Topic: BITCOIN DISADVANTAGES (Read 631 times)
do you use bitcoin during this time as payment? jaki like this, the concept of early bitcoin is as currency payments online, with the passage of time many people choose bitcoin as an investment, because there is more profitable for you.
The fees of Bitcoin is the major disadvantage of Bitcoin. People prefer to give less fees and hence they are maid to wait a lot for their transactions to confirm. Also the prices of Bitcoin is not fixed. It fluctuates alot which makes it a bad currency.
- Very high shipping costs
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
Disadvantages of bitcoin is a lack of securities to all account and wallet in your hardware, if we do some investment and trading here we need always be use 2 options, it needs to make the way of saving in Bank Deposit and at the same time earning a lot of income because of Virtual currency of Bitcoin in every seconds, it is possible all our effort is being nothing if we did not be careful about this... my advice here is don't trust the anonymous person with suddenly pop up of your device, make some investigate first before you do it... thanks
I don't agree with what you say but as I can see in the bitcoins transaction it has a lower fee than in any bank, you just said it that it increases transaction fee because bitcoin also increased in its value and the transaction waiting time is not that long to wait and I think its fine. Don't judge it if you encounter it only in the first time.
Requires internet and electricity.
Requires responsibility. You'll be the sole responsible for your money and your investment, no 3rd party to complain or blame. Not everyone is prepared for this(not their fault mostly because the media and the educational system are machines to make people dependent and immature).
Transactions are stored forever in the blockchain. Probably will compromise privacy.
The cost of transactions. Bitcoin is not for all pockets, by design. This is not a bad thing because an experimental project shouldn't try to make everything perfect in the first try.
Requires responsibility. You'll be the sole responsible for your money and your investment, no 3rd party to complain or blame. Not everyone is prepared for this(not their fault mostly because the media and the educational system are machines to make people dependent and immature).
Transactions are stored forever in the blockchain. Probably will compromise privacy.
The cost of transactions. Bitcoin is not for all pockets, by design. This is not a bad thing because an experimental project shouldn't try to make everything perfect in the first try.
- Very high shipping costs
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
What do you mean by very high shipping costs and very long delivery time? Did you order a product online and you paid it with your Bitcoin? If you did, it is not Bitcoin's fault! The site where you ordered your products is the one who is charging you those shipping costs and its their courier that's very slow. You should never blame Bitcoin because of it.
- Very high shipping costs
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
Yeah it is true that bitcoin has high transaction fees which bitcoin users dont want. There are many users of bitcoin so i think that's the reason why the transaction time is very long because the blockchain process many transactions. But i think the transaction fees are normal since the bitcoin value is high.
- Very long delivery time.
To others this maybe a big issue on bitcoins but for me compare to other payment options existing today Im willing to wait 30 minutes to an hour delivery time using btc because of its secured transaction and cannot be intrude by someone the only disadvantages of btc for me is its irreversible feature once you mistakenly input an incorrect address you cannot cancel it anymore. That's right. We should have more patience in waiting. We are in the age now where almost everything is instant that's why waiting for a little more is sometimes too long for us but the reality is that technology now is more better than before like decades ago when it would take days to send money to someone faraway so we should just be thankful of the technology today. Wire transfer fees still took too long to be confirmed like days but in bitcoin it would just be hours or minutes.
The problem with bitcoin is that it is irreversible that's why we should double check or triple check the address first before sending because it would cost a lot just for a single mistake so we should be very careful with it. As for high transaction fee, maybe it can be solved later on because if this will continue then sooner or later, people will have to shift to others that have lower transaction fee.
- Very high shipping costs
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
shipping always reminds post office and address problems ... that's why Gavin 10 minutes at TCP ...
10 minutes ...
https://youtu.be/QP4A6L7CEqA?t=4m50s
Idiots.
yep all those guys at 3e are idiots
- Very high shipping costs
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
shipping always reminds post office and address problems ... that's why Gavin 10 minutes at TCP ...
10 minutes ...
https://youtu.be/QP4A6L7CEqA?t=4m50s
Idiots.
- Very high shipping costs
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
shipping always reminds post office and address problems ... that's why Gavin 10 minutes at TCP ...
10 minutes ...
https://youtu.be/QP4A6L7CEqA?t=4m50s
- Very long delivery time.
To others this maybe a big issue on bitcoins but for me compare to other payment options existing today Im willing to wait 30 minutes to an hour delivery time using btc because of its secured transaction and cannot be intrude by someone the only disadvantages of btc for me is its irreversible feature once you mistakenly input an incorrect address you cannot cancel it anymore. - Very high shipping costs
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
I thought It will not happen in near decade for bitcoin to become the world currency. There still alot of lack of its feature and just like you said, high fee and long delivery are become some of its lack. In the other hand, other altcoin are doing well for its problem. It might become a huge wall for bitcoin to reach maximum popularity in this world.
The uncertain and rather long anyway block time.
10 minutes standing and waiting for the payment to go through for some shopping is ridiculous. This is the single reason I don't think Bitcoin will ever catch on as a very large currency. Not a really a solution to it either unless so many people mined it, it would be okay to adjust bitcoin difficulty to mine every minute or so.
For sure the confirmation time + volatility, mix the 2 together and on a bad day, your transactions are not what you expect. Also, I think people do care about the transaction cost if it's an everyday currency, not so much if it's an investment. 10 minutes standing and waiting for the payment to go through for some shopping is ridiculous. This is the single reason I don't think Bitcoin will ever catch on as a very large currency. Not a really a solution to it either unless so many people mined it, it would be okay to adjust bitcoin difficulty to mine every minute or so.
- Very high shipping costs
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
Shipping and delivery time in bitcoin is not related because if you will see that the fees in bitcoin is normal to get higher because of the demand of the people in bitcoin and because of the growing users, it will make more traffics or transactions in the blockchain so it needs a lot of work and that will motivate the miners to work harder because of the high fees and delivery time almost take at least 20 minutes based on my experience and that is not bad for me as a bitcoin user rather than other way of transferring that taking a lot of days before you get your money. - Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
- Very high shipping costs
- Very long delivery time.
- Very long delivery time.
Truth be told bitcoin fees are lower than wire transfer fees. Walmart is known for having lower wire transfer fees than other places and yet their fees are extremely high in comparison to bitcoin.
Bitcoin has an advantage in delivery time(transfer time), too. Wire transfers take two business days, much longer than the average bitcoin transaction.
For bitcoin versus credit card comparisons, some type of btc to card conversion service might be the way to go, if it can be done affordably.
Here is another chart containing wire transfer fees for banks and credit unions (compare to bitcoin/crypto transfer fees).
good post. this is what I talk about when I introduce bitcoin to people I know
People doesnt care about the Bitcoin transaction fee , they care about the huge profit it could give. Yes the huge disadvantage is the large transaction fee and the burden of cashing it to normal fiat.
That is right, bitcoin users almost ignored transactions fees for a reason it won't hurt them much. One reason that may affect this is security reason, most people think that in bank it is more secured than bitcoin. No it's not, taking money outside the bank every time is a life risk, bitcoin transaction are wireless you can go in many options or send anything from home. Transactions fees are not the disadvantages of bitcoin it only deserve what we payed for.
People doesnt care about the Bitcoin transaction fee , they care about the huge profit it could give. Yes the huge disadvantage is the large transaction fee and the burden of cashing it to normal fiat.
- Very high shipping costs
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
- Very long delivery time.
I think if this can not be overcome, it will be difficult to make bitcoin as the world currency.
Both of these issues remain my mind whether anyone can cope or never will
Lol, it is way cheaper than a parcel from one city to another city, besides if you paid the right transaction fee, it is faster than delivering a goods from one sector to another sector. We just need to know the right fee. But if you failed to know this you will always be imprisoned with that thought. Oh btw, that is why segwit2x needs to be activated soon
this is really the big problem in bitcoin community the transfer rate ! theres really a high price to pay but the solution here will be answer sooner or later and i hope a new ICO to be launch will be base on this and will give solution on every bitcoiner!
sample:COINS.PH wallet
CASH IN : almost a dollar for any amount
CASH OUT: 0.014% for minimum of 200 USD and fixed $2.8 for 200 USD below
MONEY TRANFER or BTC to BTC = $10 almost
CONVERTION : almost 160 usd difference on buy in and sell out of bitcoin
sample:COINS.PH wallet
CASH IN : almost a dollar for any amount
CASH OUT: 0.014% for minimum of 200 USD and fixed $2.8 for 200 USD below
MONEY TRANFER or BTC to BTC = $10 almost
CONVERTION : almost 160 usd difference on buy in and sell out of bitcoin
This is a third party processor sure you have to pay more for fee, this is why bitcoin needed to be adopted by every individual.
The uncertain and rather long anyway block time.
10 minutes standing and waiting for the payment to go through for some shopping is ridiculous. This is the single reason I don't think Bitcoin will ever catch on as a very large currency. Not a really a solution to it either unless so many people mined it, it would be okay to adjust bitcoin difficulty to mine every minute or so.
10 minutes standing and waiting for the payment to go through for some shopping is ridiculous. This is the single reason I don't think Bitcoin will ever catch on as a very large currency. Not a really a solution to it either unless so many people mined it, it would be okay to adjust bitcoin difficulty to mine every minute or so.
Jump to: