections, including the risks of fraud and scams which are the core causes of all these complicated procedures, might be an important step in changing the landscape.
The question is how to achieve real changes and manage or minimize risks. Introducing new irreversible fraud-proof payment methods? Regulating bitcoin or those entities trading it?
@warningsigns A.K.A. David Schawartz? Is that you lol?? That response would have me fooled
You're right, the tech is dead on, but the infrastructure to implement is far off. Listen, I know it's been a wild ride for all the major exchanges, and keeping up with the exponentially increasing demand would be impossible for just about any entity...cept maybe Amazon
I'm just asking for (and so are thousands and thousands of us) just a little more transparency from all the major players. The hooey statement given by BITSTAMP in regards to account verification is "up to 2 weeks". GATEHUB is saying "up to 10 business days". Well I've been waiting significantly longer with both options. KRAKEN and BITTREX are no longer accepting new registrations. BITFINEX will only accept you if you deposit $10,000 USD or more (talk about "centralized control of an economy"). COINBASE and BINANCE don't offer my preferred currency pair. And I'm sorry, but I don't have much trust in the hundreds of other "cryptocurrency exchanges" that aren't widely accepted and/or accredited...I'm not going to trust my portfolio in the hands of CletusCoin (sorry if that's a real thing).
I'm really not trying to bash on any major exchange here....but for the love of God, just be real with us!!
I know everyone is busting their ass to keep up with demand, please just don't flood us with unrealistic expectations. I would much rather an exchange or wallet service tell me that due to the massive recent interest in crypto trading, new account verifications are ranging anywhere between 2-6 months to process. I agree, it's not a tenable solution, but at least it would be honest. And it would save me from logging on every other hour or so, to see if any progress has been made.
I WILL CONTINUE TO WAIT, AS I CAN VERY MUCH SEE AND RECOGNIZE THE LONG-TERM POTENTIAL HERE...I (AND MANY OTHERS) ARE NOT GOING ANYWHERE.
I was just very much looking to get in during this latest crypto pullback, but I don't think that is going to be possible. I'm going to buy my preferred digital currency, at pretty much whatever price I can get it at. I will continue to buy and add to my position during retracement periods. I will continue to buy and add to my position on the way up. I actually don't intend to sell any digital assets I require for many years to come. I just am very much wanting to be apart of this market...and it really sucks not being able to.
Asset appreciation requires active market participation...and guess what...we aren't being allowed to participate.
