|
Umbrella Holdings
|
 |
August 13, 2017, 09:25:48 PM |
|
The biggest disadvantage of Bitcoin is that it is not yet accepted in my country. I am afraid that whenever I convert Bitcoin to the currency of the country and send it to my bank account, I may have problems at any time. If bitcoin was accepted in the country and taxed, there would be no problem.
|
|
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
|
Kevondo
|
|
August 14, 2017, 07:23:58 AM |
|
The biggest disadvantage of bitcoin is the price of it that keeps on fluctuating since it's unpredictable people tend to sell their bitcoin right away..it is unstable that you cannot trust putting every earnings you have on it because you may wake up one day losing everything.
The value of bitcoins is always changing. Its volatility afraid some of people but the prices increase more than decreasing that is why still people are investing in bitcoins. It is attracting, massive population from all over the globe. Nowadays, it is in its pumping phase and its best to show tolerance during the dip. |
|
|
|
|
|
Mbah Djoko
|
|
August 14, 2017, 08:53:10 AM |
|
For me, the biggest disadvantages of bitcoin is I was too late to invest bitcoin, I know bitcoin bitcoin a year ago when the price of $850, then I think the price is very expensive because I'm still in school and not working.
|
great
|
|
|
|
andrei56
|
|
August 19, 2017, 05:03:31 AM |
|
I think that the biggest disadvantage of bitcoin is its instability. If I’m a merchant, I would be very wary of accepting Bitcoin as a payment. FOR EXAMPLE, if I received a bitcoin as a payment worth $100 now, I do not have any assurances that it will stay $100 the next day. I know that prices are volatile and that $100 can change into $1000. But what happens if I desperately needed that $100 at this certain time but its price dropped down to $50?
I do not think that is a real problem, most merchants do not store bitcoin for any significant amount of time, so that is not a real problem for them that is only a problem for people like us that hold bitcoin for months, years and for some people in the forum that are going to hold for decades. |
|
|
|
|
matanglawin
Full Member
 Offline
Activity: 372
Merit: 100
The Organic Growth Token
|
|
August 19, 2017, 07:39:03 AM |
|
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  I think it's the volatility of Bitcoin. Bitcoin's market value is changing from time to time. There'll be times that its price is dipping and there are times that it is rising. Maybe it is the reason why it is not accepted by all countries in the world because its maket value is not stable. Yes, it is an advantage to the users if its price is continuously increasing but not if the price is falling. |
|
|
|
DU18
Sr. Member
Offline
Activity: 1694
Merit: 268
Binance #SWGT dan CERTIK Audited
|
|
August 19, 2017, 08:04:55 AM |
|
Bitcoin is helping bad people to doo more crime.Since transactions is not handle by anyone so crimes are happening.Also we can't use bitcoin anywhere.I need to convert btc to fiat first.Slow transaction is another problem I guess.It's killing my valuable time.
|
|
|
|
|
millgates
|
|
August 19, 2017, 12:01:11 PM |
|
Bitcoin is helping bad people to doo more crime.Since transactions is not handle by anyone so crimes are happening.Also we can't use bitcoin anywhere.I need to convert btc to fiat first.Slow transaction is another problem I guess.It's killing my valuable time.
Sorry but I disagree with you, the transaction of Bitcoin is transparent and recorded, so Bitcoin will reduce the crime activity. We can use bitcoin at the place that accept it, what we only need is find it. I think the biggest disadvantage of Bitcoin is the volatility, but it is one of the properties of the new currency with relatively low liquidity. As this currency gets more and more accepted by the public, the wild price movement will be less frequent. |
|
|
|
|
Mikasa77
Member
Offline
Activity: 140
Merit: 10
|
|
August 22, 2017, 03:09:26 AM |
|
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 As what i see, the disadvantages of bitcoin was its transaction fee. I read many thread about it and people are always complaining about it. So i think that is one of its disadvantages. |
|
|
|
stadus
Legendary
Offline
Activity: 3094
Merit: 1292
Hhampuz for Campaign management
|
|
August 22, 2017, 06:40:08 AM |
|
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 As what i see, the disadvantages of bitcoin was its transaction fee. I read many thread about it and people are always complaining about it. So i think that is one of its disadvantages. The fee is high now because the value of bitcoin increases, and it's not good if you are just transacting small amount to transfer your bitcoin as it is too costly to you. When people are not interested anymore because of the disadvantage they see, there are other options which are the altcoins. |
| .
.Duelbits. | │ | | │ | ▄▄█▄▄░░▄▄█▄▄░░▄▄█▄▄
███░░░░███░░░░███
▀░░░▀░░▀░░░▀░░▀░░░▀
▄░░░░░░░░░░░░
▀██████████
░░░░░███░░░░▀
░░█░░░███▄█░░░█
░░██▌░░███░▀░░██▌
░█░██░░███░░░█░██
░█▀▀▀█▌░███░░█▀▀▀█▌
▄█▄░░░██▄███▄█▄░░▄██▄
▄███▄
░░░░▀██▄▀ | .
REGIONAL
SPONSOR | | ███▀██▀███▀█▀▀▀▀██▀▀▀██
██░▀░██░█░███░▀██░███▄█
█▄███▄██▄████▄████▄▄▄██
██▀ ▀███▀▀░▀██▀▀▀██████
███▄███░▄▀██████▀█▀█▀▀█
████▀▀██▄▀█████▄█▀███▄█
███▄▄▄████████▄█▄▀█████
███▀▀▀████████████▄▀███
███▄░▄█▀▀▀██████▀▀▀▄███
███████▄██▄▌████▀▀█████
▀██▄███▀██▄█▄▄▄██▄████▀
▀▀██████████▄▄███▀▀
▀▀▀▀█▀▀▀▀ | .
EUROPEAN
BETTING
PARTNER | |
|
|
|
|
chichan13
|
|
August 22, 2017, 06:55:59 AM |
|
For me, the biggest dksadvantage of bitcoin is; it is not widely accepted. Infact, some countries are banned this kind of technology. If you want the list here https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country. Second, it has no physical form. You cannot spend it ti any physical stores. Only few stores are accepting bitcoin. You need to convert it to cash in able to buy. Third, bitcoin can be lost. Just like physical.money, it can be lost. For example. You have stored your btc at your pc, but the pc crashes. Your wallet is lost and also your btc. I think the biggest disadvantages of bitcoin is you can't use it in offline store and it still not widely accepted in other country. In addition to that, as of now bitcoin is still not accepted as real money but you can convert into fiat. Lastly, I hope bitcoin will accept in all country and it will also consider as a real money. |
|
|
|
|
|
andrei56
|
|
August 25, 2017, 05:22:59 AM |
|
the biggest disadvantage of bitcoin is that we still have to pay a fee with small transaction and that fee is extremely big when compare to that small transaction. As you can see, if we want to transfer $1 worth of bitcoin to someone, we need to pay an extra $0.5 in order for our transaction to be proceeded
That is not really a disadvantage but the way the network works, have you tried to send a dollar using a bank wire? I do not even know if it is possible to send such a low sum of money, but in bitcoin you can do it if you want even if you consider the fee to be high. |
|
|
|
|
Jateng
Full Member
Offline
Activity: 1262
Merit: 148
Think Different
|
|
August 25, 2017, 06:06:05 AM |
|
the biggest disadvantage of bitcoin is that we still have to pay a fee with small transaction and that fee is extremely big when compare to that small transaction. As you can see, if we want to transfer $1 worth of bitcoin to someone, we need to pay an extra $0.5 in order for our transaction to be proceeded
That is not really a disadvantage but the way the network works, have you tried to send a dollar using a bank wire? I do not even know if it is possible to send such a low sum of money, but in bitcoin you can do it if you want even if you consider the fee to be high. I will never come up to an understanding as to how people think that bitcoin fees are "high". Have you guys tried to transact a large sum of money? You see how little that fee is as opposed to how much the fee is when you send money in Paypal. Unless you are a person that likes to send a dollar at a time, which is insane by the way, then I see no reason why would you have problems with the transaction fee. |
|
|
|
coleman268
Member
Offline
Activity: 112
Merit: 10
|
|
August 25, 2017, 06:34:00 AM |
|
I think the only disadvantages of Bitcoin is that you can't physically hold bitcoin unlike fiat ad the fact of how volatile the price of btc is currently.
|
|
|
|
|
|
Hotel_Prodeo
|
|
August 25, 2017, 07:18:05 AM |
|
I am regret because I know bitcoin since a year ago and did not buy a lot, at that time I thought to buy bitcoin, but I was worried because the price can drop and I lose. I think bitcoin is the best investment.
|
|
|
|
xamil
Member
Offline
Activity: 354
Merit: 11
|
|
August 25, 2017, 08:01:55 AM |
|
I think the biggest disadvantage of bitcoin is being notacceptable in any country. If a people who want to travel in the country that bitcoin do not accepted and that people has a bitcoin, it is one disadvantage of bitcoin. And one thing also is the changes of the currency.
|
|
|
|
|
masterwakokok7
Member
Offline
Activity: 112
Merit: 10
|
|
August 25, 2017, 08:19:26 AM |
|
Some of the advantages of Bitcoin are also part of its disadvantages. Such as;
1. Decentralization, why? All of us do have different intentions why we engage in this industry. For me, I classify it as GOOD and BAD.
Good engagement, Is more of the usuals and standard trading and investment in the industry. No hidden agenda, or any fraud. Pure earnings and profits only. We can freely transact without being tracked.
Bad engagement, is more of the illegal activities most likely criminals or syndicates do abuse the great feature of Bitcoin. As said, Bitcoin decentralization helps those syndicates to transact huge amount of money without getting caught. In addition to that, in this industry, we are anonymous which can contribute to their willingness to do it freely. No one could stop them unless the Government does something about it. (Nothing is impossible if the Government took over).
2. Volatility - Bitcoin is very unpredictable and unstable, Though it's a normal nature in any of the players on the market. Bitcoin's being volatile contributes to panic attacks in which investors or traders.
3. Outside attacks - Bitcoin is a digital currency in which it is prone to hackers. Even though you say that Bitcoin has a very deep security, Hackers could find a way to disrupt transactions, hack wallets and etc.
|
|
|
|
pipsterz
Newbie
Offline
Activity: 3
Merit: 0
|
|
August 25, 2017, 09:29:15 AM |
|
There is nothing such as a major structural flaw in bitcoin generally, the relatively high fees and the block times are the relatively less significant problems in bitcoin, but I doubt they will stand in the way of adoption of bitcoin anytime soon, Of course, There are hundreds of altcoins, so don't expect interest just by solving these two minor issues, as almost every altcoin focuses on solving these.
|
|
|
|
|
nexus99
Legendary
Offline
Activity: 910
Merit: 1000
|
|
August 25, 2017, 10:14:58 AM |
|
Bitcoin is supposed to be totally anonymous. But if by any chance you manage to get info on the identity of a wallet owner, you will be able to know all the transactions and amounts that are stored in this wallet. So it's not really as anonymous as all that. For me it's a serious downside
|
|
|
|
|
rock2
Newbie
Offline
Activity: 11
Merit: 0
|
|
August 25, 2017, 10:16:00 AM |
|
The disadvantage is the speed.
|
|
|
|
|
|
lousie9
|
|
August 25, 2017, 10:25:57 AM |
|
Bitcoin is supposed to be totally anonymous. But if by any chance you manage to get info on the identity of a wallet owner, you will be able to know all the transactions and amounts that are stored in this wallet. So it's not really as anonymous as all that. For me it's a serious downside
The disadvantages you describe can make the bitcoin legality brighter, the application of kyc on every business is considered to make it easier for the coin to enter the economy of society or we will all be considered doing illegal business in the future, this is not a loss and I consider it a mandatory adaptation. |
|
|
|
|
