What are the biggest disadvantage of bitcoin ? - page 7.

raiangelah

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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

Hi Evakotel,

What they don't like in Bitcoin is its fast changing value. they are scared that today they have a pretty decent value of bitcoin but tomorrow that can be the opposite. one other thing is the possibility of security breaches. once this happens the value of bitcoin will surely fall.

CryPtoEnGanGe

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I'm not sure if it's the biggest disadvantage of bitcoin but I think the fact that it is not yet widely accepted as a payment system in the world.

Topek3

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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

This is because it is very hard to cheat or con anyone in Bitcoin due to the public ledger, otherwise known as the block chain. Now that we've covered the basic advantages, we can move on to the disadvantages. There are three main ones that need to be pointed out. This is so you can get an overall idea of what to expect ...

universal3ee

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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

I believe it is the cost involve and the lacking of bitcoin ability for accepting payment. If you are able to provide some scaling solution to the btc, it will be very beneficial to aiding the drawback of bitcoin.

leow

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At first glance, it seems that anonymity is a huge plus. In fact, using the wallet anonymously, except for the data for authorization, the user has nothing. If the password is lost, it will not be possible to restore it, as no personal data was not specified there. Accordingly, together with the password, the funds on the wallet will disappear. Personally for me this is the most enormous lack of.

amadorj76

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Quote from: udayantha11 on April 06, 2018, 12:49:20 AM

because its anonymous , no central authority so governments and institutions do not like to add as payment facility.

For me the biggest disadvantages of bitcoin is the unpredictable price, It goes down to the lowest level without informing anyone and its price is really somtimes dissapointing.

Zenixin

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MR06Q8ZM3194

Quote from: Dod Ong on April 18, 2018, 05:53:22 AM

Quote from: Sumo on April 02, 2018, 12:48:00 PM

The main disadvantage of bitcoin is its constant instability. We don't know how bitcoin will behave in a week.

For me, the biggest advantage having a bitcoin are, if you have a bitcoin you can control some people who wants money. You can buy all your want or all your need. I believed that if you have a money you can have a more friends and you can control them like my friend.

That's not a good perception, you cant buy real friend even you have money, I doubt you'll be able to succeed if you make money as your superior in life, bitcoin can only help us financially and can also worsen our attitude if not use properly.

Dod Ong

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Quote from: Sumo on April 02, 2018, 12:48:00 PM

The main disadvantage of bitcoin is its constant instability. We don't know how bitcoin will behave in a week.

For me, the biggest advantage having a bitcoin are, if you have a bitcoin you can control some people who wants money. You can buy all your want or all your need. I believed that if you have a money you can have a more friends and you can control them like my friend.

keywordsbadge

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I think there should be some reputated bitcoin trading platforms operated directly by the developers here

DrYe5

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Quote from: kskwerl on April 07, 2018, 06:07:08 AM

The public blockchain of Bitcoin may be his biggest flaw. While everyone is worried about Bitcoin's transactional restrictions, very few think about the consequences of his public book on confidentiality.

Since Bitcoins do not have a physical form, it cannot be used in physical stores. It would always have to be converted to other currencies. Cards with Bitcoin wallet information stored in them have been proposed, but there is no consensus on a particular system.

kskwerl

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The public blockchain of Bitcoin may be his biggest flaw. While everyone is worried about Bitcoin's transactional restrictions, very few think about the consequences of his public book on confidentiality.

jeanpadel14

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One of the biggest disadvantage of bitcoin that i dont want to happen to me is if you lose your bitcoin wallet, you have lost all of your bitcoins in that wallet. You cannot regain it and they are simply lost forever untill and unless you have backed up the wallet with a backup phrase code. This backup phrase code can be used to recover the lost bitcoin wallet balance.
In case credit card/debit card stolen, we can call the merchant to cancel the card and request for a new one but in case of Bitcoins, as it is decentralized and no one has control over it , we don’t have any person/organisation to call.

Dudeperfect

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There is a fear of uncertainty when it comes to the actual ground level utilization of Bitcoin. At this stage, we need to focus on improvisation of the utility value of Bitcoin and transaction fees and time is causing an obstacle in the growth of Bitcoin. Today many things of day to day life are available at the price of Bitcoin transaction fee so why should anyone go through Bitcoin in that case for micro transaction? We need to find a concrete solution.

x xurtjati

newbie

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a loss for me when the price of coins is not as I anticipated it was the first loss when we received still many deals that twists and turns make me very uncomfortable that's all my complaints I have faced

MS.LAWLIET

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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

bitcoin is volatile and it is a big disadvantage to bitcoin. people do afraid of losing things in bitcoin so some didn't even dare to invest in bitcoin.

skull_pro

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Driven by news and people`s sentiments, and also the fact that it can be hacked anytime

racham02

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I think the biggest disadvantage in bitcoin for me is to lose your bitcoin wallet because All your bitcoins could be lost if your hard drive crashes, or you lose your data in some other way. If this happens, you may not be able to recover any of your coins , the worst part and most painful happens if you lose the bitcoin wallet or private key.

VaramiR

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Governments think it is a cyber terrorism or something because they do not get any payments or they can not get cut from it so they try to make people think this is dangerous and illegal and they try to prevent its spread to the world.

tentara pelajar

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Anonymous transactions that exist in bitcoin are both advantages and disadvantages. why do I call it a disadvantages? because it will definitely be used by bad people to commit a crime. Later the edges have a bad impact on the value and future of bitcoin.

erwin_ibrahim

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yes i already feel the disadvantages in bitcoin. because i ever buy bitcoin with high price and bitcoin price we know bitcoin price is decreasing .. we just hope fast pass from this difficulty ...

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