the advantage and disadvantage of Bitcoin?

[sana54210]

If I remember quite correctly, there was some kind of a somehow similar thread and I've pretty much said the same thing over and over again. And I'll just quote this one because it's pretty much what I was about to say either anyway.

Advantages :

- You can make any number of accounts you want (wallets/addresses)
- You can't get your wallet/addresses limited .
- You don't have to provide any real information's (like name etc ...) unless you decide to use a service like Coinbase of course. (your own fault).
- It's secure (Cryptography)
- You don't have to deal with Paypal shit anymore.
- It's a long-term investment .


Disadvantage :

- I don't like the fact that we need to wait few confirmations to fully trust that transaction.

[pereira4]

The biggest advantages is that you can store wealthy outside of the system without 0 possibilities of anyone else ever finding out if you know what you are doing. Also the fact that you can store trillion of dollars inside a pendrive in an undetectable way.

The disadvantage is that the price fluctuates a lot, but that is a given under free market conditions, so it's not really a disadvantage.

[gerXhonza]

The biggest advantages is that you can store wealthy outside of the system without 0 possibilities of anyone else ever finding out if you know what you are doing. Also the fact that you can store trillion of dollars inside a pendrive in an undetectable way.

The disadvantage is that the price fluctuates a lot, but that is a given under free market conditions, so it's not really a disadvantage.

Price fluctuations allows traders to earn profits and I don't think it as an disadvantage, the biggest disadvantage is that it is not yet accepted everywhere.

[Hirose UK]

the advantage and disadvantage of Bitcoin 

Advantages :

- You can make any number of accounts you want (wallets/addresses)
- You can't get your wallet/addresses limited .
- You don't have to provide any real information's (like name etc ...) unless you decide to use a service like Coinbase of course. (your own fault).
- It's secure (Cryptography)
- You don't have to deal with Paypal shit anymore.
- It's a long-term investment .


Disadvantage :

- I don't like the fact that we need to wait few confirmations to fully trust that transaction.

another advantages:
you can buy things around the world using bitcoin (as long as the shop accepts bitcoin), but you can wait for openbazaar

disadvantages:
bitcoin can be stolen if you don't keep it secure, for instance you use online wallet you don't use 2fa on it, or you use paper wallet and download "hacking virus".

[wintermeasures]

the advantage and disadvantage of Bitcoin 

I think a lot the advantage and disadvantage of Bitcoin. but I'll just give one example.
Advantage : Bitcoin could be the land of your profits if you can manage it well, you can trade maybe.
Disadvantage : Many bitcoin to use it for negative purposes, and this makes some countries prohibit bitcoin
thank you.

[Kevin77]

Disadvantages:
Long wait til confirmation
Ever increasing power required to mine


Advantage:
First in the field meaning there are lots of adopters already.

Even though it takes a long time for confirmation, it's still faster than Bank payments. It's also safe to use and mining should only be done by those who have low electricity costs as it can be expensive then.
I wouldn't consider this as a disadvantage as of now as bitcoins are still new and miners are rewarded from time-to-time.

[Superbitzz]

The biggest advantages is that you can store wealthy outside of the system without 0 possibilities of anyone else ever finding out if you know what you are doing. Also the fact that you can store trillion of dollars inside a pendrive in an undetectable way.

The disadvantage is that the price fluctuates a lot, but that is a given under free market conditions, so it's not really a disadvantage.

i think so many other advantaged but a little disadvantage. bitcoin can be use a single valued currency in any part of the world. it can be easily be convert to flat currency. is also provide opportunities equally to become a rich person.it also provides opportunities to earn livelihood if you have not a sing bitcoin. the disadvantage is that still its not legalize by any state. if this problem solved then i think there will remain not a single disadvantage regarding bitcoin.

[BTCLovingDude]

the only disadvantage that i can think for bitcoin is that it is not yet adopted by everyone so it is hard to find places that accept bitcoin as payment.

but advantages are a lot: the anonymity, decentralization, speed of transaction, super low fees, price,...

[Hirose UK]

the only disadvantage that i can think for bitcoin is that it is not yet adopted by everyone so it is hard to find places that accept bitcoin as payment.

but advantages are a lot: the anonymity, decentralization, speed of transaction, super low fees, price,...

I find it difficult to understend what you mean by it is hard to find places accepting bitcoin. There are  many stores accepting bitcoin in Russia, and America, etc. where do you live anyway?

so I think it's both of advantage and disadvantage of bitcoin that it is accepted in some places and not accepted in other places.

[Labumi]

the only disadvantage that i can think for bitcoin is that it is not yet adopted by everyone so it is hard to find places that accept bitcoin as payment.

but advantages are a lot: the anonymity, decentralization, speed of transaction, super low fees, price,...

Yup, it does become one of the factors that cause bitcoin less popular because it's still very few who use the Bitcoin, for their thoughts about bitcoin has not been as good as other currencies

[Winoc]

Advantages: Anonymity, be your own bank, no chargebacks, fastest method of sending/receiving money.
Disadvantages: illegal activities are performed, theft, fraud --no laws can help you in case of btc fraud.

[justdimin]

the only disadvantage that i can think for bitcoin is that it is not yet adopted by everyone so it is hard to find places that accept bitcoin as payment.

but advantages are a lot: the anonymity, decentralization, speed of transaction, super low fees, price,...

I don't know how the 'speed of transaction' is an advantage for now. I mean, compared to online paying platforms, the speed of transaction is quite better (PayPal, etc) than bitcoins.
However, personally, the advantage of anonymity overpowers that little flaw.

[owm123]

Advantages: Anonymity, be your own bank, no chargebacks, fastest method of sending/receiving money.
Disadvantages: illegal activities are performed, theft, fraud --no laws can help you in case of btc fraud.

Anonymity of what? Of transactions? bitcoin is not anonymous (http://www.bitcoinisnotanonymous.com/) by its nature. Though certenly if you try and know what how to use btc to cover your bitcoin tracks, then you can be more "anonymous" than avarage users.

[Shibashi Dogemoto]

Advantage - best currency/investment/best for money transfer with minimum fees
Disadvantage - cannot use and spend everywhere.

[1Referee]

It's personal for everyone as each person uses Bitcoin in their own way.

Advantages for me:
It's an investment which allows me to hold it for a long time and to use it for trading purposes.
It can be a store of wealth as it allows me to store money outside the banking system.
It allows me to send money from place A to place B in a matter of a seconds anywhere in the world 24/7 365 days a year.

For me personally there are no disadvantages. Even not the block times that some people see as "very slow".

[Wapinter]

the advantage and disadvantage of Bitcoin 

To me the advantage and disadvantage are same and that is unstable bitcoin price.The advantage is that due to its constant price changes,one can make profit with holding coins.The disadvantage is the unstable price is a hindrance in bitcoin usage as people want to keep it in cold storage rather than spending like other currency

[wuvdoll]

The advantages of bitcoin are that it is best payment method, it is decentralized and not controlled by Government and disadvantage it cannot be used everywhere.

I'm thinking exactly the same thing to be honest, the fact is that its nice that its self controllable but the big disadvantages that its still not accepted by a lot of stores online in in real.
I hope this will change soon or later.

Bitcoins are accepted by many stores. Microsoft and Steam had already adopted bitcoins as a payment method and even Amazon is thinking to adopt it soon. It is surely going to change soon and hope everything is good for bitcoins. Till we have websites like gyft and purse, we can shop anywhere with bitcoins.

[Corenin]

The advantages of bitcoin are that it is best payment method, it is decentralized and not controlled by Government and disadvantage it cannot be used everywhere.

I'm thinking exactly the same thing to be honest, the fact is that its nice that its self controllable but the big disadvantages that its still not accepted by a lot of stores online in in real.
I hope this will change soon or later.

Bitcoins are accepted by many stores. Microsoft and Steam had already adopted bitcoins as a payment method and even Amazon is thinking to adopt it soon. It is surely going to change soon and hope everything is good for bitcoins. Till we have websites like gyft and purse, we can shop anywhere with bitcoins.

This companies have started to accept bitcoin but we also need to keep in mind the shipping cost attached with it, it can be an expensive affair.

[bittrojan]

the advantage and disadvantage of Bitcoin 

Advantages :

- You can make any number of accounts you want (wallets/addresses)
- You can't get your wallet/addresses limited .
- You don't have to provide any real information's (like name etc ...) unless you decide to use a service like Coinbase of course. (your own fault).
- It's secure (Cryptography)
- You don't have to deal with Paypal shit anymore.
- It's a long-term investment .


Disadvantage :

- I don't like the fact that we need to wait few confirmations to fully trust that transaction.

bitcoin have more than that six advantage,and i have list some of my opinion.
Advantages :
- fast payment,just scan barcode and dont need wai confirmations.
- can use as currency and investment
- can earned with free,more simple that earn money.

[Superways]

Everyone here will mostly provide the advantages of bitcoin as there is a lot of advantages of bitcoin rather than disadvantages( or I will say for me there is no any disadvantage in bitcoin as there is no any lose for me in bitcoin)

By the way the more popular and attractive advantages of bitcoin are:
1. It si a currency which allow the world to connect, I mean everywhere in the world it is easily used without any restriction.
2. Its transaction is anonymous so you can send money to anyone in any part of the wrld, o matter they are hostile to each other.
3. It is providing a lot of opportunities for the people to earn money online, means more of the paid tasks are available on internet with this currency.
4. Its value is increasing every days so with that your money invested in it is also increased.

These are the advantages which I have found in it.