What do you think are the biggest disadvantages of Bitcoin? - page 23.

Mei1418

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Activity: 294

Merit: 101

Quote from: tiggytomb on November 30, 2016, 06:19:18 AM

I think a number of things.

The fact that nobody can control it.
The instability of the price.
The inability to charge crazy bank like fees for using it.
The fact that it is almost anonymous.
It wasn't created by 'them'.
Still a new technology, unproven.
Has received a lot of negativity, bad press & illegal happenings.

These are just a few that come to mind right now.

Thanks for your information sir,

StonedWolf

full member

Activity: 308

Merit: 120

I think two things are the most disadvantageous about bitcoin. The first is the rate of fee extremely high, for example with the blockchain wallet to send 100 dollars you have to reserve 10 dollars for the fee. Otherwise, the second thing that concerns a minority of bitcoin user is the extremely high cost of bitcoin minning.

Rj Manik

full member

Activity: 448

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The biggest disadvantages of Bitcoin transaction fee.Moreover bitcoin transaction time is long.It take long time pending.Bitcoin market all time highly fluctuate Shocked

Sometime bitcoin price highly increasing and sometime highly reducing.It is a biggest problem.

Bambinoe

full member

Activity: 168

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Waiting time on transactions and fluctuating prices...

Nana21

newbie

Activity: 56

Merit: 0

The only disadvantage of bitcoin at a moment is that it is not accepted at offline places like restaurants or malls where we can spend them to buy food or clothes and apart from that I don't see any disadvantages attached with bitcoins.

The Alchemlst

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Activity: 350

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BITDEPOSITARY - Make ICO's , More Secure

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

being exposed to countless online threats and hackers are the biggest advantage that I could think for bitcoins since it is internet based. Though it is also its advantage because it can process transactions anywhere in the world so fast and with minimal fees and processing time unlike normal currencies. Aside from that this disadvantage of bitcoins can be reduced depending on different safety precautions.

daarul50

legendary

Activity: 1596

Merit: 1034

Quote from: bryant.coleman on November 15, 2017, 12:48:01 PM

Right now the biggest disadvantage is the high fees and the limited block size. The 1 MB block size is a big problem right now. And that is the reason why the exchange rate of BTC is going down, while that of Bitcoin Cash is going up.

Until now the cost is high for each transaction because the number of enthusiasts bitcoin every day is always increasing. however, we should be grateful even though the high cost of bitcoin transaction still we do not feel a significant loss to the cost so that users also feel happy about the development of bitcoin because the more popular bitcoin the more people to switch to using bitcoin as a tool to transact.

Richy007

newbie

Activity: 19

Merit: 0

High fees, paid $11 to send $60 off Coinbase over the weekend, that's ridiculous. Cry

bryant.coleman

legendary

Activity: 3766

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Right now the biggest disadvantage is the high fees and the limited block size. The 1 MB block size is a big problem right now. And that is the reason why the exchange rate of BTC is going down, while that of Bitcoin Cash is going up.

sagar93

newbie

Activity: 12

Merit: 0

Bitcoin is perfect no disadvantage , lack of knowledge of handling blockchain wallet and non reversible transactions prevent for its use, transaction fees for sale and purchase is high.

ruslango

newbie

Activity: 40

Merit: 0

decentralization,I consider it is the greatest gain of bitcoin, is also the largest downside.Decentralization indicates that all nodes appear like a mess of items. It is extremely hard to interfere with the development of the system with a specific exterior pressure, and it is extremely hard for you to get the path of the long term even if you interfere with it. The advancement of Decentralization programs is unpredictable.

jilani

full member

Activity: 244

Merit: 100

Bitcoin is not stable currency it's anytime more increasing & suddenly more reducing i think it's a big disadvantages.
Another disadvantages BTC transaction fee is very high.Many times BTC transaction have been pending for a long time.

lutfi-hasan

member

Activity: 336

Merit: 10

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

When the market price goes down then we can not benefit from bitcoin.

acmagbanua21

member

Activity: 84

Merit: 10

Bitcoin's value changes depends on the law of demand and supply and If the demand of bitcoin is high and the supply is not that high compare to the demand, then bitcoin's value will increase.

cryptito

newbie

Activity: 43

Merit: 0

anonimity number 1 and second is that is centralized. 1 milion has satoshi and other corporations more so we make them rich

darkywis

full member

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BIG AIRDROP: t.me/otppaychat

When you transfer bitcoin to the wrong wallet address it will not be restored when it is approved.

amspec

jr. member

Activity: 55

Merit: 10

its good but people use it in a bad way doing illegal activities such as selling illegal drugs or guns for bitcoin

Erlinda Santiago

full member

Activity: 266

Merit: 100

The most disadvantage of bitcoin is u cant control the money exchange of the bitcoin so sad

Haxor321

sr. member

Activity: 489

Merit: 250

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

Some of the disadvantages of Bitcoin is the instability of its value, it keeps changing all the time sometimes its high sometimes its low. And also it is not considered in some countries so not everyone is allowed to use it and work here

syamster

hero member

Activity: 1078

Merit: 501

Quote from: aleksabat on November 07, 2017, 12:02:12 AM

In my humble opinion the biggest disadvantage of bitcoin it is huge comission, especially during sending little amounts of money. Sometimes percentage is too high

In my opinion there are two disadvantages of bitcoin first disadvantage is that bitcoin is only available on internet if you have internet then its mean you have a bitcoin and second one is bitcoin have no physical shape or logo so the people want to see bitcoin and they want to fell it I hope that bitcoin will fix these two problems.

Topic: What do you think are the biggest disadvantages of Bitcoin? - page 23. (Read 76757 times)