What is big problem in using of bitcoin

[croutonhexagon]

There is a fear that government could ban the use of bitcoin so If it happens then our all bitcoin will go in water. And there is so much fluctuation in cryptocurrency so anytime their rate could change and if the price don't rise again then you can think what's going to happen.

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[deisik]

This is far from being an ideal solution though, at least for now. I too was really excited when I heard about Bitcoin payment cards the first time. The problem is that the fees are quite bad, paying $2 - $4 per transaction is not something I would want to do, then you have loading fee and I think most charge a service fee every month too. Would be great if they implemented an NFC payment system like ApplePay while keeping the fees well under a dollar per transaction 

I was considering the issue from a technical point of view, obviously. What you mention is not related to Bitcoin as such (high monthly payments, hefty transaction fees, etc). I think debit and credit plastic cards when they had been first introduced were also quite expensive to consumers until real competition kicked in. And now you can have payment cards with no fees altogether...

In my view, it is only a matter of time till the first totally free (free as beer) Bitcoin payment card is issued by some Bitcoin start-up

How are the fees involved in making Bitcoin payments not related to Bitcoin?? a solution has to be whole package. If you are considering it from a 'technical' point of view then regular debit/credit cards have already reached that level of efficiency, there is no need to switch to Bitcoin. Sure the fees will probably go down with time that's why I said "not an ideal solution for now" at the start of my comment.

You seem to be badly misinterpreting my post (hopefully, not intentionally) as well as forgetting what you have been challenging yourself. First, I said that the fees charged due to payments with Bitcoin payment cards are not related to Bitcoin itself. Since this is exactly what you argued ("the fees are quite bad, paying $2 - $4 per transaction"), it is clear that you referred to such fees only and not the fees collected by miners, while now you are talking about fees in general ("the fees involved in making Bitcoin payments"). Second, I specifically emphasized ("[these fees are] not related to Bitcoin as such") that they are, unlike transactional fees charged by miners, not part of Bitcoin, or Bitcoin protocol if that makes it easier for you to understand...

If you can't see the difference, then you are pretty much on your own here

Dude are you even serious right now? So according to you, when I say "fees involved in making Bitcoin payments", in the context of the discussion I would be referring to transaction fees?? I highly suggest you re-read our entire conversation before deciding that you are indeed right. This is my last comment on the topic.

I was not replying to your post in the first place (this is not to say that you may not chime in, of course). In this way, I gather that it is mostly you who should first read the whole discussion from where it started, not just our discussion. Moreover, since I'm considering the issue of spending bitcoins in real life from a technical point of view, i.e. the easiness of spending (or lack thereof), you simply can not claim that there is no need to switch to Bitcoin (as you do in your reply). By claiming so, you are essentially leaving the scope which is encompassed by such a view. In other words, you are moving to considering the issue from an economic angle (whether it is worth to switch to Bitcoin), and that would be quite another story (which simply can't be comprehensively investigated within the technical scope). It would be "out of scope", so to speak, beyond the question of how fast and conveniently you can pay with bitcoins. I'm sorry that you can't see this other difference either and the overall erroneousness of your approach...

In any case, I sincerely hope you will actually refrain from commenting on this topic any further

[BADecker]

Taxes. You can use Bitcoin to buy and sell all you want. But if you are a business, you have to pay your taxes on Bitcoin as well as fiat. So, might as well use fiat. Why waste time with all the extra record-keeping that you would need for Bitcoin.

[sourris01]

Taxes. You can use Bitcoin to buy and sell all you want. But if you are a business, you have to pay your taxes on Bitcoin as well as fiat. So, might as well use fiat. Why waste time with all the extra record-keeping that you would need for Bitcoin.

Then it is better to engage in trade and make a difference in bitcoin. And thus evade taxes. Actions same track is not possible.

[dharkmadder]

The biggest problem I had with bitcoin till this current time is the slow confirmation time particularly when there are stress tests or whatever you call them, These are not common right now anyway, But other than slow confirmations "which allot of sites require before you are credited" I can't think of any other weakness.

[ashiqdey]

Since bitcoin is decentralized do government could easily ban bitcoin our country and then all our bitcoin would get stucked in wallet for lifetime and losing a single penny of hard earned money is so painful that we can hold the pain. And also while buying and selling bitcoin there is risk of getting scamed so obviously bitcoin wallet is much much secure but buying , selling, investing is all full of risk and we should do only when we know the person  And we have trust on the person with whole we are dealing with bitcoin.

[thend1949]

Bitcoin problem can be that bitcoin transactions are slow sometimes and can get stuck. Other major flaw is that we can't really pay anywhere with it yet but that will change and isn't really the fault of bitcoin I guess.

but i see int the forum that you can also pay hotel's room and even prostitute in thail with bitcoins !!! it's amazing lol

Lol! very high tech now a days. I heard that about that hotel that accepts bitcoins as payment but i dont know where and i dont know if it is really true though it is cool you can pay it with bitcoins But regarding with prostitute i have heard that yet but it is awesome! hahaha

[deisik]

The biggest problem I had with bitcoin till this current time is the slow confirmation time particularly when there are stress tests or whatever you call them, These are not common right now anyway, But other than slow confirmations "which allot of sites require before you are credited" I can't think of any other weakness.

It is not so much the confirmation times per se as the variance (or deviation) thereof which is the root of the problem. I guess ten minutes between confirmations on average (as determined by the Bitcoin protocol) would be quite enough for the majority of users if the said variance was negligible. On the flip side, changing the confirmation time would require a major update aka hard fork of Bitcoin...

Most likely won't happen for the time being

[Capradina]

Bitcoin problem can be that bitcoin transactions are slow sometimes and can get stuck. Other major flaw is that we can't really pay anywhere with it yet but that will change and isn't really the fault of bitcoin I guess.

but i see int the forum that you can also pay hotel's room and even prostitute in thail with bitcoins !!! it's amazing lol

Lol! very high tech now a days. I heard that about that hotel that accepts bitcoins as payment but i dont know where and i dont know if it is really true though it is cool you can pay it with bitcoins But regarding with prostitute i have heard that yet but it is awesome! hahaha

Ahaha, something that probably will change the lives of the prostitutes. Because it will give you a very broad thoughts to them when the extraordinary advantage of knowing in the bitcoin. so, just waiting for the right time we will surely get it. Not only that, surely the online store and also store offline so soon to follow if the user had very many bitcoin

[moonya]

On the pros, the beauty and elegance of Bitcoin written more than you can imagine, and this despite the fact that users of Bitcoin is just 0.05 per cent of the world's population. But here's the problem that occurred with bitfinex, and the disappearance of a lot of money, a little alarmed. Just why we did not find another guilty. For that kind of money for a long time we had to search through the whole earth.

[bitcoluck]

what problem do you have in bitcoin.

Transaction confirmations are too slow, that's one of the biggest problem I ever had in using of bitcoin

[jonahmarieaton101]

Bitcoin problem can be that bitcoin transactions are slow sometimes and can get stuck. Other major flaw is that we can't really pay anywhere with it yet but that will change and isn't really the fault of bitcoin I guess.

Yes maybe that's one problem we encounter using bitcoin, But is it really a big problem? So far, for now i didn't have any big problems i encountered using bitcoin. If that time will come, i guess that's not bitcoins fault and it will change sooner or later 

[Shibashi Dogemoto]

Bitcoin problem can be that bitcoin transactions are slow sometimes and can get stuck. Other major flaw is that we can't really pay anywhere with it yet but that will change and isn't really the fault of bitcoin I guess.

Yes maybe that's one problem we encounter using bitcoin, But is it really a big problem? So far, for now i didn't have any big problems i encountered using bitcoin. If that time will come, i guess that's not bitcoins fault and it will change sooner or later 

That's not a big problem and it will be resolved in future and even at a moment if we add higher fees then it won't take long in getting transaction to get confirmed, and apart from that everything is simply fine with bitcoins.

[croutonhexagon]

Since bitcoin is decentralized money and so government could ban the digital money at any time so if this really happens then our hard earned money would go in water and we may give bye to cryptocurrency and our hard earned money. I hope this won't happen in my country i am very much dependent on bitcoin for my pocket money and some savings

[terman45x]

Since bitcoin is decentralized money and so government could ban the digital money at any time so if this really happens then our hard earned money would go in water and we may give bye to cryptocurrency and our hard earned money. I hope this won't happen in my country i am very much dependent on bitcoin for my pocket money and some savings

Even if Government bans bitcoin in future, people will find the ways to earn it and use it using vpn services and it is decentralized  currency so I don't think that Government can ever have control on it.

[fkvidar]

Not many problems in using bitcoins but sometimes its annoying to keep on waiting for confirmation time especially at the time of emergencies when you are in desperate need of money.

[darety1]

I cannot say that there are some problems to use bitcoin, I'm just affraid about the safety of my wallet.

[Ryananda]

Not many problems in using bitcoins but sometimes its annoying to keep on waiting for confirmation time especially at the time of emergencies when you are in desperate need of money.

Yes it is not much of an issue I've ever experienced in bitcoin. I only ever experienced the same problem as you in trouble with the pending transaction for several days. In addition I have never experienced and hopefully will never experience it.

[Blitzboy]

The acception of government is my biggest problem while using bitcoin in my country. My government does not like people to use bitcoin. As the results, there aren't any shops or store which allow people to use bitcoin to buy stuff.

[chaosknight]

Not many problems in using bitcoins but sometimes its annoying to keep on waiting for confirmation time especially at the time of emergencies when you are in desperate need of money.

Yes it is not much of an issue I've ever experienced in bitcoin. I only ever experienced the same problem as you in trouble with the pending transaction for several days. In addition I have never experienced and hopefully will never experience it.

I think delay in confirmation time is a minor problem attached with bitocoin as there is not always delay in confirmation, sometimes its too fast and sometimes its slow but that can be managed.