aronalek
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Activity: 2
Merit: 0
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March 20, 2018, 04:32:07 PM |
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As we all know bitcoin has come long way in the eight or so years its been in existence, but their's still long way to go before the digital currency becomes a widely used method of paying for goods and services.
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
I think that the transaction time is something that should be worked upon. It should be made instant if bitcoin has to compete with payment options like PayPal. |
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I HATE TABLES I HATE TABLES I HA(╯°□°）╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
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Gaff
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March 20, 2018, 04:32:46 PM |
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these days it seems to me like the biggest challenge that newcomers (which are a big part of bitcoin users) are facing is all this FUD that is flying around. imagine you are new and want to know more about bitcoin and you keep hearing all this misinformation online from news sites, even big ones like Forbes and CNBC and all you can see is doomsday!
unfortunately we can not do anything about it. they will keep on spreading their FUD as much as they can.
The most common challenges of a bitcoin user would be the volatility and unstability. On this case, persuading somebody to join and invest may be hard, it takes a lot of time to explain and change their misconceptions about bitcoin as a whole. |
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coinbitrade
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March 20, 2018, 04:34:50 PM |
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The biggest problem is the constant change in cost. And a sharp drop and the same sharp rise up. This is an excuse for panicking many people. To combat this problem, it is necessary to strengthen capitalization
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hh4mmm
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Activity: 378
Merit: 13
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March 20, 2018, 04:34:53 PM |
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the only challenge i know about is just the decrease in the market value and national regulatory system,
i know some of the countries don't really accept bitcoin, those are only challenge we some people or bitcoin holder are facing now.
that is for me.
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kingkonjac
Member
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Activity: 308
Merit: 10
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March 20, 2018, 04:35:35 PM |
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in my opinion one of the challenge is that btc has so many uneducated investors which own the coin and are so open to panic and are affected easily from FOMO or FUD by resulting in so high volatility.
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surgical_duude
Member
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Activity: 349
Merit: 10
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March 20, 2018, 04:42:59 PM |
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As we all know bitcoin has come long way in the eight or so years its been in existence, but their's still long way to go before the digital currency becomes a widely used method of paying for goods and services.
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
The difficulty most people get involved in Bitcoin and the virtual money industry is that everyone is struggling to choose which currency to invest in, so many people worry when their money is spent somewhere. Get back to the risks, and this is most common people. |
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just_Alice
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March 20, 2018, 05:00:21 PM |
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As we all know bitcoin has come long way in the eight or so years its been in existence, but their's still long way to go before the digital currency becomes a widely used method of paying for goods and services.
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
Challenges may involve different regulations that governments may implement, like taxes for transactions, purchasing, or cashing BTC, maybe even for storing it and price volatility during stabilization period. We should not prevent it, if we want cryptocurrencies to be legalized, we should accept that decentralization will suffer, but therefor we will obtain worldwide Bitcoin usage. |
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Bdstar
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March 20, 2018, 05:00:51 PM |
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As we all know bitcoin has come long way in the eight or so years its been in existence, but their's still long way to go before the digital currency becomes a widely used method of paying for goods and services.
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
Basically, Bitcoin is becoming a challenging issue in the daily life for among us who are involved in this platform. Actually, Bitcoin is holders should maintain some specific challenge such as Controlling the greedy of money and price. For me, when the price goes up then people always want to sell their stock at this time but to stop selling is the biggest challenge for us. we have to reserve a long time for the future purpose. but we only want to think about the present time. |
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jhean_arcane
Jr. Member
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Activity: 140
Merit: 2
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March 20, 2018, 05:27:35 PM |
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As we all know bitcoin has come long way in the eight or so years its been in existence, but their's still long way to go before the digital currency becomes a widely used method of paying for goods and services.
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
I'll go to the most basic problem. The more complicated ones will be handled by the experts. But as a normal person with layman understanding, here's how I perceive it. 1. The challenge bitcoin faces is the need for internet connection. Yes you can store the value offline, but the issue surfaces once you use it for transaction. As someone who lives in a third world part of the world, bitcoin is a hassle to be used as a major mode of payment. 2. We can prevent this if the internet services will be decentralized as well. I don't know how this will be possible but the internet providers from where I live is an empire and they have control of the connectivity. Free public wifi is not really free and the connection is super slow that your eyes will bulge and turn red from waiting. Only those who have some extra money to spend are those who can afford a good internet connection. 3. How should we face this challenge? If you are living in a metro, this is easily managed. But if you are living in the country side, good luck. For now, the only thing I can think off is if the government will allow outside investors to compete with the major communication giant to pressure it into giving people a better service . |
█ ▌▐▐ KEPLER // BRINGING AI & ROBOTICS TO THE BLOCKCHAIN▐ ▌▐ █ (http://keplertek.org/#) |
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brickafterbrickwalldpt
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March 20, 2018, 05:45:51 PM |
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I think that the most common challange for average Bitcoin user is security and choosing a proper wallet. Some people prefer more convenient solutions (web wallets) rather than security (hardware and software wallets). I started with Electrum and I'm still using it all the time because I think it's one of the most secure options available right now. Beside security, new users have to deal with large amounts of knowledge which is required to discuss with other users or trade. Predicting the price is very easy, but you have to give a proper reason why you think that it will happen.
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vinz7229
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March 21, 2018, 02:15:52 AM |
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Well for me.. I see some other countries dont accept what bitcoin is, they need to take a look beyond crypto/digital currency in a future how they can help thier economy, and we can faced it by trying to encourage those people who didnt understand it or try to motivate them
I think the number one challenges that Bitcoin facing out today is the country that didn't allow or support Bitcoin to use by their countrymen, cause even though some people hold some Bitcoin it would hard for them to find an exchanger we're they can convert their Bitcoin into Fiat currency, second is investment in Bitcoin, It really test your ability on how to monitor your alt coins just to make sure that you wouldn't missed the right time when Bitcoin gets pump up. |
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oceamp
Newbie
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Activity: 8
Merit: 0
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March 21, 2018, 02:20:21 AM |
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I think the challenge facing Bitcoin should be the attitude of various countries. Now that many countries have not yet accepted Bitcoin, they even started to ban Bitcoin. This is a very bad phenomenon.
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cbeew3
Newbie
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Activity: 165
Merit: 0
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March 21, 2018, 02:24:34 AM |
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As we all know bitcoin has come long way in the eight or so years its been in existence, but their's still long way to go before the digital currency becomes a widely used method of paying for goods and services.
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
I think that the transaction time is something that should be worked upon. It should be made instant if bitcoin has to compete with payment options like PayPal. Although Bitcoin's payment system protects user privacy, it also brings some problems. For example, after the end of the transaction, some miners have put together computers to jointly search for Bitcoin. This model is called "mine pool." |
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monkeydominicorobin
Full Member
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Activity: 294
Merit: 104
✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪
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March 21, 2018, 04:43:55 AM |
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As we all know bitcoin has come long way in the eight or so years its been in existence, but their's still long way to go before the digital currency becomes a widely used method of paying for goods and services.
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
The only challenge that exist is how to accomodate those who decided to hate it in the first place. For they will always hope that it will fail. That the world will not learn how to use it. Once Bitcoin persists and dominates they will have no recourse but to hate themselves for convincing themselves that Bitcoin will never flourish just because they hate nerds and geeks that made it successful. |
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supermine
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March 21, 2018, 04:50:30 AM |
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As we all know bitcoin has come long way in the eight or so years its been in existence, but their's still long way to go before the digital currency becomes a widely used method of paying for goods and services.
we should know.
1.what challenges are facing bitcoin?
2. how we can prevent it?
3. how we should face those challenges?
The most common problem faced by bitcoin users are still bitcoin cannot be used as a currency because it is not accepted as a means of payment.This is due to the people think bitcoin as an investment not a currency so the prices are keep bumping and dumping.We need to adopt to the system as soon as possible if we want that bitcoin to be used as currency. |
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nellakarisma
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March 21, 2018, 05:03:59 AM |
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A common challenge merit me after I feel joining in the world of good crypto trading and so forth.
.1 # the price is not stable that sometimes makes me have to lose if I sell when the price drops like now .
2 # sometimes when I get a pretty big profit in my opinion and I spend this and that people around me sometimes say and accuse me of doing business that is banned by the state like gambling and so forth .
3 # which is this last number which always make my little heart ask questions maybe bitcoiners too.
I am afraid and worried the world of crypto sometime in the cap and without any news in advance while the assets we have not deep inside we take .
or when we exchange with our country currency there is no market or people who serve it.
.# but hope i hope the crypto world will go ahead and many countries join and support the world of cryiptocurrency #
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Russlenat
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March 21, 2018, 05:12:38 AM |
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For me is the security issue is the most and common challenges that ever encounter in every bitcoin holders, if your account will be hack or you forgot and lost the key then your holding will be lost forever.
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shezu007
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March 21, 2018, 05:15:40 AM |
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The greatest test that Bitcoin will confront is the direction of governments and the individuals who spread FUDs. How to anticipate it? nobody can avoid it, in light of the fact that there are nations that would prefer not to about Bitcoin being a strategy for installment or make it legitimate cash. Another test is the unpredictability, as long as Bitcoin cost are not steady, there will be just couple of organizations and administrations that will need to acknowledge it as an installment. How we would it be a good idea for us to confront those difficulties? I don't feel that Bitcoin will turn into a cash that is by and large broadly utilized for purchasing merchandise, since individuals will dependably consider Bitcoin a venture as opposed to utilizing it as a medium of installment and we need to acknowledge that.
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Pier7
Newbie
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Activity: 126
Merit: 0
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March 21, 2018, 05:21:04 AM |
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the only challenge that i can think of which really matters is adoption. and that is not something you can fix, it is something that is fixed on its own with time.
as time goes by more people find out about bitcoin and more of them start using it. some are merchants and some are users and they all make the ecosystem grow.
I agree with you. Even though the bitcoin is becoming more popular currency around the world but not all countries are accepting it as legal currency that could be used for paying goods and services. Another challenge is that bitcoin isn't user friendly. If only bitcoin is very easy to use, with just touch of a button, more less tech-savvy consumers will be interested in the world of bitcoin. |
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Kakmakr
Legendary
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Activity: 3444
Merit: 1957
Leading Crypto Sports Betting & Casino Platform
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March 21, 2018, 05:51:14 AM |
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We should reduce the criminal elements within our community. We should be the driving force behind this to weed out these criminals. By doing this, we will show that we as a community, do not support criminals and that we are not criminals as suggested by many of the mainstream media.
We have a lot of talented developers and white hat hackers to help us with this. They should help us to expose these criminals.
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