Visual prosthetics is an expanding subfield of functional electrical stimulation which has gained increased interest recently in light of new advances in treatments and technology. These treatments and technology represent a major improvement over prior art, but are still subject to a host of limitations which are dependent on the manner in which one approaches the topic of visual prosthetics. These limitations pose new research challenges whose solutions are directly applicable to the well-being of blind individuals everywhere. In this review, we will outline and critically compare major current approaches to visual prosthetics, and in particular retinal prosthetics. Then, we will engage in an in-depth discussion of the limitations imposed by current technology, physics, and the underlying biology of the retina to highlight several of the challenges currently facing researchers.