Topic: the advantage and disadvantage of Bitcoin? - page 3. (Read 2457 times)
Advantage is that I can convert it to fiat whenever I want and there are no bank holidays in bitcoin transactions, only bad thing is that I cannot spend it physically anywhere.
the advantage and disadvantage of Bitcoin 
Adv : free to use without autorisation.
Dis : need learn tech.
But, it's a real alternative to the banks ... specialy on this year of monkey central bank no brained persons.
I love it as a currency and as a payment method and the best thing is its allowing me to earn some extra money from it which can be useful at the time of emergency.
i can say the disadvantage,sometimes bottleneck happening,too much-unconfirmed transaction when the blocksize only limited for 1mb,and it'll affect on your transaction,need to wait longer than usual and sometimes it'd took time about 1 hour or more,it's sure a problem i guess,i'm sure you don't want to wait about ~1hour when your client is waiting for the transaction
This is caused by spammers who try to create too many dust transactions and we have many times faced this in the past. Also, when one transaction doesn't get confirmed due to the inputs being unconfirmed, it can take upto 5 hours or more and hence the wait gets long. This is a major disadvantage of bitcoins but it is caused by those who don't want this currency to succeed.one can't get his limited wallets where as no need to use real information unless you choose to use a service.
one can create any number of accounts he wishes securely.
i can say the disadvantage,sometimes bottleneck happening,too much-unconfirmed transaction when the blocksize only limited for 1mb,and it'll affect on your transaction,need to wait longer than usual and sometimes it'd took time about 1 hour or more,it's sure a problem i guess,i'm sure you don't want to wait about ~1hour when your client is waiting for the transaction
This is caused by spammers who try to create too many dust transactions and we have many times faced this in the past. Also, when one transaction doesn't get confirmed due to the inputs being unconfirmed, it can take upto 5 hours or more and hence the wait gets long. This is a major disadvantage of bitcoins but it is caused by those who don't want this currency to succeed. 
The advantages of bitcoin are that it is best payment method, it is decentralized and not controlled by Government and disadvantage it cannot be used everywhere.
I'm thinking exactly the same thing to be honest, the fact is that its nice that its self controllable but the big disadvantages that its still not accepted by a lot of stores online in in real.
I hope this will change soon or later.
Stores don't accept it due to the price fluctuations and it always needs to be converted into fiat. If there is a wallet that can store the BTC as USD directly, it would be better and useful for stores to accept it. Also, the other issue is the time the transactio takes to confirm. It delays the process of placing the order and it getting confirmed.
The advantages of bitcoin are that it is best payment method, it is decentralized and not controlled by Government and disadvantage it cannot be used everywhere.
I'm thinking exactly the same thing to be honest, the fact is that its nice that its self controllable but the big disadvantages that its still not accepted by a lot of stores online in in real.
I hope this will change soon or later.
The advantages of bitcoin are that it is best payment method, it is decentralized and not controlled by Government and disadvantage it cannot be used everywhere.
the advantage and disadvantage of Bitcoin
disadvantage: pseudo-anonymous
advantage: most known out of all cryptocoins
disadvantage is that bitcoin is still too far away from being a very decentralized project, but i guess truly decentralized project are not possible
the advantege is the fact that it still hold enough decentralization, in comparison with fiat
the advantege is the fact that it still hold enough decentralization, in comparison with fiat
Disadvantages:
Long wait til confirmation
Ever increasing power required to mine
Advantage:
First in the field meaning there are lots of adopters already.
Long wait til confirmation
Ever increasing power required to mine
Advantage:
First in the field meaning there are lots of adopters already.
the advantage and disadvantage of Bitcoin
The advantages of bitcoin is you can use it without your true identity so it can use in illegal transaction like in deepweb buying illegal drugs, illegal guns, and other illegal stuffs so for the policemen or in the government this bitcoin the disadvantage for them.
the advantage and disadvantage of Bitcoin
Ok let me tell you a few advantages of BTC.
1.Freedom of payment (With Bitcoin you're able to send and get money anywhere in the world at any given time)
2.Control and Security (bitcoins hold in your wallet are yours!No one else has any control.Just you!
Bitcoin can be backed up and encrypted to ensure the safety of your money)
3.Information is Transparent (Every transaction can be watched and checked with the public ledger).The protocol cannot be manipulated
by any person, organization, or government. This is due to Bitcoin being cryptographically secure.
Disadvantages
Scaling might be an issue for now.But we are working on it and solutions are alreasy in the pipelines.
i can say the disadvantage,sometimes bottleneck happening,too much-unconfirmed transaction when the blocksize only limited for 1mb,and it'll affect on your transaction,need to wait longer than usual and sometimes it'd took time about 1 hour or more,it's sure a problem i guess,i'm sure you don't want to wait about ~1hour when your client is waiting for the transaction
I can catch up your point dude, you are absolutely right that sometimes the transaction of bitcoin have been delaying even troubled. But i hoe that problem will fix by developers of bitcoin .
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
i can say the disadvantage,sometimes bottleneck happening,too much-unconfirmed transaction when the blocksize only limited for 1mb,and it'll affect on your transaction,need to wait longer than usual and sometimes it'd took time about 1 hour or more,it's sure a problem i guess,i'm sure you don't want to wait about ~1hour when your client is waiting for the transaction
I still think the biggest obstacle is the wallets.
When I explain bitcoin most are not happy that if their computer
dies its a confusing process to get his coins etc.
think people just are so used to banks and being their own bank
scares them
When I explain bitcoin most are not happy that if their computer
dies its a confusing process to get his coins etc.
think people just are so used to banks and being their own bank
scares them
i think the people awareness about bitcoin still need more and more time. the online security are the disadvantages on other side the online shopping accepting bitcoin as legal currency but shopping mall and the earning money in such a systematic procedure but so easy are the advantages of bitcoins. i hope the disadvantages as i mentioned can easily be overcome. because people are getting information about bitcoin. the security issues will also be solved very soon,
Some disadvantages are the very small transaction capacity and slow payments, we reached the limit some time ago and nothing has been implemented in 7 years to increase capacity.
Lack of consumer protection is also a big disadvantage, at least for mass adoption with regards to online payments.
Lack of consumer protection is also a big disadvantage, at least for mass adoption with regards to online payments.
the advantage and disadvantage of Bitcoin
Advantages :
- You can make any number of accounts you want (wallets/addresses)
- You can't get your wallet/addresses limited .
- You don't have to provide any real information's (like name etc ...) unless you decide to use a service like Coinbase of course. (your own fault).
- It's secure (Cryptography)
- You don't have to deal with Paypal shit anymore.
- It's a long-term investment .
Disadvantage :
- I don't like the fact that we need to wait few confirmations to fully trust that transaction.
the advantage and disadvantage of Bitcoin
Jump to: