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Topic: What do you think are the biggest disadvantages of Bitcoin? - page 85. (Read 76758 times)

sr. member
Activity: 378
Merit: 250
BULL RUN until 2030
perhaps the biggest disadvantages to the current bitcoin is, the amount that has limits. Well, if bitcoin always have the amount increased, perhaps it would be very nice to be distributed throughout the world. maybe so, bitcoin will be well received around the world.
It's not the disadvantage, in fact it's the advantage since there is not inflation like fiat. One of the reasons why people use and hold bitcoin is the value will grow overtime.
hero member
Activity: 2170
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Reward: 10M Shen (Approx. 5000 BNB) Bounty
perhaps the biggest disadvantages to the current bitcoin is, the amount that has limits. Well, if bitcoin always have the amount increased, perhaps it would be very nice to be distributed throughout the world. maybe so, bitcoin will be well received around the world.
sr. member
Activity: 714
Merit: 250
I just didn't found any bitcoin disadvantage yet. Me as user/customer is get so many profit so I think bitcoin is better than other currency.
legendary
Activity: 1386
Merit: 1020
DGbet.fun - Crypto Sportsbook
The biggest disadvantage of the bitcoin is that it is not distributed fairly. Therefore it is not easy for people to accept it and use it. Should it be distributed fairly, people would be more apt to adopt it.
Its not really an advantage on bitcoin itself regarding on its adoption since its really easy to understand on what is bitcoin. Features should be pointed out regarding on bitcoin and i think the disadvantage of bitcoin is its anonymity it may have advantages for some but most part of it would be negative since people would really use it for illegal services.
legendary
Activity: 1092
Merit: 1000
What do you think are the biggest disadvantages of Bitcoin?

1. Controlled by Chinese Mining Pools thru a 51% attack scenario
   (They can block any transaction or rewrite the last 12 hours of BTC transaction history on a whim.)

2. Price has went too high, Completely Lost the Micro-payment potential

3. 1 mb block size is under used and BTC core is trying to implement segwit & LN to steal transaction fees from the miners with LN (offchain transactions)
    (Internal Power Struggle between the BTC core & Chinese Mining Pools)

4. Miners bills for ASICS & Electricity will keep increasing while there block reward cuts in half every 4 years

5. PoW will eventually be too costly too maintain , it is what happens when you design a system with a perpetual arms race, eventually it is not worth it.
    (Home Miners gave up years ago.) PoW Systems become unsustainable over time.

6. Not enough coins available for a global population.

7. Fake trading volume on Chinese exchanges to artificially inflate the price.


 Cool
hero member
Activity: 868
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The biggest disadvantage of the bitcoin is that it is not distributed fairly. Therefore it is not easy for people to accept it and use it. Should it be distributed fairly, people would be more apt to adopt it.
hero member
Activity: 672
Merit: 500
Hm in my point of view may be the some dis advantage of bitcoin are :
1. Time of bitcoin transactions, bitcoin sometimes have delayed when we sent few amount of btc to other address. If That's happpen The confirmation can take more than one hour. But this problem always would be fixed by developers.
2. The fluctuations of bitcoin's price. Some part of bitcoin's user make this a problem because sometimes the price of bitcoin go down unpredictably. For beginners maybe will panic. But it is will be a good situation for professional trader indeed. They can take a lot of profit from fluctuations of bitcoin.
legendary
Activity: 3318
Merit: 1133
Leading Crypto Sports Betting & Casino Platform
I still believe that its advantage is its unpredictable rise and fall. With that if you know what you are doing then you could certainly make a lot of profit with just a right decision to where it will move.
hero member
Activity: 882
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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
The big disadvantage in Bitcoin is only its configuration system which always disturb us some time deeply .
Allover I think nothing in Bitcoin that can be bad or can be consider as an disadvantage of Bitcoin .
sr. member
Activity: 379
Merit: 250
Bitcoin has many advantages, which I do not say, say it a shortcoming. Is dealing with transactions too slow. It can only handle seven transactions a second, which seriously restricts its large-scale application.
hero member
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Rollbit.com ⚔️Crypto Futures
One of the disadvantages of bitcoin is that it leaves a money trail if a mixer or other means are not used and when you speak of bitcoin publicly people usually associate it with illegal activities unlike most altcoins out there
legendary
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Undeads.com - P2E Runner Game
in everything in there are always advantage and disadvantage over new things coming up so the biggest disadvantage of bitcoin is that most people don't really accpect it as means of payment because bitcoin is a new currency to them and most people are yet to know bitcoin as are a currency for this reason i think this is the biggest disadvantage that bitcoin has for the now.
I can get your point, I think you mean is bitcoin disadvantage is not forever. We know that most people in the worlds are yet to know bitcoin as a currency but bitcoin dissemination is good enough so more people will know about bitcoin then accept it as payment. I think the biggest disadvantage is only for bank, becouse if all of people use bitcoin, they do not need bank anymore, do they?.

Still a big no.

Do you think bitcoin can do ALL bank services around? Meaning all in all? Then tell me how it is possible in bitcoin WITHOUT a company that will do the things that banks can do? If all people will use bitcoin, for sure there will be a company that will take care of what banks can do. Banks is not about money, there are useful things that bank can do.

Also how about the customer concern in case of a fraud? How will people will deal to that if ever there's no banking system and only bitcoin. A lost money is a lost forever?
hero member
Activity: 672
Merit: 500
in everything in there are always advantage and disadvantage over new things coming up so the biggest disadvantage of bitcoin is that most people don't really accpect it as means of payment because bitcoin is a new currency to them and most people are yet to know bitcoin as are a currency for this reason i think this is the biggest disadvantage that bitcoin has for the now.
I can get your point, I think you mean is bitcoin disadvantage is not forever. We know that most people in the worlds are yet to know bitcoin as a currency but bitcoin dissemination is good enough so more people will know about bitcoin then accept it as payment. I think the biggest disadvantage is only for bank, becouse if all of people use bitcoin, they do not need bank anymore, do they?.
hero member
Activity: 966
Merit: 515
One of the world's leading Bitcoin-powered casinos
It does not have any disadvantage to me
Also for me , It has no disadvantage . But some time it's technical system problem generate a huge annoying disadvantage for Bitcoiner to make deals in Bitcoin .
I found many times that the block of the blockchain became unresponsive and transactions goes on 2-3 days unconfirmation .
Which should a main thing to be remove from Bitcoin transaction system
newbie
Activity: 37
Merit: 0
It does not have any disadvantage to me
hero member
Activity: 588
Merit: 500
Every new thing has it's own positive and negative thing. With respect to Bitcoins, it has lots of positive features than the previous type of currencies we have used. Although there is some fear about the transaction fees and delaying in confirmation because of many reasons like increased traffic from some websites, the major negative point is its instability. And another thing is that most of the people don't take it as a regular currency, they keep the savings in BTC and pray to get the rate increased.  Undecided
i do not think that these are such big problems, these problems can be solve easily with the passage of time. to me the bit problem is that still not a sing government consider bitcoin as legal currency. i thik that problem should be solve in priority basis.
member
Activity: 100
Merit: 10
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

SO you feel you are going to make the blockchain that kills btc? Are you writing it from scratch?
sr. member
Activity: 308
Merit: 250
the biggest disadvantages of bitcoin is must wait long time to get confirmation for our transaction
but it's depends on our fees and size of the transaction but if sometimes if we already give huge fees we still wait long time for confirmation Sad
also the price fluctuation but I think it's not disadvantages lots of us enjoy with it because we can get profits from it
but sometimes it's not good for who's get lose from the bitcoin price which is always fluctuative

Yeah, if bitcoin's price suddenly drops some big amount all of us would be definitely disappointed. We don't want that to happen. We trust and use bitcoin because of its continuous rising price but no one can tell until when it is. And i agree also that the transactions sometimes takes too long even if we pay huge fees. It is a very big hassle if we really need that money immediately.
hero member
Activity: 2856
Merit: 667
Could be the price that is being manipulated, we cannot ensure our investment will still be valuable in the future. I am afraid of that to happen, hence i only put what I can afford to lose.
I think it's pretty normal to see a manipulate price because there are whales in the crypto, the best option to do is to read what they are doing and I am pretty sure they will not dump because it's in investor's mind to continue to earn and make themselves richer.
sr. member
Activity: 378
Merit: 250
BULL RUN until 2030
Could be the price that is being manipulated, we cannot ensure our investment will still be valuable in the future. I am afraid of that to happen, hence i only put what I can afford to lose.
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