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

[Rudro88 371]

The way some people feel that their purpose in cryptocurrency has failed is actually that there is a failure in their work in cryptocurrency that has resulted in failure.  So in the case of crypto people, at the precise level, trading crypto using good technology will not be a waste.

[BTC Future 3946]

Mainly from my talks with merchants and business I've concluded that they have two basic arguments:

 

1) They don't trust cryptocurrencies. They think that hey are created by scammers and that they run like ponzi operations bringing people in to buy and boost the price and dump at a certain point to take profits.

2) They feel that they don't need to change their banking habits. E-commerce and credit/debit cards works for them even if they wait a coulpe of days to see their payment in their account.

 

They basically trust the banks and the monetary system more than Bitcoin and cryptocurrencies.

[Win 1015]

I agree that cryoto currency are nit perfect and i think the main reason why the price sometimes are going down its becouse if lits if withdrawals and the price of pumping is becouse of lits of buyers 

[bentayebsalah 2280]

I think that all of these reasons have solutions that can be overcome and the cryptocurrency has succeeded in achieving its goals as it is getting more and more popular in the world.

[McCree 713]

It's easier for someone who is skeptical of the future of cryptocurrencies to just decry and criticize them than contributing to the usefulness and adoption of these digital currencies, which requires actual code, meetings, summit hostings and help desk manuals.

[AL SHAIMON 1293]

22 hours ago, Nehak said:

I think the same as its still not able to meet the purpose and no one really knows the purpose of the Bitcoin and a mission after the launch of the Crypto currency.

I do not think so. people think that because no one controlling bitcoin but it has a very good purpose. I think bitcoin will more grow up and it will accept by all.

[Agios 1763]

Yeah I agree with these writers, because Cryptocurrency (Bitcoin) has failed with the initial concept, which is as a medium of exchange, but is more widely used as an investment and trade commodity. Transactions take a long time to confirm and have high transaction fees.
 

[Abo3laa 813]

I think digital currencies are encrypted achieved a lot of gains and success, but if we talk about the goal that was to be achieved may be not yet determined due to the high pressure imposed by some government or large global banks

[Amirul Islam 382]

On 12/14/2019 at 8:25 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.

There are many reasons behind it. I think I can't explain all of them. But I can give you some hint about it. Scammer and fake project is one of the most important reason for this.

[avatarkiyoshi 270]

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

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

4 - Cryptocurrencies have high transaction fees

I disagree with those statement.

Cryptocurrency can be easily to learn, there are bunch of tutorial to provide how to use it and also how to convert it to fiat.

Cryptocurrency has almost free transaction fees, we talk about cryptocurrency, not only Bitcoin.

[Badhon420 126]

You can easily tell you which usually a lot of stores are agreeing on crypto in the form of charge as everybody in this particular population expect to have an absence of is crucial crypto ın order that excellent artwork I just extended the benefit from this to start to be triumphant all the cryptocurrency resulting in nil a should bash this approach cash.

[Ayush Singh 1175]

We can say that it has not been so much successfully achieve its objective and purpose for which it was established but we can't say that it has been unsuccessful currency because it will take some time slowly there will be a changes in the the mindset of the citizens throughout the countries and they will start adopting technical currency.

[fuer44 1083]

in my opinion it makes little sense, because as a transaction tool fees should be as low as low or even free. if the reason is due to high transaction costs, then that is clearly a rational reason.

[Irungu 4299]

I  think this is because, most of them though the adoption of  crypto currency is very fast and so many other people should be able to offer the best of everything there is a lot of good ideas that are usually followed by it, the adoption period has really taken such a long time and it becomes uncertain if people will still be interested with the same coin as we can see it

[Vivek1997 437]

Yes brother because of complexity of cryptocurrency processing including everything trading, investing, mining, withdrawal, deposit, transfer, etc. Common people's don't know about it. And this is also a big reason why cryptocurrency not getting success even after such huge demand in market. Also there are many site which are not that secured and so many cryptocurrency related fraud activities going on and this is making doubt on crypto security. Thank you.

[Mukty112 68]

Yeah there are many people who thought things like that i don’t know why they think like that and also  i think crypto price may down but it alsl increase sometime and also i think bitcoin fullfilled fir which purpose itvwas created.        

[lifelline1262 15]

This is because the way cryptocurrency has been changed by some people, theya re making it to become centralized system whichw as not the mission of cryptocurrency

[Opinder 1310]

On 12/14/2019 at 7:55 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.

Crypto is created to eliminate involvement of third parties between given and taker. And it is doing the same work. But crypto is new and it is not accepted everywhere, but in future it could be used everywhere. I do not think crypto is on wrong path. If you talk about hackers then it is not wrong with crypto's aim. In future you would get proper security from hackers because crypto market is improving day by day.

[Brushless4500KV 4214]

43 minutes ago, Opinder said:

Crypto is created to eliminate involvement of third parties between given and taker. And it is doing the same work. But crypto is new and it is not accepted everywhere, but in future it could be used everywhere. I do not think crypto is on wrong path. If you talk about hackers then it is not wrong with crypto's aim. In future you would get proper security from hackers because crypto market is improving day by day.

The writers who blame cryptocurrency want to say that digital currency has not been as successful as fiat and doesn't have all necessary features that any currency should possess. This is true to some extent but some writes are really exaggerating the issue and maybe they are hired to write negative facts against crypto to ruin its reputation. I created this topic to say that cryptocurrency is still an infant currency with no more than one decade of presence. It needs more time to demonstrate its real capabilities. We need more supportive articles and books to help crypto to enter more societies.

[babaji 1228]

On 12/14/2019 at 7:55 PM, Brushless4500KV said:

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

Waiting to hear your words.

people fear what they don't understand, that has been the philosophy forever, and hence those who do not understand crypto are directly against without even hearing the benefits of crypto. As for complex technology, no one said it is going to be easy, this is only for those people who are educated, and knows who to handle technology. The world is moving to an upgraded state, and we all have to upgrade ourselves, or leave the race completely.

[PiroSense 2681]

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

4 - Cryptocurrencies have high transaction fees

This depends on the context. Remittance fees on international fund transfers often has higher fees than some cryptocurrencies could offer. And the fact that your funds go through an intermediary that also requires handling fees, makes it more expensive to transfer than cryptocurrencies.

[Captain Karim 0]

I do not agree with these writers. What Crypto has achieved in ten years is the inability of any market in history to achieve it, and every day this field is developing for the better.

[Upright 2688]

The matter of scalability has always being bone of those debates when involving how far and what the Crypto space and community to be looking at for it's future, is the talk of price scalability. As many analyst tend to have different factors on the Crypto market  have this fluctuating nature of price booomerang and uncertainty at some points in time

[MCSGlegend 2210]

I do not agree with them , these are incorrect conclusions due to the fact that they are probably poorly versed in cryptocurrencies, many stores ( including online stores) have started accepting cryptocurrency and it can be paid for .

[Abiaan 1209]

On 12/14/2019 at 8:10 PM, Brushless4500KV said:

Cryptocurrencies have high transaction fees

i disagree with this point because not all crypto currency has higher transaction fee , there are coins like ripple , litecoin, dash , etc have very less transaction fee and far more faster than bitcoin