Post
Topic
Board Bitcoin Discussion
Re: What is the obstacle of Bitcoin?
by
keshav.sawant.83
on 18/01/2019, 15:53:12 UTC
On the top of my head, here's a few.

  • Liquidity: As liquidity is low, big market orders are expected to significantly move the price of bitcoin or cryptocurrencies in general. This is something that will be "fixed" as more money goes into the bitcoin markets.
  • 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.
  • Misinformation/Misunderstandings: There are so much misinformation spreading about bitcoin. Namely, "bitcoin is not scarce, people can create forks", "bitcoin is only used for drugs", and many more. There's so much misunderstandings of people in social media and on television; and what's worse, is that they're spreading their misinformation! Causing a sort of domino effect on people's impressions of bitcoin.

I agree. I would like to add two more point.
  • We live in communities and we are responsible members of our society we are not machines or robots. Non-technical people need some one to trust upon for what they might have no knowledge of. Money is basic requirement so they trust banks to work properly, like you and me depend on farmer to grow good quality crops. Bitcoin is like freedom but freedom as in "You are free to build your own road to your university." or "You are free to take up law against person tried to kill you.". People are good in doing what they do best. If you ask a APP developer to build road or a bridge over sea he will fail.
  • Their are no local exchanges, People have to depend upon offshore exchanges with zero liability. They have to send their personnel and financial information to this offshore exchanges. P2P exchanges are the boon but only for technical person. And majority of people font care about privacy and freedom as long as they are not doing anything illegal.

People should take up initiative to start Local Independent Micro Exchange. LIME is an exchange just for local people in your community. This will save people from sending their personal information to some offshore exchange. Through LIME non-technical people can trust you and get introduce to bitcoin. Let the local ecosystem grow and everyone will follow.

I did it so can you.https://bitcointalk.org/index.php?topic=5098721