What is big problem in using of bitcoin - page 37.

mark coins

hero member

Activity: 910

Merit: 1000

Quote from: cokkapaga on July 04, 2016, 03:45:06 PM

I do not have issue with bitcoin
for me Bitcoin is very helpful
we can get money with bitcoin and easy to transaction with poeple in the internet

Yeah even I don't find any problem with bitcoin at a moment and it is only helping me and I am very much satisfied with all the features that it holds.

cokkapaga

legendary

Activity: 867

Merit: 1000

I do not have issue with bitcoin
for me Bitcoin is very helpful
we can get money with bitcoin and easy to transaction with poeple in the internet

camelson

copper member

Activity: 1386

Merit: 1000

Quote from: guddu raj on August 24, 2015, 04:01:32 AM

what problem do you have in bitcoin.

No not much, i dont have any problem in using bitcoin online, some times few site do not have btc payment method for that i can able to convert them into $ online to my credit card and that i can do shopping from any site. and if you talk about offline same is the case here i can convert them to fiat money any time and use them. So until now i have no issue with bitcoin.

streazight

hero member

Activity: 910

Merit: 502

Quote from: Oralmat on July 04, 2016, 09:01:49 AM

Quote from: 2double0 on June 27, 2016, 12:40:10 AM

You are still exposed to lots of attacks and probably, identity hacks when such attacks enter the servers of big exchanges that need you to verify your KYC documents with them. This is one of the biggest problems I face with bitcoins.

Bitcoin does not have any big probelm but the only fear of bitcoin is the loss of money which can be due to loss of Wallet seed or someone hacking into the wallet and most fearable being Online wallet site run away will all the BTCs.

Hacking into a wallet is somewhat a serious problem but it would take a superior pro to be able to do that.

I get what 2double0 meant though. Bitcoin itself is safe as there is currently no way to be able to hack into the blockchain and insert a fake transaction. However, exchange platforms are not safe from attacks and might have access to our wallets from that certain exchanger.

Oralmat

hero member

Activity: 588

Merit: 500

Quote from: 2double0 on June 27, 2016, 12:40:10 AM

You are still exposed to lots of attacks and probably, identity hacks when such attacks enter the servers of big exchanges that need you to verify your KYC documents with them. This is one of the biggest problems I face with bitcoins.

Bitcoin does not have any big probelm but the only fear of bitcoin is the loss of money which can be due to loss of Wallet seed or someone hacking into the wallet and most fearable being Online wallet site run away will all the BTCs.

PokerFace3

hero member

Activity: 700

Merit: 500

Quote from: Sharma on July 04, 2016, 05:46:12 AM

The main problem I have encountered with the bitcoin blockchain is how damn slow transactions can get when the blocks are lagging behind and the miners are unable to find any valid blocks.

It can be very frustrating to wait for an hour before your deposit arrives at some site.

I agree the main problem is the delay in transactions. The average time it takes for a bitcoin transaction to be verified is now 43 minutes, and some
transactions remain unverified forever. This is due to how transactions are processed in the blockchain. This has become the problem for every bitcoiners.

Sharma

legendary

Activity: 1092

Merit: 1000

GATCOIN : The New Currency Of Digital Marketing

The main problem I have encountered with the bitcoin blockchain is how damn slow transactions can get when the blocks are lagging behind and the miners are unable to find any valid blocks.

It can be very frustrating to wait for an hour before your deposit arrives at some site.

Cyaren

sr. member

Activity: 294

Merit: 250

I think the biggest problem of using it is miner commision,at least for me.Of course you cant step through it without paying it
but well that's the life.Security is fine if you know how to do it.Big problem is also BTC usage to illegal activities (money laundering,drugs etc.)

streazight

hero member

Activity: 910

Merit: 502

Quote from: SquallLeonhart on June 29, 2016, 09:06:09 AM

Quote from: escrowboy on June 29, 2016, 08:59:54 AM

Quote from: ?? on ??

Confirmation time if the merchant doesn't accept zero confirmation.
So, i also can say block size is also big problem when i use bitcoin.

I think confirmation time can be shorten if you use a higher priority fee, well it will require you to spend higher in fee but the result of that will give you a shorter confirmation time. So I think it still your decision what you're going to use, if you use lower fee but longer time or higher fee but shorter time to confirm.

We should not worry even if its taking time in confirmation that issue can be resolved in future, the only problem I see at a moment is price not getting higher as per the expectations.

It is said that the value of bitcoin is somewhat undervalued, but I don't really mind if the price goes stable with little fluctuations because it's a good profit for us traders.

What's concerning me is that North Carolina has been looking to passing a bill of trying to get a way of centralizing bitcoin or something.

coin_gambler

sr. member

Activity: 462

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: PokerFace3 on June 29, 2016, 08:10:00 AM

In my opinion many people are just getting bad concepts about bitcoin more then good things about it as its a most popular currency in the darkweb and in some country its illegal too which makes the person more serious to think before using it !

i think you are right, media tries to make bitcoin look like it is evil all the time thus a lot of people decide not to start using bitcoins as they are afraid of getting into trouble i think

for me the biggest problem using bitcoin is that one day it might become way less valued than they are right now, that would definitely be a bad thing for me as i would lose money

SquallLeonhart

legendary

Activity: 2464

Merit: 1102

Quote from: escrowboy on June 29, 2016, 08:59:54 AM

Quote from: ?? on ??

Confirmation time if the merchant doesn't accept zero confirmation.
So, i also can say block size is also big problem when i use bitcoin.

I think confirmation time can be shorten if you use a higher priority fee, well it will require you to spend higher in fee but the result of that will give you a shorter confirmation time. So I think it still your decision what you're going to use, if you use lower fee but longer time or higher fee but shorter time to confirm.

We should not worry even if its taking time in confirmation that issue can be resolved in future, the only problem I see at a moment is price not getting higher as per the expectations.

escrowboy

full member

Activity: 154

Merit: 100

Quote from: ?? on ??

Confirmation time if the merchant doesn't accept zero confirmation.
So, i also can say block size is also big problem when i use bitcoin.

I think confirmation time can be shorten if you use a higher priority fee, well it will require you to spend higher in fee but the result of that will give you a shorter confirmation time. So I think it still your decision what you're going to use, if you use lower fee but longer time or higher fee but shorter time to confirm.

trickshot22

sr. member

Activity: 504

Merit: 250

Quote from: 2double0 on June 27, 2016, 12:40:10 AM

You are still exposed to lots of attacks and probably, identity hacks when such attacks enter the servers of big exchanges that need you to verify your KYC documents with them. This is one of the biggest problems I face with bitcoins.

uhmm attacks with bitcoin? big exchanges that usually have your id has tons of ids so even if the information gets leaked then i doubt that the hacker will be interested especially in your identity

my problem using bitcoins is that its price might be stable some times, i usually want the price to fluctuate wildly as it is much more interesting to seek the news about bitcoin then

poplolnman

legendary

Activity: 1442

Merit: 1008

Quote from: PokerFace3 on June 29, 2016, 08:10:00 AM

In my opinion many people are just getting bad concepts about bitcoin more then good things about it as its a most popular currency in the darkweb and in some country its illegal too which makes the person more serious to think before using it !

it's because media make bitcoin looks so bad starts from an issue that bitcoin used as terrorist fundsource due its anonimity and untraceable . also some people / most people in dark marketplace use bitcoin as their currency to run their illegal business so when common people see in this side sure they would scared .

PokerFace3

hero member

Activity: 700

Merit: 500

In my opinion many people are just getting bad concepts about bitcoin more then good things about it as its a most popular currency in the darkweb and in some country its illegal too which makes the person more serious to think before using it !

2double0

legendary

Activity: 2618

Merit: 1105

You are still exposed to lots of attacks and probably, identity hacks when such attacks enter the servers of big exchanges that need you to verify your KYC documents with them. This is one of the biggest problems I face with bitcoins.

novemberwoah

hero member

Activity: 896

Merit: 500

Quote from: chineseprancing on June 26, 2016, 10:22:20 PM

Quote from: uname on June 26, 2016, 09:18:39 PM

Quote from: Daniel91 on June 26, 2016, 02:56:48 AM

I think that biggest problem with Bitcoin is that we are not recognized by law in the most countries in the world.
It means, if someone stole my Bitcoin, I can't report it as crime because in my country Bitcoin isn't money or financial asset.
Even if I will try to explain someone what is Bitcoin, I'm not sure if they will understand or care.

Lol although bitcoin have laws I think the police will not respond to your report. bitcoin transactions, because the track is something very difficult because bitcoin is very anonymous

Nope here in our country bitcoin isnt anonymous no more because our wallets required our identity card because it is on our government laws

Yes but if your identity is maintained and kept confidential so that no single person who knows I think it's still safe. Because I believe bitcoin wallet will not open your identity and still be safe.

cjmoles

legendary

Activity: 1176

Merit: 1017

Quote from: hermanhs09 on June 26, 2016, 07:57:00 PM

Quote from: cjmoles on June 26, 2016, 03:34:29 PM

I think that the biggest problem many people have with bitcoin is the amount of fraud that occurs around the technology. To many people in the general public, it is perceived that extraordinary computer-based knowledge is required to insure that their "money" is secure within the bitcoin environment. I don't know how this general perception could possibly be remedied if the technology continues to attract those who conspire to exploit the bitcoin beginners....

Exploit it to the beginners is what you say? I think that people that are ignorant should just think about what they do and learn about it before they try to stick their heads into things without knowing what the thing is. The biggest problem with bitcoin is all the ignorant goldfish that come on this site looking to get a free btc from a stranger that they have never met and never talked to.

Yes, you're right and that's why I tell everyone who asks about how to adopt bitcoin to stay away from it unless they are very proficient in the use of computers and are very security minded. Bitcoin isn't meant for the general public and I would not advise them to invest their money in it unless they have superior computer knowledge and training. Bitcoin is too dangerous an investment for the general public; it is only meant for technologically trained individuals and not the common consumer. There are other technologies available that are retailer friendly and much easier for the general consumer to understand, such as ApplePay, Dwolla, and some of the more innovative alternate digital protocols. I agree with you one hundred percent; the problem with bitcoin is that too many noobs are trying to adopt it! We should discourage them.

chineseprancing

hero member

Activity: 630

Merit: 500

Quote from: uname on June 26, 2016, 09:18:39 PM

Quote from: Daniel91 on June 26, 2016, 02:56:48 AM

I think that biggest problem with Bitcoin is that we are not recognized by law in the most countries in the world.
It means, if someone stole my Bitcoin, I can't report it as crime because in my country Bitcoin isn't money or financial asset.
Even if I will try to explain someone what is Bitcoin, I'm not sure if they will understand or care.

Lol although bitcoin have laws I think the police will not respond to your report. bitcoin transactions, because the track is something very difficult because bitcoin is very anonymous

Nope here in our country bitcoin isnt anonymous no more because our wallets required our identity card because it is on our government laws

uname

sr. member

Activity: 420

Merit: 250

Quote from: Daniel91 on June 26, 2016, 02:56:48 AM

I think that biggest problem with Bitcoin is that we are not recognized by law in the most countries in the world.
It means, if someone stole my Bitcoin, I can't report it as crime because in my country Bitcoin isn't money or financial asset.
Even if I will try to explain someone what is Bitcoin, I'm not sure if they will understand or care.

Lol although bitcoin have laws I think the police will not respond to your report. bitcoin transactions, because the track is something very difficult because bitcoin is very anonymous

Topic: What is big problem in using of bitcoin - page 37. (Read 38684 times)