Top 5 Concerns About Bitcoin ?

[DreamStage]

1- It is not so safe as you think, if someone get's your keys you will get most likely hacked...
2- Price is not consistent, rumors might lower or increase it, depends on investors actions.
3- Many lockdowns from several countries make it less powerfull in terms of future prices
4- Hard to master - for newbies who wanna try to develop something with it.
5- If Blockchain gets hacked we might lose everything?

[MakeMoneyBtc]

before you ask other members, you should have a fear of the phrase about bitcoin in your opinion.

after that, you can ask what we are afraid of, so you can get positive responses from some members about the fears you have.

You are right. Many people have concerns about bitcoin that are probably not even true and they live with the same concept because they are afraid of asking someone about it or they are too lazy to do it. A person should always do a little research and see if his concerns should be considered a real threat for bitcoin or not since he created them and don't know if they are true or not.

[ogini]

My main concern and thoughts about bitcoin is regulations,use case and acceptability as a spendable currency such as fiat currency,what will be the state when it is been mine to 21m,what will be the value,these have been of a serious  concern to me.

[faceoff97]

Just like to ask everyone out there. What are your top 5 Concerns regarding more less Cryptocurrency? not just Bitcoin in General. But more in the whole area of Cryptocurrency?

This could from regulation? Adoption? uses?

What would be your main concerns and thoughts about cryptocurrency?

I'm personally concern on how long will the price stay volatile. I know that, Bitcoin could stay volatile forever but will the time come that it could be use as a normal currency that price doesn't depend on the normal currency. I believe that Bitcoin is better than any asset and currency, we should focus on making it be known by many. Unless people have come to know it, it will not really reach the point of becoming stable. Still okay for me to see volatility since I still expect sudden growth in price.

[virasog]

The possibility of being hacked of course I do not know how hackers are doing it but I have read some news that they actually are doing  

Hackers are like us who care about money so what's valuable attracts us. Everything is not absolute, so hackers look for vulnerabilities every day and steal them from other users.

Hackers always exists and their mission is to steal people information / money. Bitcoin is available online and therefore it is always a danger of hacking bitcoins. We should take necessary security measures so that our money is safe. It is the responsibility of the individual to apply / follow proper security guidelines.

[niisarearning]

My main concern about bitcoin or any crypto currency is Regulation most of the countries not yet implemented some of the countries are busy at banning crytpo currencies . Seconed concern is wide acceptance . Third concern is ease to use ( Its very difficult to use in day to day life ) . Fourth concern transaction fees for every transaction . Fifth concern about centralised exchanges Do they really having Crypto currency in backend or just the number.

[Viscore]

I can't name all 5 but I can only name what I think the major concern, and that is the regulatory aspect.
Even how confident we are that crypto should not be regulated because it's decentralized but we cannot deny the fact that there is a huge risk
for the potential users and investors of crypto, in the past the scams are obviously happening therefore the government needs to step up.

[Astvile]

Just like to ask everyone out there. What are your top 5 Concerns regarding more less Cryptocurrency? not just Bitcoin in General. But more in the whole area of Cryptocurrency?

This could from regulation? Adoption? uses?

What would be your main concerns and thoughts about cryptocurrency?

My main concerns about cryptocurrency as a whole is ofcourse security,specialy when a certain coin needs an software wallet that you need to install to your pc as a regular user people can be easily hacked by this type if the project they are in are aiming to scam people.Second is uses,its been 9 years eversince and still bitcoin is limited to online purchases yes there are walk in shops that accepts bitcoin as payment but they are very limited in a country or in a region there are only few of them

[aioc]

Just like to ask everyone out there. What are your top 5 Concerns regarding more less Cryptocurrency? not just Bitcoin in General. But more in the whole area of Cryptocurrency?

This could from regulation? Adoption? uses?

What would be your main concerns and thoughts about cryptocurrency?

My one and only concern is these hacking incidents there are too many of them now, and this is one of the big things that impede the progress of cryptocurrency, adoption will eventually come when we the security of these exchanges are on high standard and people are educated on how to secure their coins.

[ralle14]

Fourth concern transaction fees for every transaction

The spike in transaction fees we currently experience now isn't a problem to be worried about because they're not rising forever.

My one and only concern is these hacking incidents there are too many of them now, and this is one of the big things that impede the progress of cryptocurrency, adoption will eventually come when we the security of these exchanges are on high standard and people are educated on how to secure their coins.

These hacks are inevitable even with better security because an inside job can easily bypass the exchange's security and others speculated this is how the past hacks were done.

talking about bitcoin, it is the biggest concern for bitcoin miners when prices fall like now

Not all miners sell their Bitcoin immediately and they could also wait for the price to rise.

[morrisgonzalez]

There i try to find out concerns about bitcoin.

Increase Mining cost:
Bitcoin dependent on a system of miners that verify transactions and record them on a digital ledger called the blockchain. Bitcoin price increasing but the question is it's mining cost so expensive now. Day by day it's going more & more costly, in future if this happening continuously then it's a major concerns about bitcoin. There are also some important concerns about bitcoin which is Regulatory concerns, Market manipulation, Power consumption and Industry scepticism. These rising cost of mining, regulatory concerns, market manipulation, power consumption and industry secticism are big threat of the bitcoin.

[samcun]

5 Top Concerns About Bitcoin?
1. there will be one country whose currency dies.
2. 95% of digital currencies other than bitcoin will disappear, just as the compilation of dotcom sites is booming.
3. The digital currency will change the monopoly of the currency by the government of a country, just like the internet that changes monopolistic practices in the telephone industry.
4. There will be a new government agency created to analyze digital currency arrangements.
5. digital money (Bitcoin) to be resolved through tax reform.

[levvv]

5 Top Concerns About Bitcoin?
1. there will be one country whose currency dies.
2. 95% of digital currencies other than bitcoin will disappear, just as the compilation of dotcom sites is booming.
3. The digital currency will change the monopoly of the currency by the government of a country, just like the internet that changes monopolistic practices in the telephone industry.
4. There will be a new government agency created to analyze digital currency arrangements.
5. digital money (Bitcoin) to be resolved through tax reform.

Indeed, the point no 5 is the most i concern about. If tax will be applied to all bitcoin holders, im not gonna hold it.
Applying tax in cryptocurrency is not good because cryptocurrency is a currency, not an asset like gold, house, or car.

[xWolfx]

1- It is not so safe as you think, if someone get's your keys you will get most likely hacked...
2- Price is not consistent, rumors might lower or increase it, depends on investors actions.
3- Many lockdowns from several countries make it less powerfull in terms of future prices
4- Hard to master - for newbies who wanna try to develop something with it.
5- If Blockchain gets hacked we might lose everything?

About the first one, the same thing applies if someone gets your credit card for example. Or even your identity in some countries.

2. The price is not consistent for now but that is a really valid concern. Because i believe that it won't be for a while.

4. At least you can develop something, right? With fiat you can't enter a bank and start working inside their platform or you will be instantly kicked out, right?. Also it's good to point out that you won't really develop something with Bitcoin especially but with Blockchain and using it you can code to do different things. I find smart contracts particularly useful for projects/businesses.

5. If anything gets hacked you will lose everything but it's a lot more likely that you will be the one more than the Blockchain network. It's a really secure and transparent one, but it definitely needs a lot more work. I wonder what would happen if certain centralized entities invest in it. Lots of things could happen.

[trickyriky]

1- It is not so safe as you think, if someone get's your keys you will get most likely hacked...
2- Price is not consistent, rumors might lower or increase it, depends on investors actions.
3- Many lockdowns from several countries make it less powerfull in terms of future prices
4- Hard to master - for newbies who wanna try to develop something with it.
5- If Blockchain gets hacked we might lose everything?

All these concerns are the reasons for many people not to invest in Bitcoin. many individuals are simply afraid that they would be hacked even if they manage to make some money on BTC.

[livingfree]

Someone said about the concern of the possibility of being hacked. Well, everything can be stolen and even on the web, data, information, money (bank accounts) and other important stuffs that has great of value. Obviously that crypto's can be hacked but it also depends on how responsible the keeper is, if you keep your coins to a very reputable wallet like ledger wallet, ledger and any other hardware wallets, your security is tight. There are desktop wallets too that are very reputable and trustworthy but although you are using those wallets but you're a person that isn't careful enough to keep your details and just signs up everywhere. You can be a victim of phishing.

[Bonsaiav]

• Hacking.
• Scammers.
• Manipulation.
• Government regulations are sometimes unclear and inconsistent.
• No entity can provide a guarantee, for negligence that causes loss or error in the delivery process.

These five things are worries that circulate and continue to overshadow people's minds. But some of these concerns basically can be deflected if we can treat them intelligently and carefully, although maybe some gaps will open without our knowledge, at least we can minimize the loss problems that will occur on the coins we are holding.