What are the biggest disadvantage of bitcoin ? - page 13.

juragane

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CAT.EX Exchange

Quote from: Evakotel on March 23, 2018, 08:47:50 PM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

according to my personal disadvantage of bitcoin is from the total supply and shipping costs when transfer from another market or when sending to your wallet the price of the fee will be very expensive because every bitcoin price increase then the fee will be used is also very expensive.

SWONG

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i think the biggest problem of bitcoin now is the government accept.
The risk of bitcoin bring to ecnomic is really have.
The bitcoin need supervise and some rule to avoid terrorist,money laundering,Drug trafficking, smuggling, illegal fund-raising.

independence

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The advantage of Bitcoin is that he can not be taken away by the government. Any bank account can be blocked, but nobody can block the purse of the bitcoin. But the big drawback of Bitcoin is that you can not buy ordinary goods like bread on it. Therefore, in order to buy bread, it is necessary to exchange it for fiat money. Fiat money is banks.

espiapogi1994

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for the biggest bitcoin damage it is still known by the goverment. TAX can be purchased with any kind of bitcoin. lowering the cost so that the damage would be worse than expected Sad

Morning honor

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Xircus

Quote from: Evakotel on March 23, 2018, 08:47:50 PM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

Bitcoin are not widely accepted because it has no buyer protection. Even the wallet file could be easily corrupted and in an instant your coins would be lost and there is no other way to recover it.
The value of bitcoins are constantly fluctuating according to the demand.

jerick06

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I think the biggest advantage of btc is being easy to access which anyone could use bitcoin including criminals. Criminals now use bitcoin as a tool for thier illegal transactions. That's why government is against bitcoin because they only know that btc is used for illegal purposes.

Aleth

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The disadvantage are its people who are destroying the good purpose of bitcoin. Another disadvantage i see is the price of bitcoin going down. Plus the people who take advantage of people or abusing people who are investing well in bitcoin.

Handa

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Bitcoin is an secure Platform , it can never be hacked by any means . The one and most coming disadvantage for bitcoin is that it is accepting a numerous wallet address , which comes under high risk. Not easy to hack bitcoin platform but these wallet addresses is an threat to bitcoin community. This is the main disadvantages of bitcoin

Tipsters

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Quote from: Evakotel on March 23, 2018, 08:47:50 PM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

It's biggest advantage is that people abuses bitcoin by the way they use it. Those people are the ones that creates the Ponzi scheme and the government is now aware of it. With that possibility, the government loses trust in many form of crypto because money laundering also takes place in that scheme. Lastly, the volatility of bitcoin is also well-noticed and that is also a big disadvantage.

teeevnglst

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The vulnerability of its security online wallet is so easy to hack if someone is not careful on their private keys and also the way of their browsing habits that attracts every hackers on simply putting some phishing ads by doing so i can say that bitcoin got this simple but important disadvantage there are many more of it but i focus on this one because of its simplicity its never overlooked.

Lalaspace143

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I think the biggest disadvantage of Bitcoin is that there is no stability in terms of the value and also the price of it is unpredictable. This is only my opinion. I know that once you enter to Bitcoin or any trading and investment you need to be prepared by all this issue.

supermine

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Quote from: Evakotel on March 23, 2018, 08:47:50 PM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

There is nothing wrong with the bitcoin it is the most secured form of currency but the problem is with the people we uses bitcoin as money making tool so it can't be used as form of currency due to its price volatility.

Denies

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Quote from: Evakotel on March 23, 2018, 08:47:50 PM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

biggest loss what do you mean?
bitcoin is only prohibited in some countries to become a means of payment or some kind of transaction. the main factor is avoiding taxes and can be misused into money laundering. that is it.

Max.junior1

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I think the biggest disadvantage of Bitcoin when the Internet network has problems because to use bitcoin is in need of internet network. And then Bitcoin is the digital currency, storing the wealth we have in the wallet file. We will lose the wealth we have when we forget the password of the wallet.

entebah

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Quote from: Godday on March 23, 2018, 10:53:25 PM

Quote from: liseff3 on March 23, 2018, 10:50:00 PM

For most governments bitcoin has been believed can cause damage to the state's financial system because banks can not draw taxes from it.

Actually the tax withdrawal or absorption can still be done when someone wants to withdraw their funds and therein is a fee that can be taken exchanger to provide tax to the government

Tax is not an obstacle and I think the same with you.
The exchange company has a business license and is required to pay taxes.
companies benefit from crypto transactions, nothing is wronged and the country is profitable.

Ade A Aziz

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The biggest obstacle of bitcoin is its legality. It could potentially cause the greatest harm if other bitcoins and cryptoes are banned across the country.

mel1978

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Quote from: Evakotel on March 23, 2018, 08:47:50 PM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

The biggest advantages disadvantages of bitcoin for me is when you lost your private key and you cannot get into your account and the problem is you have much bitcoins hold in your wallet. This is one of the biggest problem for me because when you forgot everything for your account and you cannot log in unto it. You lost all that you have in your account.

Findingnemo

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Bitcoin = Financial freedom

Quote from: Evakotel on March 23, 2018, 08:47:50 PM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

I think the bitcoin can be used as a new generations of the currency but many people are use this currency for some illegal purposes if bitcoin has used for a good purpose it will be legalized in all over the world.

Vinz2017

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If there is a lot of seller there will be a lot of supply so the demand is low the prive if btc will down so the holder could have big loss

Athenakim.22

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I think the biggest Disadvantage of bitcoin is Risk and Volatility. Bitcoin has volatility mainly due to the fact that there is a limited amount of coins and the demand for them increases by each passing day. However, it is expected that the volatility will decrease as more time goes on. As more businesses, medias, and trading centers begin to accept Bitcoin, its’ price will eventually settle down.
Currently, Bitcoin’s price bounces everyday mainly due to current events that are related to digital currencies. Also, Bitcoin is still Developing, Bitcoin is still at its infancy stage with incomplete features that are in development to make the digital currency more secure and accessible, new features, tools, and services are currently being developed. Bitcoin has some growth to do before it comes to its full and final potential. This is because Bitcoin is just starting out, and it needs to work out its problems just like how any currency in its beginning stage would need to.

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