Topic: What are the biggest disadvantage of bitcoin ? - page 3. (Read 1206 times)
it is anonymous and can be used by everyone of course this makes other people suffered huge losses. a lot of crime acts in the name of bitcoin.
think the main drawback of the cryptocommunity is a problem with ethics, because often the participants believe that if in the blockroom some mathematical calculations and algorithms mean you do not have to follow simple human rules. So, inside the cryptocommunity there are two warring groups: some consider bitcoin as a payment system, others - as a means for investments, and both groups are not ready for a compromise.
Conflict between groups can lead to a protocol change and the subsequent division of bitcoin into two new currencies. Then each team will have the opportunity to work on its stock exchange, but this will lead to further fragmentation.
Conflict between groups can lead to a protocol change and the subsequent division of bitcoin into two new currencies. Then each team will have the opportunity to work on its stock exchange, but this will lead to further fragmentation.
One of the biggest disadvantage of bitcoin is the fluctuation in the prices of bitcoin and it can also be used for illegal activities, including the sale of pirated and counterfeit goods, theft of credit cards and so on
Bitcoin is very vulnerable to hackers considering it's system. Also, it has high fees. Another is that you can use it for illegal activities such as pornographic materials and in deep web. But it's biggest disadvantages is that it is very volatile that is why it is very hard to predict its value and these make the investors fear in investing in bitcoin.
I think the biggest disadvantages of bitcoin is the biggest fluctuation of the market price which until now not fully recovered that made a history in crypto world this is also the reason why people afraid to invest.
Bitcoin is very vulnerable to hackers considering it's system. Also, it has high fees. Another is that you can use it for illegal activities such as pornographic materials and in deep web. But it's biggest disadvantages is that it is very volatile that is why it is very hard to predict its value and these make the investors fear in investing in bitcoin.
Bitcoins has various pros and cons.No doubt bitcoin is very easy to use but still is has many disadvantages .One of the main disadvantage is its virtual nature. Bitcoin has no stability. When the price of bitcoin fall down , this create panic among the people .People sell their bitcoin at low prices and suffer from a major lose.Security is the other main issue in bitcoin.Once your account is hacked it cannot be recoverd and if your wallet password is lost all your coins in the wallet will be stolen and you cannot get your money back.
Well I think that the biggest disadvantage of the bitcoin is its legality. You cant really use the bitcoin in all the countries around the world. Like India, india has banned the bitcoin for some unknown reason. Probably because of the risk to their goverment but the reason is really unknown. The second biggest disadvantage of the bitcoin is its security. You cant really deny the fact that bitcoin is vunerable to some sort of hackers even if bitcoin has some codes that are really hard to breach but there are lots of great hackers that are able to access it completely.
I feel that confirmation time is kind of disadvantage. It takes like half an hour for 6 confirmations.
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
For me, Bitcoin has no loss even that I get a profit. Maybe Bitcoin has its disadvantages but it can all be covered with enormous profits that I can get. I always make the lack of Bitcoin a challenge for me so I can learn more about Bitcoin and understand the actions I should take when I'm in a panic.
. Bitcoin has the same problems as well. I have earned a lot of money in this Bitcoin and taught many people to work. My family and I run through this work. It seems to me that there is some difficulty in the country's government or it considers it illegal transactions and that money laundering, I think all these aspects seem to be difficult.
I think the biggest disadvantage of bitcoin is that its price is always changing. Due to the impact of the number of users causing the bitcoin increase continuously decrease. Many people can earn a lot of profits in one day. But severe cases of bitcoin have also been reduced rapidly. This is a disadvantage of bitcoin.
well, I think the major disadvantage of the bitcoin is not widely accepted and used by the bitcoin criminal gangs with the intent to launder money. We now have very high transaction costs bitcoin and takes a long time, I hope in future bitcoin will change and grow more powerful.
the disadvatages of bitcoin that makes people dont want to use bitcoin is because there are a lot of scammer in this "world" like scamming people, phising website and the other method. and this is makes the investor of bitcoin leave and try to find another platform with lower scammer than bitcoin
For me the biggest disadvantage of Bitcoin is when the price getting down and down. We all know that the people always wanted to earn big so when the price getting down people will doubt it's ability to make it stronger .
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 becomes very useful for criminals who want to hide the money from their crimes. Because if they save money in the bank, the money from the crime can be easily traced.
Transaction time.
For me, the advantages of bitcoin are; it is very volatile that makes it price value unpredictable; it is bitcoin trading is very risky that make its difficult to known if one's holding will be a big gainer or will be a big loser; another thing is its transaction cost that is getting higher and higher; more so it can be use for illegal activities since it is not regulated by the government.
well, I think that the biggest disadvantage of the purpose of use for illegal activities, and the current deficiencies of the bitcoin is high transaction costs and transactions take a long time, I hope in the future and would improve bitcoin development more powerful.
The disadvantage of bitcoin is that it is not widely accepted, as we all know their are some countries that ban using bitcoin as a payment for goods or service purchases. Their is no buyer protection when goods or services are payed using Bitcoins, and the seller doesn’t send the promised goods or service, nothing can be done to reverse the transaction. Also one of the disadvantage of bitcoin is that it is risky and volatile because due to the fact that there is a limited amount of coins and the demand for them increases by each passing day.
well, I think that the biggest disadvantage of the purpose of use for illegal activities, and the current deficiencies of the bitcoin is high transaction costs and transactions take a long time, I hope in the future and would improve bitcoin development more powerful.
I think the current shortcomings of bitcoin are the high transaction costs and the bitcoin delivery costs between markets and deliveries that take a while
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