Topic: What are the biggest disadvantage of bitcoin ? - page 4. (Read 1206 times)
in my country bitcoin can also buy goods online, and also for big companies also use bitcoin as their billing tool, because for them bitcoin is really safe to use.
Everything has its own disadvantage and even bitcoin itself....Some people will tend to use it in illegal purpose because the transaction happening here is easy.... We can't do any thing about it especially now that it is gaining its popularity... Scam is rampant and widely happening all over the world.... Bitcoin is easily used by people who has a negative motives, thats why it has a lots of disadvantage but it depends to us if we will use it that way or we will use it in good to eradicate world problem...
Disadvantage can be it can be used for illegal activities which is biggest disadvantage . This also reason why some government are afraid to legalise it
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
maybe you could banned the bitcoin in your country. There are so many news that other countries have illegally credited their currency so that other countries have implemented to get their place in the area.
Another disadvantage in bitcoin is how you can increase it because it is difficult to trade with newbie especially the very votality of the bitcoin's price market.
I think it's price fluctuations and it's not safe to hold them on the internet. They are electronic coin, probably hackers will attack at any time if they have a little negligence.
For bitcoin, one of the biggest weakness is that it’s scalability. When it first came out, it took a mere split second to make a transaction. Right now, it takes hours for the same task. As more people make bitcoin transactions on the network this wait time is only going to increase.
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
In my opinion, the first disadvantage of bitcois that bitcoin is not accepted in other countries. So, maybe it may affect the other countries to not let bitcoin as a future currency. Next is that bitcoin's value is not stable and it may cause to a big loss of money but on the other hand, great increase to money. Last I think is bitcoin is used in many illegal things that can cause for the digital currency to not be accepted as the new currency in different part of the world.
Deep thinking about this problem, the biggest disadvantage is the strongest bitcoin. Bitcoin was born with maximum objectives is decentralization. Because it is not belong to anyone. No one can decide on its price. So if everyone in the world uses it. Can you imagine how much bitcoin is price? According to channel statistics: https://congdongbitcoin.vn/threads/ca-the-gioi-noi-ve-blockchain-nhung-it-ai-su-dung-no.135/ The current use rate is about 0.027 percent. Provisional with current price of BTC is 8900 dollar and 100% people use BTC
= 100/0.027*8900 = 32962962.96 dollar.
If price of bitcoin much that. I think that everybody will sell all bitcoin them have. And lastly, no one is keeping a bitcoin, no one using bitcoin, or rather bitcoin can not be reasonably priced.
= 100/0.027*8900 = 32962962.96 dollar.
If price of bitcoin much that. I think that everybody will sell all bitcoin them have. And lastly, no one is keeping a bitcoin, no one using bitcoin, or rather bitcoin can not be reasonably priced.
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
Disadvantages of Bitcoin I think that Bitcoin price is very unstable. In a short time can go up and down quickly. Bitcoin is not governed by the Government of any country, so its security depends only on ourselves. And of course very vulnerable to hacker intrusion. 
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
Regarding to the acceptance of bitcoin as a payment form, I think bitcoin has a huge disadvantage for it because of its unstable value. It will not be an official currency if it goes up and down from time to time.
the biggest advantage about bitcoin i think the fee. it is expensive.
there are other coins that the fee is cheaper than bitcoin.
there are other coins that the fee is cheaper than bitcoin.
The biggest disadvantage of bitcoin in my opinion sometimes there is still a victim of theft done by irresponsible person so that security is needed in the future to anticipate the occurrence of bad problems and able to provide comfort for the traders.
Although much news events are a bit of a positive for the country, as some countries allow the currency to be paid as an official currency last year, they may also "pull bitcoin into the mud." A number of recent hacking crimes have created a shadow over the safety of blockchain technology.
For example, the NiceHash Money Dig Services in December reported that their nearly 70 million Bitcoins were stolen, representing one of the biggest cyber-attacks in history. It is the biggest disadvantage that affects the value of Bitcoin.
For example, the NiceHash Money Dig Services in December reported that their nearly 70 million Bitcoins were stolen, representing one of the biggest cyber-attacks in history. It is the biggest disadvantage that affects the value of Bitcoin.
certainly when the bitcoin price again dropped dramatically as yesterday it is causing the loss of many people when people are too panic continue to sell their bitcoin. but if they want to wait patiently for sure they also will not feel loss
Disadvantagea such as ever increasing transaction fee. Bitcoin is now getting used more as an asset than a currency due to the profits that people make in buying and selling it. I can say that this is the biggest disadvantage of bitcoin because not all of the users now are using bitcoin in the right way and no one cannot control it.
We all know that bitcoin are not fully completed there are many things in the system that needs to develop. Bitcoin was in the infancy stage or in the process of development that's why people are afraid to trust in bitcoin. Bitcoin can also use as instrument doing an illegal activities like money laundering, scam and etc.
A disadvantage for the purpose of your work is bitcoin's anonymity, and this makes it an easy target for people who are on the sidelines to easily allude to the fact that it can easily be used for money laundering (which in itself is not the whole truth).
If we track all transactions of course bitcoin is not 100% anonymous, we can get until the bitcoin is converted to fiat so we know the actual bitcoin users, but I think anonymous is a nice feature and good thing because it is important to protect someone's privacy. 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 vulnerability of bitcoin from hacking is what bitcoin prevents from being accepted by all of us. Also, if you make a transaction in here, it is untraceable so no one will ever know if you ever use it in illegal and has a high transaction fee. The price of it is unpredictable, it goes up and ggoes down non-stop. You can also go use the bitcoin anonymously. These are the reasons why I guess bitcoin is not fully accepted by us.
Bitcoin not being traceable in transaction is a factor that is making its disadvantage stronger, cause the government cannot track it if it is used for illegal money laundering. Bitcoin has a +- treat of being hacked by hackers. Its price cannot be predicted and its move is always on a rollercoaster ride.
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 are two disadvantages that I don't like about bitcoins: the slow transfer rate and the expensive transaction fees. These problems have been around for quite some time now and I hope the bitcoin community might do something about it. Like some adjustment to bitcoins.
I think most maximimalists would argue that Bitcoin scaling takes time and that slow transactions aren't really that slow when the network isn't busy, and if it is, we need layer 2 solutions.
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