the advantage and disadvantage of Bitcoin

[dime2spend]

Bitcoin advantage is faster and cheaper transactions, the losses if prices suddenly plummeted. People around me still considers the BTC as a fraud

My last transaction (I bought something worth 0.21 BTC) took quite some time to go through. Took more than 30 minutes to get a single confirmation even though the fee was right. If I buy something with VISA it takes only a few seconds.

[blackmachinegun]

Bitcoin advantage is faster and cheaper transactions, the losses if prices suddenly plummeted. People around me still considers the BTC as a fraud

My last transaction (I bought something worth 0.21 BTC) took quite some time to go through. Took more than 30 minutes to get a single confirmation even though the fee was right. If I buy something with VISA it takes only a few seconds.

yeah matter of time confirmations, currently a problem
I also get annoyed if they have to wait too long, how to solve this problem?

[kheein]

I think the advantage using bitcoin is very fast , low transaction costs , suitable for trading. and the shortage is not yet legalized wrote.

[franky1]

bitcoin pre 2013
pro's
able to transact 0.0001 ($0.006c) - micropayments possible
virtually free to transact (or less than a penny for priority)
transactions settled in 10 minutes
no need to reveal identity to buy on exchanges or localbitcoins

con's
accepted at only 30,000 locations worldwide
unregulated exchanges run off with funds, blame hackers

bitcoin post 2013
pro's
accepted at over 120,000 locations worldwide

con's
transactions of 0.0000015 ignored($0.006c) - micropayments IMPOSSIBLE
unregulated exchanges run off with funds, blame hackers
transactions cost 4pennies-9pennies on average still not classed as priority
transactions still not guaranteed within 10 minutes even when paying 22pennies
required to hand over full id to exchanges, BTM's and localbitcoins unless you risk face to face meetings with strangers

[Newcoins2020]

bitcoin pre 2013
pro's
able to transact 0.0001 ($0.006c) - micropayments possible
virtually free to transact (or less than a penny for priority)
transactions settled in 10 minutes
no need to reveal identity to buy on exchanges or localbitcoins

con's
accepted at only 30,000 locations worldwide
unregulated exchanges run off with funds, blame hackers

bitcoin post 2013
pro's
accepted at over 120,000 locations worldwide

con's
transactions of 0.0000015 ignored($0.006c) - micropayments IMPOSSIBLE
unregulated exchanges run off with funds, blame hackers
transactions cost 4pennies-9pennies on average still not classed as priority
transactions still not guaranteed within 10 minutes even when paying 22pennies
required to hand over full id to exchanges, BTM's and localbitcoins unless you risk face to face meetings with strangers

I think the main disadvantages is that microtransactions are not working anymore.
If bitcoin would reach a price of over 10000k, it's hard to sent even 1 dollar.

[franky1]

I think the main disadvantages is that microtransactions are not working anymore.
If bitcoin would reach a price of over 10000k, it's hard to sent even 1 dollar.

yep and miner will probably want to charge you 0.0001btc ($1) per tx if bitcoin hits $10k

[ajun96]

The fluctuative price is the main reason why people still scared with bitcoin, but for me we can used that thing to get profit.. 

fluctuation, maybe this is disadvantages of bitcoin,
because many people are not interested to bitcoin, because of this problem, is not stable in price  (volatile) very risky

[dollarneed]

i don't think that there are more disadvantage than advantage

yeah exactly,there are more advantages of bitcoin than it's disadvantage,
it's really simple, you dont need to upload your identity to created a new wallet, bitcoin is the simplest for paying things online

[FlyingSaucer]

I think the main disadvantage is that Bitcoin is unstable and fluctuates in value a lot but this is expected.

[BeGoods]

Bitcoin advantage is faster and cheaper transactions, the losses if prices suddenly plummeted. People around me still considers the BTC as a fraud

Bitcoin have so many advantages and features but also have disadvantage. If all people around you can superinted that disadvantage, bitcoin will become useful currency

yeah I think the advantages of bitcoin more than disavantages
I would ask that, it is anonymous including the advantages of bitcoin?
many who say it is causing bitcoin banned

[owm123]

Bitcoin advantage is faster and cheaper transactions, the losses if prices suddenly plummeted. People around me still considers the BTC as a fraud

Bitcoin have so many advantages and features but also have disadvantage. If all people around you can superinted that disadvantage, bitcoin will become useful currency

yeah I think the advantages of bitcoin more than disavantages
I would ask that, it is anonymous including the advantages of bitcoin?
many who say it is causing bitcoin banned

Bitcoin is not anonymous (http://www.bitcoinisnotanonymous.com/), but rather pseudo-anonymous. For many this is considered as a disadvantage.

[arbitrage]

Advantage:      Easy to use, price will rise * it's like a gold.

Disadvantages: Hackers and general security, bitcoin is safe only in cold storage on safe place!
                      Relative slow transaction

[Supercrypt]

Advantage:      Easy to use, price will rise * it's like a gold.

Disadvantages: Hackers and general security, bitcoin is safe only in cold storage on safe place!
                      Relative slow transaction

There are many advantages we can enjoy with a bitcoin.

But the disadvantages only may happen in our mistakes and carelessness.
If we have strong password and all required precautions methods then there won't be any disadvantages with bitcoin ecosystem.

[Nahl]

Advantage: fully anonymous, low transactions fee, can use it everywhere as long there are internet connections

Disadvantage: sometimes the price down with very fast just like several day ago the price down more than $100 only in two days

[SirLancelot]

There is no disadvantages in my view.
I find bitcoin is the life time opportunity to invest and I can get my retirement very early. No other thing has given this hope so far.

[joinal]

Bitcoin advantage is faster and cheaper transactions, the losses if prices suddenly plummeted. People around me still considers the BTC as a fraud

My last transaction (I bought something worth 0.21 BTC) took quite some time to go through. Took more than 30 minutes to get a single confirmation even though the fee was right. If I buy something with VISA it takes only a few seconds.

yeah if we use the visa or credit card or paypal for payment
of course it will be instant because of the direct balance automatically confirmed, so it does not have to wait
bitcoin exactly the same, but it's a long confirmation
whereas a few years ago, a time confirmation, so fast?
why now so long?

[nerFohanzo]

Advantage:      Easy to use, price will rise * it's like a gold.

Disadvantages: Hackers and general security, bitcoin is safe only in cold storage on safe place!
                      Relative slow transaction

There are many advantages we can enjoy with a bitcoin.

But the disadvantages only may happen in our mistakes and carelessness.
If we have strong password and all required precautions methods then there won't be any disadvantages with bitcoin ecosystem.

That's true there are many advantages associate with bitcoins like decentralization, low transaction costs, instant transactions and many, the major disadvantage of bitcoin  is that it is not popular in every corner of the world and bitcoin is lacking support from the Governments and banking system.

[Rotator]

It is very complicated from technological stand of point.
Many people just don't understand what is bitcoin about!
Mining, private, public key ..wallets.. Fear of hackers attacks, fear of new things!?

[Rotator]

https://www.youtube.com/watch?v=Um63OQz3bjo
https://www.youtube.com/watch?v=Lx9zgZCMqXE

Also mining and difficulty if you are the miner it is something that can  devastate you,
 if you invest a lot in equipment and forget to upgrade rig and sell old...

[romero121]

It is very complicated from technological stand of point.
Many people just don't understand what is bitcoin about!
Mining, private, public key ..wallets.. Fear of hackers attacks, fear of new things!?

Thats well said about the disadvantages. There are few more disadvantages that I know are fake campaigns, no assiduity or guarantee, but the main thing is if we are little serious while using this we can beat all these disadvantages and make them as advantages.