Topic: What do you think are the biggest disadvantages of Bitcoin? - page 90. (Read 76758 times)
In my opinion the main disadvantage of bitcoin is its usual volatility. In ordinary currencies losing 1% value in a single day can generate high pressure in local markets, but we can see in the bitcoin market frequent oscillations of 10% or more, and this mean a serious problem to use it as an ordinary currency.
I think for almost all of the users are happy with bitcoin and they want to use bitcoin as it is but some of the people are claiming that the confirmation timing is a problem for them to do instant deals for their purchases at their stores. For online shopping it is not a problem but if it is started to be used in offline stores then it will e hard for to wait for sometime in the store for the confirmation of the transactions.
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 
Mainly from what i think, bitcoin isn't being accepted in mainstream because of the high transaction times and sometimes network overload called spam attacks, if this problem gets solved, it will be good.
the reason why bitcoin has not been used as an international currency is that because of the way circulates around the internet, the fact that your bitcoin wallet address changes every day makes it practically impossible to trace down where the bitcoin is going , and the fact that bitcoin is so unstable in terms of price makes investors afraid to invest in it, and also using bitcoin is anonymous which opens up a lot of possibles illegal action
that is why drug dealers and hackers use it on the black market.
that is why drug dealers and hackers use it on the black market.
The biggest disadvantage of bitcoin for me is its not that known to many people even if it has a huge value. People around me don't know what it is. They think i'm crazy and the money i earn from bitcoin is from bad things. I wish many people will know about it and people around me regret what they've said.
Biggest disadvantage? Being a technical asset and needing to learn some important facts before keeping it whereas in cash/fiat you don't need to really understand everything before you use t. Because of this, many people are not reallb keeping up into using bitcoin, hence slowing down the potential adoption growth.
I think the biggest disadvantage Bitcoin have is that it is used for too many illegal activities. The are no laws or regulations which protect bitcoim users from criminal, they have to defend themselves against criminals. And because of no government protection, many bad people use Bitcoin to build a ponzi scheme investing project in order to steal investors's money
That's actually a good thing. If you don't protect yourself, people would take advantage of you. You have to adopt the environment. Otherwise, you'll get scammed every time you try to have a transaction with someone. This way, we have to educate ourselves which is a really good thing imo. It makes you have the instinct of not trusting someone too much in the bitcoin world and in real life as well. It makes you smarter when having transactions.
I think for now the biggest problem is block size that doesn't allow miners process so many transaction faster which lead to higher fees if you want faster confirmation. This problem could make bitcoin look unattractive to new users with high fees and may stop or reverse global adoption, investment, development, and support.
In my opinion, the problem is that miners can not solve all transaction in a day. Let's think about the future when people around the planet using Bitcoin, how can miners manage to confirm every transaction in a week ? Will Bitcoin still be fast as it is at present ? There are to many questions need to some from this problems
I think the biggest disadvantage Bitcoin have is that it is used for too many illegal activities. The are no laws or regulations which protect bitcoim users from criminal, they have to defend themselves against criminals. And because of no government protection, many bad people use Bitcoin to build a ponzi scheme investing project in order to steal investors's money
That's actually a good thing. If you don't protect yourself, people would take advantage of you. You have to adopt the environment. Otherwise, you'll get scammed every time you try to have a transaction with someone. This way, we have to educate ourselves which is a really good thing imo. It makes you have the instinct of not trusting someone too much in the bitcoin world and in real life as well. It makes you smarter when having transactions.
I think the biggest disadvantage Bitcoin have is that it is used for too many illegal activities. The are no laws or regulations which protect bitcoim users from criminal, they have to defend themselves against criminals. And because of no government protection, many bad people use Bitcoin to build a ponzi scheme investing project in order to steal investors's money
I think thats a problem but for me its not the biggest, We cant blame satoshi nakamoto for making bitcoin anonymous, He is the reason why we are in here now, Discussing as anonymous people. What's preventing Bitcoins from being accepted as mainstream payment forms?
people are used to their old ways of doing things, they don't usually want to change and give up using banks and third parties to do business. besides bitcoin is still new and it is not even capable of handling mainstream payment. we are having trouble handling transactions as it is, and apparently consensus can not be reached anytime soon.
The biggest disadvantage of bitcoin for me is its anonymous transaction. Thieves or terrorists in the deepweb that uses bitcoin will be difficult to track. Also hyips or ponzis sites owners is difficult to track because of that feature. They just create unlimited numbers of those sites to scam the bitcoin of people.
Well, I guess it's not a disadvantage otherwise bitcoin will not be supported by it's supporters. It's the main attraction of the adopters why they are using bitcoin because the want to be anonymous online so they can do whatever they want to do with their bitcoins. That is what you called complete freedom and only bitcoin offers such freedom.Are you kidding me? It's been pretty well established that Bitcoin isn't that anonymous and yet, rather pseudonymous. To be honest, the whole notion of saying the "government will never allow Bitcoin because DNM's will use it" is ridiculous. I can imagine they absolutely love Bitcoin primarily because of it's traceable blockchain.
There's a reason why you see people say they have issues with exchange sites like coinbase due to their Bitcoin "taint".
I think the biggest disadvantage Bitcoin have is that it is used for too many illegal activities. The are no laws or regulations which protect bitcoim users from criminal, they have to defend themselves against criminals. And because of no government protection, many bad people use Bitcoin to build a ponzi scheme investing project in order to steal investors's money
bitcoin biggest drawback today is the rapid price movement that is always up and down. Therefore, many people are still scared of investing in bitcoin.
The movement of bitcoin price is not a reason that people make it as a downside to this currency. Its really an act of advantage in bitcoin to this small traders of buying and selling. The most annoying here is the long confirmation that takes 5-8 before it got confirmed once.The issues with transaction times comes into play when you think about how long 5-8 minutes really is when you're trying to buy something at a store. You don't want to wait for a long time for your transaction to go through; you want to buy and go.
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bitcoin biggest drawback today is the rapid price movement that is always up and down. Therefore, many people are still scared of investing in bitcoin.
The movement of bitcoin price is not a reason that people make it as a downside to this currency. Its really an act of advantage in bitcoin to this small traders of buying and selling. The most annoying here is the long confirmation that takes 5-8 before it got confirmed once.
bitcoin biggest drawback today is the rapid price movement that is always up and down. Therefore, many people are still scared of investing in bitcoin.
The movement of bitcoin price is not a reason that people make it as a downside to this currency. Its really an act of advantage in bitcoin to this small traders of buying and selling. The most annoying here is the long confirmation that takes 5-8 before it got confirmed once. 
bitcoin biggest drawback today is the rapid price movement that is always up and down. Therefore, many people are still scared of investing in bitcoin.
Volatility doesn't scare me. The only unnerving thing is transfers between own wallet and others can run stuck for a half day, or even more. Transaction relyability, damit.
A currency cannot afford to be unreliable.
bitcoin biggest drawback today is the rapid price movement that is always up and down. Therefore, many people are still scared of investing in bitcoin.
it is a hard to spread over the world, as not everyone understands this kind of technologies easily. as well, bitcoin would have to use a lot of electricity to complete proof of work to get bitcoins, which are limited.
one more thing,
Yes, nowadays transactions are taking a lot of time to get confirmed, and it is not more we can say that Bitcoin transactions are faster than a normal traditional way of sending money. Sometimes it even takes more than 24 hours. It is most important thing need to fix and attract more people into bitcoins world.
because the block time between is theoretically 10 minutes but actually variable as the block size constrained the confirmation speed.
one more thing,
waiting time on transactions and the price instability
Yes, nowadays transactions are taking a lot of time to get confirmed, and it is not more we can say that Bitcoin transactions are faster than a normal traditional way of sending money. Sometimes it even takes more than 24 hours. It is most important thing need to fix and attract more people into bitcoins world.
waiting time on transactions and the price instability
Yes, nowadays transactions are taking a lot of time to get confirmed, and it is not more we can say that Bitcoin transactions are faster than a normal traditional way of sending money. Sometimes it even takes more than 24 hours. It is most important thing need to fix and attract more people into bitcoins world.
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