3 Concerns You Have For Bitcoin

[worldtraveller321]

what are 3 concerns you have for Bitcoin?

this can be for the aspect of daily use?
if mass adoption would happen?

would it solve inflation?

etc. like to hear your thought?

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[kryptqnick]

My #1 concern is that Bitcoin cannot handle being popular, and if it gets more popular, there'll be big problems with expensive and time-consuming transactions. This is basically a concern about micro-transactions (so a daily life thing, yeah) and no user-friendly solution to this problem. #2 is probably that Bitcoin will never become stable enough to be used in daily life without referring to fiat and then adjusting the price in BTC. #3 is that Bitcoin will get killed by a critical bug nobody will notice in time. There've been terrible bugs before, and while they were fixed in time, what makes us sure that this will always be the case in the future?
Seriously, though, while I care about #1 and think that it's the biggest challenge for Bitcoin, #2 and #3 don't seem that important or likely to me.

[hello_good_sir]

1. Mainstream adoption, I don't think we'd be seeing a lot of that in the recent years, it looks like government have chosen to make their own currencies and choose utilising blockchain technology over bitcoin technology.

2. Inability to handle microtransactions/fees(excluding lighting network), which is going to make a real life use case very difficult.

3. Incorrect interpretation from media, will likely lead to alot of people seeing it and just instantly not being interested.

[Reosta_]

I wonder the most that if Bitcoin can be useful on beating the inflation and the adaption can be increased all around the world or not. Especially, if the mass adaption can be applied, then it will be incredible for Bitcoin.

[Stoppie]

1. Manipulation and ownership of whales; they can destabilize the whole ecosystem (?). It would be a massive weatlh transfer with individual that will have ammased unbelievable wealth and thus power. Will central power allow this?
My counter: no owns more than 1% of the network, so its relatively harmless. You can't stop it (how is that working out for drugs)..

2. 2017 bubble pop by manipulator through unregulated Bitfinex: https://www.crowdfundinsider.com/2019/11/153702-research-by-professors-john-m-griffin-amin-shams-tether-used-to-manipulate-bitcoin-price-in-ongoing-ploy-via-bitfinex/
My counter: more regulation will take rotten apples out

3. Monetary problem with one unit of account between rich and poor countries. Like in Europe now with the euro. It's to expensive for the southern countries..

Please blast away my concerns  !

[hatshepsut93]

1. How will average people handle its complexity? Is it possible to make things simpler, or do we have to wait for people to become more tech-savvy?
2. After emission becomes significantly reduced, will transaction fees be enough to secure the network?
3. How will the population warm up to the idea of Bitcoin? It's been almost 11 years, most people are already aware of it, and still not much people use it.

[Kyraishi]

1. Mainstream adoption with bigger companies/governments, the fact that the biggest 2 economies in the world aren't interested in bitcoin (USA/China), is worrying, with one of them ignoring it completely, and one choosing to go with a government made, centralised crypto-currency which is extremely similar to their regular fiat currency.

2. Market manipulation via whales is quite the issue nowadays, and I'm a bit scared of countries trying to end BTC by owning a lot of the supply and trying to dump it.

3. Don't have a third

[pakhitheboss]

My primary concern with Bitcoin is the speed and ability to process multiple transactions. If Bitcoin wants to become a primary currency of the Internet it has to compete with the Banking system. At the moment it does not look good.

With Lightning Network there has been a significant improvement but, Bitcoin is still far behind.

[Pearls Before Swine]

My #1 concern is that Bitcoin cannot handle being popular, and if it gets more popular, there'll be big problems with expensive and time-consuming transactions. This is basically a concern about micro-transactions (so a daily life thing, yeah) and no user-friendly solution to this problem. #2 is probably that Bitcoin will never become stable enough to be used in daily life without referring to fiat and then adjusting the price in BTC. #3 is that Bitcoin will get killed by a critical bug nobody will notice in time.

Excellent list, and I have to say that if I thought about what my concerns are about bitcoin, my list would take inspiration from yours.

Your #1 concern is something that many bitcoiners ignore, along with the fact that most altcoins don't share the problem of long confirmation times and exorbitant fees during times of network congestion.  Basically the only reason I'm not fixated on that problem is that I never intend to use bitcoin for purchases.  It remains an investment for me and I'm not too concerned about sending it (usually). 

That also relates to bitcoin's volatility, which also makes it a really bad currency.  Again, that's one of the things I've come to expect and it's what makes it a good investment.  I would be more concerned if bitcoin's volatility dropped to that of a stable coin.  If that happened, do you think people would be so interested in it?  I think not.

Not sure about your #3 and whether it could happen.  Maybe the more technically inclined members of the forum could address that.

[Velkro]

what are 3 concerns you have for Bitcoin?

Political hell that will affect Bitcoin hard way.
Major, hard to hotfix bug breaking Bitcoin.
Hackers.
These are 3 major concerns i have personally. They all can happen and none of them also, we will see in future

[crzy]

what are 3 concerns you have for Bitcoin?

this can be for the aspect of daily use?
if mass adoption would happen?

would it solve inflation?

etc. like to hear your thought?

First concern, its value since its volatile its hard for a small hodler like me to trust the system but I still believe that if I have more patience, bitcoin will save me. So my main concern is its price.
Second concern, people are scamming people, they are too greedy and they are using the name of bitcoin. The second one is the reputation of bitcoin and I just hope that it will go high.
Third concern, the supply and system of bitcoin. If we continue to see more updates with bitcoin, we will surely see a big price and its supply can help that one out. The next halving will be big, we are hoping and waiting for a positive result on that.

[Shasha80]

My concerns for bitcoin
1. Whales manipulation makes the market difficult to guess even though it has done the analysis correctly, it is still a big possibility
    there will be an impromptu dump. This can make panic sell to some investors.
2. Mass adoption is too long, blockchain and bitcoin technology has been running for about 10 years but there are still many countries
    that have not yet adopted bitcoin.
3. Volatile bitcoin prices are increasingly difficult to implement as an alternative choice for payment. Because most people are still
    comfortable with fiat as a means of payment because its value is stable.

[acroman08]

what are 3 concerns you have for Bitcoin?

this can be for the aspect of daily use?
if mass adoption would happen?

would it solve inflation?

etc. like to hear your thought?

1 the adoption of bitcoin stopped. although it is almost impossible to happen and I'm really not sure what would happen if the adoption of bitcoin stopped.
that is what concerns me not knowing if bitcoin would continue its success or will fall to its failure and will be forgotten if the adoption stopped. please answer if
you have at least a gist of what would happen if the adoption of bitcoin stopped?

2 Certain people having control over the price of bitcoin. we all know which certain people they are.

3 Criminal taking advantage of it's "Anonymity". although it has been proven that bitcoin transactions are traceable it still puts a bad image to bitcoin that
it is being used for illegal activities.

(example of authorities using bitcoin transactions to track down paedophiles all over the world link: MANILABULLETIN)

[Oasisman]

what are 3 concerns you have for Bitcoin?

this can be for the aspect of daily use?
if mass adoption would happen?

would it solve inflation?

etc. like to hear your thought?

1 the adoption of bitcoin stopped. although it is almost impossible to happen and I'm really not sure what would happen if the adoption of bitcoin stopped.
that is what concerns me not knowing if bitcoin would continue its success or will fall to its failure and will be forgotten if the adoption stopped. please answer if
you have at least a gist of what would happen if the adoption of bitcoin stopped?

What do you mean adoption will stop? Do you mean Bitcoin's death (no value at all?)
That's still far from happening, you might be able to pull out your investments before Bitcoin will totally lost its value.

2 Certain people having control over the price of bitcoin. we all know which certain people they are.

I assume you're talking about whales? Trust me, they don't have the full control over the market. What they can do is to put a massive buy out or sell out just to steer the price in the direction they want, but they cannot take control to hit a specific figure.

3 Criminal taking advantage of it's "Anonymity". although it has been proven that bitcoin transactions are traceable it still puts a bad image to bitcoin that
it is being used for illegal activities.

(example of authorities using bitcoin transactions to track down paedophiles all over the world link: MANILABULLETIN)

Crimes exist long before the creation of Bitcoin and it involves money/fiat currency. A lot of money!
Does that put fiat currency into a bad light?
No, I don't think Bitcoin will be in a bad light here since It wasn't created for criminal purposes in the first place.

[Edraket31]

I don't have doubt that Bitcoin will become popular to every nation, I know that it will become the favority crypto and will always be the King of all time, mass adoption is there, as well as adapting the blockchain in every companies.

But, my concern is that when each government will make it legal, or even accept it, so that the doubt, fear for most people will be vanished and the adoption can really be seen all over the world.

[rmhuntley]

3 concerns I have for Bitcoin :

1. Bitcoin is very hard to track because of the confidential nature and transactions of Bitcoin anonymously, Bitcoin is one of the hardest-tracked circulation. Thus many utilize Bitcoin exchanges for illegal buying and selling.
2. Bitcoin is not secure, it is often hacked by hackers when the price of Bitcoin rises, I am very worried if our assets are lost in exchange.
3. Not environmentally friendly, In Bitcoin mining, we will use certain devices, where a mathematical solution involves a number of algorithms and software.
All of these computation certainly consumes electricity, and the electricity used does little.

[crossabdd]

My concern for bitcoin is 1. Bitcoin will be rejected by countries for alternative transaction. because its privacy (anonym) and decentralization nature. 2. bitcoin will suddenly fall when it reaches the highest price due to mass sales by miners. 3. Bitcoin is no longer attractive to the public because the price is too high. so that between the purchase amount and the fee is not balanced (greater fee)
Bitcoin can be hacked / broken, as we know. technology is updated every day. it is not impossible if one day bitcoin will be solved.

[yazher]

Right now, my main concern is the stoppage to use it on their evil perspective. There are some groups who only use the name of bitcoin for their own evil intention. Yesterday in our country, there was some group that doing Multi-million Ponzi Scheme and the victims mostly are ignorant people about how cryptocurrency works. Thankfully they are caught yesterday but their mastermind got away with those millions of pesos he got from people. if only we can stop this kind of fraud, I'm sure there would be a huge amount of people already adopting the used of bitcoin now, without fearing that they might lose their funds.

[kolonel_x]

Hacking, because it is prone to occur even large exchanges were affected
Government bans, that's what makes me afraid because people will move to fiat again if the ban is legalized
There is bad news, there is bad news, which makes prices go down badly, especially if there is an issue that does not involve bitcoin.

But I believe bitcoin going forward without worries.

[mk4]

1. Bitcoin is very hard to track because of the confidential nature and transactions of Bitcoin anonymously, Bitcoin is one of the hardest-tracked circulation. Thus many utilize Bitcoin exchanges for illegal buying and selling.
2. Bitcoin is not secure, it is often hacked by hackers when the price of Bitcoin rises, I am very worried if our assets are lost in exchange.

1. Bitcoin actually isn't anonymous. It's pseudo-anonymous. Hence, easily trackable with the right tools and with the right people. https://www.tweaktown.com/news/68208/bitcoin-helps-track-down-massive-pedophile-ring/index.html

2. Bitcoin, as in the protocol, is secure. It's the exchanges that have been hacked that are not secure. There's a huge difference there.

[ajiz138]

Bitcoin adoption in bulk, I don't think will happen. Developed and developing countries are more interested in blockchain technology and build their own platforms than using Bitcoin technology. They made their own stable token and built a new network based on the blockchain. My concern for bitcoin is only about the legality problem that bitcoin has, because not all countries agree with bitcoin and bitcoin voting which has a high risk.

[Ridwan Fauzi]

Bitcoin cannot be understood easily by common people/all people on this world, because its complicated concept. Bitcoin will be used by someone who has a knowledge against technology or at least he uses a smartphone on his daily lives. But, for those who don't know at least to operate a smartphone then I bet they won't ever know what bitcoin is or even what the function of it.

Indeed, for those people who lives at developed country they will be easy to cought an understanding about bitcoin, for at least they will know what its function. But, for those who live at developing country where the technology aren't being used on their daily lives such as in my country who still many people who don't know at least to use a smartphone and even they just comfortable with their lives situation now, just believing fiat money is one tool which is lawfully used for transactions.

[drachman]

what are 3 concerns you have for Bitcoin?

this can be for the aspect of daily use?
if mass adoption would happen?

would it solve inflation?

etc. like to hear your thought?

1. How will bitcoin react in the case of an economic crisis? We believe it could behave in a positive way but it could also go down and we will not know until it happens.

2. If bitcoin is made illegal all over the world how will the majority of holders react? Many say they will keep holding their bitcoin but I have my doubts

3. As the block reward goes down due to the halving can the miners really sustain themselves only with the fees?

[secretgirl]

in my opinion adopting bitcoin will take a long time maybe 10 years or 20 years. because most countries already have their own currencies and also some people are also not ready to make transactions using bitcoin. and in my opinion some countries are more interested in adopting a blockchain than bitcoin. and for inflation I think bitcoin can indeed be relied upon to prevent inflation. if we save our money in bitcoin it will definitely not be affected by inflation. but we also have to be prepared if bitcoin is impaired.

[Google+]

in my opinion adopting bitcoin will take a long time maybe 10 years or 20 years. because most countries already have their own currencies and also some people are also not ready to make transactions using bitcoin. and in my opinion some countries are more interested in adopting a blockchain than bitcoin. and for inflation I think bitcoin can indeed be relied upon to prevent inflation. if we save our money in bitcoin it will definitely not be affected by inflation. but we also have to be prepared if bitcoin is impaired.

I think very difficult to be able to guarantee that bitcoin can last for the next 20 years because currently the supply of bitcoin is very limited and it has begun to be very difficult to get bitcoin so I think bitcoin when it reaches the maximum supply will make bitcoin not used anymore because it must be of value the exchange has been very expensive and shipping costs are also very expensive because of the rising price of bitcoin and I don't think bitcoin will be affected by price inflation.

[Murat]

Firstly. It's true that Bitcoin is getting popular and familiar around the world, but it's also true that if it gets too much popular then the transaction time will require more and more so that it will get a real problem at that time, I think people will not get interested in paying and sending money by this platform, so the transaction time is the first concern for me, Secondly, Instability is the real problem in recent time and it can't be solved without taking a huge regulation set up so this one could be one of the main barriers of this platform and Finally, No government will allow very easily Bitcoin as a legal currency because this is nothing regulation so it can't be handled in a single hand, that's why it means a lot.

[CryptoBry]

What are 3 concerns you have for Bitcoin?

There are a lot of concerns expressed by many people concerning Bitcoin and as expected some can be very valid or they can just worthless or misplaced ones. I would try to express here some of the biggest concerns I have on our most favorite cryptocurrency.

1 - Bitcoin is getting laid-back in the search for more adoption, use and trade all over the world. We need to increase the marketcap of Bitcoin so that slowly manipulations can be neutralized by the market itself. However, since there is no funded organization really working and promoting Bitcoin, the partnerships that Bitcoin really need is coming like a trickle but we need an avalanche.

2 - Bitcoin has not yet fully answered the need for more scalability in the network so that micro-payments can be easily be utilized by Bitcoin holders. This is so far the biggest challenge that many merchants and Bitcoin users are demanding since I can remember. To compete in the expanding payment industry, Bitcoin has to shape up and be responsive, otherwise this big market potential can be lost for good. One must be using Bitcoin without any worry that it can take time to get confirmation in paying a cup of coffee or a can of Pepsi.

3 - Bitcoin's name is always besmirched in the media due to many scams, hacks and unfair criticisms by famous personalities. This is one are where we people could not do much except maybe answering these concerns on the social media. Many people still think of the "Bitcoin scams" when in fact they are referring to scams that accepts Bitcoin in the same that they are also accepting the dollar. Some famous personalities are making a regular habit of spreading false information and impression on Bitcoin.

I am not expecting that soon these concerns can be given direct and indirect solutions but I am sure that as time goes on or maybe years from now we can see the silver lining. As a firm believer in Bitcoin, I see these things as just birth pains or just a toothache in a growing organism that is called as Bitcoin.

[ice18]

Not only me but Im sure most governments are concerned about it no. 1 on my list its energy consumption use for bitcoin mining imagine btc energy consumption per year is almost equal of Switzerland thats approximately 58 TWh/year (https://www.bbc.com/news/technology-48853230), 2nd is the scalabity issues currently no clear solution for this at the moment, LN is here yeah pretty fast but Is it totally secured enough? and lastly the legality of bitcoin as a currency what if in the future bitcoin will declared by all government as illegal? What can we do about it?   

[Memminger]

what are 3 concerns you have for Bitcoin?

this can be for the aspect of daily use?
if mass adoption would happen?

would it solve inflation?

etc. like to hear your thought?

I remember the crisis a few years ago where the blockchain had been clogged and the transaction fee had risen so high that it has become too expensive and not practical. The transaction would take hours and even days for it to be processed. I think the challenging part for the mass adoption of Bitcoin is its scalability. Can Bitcoin keep with the increase of transaction in its blockchain? Can it provide a cheap fee in processing a transaction or would it increase much more expensive in the future?

[joinfree]

Well Bitcoin is being used by some countries in their day to day transactions just that not too often. My greatest concern is about the mass adoption of bitcoin by the entire globe to be used as a digital currency for the purchases of items. Sometimes i feel this dream my never come to a reality. The volatility of bitcoin will always be a great hindrance to bitcoin being accepted as a currency which can be used in our day to day transactions.

[acroman08]

what are 3 concerns you have for Bitcoin?

this can be for the aspect of daily use?
if mass adoption would happen?

would it solve inflation?

etc. like to hear your thought?

1 the adoption of bitcoin stopped. although it is almost impossible to happen and I'm really not sure what would happen if the adoption of bitcoin stopped.
that is what concerns me not knowing if bitcoin would continue its success or will fall to its failure and will be forgotten if the adoption stopped. please answer if
you have at least a gist of what would happen if the adoption of bitcoin stopped?

What do you mean adoption will stop? Do you mean Bitcoin's death (no value at all?)
That's still far from happening, you might be able to pull out your investments before Bitcoin will totally lost its value.

what I mean is, what if the number of people who uses bitcoin stopped increasing(the price is still the same. it's just the adoption of bitcoin stopped)
and no new people are adopting it. what then? will the success of bitcoin continue or will it fail?

[maydna]

1. The process of adoption is not going fast in many countries because many people still don't know or hear about bitcoin.
2. The way to earn more bitcoin will not easy as before since bitcoin price now is reaching the high price.
3. We still need more merchants who can accept bitcoin or altcoin for the payment.

But all in all, I am sure the mass adoption will happen in the future, and we should wait for a while. If bitcoin prices can increase higher, many people will shock, and at that time, they will realize that bitcoin can be their solution to have a new source of income. I don't know about inflation because I am not studied that before.

[Kakmakr]

These are my main concerns at the moment :

1. People will lose hope - We saw a huge increase in adoption in 2017 and also a large spike in the price. A lot of people bought bitcoins at that price and they might think of selling to cut their losses.  

2. Some competitor might come up with a much better technology and people will dump bitcoins to buy that token or technology.

3. Governments might go out on a all out war against Crypto currencies and start banning it. It will not end Bitcoin, because it will still be used on black markets and the DarkWeb, but it will be valued a lot less.  

[bounceback]

what are 3 concerns you have for Bitcoin?

this can be for the aspect of daily use?
if mass adoption would happen?

would it solve inflation?

etc. like to hear your thought?

I am very worried if the price of bitcoin drops dramatically not as we want it might be very difficult for us to trade with bitcoin, because now I don't think bitcoin can be used as a daily necessity but this will happen in the future, it might be good for adoption Bulk bitcoin will happen because now we know that many people have seen bitcoin to adopt it slowly.

[blckhawk]

Three (3) concerns I am having as of now for bitcoin is:

1. Bitcoin's network hash rate crash

• Although highly unlikely given that China has lifted its ban on cryptocurrency-related activites such as mining, their own government-backed cryptocurrency might trigger a shift in public's interest to Bitcoin.

2. Bitcoin might be under 51% attack

• Since Bitcoin's nodes from China comprises of greater than 50%, although not likely to happen today, a 51% attack is possible if all of the nodes there are either under control by one person/organization, or they'd have an agreement to do such attack. Block validity is based on how much of the nodes agree that a block is valid, and such attack could be used to double spend by altering the next block to a previous block before a purchase.

3. Bitcoin's becoming obsolete because of a new technology

• Even though this would ultimately end the fate of Bitcoin, as all things undergo development and change is the only thing permanent in generations, there would come a time that a new altcoin, or a new framework much better than Bitcoin in terms of efficiency, security, and speed. It might be hard for investors to accept but moving on is part of everything. Even this is a concern, it's not totally bad to progress, but for Bitcoin enthusiasts, this might be a concern.

[Eclipse26]

The reality that it's hard for bitcoin to be use in daily transactions. Imagine buying things at a certain price or value of bitcoin but tomorrow after coming back to the same store, the price changes. It's because of the volatility of bitcoin that makes it so hard to be use everyday. I see this as one of the reason why bitcoin can't get mass adoption. If ever it achieve mass adoption, bitcoin will more likely to be use as a store value. Most would probably just hold their bitcoins and convert it to fiat when they want to spend money.

[Ludmilla_rose1995]

The thing I'm concerned about is 1. Loss of community trust in bitcoin, 2. Political issues that will bring down the value of bitcoin or restrictions in many countries about cryptocurrency trading, 3. hackers.

[bettercrypto]

My #1 concern is that Bitcoin cannot handle being popular, and if it gets more popular, there'll be big problems with expensive and time-consuming transactions. This is basically a concern about micro-transactions (so a daily life thing, yeah) and no user-friendly solution to this problem. #2 is probably that Bitcoin will never become stable enough to be used in daily life without referring to fiat and then adjusting the price in BTC. #3 is that Bitcoin will get killed by a critical bug nobody will notice in time. There've been terrible bugs before, and while they were fixed in time, what makes us sure that this will always be the case in the future?
Seriously, though, while I care about #1 and think that it's the biggest challenge for Bitcoin, #2 and #3 don't seem that important or likely to me.

In terms of the technology, yes it could be a disastrous for bitcoin when the number of users and buyersof btc arise. It may cause a huge clog in the network since there are many transactions needed to be performed. However, it will be also profitable for people specially those who had 1 btc and above on their wallet. They might be lucky if ever the price of bitcoin goes up as well.

[GideonGono]

My #1 concern is that Bitcoin cannot handle being popular, and if it gets more popular, there'll be big problems with expensive and time-consuming transactions. This is basically a concern about micro-transactions (so a daily life thing, yeah) and no user-friendly solution to this problem. #2 is probably that Bitcoin will never become stable enough to be used in daily life without referring to fiat and then adjusting the price in BTC. #3 is that Bitcoin will get killed by a critical bug nobody will notice in time. There've been terrible bugs before, and while they were fixed in time, what makes us sure that this will always be the case in the future?
Seriously, though, while I care about #1 and think that it's the biggest challenge for Bitcoin, #2 and #3 don't seem that important or likely to me.

In terms of the technology, yes it could be a disastrous for bitcoin when the number of users and buyersof btc arise. It may cause a huge clog in the network since there are many transactions needed to be performed. However, it will be also profitable for people specially those who had 1 btc and above on their wallet. They might be lucky if ever the price of bitcoin goes up as well.

How can you sure that there would be a problem from that? Because the exchange are the responsible from trading or the process of exchange from bitcoin to altcoins.  We know that there are a lot of exchange site here in the internet so we do know that bitcoin doesn't delay too long even there are a huge coin from performing exchange.

[BitHodler]

In terms of the technology, yes it could be a disastrous for bitcoin when the number of users and buyersof btc arise. It may cause a huge clog in the network since there are many transactions needed to be performed.

Yup. We have seen that happen in 2017 where transaction fees peaked over $50 which is not normal at all. It was the first time I actually got annoyed by Bitcoin and realized how important a healthy scaling roadmap is.

Would we be subjected to the same hype, the fees probably won't be as high as $50 per transaction due to SegWit, but certainly in the $10-$20 range, which is still not acceptable.

However, it will be also profitable for people specially those who had 1 btc and above on their wallet.

Miners are the lucky ones in the aforementioned scenario, users not so much. The miners couldn't care less how high the fees shoot up because it's money flowing right into their pockets.

[omfg.xekcep]

what are 3 concerns you have for Bitcoin?

this can be for the aspect of daily use?
if mass adoption would happen?

would it solve inflation?

etc. like to hear your thought?

To tell the truth I have striven to understand your question completely and what you want to hear but I am not sure that I could. Anyway I will endeavor to answer your question.
By far a lot of people claim loudly that using bitcoin provides some benefit. For sure there are some benefits such as
User Anonymity
No Third-party Interruptions
Purchases Are Not Taxed
Very Low Transaction Fees
Mobile Payments
No Risk of Inflation; Individuals Can Preserve Coins
International Payments Made Easy for Small Business Ventures
and much more

So, the final word is for you whether to use bitcoin or not.

[investor007]

The three things that concern me about Bitcoin are the following:

1. The problem of scalability, it is necessary to evaluate the effectiveness of exchanges for millions of daily transactions, especially in the case that a practical and massive use is achieved.

2. Security from the point of view of hash control by Chinese mining, although it is very unlikely, there is a small possibility that somehow the security will be altered.

3. A potential fall of Bitcoin because another Altcoin had a very strong impact on the ecosystem and attracted the attention of millions of people, displacing Bitcoin and relegating it to a low position.

[yohananaomi]

The three things that concern me about Bitcoin are the following:

1. The problem of scalability, it is necessary to evaluate the effectiveness of exchanges for millions of daily transactions, especially in the case that a practical and massive use is achieved.

2. Security from the point of view of hash control by Chinese mining, although it is very unlikely, there is a small possibility that somehow the security will be altered.

3. A potential fall of Bitcoin because another Altcoin had a very strong impact on the ecosystem and attracted the attention of millions of people, displacing Bitcoin and relegating it to a low position.

bitcoin transactions in crypto are the transactions that are considered to be very good and easy to use. in terms of security it is very reliable and has very good accuracy.
until now I have not seen that bitcon will fall because altcoin I actually see altcoin still depends on the movement and development of bitcoin, not the other way around.
so there is no need to be afraid.

[barabarian1]

I'm afraid maybe bitcoin won't be adopted en masse. because most countries already have national currencies. they are afraid that adopting bitcoin could disrupt the sovereignty of the national currency. and I think most countries are more interested in blockchain technology than bitcoin. we have heard a lot about companies and countries that adopt blockchain. but we rarely hear the adoption of bitcoin. I am also worried that one day my country is banning trading and investing in bitcoin. at this time my country legalized bitcoin as a trading community but not as a means of payment.

[Asuspawer09]

what are 3 concerns you have for Bitcoin?

this can be for the aspect of daily use?
if mass adoption would happen?

would it solve inflation?

etc. like to hear your thought?

Possible that bitcoin as a part of the financial landscape could surely affect inflation depends on the country. Also, fiat money is already implemented worldwide and surely it will not going to disappear at the moment bitcoin become implemented I'm not really sure if the bitcoin could replace the fiat money or how the bitcoin will be implemented in a country it has so many conflicts that preventing bitcoin to become a legal currency. I think it will surely affect inflation but we don't know how it will going to affect it.

[BigBoom3599]

bitcoin transactions in crypto are the transactions that are considered to be very good and easy to use. in terms of security it is very reliable and has very good accuracy.
until now I have not seen that bitcon will fall because altcoin I actually see altcoin still depends on the movement and development of bitcoin, not the other way around.
so there is no need to be afraid.

It's not because Bitcoin has always lead altcoins in the past that it can not be overtaken in the future. There is always a possibility that an altcoin with a unique feature (eg. smart contract, or anonymous txs) gains more adoption because of it's real life use than Bitcoin and overtakes it. Or this may even happen when a state-backed crypto is released and receives forced adoption because of the government.

Same goes for security, there is a (probably very small) chance that a bug is discovered in the bitcoin client which causes the whole network to fail. Or maybe the chinese government decides to buy tons of ASICs and 51% attack the network. These situations are not probable but they definitely are possible.
Nothing is invincible, not even Bitcoin

[JC btc]

I'm afraid maybe bitcoin won't be adopted en masse. because most countries already have national currencies. they are afraid that adopting bitcoin could disrupt the sovereignty of the national currency. and I think most countries are more interested in blockchain technology than bitcoin. we have heard a lot about companies and countries that adopt blockchain. but we rarely hear the adoption of bitcoin. I am also worried that one day my country is banning trading and investing in bitcoin. at this time my country legalized bitcoin as a trading community but not as a means of payment.

Why afraid? We are actually adopting the crypto these past few years, we can check in Coinmarketcap that the market value has risen and that there are countries who are initiating to legalize and making laws and regulation over crypto. You can check as well that there were some countries who put up Bitcoin ATM which is. a good move to everyone.

[fiulpro]

* Having a governmental firm for Bitcoins which will tackle all the problems regarding this

* Having a series of updated softwares being installed

 * Lightning network being updated with the bugs being solved .

*bitcoin's ATM's being installed and improved in a good way and people paying right

*Less fee for lightning network to normal wallet .

Etc..

[Beparanf]

I wonder the most that if Bitcoin can be useful on beating the inflation and the adaption can be increased all around the world or not. Especially, if the mass adaption can be applied, then it will be incredible for Bitcoin.

Inflation will be eliminated thru bitcoin
Governments acceptance and uses of it will be a big help for their economy
The price it can certainly achieve once the supply all used due to mass adoption.

[Asmonist]

Basically my concern for bitcoin is how will it adopt if the government will make it legal. I mean its quite good though but at some point it would be a really big change to the usual processes. However, I think it can be handled properly and the more it became known to many, the more its security might be compromise as well. Its really quite wierd but we'll just cross the bridge when we get there.

[dimonstration]

Basically my concern for bitcoin is how will it adopt if the government will make it legal. I mean its quite good though but at some point it would be a really big change to the usual processes. However, I think it can be handled properly and the more it became known to many, the more its security might be compromise as well. Its really quite wierd but we'll just cross the bridge when we get there.

I don't want it too to be legalised by government that may cause taxes in every transaction and they will put restrictions too much but it can help to lessen scam and hacking attempts. This may cause adoption of it will be legalised too. We all don't know what may happen as it gets more popular.

[Meowth05]

Basically my concern for bitcoin is how will it adopt if the government will make it legal. I mean its quite good though but at some point it would be a really big change to the usual processes. However, I think it can be handled properly and the more it became known to many, the more its security might be compromise as well. Its really quite wierd but we'll just cross the bridge when we get there.

I don't want it too to be legalised by government that may cause taxes in every transaction and they will put restrictions too much but it can help to lessen scam and hacking attempts. This may cause adoption of it will be legalised too. We all don't know what may happen as it gets more popular.

You have a point legalization of Bitcoin and other cryptocurrencies means of having the government to manipulate or regulation of our transaction, they might charge a tax for every transaction which we don't like. For me, it is better to keep Bitcoin in the middle, I mean away from legalization and away from prohibition or state of being illegal. Besides, I think government will never put this kind of unmanageable currency, perhaps they would rather create their own digital currency just like what's China doing.

[Wintersoldier]

Here's my point, even if we have achieve a huge market adoption, it will still not solve the problem with inflation. Basically it will just become the same with fiats if everyone will utilize a universal currency such as bitcoin. In a sense that the way we can avoid inflation is through hard work and becoming responsible for handling our financial assets.  One of my concerns in bitcoin is that it needs the partnership with the lightning network, and to reduce its market transaction fee even if the network is dense.

[maxreish]

3 concerns or things why I do have for bitcoin;

• The advanced technology given by bitcoin inspire me to join and be part of it.
• The convenience given by digital currency payments.
• Aside from being a store value or investment, bitcoin can give us the hope to gain more benefits we want to achieve in life.

People are adjusting to the new technology but as long as there are crypto enthusiast like me who are very optimistic with the outcome, mass adoption will occur.

[Youghoor]

The first concern I have for Bitcoin will have to do with the duration it takes for transactions to be confirmed on Bitcoin's blockchain network. For some time now I have realized that for faster confirmation, you need to pay extra. I just wish this particular issue can be solved soon. My second concern will also have to do with the wrong mentality people have about bitcoin. This is the major cause of hindrance in the adoption of Bitcoin in the financial ecosystem.  And my final concern is the negativity the media present bitcoin.

[bettercrypto]

I'm afraid maybe bitcoin won't be adopted en masse. because most countries already have national currencies. they are afraid that adopting bitcoin could disrupt the sovereignty of the national currency. and I think most countries are more interested in blockchain technology than bitcoin. we have heard a lot about companies and countries that adopt blockchain. but we rarely hear the adoption of bitcoin. I am also worried that one day my country is banning trading and investing in bitcoin. at this time my country legalized bitcoin as a trading community but not as a means of payment.

Adoption in bitcoin becomes bigger and wider, why? Because bitcoin is the well-known cryptocurrency and even though every nationalities have their different currencies using blockchain technology, all I can say that they would not surpass what bitcoin have been for the past few years until now.
Soon, bitcoin will unite the world through one main useful cryptocurrency. Wait for that.

[bhabygrim]

For me my 3 concerns about Bitcoin would be,
1. Would it still be up or still be the King of crypto when my kids grow up?
2. Could my kids or even grand child use Bitcoin if I would save some Bitcoin for them right now?
3. If I keep my hardware wallet frozen or untouched for a long time would my savings on that wallet still be safe since the hardware wallets are upgrading their system then my untouched wallet would be outdated,Would it still be safe there?

[Kambal2000]

Here are my 3 questions/concerns for Bitcoin:


1. How much will be your worth 10 years from now, would you still be the top crypto at that time?

2. Will Satoshi Nakamoto the founder be known and show up after 10 years, of he will hide his identity for the rest of his life

3. Would you do some organizations/corporation for crypto that will make an international law for those who would like to make a project, but needed to pass your rules and regulation first before they launch, just like having a license.


Hope this forum still exist at that time, and let's see if I can answer my questions here.

[airdnasxela]

My concerns focuses if bitcoin will be adopted

1. Scams and Hacks which is very inevitable on the internet. So if Bitcoin achieve mass adoption, scamming and hacking will be more rampant. Non-techy people will be at disadvantage
2. We don't have any idea about its future value. So people will always have to predict what would be it's value in the future
3. Environment. Right now, one concern here in bitcoin is the electricity it consumes. If the mass with adopt it, more electricity will be consumed and it would affect the environment really bad.

[DegenData]

1. How much longer will it be the king?  ETH and other cryptos are faster and have more features, perhaps making BTC obsolete soon if it doesn't keep up. 

2. How concerned should we be about quantum computing?   If the 5 million or however many bitcoins that are lost get their keys cracked it would plunge the price, though that might be the least of our worries if it happened. 

3. How can it achieve a better public image?  Most people who know almost nothing about bitcoin have a negative impression because they only hear about the negative aspects like criminal use. 

[southafricadude]

1: Getting more people and companies to accept bitcoin for payments, and also to want to make their payments in bitcoin - Thousands of people on this forum, and many other websites and communities, yet its hard to find people who accept bitcoin since they dont outright display 'we accept bitcoin'. If more people did this, then more people would be able to spend it too.
2: The amount of KYC there is for using exchanges - There is too much....I dont know who sees that information I am supplying, and I dont know how it is stored and secured, or what happens to that information in the future.
3: The small amount of good decentralized exchanges - We need more of these to start up and soon!

[finaleshot2016]

My primary concern with Bitcoin is the speed and ability to process multiple transactions. If Bitcoin wants to become a primary currency of the Internet it has to compete with the Banking system. At the moment it does not look good.

With Lightning Network there has been a significant improvement but, Bitcoin is still far behind.

I think bitcoin wasn't really far away from the other assets because most of the used coin is bitcoin even though it has a congested blockchain is bitcoin. Bitcoin don't need to compete with the banking system, both business are doing their part on different platform.

Lightning Network really made a big part for the chain but it wasn't made for the whole chain, it's just other layer solutions, means not personally made for the chain.

[minersday]

My #1 concern is that Bitcoin cannot handle being popular, and if it gets more popular, there'll be big problems with expensive and time-consuming transactions. This is basically a concern about micro-transactions (so a daily life thing, yeah) and no user-friendly solution to this problem.

I don't think I will agree with you regarding the fact that you think Bitcoin can't handle being popular. I get the reasons why you think Bitcoin handle popularity but you need to understand that developers in the Bitcoin ecosystem are always searching for ways to make the Bitcoin network very effective. The main concern I think is the most one causing a specific problem in the Bitcoin space is the spread of FUDs by media and people who either do not know anything about Bitcoin or do not really research before making assumptions and claims. FUDs are the real virus in the Bitcoin system causing the avoidance of mass adoption of Bitcoin. FUDs put fear into newbies in the Bitcoin ecosystem and kinda discourages them from really understanding the true purpose of Bitcoin in the financial space.

[tbterryboy]

My main concern used to be about the adoption on Bitcoin, but after reading the Bitcoin white paper by Satoshi Nakamoto and I realized that the main reasons he created Bitcoin was just for cheap and fast transactions, though we have turned everything upside down and now see bitcoin as an investment because of the volatile nature of it.

I compared it as a payment method to other methods there is, and if you check you will see that there are people adopting the method. Just like PayPal, it's not everyone that makes use of PayPal, so that's the same thing with Bitcoin, I am not expecting everyone to be making use of it. You should make use of what works best for you.

[bitvalak]

My main concern used to be about the adoption on Bitcoin, but after reading the Bitcoin white paper by Satoshi Nakamoto and I realized that the main reasons he created Bitcoin was just for cheap and fast transactions, though we have turned everything upside down and now see bitcoin as an investment because of the volatile nature of it.

I compared it as a payment method to other methods there is, and if you check you will see that there are people adopting the method. Just like PayPal, it's not everyone that makes use of PayPal, so that's the same thing with Bitcoin, I am not expecting everyone to be making use of it. You should make use of what works best for you.

Bitcoin has made changes to the payment system to be cashless.
Even though we know that the governments prohibit the circulation of bitcoin but it must be recognized if they have plagiarized what bitcoin has done. And all cashless is now monitored by banks.

[perfect999]

Basically my concern for bitcoin is how will it adopt if the government will make it legal. I mean its quite good though but at some point it would be a really big change to the usual processes. However, I think it can be handled properly and the more it became known to many, the more its security might be compromise as well. Its really quite wierd but we'll just cross the bridge when we get there.

I don't want it too to be legalised by government that may cause taxes in every transaction and they will put restrictions too much but it can help to lessen scam and hacking attempts. This may cause adoption of it will be legalised too. We all don't know what may happen as it gets more popular.

On my opinion, if we don’t want to be selfish, I think that it is better to have a fully regulated and legalized cryptocurrency even if we have to pay tax that will be void of scam than to continue operating in a sphere where there is too much of hackers and scammers nowadays, this one kills faster than anything.

It is gradually that people will start becoming very scared of the cryptocurrency market and then think that it is a market for scammers and if you don’t see anyone participating in cryptocurrency again, it could kill the hype and the believe of people to use it as digital payment, and before you know it, people would start withdrawing their money until there is no money left in the market cap of altcoins again which might even affect bitcoin.

[vintages]

My main concern for Bitcoin is that if it ever become popular it will be centralised by the government especially when it is finally been accepted by the governments as part of the country currency.
Another concern is that after this adoption, many people will hodl it, monopolizing it, and it will become a thing for the rich only.

[Xxmodded]

My concerns focuses if bitcoin will be adopted

1. Scams and Hacks which is very inevitable on the internet. So if Bitcoin achieve mass adoption, scamming and hacking will be more rampant. Non-techy people will be at disadvantage
2. We don't have any idea about its future value. So people will always have to predict what would be it's value in the future
3. Environment. Right now, one concern here in bitcoin is the electricity it consumes. If the mass with adopt it, more electricity will be consumed and it would affect the environment really bad.

Scamming and hacking in bitcoin cases make many investor not safety for investing in bitcoin, company look not agree for accepting bitcoin as transaction payment because many hacking cases with bitcoin now, for the future if bitcoin keep safety and never have hacking cases we don't worry with bitcoin and altcoin become most popular currency payment.

[Oceat]

My main concern for Bitcoin is that if it ever become popular it will be centralised by the government especially when it is finally been accepted by the governments as part of the country currency.
Another concern is that after this adoption, many people will hodl it, monopolizing it, and it will become a thing for the rich only.

In what way do you think they can centralise Bitcoin? It is already in front of their eyes but they can't do a thing about it. All they could was to ban the usage of it but they can't stop it from being used worldwide. I think you've got the wrong information somewhere although it could be a little bit exaggerated on that part of "for rich only". Bitcoin will work in a two way while being traded. They can't make a profit without the small fish remember that.

[pixie85]

My main concern for Bitcoin is that if it ever become popular it will be centralised by the government especially when it is finally been accepted by the governments as part of the country currency.
Another concern is that after this adoption, many people will hodl it, monopolizing it, and it will become a thing for the rich only.

LOL is that really your main concern? If it really is you can stop worrying invest and focus on doing something else while your money grows.

Bitcoin will never be centralized. It's decentralized by nature, you can't make it centralized. You'd have to buy out all the miners and even then you'd only be able to centralize transactions not the coins people are holding and you wouldn't be able to change destination of the coins. You'd be the king of nothing.

The second concern is also funny. If you're afraid that people will hold it and be rich then buy now while it's cheap and hold it yourself. You're funny.

[diahsw]

in my opinion the most feared by people here is the free fall in the price of bitcoin, because it can make a lot of people frustrated, because their investment is destroyed, for other worries it's just a complement ... !!