What do you think are the biggest disadvantages of Bitcoin? - page 22.

hernanlazaro

newbie

Activity: 11

Merit: 0

Quote from: g2com on November 30, 2016, 05:39:07 AM

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 has many advantages as well as disadvantages that may greatly affect our lives. For me, i think the greatest disadvantage of bitcoin is that, losing a lot of money instead of gaining profit. Bitcoin is about taking a risk for you to earn a lot of profit. Keep in mind that not all the time we can gain profit because sometimes we can lose some or we can be scammed by someone.

chicobr

full member

Activity: 235

Merit: 250

For me, The biggest disadvantages of Bitcoin is that it has a too small block size, just 1 MB. This makes the transaction speed is too long when comparing with others.

tranquanghuy

member

Activity: 166

Merit: 10

I don't like about bitcoin that its price is constantly changing and it is very difficult to predict its behavior

chichigirl

sr. member

Activity: 588

Merit: 251

HELENA

Quote from: HiringYou on November 20, 2017, 08:38:39 AM

The factors that are preventing Bitcoin to be accepted for payment is it's decentralized nature.As it is not under the control of any government so government is not accepting it for financial transactions.Moreover transactions thorough Bitcoin are anonymous so the government is not able to identify the people involved in the transactions. This is one more reason due to which government is not accepting it for financial transactions.

I agree, the government doesn't allow bitcoin in any financial transactions because they can't control it and they cannot identify also the people behind the certain transactions.

shiunsai

hero member

Activity: 759

Merit: 505

Sometimes it takes too long for transaction to get confirmed and that is very annoying and frustrating if you are in emergency and to get transaction confirmed quickly we need to add higher fees which makes to loose some money and the biggest disadvantage is that it cannot be used as a payment method anywhere to buy things directly.

tranquanghuy

member

Activity: 166

Merit: 10

in our country the disadvantages of bitcoin is we cant still use it as payment method in market.

UchihaRukawa

full member

Activity: 364

Merit: 100

Quote from: g2com on November 30, 2016, 05:39:07 AM

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 its biggest disadvantage is its volatility, anybody would be really worried knowing that they could lose their money or investments in an instant. But the good thing is, that bitcoin, being very volatile, can also be a good thing, especially for the ones who are trading coins. So I think, its a bit risky, but bitcoin has no disadvantage.

Owl129

member

Activity: 203

Merit: 10

For me the biggest disadvantage is its fluctuating price, people are afraid to invest in bitcoin for most of the time bitcoin price decrease and people might lose their money, but still there are times where bitcoin price increase its just a matter of time.

HiringYou

sr. member

Activity: 574

Merit: 256

The factors that are preventing Bitcoin to be accepted for payment is it's decentralized nature.As it is not under the control of any government so government is not accepting it for financial transactions.Moreover transactions thorough Bitcoin are anonymous so the government is not able to identify the people involved in the transactions. This is one more reason due to which government is not accepting it for financial transactions.

anga3636

member

Activity: 119

Merit: 10

I concur with you totally, I think this system is looking most powerless for me. value flimsiness and value unpredictability are the significant hindrances in this segment. misleading could be the another disturbing reason as far as Bitcoin.
in any case, everywhere throughout the things, I do have faith in this stage.

ZenaXF

newbie

Activity: 21

Merit: 0

It is illegal in many countries and regions, especially in large markets such as China. China has unlimited market potential, and some Chinese people have to pass intermediate trading platforms with delays.

racham02

full member

Activity: 257

Merit: 100

For me the biggest disadvantage of bitcoin is when the value price decrease fastly, not always maintain or the price value isn't stable sometimes and thier some people who are concerned to invest in bitcoin they are afraid of losing there money that they have.

haiyou

newbie

Activity: 28

Merit: 0

If I want to say what I want most to say now, that is the current bitcoin price is too high, I hope there will be a chance of intermediate adjustment, so that I can promptly admit with more acceptable prices, although now It is difficult to see this opportunity, but I still quietly waiting

Pettuh4

sr. member

Activity: 812

Merit: 251

Quote from: Bitcotalk on November 20, 2017, 02:03:08 AM

Quote from: nethan1btc on November 10, 2017, 08:52:39 PM

Quote from: ?? on ??

Disadvantages of bitcoin are it is not yet being legalized in most countries that's why they don't believe in bitcoin and they think it is scam. Also, It's very dangerous for everyone because we do not know who is bitcoin users because they are anonymous.

You're right in that point of anonymity of bitcoin, yes that is the main issue of bitcoin which people can really make or done illegal stuff because of it. For some it is really a good feature but there are really negative side on bitcoin which we cant really change off, that's why some people when they do hear about bitcoin on the first place they will neglect it because some media do make bad impressions on the public.

Exactly I consider this advantage of bitcoin too. I don’t understand why the developing team of bitcoin is not working on advertisement of bitcoin. Even the nappies and always are being advertised on every TV channel then why bitcoin is not being published so openly. Why governments are not making it legal even they know better how much precious it is in upcoming time.

Will you pay the core devs for the advertisements or will you contribute an amount every month should we all decide to support? There are many out there like you who propose such brilliant ideas but fall short when it comes to forking out money to implement your brilliant ideas. Do you expect the core devs after all their brain power to use their pocket monies for advertisements also?

carodupuis

full member

Activity: 382

Merit: 100

Live cams shows pimped with cryptocurrency on Sexy

Quote from: Ben100 on November 12, 2017, 12:43:18 PM

As each coin has two side, bitcoin too have the same. Being so successful and making billions of bitcoiner, it too has some disadvantages. Instead being so successful, it is non governmental and not under the control of government, It causes several terrorism and illegal activities and being tax free it creates other social issues. Other issue is it's fluctuating value and third is being difficulty in converting into other local currencies. Other bitcoin is very successful across all over the world.

Well I don’t consider them as such the disadvantages of bitcoin because bitcoin is still in the process of improvement and it is really obvious that with time bitcoin sis going to cover all these shortcomings. I don’t think so there is any problem in waiting for confirmation of transactions when you are making a totally independent transaction without involving any other party. This wait is nothing compared to the profits it produce.

Bitcotalk

hero member

Activity: 966

Merit: 517

Quote from: nethan1btc on November 10, 2017, 08:52:39 PM

Quote from: ?? on ??

Disadvantages of bitcoin are it is not yet being legalized in most countries that's why they don't believe in bitcoin and they think it is scam. Also, It's very dangerous for everyone because we do not know who is bitcoin users because they are anonymous.

You're right in that point of anonymity of bitcoin, yes that is the main issue of bitcoin which people can really make or done illegal stuff because of it. For some it is really a good feature but there are really negative side on bitcoin which we cant really change off, that's why some people when they do hear about bitcoin on the first place they will neglect it because some media do make bad impressions on the public.

Exactly I consider this advantage of bitcoin too. I don’t understand why the developing team of bitcoin is not working on advertisement of bitcoin. Even the nappies and always are being advertised on every TV channel then why bitcoin is not being published so openly. Why governments are not making it legal even they know better how much precious it is in upcoming time.

Colt81

sr. member

Activity: 630

Merit: 265

Quote from: jonahmarieaton101 on November 30, 2016, 09:47:51 AM

The biggest disadvantages of bitcoin is that bitcoin can be stolen by anyone in many ways. Bitcoin service providers can be hard to trust, but even if it is, we must to trust bitcoin. You joined in the field of bitcoin then it means you trust it. There is a lack of acceptance, lack of protection because it is not considered as legal in most countries in the world.

I absolutely agree to that, but if you do not want to stole your bitcoin you must put your password or private key in a safe place so that your bitcoin will be not stolen by anyone. In addition, one the biggest disadvantages of bitcoin is you can used in offline transactions and offline market.

mrayazgul

hero member

Activity: 560

Merit: 500

There's some disadvantage of bitcoins which i have listed below in bullets format.

1) Wallet can be lost if you forgot your private KEY
2) Bitcoin Valuation Fluctuates
3) There's no buyer protection since its untraceable
4) Most of countries banned
5) Use in criminal activities
6) Involve in drugs money lauding

Rosa Paula

full member

Activity: 336

Merit: 100

The biggest disadvantages of Bitcoin is Nobody can't control this.I heard there is no system to find out and knowing bitcoin transaction person.Money laundering can not be found through Bitcoin.Moreover Small traders struggle to carry bitcoin transaction fees Cry

watchurstep45

full member

Activity: 300

Merit: 100

we cannot deny that bitcoin has disadvantage, although bitcoin has many advantages.

Topic: What do you think are the biggest disadvantages of Bitcoin? - page 22. (Read 76757 times)