What problems face Bitcoin?

[MNbag]

What problems in Bitcoin's infrastructure prevent it from being adopted more easily?

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[BlackHatCoiner]

1) Non-regulated form of money.
2) Highly volatile. A merchant will be discouraged to adopt a currency which is seen mostly speculatively.
3) Ignorance about the problems of the current financial system.
4) FUDs about the energy waste, criminal activity etc. (Which may also make them go against it)
5) It's difficult for them to understand the concept; it makes them give up on learning how it works.

[Shenzou]

What problems in Bitcoin's infrastructure prevent it from being adopted more easily?

For me personally the problem that i see facing bitcoin is the use in microtransactions, if ell like we can't be using bitcoin to go and buy regular things from the store and pay for groceries because of the nature of the transaction and how they take too long to be confirmed and how we have to pay for high amount of fees for small transaction, how could we be asked to be using it if we can't pay for small thing, this is the issue that needs to be addressed because once it gets easier to make these transactions, paying with bitcoin will become a normal thing.

[bL4nkcode]

It's more in the volatility, decentralized nature, it was also used to scam, payment of ransomware, used by criminals and etc., said by some oldies in a particular government office which hinder the adoption . That's why it would be better to ban them lol.

While for me, it's all about the large transaction fee if the network is congested, lots of user complain why it's expensive sending with small amount. While there is lightning already, newbie/users just lazy to learn it instead due technical reasons and mostly, the lack of support from the government.

[Zilon]

Lots of reasons but the most common include:
High volatility
Unstable nature
Decentralized which make it difficult for the government to manipulate.
It's the Most secure form for ransomware payment due to its anonymous peer-to-peer network.

Many still complain of the high energy consumption during mining. To add to all this Bitcoin doesn't have an intrinsic value it depends on fiat currency to have its value

[dunfida]

What problems in Bitcoin's infrastructure prevent it from being adopted more easily?

1. Regulation
2. Volatility
3. Scalability
4. Negative views and impressions
5. Not all are ready to know and research about it

But if we do try to compared of things back in the past then we could definitely say that there is really some progress
and development which is really good to look and we shouldnt worry on how things should be done.

[Blawpaw]

What problems in Bitcoin's infrastructure prevent it from being adopted more easily?

Cryptos are still quite cumbersome to use. I guess this is still one of the key issues with cryptos. Adoption will come once we figure out a way to offer a much friendly way of handling and using cryptos. Take Defi for instance; it is even more difficult for someone new to the industry to grasp. The problem with cryptos is that you still need to have a bit of knowledge to dig into how everything works and how to use it. This leaves a lot of people out as they don't want to meddle with something that they don't understand.

[oktana]

I'd say the it could be pointed at government (depending on the location). But! after reading the news about different protests in which people destroy Bitcoin ATMs, in countries like US, Hong Kong, I can see that even fellow individuals are a problem to the adoption. Though there are many other problems, this particular one is troubling because it's the people who need it that are repelling it. Such Irony.

[uneng]

There isn't major problems when adopting bitcoin if you know what you are doing and what you are dealing with. The most common issue presented is volatility, but it's a natural characteristic of bitcoin and can't be changed. An adopter just needs to manage his funds converting amounts needed for daily expenses and emergencies to fiat or stable coin currencies, while holding the rest of the money in bitcoin.

Another point is regulations. For people from most countries regulations aren't a problem, because there isn't any specific rule for bitcoin, so it's pretty possible to use it without annoying interferences from the state (although a simple KYC procedure may be necessary).

And finally, some may say transaction's fees are too expensive, however if you use a third party service like an exchange or crypto banking app these fees will be highly decreased.

[Baskeyairdrop]

1) Non-regulated form of money.
2) Highly volatile. A merchant will be discouraged to adopt a currency which is seen mostly speculatively.
3) Ignorance about the problems of the current financial system.
4) FUDs about the energy waste, criminal activity etc. (Which may also make them go against it)
5) It's difficult for them to understand the concept; it makes them give up on learning how it works.

Bitcoin possess so much treat from government officials and regulatory bodies that do not understand the way it works and intend to condemn it's use.
As listed above, most of the threat that bitcoin possess are are from bodies that are not happy about a currency that cannot be controlled or regulated by them.

[tippytoes]

1) Non-regulated form of money.
2) Highly volatile. A merchant will be discouraged to adopt a currency which is seen mostly speculatively.
3) Ignorance about the problems of the current financial system.
4) FUDs about the energy waste, criminal activity etc. (Which may also make them go against it)
5) It's difficult for them to understand the concept; it makes them give up on learning how it works.

Bitcoin possess so much treat from government officials and regulatory bodies that do not understand the way it works and intend to condemn it's use.
As listed above, most of the threat that bitcoin possess are are from bodies that are not happy about a currency that cannot be controlled or regulated by them.

Maybe you mean threat here. Anyway, each government has their own approach towards crypto. Some are totally opposites, like El Salvador and China. While El Salvador is embracing it fully, China is totally banning its usage. But I don agree that somehow, the government has its say regarding its existence to their jurisdiction. And the usual reason why most merchants are still hesitant to accept this as payment method is its volatility factor. Anyway, despite all these hurdles, we are seeing that bitcoin continues to grow and adoption is still increasing.

[OgNasty]

What problems in Bitcoin's infrastructure prevent it from being adopted more easily?

A limited blocksize makes cheap transactions unreliable and puts the network in a position where if it becomes popular, it becomes unusable while maintaining it's security and game theory principles.  The community also urges users not to actually use their Bitcoin, and just hold it.  Many people identify things like that as a type of Ponzi scheme and are reluctant to enter the space as a result.  Then there are the vendors who need a cheaper method of transacting in crypto and those afraid of the community that engage in censorship of others causing them to develop their own solutions to compete with Bitcoin.  

In short, the only problems with Bitcoin are man-made problems to push man-made solutions under the guise of decentralization while giving early adopters a larger slice of the pie.

[carrigan]

The hindering nature of cryptocurrencies is known to many to be unstable and many to call it a scam. In addition, there are many cases of crime and fraud arguing for the use of BItcoin. Things like this make the face of Bitcoin look bad, when in fact Bitcoin is not that bad there are many positive things that can be obtained if you use it well and effectively. The problem of large transaction fees also sometimes makes someone annoyed and difficult to adopt BItcoin.

[Coyster]

In addition, there are many cases of crime and fraud arguing for the use of BItcoin.

AFAIK, this isn't really directly a problem for the Bitcoin network, but a problem for the Bitcoin user, there are quite a lot of "crimes and fraud" perpetrated with fiat, but you don't see people pointing it out and calling it bad cause of that, the government through the help of the media just make popular this sort of stories to reduce the population of Bitcoin users cause they can't control the network, cause I can't understand how the network can actually be blamed for the folly of some of it's users who refused to learn want was necessary.

[Ziskinberg]

Aside from those things/factors mentioned above, being uneducated about Bitcoin. If this will be taught in schools, I believe this could help for a better and wider understanding of Bitcoin and the entire market but for now, we can just found this online which we couldn't blame that people are still doubtful about this. Because people won't just invest money without knowledge, they need some guidance, especially for non-techy individuals which have become a challenge for them. They'd rather choose fiat instead as they are more comfortable than this Bitcoin.

[bhadz]

The actual fear of volatility and FOMO from people. This isn't an actual infrastructure but this scares a lot of people that it can correct at any time and their investment will actually go lessen the way they're expecting it a lot. Although on the other hand, it's not actually a problem but it's typical in such markets including bitcoin's market.

[TravelMug]

It's more of this unregulated and decentralisation.

That's why governments or global financial institutions are making a move on it since 2017.

But the thing is that it's also the biggest reason why people all over the world wanted to dap themselves into the market because they can have financial freedom from their government.

[yhiaali3]

In my opinion, the main problem that prevents the adoption of Bitcoin is not decentralization or extreme price volatility, but the problem is the delay in transaction time and high fees. How can Bitcoin be used in daily transactions when you need several hours to get the transfer and may take several days if the network is congested? Of course, this is in addition to the high network fees when congestion.
In my opinion, unless the problem of delayed confirmations on the network is resolved, we will not be able to use Bitcoin in our daily lives to conduct our financial transactions.

[Darker45]

As far as Bitcoin's infrastructure is concerned, there is really not much problem. I guess the main problem is that the network is prone to congestion, and when that happens the fees will rise to terrible heights.

As regards volatility, public perception, lack of regulation, and so on and so forth; these are not problems in the infrastructure of Bitcoin. These are external problems. These are not Bitcoin's problems at all. However, it is unfortunate that they also contribute significantly to Bitcoin's slow adoption pace.

[franky1]

volatility is caused by so many exchanges with such little coin on the order lines

when orderlines are 0.001, and the price change per order is like more then 1 penny in reality. a currency does not need much to shift +/- a dollar in milliseconds

most public exchanges are bot driven. where most orders are not 'placed to fill'. but 'placed to wall' where by if the price does move near them the bots cancel and re order in a different position.

this is not about actually doing buys/sells but to try to follow/sheep other exchanges.
this means that a user with enough actual coin can easily shift the price and cause other exchanges to shift without actually having his coin on those other exchanges.

when people learn that the bitcoin price is not based on all ~18mill coins.. nor even the presumed ~2mill coins sat in exchange wallets. but based on simply the current price of a 0.001 coin orderline being bought.
then people will realise its not the coins fault. but the exchange orderbook fault that allows such volatility without any 'circuit breaker' style of exchange tools