What is the main problem with the crypto market at the moment?

[MFahad]

Its the wild west as they say. Even with the regulations coming its going to stay that way and the only solution that has to be done by investors is to research which project they support. You will not mind the fud if you knew the team can deliver. So much project had been created in the past and if they survived the great crypto winter of 2018, they will survive til the adoption is realized.

Lack of regulation in crypto is the biggest issue for this market. Due to no control over digital currencies, there are many scam schemes which allow people to gain money through scam ico and such stuff. If everything is regulated, not only price of bitcoin and altcoin will be stable, but at same time only quality ICO will come which will help people to gain benefits.

[1714771108]

1714771108

[1714771108]

1714771108

[1714771108]

1714771108

[1714771108]

1714771108

[PowerofYggdrash]

To my opinion at the moment the biggest problem at the crypto market is lack of new investors. On the other hand there is a problem with existing investors who often have too big expectations and are to greedy for unreal profit. Also, after a huge progress of Bitcoin and other cryptocurrencies and increasing number of users it looks now like this process started to slow down and we are still far away from mass afoption. Cryptocurrencies still have a long way to go.

Nice summary. The adoption will increase with the increase of prices. I know we have a dip at the moment but BCH is still more than 100% more compare to its lowest point.

[PowerofYggdrash]

[/quote]
Mass adoption may not start at one particular day. It is a long and continuous progress and I guess it has already started some years back itself. One of the main problem of bitcoin and bitcoiners must be, lack of merchants accepting bitcoins for our life's daily needs. I guess that problem will find its solution when more people start using bitcoins as a currency rather than using bitcoins as an investment assets.
[/quote]

I guess we are more motivated to use it when we bought it at 3130 or this sort of price and we are using it when it is over 20000. Especially those guys who bought BTC at 1$ and they have used at 20000$:)

[PowerofYggdrash]

Talk about Bitcoin with any newbie, most of the time they will ask you this: what can I actually buy with Bitcoin?

And the answer for now is: very few things, unless you are in a country such as Japan. .. so for me this is the major issue with crypto currencies (in general) nowadays. Very few adoption for using it in daily life. But we will get there.
[/quote]

In Shoreditch , in London you can pay for your coffee and beer in quite some pubs with Bitcoin. Also you can buy BMW with Bitcoin and so on. Also in Canada you can buy jewelry and diamond with Bitcoin and so on. Obviously we need more adoption and more wide usage and this is especially true for other altcoins and new ecosystems such as Ethereum Classic and Yggdrash and so on.

[reactorjuno]

Talk about Bitcoin with any newbie, most of the time they will ask you this: what can I actually buy with Bitcoin?

And the answer for now is: very few things, unless you are in a country such as Japan. .. so for me this is the major issue with crypto currencies (in general) nowadays. Very few adoption for using it in daily life. But we will get there.

In Shoreditch , in London you can pay for your coffee and beer in quite some pubs with Bitcoin. Also you can buy BMW with Bitcoin and so on. Also in Canada you can buy jewelry and diamond with Bitcoin and so on. Obviously we need more adoption and more wide usage and this is especially true for other altcoins and new ecosystems such as Ethereum Classic and Yggdrash and so on.
[/quote]


Indeed, in some countries Bitcoin is usable to buy stuff. My point was that it is far from being the case in many countries.
I can only talk for myself, being from a Western country of Europe, where Bitcoin is not usable to buy anything, most of my friends or relatives always ask me the same question, what can you buy? And from my personal experience, I only used Bitcoin to play poker or bet on sports, that's the only service I bought with Bitcoin.
But I would love to be able to buy flight tickets with Bitcoin in the future, or cars, real estate, etc. Still a long way, hope we will get there eventually.

[PowerofYggdrash]

Indeed, in some countries Bitcoin is usable to buy stuff. My point was that it is far from being the case in many countries.
I can only talk for myself, being from a Western country of Europe, where Bitcoin is not usable to buy anything, most of my friends or relatives always ask me the same question, what can you buy? And from my personal experience, I only used Bitcoin to play poker or bet on sports, that's the only service I bought with Bitcoin.
But I would love to be able to buy flight tickets with Bitcoin in the future, or cars, real estate, etc. Still a long way, hope we will get there eventually.
[/quote]

Where do you live then?

[reactorjuno]

Indeed, in some countries Bitcoin is usable to buy stuff. My point was that it is far from being the case in many countries.
I can only talk for myself, being from a Western country of Europe, where Bitcoin is not usable to buy anything, most of my friends or relatives always ask me the same question, what can you buy? And from my personal experience, I only used Bitcoin to play poker or bet on sports, that's the only service I bought with Bitcoin.
But I would love to be able to buy flight tickets with Bitcoin in the future, or cars, real estate, etc. Still a long way, hope we will get there eventually.

Where do you live then?
[/quote]Sorry buddy I always wish to keep anonymity here but let's say I live in a Western country of Europe not the most crypto friendly country, BUT I have double residence and live most of the year in an Asian country where I can feel the difference. Asia is what keeps me interested into cryptocurrencies, also what made me buy some XRP a week ago.  

Do you live in North America?

[cluit]

Hi,
According to you what do you think is the main problem at the moment in the crypto world?
So why we don't see real life adoption yet and so on.

According to me the answer is simple. People from the general public treats crypto as a new style high risk gambling. They don't take it seriously.
Why?
I think the main reason is the moonboys and Fudsters. According to my experience as an admin (Yggdrash admin, we got over 20400 telegram member..)
unnecessary Fud and also shouting 100x and expecting 100x within weeks also does make lot's of harm to every project.
Also quite often the Fudster people who shout 0 one day next day they will be the moonboys.
This type of behaviour very harmful and misleading for new investors. Also it leads to only many disappointed new investors who will leave the crypto world entirely mainly. This will also hinder any sort of adoption at the end of the day.
As administrators and opinion influencers we should have and we have a responsibility to bring more sanity into the crypto world. What we lack of is sanity and balanced view in the crypto world. A coin either must go to the moon or must go to 0. Come on, this is so ridiculous and predictable. If someone shout fud and say this coin go to 0, this means those people want to get the coin at the cheapest possible price level. If their fud operation was successful, suddenly a week later, new people will appear who will be the classic example to the moonboys. So in Crypto everything can change and turn into upside down only within weeks or less. This is not normal and not really helpful for wider adoption at all.
As an investor since I have invested a lot into Yggdrash and other projects as well of course I believe that my investments will go to moon but it will take years for sure and also the team must deliver and this won't happen due to a magic mushroom. So I think you get what I am saying.

What is your opinion?
I think this is an important topic, and very broad topic as well.

I’m not surprised by anything and I don’t really think there is any problem anywhere, cause things are just as it should be. I know most of these Bitcoin enthusiasts just wants everyone to be making use of Bitcoin as a currency, but that’s not going to work.

Things don’t just come out from nowhere and you expect everyone to make use of it, when there is already a system they believe and trust so much. Things are in the way they are meant to be.

[Jating]

Hi,
According to you what do you think is the main problem at the moment in the crypto world?
So why we don't see real life adoption yet and so on.

According to me the answer is simple. People from the general public treats crypto as a new style high risk gambling. They don't take it seriously.


What is your opinion?
I think this is an important topic, and very broad topic as well.

Talk about Bitcoin with any newbie, most of the time they will ask you this: what can I actually buy with Bitcoin?

And the answer for now is: very few things, unless you are in a country such as Japan. .. so for me this is the major issue with crypto currencies (in general) nowadays. Very few adoption for using it in daily life. But we will get there.

I'm lucky that I living in a country in Asia wherein crypto has started, I have used it not to buy things, but I can readily pay most of my bills thru bitcoin so it's a very welcoming experience. I have some of my bitcoin holding separated from the bitcoins I earned for that payment purposes only. But yes, generally speaking its not yet adopted globally and it might take sometime before people can learn and will used it for their daily life.

[neonshium]

To my opinion at the moment the biggest problem at the crypto market is lack of new investors. On the other hand there is a problem with existing investors who often have too big expectations and are to greedy for unreal profit. Also, after a huge progress of Bitcoin and other cryptocurrencies and increasing number of users it looks now like this process started to slow down and we are still far away from mass afoption. Cryptocurrencies still have a long way to go.

Yes lots of investors we have here are just very greedy. Maybe it would have been best if Bitcoin remained a bit stable at first and not so crazy volatile as it was then and now. Another problem is what we have made people believe about Bitcoin and cryptocurrency as a whole. We made people believe cryptocurrency is where they can invest and make money immediately while that is not true.

[marcous]

Of course, regulatory issues in several countries are the main problem and the prohibition on the circulation of cryptocurrency will become a FUD for the cryptocurrency. Considering the government is only worried if the cryptocurrency is misused. While the mindset of society can change over time if they understand what the purpose of the cryptocurrency was created and the support of the government make the cryptocurrency more widely known.

[bohr]

The main issue that I see is that people do not really see a reason to adopt cryptocurrencies, they see what they can do with them and they do not understand why they will need to use a cryptocurrency when they can use their fiat for the very same thing, they do not really understand what is the purpose of cryptocurrencies and until they do that adoption is still going to be as low as it is now.

[ellehcar]

I think the main reason is the moonboys and Fudsters.

I think, these moonboys and fudsters cannot carry on if the market is regulated. People buy the FUDs they are spreading because of the uncertainty of the future of crypto. So apparently, the main reason is the lack of regulation. Had the market been regulated, things are not this worst for all of us. I strongly believe that the crypto market desperately needs to be regulated and legalized. That's the only time we can ensure full trust and back-up from the community, which undeniably is important in stabilizing the market values.

[playboy654]

The main issue that I see is that people do not really see a reason to adopt cryptocurrencies, they see what they can do with them and they do not understand why they will need to use a cryptocurrency when they can use their fiat for the very same thing, they do not really understand what is the purpose of cryptocurrencies and until they do that adoption is still going to be as low as it is now.

I look forward for the times when I can pay my utility bills with my Yeed, which is our currency at Yggdrash. This time will come when the mainstream adoption has happened already.

The main problem that you are facing now is value down again and again for long time this year will not be the right here for Crypto user so many people will not continuing this journey for long time and it will not good for Bitcoin and cryptocurrency field.

[audaciousbeing]

There are several problems but its best to describe them as challenges because its surely something that can be surmounted. One of the dominant one among the rest is the issue of regulations which has been a significant challenge in the mouth of many. It has become so bad that almost every finance person who is aware of current happenings have maintained that this is the major drawback for adoption but I believe that as education and awareness of crypto continues, this misconception would be cleared eventually.

[PowerofYggdrash]

I look forward for the times when I can pay my utility bills with my Yeed, which is our currency at Yggdrash. This time will come when the mainstream adoption has happened already.
[/quote]

The main problem that you are facing now is value down again and again for long time this year will not be the right here for Crypto user so many people will not continuing this journey for long time and it will not good for Bitcoin and cryptocurrency field.
[/quote]

What I do hope that this is the end of the Bear market and we are already in the bull market.

[hesoyam082m82]

I think Main problem of crypto is adoption but eventually no matter how hard we do think off we cant really go to a point that we can able to go on full scale.

[PowerofYggdrash]

I think Main problem of crypto is adoption but eventually no matter how hard we do think off we cant really go to a point that we can able to go on full scale.

What do you mean under full scale? What would be full scale to you?

[goaldigger]

The problem is that, people are easily get frustrated and they are easily be afraid whenever there are a slight changes in the market. They are easily drawn to what manipulative people leads them. The market is already fell and people are panicking. Its all natural, but if you will go mainstream, you cannot be on the rocket whenever that market lands on moon.

[MFahad]

I think Main problem of crypto is adoption but eventually no matter how hard we do think off we cant really go to a point that we can able to go on full scale.

We need to find a reason of why the adoption of bitcoin or crypto is less or not as much as it should be. The reason for this is that bitcoin price is not stable and it is too much volatile. When the price is so much volatile, no buyer will be willing to accept it as a payment method, as they never know if its value become less in matter of hours.