Topic: What are some disadvantages of BTC? - page 40. (Read 7950 times)
Well the biggest disadvantage of Bitcoin is that it can die anytime and people who might have invested thousands of dollars can't even do anything about it . But looking at its growth it might it is not possible for Bitcoin to just fall down to zero. So for like w years or so we are safe and need to worry about this. Rest all disadvantages are very small competitively like fees and confirmation time and stuff
We all know the advantages of BTC, but what are some of the disadvantages??
Disadvantages may varies per users. If you are talking about general disadvantages then you can check out some articles around like this: https://coinreport.net/coin-101/advantages-and-disadvantages-of-bitcoin/
There are disadvantages that varies per user depends on availability, accessibility and usages. Like example for normal payment, bitcoin needs internet to fully do 100% transaction. It can't work without internet. Another thing is usages of it like normal currencies since no doubt even at this stage, there are only few merchants on a whole that accepts bitcoin as payment method etc.
But always remember that some of the disadvantages isn't lasts forever as development always follows.
We all know the advantages of BTC, but what are some of the disadvantages??
The advantages of bitcoin are also its disadvantages depending on the current situation of the market. Here are some of disadvantages of using bitcoin today:
1. The volatility of bitcoin is a double-edged sword, very unpredictable in its price and might result to a profit/loss on an individual;
2. Its limited supply of 21 million in the market;
3. Some counties ban the usage of bitcoin, resulting to a decrease on potential investors;
4. There are many external factors that can affect its price like the banning of ICOs in China; and
5. Its decentralized nature makes it as a perfect medium under the dark web for illegal transactions.
Those are some of my opinions regarding its disadvantages but the advantages of using bitcoin in the community supersede all of those what I stated. There may be some drawbacks from transacting bitcoin but let us not forget its endless opportunities in the community.
In my opinion. The disadvatage of bitcoins is its free use of restaurants and other necessities that money is to be paid. Because the bitcoins you say you'll pay are likely to get you mad. Because people do not really know bitcoins yet. Just like what happened to me but it was my intention that the cashier knows the bitcoins.
Why would the cashier know what bitcoin is? Them enough that they will check the amount credited to the account. But I think that the restaurants will use bitcoin once it will make online stores. It is easier to control the price of bitcoin and the owners of the Internet in the subject. They understand what bitcoin is and where it can be applied. We all know the advantages of BTC, but what are some of the disadvantages??
I dont see from the weak side. because I'm not sure of the weak side, for me bitcoin is more useful and has properties, not weaknesses. that's what I think.
We all know the advantages of BTC, but what are some of the disadvantages??
Bitcoin can't be used like official currency for a country or even to pay regular employee due to high volatility.
In my opinion. The disadvatage of bitcoins is its free use of restaurants and other necessities that money is to be paid. Because the bitcoins you say you'll pay are likely to get you mad. Because people do not really know bitcoins yet. Just like what happened to me but it was my intention that the cashier knows the bitcoins.
We all know the advantages of BTC, but what are some of the disadvantages??
I remember that there were a few topics that talked about this issue but you may not have noticed. Beside the great advantages Bitcoin has its drawbacks. Bitcoin's biggest limitation at the moment is probably the slower pace of the transaction and the fee are still high, despite the reforms, but it does not change much. Bitcoin prices are often volatile, which is unavoidable because it is one of the characteristics of electronic money. One more thing, Bitcoin is increasingly becoming the target of criminals, especially cybercriminals. Bitcoin has an uncontrolled form of trading that should be used by many groups, organizations and criminals using this currency as a transaction method and extortion 
There are many advantages of bitcoins but with some advantages bitcoins also has many disadvantages .
One of the main disadvantage of bitcoin is that its mining takes a lot of time . Bitcoins have a limited stock of 21 million , the limit makes it a bit rigid . The influence of ban of bitcoins in some part of the world leads to a negative impact which decreases its value leading to loss for the investors . While investing the investors has no Buyer Protection . If the computer system catches and the data is lost there is a risk of losing details of the wallets . So all these are some disadvantages of bitcoiins.
One of the main disadvantage of bitcoin is that its mining takes a lot of time . Bitcoins have a limited stock of 21 million , the limit makes it a bit rigid . The influence of ban of bitcoins in some part of the world leads to a negative impact which decreases its value leading to loss for the investors . While investing the investors has no Buyer Protection . If the computer system catches and the data is lost there is a risk of losing details of the wallets . So all these are some disadvantages of bitcoiins.
When accepting money, especially for sellers/vendors, due to its volatility can lead to short term or even long term loses in the event of a price crash.
Moreover, the more it is being used, the higher the cost of the transaction fees are, rendering Bitcoin unprofitable for smaller transactions.
Moreover, the more it is being used, the higher the cost of the transaction fees are, rendering Bitcoin unprofitable for smaller transactions.
To me, the biggest advantage that attracted me to BTC was the fake that it takes back the power of money back into the hands of citizens, it is a currency for the people, by the people. It cannot be manipulated the same as fiat money can.
Bitcoin has quite a few disadvantages.
Some would be the Block generating rate of 1 per 10 Minutes. This in Addition to 1mb blocksize leads to higher fees and longer confirmation time.
And, for me, i Dont like the Bad Reputation of BTC, how it is associated with drug Dealers and hitmen.
Some would be the Block generating rate of 1 per 10 Minutes. This in Addition to 1mb blocksize leads to higher fees and longer confirmation time.
And, for me, i Dont like the Bad Reputation of BTC, how it is associated with drug Dealers and hitmen.
disadvantage of bitcoin is that its price is not stable, not fixed and we are not sure about when it will dump or pump. we can also say that anonymous people who used it to illegal things will not be identified.
We all know the advantages of BTC, but what are some of the disadvantages??
well there are no perfect thing in the world with advantages will come disadvantages. and the disadvantage of bitcoin is bitcoin is anonymouse and bad people can use it to make found to their activity like buying some drugs maybe or guns?? or even funding the terrorist. no one knows. that the main disadvantage of bitcoi according to me
In fact, bitcoins have a lot of shortcomings. But the main drawback in my opinion is the need to constantly perform transactions on the exchange of bitcoins for Fiat. We can't spend our coins directly. It makes us and the bitcoin vulnerable to governments .
Bitcoin is highly praised for its feature but with that it also has many disadvantages like, there is no buyer protection if when good are bought using Bitcoin then if seller fails to deliver the promised goods you can’t reserve the action. Other than this there are also many drawbacks like it is highly volatile, no physical form, wallets can be hacked and much more.
Bitcoin only relies on technology. Without the recommended devices and equipments, you are not be able to use or spend it. Internet, device and electricity. These are the things you need to have to use bitcoin. So without technology stuffs, it's worthless. It's not like cash which you can spend without any tech stuffs. It's not ideal for everyday usage because you have to pay for fees for every transactions you've made. The speed of the transaction depends on the fee you enter. The expensive, the faster. One more thing, there only few shops or establishments which are accepting bitcoin. Most of them are online and has only limited product offered. You have to convert it to cash to buy everything.
We all know the advantages of BTC, but what are some of the disadvantages??
all things has an advantage and disadvantage there's no perfect thing. and i think its disadvantage its being in the online courrencies. because if one time that you need to access the internet and if you have no electricity. then its difficult to used bitcoin and the other is all people will not know about it. and the one of the disadvantage of bitcoin also is being not recignizable because if its not recognizable people don't know what bitcoin and how can they used 
We all know the advantages of BTC, but what are some of the disadvantages??
There are indeed few disadvantages of bitcoin along with its advantages. Firstly, bitcoin transactions are not instant and requires a high amount of network fees to get confirmed. An average bitcoin transaction takes about 30 minutes to confirm. Which make bitcoin not usable in our daily spending. Imagine, waiting for 30 minutes, before you buy a cup of coffee. So fiat money is more practical for daily expenses instead of bitcoin.
However, having said that, bitcoin is a great investment asset. With increasing number of people getting interested about bitcoin on a daily basis. Bitcoin price is already sky rocketing. IT holds a lot of potential for the future.
for the only only disadvantage of bitcoin is its volatility, we doesn't know what will happen to bitcoin in the future and it might go down
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