What are some disadvantages of BTC? - page 13.

8Habits

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Quote from: BobbyZounours on January 03, 2018, 12:04:29 PM

Bitcoin has not been fully used as a transaction tool, it still needs refinement. Especially if living in a country that has not legalized bitcoin, tastes like vegetables without salt, high value but can not be used in my own country except with online purchases.

I agree with you mate but I am still hopeful that in the near future, bitcoins and other alt coins will be the future money to use in everyday transactions with all of the current disadvantages addressed already.

bosimpson54

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Quote from: AwpDragonPoor on October 01, 2017, 10:37:22 PM

We all know the advantages of BTC, but what are some of the disadvantages??

Some disadvantages of Bitcoin are that their price is not always increasing, but at times it drops to the point of causing fear to others. Bitcoin is also a common disadvantage: hackers, Bitcoin always have these weaknesses and disadvantages

BobbyZounours

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Bitcoin has not been fully used as a transaction tool, it still needs refinement. Especially if living in a country that has not legalized bitcoin, tastes like vegetables without salt, high value but can not be used in my own country except with online purchases.

didik12

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I think the disadvantage of btc is not accepted in other market or restaurant. When you have a btc in your wallet and the virus destroy your wallet in the system the btc will become useless. And other disadvantage when the btc prize is going lower other users become distrust.

nanasei

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Network fees is one of the main disadvantages of BTC. The risk of send an amount to a wrong address, which means your money is lost, is also a disadvantage I feared most when using BTC

doyayipaku

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bitcoin is limited and the bitcoin's transaction speed is slow. Currently the electronic money market has not been accepted and the capital of bitcoin is quite large if all the bubble burst will disappear.

Ailmand

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Quote from: jorneyflair on October 01, 2017, 10:40:07 PM

Quote from: AwpDragonPoor on October 01, 2017, 10:37:22 PM

We all know the advantages of BTC, but what are some of the disadvantages??

Well one that i can think of is that it is still not perfectly anonymous. Personally i'd like to see bitcoin evolve into the future into something like XMR with essentially in built coin mixing. This is probably not necessary but rather an add on.

Another thing is that, fees are often high.

Also, blocks are 10 minutes on average in between so that means you're probably not going to be able to get stuff irl instantaneously without the merchant having to trust you.

One of its double-edged sword feature is its volatility, as far as it can be positive because it favors small-time holders to gain good profit because the price of bitcoins may increase at any time; however, it can also be a disadvantage because if it can cause an increase, it can surely cause a decrease as well. This is negative especially for those who hold on to their coins for the purpose of waiting for the value to come up, only to see that it will plunge and their prayer of a profit is gone with the wind. Another downside is the privacy and secrecy of it transactions, as much as it is helpful to keep-safe one's holdings, it can also be used illegally.

ritsel02

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The disadvantages that I know on bitcoin based on my experience is a slow transaction in terms of transferring funds to other wallet especially when you chose the lower fee.Which only means that we need to pay high for a faster transactions.Another disadvantage is some people taking advantage of its anonymity using it on illegal transactions. But to be able to succeed disadvantages are just challenges for us,take the risk and aim high with bitcoin.

Dapper

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The big one for me is that btc exchanges are a weakness. You hear about them getting hacked more than real world banks. Not sure why they can't be more bullet proof. The other weakness is of course just like what we saw in Australia this past week... banks can suddenly sever the link between your bank account and your btc exchange account. These issues leave you in the limbo of not wanting to keep too much funds in your exchange account...... BUT if you don't, then you cannot truly be an active trader (if you have to move your funds to your exchange account every time you want to do trades). I made quite a bit this year riding the waves, but would have made more if I felt more confident of letting more of my capital spend the night or even medium term in my btc exchange accounts (as opposed to air gapped and off the network entirely).

mxyzptlkof6th

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Quote from: AwpDragonPoor on October 01, 2017, 10:37:22 PM

We all know the advantages of BTC, but what are some of the disadvantages??

First is that its price is very unpredicable and if you are too greedy, you might lose assets. Second is that it is sometimes cosidered as illegal. Lastly, it is considered in some governments a threatto the economy.

enwi

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Quote from: AwpDragonPoor on October 01, 2017, 10:37:22 PM

We all know the advantages of BTC, but what are some of the disadvantages??

which I know the disadvantage of bitcoin is a fluctuating price and can not be used as official payments, long-term transaction confirmations and also have a greater fee

amzadabir

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We know it costs high and low transactions. There are occasional difficulties in trading.

DiscretePatriot

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Quote from: ledinasaliasi on January 03, 2018, 07:01:39 AM

the most popular disadvantage of bitcoin is small blocks that makes transactions slow and delay, but that is not all, exchanges charge us fee on bitcoin transactions so high that small investors can not afford it.

I absolutely couldn't agree more. Hopefully, we will see Bitcoin overcome this pretty obvious obstacle in making it greater. Still believe that we'll be back on track soon.

ledinasaliasi

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the most popular disadvantage of bitcoin is small blocks that makes transactions slow and delay, but that is not all, exchanges charge us fee on bitcoin transactions so high that small investors can not afford it.

shouter

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Quote from: AwpDragonPoor on October 01, 2017, 10:37:22 PM

We all know the advantages of BTC, but what are some of the disadvantages??

Some time ago (some months), I would not know tell what disadvantages Bitcoins has. But today I know a disadvantage, very unpleasant, by the way, high fees in the transactions. Unless of this disadvantage, i can not see there is no other.

weblouartisan

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Quote from: jorneyflair on October 01, 2017, 10:40:07 PM

Quote from: AwpDragonPoor on October 01, 2017, 10:37:22 PM

We all know the advantages of BTC, but what are some of the disadvantages??

Well one that i can think of is that it is still not perfectly anonymous. Personally i'd like to see bitcoin evolve into the future into something like XMR with essentially in built coin mixing. This is probably not necessary but rather an add on.

Another thing is that, fees are often high.

Also, blocks are 10 minutes on average in between so that means you're probably not going to be able to get stuff irl instantaneously without the merchant having to trust you.

The best advantage of bitcoins is the value that is keep on increasing as the time goes by, Another thing is that market is volatile that's why bitcoins is good for a long term investment but even there are good things like this, Bitcoins can still be used by terrorist for drug laundering or having illegal transactions that's why other governments are banning btc in their country.

The Monkey King

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Quote from: AwpDragonPoor on October 01, 2017, 10:37:22 PM

We all know the advantages of BTC, but what are some of the disadvantages??

the disadvantage of btc on me and on my friends are sometimes we only sleep for an hour before going to school because we want to finish our target post a day and we don't have just one account some of us have 3 or 4 accounts and sometimes we forgot to eat because we have a lot of things to do.

avi007

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If you lose the wallet which had bitcoins stored in it, you have lost all of your bitcoins in that wallet. You cannot regain it and they are simply lost forever.

In case credit card/debit card stolen, we can call the merchant to cancel the card and request for a new one but in case of Bitcoins, as it is decentralized and no one has control over it , we don’t have any person to call.

Also

Bitcoin prices are very volatile and increases/decreases at a very high pace. Speculators wish to take advantage of it but genuine investors thinks of it as too risky and therefore all the investors does not invest in Bitcoins.

JohnnyBrown

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"Highest ROI crypto infrastructure"

Because it is a currency , we doesnt have a power to hold this , what Im trying to say is that there re a lot of scammers out there who can hack your account and get all your btc with just few clicks, we as a user need to to be sure on the site wherewe invested our btc

Bitcoinislifer09

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Quote from: AwpDragonPoor on October 01, 2017, 10:37:22 PM

We all know the advantages of BTC, but what are some of the disadvantages??

Despite of the advantages in bitcoin,we all know that there are somke disadvantages.I think the disadvantages of bitcoin,it is very open for everyone so that there are some users that they used the opportunity to make an illegal things.And also it is volatile but we cannot be remove this because nowadays being a volatile it's just a normal.

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