Topic: Downsides to crypto - page 3. (Read 3308 times)
I think it because bitcoin is down too deep and people losing their faith in bitcoin. But I am sure that bitcoin will be going to upsides, and the crypto will rise again since the crypto is given a chance to every people to have new investment and they can also make money from the crypto. I don't think that the downsides will takes longer and I think the situations will change in the next year.
It seems that this will not happen, because bitcoin will deviate from its main purpose. Bitcoin is part of technology that is developing in digital and this will remain that way. The second impossibility is that in each country has set the value even the symbol of each currency and bitcoin itself does not have a fixed value. So, surely this will be difficult to accept in all circles. A real loss in the event of endorsement as a currency of the world would certainly be capital for crime.
As far as I can see, fraud and scam will be the major downsides to cryptocurrency in future. I see fraud reaching a proportion where it will eventually get out of hand. I am judging from the current level of crime which have gone unattended to.
I think bitcoin will never be the official currency of the world. Maybe such currency will be one of the altcoin. If so, I think there will be only benefits from this type of currency.
If and when cryptocurrency and/or bitcoin becomes the official currency of the world, do you think there will be a downside to it? If so, what do you think the negative effect will be once cryptocurrency becomes a worldwide currency?
It would be a disadvantage to the people who have no proper access to internet connection because they wouldn't be able to full benefit from the technology itself. There would be no problem with those countries wherein they can fully utilized the capacity but it would be a disadvantage for those countries who have limited access.
The network would become slow because more people are gonna use it so they need to find ways for the transaction to be fast. Other than that, it would be easier for the people to send/receive money which is a convenience.
I think most crypto has downsides whether we like it or not, bitcoin is still developing and the downsides are the people who use bitcoin for illegal activity and also the price is very volatile. However bitcoin is the top 1 cryptocurrency and i think the advantages of having bitcoin will be seen in the future.
In my opinion the downside of the crypto market is that Bitcoin dependency is too large. So when Bitcoin increases or decreases other Altcoins also follow. So Bitcoin does not have a rule that manages it and regulates it publicly about the price of it.
There will be always downside to everything, some people will always find a way to criticize digital currencies since its still not widely accepted. Example to the downside of crypto are hacking, price tends to be very volatile.
Right, from the start other people criticize the crypto and they doesnt believe the future ahead of it. That is also one of thise downside value is very volatile which users should understand the situation in crypto. There will be always downside to everything, some people will always find a way to criticize digital currencies since its still not widely accepted. Example to the downside of crypto are hacking, price tends to be very volatile.
Right, from the start other people criticize the crypto and they doesnt believe the future ahead of it. That is also one of thise downside value is very volatile which users should understand the situation in crypto.
There will be always downside to everything, some people will always find a way to criticize digital currencies since its still not widely accepted. Example to the downside of crypto are hacking, price tends to be very volatile.
the characteristics of bitcoin can be a bitcoin weakness. you must understand. governments in the world have full control to regulate their country so that it runs on good rules. including finance. it was done so that they could supervise those who committed fraud. criminal, or other bad thing. while bitcoin is a free rule. created by individuals, with personal rules, used together for individuals.
If and when cryptocurrency and/or bitcoin becomes the official currency of the world, do you think there will be a downside to it? If so, what do you think the negative effect will be once cryptocurrency becomes a worldwide currency?
Well, if we recognize the official currency, the shortcomings are unlikely to be. They just bring the technology to mind and nothing will need to be changed. The coin will work stably, there will be quick transactions. Although the technology has great prospects, and bitcoin can be improved every time, so those advantages that are now in the future may be a disadvantage in its improvement.
What I really worry about bitcoin before it becomes the world currency is that it can be badly affected by criminals, taking advantage of it for illegal activities. The use of bitcoins to evade taxes from the government is really a big deal . Drug trafficking or arms trafficking and criminals are taking advantage of bitcoin to carry out these illegal activities.
Before bitcoin was even created, there were already a huge number of criminals who have been using fiat money to execute deals in drugs trafficking or other forms of illegal deals, it is usually some group of people who are trying to find lots of unreasonable reason to bash bitcoin to make it look alike some sort of illegal currency. So I believe the government officials should be focusing their task on catching those criminals instead of trying to shift the blame to bitcoin. 
What I really worry about bitcoin before it becomes the world currency is that it can be badly affected by criminals, taking advantage of it for illegal activities. The use of bitcoins to evade taxes from the government is really a big deal . Drug trafficking or arms trafficking and criminals are taking advantage of bitcoin to carry out these illegal activities.
If crypto becomes the official unit of the nation, more people will use it, too. Too many people will use it for evil purposes such as crime, money laundering or tax evasion.
I think we should discuss the shortcomings of Btc currently and as btc/crypto enthusiasts discuss how best they can be resolved or better still how best the suggested solutions can best manage these shortcomings. I believe the adage that goes like: when we get to the river we will know how to cross it. Once worldwide adoption happens, of which I doubt, and problems arise with the system, we can then look at it.
I have been working in the cryptocurrency market for about a year. I really saw a lot of advantages and further prospects for the development of cryptography. You can emphasize only one drawback, this is that the market is very unstable and high volatility. Which in turn scares potential new investors.
I think it will be an opportunity for criminals and drug trafficking, because all transactional information is confidential so criminals can use it to exchange and trade underground. The world will lose control, the government will fail to manage and seek funding for terrorists. Wow, to tell the truth it's so bad.
Yes the downside of bitcoin is blackmarket there are so many illegal transaction everytime the user bitcoin as a payment method because bitcoin have anonymous wallet address and fast transaction compare to fiat. Deepweb has many illegal activites like buying drugs,weapons and services bitcoin is the main payment method on that. That's why bitcoin is still negative to the public because of involving that.
The time will come when bitcoin will become the most popular cryptocurrency even more than any other currency, we only have to search as much bitcoin as we can. And we will enjoy the results later.
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