Topic: What are the disadvantages of Bitcoin? (Read 157 times)
i think avoiding tax, erase money
Of course the high volatility. That's why lot of countries doesn't accept that currency as a currency but not a fraud. Some of countries even ban it.
For me i have two disadvantage of bitcoin first is, no physical Form 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. Since there would be multiple competing systems, merchants would find it unfeasible to support all Bitcoin cards, and therefore users would be forced to convert Bitcoins anyway, unless a universal system is proposed and implemented. And second is no valuation Guarantee Since there is no central authority governing Bitcoins, no one can guarantee its minimum valuation. If a large group of merchants decide to “dump” Bitcoins and leave the system, its valuation will decrease greatly which will immensely hurt users who have a large amount of wealth invested in Bitcoins. The decentralized nature of bitcoin is both a curse and blessing. And lastly every people using bitcoin is not finding a job because they have bitcoin . But still im enjoying bitcoin and very helpful to many people .
Since bitcoin keeps growing as a very valuable asset, but the digital QR codes makes it vulnerable, so thing in my head is when the black market starts to ruin its reputation.
dont know yet
For me that it's hard to start working with it or learning about it without going through millions of fraud trainings and sachems first
What are the disadvantages of Bitcoin?
As with investing in the stock markets, bitcoin prices are fickle and would drop down at a moment's notice and would shoot up out of the blue. This would mean that you should really keep an eye on your holdings and do informed investments. Next, bitcoin is not a globally accepted as a monetary currency thus, you need to liquidate it to be able to exchange it to services and products. Lastly, bitcoin is an internet heavy asset. So, no internet connection no transaction.
What are the disadvantages of Bitcoin?
Jump to: