Topic: What do you think are the biggest disadvantages of Bitcoin? - page 29. (Read 76728 times)
Bitcoin transaction speed is way too slow. check out our traditional bnks and compare the speed of transaction with that of Bitcoin , if they can match that , they we are close of being accepted officially globally. Everyone is not using Bitcoin now and the network is like this, imagine where by everyone floods it and what will happen.
In my opinion the biggest disadvantage of bitcoin is limited, limited by 21 million. The other disadvantage of bitcoin is the price of it; sometime the prices are so low that your investments are losing and still difficult to sell.
I think that major disadvange is that it's too slow.
Some of the other cons mentioned in the post like being used on black market etc apllies not only to bitcoin but to fiat money and gold at some point.
Volatility is natural for every new kind of assets, so it will probably change later.
Some of the other cons mentioned in the post like being used on black market etc apllies not only to bitcoin but to fiat money and gold at some point.
Volatility is natural for every new kind of assets, so it will probably change later.
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 
i think the number one disadvantage of bitcoin is it being alive only in the internet or online. yeah we know the bitcoin is really useful int he internet because it has faster transaction in every negotiation and have an expensive value. but what if there's no electricity ? we know that the basic requirement to acquire or to used the bitcoin is internet and we know that we can't access or used internet if have no electricity i hope that they make a plan or way to make bitcoin not only in the internet but in real life 
The biggest disadvantages bitcoin has for now I think is the slow time of confirmation of transaction. Sometimes it takes hours or more just because there are too many transactions but I really hope transactions would be faster soon so that we can enjoy bitcoin more. I think if bitcoin transactions are real time no matter how many people use it for transaction daily, people might consider it to be used as replacement for credit cards.
Slow confirmation times is one of them, but not really a major issue. When the demand/usage is increasing, the transaction fees also increase, which is one of the most major issues of Bitcoin. Thus, using it for transactions becomes unprofitable and unapprochable. Price volatility isn't really an issue, it's one of the "features" of cryptocurrencies. 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
Although the advantages of bitcoins are very promising, it still have some disadvantages. First, bitcoins have an unstable value, that's why some of investors hesitate to invest because they're afraid of losing. Bitcoins are also vulnerable, it's safe for now because these are still hard to trace but what if the time will come that hackers find a way to robbed our bitcoins. Another thing, bitcoins are not yet fully accepted by others, it only means that there's still a possiblity that it will become valueless 
The biggest disadvantages bitcoin has for now I think is the slow time of confirmation of transaction. Sometimes it takes hours or more just because there are too many transactions but I really hope transactions would be faster soon so that we can enjoy bitcoin more. I think if bitcoin transactions are real time no matter how many people use it for transaction daily, people might consider it to be used as replacement for credit cards.
I cannot say that this is the disadvantage of it. You already answered the reason behind the slow transaction is that there are too many transaction build up. I guess it is just normal even on remitting money abroad, it takes like hours before someone on the other part receives the money. So basically it is not really a disadvantage. It would be called disadvantage if you do not know how to be patient. Maybe you should atleast withdraw your money earlier before the time you need it.
i think the biggest disadvantages of bitcoin :
bitcoin can be controlled up and down in the floor . This is a difficulty of a trader .
Currently the price stands between 5k to 6k so it is easy for traders who don't expect much margin of profit.bitcoin can be controlled up and down in the floor . This is a difficulty of a trader .
Yes Bitcoin can be used for buying illegal drugs etc thats why Some Govt put it Ban.
It's a Cryptocurrency newly built for Digital people, so after 1 to 2 years we all can know about it, since in this year a lot of changes occured in prices.
The biggest disadvantages bitcoin has for now I think is the slow time of confirmation of transaction. Sometimes it takes hours or more just because there are too many transactions but I really hope transactions would be faster soon so that we can enjoy bitcoin more. I think if bitcoin transactions are real time no matter how many people use it for transaction daily, people might consider it to be used as replacement for credit cards.
i think the biggest disadvantages of bitcoin :
bitcoin can be controlled up and down in the floor . This is a difficulty of a trader .
bitcoin can be controlled up and down in the floor . This is a difficulty of a trader .
Cons of bitcoins:
1.Bitcoin's value is too volatile, it changes it's value every minute. But it's natural because it's a cryptocurrency.
2.Bitcoin is the black money that is used to buy on Darknet markets. Bitcoin can still be dangerous because some people using bitcoin to buy illegal drugs on Silk Road.
3. Many people thinks it's a fraud and illegal and used for online scamming.
1.Bitcoin's value is too volatile, it changes it's value every minute. But it's natural because it's a cryptocurrency.
2.Bitcoin is the black money that is used to buy on Darknet markets. Bitcoin can still be dangerous because some people using bitcoin to buy illegal drugs on Silk Road.
3. Many people thinks it's a fraud and illegal and used for online scamming.
The main disadvantage of bitcoin is that the price of bitcoins is fluctuating very rapidly and the the account of bitcoins can be hacked. Bitcoin needs a internet connection, unfortunately no internet no bitcoin.
A few words and phrases – fees, costs, and expenses. And I don't believe SegWit will be generating any progress on that make a difference (it may well even make it even worse). I hope the developers are thinking rationally about this before blindly implementing something that might hurt bitcoin in the lengthy operate.
I think a number of things.
These are just a few that come to mind right now.
- 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.
Additionally, not everybody has the access to bitcoin, some countries are banning as well. Also, people must have skills and should be alert when it comes to online scamming etc. Also one must have access to the internet. As well as it's worth is not stabilized.
i think the best disadvantages of bitcoin that is virtual coin , bitcoin can be mined eveywhere , so bitcoin don't be controlled strictly . people mine such
a much bitcoin that bitcoin will nerver be controlled .
a much bitcoin that bitcoin will nerver be controlled .
Bitcoin needs a internet connection,unfortunately no internet no bitcoin .And there is a possibility to be hacked.Many people have no idea about it,mostly some of them totally don't know and have doubt its existence.Bitcoin is also not used in some country,maybe this is one reason preventing of its popularity,this is one of bitcoin's disadvantage.The value of bitcoin still not stable.
.And there is a possibility to be hacked.Many people have no idea about it,mostly some of them totally don't know and have doubt its existence.Bitcoin is also not used in some country,maybe this is one reason preventing of its popularity,this is one of bitcoin's disadvantage.The value of bitcoin still not stable.
Bitcoin is simply too volatile and too complicated for non-technical users. For it to become mainstream it needs to be made much more simple to earn/buy and also to spend.
I believe that the biggest disadvantages are the very slow process of sending transactions and having to pay fees if you want it to be sent fast . fiat money doesn't suffer from that issue and this has to be fixed if bitcoin wants to be the top 1 currency in the world .
the biggest disadvantage of bitcoin which is not strictly controlled . i think it . Bitcoin was used too popular for goverments to controll amount of bitcoin
I think that at the moment the biggest did advantage is the fact the price volatility.
Until it won't be less volatile I can't see the currency going anywhere...
Until it won't be less volatile I can't see the currency going anywhere...
Jump to: