izanagi narukami
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December 25, 2018, 03:52:07 PM |
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IMO, it can stable only if all country start to implement and legalize crypto so the value can't change drastically.
Of course it's require some time to happen because crypto still new and there are still many flaw that need to be resolve because this is internet currency where anything can be hack if they want to !
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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mk4
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Paldo.io 🤖
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December 25, 2018, 03:54:07 PM |
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- UI/UX/user-friendliness: Bitcoin might be easy enough to use for most of us here, but it's definitely not for non-tech savvy people(e.g. our grandparents). Especially with the handling of private keys; I don't think we can expect true global adoption if people needs to backup their recovery seed on pieces of paper.
maybe it is just me but i think this is no longer the case with bitcoin. it used to be a lot more complicated to use it before but nowadays there are just too many wallet alternatives and many of them are pretty easy to use specially the web accounts such as coinbase are very newbie friendly and they can even buy bitcoin through them. It has definitely improved A LOT compared to how it used to in the past. But I personally think(and I'm pretty sure other people agree too), that the current state of bitcoin wallet's isn't enough for true global adoption. People forget their passwords all the time, what more their private keys? Using exchanges like Coinbase as a wallet is definitely not a good solution. |
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b3llsf1l3s
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Send&Receive Money Instantly, w/ no hidden costs
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December 25, 2018, 04:41:14 PM |
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the price of bitcoin has been changing dramatically, and many people have invested in bitcoin. And they get a generous return. these stories attract more people to join Bitcoin. in my opinion, this is precisely an obstacle. It is an obstacle for Bitcoin to be used on a large scale. It requires a stable value for a currency that is used on a large scale.
Therefore since bitcoin is indeed a very unstable price and in my opinion it is impossible to keep it stable. Then we can't carry it on a large scale. But the funny thing is there are still industries that need this, in my opinion that's the reason why there are still many people interested in bitcoin at this time. This is no longer an obstacle, this is a lack of bitcoin |
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tomahawk9
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December 25, 2018, 05:05:46 PM |
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Maybe the close-minded people that aren't giving Bitcoin a chance to prove itself.  In this case you could find two kind of people. On one hand, you have people that think that it's too much of hassle to understand how bitcoin works, the volatility, fluctuation, and also how to handle a bitcoin wallet, private keys, fees, etc, to them it's probably not worth the time to get into all that since fiat currency is way easier to use. On the other hand, you have the people who simply don't trust a decentralized system like bitcoin since people are used to having a central authority in control of their money, like the banking system. I think they'll change their minds once the adoption phase gets going, they'll be willing to try bitcoin if more merchants start accepting it as a form of payment, and as demand increases, the volatility will decrease, and as OP mentions, we could end up with a more stable price. |
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mbluxs
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December 25, 2018, 05:38:27 PM |
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Bitcoin constraints are enormous but I will mention few, one of the major one is Hacker louring into people's account, another is the Manipulation of the market which affects the market at large and the is FUD which also create large impact on it volatile movements
in my opinion the constraints of bitcoin are very much the main ones are rampant hackers and unstable prices. and there are obstacles from the government that are difficult to pass bitcoin as a currency. |
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geminiboy
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December 25, 2018, 06:16:43 PM |
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The top obstacle to Bitcoin being mainstream is mass adoption. Bitcoin now is mainly purchased off an exchange.
If there was an option to use bitcoin as a currency for paying salaries, and calculating how many bitcoins is worth an hour's job. This would increase circulation.
As long as BTC is pegged on Fiat currencies, it will keep being used as a speculative tool.
for employee salaries every hour I think this is impossible, bitcoin is not fiat that has a real physical form, but if bitcoin can be used as a reasonable shopping tool and can increase the price of bitcoin, bitcoin cannot be pegged to fiat prices, because bitcoin does not price rules of all countries |
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Isiaka208
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December 25, 2018, 06:20:42 PM |
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You are fairly right I must say, however, for it to have been named digital gold attracts people and that's the bane of it. That pure gold is used on a large scale isn't an obstacle for it even though it's virtually stable.
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===================================================== BILLCRYPT - CREATING HISTORY===================================================== |
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Xiroartoni
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December 25, 2018, 06:28:58 PM |
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the price of bitcoin has been changing dramatically, and many people have invested in bitcoin. And they get a generous return. these stories attract more people to join Bitcoin. in my opinion, this is precisely an obstacle. It is an obstacle for Bitcoin to be used on a large scale. It requires a stable value for a currency that is used on a large scale.
I believe that the main restriction on the use of bitcoin is the public. She is not ready to accept this new technology. Plus the state put a spoke in the wheel. For further introduction into public life, cryptocurrencies and their technology must go through many stages of development. No good technology is not implemented immediately. Look at the history of cars, phones, computers, etc. Will be 3-5 years and we will see the results of the implementation of cryptocurrency into public life. I think these results will be positive. |
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ralle14
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December 25, 2018, 06:31:57 PM
Last edit: December 25, 2018, 07:02:09 PM by ralle14 |
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I think with the mass adoption the price could be more stable, when we able to balance the supply and demand volume then the price will be more stable, but I think the largest obstacle is the permit, regulation from the government from all countries, if they can allowed the usage of bitcoin then I think bitcoin can grow really well
The amount of buy and sell orders from hundreds of Bitcoin exchanges will never be balance the price will always move one way or another. Regulating Bitcoin from all countries is impossible when there are countries that doesn't want to be involved with cryptocurrencies. The biggest obstacle here is the price rather than the regulation because once you're in you can't avoid the risk no matter what happens and that discourages others from trying out Bitcoin. |
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cybernetik7
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December 25, 2018, 08:32:53 PM |
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Since BTC is a decentralized currency, it is open to manipulations and there is no authority to punish them or prevent BTC from speculators. While the community wait for professional investors and institutions, fluctuations caused by manipulators mop up the trust to BTC and more gamblers break into the market.
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jeremyscott
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December 26, 2018, 09:19:29 AM |
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not everyone understands it. some think they do but really don't.
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Hasansat
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December 26, 2018, 10:44:07 AM |
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There are many obstacles for Bitcoin, for example, it still does not have the legitimacy in all the countries of the world, I also think that its price is a destabilization and a barrier. I also think that Bitcoin will one day reach its desired destination,over all the obstacles.
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Ridwan Fauzi
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December 26, 2018, 10:57:14 AM |
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the price of bitcoin has been changing dramatically, and many people have invested in bitcoin. And they get a generous return. these stories attract more people to join Bitcoin. in my opinion, this is precisely an obstacle. It is an obstacle for Bitcoin to be used on a large scale. It requires a stable value for a currency that is used on a large scale.
Maybe the obstacle is a way to attract many people to know bitcoin, without any profit being made, I don't believe bitcoin will become popular as it is now. This popularity will make some people persuade each party that can manage and use bitcoin so as can be well received by everyone. This is a process and maybe every regulator will believe in bitcoin, and assume that bitcoin is worth using widely. |
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speeder
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December 26, 2018, 11:05:08 AM |
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Well yes, an important obstacle of Bitcoin is its instability, but people still are joining this market.I think that BTC has different benefits that people prefer, like working from home and working for yourself , but this cryptoworld isn't just about this.You have to take some critical risks and that's because of the volatility and instability of BTC and other Altcoins, so yes we can somehow say these are obstacles for BTC to grow up.
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cetald
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December 26, 2018, 11:42:42 AM |
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the price of bitcoin has been changing dramatically, and many people have invested in bitcoin. And they get a generous return. these stories attract more people to join Bitcoin. in my opinion, this is precisely an obstacle. It is an obstacle for Bitcoin to be used on a large scale. It requires a stable value for a currency that is used on a large scale.
I believe that at the moment the market can not be stable. Due to the lack of regulation, there are a lot of speculators on the market who can pump and dump cryptocurrency. |
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Twentyonepaylots
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December 26, 2018, 11:53:35 AM |
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there are two obstacles that comes to mind.
the volatility which has been a nuisense for a long time now and it is the most harmful one in my opinion specially when it is an unpredictable volatility looking more like manipulation.
the other is all the FUD about bitcoin in the media. the first obvious damage is misleading people but the secondary damage is when this misled people do irrational things such as investing in bitcoin when it is too late because they feel cheated and missed out the rise. they become the weak hands.
The market is crazy and unpredictable, with high market volatility create unpresendented uneasyness to crypto investors. In some reacts with Panic dumping as the market goes up and down until this period. With the only few days left with 2018 the positive rebound on the market as everyone are expecting yet to be realized. And this are just some obstacle in crypto market. Good luck. |
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kalstarzz
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December 26, 2018, 12:03:08 PM |
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in my opinion the obstacle of bitcoin is only one, namely a legality, if the legality has been bitcoin get maybe the price will be more stable. because there will be no people selling bitcoin with panic.
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Xardasim
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December 26, 2018, 12:21:13 PM |
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There are always obstacles that against the Bitcoin and it will always be. So tomorrow when Bitcoin will 100k and if falls to 99k, you will think there is a problem again, which obstacle for BTC. Anyway decrease should have been and the current price is our joint decide so we can not blame anybody or anything.
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Crafts12
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December 26, 2018, 01:23:17 PM |
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the price of bitcoin has been changing dramatically, and many people have invested in bitcoin. And they get a generous return. these stories attract more people to join Bitcoin. in my opinion, this is precisely an obstacle. It is an obstacle for Bitcoin to be used on a large scale. It requires a stable value for a currency that is used on a large scale.
My point of view for that topic which is the obstacle of bitcoin is that the main challenge of it is the mass adoptation. There are still a massive number of people who aren't recognizing the bitcoin which is a cryptocurrency. It is still not being adopted by many and just neglecting its existence. Although there are a lot of obstacle bitcoin may face, this one should be the heaviest among them. |
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