What problems face Bitcoin?

[The Cryptovator]

I think only and one problem exists in Bitcoin which has been preventing easy adoption. That is the centralized organization unable to control Bitcoin due to the decentralized technology of Bitcoin. As a supporting centralized organization shows much more reason like using money laundering, crime, and consuming energy. But I think it's just centralized organizations like the government that want to control Bitcoin but they still didn't find any way how to do it. Whoever talking about regulations, does it possible a decentralized asset regulates 100%? I don't think so, if I choose centralized storing methods, then they could regulate it. Otherwise, it's not an easy task at all and that's why the government varies rarely allowing Bitcoin adoption.

[nullama]

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.

Lightning on a mobile wallet works great though.

In my opinion that really solves that problem. That's actually how people in El Salvador use Bitcoin every day.

Lightning is not perfect, but it works great for small amounts. You can always keep a small amount in the mobile lightning wallet, and the rest properly secured in cold storage.

[franky1]

Lightning on a mobile wallet works great though.

lightning is a different network using units of account that are not bitcoin/sats. they are a thing called millisats. the transaction format of a milisat payment does not even function if you took that raw data and broadcast it to bitcoin as is.
lightning is not bitcoin. but can bridge to bitcoin by preconvertion on the lightning network to make it work in a separate function called close session. which is a different thing than the in-LN payment system

so bitcoin if you only talk about bitcoin does have a problem. the solution is not lightning as thats like saying the solution to bitcoin is a crapcoin. or pretending that bitcoin does not have a problem because a crap coin is bitcoins solution.

its like saying the solution to gold. is bank notes. yet everyone knows a bank note representing small amounts of gold stored in a vault is not actually gold, its paper
..
hiding bitcoins problems by telling people to offramp to another network and another unit of measure. is not solving bitcoins problems. its just promoting to use another network and avoid using bitcoin.

anyone suggesting or promoting to solve bitcoins issues by getting people to move over to another network. is not really helping bitcoin.
..
remember what happened to gold. citizens had gold. then got told to hand them into bank vaults and be given paper receipts(gold backed bank notes(iou)). over time people trusted the paper receipts and didnt value real gold.
now people have gold in their home in the form of device hardware, tooth fillings, but now they dont value it as a currency or an asset. they would rather throw their device in the trash when it breaks rather than recover the gold. instead they are blindly trusting the other unit of measure(bank note).

LN is in the same process. they want the deposits but they want high bitcoin fees to avoid withdrawals. they instead want people to withdraw out of LN via altcoins like litecoin, which offers cheap fees. so that the channel counterpart(hub/bank) can take the bitcoin and the user gets the altcoin.

LN is not a solution.. its a replacement. much like nickel and brass coins was a replacement for gold when people dont want bank notes

[Rajamuda]

The point is still in high doubt regarding all the characteristics of Bitcoin. We think... it's worth it, but there are still many people out there who have different opinions on their opinions or their assessment of what they value. Bitcoin is indeed on the threshold of consideration, but its role will not sink, many positive things can still be generated from Bitcoin for its presence and popularity, it's just that overall haven't really admitted it yet.
The storyline and all the impacts that will result have not yet fully occurred, let's see how the whole government responds to this in terms of the future and whether it can advance the country or not.

[dezoel]

I think the major problems that bitcoin is facing that is making it not to gain much adoption from people, the first would be that it is highly volatile. A lot of people are afraid of the volatile nature of bitcoin and they are always avoiding it because they fear that the money they will be putting in bitcoin might lose value at the time they might be in the need for it, so they just say away. Then another problem I would mention is FUDs such as when people say that it is being used by criminals and terrorists, lol.

FUDs like this usually discourage a lot of people, nobody would want to be making use of a currency that is believed to be used by criminals, but then they are forgetting that criminals also make use of Fiat and majority of criminal activities are carried out by fiat.

[Ararbermas]

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

for me probably how it can be used to any crimes and of course how people become untraceable when it comes making transactions online.. Probably that's the common problem with decentralised wherein reason there are some countries that still don't want to adopt bitcoin..try to watch silk road movie because for sure you can get some leason why its happening to bitcoin..

[pulegram]

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Pulegram started a platform Pulegram & By using  digital asset can be converted into desired form.

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[Sir Legend]

I think the biggest problem facing bitcoin is the fear of the state because bitcoin users will leave fiat, of course the state will be banned from bitcoin and this has happened in many countries because countries value bitcoin transactions continue to increase.

[coupable]

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.

1) We already have scriptural form of money. I don't think it's a big issue to add another layer for bitcoin. Some banks already adopt bitcoin or other altcoins, while some other businesses use paiement gates like Bipay.
2) It's just a matter of time until bitcoin reach a certain stability after solving the blockchain related obstacles. As time goes by, bitcoin will be less volatile, like all other form of value (gold,metal,etc).
3) This can be considered as a big problem for bitcoin in long term. If people won't be interested to change their attitude toward money ad monetary concepts in general, nothing can be done for short term.
4) FUD is also a matter of time as more companies adopt bitcoin in large scale.
5) I think this is the biggest issue but fortunetly we can handle it by spreading knowledge about Blockchain.

[NelfiNovita]

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.

I think all of this is true but the most influential is the currency system which is difficult to regulate by the government.
If the bitcoin financial system could be regulated by the government, the negative impact of bitcoin would disappear, for example embezzlement of money, buying and selling drugs and buying and selling illegal weapons.
At this time there is no government that can regulate the crypto currency system or bitcoin, therefore some governments can only ban Bitcoin in their country because bitcoin cannot be regulated.

[V-t.Ester]

To my mind, one of the biggest problems that influences on BTC’s adoption is volatility and readiness of Bitcoin hodlers and traders to spend their BTC for everyday goods because of that volatility. They 100% knows how BTC suddenly jumps in thousands up and down as well. Moreover a lot of investors just HODL. They don’t want to spend their BTC because believe in its future growth “to the moon” and want to safe their coins up to that time.

[QueenVera]

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

The only problem I can think of is, it is a threat to the exiting Fiat currency which is what is preventing it from been adopted although that thinking will be changing soon as countries has begin to pick interest in the currency. It was never going to be an easy attempt by Bitcoin to overthrown other currency (as that is the only means of the government controlling the people but steadily it has been doing that).

When the time is due, the government and regulatory bodies will realize they stand to benefit more from the blockchain technology and Bitcoin itself and instead of fighting it, they will embrace it.

[Alisha-k]

One of the major problems hindering Bitcoin from being adopted is the transaction fee, unlike fiat and other coins, the transaction fee paid to block chain is high, also, bitcoin uses several medium of confirmations, this can be so discouraging especially for person who would love to use the medium in their business points.....

[hatshepsut93]

People have no reasons to look at Bitcoin, because they are generally satisfied with banks. Even if they have a problem with their current bank, they will just choose from a dozen of alternatives rather than consider crypto. And the problems that bitcoin enthusiasts often mention - like frozen bank accounts, long transactions times, all that stuff - it only affects a tiny portion of users, so really most people just don't see the benefits of using Bitcoin as a currency. This is why hodling/investing is the biggest use case of Bitcoin right now.

[OgNasty]

The most important issue in my opinion is the inability to scale on-chain.  The limits put in place have stifled Bitcoin's developer community and largely forced those who remain to develop on a subpar chain as they risk being passed up by newer and shinier innovations.  Projects that once thrived on Bitcoin's blockchain are now graveyards of what once was while all attention is on assimilating with the legacy system.  I think Bitcoin's development away from forging a new path and towards legacy systems is going to end up being one of the biggest missed opportunities in the history of mankind.

[Rishabh riyz]

if you see the micro transactions , anonymity in transactions and the highly fluctuating value are kinda the main hindrance for many countries to  not be pro-crypto  but preferring instead to take a wait-and-see approach .
the microtransactions makes BTC less friendly for those who would want to use for daily expenses the transaction fees would be greater than that of the amount to be paid itself  and it also takes time for small transactions , the highly fluctuating value of BTC is a problem itself when using BTC as  a mode of payment , it was the main cause why steam stopped accepting BTC as mode of payment in December 2017, well as an asset its very good for  a digital currency to gain  its value but as a currency its the main obstruction.
the anonymous nature of transaction is the primary reason why many government fear accepting BTC as they would have little to no information about where the funds of their citizens are actually going , they would not be able to put taxes  on any trade , and the worst of all it could be used to fund criminal organizations without them even having a clue who funded them , well fiats are being used now  for funding criminal activities  but with BTC in the motion no-one could ever trace the money back.

[Kakmakr]

Well, infrastructure will point to physical Internet infrastructure and the availability to access the Internet. The connectivity issues in 3rd world countries are huge ....with rural areas that might not even have electricity. So even if you place the needed hardware, people will still not be able to make transactions due to the lack of Internet access.

The way to address this, will have to be wifi hotspots in areas where commerce takes place... for them to access their Lightning Network wallets in close proximity to where they want to use their bitcoins. 

[GeorgeJohn]

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

Their is no need to repeat what people rendered concerning this question, but what i actually denotes is the primary thing which you are meant to obtain that it's because of it's volatility, and another challenges found out there that might cause bitcoin infrastructure is due to congestion and network challenges to process its data, because if their is much congestion it will really affect, and is very obvious.

[KingsDen]

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

1. Anonymity: People has trust issues based on the part of the world they come from. Anonymity from the inventor, Anonymity of the users too.
2. Technicality: Bitcoin is too technical even to the adopters, let alone people who has not even believed in the process. Technically in the decision making to technically in usage.
3. None Tangibility: If bitcoin can be printed on paper like 1BTC and be carried along, you will be mad at the rate of adoption.
4. Volatility: Now that bitcoin is $60k+, you will not hear the news, but if it dips to $43k, you will hear the news everywhere that bitcoin has crashed.
And lots more.

[Imran232]

I don't know what could be the main problem, but what I am hearing from different press conferences is the statements from our so-called IT specialists, IT minister, finance minister, and government head bank. According to them, bitcoin has no authority to control anything. It is fully anonymous, so we can't trace its users either. And according to the finance minister, its price is volatile. So our people can lose huge amounts of money. Then, according to the bank, it has a money laundering problem. Some criminal buroe agencies are used for criminal purposes, so we are unable to trace any criminal activities. And according to some purlaments, energy waste is a problem. I hope so. I don't care about anything. But I think everything will be cut very short very soon. And it will be legal soon.