Why some writers think cryptocurrency has failed to fulfill its main purposes?

[Brushless4500KV 4214]

When I read articles about cryptocurrencies I come across some writers who believe cryptocurrency has not been a successful currency. They state some reasons for this:

 

1 - Few shops or retailers in the world accept crypto payment method. They welcome fiat buyers.

2 - The crypto technology is complex and it is hard for some people to create a wallet and convert their crypto to fiat

3 - Cryptocurrency is safe but some trading platforms are unsafe and hackers may run away with people's money

4 - Cryptocurrencies have high transaction fees

 

I extracted the above reasons from most articles which claim crypto is on the wrong path and it has not proved what it promised at the beginning. Do you agree with these writers? Why do they think like this about cryptocurrency?

 

Waiting to hear your words.

Edited December 14, 2019 by Brushless4500KV

[Interface User 1070]

Because crypto currency is still young. As a young many limitations was exist but still wait for the next decades, all of that limitations will be gone too soon especially the first one.

Edited December 14, 2019 by Interface User
Correction for words

[Brushless4500KV 4214]

Quote

Now crypto coin is going down and up.in this situation everyone think crypto can't fullfil their progress.but i think some days later crypto coin up and all problem will solved.

This topic is not about profit and trading. This is about the expectations from cryptocurrency and how it has performed during the first decade. Crypto world promised some things to people but some writers believe crypto has failed to be a fast and easy payment method that can be used by anyone without problems. It seems that some writers only write negative points about crypto and try to ruin its reputation. I think this kind of writers are those who are afraid of crypto mass adoption and maybe they are fiat supporters who were hired to stop cryptocurrency progress.

I agree that cryptocurrencies are not perfect yet and there are still some defects that should be taken into consideration but they have been successful in some areas like money transfer without limitations.

[sdsonjoy50 886]

 All of the things you mentioned are fine, but I don't think they will have much impact on the way crypto is being handled in a day-to-day manner, I think people will pick up digital currencies for easier transactions, and most of all.  The demand for crypto currencies in the Sector Online Income Payment System will increase day by day.

[AL SHAIMON 1293]

I do not think cryptocurrency has failed to fullfil it’s main purposes. Bitcoin price is down now but it is not the end. We all saw that bitcoin hit 20k in 2017. But now it’s price is little down. But it will pump very soon. 

[tienda 8776]

Yes of course and I agree with some who talk about Coinbase and Blockchain, but between them I prefer and a lot of people prefer Blockchain because is worldwide. About Coinbase choose their members from just some countries.

[Valente Ibrahimo 56]

It seems that most of the comments I've seen so far do not respond to what was posted.

I cannot say that cryptocurrencies have not achieved their primary goal. They have achieved part of what has been designed, but what has been going on lately is selfish people who try to overwhelm and manipulate cryptocurrency information, making it difficult for laymen and newcomers or newcomers alike. With this manipulation, it creates uncertainty for people to adhere to cryptocurrencies, but either way, we have to work hard to make everyone follow cryptocurrencies as their provincial pantrimony.

[hakimgentlemen 671]

Most of the users are new traders in the world of crypto currency, it is for this reason that the messages largely show this fear and lack of confidence towards crypto.

[kyoukage01 3181]

13 hours ago, Brushless4500KV said:

This topic is not about profit and trading. This is about the expectations from cryptocurrency and how it has performed during the first decade. Crypto world promised some things to people but some writers believe crypto has failed to be a fast and easy payment method that can be used by anyone without problems. It seems that some writers only write negative points about crypto and try to ruin its reputation. I think this kind of writers are those who are afraid of crypto mass adoption and maybe they are fiat supporters who were hired to stop cryptocurrency progress.

I agree that cryptocurrencies are not perfect yet and there are still some defects that should be taken into consideration but they have been successful in some areas like money transfer without limitations.

I agree that cryptocurrency is complex as you stated in your first post:

Quote

2 - The crypto technology is complex and it is hard for some people to create a wallet and convert their crypto to fiat

But those other reasons can be overcome if only the people are more open-minded about it. Progress is being made to make people more aware of it, but these so-called "writers" are among those that slowing down its progress. And if what they write are only negative statements and criticism only, and not even a shred of a positive point, one might wonder if whether or not there is malicious intent involved in it.

 

But then again, as they say in showbusiness, there is no such thing as "bad publicity". We can use this to our advantage to spread the knowledge of cryptocurrencies further.

 

Can you give links to a few examples? We would really appreciate it.

 

[AL SHAIMON 1293]

I do not think bitcoin has failed to full fill his main purpose.  We all know that there are many spammers and bad people in crypto world. So they think bitcoin has failed to full fill his main purpose. 

[miskyming 1588]

Nah I don't agree with this writers, some online stores accept cryptos. About the fee of cryptos there are many cryptos that has low transaction fee, just like XRP and DOGE. 

[Benjamin 84]

We can say that some retail stores are accepting crypto as a payment because all people in our society have an lack of knowledge about crypto so that we need to spread the importance of this to become successful the cryptocurrency and no one will bashed this currency.

[iloveyobit 6599]

Some people hate this technology and crypto because they lost a lot of money in it because of lack of experience and study, while others find it difficult and unacceptable to the mind, but I am only interested in making money because I am not a big investor until I care about technology.

[alexisfuentes 2130]

On 12/14/2019 at 10:25 AM, Brushless4500KV said:

<>... I come across some writers who believe cryptocurrency has not been a successful currency. They state some reasons for this:

...<>

Some Writers!!

These are the opinion or expert bloggers!! - ??

You cana analize without being connoisseurs of Blockchain and Crypto, objectively.

Crypto currencies are a revolution and 10 years have passed, the reality is that the changes have not been so drastic but very slow.  If you compare it with others technological revolutions of the past it has been very slow, but as an economic revolution at the point where it should begin to cause effects in the short term.

 

We are running the danger is that it becomes part of the system and does not become a transforming entity such as cryptocurrencies should be.

 

[Brushless4500KV 4214]

I agree with most of you. In my opinion, cryptocurrency may not have been successful in all aspects but it has not been a failure too. Every new technology needs time to improve and everything should be tested and tried by users so that developers receive feedback and use it to find the flaws. For example, some developers tried to improve bitcoin slow transaction time and mining difficulty by developing other coins like ETH and BCH.

So, it is not fair to state that crypto has failed to impress because it has already transformed monetary and payment system totally. I think those negative writers are from a group or organization who are trying to ruin crypto reputation because they are afraid of it. Maybe cryptocurrency progress is harmful for them and they don't want anyone else to gain benefit from it.

[Syedbesharat 5423]

On 12/14/2019 at 7:25 PM, Brushless4500KV said:

When I read articles about cryptocurrencies I come across some writers who believe cryptocurrency has not been a successful currency. They state some reasons for this:

 

1 - Few shops or retailers in the world accept crypto payment method. They welcome fiat buyers.

2 - The crypto technology is complex and it is hard for some people to create a wallet and convert their crypto to fiat

3 - Cryptocurrency is safe but some trading platforms are unsafe and hackers may run away with people's money

4 - Cryptocurrencies have high transaction fees

 

I extracted the above reasons from most articles which claim crypto is on the wrong path and it has not proved what it promised at the beginning. Do you agree with these writers? Why do they think like this about cryptocurrency?

 

Waiting to hear your words.

We have many crypto currencies.After few years, only the most strong base ,benefical to people will survive.This can be under stand from history when the dot com era was started in the 1990s. Countless tried only a few one succeeded.The economist called it "creative destruction".

[Sumayya 493]

Bitcoin will have so many obstacles, like hackers stealing and scammer fraudulent, if we are to look that, it will not allow us to move to our next pace and Bitcoin will collapse

[andrehol 16294]

Bitcoin is 10 years old. technology is still developing. Don't fiat money steal? there are difficulties when buying goods. But in the world there is no currency that can be paid in any country in the world! $ Must be changed to local currency! Crypto shortcomings are temporary!

[soupster 239]

in addition to those nowadays people are seeing crypto as an asset, as a money making machine and not what it was actually intended for by satoshi which is for transactional and exchange purpose just like dollar euro and so on.

[Satya31 865]

I think because the crypto was targeted a more rapid growth but it is not grown that much. And also many countries are not accepting this as a legal currency. It seems that they expect many more financial sectors may accept this. But it is limited. And the security also fail to stop the scammers completely. 

[iloveyobit 6599]

All this because the identity of Satoshi Nakamoto is still hidden until now. I am sure that if the real Satoshi appears, the price of bitcoin will rise again and the culture of crypto will spread throughout the world.

[lucky80 1046]

On 12/14/2019 at 9:25 PM, Brushless4500KV said:

Do you agree with these writers? Why do they think like this about cryptocurrency?

Disagree. Some writer is not being honest with their article. They probably paid to take down our world. That is why people should not believe in anything they read. We should wise and make some research.

[Pearls Before Swine 815]

OP, those are actually all valid arguments as to why bitcoin hasn't caught on with the masses yet.  That doesn't mean it or other cryptocurrencies have failed, however.  If you look at how much bitcoin is going for, it's obvious that there's a *lot* of demand for it.  It's at $7200 right now, and even though it's down that's still quite high.

 

Bitcoin (and other coins) have utility in gambling, on the dark markets, and other uses.  Those shouldn't be discounted when you look at how 'useful' it is.

[duncun007 3577]

its only purpose was to be decentralized and its still decentralized till today, no government had a hold of it and started controlling its price which is the point. retailers accepting it and fees are problems we can deal with in the future.

[Afrizal rahman 2636]

Everyone has different thoughts. Maybe the writers wrote down how they felt. But for me Crypto is the best coin that will be good for the future. Where many of these coins have been accepted even though some still reject them.