Topic: What are some disadvantages of BTC? - page 8. (Read 7950 times)
disadvantage of bitcoin are high transaction fee its too long to send bitcoin. the possibilty to become shitcoin it to big since satoshi nakamoto never seen by people. hoping that it will not happen in the future
There is too much deal. There is a lot of cost. But Bitcoin is amazing. The progress in the future is going to go down.
The big disadvantage of bitcoin is the high risk of drop of price in the market. We were unable to control the market even we can predict it , there still chance that it drops. As of, still it high price. Hoping still continue to rise.
Though bitcoin is very revolutionary, its infinite deflation is destined to become a good value store than gold, but it is difficult for large-scale transactions.
Little Bitcoin is known as a virtual currency. It is considered illegal in many countries and has been banned. Besides, if there is no internet and access device, you can not join it. Finally, its value is constantly decreasing, causing many to feel anxious
I think that the main disadvantage of BTC is that i hadn't bought it earlier))
But to be serious, i believe that BTC is not really convenient to be an everyday currency. Its price is too high so u actually can not buy anything for it.
Moreover, according to features of blockchain of BTC it's too slow to be used in our life.
But to be serious, i believe that BTC is not really convenient to be an everyday currency. Its price is too high so u actually can not buy anything for it.
Moreover, according to features of blockchain of BTC it's too slow to be used in our life.
They say bitcoins offers fast and almost feeless transactions you will so.But today it is the disadvantage of bitcoin,blockchains fee cant adjust with the rising value of bitcoins so fees got so high in value rather than before.And traffics on blockchain now are so long that it has 200k+ unconfirmed transaction within days
I agree too, in fact when bitcoin is increasing in fame, the transaction is very affordable, and almost everyone can transact not very limited as of today. To add something we can also say that the volatility of bitcoin is a a bad thing too, though its volatility can make you earn large profit when holding bitcoin, it can also make you loose all your holdings.
transaction time, transaction rate and some stupid people who dive into Bitcoin without having any knowledge to get some money, not to face the risks 
The disadvantage of bitcoin is its transaction time. We are paying for a huge transaction fee now but the transaction time keeps on increasing. I know that lightning network is not a thing and probably not going to be a thing in the next couple of years but this doesn't change the fact that both the transaction time and fee of bitcoin is its disadvantage. It's still cheap compared to other ways of sending money, though. As day goes by, this disadvantage keeps on getting worse and worse.
Another disadvantage is the community where everyone is trying to pull each other down. I think it is limiting our growth since we do grow by supporting each other and not by competition. We should help each other instead of spreading FUD or promoting things for the benefits of no one but ourselves.
Another disadvantage is the community where everyone is trying to pull each other down. I think it is limiting our growth since we do grow by supporting each other and not by competition. We should help each other instead of spreading FUD or promoting things for the benefits of no one but ourselves.
They say bitcoins offers fast and almost feeless transactions you will so.But today it is the disadvantage of bitcoin,blockchains fee cant adjust with the rising value of bitcoins so fees got so high in value rather than before.And traffics on blockchain now are so long that it has 200k+ unconfirmed transaction within days
First of all, I'm talking to people who refuse to admit that bitcoin have some flaws. In fact, like whatever things existing in the world, bitcoin also has some advantages and other disadvantages, it's the same, and it does not require any philosophy. Otherwise, As an example of a point of weakness, I will mention the instability of the value. Which is easily noticeable from the part of those who follow the value's variations in weekly.
I think costs are getting more expensive, It needs strong networking to spread the word on bitcoin, Bitcoin is relatively new and most of its features are incomplete and There is still a long way to go before Bitcoin gets to its full potential.
I think disadvantages includes exposure to specific scams and fraud, the susceptibility to uncontrolled price swings over period of time an no cash backs or refunds plus the people who have lost some income from it because of insufficient knowledge about it.
Here are some main disadvantages of bitcoin listed below:
1) The biggest disadvantage of Bitcoin is that it is very volatile and price of bitcoin keeps changing very fast and sharply which is not the case with other currencies which are very stable.
2) One of the cons of Bitcoins is that lack of awareness among people and also the lack of technology in many parts of the world makes it very difficult to make bitcoin a globally accepted currency.
3) Another limitation of Bitcoins is that it is not well regulated and the fact that no central bank has approved its usage makes it very difficult for people to accept or make payment in bitcoins because no matter how beneficial a thing is if it not legal then it is very difficult to make people accept the technology or new currency
1) The biggest disadvantage of Bitcoin is that it is very volatile and price of bitcoin keeps changing very fast and sharply which is not the case with other currencies which are very stable.
2) One of the cons of Bitcoins is that lack of awareness among people and also the lack of technology in many parts of the world makes it very difficult to make bitcoin a globally accepted currency.
3) Another limitation of Bitcoins is that it is not well regulated and the fact that no central bank has approved its usage makes it very difficult for people to accept or make payment in bitcoins because no matter how beneficial a thing is if it not legal then it is very difficult to make people accept the technology or new currency
When goods are bought using Bitcoins, and the seller doesn’t send the promised goods, nothing can be done to reverse the transaction. This problem can be solved using a third party escrow service like ClearCoin, but then, escrow services would assume the role of banks, which would cause Bitcoins to be similar to a more traditional currency.
If a hard drive crashes, or a virus corrupts data , and the wallet file is corrupted, Bitcoins have essentially been “lost”. There is nothing that can done to recover it. But if you have back up you can recover it be wisely.
We all know the advantages of BTC, but what are some of the disadvantages??
Well for me the disadvantage of bitcoin is too many critism.Many bashers are coming because they easily judge a person doing bitcoin and become rich easily.They will make story ang news that.. that person is doing illegal things.Thats not unfair. There is no disadvantage of having bitcoins. The only disadvantages are the people who use the name of bitcoin just to scam others or use it in illegal way. Many of them use bitcoin as a front to fool and scam people. Actually, bitcoin must be our currency now, not just because it is safe from counterfeiting, but it helps people to transact, buy and sell things with ease.
We all know the advantages of BTC, but what are some of the disadvantages??
Well for me the disadvantage of bitcoin is too many critism.Many bashers are coming because they easily judge a person doing bitcoin and become rich easily.They will make story ang news that.. that person is doing illegal things.Thats not unfair.
I think the disadvantage of BTC is the transaction and the search for BTC through the excavator. Nowadays digging bitcoin is very hard, your computer has to solve algorithms so long that you can earn 1 BTC.
Then the transaction of BTC. It is difficult and really worries when your money is too slow. Apart from the disadvantages mentioned above, there are no other disadvantages.
Then the transaction of BTC. It is difficult and really worries when your money is too slow. Apart from the disadvantages mentioned above, there are no other disadvantages.
there are many disadvantages of bitcoin one of that is it can be hacked and it system may get down and we are not sure about it's price if it is still good in the market place.
I really don't know but so far, there is really no incentives in hacking bitcoin because everything, all of the bitcoin transactions are recorded in ledger, and if there is a serious effort in tracking it, it can be tracked. I don't also hear that bitcoin is hacked but there are many cases of hacking to sites that handle bitcoin like recently the nicehash but no case really of hacking to bitcoin core itself.
Jump to: