What would you say is Bitcoin's biggest weakness as an industry?

[Haroldsilve]

There is nothing wrong with technology, but there is certainly a lack of commitment from merchants to market it properly. If you want customers to support your site or store, then you must market Bitcoin properly. Too many people are also sitting on their donkey, waiting for others to promote Bitcoin. But there are also the truth that it is not backed by anything tangible and that price can be easily manipulated it seems. A great technology can open up many different possibilities, but be careful, especially when investing. Like the size of the national debt, like the US banking system. Now compare the size of Switzerland and the United States, the number of people, and the number of submarines with atomic bombs. So, I believe the most important thing is the trustworthiness of an intangible asset. Faith is the rule of the world. The rest of the world has banned Bitcoin and never heard from Bitcoin. If Bitcoin is to be officially accepted for daily use, there must be some form of lobbying and PR. Over time, there will be regulations when the market develops for this.

[stayeduptolate]

Personally, I think rthe Bitcoin/Crypto market needs to be regulated for it to become mainstream or useable in everyday life situations. For instance buying a cup of coffee or even buying gas? What do you think? What're the top projects you've been keeping an eye on and how do you think this will change the future of Crypto?

We all know that bitcoin is a decentralised crypto currency and so there is no such proper authentic regulating body over the bitcoin who could keep eye over all the bitcoin activities and thus leading to illegal use of bitcoin like in selling drugs, explosives, money laundering etc and I think this is the biggest weakness of the bitcoin as an industry as this is the prime reason why so many countries are in against of bitcoin and does not want that it will get centralised all over the world.

[Nnedaddy1]

I can say that the bitcoin 's weaknesses so far, is the issue of its scalability,  interoperability and security.
This issues are some of the factors contributing to the low adoption rate of the bitcoin technology in recent times.

[HabBear]

Biggest weakness?

Public perception!

The broad public perception of Bitcoin is either incorrect or antiquated. People think bitcoin is corrupt or a fad...it's the two extremes, it's rarely a more moderate perception, let alone accurate. People are scared or indifferent. How do we get more people to believe bitcoin is a "real thing" even if they don't like?

We need to talk about it more in regular conversation. Not trying to sell anybody but just saying something as simple as "i bought [insert product here] with bitcoin the other day". The more casually we talk about it the more desensitized the broader public becomes to the idea...and that is the first step toward broader adoption.

[happy weblancer]

Personally, I think rthe Bitcoin/Crypto market needs to be regulated for it to become mainstream or useable in everyday life situations. For instance buying a cup of coffee or even buying gas? What do you think? What're the top projects you've been keeping an eye on and how do you think this will change the future of Crypto?

We all know that bitcoin is a decentralised crypto currency and so there is no such proper authentic regulating body over the bitcoin who could keep eye over all the bitcoin activities and thus leading to illegal use of bitcoin like in selling drugs, explosives, money laundering etc and I think this is the biggest weakness of the bitcoin as an industry as this is the prime reason why so many countries are in against of bitcoin and does not want that it will get centralised all over the world.

Today I registered on one site to buy information materials for training. One of the forms of payment for these materials was Bitcoin. Materials have nothing to do with the cryptoworld, the site also. So bitcoin is slowly moving around the world.

[fox.dn]

 i don't know about weakness but when it come to the benefits we can speak more and more about it... One of the things we love most about electronic transactions is the speed at which money can be moved around.
With our common credit and debit cards, it takes mere seconds for a transaction to debit money from an account and then transfer those funds to the recipient account.
Modern systems operate faster than an average cashier can accept a paper bill and make change, to say nothing of the time and effort wasted on driving to the bank to deposit hard currency.
So, with the speed aspect taken care of long ago, you would expect a newfangled thing like Bitcoin to raise the promptness factor to an even higher level.

[AzrailBogov]

I would like to pay for a cup of coffee with Bitcoin, but in my country it most likely will not happen as fast as I expect

[AzrailBogov]

I can say that the bitcoin 's weaknesses so far, is the issue of its scalability,  interoperability and security.
This issues are some of the factors contributing to the low adoption rate of the bitcoin technology in recent times.

You're right. First we need to eliminate all the problems that prevent the implementation of Bitcoin. But for some reason no one wants to do this.

[pat4cryptoreal]

We are talking about financial freedom, For bitcoin to achieve that vision of giving everyone that grab the opportunity financial freedom it does not need to be regulated. If bitcoin is regulated I bet with you that it will never achieve that.

[hitrawal91]

Personally, I think rthe Bitcoin/Crypto market needs to be regulated for it to become mainstream or useable in everyday life situations. For instance buying a cup of coffee or even buying gas? What do you think? What're the top projects you've been keeping an eye on and how do you think this will change the future of Crypto?

I think it's biggest strength is it's biggest weakness and that is decentralized currency.Due to this people can't have complete faith to invest there hard earn money.Another thing is it is controlled by few giant investors making is more riskier and I think that is preventing it to develop it's authority.

[rindayle]

I have not studied bitcoin in depth, but the biggest weakness I think is its further development. Now explain. In order to develop around the world, you need to cooperate with the governments of countries, this very much hinders bitcoin and its legalization. I think these are the main weaknesses of bitcoin.

[AlexAF]

Bitcoin and other currencies can not see the money market, and therefore not to win a serious place among the currencies of the world, not to become the main currency of accumulation and turnover in any country

[Ufyandrew]

security challenge is the irreversible nature of bitcoin. In the event of a theft, there is no third-party with the standing or authority to deal with the theft. The bitcoin genie cannot be put back into the blockchain bottle.

[St4yInTh3D4rk]

Biggest weakness is its new technology,it is hard for the people to understand how the bitcoin works and it is the thing restricting from mainstream adoption along with the volatility/Then the transaction speed is the biggest backlog of the bitcoin which may not be the case with some other crypto currencies.

[Anderson_smash]

bitcoin does not need regulations. Regulations are where authorities get businesses to spy and police customers. in short giving businesses a sherrifs badge of authority. which some people treat as a badge of honour or trust.. but reality is there are still corrupt police around. after all how did regulating banks protect people in the 2007-8 crisis. we need CONSUMER PROTECTION. where we, users. get to due diligence and KYC the businesses and we get to police the businesses. especially because those businesses will be getting our coins. regulations: let businesses tell customers what customers can and cant do with our money consumer protections: lets users vet and challenge and tell businesses what businesses should do with our money.

[Treasurer]

I can say that the bitcoin 's weaknesses so far, is the issue of its scalability,  interoperability and security.
This issues are some of the factors contributing to the low adoption rate of the bitcoin technology in recent times.

I agree with you. Everyone knows that the biggest drawback of Bitcoin is the low speed of transactions. As long as the author of the topic pays for his coffee, it'll freeze already.

[goodluck0319]

I have not seen any good projects so far. because no one has a working proven product

[irenegaming]

I think it is a little difficult to understand and many people make it more difficult, I think we have to try to call the attention of people to join the crypto revolution but doing it in simple ways, do not have to know protocols, blockchain or wallets, simply focus on account numbers and transaction, something that resembles the banking system to be familiar with that.

[naufals4]

nowadays people only believe in currencies that are recognized by their country or other international currencies. they still don't know about cryptocurrency which is bitcoin which can be used at any time, maybe in the future bitcoin will be accepted in the community

[abhi777]

nowadays people only believe in currencies that are recognized by their country or other international currencies. they still don't know about cryptocurren yg which is bitcoin which can be used at any time, maybe in the future bitcoin will be accepted in the community

I think many people who do not want to accept money that is not official or not considered in that country. so they are also afraid of bitcoin. because bitcoin is long-term invested digital money. and some people want to get money fast. and don't want to wait patiently.