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Author Topic: what are the common challenges for bitcoin user?  (Read 2052 times)
ajochems
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March 21, 2018, 05:59:46 AM
 #61

Every one in this forum will faces some challenges.It will vary based on the people mind.Even I had some challenges in bitcoin.I had try to save one bitcoin in my wallet from long.But still now,it was my day dream.Once the price increase to certain value,I will sell my certain part of bitcoin to enjoy my life.
When the price increases ,I will get excited. Grin Grin



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heureca
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March 21, 2018, 06:03:02 AM
 #62

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?

Everyone can support BTC and criptocurrency at all. Even registering and participating at this forum you also can help criptocurrency development. Tell about criptocurrency your friends, tell about blockchain technology - the more people will know about cripto the more people will be interested in it

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March 21, 2018, 06:10:29 AM
 #63

my opinion is :
1. On the bitcoin challenge is the fall in market prices (bitcoin prices are being destroyed)
2. saving electricity usage, do not sell bitcoin at a price that adds down to the price of bitcoin or other coin
3. By saving electricity and holding the bitcoin sale price at the price it should be in order to raise the sale price of bitcoin. as well as for other coins
joanshu
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March 21, 2018, 06:18:14 AM
 #64

One of the main challenge that i felt that a btc user has to face is that they should be ready to take up any kind of risk while being a btc holder .The price of the btc market depends on the market trend and the btc holder has to be updated about the market trends or else they will end up in loss. Another thing which can affect a btc holder can be the unexpected ban that can come up in their nation if any government but ban on btc investment they will no longer be able to use btc in their nation and it can also affect the investor as they will be in huge loss and it is not everyone's piece of cake to afford btc these days.Apart from that it is the best investment decision one can do in this scenario.
kiver
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March 21, 2018, 08:41:57 AM
 #65

1. Since crypto is a challenge to government fiat currency, not being squashed and stamped out by government regulation and FUD will be a huge challenge. Until governments can control it completely, they will claim that it serves no purpose, is only for terrorists to wash their money, etc. Since Bitcoin is the most popular crypto, it will take the brunt of the attack.
2. By educating people and/or electing people who know better.
3. See above. Also, older people tend to be more distrustful of crypto and young people tend to embrace it more because they understand it. I think a healthy distrust of government and an understanding of the technology are the keys to mass acceptance for Bitcoin.
i like your take on things and i think also like everything in this life is evolving over time like phones tv.pcs etc...
also will the crypto market and there will a lot of changes that will benefit the community and the holders when we find more ways to get crypto widely accepted as a form of payment
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March 21, 2018, 09:04:43 AM
 #66

The common challenge in bitcoin is it's volatility. Because of unpredictable prices.
DoublerHunter
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March 21, 2018, 09:48:18 AM
 #67

Through the years of being a bitcoin user, the fast changes in the price of bitcoin is the only thing that i think that is a common challenges because you can lose hope and just quit in doing bitcoin because of the volatility that might piss you off since you can really lose money because of that. Just like what is happening for the past few days that the price of bitcoin dump so hard and the other people already lose some of their money by panic selling.
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March 22, 2018, 05:22:30 AM
 #68

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
 
Motivation is not a key for them, it is the knowledge of what the system can do in the market is the most important foundation of not making people sell their bitcoin. If we could distribute the information with the trusted influencers that is well known from that country, it would be a great impact not also the society but in the market.

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March 22, 2018, 05:47:31 AM
 #69

As in G20 summit announced cypto currencies are not currencies its like asset because of huge volatility. I think major challenge with bitcoin is volatility where no one can predict actual value . Like currency which i having value . Wher while buying anything we know the exact value in any country in terms of local currency. But we cant fix the price for anything using crytpo currency or bitcoin.
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March 22, 2018, 05:52:45 AM
Last edit: March 22, 2018, 07:28:22 AM by Thanasis
 #70

Bitcoin is not used by the users what is meant for we are using as money making product buy just dumping and bumping so if the user want to spend his bitcoin without converting it into fiat is not possible yet.And the price volatility is the big problem with bitcoin so no one want s to use it as a currency.

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March 23, 2018, 01:29:32 PM
 #71

As of now, the problem I see that bitcoin users are facing is the regulation of cryptos in a country. Until now, no one knows how governments will act upon the current technology and how could they actually put taxes. It really confuses and threatens some or most of the users since they do not know how high they could probably get.
In some countries, like the Philippines, there are already fees for cryptos to be converted to fiat. There are not much of the stores accepting bitcoins that is why converting it to fiat is recently used. And today, taxes and regulations are still up in the news putting another burden to the users. Instead of putting stores first to implement the use of cryptos and to observe how effective it could have, they are starting to suck up from it as soon as possible. I can not really feel its convenience yet they are starting to get really annoying about fees.
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March 24, 2018, 02:51:51 AM
 #72

Bitcoin has been in the market for quite some time now. It has marked its name in the market. But some of the common challenges bitcoin is facing is how people adopt bitcoin. Some countries don't accept bitcoin yet. And I hope the time will come that bitcoin will be widely accepted around the world.
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March 24, 2018, 03:15:11 AM
 #73

I think guessing about the price,i think many investor had experience it,and im sure that we can avoid it by researching about reading the graph,it might be helful.as of now the price of bitcoin was quickly moving because of many people who invest on it.

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March 24, 2018, 03:39:49 AM
 #74

For those people who heard about bitcoin being in the news and they know that you have bitcoin but since the news is negative reporting about it being involved in illegal activities then they would just easily conclude that you are doing illegal activities as well. It is hard to convince close minded people and they are just brainwashed by the media. This is one of the challenge of a bitcoin user. It is better to keep our mouth shut and let them believe what they want to because eventually they will realize their mistake when more people are using it and they are still being negative about it. Another challenge is when people earn big amount of money through trading and your bank decided to suspend your account because you are a suspect of money laundering since you suddenly have a big amount of money. It can be easily proven when you show your trading history but some takes time to accept your evidence.

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March 24, 2018, 04:00:01 AM
 #75

The common challenge for bitcoin users should be that Bitcoin will easily receive market influence, price volatility will be particularly large, and it will be difficult to predict future developments.
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March 24, 2018, 06:25:04 PM
 #76

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?

Lol Smiley I would say the first challenge for the bitcoin user is the bitcoin user itself.  Because some might spreading fake news about bitcoin. 
They should avoid being panic by the fake news and selling their coins for low value.
This gives a great dump to the price of bitcoin in the cryptomarket. Trading is always unpredictable so we should have some patience before making a decision.
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April 22, 2018, 02:07:26 PM
 #77

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 challenging issues that's bitcoin facing right now are the country that banning Bitcoin for their countrymen,  there are really countries that banned Bitcoin due to being anonymity, cause if you make a single mistakes specially in paying some important bills you cannot reverse it anymore, that's the biggest problem that Bitcoin facing thru why some country's banning bitcoin totally.
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April 22, 2018, 02:12:15 PM
 #78

I think national policy is the biggest challenge for bitcoin.
The second is the emergence of quantum computers, which in the future may be able to crack bitcoin's private keys.

I agree, I think how the government is trying to harness or regulate bitcoin is the problem. They just can't accept that it will be hard to regulate and tax bitcoin. So they create regulations that somehow scares people and slow down the adoption.
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April 22, 2018, 02:55:37 PM
 #79

I think there are many challenges for bitcoin to deal with, but the most important thing is about bitcoin regulation because, with bitcoin regulation, bitcoin can fly freely, and also bitcoin transactions will be protected by the world.

and all we have to do now as bitcoin users is to give a good contribution for bitcoin and explain to society about the good side of bitcoin.

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April 22, 2018, 03:29:20 PM
 #80

The challenge facing bitcoin is the people who uses Bitcoin to promote their scams their using bitcoin to gather some customers also because of the popularity and trend of it and now because of that people think of it as a scam and also the other government also think the bitcoin as a scam and making it as a illegal to their country to face it maybe people needs to be open minded and other countries must accept bitcoin.
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