Topic: What do you think are the biggest disadvantages of Bitcoin? - page 26. (Read 76757 times)
November 08, 2017, 12:37:32 PM
I think it's the slow process for confirming Bitcoin transactions. Imagine waiting for hours to confirm your purchase. Maybe, it's possible for online purchases but still it's something that needs to improve.
November 08, 2017, 12:24:04 PM
BTCBTC Price is very unstable. Even BTC price is rising , that also a symptom of a very unstable condition. Anyway It is a profit to us. But we can surely understand one day that process will be reversed.
November 08, 2017, 12:22:58 PM
I think I'm most tired of my friends and family asking: "Isnt that illegal?"
LOL, same situation here, it's why i even stopped to talk about bitcoin.
- "Hey do you know bitcoin ?"
- "Yes sure, it is the currency of the darkweb"
(¬‿¬)
thank you bitcoin 
November 08, 2017, 12:18:39 PM
I think I'm most tired of my friends and family asking: "Isnt that illegal?"
LOL, same situation here, it's why i even stopped to talk about bitcoin.
- "Hey do you know bitcoin ?"
- "Yes sure, it is the currency of the darkweb"
(¬‿¬)
thank you bitcoin November 08, 2017, 12:14:53 PM
Bitcoin is a victim of its own success, far too volatile, but also too slow and expensive for transactions.
I'm agree with you
November 08, 2017, 12:14:12 PM
Bitcoin is a victim of its own success, far too volatile, but also too slow and expensive for transactions.
November 08, 2017, 12:06:35 PM
in my opinion, bitcoin price fluctuations suddenly rise and fall, high transaction costs and slow transactions can also be a factor causing bitcoin can not be accepted as a primary form of payment
November 08, 2017, 12:05:21 PM
- energy needs will raise questions for the whole thing (it will be a huge effort for the last million to be mined - i doubt that they will ever mined till the end)
- proof of work concept being questioned as of efficiency and by that time other more flexible and less energy consuming cryptos might emerge. that doesn't mean that btc will loose it's strong appeal due to 21 million hard coded thing
-also the security thing is something that will follow us for a long time it seems but it will be settled down one way or another
for the moment ride the wave, no questions asked ....lol
- proof of work concept being questioned as of efficiency and by that time other more flexible and less energy consuming cryptos might emerge. that doesn't mean that btc will loose it's strong appeal due to 21 million hard coded thing
-also the security thing is something that will follow us for a long time it seems but it will be settled down one way or another
for the moment ride the wave, no questions asked ....lol
November 08, 2017, 12:02:44 PM
Disadvantages of Bitcoin
1. Exposure to Bitcoin-Specific Scams and Fraud
2. Black Market Activity May Damage Reputation and Usefulness
3. Susceptible to High Price Volatility
4. No Chargebacks or Refunds
1. Exposure to Bitcoin-Specific Scams and Fraud
2. Black Market Activity May Damage Reputation and Usefulness
3. Susceptible to High Price Volatility
4. No Chargebacks or Refunds
November 08, 2017, 11:55:43 AM
There is one disadvantage with Bitcoin and that is people trying to hold onto it. Some people know how to hold onto their Bitcoins and some people don't. From what I've been reading in this forum, the people that lose money while putting their money in many Altcoin ICO's would've been better just by holding onto their Bitcoins instead of recklessly spending them.
November 08, 2017, 11:49:19 AM
If there is advantage for sure there will be few disadvantages also there my bigger most concern is the transaction time of the bitcoin and another thing is scammer fear. Hope in future this will be rectified or else we will be used to it. Also the charges for transaction is more bothering me I feel it is going to be biggest disadvantages of bitcoin.
November 08, 2017, 11:41:26 AM
You have the risk on network security, at least 2 exchanges have had high profile thefts occur in past years which have effected the market, exchanges make for big money targets and there's no real way to recover the funds.
November 08, 2017, 11:39:14 AM
in my opinion, bitcoin price fluctuations suddenly rise and fall, high transaction costs and slow transactions can also be a factor causing bitcoin can not be accepted as a primary form of payment
November 07, 2017, 12:16:30 AM
Many people stating that delay in confirmation time is the greatest drawback to bitcoins however i don't believe its an big issue should you add higher charges as if you want to get money in quick time in your wallet then you need to manage to pay higher charges as well as for me its not a big deal.
Yes it is a disadvantage to some extent. But countries with time will realize the fact that bitcoin will help them in eliminating unemployment and strengthening their economy and they will recognize them and will let all their people to access to internet so that they enjoy the miracles of bitcoin and meet their financial needs easily. 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
November 06, 2017, 11:50:36 PM
This time bitcoin is totally popular in some countries and some of them already banned the bitcoin, In my opinion the disadtanges of bitcoin is using this in illegal transaction because no one will know who are the owner of bitcoin and who used this. It can hide he identity of the user so they are dependent to use it either it is bad. This is the reason why the bitcoin is banned and has advantages compare to the other currency and to the fiat.
This answer i think summarize all about bitcoin whether its about the advantages and also the disadvantages, bitcoin create annonymous transactions its true but remember that all transaction still connected to a simple ledger. Whether some might call this disadvantages, i might as well call this advantages because this is the reasons bitcoin become so popular, the main disadvantages is because nobody can control bitcoin, just like a currency controlled and owned by a country. Bitcoin acts independently and thats the reason why so many countries ban it 
November 06, 2017, 11:26:49 PM
With the price reaching more than $ 7300, I think the bitcoin security factor becomes very important. in addition to security issues of course the transaction costs are immediately reduced because the current cost ranges 75k satoshi or more than $ 8.
November 06, 2017, 10:54:06 PM
The biggest disadvantages of Bitcoin for me:
1) when networks are overloaded with transactions, bitcoin wiring accumulates in the queue and slows down
2) the fee is increased at the expense of those people who charge a higher percentage for processing the transfer. It's like an auction.
3) fast bitcoin volatility.
1) when networks are overloaded with transactions, bitcoin wiring accumulates in the queue and slows down
2) the fee is increased at the expense of those people who charge a higher percentage for processing the transfer. It's like an auction.
3) fast bitcoin volatility.
November 06, 2017, 10:52:25 PM
The disadvantage of bitcoin is first bitcoin is untraceable because bitcoin can attract crime people can buy and sell illegal items wilth less risk of being traced by the authorities. Second sometimes its hard to trade because you cannot used credit card to buy bitcoin there are places that not accepting bitcoin as a payment. Bitcoin is still new bitcoin is only few years old we dont have decades of history yet.
November 06, 2017, 10:37:40 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 
for me i think only transaction fee and time of confirmation.btw bitcoin still be my favorite currensy. that so easy to use
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