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Author Topic: What cryptocurrency needs most nowadays  (Read 385 times)
mrcash02
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April 11, 2018, 04:18:25 PM
 #21

There are already some decentralized exchanges, but they aren't popular at this moment, maybe because they are young yet or because people are very confortable with their operations at centralized exchanges. I think it's upon to each one to choose what is better for them, a centralized or decentralized platform. The important is to have different options to choose and to try. I believe what Crypto-Currency needs the most is to continue being developed technologically.

We are talking about decentralization but there’s a problem that prevents us from a pure decentralization. What is it? Exchanges!
Only Bitfinex hold 1% of the Bitcoin’s supply which is way too much, instead of decentralization we see a centralization over here.

Decentralization makes this possible not only for an exchange, but for anyone who manages to accumulate such amounts of the total supply. The pure decentralization is an utopia. Decentralization can be the perfect tool to achieve the centralization by some individuals.

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April 12, 2018, 08:15:53 AM
 #22

Yes, centralization of exchanges is a huge problem for bitcoin right now.

I have no idea how decentralization of exchanges can occur effectively without the same fate as current decentralized exchanges which essentially have close to 0 volume, and very limited trading pairs(usually limited to native tokens, etc.). But as regulations tighten, either decentralized exchanges or P2P trading will start gaining relevance as centralized exchanges just don't work anymore with these tightened regulations.

But that's not the only thing BTC needs. I think what we should really see and need right now is a growth in the amount of merchants accepting bitcoin, so that BTC is not considered as just a speculative token.

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April 12, 2018, 08:23:07 AM
 #23

This is good but the hackers and scammers are taking the advantages of the decentralization nature of cryptocurrrencies and they are using it to commit crime. A centralized system always helps in resolved most of the issues since some of them has started using kyc.

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April 12, 2018, 08:44:42 AM
 #24

If indeed it's more well responded till being supported, surely whatever anything shortcomings on it., it will be assisted or more supported by certain people or certain parties. And well for me this point is related to the acceptance of crypto in various countries governments till can be able to direct it on the things that are more of a build up over its development from time to time.
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April 12, 2018, 08:54:50 AM
 #25

Most cryptocurrencies just need good support and loyal investors for the projects to grow. If there is no support then the coin dies because then it no longer has any value if no one is buying it.
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April 12, 2018, 09:06:16 AM
 #26

I think cryptocurrency needs to be accepted as a real currency on a governmental level
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April 12, 2018, 09:53:42 AM
 #27

Maybe more advertisement so we will have more retailers that will accept Bitcoin. Hope it will reach on public transport here in the Philippines and accept Bitcoin for transportation. By doing that it will lessen who carry fiat in the streets and it lower the robbery crimes in the streets here. Just a thought.

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April 12, 2018, 10:08:23 AM
 #28

Do you like governments getting involved with blockchain? Could be good for blockchain to become more legit, but we know governments are also very good at messing things up sometimes...
https://coincodex.com/article/1514/22-european-countries-form-blockchain-partnership/
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April 15, 2018, 11:39:01 AM
 #29

There are already some decentralized exchanges, but they aren't popular at this moment, maybe because they are young yet or because people are very confortable with their operations at centralized exchanges. I think it's upon to each one to choose what is better for them, a centralized or decentralized platform. The important is to have different options to choose and to try. I believe what Crypto-Currency needs the most is to continue being developed technologically.

We are talking about decentralization but there’s a problem that prevents us from a pure decentralization. What is it? Exchanges!
Only Bitfinex hold 1% of the Bitcoin’s supply which is way too much, instead of decentralization we see a centralization over here.

Decentralization makes this possible not only for an exchange, but for anyone who manages to accumulate such amounts of the total supply. The pure decentralization is an utopia. Decentralization can be the perfect tool to achieve the centralization by some individuals.
That is absolutely fine. Yes decentralization is the best tool to check out the centralization power of an individual. Crypto currencies are decentralized and this is considered as best characteristics for them to be handled by some miners who are remotely controlling them. Centralization have so many problems but this decentralization have covered most of them for us.

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April 15, 2018, 11:51:03 AM
 #30

What crypto desperately needs right now is credibility!

The huge number of ICO scams delivered a massive blow to the already feeble reputation of the entire crypto market.

Decentralized exchanges are a nice idea, but first we must find some kind of compliance mechanism that will prevent all those shit coins from entering the market and scamming a lot of people.


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April 15, 2018, 12:36:24 PM
 #31

I believe two major things crypto needs now are mass adoption and institution of reputation (in order to minimize the damage from scammers).

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April 15, 2018, 03:44:25 PM
 #32

There are many things needed to manage well nowadays in this fast running world and few of them are like Decentralized exchanges which I see a major need int his cryptocurrency market because there are only a few big exchanges like Bittrex, Binance which i think feels like are having heavy loaded servers and it needs to manage well with caution and care.Apart from these i also think there is lack of knowledge about cryptocurrency and it needs to be solved soon timely.

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April 15, 2018, 04:29:28 PM
 #33

It isn't just about the internal investors that all crypto coins needed the most obviously. It also needs the external investors outside cryptocurrency. We really need more than awareness to cryptocurrency. It needs adoption and reversion to those bans happening recently and also considering that there are a lot of coins hitting the market now and it is opening opportunities to investors. Not only it needs external factors, but it also needs itself to be more stable especially for those who are new in here
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April 15, 2018, 04:47:03 PM
 #34

Decentralized exchanges are the ones needed most, we are trading decentralized coins in centralized exchanges  Grin but no worry we have great dex OAX developing
True, the coin needs decentralised exchanges but the coins also need acceptance. As currently the coins are getting banned from some major countries like China, Nepal, India; it has a major impact on the coin's market capital. Also, ban on bitcoin affects other coins as well because it is the pioneer of all the cryptos. Ban also makes the transactions illegal.
It prevents the coins from achieving their major goal, that is a digital cashless society.
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April 15, 2018, 04:55:23 PM
 #35

Decentralized exchanges are the ones needed most, we are trading decentralized coins in centralized exchanges  Grin but no worry we have great dex OAX developing
There have been many previous attempts to make decentralized exchanges but the ideas were great and they also got the funding the exchanges also launched, but those exchanges didn't got much attention, so trading wasn't possible on those exchanges as there were sellers present there but the exchanges lacked buyers as most of the people are happy with centralized exchanges like bittrex, Poloniex, kraken etc. But I wish good luck to the project in the crowdsale and I hope the project is a success as decentralized exchange is the need of the hour as a lot of exchanges are being hacked due to someone else's errors and we are losing our money in the process.


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April 15, 2018, 05:02:15 PM
 #36

Cryptocurrency needs proper identity verification
It's the most common thing needed it's the main reason that is stopping CRYPTO to enter real world.
how did you say that?identity verifications wasnt need this and its against the law of cryptocurrency,were here because of privacy,this anonymity is why the investors attracted to be here because they are tired of banking system.and now youre telling us to have identity verification

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April 15, 2018, 05:12:25 PM
 #37

I believe two major things crypto needs now are mass adoption and institution of reputation (in order to minimize the damage from scammers).

What are major crypto currencies mate. There is nothing you have mentioned here bro, For mass adoption bitcoin and ethereuum are right so far. There are certain coins after these have few volume when compare with btc and eth coins.

If you are good at analyzing the project, no one able to scam you at all.
You need to the see the review for the website whatever it is and then only go with it. Blind belief will not work in the bitcoin investment or projects.


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April 15, 2018, 08:15:16 PM
 #38

I believe two major things crypto needs now are mass adoption and institution of reputation (in order to minimize the damage from scammers).
Bitcoin and altcoins are working in the first one but the second point that you have raised here, is very important but difficult to achieve too. Due to the performance that bitcoin gave last year, it has attracted investors like bees. Same goes for the scammers. They know that people are getting interested into digital coins and started laying traps already. Scamming has become a pain in the neck now.
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April 15, 2018, 08:22:05 PM
 #39

Cryptocurrency needs proper identity verification
It's the most common thing needed it's the main reason that is stopping CRYPTO to enter real world.
how did you say that?identity verifications wasnt need this and its against the law of cryptocurrency,were here because of privacy,this anonymity is why the investors attracted to be here because they are tired of banking system.and now youre telling us to have identity verification
I support you, too. Bitcoin should not be allowed to cease to be a confidential currency. If someone is afraid of scammers will be possible to organize a transit server, which will freeze the funds until you confirm the transaction. But it will be a separate business that has nothing to do with the General rules of bitcoin.
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April 15, 2018, 10:56:46 PM
 #40

Decentralized exchanges are the ones needed most, we are trading decentralized coins in centralized exchanges  Grin but no worry we have great dex OAX developing
This is the irony in cryptocurrency. We are promoting decentralization in coins but we are using centralized exchange. The goodness of having a decentralized exchange is to secure from the attempting by the owners to steal our exchanges. That's why, it is not advisable to keep your coins at centralized exchange. More over, a lot of decentralized exchange are existing right now. I oftentimes update all ICO that is related in exchange because I know someday, centralized exchange will gone and it will change by Dex.

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