Reason why bitcoin won't last long (which are you afraid of?)

[crustycrab666]

what I fear most is the loss of public trust especially investors because there are so many scam projects today. It can affect the world of cryptocurrency. An example is the banned advertising plan about cryptocurrency by google and facebook, as a result of the many ico scams. It has significantly reduced the bitcoin price.

[jhonnydeep87]

Lots of media say that bitcoin can be replaced with other crypto currencies. Many people are also afraid of the news, a lot of people create crypto in order to outperform bitcoin. Basically people who already have a lot of bitcoin and they definitely want to exceed the bitcoin price. Until now it has been realized that bitcoin can be replaced or not last long. Issues are just issues that there is no real evidence that bitcoin is still in the first rank of coinmarketcap. What do you fear then believe that bitcoin is the benchmark of all crypto currencies.

[Aleth]

For me, btcoin wont last long if people continue to use it as scam and countries will ban it due to illegal use, then other countries as well will follow. I thats the case bitcoin will close.

[Roadarks02]

For me, btcoin wont last long if people continue to use it as scam and countries will ban it due to illegal use, then other countries as well will follow. I thats the case bitcoin will close.

For me bitcoin wont last long if it lose its public trust which means if it is use in illegal activities. Fear, uncertainty and doubt is one factor that bitcoin cant last long since bitcoin is volatile their are a lots of risk in investing to it , if there was a hack, a scam, or any other issue in the system, the value will drop as people panic and sell as quick as possible. It’s very similar to the stock market.

[paulk11087]

The future of BitCoin can be really distressing because of the risks in terms of security. This is affecting governments' approach very much. But I do not think it will happen either. It will take at least 20 years.

[dorofee]

We have heard of all this reasons in the past but all this failed to stop the growth.  So, I think bitcoin will keep moving up in future as well.

[amsiran_irene]

This won't last long  only if there will be crackdowns worldwide, targeting not the Bitcoin network but as well the exchanger the source of entry of FIAT to Bitcoin. With that it will be possible else it will last longer.

[novsali]

What do you mean by risk of unknown technical flaws ? No such thing had occurred in last 8 years.

[poisonivy77]

After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following

1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form

Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).

Which of the following disadvantages are you afraid of and how do you think it can be resolved

all of the list above are reasons why bitcoin can be fearfully unstable for what's to come in the future. for me the biggest discourage is that bitcoin is not widely acceptable thus giving reasons of failure for bitcoin, less investors and many members tend to pull out.

[Pursuer]

This won't last long  only if there will be crackdowns worldwide, targeting not the Bitcoin network but as well the exchanger the source of entry of FIAT to Bitcoin. With that it will be possible else it will last longer.

exchanges aren't the only source of "entry of fiat to bitcoin". they are one of the ways which happens to be  easiest so it is more popular. and if some day there were an unreasonable crackdown on exchanges people will simply switch to other methods like what Chinese and Indians have been doing.

and basically what you are saying here is a reason for price to fluctuate not for bitcoin to not exist (or last long)!

[Abraham777]

“I tend to think of bitcoin as an experiment. It is an interesting experiment, but it’s not a permanent feature of our lives,” said Shiller, who has previously warned that the bitcoin price could collapse. “We are over-emphasising bitcoin, we should expand it out to blockchain, which will have other applications.”Theresa May said in Davos that she was concerned that criminals were taking advantage of digital currencies, which can be used to anonymously transfer funds. “In areas like cryptocurrencies, like bitcoin, we should be looking at these very seriously,” May told Bloomberg.

[Kakmakr]

After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following

1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form

Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).

Which of the following disadvantages are you afraid of and how do you think it can be resolved

1: Exposure to Bitcoin-Specific Scams and Fraud. < Cash is used for most scams and it is still being used >
2: Black Market Activity May Damage Reputation and Usefulness. < What did they use before Bitcoin? >
3: Susceptible to High Price Volatility. < This will improve as the currency are distributed more equally in the future >
4: No Chargebacks or Refunds. < This is a positive thing, merchants love that feature >
5: Potential to Be Replaced by Superior Cryptocurrency. < Bitcoin can also cannibalize other features >
6:Environmental Ills of Bitcoin Mining. < More energy is wasted to support the Fiat Banking system >
7: Bitcoins Are Not Widely Accepted. < Adoption will grow, so it is not a threat >
8: Wallets Can Be Lost. < Have you never lost your physical wallet before? >
9: Risk of Unknown Technical Flaws < How many times did you visit a ATM that was down?.. nothing is fail safe. >
10: No Physical Form. < Do you think the money on your credit card is physical money or digits on some ledger? >

Nope, come with better excuses not to use Bitcoin, because I shot everyone one of them down, without breaking any sweat.

[jcemos9bt]

You can say that again people always predict how bitcoin will fall or will not last longer, and bitcoin has always be stronger everyday by day, some government ban it, but let me tell you their country people always use bitcoin it favour the people more than the government, every bisiness there is a risk make sure you do business from a reliable source.

[Ryker1]

You can say that again people always predict how bitcoin will fall or will not last longer, and bitcoin has always be stronger everyday by day, some government ban it, but let me tell you their country people always use bitcoin it favour the people more than the government, every bisiness there is a risk make sure you do business from a reliable source.

I agree with you, In my opinion, bitcoin will not fall, I mean a lot of countries banned it, but some country accepted it. If bitcoin becomes good or helpful in the country who accepted it, it will have a great impact in the market, some countries will be attracted to it, they might start using bitcoin too, we just really need to wait until it happens. Government are against it, they already tried to bring bitcoin down, but currently the bitcoin is still holding up fighting back.

[amsiran_irene]

You can say that again people always predict how bitcoin will fall or will not last longer, and bitcoin has always be stronger everyday by day, some government ban it, but let me tell you their country people always use bitcoin it favour the people more than the government, every bisiness there is a risk make sure you do business from a reliable source.

I agree with you, In my opinion, bitcoin will not fall, I mean a lot of countries banned it, but some country accepted it. If bitcoin becomes good or helpful in the country who accepted it, it will have a great impact in the market, some countries will be attracted to it, they might start using bitcoin too, we just really need to wait until it happens. Government are against it, they already tried to bring bitcoin down, but currently the bitcoin is still holding up fighting back.

and it is because of the community, but just a point of view if the government will shutdown digital infrastructure that's the time but to say it wont last long without any reason. i doubt it

[hajimasan]

After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following

1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form

Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).

Which of the following disadvantages are you afraid of and how do you think it can be resolved

In  my opinion lots of factors are still will remain outside of this list because here lots of factors are still existing which will cause the newbie to stop this field to join , like a big thing that view of the government of few countries to have bitcoin use whether it is legal or not , and what are probability or plans that government have for the cryptocurrency are not clear by the government , in that way it is making people much to get worried about it that whether to join or not or there will happen big wastage of time for them to have hard work in this field .
And another factor is the understanding that factors is a big thing , there is change in the cryptocurrency Market with the bitcoin market very logically sometimes no logic works and fluctuations goes with manipulation and that gives negativity to sell Thier asset at that timing .

[lulutika]

Bitcoin can make the economy good but, but it will not last long, everything we can not understand later.

[lakita]

There are many obstacles to it, a lot of obstacles and prohibitions but I think it will still grow and survive

[Venn Harris]

Some people are ready to spend money buying a super computer to dig coin.Especially, the computer that processes these Bitcoins are compared to 500 fastest supercomputers combined. So this means very high processing costs. While the number of coins to tap are fewer. I think it is one of the reason make bitcoin won't last long

[potatocorner]

After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following

1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form

Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).

Which of the following disadvantages are you afraid of and how do you think it can be resolved

I think the ninth reason (risk of unknown technical flaws) makes me afraid of it, but beyond one of those fears I still use and invest bitcoin. These reasons may be the factors that it won't last long, but I believe that in the following years, many researchers will come find a solution in every problem in using crypto currencies.