The five major threats facing bitcoin

The five major threats facing bitcoin

      All revolutionary technology will have such a group of opponents, the negative impact of their extreme rendering of this technology. This phenomenon has always existed, and will continue to exist.

Fifty years ago, some people think that the idea of personal computer is very ridiculous, why do people need an automatic computing equipment? But today, life can not lack of personal computer.

Automatic teller machine, also known as ATM, when it appears, some people think that this equipment is not necessary. After the end of business banks who will need to collect the money? But now, more and more people use ATM instead of lining up to the counter.

Bitcoin relative to the main theme now is a new concept, therefore, it can not avoid the negative and offensive public impression. Admittedly, digital currency has its enemies, real or perceived gratitude. What is the biggest problem now facing?

Centralized management of bitcoin

The concept of mining, many just contact bitcoin people, will feel very strange. However, when the decomposition point to the confirmation of the transaction, which is very reasonable. It also has more meaning, each participating node to confirm the transaction have the opportunity to get the block reward, but could never happen.

The problem is now a few nodes get inspired, this is because there are people in the bitcoin SHA-256 proof-of-work algorithm designed a powerful machine, which changes the decentralized and open bitcoin.


Power curve: last year, bitcoin mining network difficulty

      In fact, the bitcoin is concentrated, is only suitable for those who can afford the expensive hardware ASIC people .


Although bitcoin this great technology to solve the problem of double, but he but it is for all kinds of mistakes, theft and fraud and lack of concern. This kind of anonymous digital currency to attract those who should not attract people, they want to plunder those bitcoin rising prices to attract people from the past. Whether it is illegal online transactions, buy low sell high manipulation or they are notorious repute of the exchange, the industry cast a dark cloud. And every bitcoin theft or fraud, will cause the attention of mainstream society.

             MT.GOX Once the largest market share exchange

    When bitcoin leaders frustrated in the Bank of America before, these persons should bear the responsibility. These people make bitcoin problems in consumer protection, because of these tricks who secretly makes those who want to learn and link bitcoin people did not get a good experience, this is a problem.

Reactionary supervision

According to the coindesk2014 in the first quarter of the bitcoin country report, in 73 major countries, 12% countries adopted on bitcoin regulatory measures, these countries bitcoin view is hostile or feel it is controversial.

        Some countries take on digital currency action than their public attitude is more strict and against. For example, in India, a bitcoin exchange was hit earlier in the year, led to a number of bitcoin business ceased operations. In China, bitcoin businesses are facing hard times, because Chinese government to suppress bitcoin activities. In addition, Russia is rumored to prohibit the virtual currency, so that the organizers have to cancel scheduled bitcoin summit held in russia. These initiatives rather than government officials, as it is these countries bank bitcoin attitude. This shows a lot of financial system and do not want to bitcoin competition, they are more willing to get rid of bitcoin.

The lack of support for mobile platforms

        Since last year, the Apple Corp to take positive measures to avoid the user to wallet, through the APP STORE send bitcoin in addition, Google Corporation are not allowed to use bitcoin payment application app. 虽然这阻挡不了开发者对比特币手机应用的热情,但是这也损害了比特币的生态系统。 Bitcoin is not willing to compete with these big technology companies, they like the government, with their rights to bitcoin away, this is their ecosystem.

     Bitcoin with remote payment smart devices increase?

      Bitcoin is the best method for remote payment. This may be alternative to credit cards, especially in the mobile phone or other mobile device remote processing. For remote send and receive payment information, bitcoin is better than using QR code. Using Bluetooth technology, near field communication (NFC) or other wireless technology may change people’s way of payment. However, because the result will be related to the billions of dollars, now the big companies in the technology industry will make every effort to prevent these innovative technologies, although they cannot control these.

Low awareness

Based on these, it is difficult to say most people would be willing to use bitcoin. Of course, there are still many benefits of using distributed on monetary theory. That day for those who just want the money in the Bank of the people, what is the value? One of them is often banks across the border, and the global economic environment since 2008 is very difficult. The emergence of bitcoin for those who are tired of traditional financial institutions who brings hope.

        ? ? Circle and Bitreserve Two bitcoin startups, they have recently disclosed to the digital currency to the public plan. They plan to put the bit ? ? Coin packing up, the general consumers do not have direct contact with bitcoin, but through the use of established in the bitcoin protocol based on the consumer market to enjoy bitcoin technical advantages. (similar to the ordinary people to the Internet with IE, but do not understand the TCT/IP protocol)

       Bitcoin for recipient gap

      Many bitcoin startups are selling bitcoin innovation factors, but in the past year there have been a lot of negative events, which makes consumers bitcoin have a bad impression, but the government is very nervous.

Finally, perhaps the best way is not to inform people in case the bitcoin benefits to their hands.

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