Beware!! Bitcoin can be the future but a lot of work is to be done

[Blackdeath]

Bitcoin is a p2p system of transaction. Bitcoin has shown alot of signs so far that it is here to stay and even over Shadow the normal system of transaction.

Bitcoin which was created in 2009 by sir satoshi Nakamoto it growth level is quite OK and the value is still volatile and prone to changes of the market
 
Bitcoin has some advantages over other transactions process like it does not have and fee or charges attached to it and it is decentralized meaning it is not regulated.
Well as a cryptocurrency enthusiast my wish obviously is to see a rapid growth of bitcoin and cryptocurrency at large but truth be told there is a lot of work needed

Well limitations like lack of transaction protection on like make payment that is under a body regulations which you have protection for it. Making transactions with bitcoin does not guarantee you any security so it totally at your own risk

Also with bitcoin transaction can not be reversed like it is with other system of transaction

If you lose your bank account number or pass word you can go to the bank and fill certain forms and probably get it back but not with bitcoin wallet one you lose your wallet and it's detail it is gone forever all your earning blown away

Also lesser transaction opportunities. Although the cryptocurrency world is growing using it to make transactions might not be generally accepted as of now.  Not every one accepts it


PS. Cryptocurrency is no joking ground and it is still developing when you are in it either you gain or you lose. It is very important to know how to navigate it personal security should be of optimal level. Go through educational books and videos. Protect you personal details like your private keys and so on.

We all want cryptocurrency to grow but work needs to be done

Of course we need to work and work and work. Because you cannot get any profit without doing anything. Even the simplest thing like joining this forum and cooperating can be consider as a work. Making bitcoin the future needs to take more time, it needs to interpret to the other people how good does bitcoin even though it has many flaws.

[Eclipse26]

Bitcoin is not perfect. These things you have mentioned can be its disadvantage of engaging yourself with bitcoin. Bitcoin is deventralized that it lacks security since no one is above, securing all information and your assets. You're the only one responsible for your own bitcoin. If it got lost or you got scammed, it's your responsibility. Since it's our own choice investing with bitcoin, to avoid from anyone who could control our assets. It's our control, it's our responsibility. That's why we should always be careful when it comes to crypto. It may look like a lot of work at first, but when you're already used to it, you'll know how to handle your own assets

[Bitcoin-Rules]

Bitcoin has passed more than 9 year as a crypto currency. It is still being developed. As you have said, A lot of hard work is needed to be done to turn it into the future.

It has certainly come a long way and I expect that it will still keep on growing and becoming a much bigger and successful cryptocurrency in the foreseeable future.

[Sithara007]

Bitcoin is not perfect. These things you have mentioned can be its disadvantage of engaging yourself with bitcoin. Bitcoin is deventralized that it lacks security since no one is above, securing all information and your assets. You're the only one responsible for your own bitcoin. If it got lost or you got scammed, it's your responsibility. Since it's our own choice investing with bitcoin, to avoid from anyone who could control our assets. It's our control, it's our responsibility. That's why we should always be careful when it comes to crypto. It may look like a lot of work at first, but when you're already used to it, you'll know how to handle your own assets

It is good for us, right? Bitcoin gives us the opportunity to store the money ourselves. We don't need to give the responsibility of storing our money to the banks or any other financial institutions. Also, security of your wealth is in your own hands. You don't needs to worry about the bank getting robbed, and you don't need to lose your sleep over the bank going through some financial crisis and declaring bankruptcy.

There are a few disadvantages in storing the money on your own, but the benefits from doing so far outweighs these negatives. One of the biggest advantages is that your financial information is confidential. If you keep the holdings hidden, then no one else will know how many coins you have, or how you are spending your coins. If you keep your money in a bank account, this is not possible.

[skarais]

~Snip
There are a few disadvantages in storing the money on your own, but the benefits from doing so far outweighs these negatives. One of the biggest advantages is that your financial information is confidential. If you keep the holdings hidden, then no one else will know how many coins you have, or how you are spending your coins. If you keep your money in a bank account, this is not possible.

Yes, saving money on bitcoin will make wealth unknown to many people. I'm not sure people will know if the owner doesn't tell.
The secret nature makes many people save their money on bitcoin, but still they will continue to be faced with fluctuating prices. In my opinion, to keep the amount of wealth stable, it seems that bitcoin is not good enough for those who fear that their wealth will decrease.

[blckhawk]

All of what you said is true as of now. There are steps to be done to better improve the platform. What we need is to maintain bitcoin's traction and not be restricted by government to further achieve our goal. There are still hindrances such as those problems you mentioned but I still believe that some bright minds that develops bitcoin core would come up to solve those problems. Or we may have integration to banks and support bitcoin transactions without paying too much service fees. We really don't know what will happen in the future, but we must assure to make steps that won't destroy our goal.

[Darooghe]

Personally, I see the future of Cryptocurrency lying in the Central banks’ future decisions on tokenizing fiat currency. If central banks start creating government backed stable coins, then naturally payment processors will adapt to accept digital coins at checkout. From that point, the future of Cryptocurrency lies with digital wallet developers to develop ways to swap Cryptocurrency for these central bank coins at the point of transaction for no cost. So if you hold BTC, Dash, and LTC for example and you want to pay for your coffee with Bitcoin, you would select bitcoin and scan/tap the register to initiate payment, and the merchant would receive their preferred currency of payment without even being aware you paid with Cryptocurrency. Just my opinion, but my point being that there are many ways to improve on the current system that has been developed by banks.

[bounceback]

there is also true that you said in the post, but in my opinion it is safe for all bitcoin wallet users but there are many things we need to be more careful about and use a bitcoin wallet as you said before if we send bitcoin to the wrong address then we don't can cancel it or lose our own bitcoin, but it all depends on ourselves whether we are thorough and effective in using our bitcoin wallet.

[d3nz]

Bitcoin will surely dominate the market in the future and mostlike to increase its popularity once the value resch mo than its ATH last 2017. And as of now even though some people are against it and problem with implementation it will surely survive.

That's why it is better to buy while its cheap and hodl for a long term.

[Genemind]

Banks and crypto have their advantages and disadvantages. Banks has an edge when it comes to security but financial freedom could be found in cryptocurrency. It's risky that we might lose our earnings if we'll lose our private keys but that's our responsibility. That's why there are warnings and tips on how to protect our private keys. Bitcoin has still a lot to improve but it actually passed a lot of tests of time.

[bigmick44]

Of course Bitcoin is not perfect, it has to be developed but it is the beginnig of the cryptocurrencies and perfectly shows what is its potential. It represents the digital era. Bitcoin is an enormous, tim-consuming project, so I think that in the near future Bitcoin will be known as the "digital gold" and it will become a very important part of the payments in the future. Surely the work to be done is a lot but now people should understand the importance of Bitcoin.

[alexsandria]

Yes, the potential of bitcoin to be the currency of the future, but it is still on it's developmental stage. There are many things to be done, and a lot of areas for improvement. Like other technologies which aren't that good at first, bitcoin also have areas which were needs to be enhance, but let us be patient.

[henmark]

OP has some valid points in here, but I don’t think regulation can even solve some of the issues of bitcoin that you listed here and I think that we just have to learn to deal with it on our own. In bitcoin transaction, we have to be very careful about it and if we can be careful, we should not make much mistakes in wallet, the password and all the issue we have here, and that is why bitcoin is for intelligent people.

The creator is a smart and intelligent person, and so as the community of bitcoin ought to be smart, because I see it as carelessness that someone would forget details about his wallet, and the I think that one of the reasons why people forget their wallet is because they don’t make use of it, they just buy bitcoin and then hold it there permanently till further notice.

[ChrisPop]

No great thing in the history of humanity has been achieved easily. Look at peace, telephone, internet, country independencies and so much more. When you're doing fundamental changes at scale that will affect the whole world's perception and daily life you will surely meet some big hurdles to jump, but it is definitely worth it. If we manage to integrate cryptocurrencies and the blockchain technology at a global level the generations to come and not only will reap huge economic and time benefits. Some people like it and some don't, but automatization is a great thing as it gives us time, that you can choose to spend it with your dear ones or doing the things you love. I don't believe that we were created to do repetitive work, but to be creative and transform things for the better good.

[Palider]

Bitcoin has achieved so much praise in such a short period of time but its potential dictates to elevate even higher. A lot of work needs to be done to make it mainstream.

Yes, there is still much talk and agreement to be had. Because it has a huge impact especially on the users as there is a huge risk that it can be faced by using it. Something like that happened here in my country. They used bitcoin as payment in online stores without thinking what the impact would be. This is why big misunderstandings occur because the price of bitcoin has dropped since it led to the loss of sellers who received payment using bitcoin.

[mohdk52]

That's right, we have a lot of work to do, if we want Bitcoin to become something more.

[Ryker1]

Yes, the potential of bitcoin to be the currency of the future, but it is still on it's developmental stage. There are many things to be done, and a lot of areas for improvement. Like other technologies which aren't that good at first, bitcoin also have areas which were needs to be enhance, but let us be patient.

Let's be more patient this time as more developments will take place sooner and adjustments will follow. Bitcoin is still so young so it's still have more rooms to grow. Once bitcoin will be fully stable, i think the government will start seeing its potentials and hopefully will lead to a more mass adoption which is the main goal of bitcoin. If bitcoin cannot replace fiat currencies, atleast it can be consider as an alternative payment system.

Exactly, Well, before you enter the world of bitcoin or in crypto space, you must do some research first since it is not easy to be in here. It is very risky and in your one mistake you might loss all your money the reason why you must be careful especially in every transactions you will make or on every website you are going to enter or invest. You might need to check it first in order for you not to lose your money. Indeed, I had a strong feeling that bitcoin will never fail until how many years, there is always bitcoin and other cryptos.

[xiboothrezi]

snip---
PS. Cryptocurrency is no joking ground and it is still developing when you are in it either you gain or you lose. It is very important to know how to navigate it personal security should be of optimal level. Go through educational books and videos. Protect you personal details like your private keys and so on.
We all want cryptocurrency to grow but work needs to be done

You are right. Whereas we hear a lot of complaints from newbies who often blame for being caught in fraud, hacking cases, and losses due to lack of knowledge of market analysis, just trapped in FOMO and following mass hysteria. Even though it was their own fault for not wanting to learn the cryptocurrency ecosystem first.
How beneficial and disadvantageous it depends on our attitude in maintaining the circulation of funds in cryptocurrency. Understand the risks and do your best to prevent hacking.

[MicroGuy]

Bitcoin has achieved so much praise in such a short period of time but its potential dictates to elevate even higher. A lot of work needs to be done to make it mainstream.

Yes, a lot of work!

Like restoring on-chain scaling and fixing the proof of work bug. Without these changes, the currency is simply not sustainable.

[Astvile]

Bitcoin, as well as many other altcoins, still need to mature more and a lot more development should be implemented to them in order to qualify for being a currency later in the future. Everything in the cryptocurrency world still has flaws and most of that are major flaws that may cause a major issue for the people to go against crypto and don't adopt it.