What is big problem in using of bitcoin

[quentincole32]

what problem do you have in bitcoin.

For me in my experience that I encountered in bitcoin was when I convert my bitcoin into a real money the confirmation took a couple of hours before it confirm to my email, I think its almost 8 hours before I claim my cash. Aside from that experience no more.

Really? I have never faced that problem as whenever I sell my coins and transfer the funds to my bank account it hardly takes 10 minutes from the trader to transfer the funds, btw I use localbitcoin for selling my coins.

i guess it's depends on how the local exchange treat their user. mostly people don't have to wait till that long time, almost instant you sell your bitcoin for cash. or you might can make a deal face to face to those people who want to buy your bitcoin , it's faster.

[peta4e]

what problem do you have in bitcoin.

For me in my experience that I encountered in bitcoin was when I convert my bitcoin into a real money the confirmation took a couple of hours before it confirm to my email, I think its almost 8 hours before I claim my cash. Aside from that experience no more.

Really? I have never faced that problem as whenever I sell my coins and transfer the funds to my bank account it hardly takes 10 minutes from the trader to transfer the funds, btw I use localbitcoin for selling my coins.

i guess it's depends on how the local exchange treat their user. mostly people don't have to wait till that long time, almost instant you sell your bitcoin for cash. or you might can make a deal face to face to those people who want to buy your bitcoin , it's faster.

I think going for face to face can be good as there is no chance of getting scammed and it will also save the time but if you don't have that option then you can find other safe alternatives.

[yndye]

what problem do you have in bitcoin.

That would be the big fluctuation of prices because the volume is not that big compared to forex so a person who holds a big amount can move the market if he wants to and a fluctuation of more than $100 is very possible in just minutes especially if there are fortuitous events. It may work in someone's advantage if he buy something and then the price suddenly shoot up because of some event or announcement so he will gain a bigger profit while most of the time if an event happen like hacking the price will dive and then those who bought when the price is still on top would have bigger losses so it would be a disadvantage. So that is my problem with bitcoin because the price is not that stable yet.

[rinhunter]

what problem do you have in bitcoin.

That would be the big fluctuation of prices because the volume is not that big compared to forex so a person who holds a big amount can move the market if he wants to and a fluctuation of more than $100 is very possible in just minutes especially if there are fortuitous events. It may work in someone's advantage if he buy something and then the price suddenly shoot up because of some event or announcement so he will gain a bigger profit while most of the time if an event happen like hacking the price will dive and then those who bought when the price is still on top would have bigger losses so it would be a disadvantage. So that is my problem with bitcoin because the price is not that stable yet.

Yes it happens because nobody regulate Bitcoin, it all depends on the market and for me it is not really problem in Bitcoin. I think that's what makes Bitcoin become popular.

[chaosknight]

what problem do you have in bitcoin.

That would be the big fluctuation of prices because the volume is not that big compared to forex so a person who holds a big amount can move the market if he wants to and a fluctuation of more than $100 is very possible in just minutes especially if there are fortuitous events. It may work in someone's advantage if he buy something and then the price suddenly shoot up because of some event or announcement so he will gain a bigger profit while most of the time if an event happen like hacking the price will dive and then those who bought when the price is still on top would have bigger losses so it would be a disadvantage. So that is my problem with bitcoin because the price is not that stable yet.

Yes it happens because nobody regulate Bitcoin, it all depends on the market and for me it is not really problem in Bitcoin. I think that's what makes Bitcoin become popular.

Agreed, price fluctuations make bitcoin more popular as it allows people to make regular profits and I don't think people would be treating it as an problem, in fact its an opportunity to make profits.

[klf]

what problem do you have in bitcoin.

That would be the big fluctuation of prices because the volume is not that big compared to forex so a person who holds a big amount can move the market if he wants to and a fluctuation of more than $100 is very possible in just minutes especially if there are fortuitous events. It may work in someone's advantage if he buy something and then the price suddenly shoot up because of some event or announcement so he will gain a bigger profit while most of the time if an event happen like hacking the price will dive and then those who bought when the price is still on top would have bigger losses so it would be a disadvantage. So that is my problem with bitcoin because the price is not that stable yet.

Yes it happens because nobody regulate Bitcoin, it all depends on the market and for me it is not really problem in Bitcoin. I think that's what makes Bitcoin become popular.

Agreed, price fluctuations make bitcoin more popular as it allows people to make regular profits and I don't think people would be treating it as an problem, in fact its an opportunity to make profits.

For traders, price fluctuations help to make regular profits, but people who don't go for trading may be worrying of these fluctuations. Because they may not be knowing why changes happen and will worry only that they may lose their money if prices go below more. But we no need to worry about these short-term fluctuations because in the long run bitcoins will give good returns.

[danherbias07]

The transaction time is really getting rustier now. I dont seem to understand but it is like they want to profit from the transaction fee. There have been stories of way too high of fees.

[terman45x]

The only problem I face at a moment is every time when I sell my coins and convert it to fiat I have to pay 2% conversion fees that is quiet high especially if you are dealing in higher amount.

[TemplarKnightUK]

The only problem I face at a moment is every time when I sell my coins and convert it to fiat I have to pay 2% conversion fees that is quiet high especially if you are dealing in higher amount.

Commission is something that will come down as the market for exchanges becomes more crowded and competition forces prices down.

[springgers]

The only problem I face at a moment is every time when I sell my coins and convert it to fiat I have to pay 2% conversion fees that is quiet high especially if you are dealing in higher amount.

None works for free... They are with your money in hands, this % is for security, work, etc... I don't think it's a bad thing... Try to make a P2P deal so, and you will offer more % to the exchanges because the security and convenience

[ashiqdey]

the biggest problem in using bitcoin is that, there is many fraud trader and if we ever deal with them then our whole money would go in water. Because once they get our money they are not going to return us any bitcoin. they would live in luxurious with our money. and second fear is that government could ban bitcoin anytime and if so happens then our whole money would spoil  in wallet.

[Corenin]

the biggest problem in using bitcoin is that, there is many fraud trader and if we ever deal with them then our whole money would go in water. Because once they get our money they are not going to return us any bitcoin. they would live in luxurious with our money. and second fear is that government could ban bitcoin anytime and if so happens then our whole money would spoil  in wallet.

If you trade on reputed sites then you will never face that problem as they have escrow services so till you don't get receipt of funds in your bank account you can hold your bitcoins and once the payment is confirmed you can release them.

[Mr.grin]

so far my problem is to use bitcoin, bitcoin I was stolen from my wallet. Well, maybe it's because I put it on the computer that its IP different than usual, when I opened the wallet to me, no delivery confirmation and turns all bitcoin that of the wallet I had exhausted stolen, so when I get bitcoin, I immediately exchange it or secure it in where I feel safe