What problems cryptocurrency will face in the near future?

[Impulseboy]

Specifically in the next 5 years, what do you think will be the greatest challenge or problem that the crypto market will face, and how do you think the market will overcome this problem? I also wonder if AI can help crypto trading safer and free from hacking and scamming?

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[Herbert2020]

the biggest challenge in my opinion has always been the large number of shitcoins that keep being created and all the scams that they are performing so that they can make more money by scamming the newcomers. this in general is making the whole market look worse.

[Peacemaker1994]

One of the major problem cryptocurrency world will face is to avoid being centralized. The more cryptocurrency wax stronger the greater the interest from external bodies become. I feel there  is a good work to be done to prevent cryptocurrency from being centralized and becoming like every other currency,  

And also AI cannot make crypto trading completely safe and free from hacking

[batang_bitcoin]

I agree with Herbert2020. The number of those coins has increased in time and its easy to create their very own token without any aim of contributing to the community but just created to make money. To overcome that problem, there should be a regulation that will be done by SEC to maintain those projects or companies to conduct ICO.

[HODL2090]

the biggest challenge in my opinion has always been the large number of shitcoins that keep being created and all the scams that they are performing so that they can make more money by scamming the newcomers. this in general is making the whole market look worse.

The decentralized nature of cryptocurrency means anyone can attempt to use it's potential to improve a sector or to make profits. With the decline in ICO investments, I think new ICOs would take an rrnomous effort to rise, this would be a sort of proof test to select only the best projects. Of course we can't completely eradicate scam, except through centralization, which is aslo one of the problems we would likely face in the future. This could be government regulation or a hijack of the system by a group of people.
Availability would also be a problem some currencies would likely face. And if the system gets to large, it could lead to lagging and longer confirmation times.

[St4yInTh3D4rk]

Scammers are the big threat to the crypto currency we can see that in 2018 lot of ICO projects were turned into scams this may kill the trust of the bitcoin and other crypto currencies so people need to evaluate the projects before investing which can helpful for the people to avoid scam and save their money.

[ShadowBits]

Specifically in the next 5 years, what do you think will be the greatest challenge or problem that the crypto market will face, and how do you think the market will overcome this problem? I also wonder if AI can help crypto trading safer and free from hacking and scamming?

I think we have to have a problem with the volatility of the coin that we are going to use as a payment method for purchasing anything. We should try to fix that before we jump to another.

[Luke_Turner]

the biggest challenge in my opinion has always been the large number of shitcoins that keep being created and all the scams that they are performing so that they can make more money by scamming the newcomers. this in general is making the whole market look worse.

I agree that new coins tend to turn out to be a scam but do you think that it will help the market if they stop creating new cryptocurrencies? Will it help the prices of the cryptocurrencies, not just bitcoin?

[adamtruongkz]

I think the cryptocurrency issue in the future is to make people know more. Find out how to transfer money safer and it should be considered a currency.

[qiman]

I think the main problems that Crypto is facing and will face is the type of people it attracts to it. I am hoping that more mainstream mass adoption and regulation takes place and the sooner the better, so that less dodgy people can get away with all the scams they produce and less hackers can get away with all the money they steal from people. Her eeven on this forum I am amazed at the amount of Bounty Hunter thieves there are, so what we need is more regulation in general so that we get less and less of all these bad folks coming in trying to steal other people's livelihood.

[Pursuer]

Scammers are the big threat to the crypto currency we can see that in 2018 lot of ICO projects were turned into scams this may kill the trust of the bitcoin and other crypto currencies so people need to evaluate the projects before investing which can helpful for the people to avoid scam and save their money.

I disagree.
when ICOs scam, when altcoins show their true nature as shitcoins,... that kills the trust in ICOs and shitcoins. it has nothing to do with bitcoin. people can see that bitcoin is continuing to be the same as it has always been without diverging from the main goals of it such as being a decentralized payment system. one must be very ignorant to lose trust in bitcoin just because some ICO scammed him!

[coinkaw]

heard that bruteforce attacking on privatekey is now no more impossible. is that true?
even with 5% success. this can be a major security issue.

[Herbert2020]

the biggest challenge in my opinion has always been the large number of shitcoins that keep being created and all the scams that they are performing so that they can make more money by scamming the newcomers. this in general is making the whole market look worse.

The decentralized nature of cryptocurrency means anyone can attempt to use it's potential to improve a sector or to make profits. With the decline in ICO investments, I think new ICOs would take an rrnomous effort to rise, this would be a sort of proof test to select only the best projects. Of course we can't completely eradicate scam, except through centralization,

being decentralized, unregulated, open source,... doesn't mean it is ok to scam people! majority of ICOs are created to scam people and all of them don't have any reason to even exist apart from raising money. none of them do anything real in the real world!
and we don't need centralization to avoid them. in fact centralization and regulations are NOT going to eliminate these scams. they will continue to happen.
what we need is less greed from people trying desperately to make some profit in this market so they hang on to anything they can find.

the biggest challenge in my opinion has always been the large number of shitcoins that keep being created and all the scams that they are performing so that they can make more money by scamming the newcomers. this in general is making the whole market look worse.

I agree that new coins tend to turn out to be a scam but do you think that it will help the market if they stop creating new cryptocurrencies? Will it help the prices of the cryptocurrencies, not just bitcoin?

nobody is creating "cryptocurrencies". what they are doing is creating tokens through ICOs or copying the code from some other project creating a copycat coin bloating the market and then pump and dumping it.

[xtrump101]

Specifically in the next 5 years, what do you think will be the greatest challenge or problem that the crypto market will face, and how do you think the market will overcome this problem? I also wonder if AI can help crypto trading safer and free from hacking and scamming?

for sure its the banks and governments that contributes the great challenge of crypto in the coming years and it has been a problem we see last year when crypto boom and price shoot to the all time high.

[bitbunnny]

To my opinion one of the biggest issues in the future is regulation.
Many countries have already started with that process but results are for now very different and with different influence on Bitcoin and other cryptocurrencies.
I think that regulation is necessary for further development and acceptance of cryptocurrencies, especialy by businesses but since it's very sensitive area it's not easy to regulate cryptocurrencies in a right way and not to put additional obstacles.

Also, I think there are too many different altcoins that have no value or significance whatsoever and they are just burden to the market.

[ShowOffoN]

I think the biggest challenge will still be hacking and scamming albeit since you mentioned AIs, I think if they will design a blockchain where AIs can help filter data when an attempt to hack or scam is on the way, then it will probably not going to be a problem anymore.

[MarioV]

The biggest problem will be the people themselves (new-incomers) who will think to speculate and make money without having studied and understood, especially the bitcoin. Because they will be easily scammable.

[enhu]

I don't think shitcoins are the problem, if you are new to crypto and will keep watching which coin is useful and valuable, you shall stick to it and will not even mind the coming new ones. The problem we see today is going to be the problem face up to 5 years, adoption. Cashless society is hard to achieve when its not enforce. Doing incentive hasn't worked yet but China is already enforcing it and I think they're the ones going to be an example. The elderly however is going to be left behind in this progress.

[Hiroyuki879]

One of the biggest changllenges would the energy needs around scaling. Adoption also would be a challenge as not governments would agree to it.

[SuiMikira]

I think the biggest problem in five years is cryptocurrency still would not accepted and used as a currency. There is no government accept it, cryptocurrency is still illegal in most country, we still can not use cryptocurrency to buy a cup of coffee or a bread.