Topic: wtat are the biggest disadvantages of altcoin ? - page 2. (Read 461 times)
they are most times not stable and also most times they are scams .. this make peopl lose interest in them
in my opinion the most annoying omission that a quantum computer can unravel any cryptode ... and no one private key.
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.
you know, this year there are more than a dozen projects that simplify the use of cryptocurrency in everyday life. so you can improve the situation that will be looking at these projects and tell us which one we choose to use. what's my idea? 
Despite being the world's largest crypto currency, you still need to improve a few things like: Confirmation time, low market acceptance, there are still a few establishments where you can use bitcoins as a form of payment.
Lack of maturity, software upgrades that implement the Bitcoin protocol can bring difficult-to-fix failures, high price volatility which makes it difficult to use bitcoins as a unit of account, and carries a risk to those who use the currency as a value reserve , even for a short period of time.
With possibilities of Hackers and viruses, acquisition difficulty, buying bitcoins is still not trivial and involves certain risks, such as the possibility of a default on the part of the seller. Risk of obsolescence and legal uncertainty is still unclear what will be the position of the Brazilian State in the face of decentralized currencies.
Lack of maturity, software upgrades that implement the Bitcoin protocol can bring difficult-to-fix failures, high price volatility which makes it difficult to use bitcoins as a unit of account, and carries a risk to those who use the currency as a value reserve , even for a short period of time.
With possibilities of Hackers and viruses, acquisition difficulty, buying bitcoins is still not trivial and involves certain risks, such as the possibility of a default on the part of the seller. Risk of obsolescence and legal uncertainty is still unclear what will be the position of the Brazilian State in the face of decentralized currencies.
Many facts are preventing Bitcoin to be accepted as a payment system is that firstly it needs an internet connection for your transaction to get process, it needs time, the transaction may be delayed due to overload, the price of bitcoin is not stable, maintaining & securing a wallet is a techie at least for a layman. I think there must be a very easy process if need cryptocurrencies to get accepted as a form of payment globally. I would suggest you go through the white paper of a kora network they are developing a financial infrastructure project that enables users to send KNT tokens to anyone in the world just by using a simple phone without any internet connection via SMS/USSD and is based on the blockchain.
bitcoin is not going to be used as the primary means of payment wherever it is. the cause of this is of course due to the fluctuation of the bitcoin and this will really give you problems if used to means of payment.
At present, most tokens still have a problem, so the distribution of tokens is too centralized.
And people just want to profit by speculating in tokens.
And people just want to profit by speculating in tokens.
As for me, the thing that sometimes depresses me is the highest volatility of all altcoins. It is never possible to foresee what will happen on the market and therefore you can make a mistake and sell or buy alts at a wrong time.
The biggest disadvantage of all altcoins it's their capitalization. It is really small and thanks to it a couple of billionaires can do with that market whatever they want. That's a big issue i think
Biggest disadvantages would be these altcoins are going to react to bitcoin's movements because these altcoins are commonly traded with bitcoin which is why these altcoins are somehow related to bitcoin's movements,for example bitcoin has gone wildly,regardless if its going up or down these altcoins are going to bleed and the only time these altcoins will grow is when bitcoin's value has gone sideways.
As far as i know the biggest disadvantage of altcoins are alts are being traded to bitcoin most commonly giving those altcoins no chance but to depend their price movements based on bitcoin's which is why these altcoins are never going to be independent to the market.Another thing is the market's volatility which is why most of the altcoins are going to bleed whenever the market wants to.
The only disadvantage I see in Altcoin is that it affected with the movement of bitcoin when bitcoin goes down Altcoin also get affected with that and when it goes up they also get affected with that.
I think one of major disadvantage is how thier prices are unstable and it might causes major loses in the economy, maybe if there would be one and only one type of coin it would change but i don't think this will ever happen, as well i don't belive that they will ever be stable.
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.
My opinion, the biggest drawback of crypto currency, which prevents mass introduction, is the lack of a simple and natural interface for interacting with existing software products. It is impossible to simplify the cryptographic features of blockchain technology, it is impossible to single-mindedly teach all people the subtleties of transactions and the generation of blocks in the blockchain system. Therefore, the main problem, in my opinion, is in the programs providing interaction between users and the blockchain system. The problem is in the interfaces between the blockchain and the end user. For a better understanding of the problem, I can give an analogy to the example of the browser: if browsers would represent only terminals with a command line, Internet users would be only technically trained geeks
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.
Bitcoin as a payment might not be feasible until it reach 1000tx/sec or more than visa
At the moment crypto can use fiat-crypto gateway, many working project about this at the moment
At present, most tokens still have a problem, so the distribution of tokens is too centralized.
And people just want to profit by speculating in tokens.
And people just want to profit by speculating in tokens.
As for me, the thing that sometimes depresses me is the highest volatility of all altcoins. It is never possible to foresee what will happen on the market and therefore you can make a mistake and sell or buy alts at a wrong time.
Like others have said, volatility one of the main reasons why btc and other altcoins aren't being accepted in many markets. Look at Steam, one of the largest digital distribution platforms out there. They stop accepting btc due to the high fees and volatility. Once volatility goes down and a large company like Amazon accepts cryptocurrency, expect other companies to join in and the market cap will be in the trillions.
The other media here in Philippines are controlled by corrupt politicians to spread wrong news about btc .. They should correct their presentation about it because many people think that bitcoin is scam which is totally not.
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.
Drawbacks? I would rather tell the main thing why its being prevented to be accepted because its a decentralized thing which cant really be controlled.Would you suffice that feature just for you to make a coin which will patch up that flaw and community would took consideration into your coin? It wont really be an easy thing. Have you seen how many coins in the market trying out to follow bitcoin.?If yes then you know what are the things on your mind should gonna do.
The restrain of investors especially big investors to buy bitcoin is also the huge disadvantage due to its volatility. Along with lack of knowledge of others regarding cryptocurrency and government control. And the misbelief of other people that bitcoin is scam due to wrong news.
In short - volatility, insfrastructure and user experience.
These long addresses should be replaced with something user friendly. I can't believe I haven't made a mistake for half an year when transacting.
Volatility - merchants can't price goods in something that changes 10% in a day. Most businesses have 10-20% margins of profit.
For alts with smaller volumes volatility is ever bigger.
These long addresses should be replaced with something user friendly. I can't believe I haven't made a mistake for half an year when transacting.
Volatility - merchants can't price goods in something that changes 10% in a day. Most businesses have 10-20% margins of profit.
For alts with smaller volumes volatility is ever bigger.
Whoa I really love this perspective thank you for sharing!
I think generally fear of the unknown is also making a lot of people apprehensive - though they are seeing the benefits more and more.
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