lordquanta (OP)
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April 08, 2019, 12:27:46 PM |
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I think that the major hurdle here is still in terms of trust.
The fact that you're funding someone internationally, who you may have never heard of before, while taking a huge counter party risk whenever you send funds through a irreversible payment method that cannot be recovered if the other party goes rogue means that people tend to be more cautious, and credit/investments thus becomes scarce.
This may be less of an issue nowadays with a lot of projects being more transparent with the team and all that, but that doesn't lessen the fact that there are still plenty of rogue projects that use fake team profiles etc. to raise funds. The fact that international legal recourse is difficult also sort of limits the sovereignty of what investors can do. But at the end of the day, the benefits of raising funds through BTC compared to traditional IPOs are obvious, and these hurdles I think are only a matter of time before they are overcome.
In addition to that there are other things which are influential to the market. Any single major player or group could change the direction of market at will. Recent upward surge in bitcoin and many alt-coin is proof. Thus some investor may find it lucrative with highest possible risk.
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Deylandra
Jr. Member
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Activity: 54
Merit: 1
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April 08, 2019, 08:53:37 PM |
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government will eventually become the largest hurdle.
they will not tolerate seeing their fiat money destroyed.
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Ezenwanyi
Copper Member
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April 11, 2019, 09:06:04 AM |
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I believe the major hurdle is the issue of security and volatility. Volatility constitutes a turn off to potential Cryptocurrency/bitcoin investors. Also the security issue whereby anyone can view ones transaction history on the blockchain is also a huge hurdle of bitcoin.
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Kemarit
Legendary
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Activity: 3038
Merit: 1350
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April 11, 2019, 01:53:28 PM |
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I think that the major hurdle here is still in terms of trust.
The fact that you're funding someone internationally, who you may have never heard of before, while taking a huge counter party risk whenever you send funds through a irreversible payment method that cannot be recovered if the other party goes rogue means that people tend to be more cautious, and credit/investments thus becomes scarce.
This may be less of an issue nowadays with a lot of projects being more transparent with the team and all that, but that doesn't lessen the fact that there are still plenty of rogue projects that use fake team profiles etc. to raise funds. The fact that international legal recourse is difficult also sort of limits the sovereignty of what investors can do. But at the end of the day, the benefits of raising funds through BTC compared to traditional IPOs are obvious, and these hurdles I think are only a matter of time before they are overcome.
In addition to that there are other things which are influential to the market. Any single major player or group could change the direction of market at will. Recent upward surge in bitcoin and many alt-coin is proof. Thus some investor may find it lucrative with highest possible risk. That is already a given fact, influential or what we can market manipulators, whales will also be in the picture no matter what. As you have said, some entity from behind trying to stir the market and pushed the price by $1000 in matter of minutes. That's how big those people are. But regarding your original question, I would agree that volatility and then trust could be one major obstacles. Volatility because you don't know if the project could be a success or if your money will give you good returns. And then there is the (pseudo)-anonymous nature of Bitcoin, are you willing to throw money on some project wherein the people behind are not transparent?
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el kaka22
Legendary
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www.Crypto.Games: Multiple coins, multiple games
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April 11, 2019, 02:31:42 PM |
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The hardest is breaking the barriers of usability. I mean most fiat currencies in the world has exchanges all over the world, you can go to any country and find a place to change your own national currency into their national currency and live there or spend money, bitcoin is still not that easy.
So, when it comes to not being able to exchange fiat to bitcoin easily the projects only rely on the people who had done it before and can do it anytime they want. That is a lesser amount than the people who use fiat which is basically everyone. That is why I think the adoption rate is so vital for the projects, if the adoption gets higher than the companies and projects will get higher as well, we need to focus on investing and improving projects that will help adoption rate among people who are not involved right now.
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upsidedown75
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Merit: 1036
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April 12, 2019, 02:14:41 PM |
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I believe the major hurdle is the issue of security and volatility. Volatility constitutes a turn off to potential Cryptocurrency/bitcoin investors. Also the security issue whereby anyone can view ones transaction history on the blockchain is also a huge hurdle of bitcoin.
When it comes to security, I think cryptocurrency is a very secured one, it is just lack of proper security implementation by the users that made it pose threat to people, provided we can secure our wallet very well with a strong encryption, I don’t think the security of or fund should be an issue and the volatility we keep experiencing today is because of the adoption stage we are, once Bitcoin becomes very popular and if we stick to its use as currency other than investment, the market will fully be less volatile and be more useful, the time will come, we just have to be patient with it.
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Xampeuu
Full Member
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Sugars.zone | DatingFi - Earn for Posting
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April 12, 2019, 02:28:43 PM |
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I believe the major hurdle is the issue of security and volatility. Volatility constitutes a turn off to potential Cryptocurrency/bitcoin investors. Also the security issue whereby anyone can view ones transaction history on the blockchain is also a huge hurdle of bitcoin.
When it comes to security, I think cryptocurrency is a very secured one, it is just lack of proper security implementation by the users that made it pose threat to people, provided we can secure our wallet very well with a strong encryption, I don’t think the security of or fund should be an issue and the volatility we keep experiencing today is because of the adoption stage we are, once Bitcoin becomes very popular and if we stick to its use as currency other than investment, the market will fully be less volatile and be more useful, the time will come, we just have to be patient with it. i agree, as long as we are not careless in opening a site that is not clear I think it will still be safe from hackers. besides that if we are still in doubt, can be divided into several wallets for our assets, or provide additional security
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sana54210
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April 12, 2019, 08:22:28 PM |
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Knowledge is power, what I see here is because many people who first invested, lacked the proper understanding of how the system totally works and that is why they fell victim of such Loss, which I usually don’t see what many people called LOSS as Loss, provided the coin was not completely sold, the value is what dropped and not the coin, so I usually tell people that they lost the value and they have not lost their investment, which eventually the investment will come back to them, if they are patient enough to wait for it.
There is nothing we can do to persuade them further, especially for old investors, we can only talk to people that are yet to experience the adoption of cryptocurrency, wherein the percentage of those that are yet to adopt it is far more than those that has already adopted it. So, by the time those new ones adopt Bitcoin and learn from the past mistake, it will attract the old ones back to the system.
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