Topic: The good and bad of bitcoin (Read 399 times)

Anyways you're right. Bitcoins has some pro's and con's but so far as we're in crypto and have been following up for sometime we sure know that the good aspects are many just that haters are trying to paint it black. Well, we're still growing and very soon everyone will join along.

In terms of usages of bitcoin I don't see any bad of it, I also cannot say that because of volatility the market value of bitcoin was goes up and down. It is normal things happened in the market either. Just all I know that because of Bitcoin I can now freely do save money for the future of my family through altcoins.

Good side of Bitcoin:

I earned much dollars by completing bounties as well by trading. Well the best part that purchased few things that i only dreamed of once as well as helped me to purchase some cheap stuffs online from the marketplace while hiding my real identity.  Learned a lot from this forum regarding the next generation most competing technology.

Bad Side:

Due to market volatile nature and price bouncing, i am now totally addicted to Crypto mainly BTC as i am only holding it. I wake up every morning checking out the price as well as the price is what i check the last thing before going off to sleep.

Whether one should invest in bitcoin or not depends on whether you think Bitcoin will become a long-term trusted store of value. ... So if you think BTC has a 10% chance of becoming a long-term trusted store of value, it is a good investment with a nice expected return.

I personally think what Bitcoin offer is an entirely new financial system.
 
It is possible that we are seeing the rise of a new reserve currency right now.

Bitcoin is slowly changing the financial aspects of our daily lives. From purchasing goods to sending money. For sure this would lead to cashless society. And im very skeptical about that. We  just need a little more push for this idea to be used by every living person on the planet.

the great thing about bitcoin in my opinion is the rapid growth of investment value. as a digital currency that functions as an online payment, bitcoin also has a pretty good investment side along with its rapid growth. but the thing to do is, some cases are hacked, but not everyone experiences this if they are careful. and also the fluctuating value of bitcoin is also quite terrible, because it can bring people into bankruptcy.

Bitcoin is really good to those who have a big patience to wait they can maybe gain on it. And I believe that it is  bad to those who don't have patience they can maybe loss on it. There is no bad thing about bitcoin but if we don't have patience we can really think thaat it is bad because we can lose on it due to its unstable price.

Personally,  I think both of the good and the bad of bitcoin lies at the same point, its volatility. Bitcoin is so volatile and that makes it change its price frequently and sometimes the difference is very noticeable. Sometimes it can be great and sometimes it can be very bad depending on the situation.

Bitcoin/crypto-currency is one of the invention for financial development. But, unfortunately every good side has its own bad side. The same case goes for bitcoin. Bitcoin is totally decentralized. No one controls it. You are the sole owner of your coins. You can send it anywhere you like within seconds. But again all these good features has it own evil use. People can steal your coins and then it becomes almost impossible to retrieve it back. They can launder money easily and commit crimes within seconds. But, in the end, the good sides weigh more than the bad sides.

I personally love bitcoin. Because bitcoin is one of the medium of income. You can earn money from bitcoin Which is your benefit for me. Newton says that there is a contrary opposite to any work or thing.Bitcoin and so on it takes longer. Which is not good for many.

Bitcoin most important goodness is its money transaction facility. Which is better then that of any bank's money transaction facility. Bitcoin provide their users an uninterrupted and untraceable, fast secure and safe money transaction facility and also help in international transfer with out any trouble or interrupt of third party. And the bad news is its less availability and high irregularities in its production and distribution in demanded area. And this also responsible for its volatility. Another bad thing about it is its complex nature which is quite difficult to understand for a normal person.

Bitcoin is a good thing. This is a great investment, it is an opportunity to transfer any amount of money anywhere in the world. If we talk about the shortcomings, the problem with bitcoin is that it is very volatile. But on the other hand, it is also a virtue, because because of this volatility bitcoin holders can increase their money.

the great thing is that this is transparent and all transactions can be known to everyone so this is good because there will be no more fraud but the worst is because it deals with internet networks so everything is still very vulnerable to being stolen because hackers are great from ordinary thieves they are invisible and horrible

Besides that is that people are enjoying the anonymity here in cryptocurrency that is why a lot of people are using it s well as bitcoin is becoming great advantage for those people who wants to invest and they are becoming investors and traders with less hassle as it is paperless and online transaction.

Bitcoin is the combination of both good and bad thing. First we talk about good things about bitcoin. Bitcoin good  things are its transactions facility, which is more secure, safe then that of normal bank transactions. And also charge low transaction cost then that of normal bank transactions. And bitcoin International transaction are also less untraceable and uninterrupted. Bitcoin also use for many online shopping etc. The bad news about bitcoin is its volatile nature which is creat lot of problems for many investors. And its untraceable and uninterrupted money transaction facility promote many criminal activities.

The strength of bitcoin is its huge profit if you invest in the right time. Not only that, it is safe and secure. But the price of bitcoin is not fixed, no one knows what it will be tomorrow. But do not worry too much, bitcoin is the future currency, it will rise again.

Most of the people know this, hacking is the black mole in the bitcoin from long .But now it's reduced I think , because people got knowledge about hacking.Many had started to safe their wallet with some security setup. You can try two factor authentication ,I had a try with that.It's still safe.The good one in bitcoin is the price fluctuations,it allow us to get some huge profits.

Everything has good and bad sides. Bitcoin always has two teams to the truth so if you want to look for short-term profits. Make sure you find the significant risk for your investment. So accept the reality of Bitcoin.

Well this is the hardest part from what the positivity of bitcoin when you send this wrongly theres no claiming back.not like in fiat(banking)that you can reverse the transaction and may win over the amount again


What transaction are you referring to?Maybe its a local exchangers?That need a long hours of transacting?This is because of the third party involvement,the problem is you provider and its not a bitcoin of blockchain transaction itself..and what about that example if you are in supermarket?Does this mean that in your country bitcoin is accepted as payment for goods?

the good aspect of bitcoin does get results from investment. but getting results also depends on us who can run it. even if this is good, but we cannot run an investment, it's the same as bad.

The good aspect of bitcoin is ,lot of people have gained money in their long term investment, And the bad aspect of it is its takes longer time than excepted.

The good side is that when we are introduced to digital currency technology where we are given some convenience in terms of the economy, for example with Bitcoin makes it easier for us to transfer money, while the bad side is when this technology is misused by parties who do not responsible, because of its anonymous nature Bitcoin may be used for crime.

no doubt is slowness, you have no idea how stressful stay more than 30 minutes waiting for a confirmation. Another day I sent bitcoin to someone and I stayed more than 30 minutes waiting for a confirmation at least. can not sleep until I had a confirmation, imagine if I was a super market in my country for example, I would already be in trouble. bitcoin needs to be faster, sometimes the person needs money urgently and this slowness does not help. the big thing is the profits.

yes, bitcoin has benefited many people, someone who wants to invest by buying bitcoin at the current price for them to hold for a long time, of course that person will get a huge profit, because bitcoin will someday according to my analysis raise the price even higher than the highest price level, someone investing in bitcoin will not suffer losses or losses, for example they will not make mistakes.

The good of bitcoin is just helping other people to be rich and successful in a very young age. The bad of bitcoin is the chance that you will be bankcrupt if the price of it drops.

Cryptocurrency is like a weapon. It remains good while it's used for defense purposes but can become bad once it got into someone's bad hands. The weapon can't be bad or good for itself. It all depends on the one who uses it and what is it used for.

Like you, my greatest attraction to Bitcoin is having improved access to my money.  To be able to send money to any country of the world for a fraction of the cost is surreal. I love that. This is the way money should be. Now maybe I'm jumping the gun or asking for the moon, but there's one thing I do not understand. If Bitcoin is all recorded and the blockchain is impossible to forge or alter, how come it's possible to hack Bitcoins? See if my SIM card for the phone is stolen, I can have the card blocked and get a new one. Same with my debit card. But how come I can't do that with crypto? Surely the blockchain should be able to block the stolen money and keep it secure? I just don't get that part.

The Bitcoin can give me good profit anytime,most likely investment, trading also give us good ways to income money increase for the bitcoin.i never bad time with the Bitcoin because I have to panic time and knowledge about market situation.so the market will consider and come back soon is possible.

The security of Bitcoin is exceptional and amasing. Those who promote the theory of hacking in cryptocurrencies are grossly mistaken. The reality is the cryptographic algorithms makes it near impossible to hack into the network. Its transparency enables you to make transactions anytime without any interference...as with the case with the conventional fiat currency system. Bitcoin, like other cryptocurrencies, offer the world split second transfers, fraud and identity theft protection, elimination of sky high transaction fees and much more. As a business man, I can do business even in areas notorious for fraud and crime because Bitcoin public ledger, aka block chain, protects me from being cheated. And of course Bitcoin protocol cannot be manipulated - not even by the government - because Bitcoin is cryptographically secure. To be frank, Bitcoin has disrupted the global financial order in more ways than Satoshi Nakamoto ever envisaged when he created it.

Nevertheless, there are some disadvantages. For instance, too many people are still in the dark concerning Bitcoin and cryptocurrencies.  It lies in our hands, then, to educate the world about this 'miracle' so everyone can key into this breakthrough. Similarly, more businesses need to accept Bitcoin as a legal tender. There is also the volatility concern, but I think that as more trading centers and businesses accept Bitcoin, the price will eventually stabalise.

If you ask me, I think that the advantages of Bitcoin far outweigh the above concerns - or any other concern for that matter. The truth is Bitcoin is still evolving, and if in its infant stage, Bitcoin has achieved great feats, how much more will it achieve when its full potential is realised?

You and I have a role to play. So, let's spread the word. Bitcoin has come to stay! No one can stop it...and as they say 'if you cannot beat them, join them.' Let us all preach the gospel of Bitcoin!

bitcoin can help in any way and can give us a lot of income even though we know that together the price of bitcoin is very unstable sometimes it rises but also drops and has many risks so we have to be smart in using bitcoin both investing in trading and mining so we need patience in using the world crypto.

Bitcoin always gives me profit because my money that I invest before I alreadt withdraw it and the bitcoin I’m trading with is from the profit I got in a signature campaign, so for me Bitcoin is really good. The price are still high compare to the time I enter in this market. So far I don’t experience major problem with bitcoin.

GOOD: The financial freedom it represents to hard working, rational people.

BAD: The threat to financial security it causes people who delude themselves into taking stupid risks.

For me in my own opion from the good and bad of bitcoin is not an issue at all. For the good things as I experience from bitcoin is the salary that I received since from the day I started to join in bitcoin..is...im happy and gladly appreciate those things, And the bad issue from bitcoin is the always changing prices goes down and it's hurt me because I never had to convert my tokens from the good value.

Bitcoin benefit is sure being anonymous transfer.. easy to use and to buy and sell with peoples around the globe. The bad thing is for me is the high ridiculous fees for a low transaction sure are killing me. yeah bitcoin also has no insurance if our money lost or being hack. so used bitcoin with carefully and always not get phishers.

In my opinion the profit of we have a bitcoin is we can invest for the future and we can make more money. Buy the bad is when the price is up and we panic and sell. We lose our money and we loss too. So don't be panic if the price of the market is falling down

Transaction and high fees isn't a big problem anymore since the lighting network has been launched and blocks had been halve last year and the next halving will occur ETA May 21, 2020 so this shouldn't bother us.


Oh this, I feel you.
Sometimes I'm paranoid in sending bitcoin to other address as I'm worried that I might wrongly send my bitcoin and so I'm checking it like more than 10 times. It's annoying. 

If you truly are thankful about the good effects of bitcoin in your life I think you need to be thankful even if there are negative things regarding this technology, Even if it had many issues with scalability there is a good reason and purpose behind this, We should be thankful for every technology that had good quality and services for us it is still not perfect and will have its downs too, We should still consider this as a good thing.

There is the lightning network coming, which will allow for instant, almost free payments. It actually does now already, but i wouldn't call it ready for prime time, it's still risky, but it's improving nonstop.

I would start using it for small payments to start understanding how it works and learning the wallets, they are simple and it's a good way to test things out, but don't risk big money on it.

As far as on-chain scaling, it's just not going to happen, so if you dont like that, you will have to pay the fee or use an altcoin.

Bitcoin's goodness is able to send Money wherever we want in just a few minutes without involving a third party or bank, the badness of Bitcoin is that it is vulnerable to hacking, because if it's loss it is beyond the responsibility of Bitcoin.

I think the worst thing about bitcoin is its absolute anonymity. No, anonymity is good, but also the other side-it is used by terrorists and swindlers.

For me there's a good and bad of bitcoin . First the good of bitcoin can bring you lots of benefits like potential of massive return , beneficial , fast transaction and full secured account to avoid hackers but the bad of bitcoin is loosing your income to generate it but nothing return and sometimes it technical difficulties that sometimes delayed expectations .

Bitcoin gives a lot of opportunities to people who are less fortunate. At the same time it makes a difference in the improvements of the fast growing technologies. Although there are also several bad sides of bitcoin. To note: its volatility, it’s unstable market value and unpredictable swings. These all good and bad sides of bitcoin makes it more interesting and unique.

My main advantage is that when I want to do a transaction like sending money out of the country, I don't need a third party to do it, because I can do it myself. Bitcoin's weakness for me is to have a high level of risk, be it investing and fraud.

bitcoin is almost amazing to me.  In addition to bringing in the technology blockchain change the world. bitcoin also help me a lot in earning extra income help the family, help me get friends from different places in the world as well as knowledge about blockchain.

The recent cheap fees in bitcoin transaction is one of my good. Again, the easy conversation to fiat is another. It is the easiest to sell among the cryptocurrency, you can easily see a country man willing to give you some cash for your bitcoin.

My bad is that, any mistake made in transfer of coin, is as good as gone. That is why it takes me time to finally press the send button 

people, well, what about the bitcoin course? as it gradually falls, suddenly the nerves of the "millionaires" holders will not stand up and psihanet somebody, I'll suck us up for the whole screen))) I think for 0.5k bucks below the orders for the whole cutlet, although not, I'm afraid: biggrin:

Bitcoin has produced a lot of world financial progress and the most mysterious search for bitcoin founder, ya. He/She is Satoshi Nakamoto.
2 great things that I experienced. when digital currency designers that caused a lot of controversy, it is still unknown until now. but the concept that has been built and running, can cause a lot of busyness in all countries.

a good part of Bitcoin is as a protector of inflation
Like gold, bitcoin is considered to act as a protection value from inflation. Bitcoin can reduce excessive inflation.
while the bad part of Bitcoin is the money laundering
The use of bitcoin currencies is not controlled by the government or authorized financial institutions. As a result these conditions open up huge opportunities for criminal acts such as money laundering and tax evasion. Lack of government control also makes bitcoin seem worthless. In addition, some financial observers consider bitcoin to be an illegal currency because legal legislation is not encouraged.

This has been the problem of bitcoin ever since it became famous and lot of investors specially new whales got into it. The transactions became slower with high fees. But since bitcoin is the king and founder of all crypto, all of us just got used to it.

To my own opinion about the good and bad of bitcoin is the some thing it really get me frustrated when i see the price of bitcoin compare to last year it very bad, secondly other issue am facing as far as bitcoin is concern is the transaction speed just to slow it make shopping online with bitcoin more complicated to me.

The good and bad of bitcoin is the volatility of the market,you can buy it today and tomorrow the price is below what you just bought but all the same there is no need to panic about this definitely the price will come up again but is just a matter of time and patient.

In my opinion to the greatness or goodness of Bitcoin is being able to send Money to various countries in just a few minutes without any bank institutions regulating it. and shipping costs are very cheap. and also bitcoin comes with very good technology called Blockchain. a lot of benefits from this Blockchain.
then in my opinion, the bad of Bitcoin is that it is prone to hacking, and also does not have clear rules about who regulates the use of Bitcoin. so when an investor wants to buy Bitcoin with paper money, it must know the risk that will occur if one day the bitcoin disappears. because no one will replace it.

My issue with bitcoin is the scalability. Some days it takes ages to confirm transaction on bitcoin blockchain which is not too good as  at times breeds trouble between two parties who had a delayed confirmation. It is unacceptable that bitcoin blockchain confirms only 7 transactions per sec. The developers
 should do something about this issues or bitcoin very soon lose relevance among crypto circle.

Everybody has a remark about bitcoin whether it's great or terrible, and for me for the most part is great you can send cash whenever you need without the agent (banks)

also, low expenses or free and last is the speculation, the main terrible thing about that I can state is the point at which somebody hacked your record and you can never again get it back.

however, it will assist you with being more dependable about your record.

What is the great and the awful thing you can say in regards to bitcoin??