if you can break the legality of money laundering in bitcoin then you will be remembered throughout the history of bitcoin.
Topic: What are the biggest disadvantage of bitcoin ? - page 15. (Read 1206 times)
The downside of bitcoin is its future depends on minner and bitcoincore. It is a no-owner crypto, if bitcoin has owners like ETH I'm sure Bitcoin will be more stable.
Bitcoin technology is old and many errors in operation.
Bitcoin technology is old and many errors in operation.
well one of the biggest disadvantage for me is we really dont know who is the creator of bitcoin, we really don't know the identity of pseudonymous creator
other disadvantage of bitcoin for me their is no central bank for bitcoin . IMO
other disadvantage of bitcoin for me their is no central bank for bitcoin . IMO
Slow transaction confirmation speed and high transaction fees are the obvious shortcomings of Bitcoin. I think it is easy for illegal people to use money laundering activities in the gray field
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 prices have fluctuated too much. Bitcoins are scrambled and sometimes play is heartbeat. The exchange rate of traditional currencies does not have such huge fluctuations as bitcoin. This is mainly due to the consideration of the stability of the import and export trade. If the exchange rate of the yuan against the US dollar keeps rising, it will lead to a large increase in imports and the sales of domestic exports will decline seriously. The number of unemployed people will also increase.
The resistance at the current stage is greater. The general public does not understand the principles of Bitcoin, and the resistance of traditional financial institutions to it has led to this situation. Active Internet users can easily understand the principles of P2P networks and know the advantages of bitcoins that cannot be manipulated and controlled by humans. However, ordinary people do not necessarily understand this point. Many people cannot even distinguish the differences between Bitcoin and Q coins. In addition, the biggest advantage of “there is no issuing institution” is that Bitcoin is worthless to some traditional financial practitioners, and these are all derived from their ingrained ideas.
The vulnerability of the trading platform. The Bitcoin network is very robust, but the Bitcoin trading platform is very fragile. The trading platform is usually a website with trading functions, and the website can be hacked or closed by the competent authority. Therefore, when trading Bitcoin, it is better to choose a relatively more powerful trading website.
The transaction confirmation time is long. When the Bitcoin wallet is installed for the first time, it takes a lot of time to download the data of the historical transaction records. Bitcoin transactions, in order to confirm the accuracy of the data, will consume some time, interact with the p2p network, get the confirmation of the entire network, the transaction is completed.
Scalability issues is the most obvious problems today by many blockchain networks if you can solve it then your name will never be forgotten in the history of blockchain technology.
Bitcoin is made to be a way of mode of transactions. It isn't made for investment and volatile price.
Dettaching from its original goes make it like a fiat currency or gold. It price is derived feom the desires and how much people are willing to buy it.
Using it to different things is the disadvantages of bitcoins.
Dettaching from its original goes make it like a fiat currency or gold. It price is derived feom the desires and how much people are willing to buy it.
Using it to different things is the disadvantages of bitcoins.
The price is very volatile. Due to a large number of speculators intervening, the price of Bitcoin exchange cash is like a roller coaster. Make bitcoin more suitable for speculation, rather than anonymous transactions.
I think the biggest drawback of Bitcoin is that it is vulnerable to the market, which makes the price fluctuate greatly. This makes investors full of skepticism about Bitcoin investment and reducing the investment crowd.
Currently, it is unable to handle a large number of transactions. Due to the limitation of the capacity of each block, Bitcoin cannot handle a large number of transactions at the same time.
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
During this time the movement of Bitcoin exchange rate is very volatile. The end of last year alone was still at US $ 1,000, less than two months had decreased by the same amount.
the biggest disadvantages of bitcoin and others crypto is its legality status, because it is still not considered as a legal payment method by many government, so it gives a feeling of "underworld" situation. i guess that is the main issue, if it is legal worldwide, it's like curtain being removed and bitcoin is launched for everyone to use and enjoy
Bitcoin may be used for illegal activities, including the sale of pirated and counterfeit goods, theft of credit cards, and a gray area.
vulnerability to hackers, high fees and not being accepted as a payment form... it would take years before people start accepting bitcoins as one of the accepted form of payment globally
The trading platform is vulnerable to hacking, the blockchain leads to long transaction confirmation time, and the current speculativeness is very large. Recently, special documents have been issued to rectify the Bitcoin trading platform.
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
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