CoinFoxs
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April 26, 2017, 07:31:40 AM |
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The Biggest disadvantage of bitcoins is his price nobody know when the price increase and decrease. its good for investor but to sometimes its become to much risky, like trading, but much risky much money yeahh
Everyone have their own perspective, you thought that price of bitcoin is unstable and no one knows what happens in future but this characteristic of bitcoin is good for investors who always wait for price to decrease so they can buy as much as they can. So I am not count this as a disadvantage. |
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Xenophoto
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April 26, 2017, 08:03:38 AM |
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The only disadvantage of bitcoin at a moment is that it is not accepted at offline places like restaurants or malls where we can spend them to buy food or clothes and apart from that I don't see any disadvantages attached with bitcoins.
I would not consider that as a disadvantage of bitcoin, that is a disadvantage for the owner of such businesses. It is the decision of the owner of the business whether to accept bitcoin or not. Another thing, why offline? Isn't bitcoin transactions are made online? I haven't seen nor heard about having bitcoin transaction offline. It is still a disadvantage especially for the bitcoin users . Money is meant to spend and bitcoin is money . What's the point of it if you can't spend it as much as you want . You see people have a limitation since most of the companies especially the big ones doesn't accept it . Yes you can convert it to your local currency but there will be an extra charge of fees . You can also use third parties i.e. bitcoin debit cards but there will also be an extra charge . The best choice will always be to use it directly . So why would this be a disadvantage for the owners of the said businesses? When even if they only accepts fiat not bitcoin but everyone has fiat so payment methods will not really affect them but their service and product will . Then it is still not a disadvantage of bitcoin. Would you even complain if you go to another country and pay products there using your local currency instead of theirs and they did not accept your payment? Of course not. Even if you say that money is meant to be spent as much as you want and saying that bitcoin is money. Your local currency is money and their local currency is also money. You must adjust to what type of payment the merchant wants and will not say that "this is also money." Do you get my point here?. I claimed that that was a disadvantage of the owner of the business because they do not accept bitcoin as payment or do not even know what bitcoin is. If they accepts bitcoin as payment then the bitcoin they received may increase in value over time so this is what I meant about that disadvantage. Bitcoin and local currency are two different things and you can't use the first one as an observation to conclude the other one. Your local currency might not be accepted in other countries but your own country will be always accepting it. Bitcoin, on the other hand, don't have a nation that will always accept it. No country use bitcoin as a payment method and the only way for you to ever use it directly for payment is to find the right store/shop. |
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dmamigo
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April 26, 2017, 08:21:31 AM |
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The Biggest disadvantage of bitcoins is his price nobody know when the price increase and decrease. its good for investor but to sometimes its become to much risky, like trading, but much risky much money yeahh
Everyone have their own perspective, you thought that price of bitcoin is unstable and no one knows what happens in future but this characteristic of bitcoin is good for investors who always wait for price to decrease so they can buy as much as they can. So I am not count this as a disadvantage. Even for me, volatility is not a disadvantage. Though it sometimes brings a thought when I had to purchase anything if the price is in $. Though its not a disadvantage. For me the duration was a disadvantage sometimes, but its now quite faster on some transactions. |
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dirokkl
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April 26, 2017, 08:24:41 AM |
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The Biggest disadvantage of bitcoins is his price nobody know when the price increase and decrease. its good for investor but to sometimes its become to much risky, like trading, but much risky much money yeahh
Everyone have their own perspective, you thought that price of bitcoin is unstable and no one knows what happens in future but this characteristic of bitcoin is good for investors who always wait for price to decrease so they can buy as much as they can. So I am not count this as a disadvantage. I agree. This is not a drawback, it is an opportunity to earn as in any other currency. Just in some, the course is more predictable. |
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DoublerHunter
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April 26, 2017, 11:13:57 AM |
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The Biggest disadvantage of bitcoins is his price nobody know when the price increase and decrease. its good for investor but to sometimes its become to much risky, like trading, but much risky much money yeahh
Everyone have their own perspective, you thought that price of bitcoin is unstable and no one knows what happens in future but this characteristic of bitcoin is good for investors who always wait for price to decrease so they can buy as much as they can. So I am not count this as a disadvantage. I agree. This is not a drawback, it is an opportunity to earn as in any other currency. Just in some, the course is more predictable. Being unstable for the price of bitcoin is a good thing and it is one of the things that makes bitcoin popular. If bitcoin is not stable then its price is still low and no one will get interested for a cheap bitcoin or stock. If you are a good trader and who want to make profits then you will love bitcoin for being unstable. |
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The_Dark_Knight
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April 26, 2017, 04:53:36 PM |
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The biggest disadvantage of bitcoin is its great instability when it comes to price is not rare to lose 10 to 20 percent of the value of your coins in a single day and that is simply too much, anyone used to investments see those kind of movements in months or years but bitcoin makes moves like that once in a while and that discourages people from using it.
You’re right, the price of Bitcoin is one of the most negative things that Bitcoin can have. Sometimes the price of Bitcoin could get pretty high while that causes more people to get interested and the price would get dumped due to the old timers wanting to cash their Bitcoins out. I think another disadvantage that Bitcoin has would be the transaction speed as well, though the transaction speed seems very minimal compared to the price of Bitcoin now days. Those two factors combine to slow adoption by business, the instability on the price is great if you are a day trader trying to make profits but for a business this is bad news since they cannot keep the bitcoin and will need to exchange it for fiat immediately since they need the money. |
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Monnt
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Activity: 938
Merit: 1000
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April 26, 2017, 05:14:34 PM |
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The only disadvantage of bitcoin at a moment is that it is not accepted at offline places like restaurants or malls where we can spend them to buy food or clothes and apart from that I don't see any disadvantages attached with bitcoins.
If you want to use bitcoin in places like restaurants and malls you can take a bitcoin debit card which can be availed through xapo or relevant legit sites and you can spend the money through it,the disadvantage i can tell is the delay in transaction which is frustrating at times when you are trading. The problem with bitcoin debit cards is they are expensive when it comes to fees, they take monthly fee plus the initial fee for buying it, and if you use it to withdraw money throw ATM they charge you more than 3%, plus we are missing the whole point of using bitcoin, and I think this is the disadvantage of bitcoin is that you can’t use it directly to buy stuff, you either have to exchange it to fiat or go through expensive processing. |
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duckydonald
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Activity: 378
Merit: 250
Pre-sale - March 18
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April 26, 2017, 05:25:29 PM |
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The only disadvantage of bitcoin at a moment is that it is not accepted at offline places like restaurants or malls where we can spend them to buy food or clothes and apart from that I don't see any disadvantages attached with bitcoins.
If you want to use bitcoin in places like restaurants and malls you can take a bitcoin debit card which can be availed through xapo or relevant legit sites and you can spend the money through it,the disadvantage i can tell is the delay in transaction which is frustrating at times when you are trading. The problem with bitcoin debit cards is they are expensive when it comes to fees, they take monthly fee plus the initial fee for buying it, and if you use it to withdraw money throw ATM they charge you more than 3%, plus we are missing the whole point of using bitcoin, and I think this is the disadvantage of bitcoin is that you can’t use it directly to buy stuff, you either have to exchange it to fiat or go through expensive processing. Yes using bitcoin debit card for shopping is an expensive affair as the fees are too high and even some debit cards charges for uploading balance in card and that makes it unattractive as no one will be willing to spend for charges as they can shop freely using their regular debit cards. |
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bouren
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April 26, 2017, 05:26:49 PM |
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The biggest disadvantage of Bitcoin is scaling process. With increase usage of Bitcoin, blockchain is incompetent to hold transactions. As a result of which fees are increasing dramatically.
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BlackBaron
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Activity: 643
Merit: 263
#SWGT PRE-SALE IS LIVE
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April 26, 2017, 05:31:34 PM |
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The main reason, I think that makes Bitcoin disadvantageous is the confirmation of the transactions. It's really hard to make the transaction go faster compared to previous times just because the difficulty is getting harder every time. I think that's one of the main reasons for bitcoin not being wild spread
Yes I agree with you, sometimes I am very need money in urgent situation so I withdraw my bitcoin to exchanger for exchange it to fiat and when the transaction is very long it is just make me so stressful, not sure but maybe BU is great idea for this problem |
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MMysterious
Sr. Member
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Activity: 972
Merit: 255
Bear season or just the beginning
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April 26, 2017, 05:38:30 PM |
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The main reason, I think that makes Bitcoin disadvantageous is the confirmation of the transactions. It's really hard to make the transaction go faster compared to previous times just because the difficulty is getting harder every time. I think that's one of the main reasons for bitcoin not being wild spread
Yes I agree with you, sometimes I am very need money in urgent situation so I withdraw my bitcoin to exchanger for exchange it to fiat and when the transaction is very long it is just make me so stressful, not sure but maybe BU is great idea for this problem They said SegWit can fix it but not sure. |
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optigon
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April 26, 2017, 09:52:18 PM |
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The main reason, I think that makes Bitcoin disadvantageous is the confirmation of the transactions. It's really hard to make the transaction go faster compared to previous times just because the difficulty is getting harder every time. I think that's one of the main reasons for bitcoin not being wild spread
Yes I agree with you, sometimes I am very need money in urgent situation so I withdraw my bitcoin to exchanger for exchange it to fiat and when the transaction is very long it is just make me so stressful, not sure but maybe BU is great idea for this problem Waiting for confirmation has become a big problem now even after paying higher fees we need to wait too long to see balance in our wallet and that is really annoying and this problem should be solved asap or else bitcoin will start loosing its users. |
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mace15
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April 27, 2017, 01:42:51 AM |
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As I observed I think the biggest disadvantage of bitcoin is so slow to confirm the transactions. Mine is receving that took 2days to be confirm. We all know that many users had used bitcoin but hoping this will be resolved immediately. Also, I think the disadvantage if by collecting high fees people will find other ways to use not bitcoin because of high fees.
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Vaskiy
Legendary
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Activity: 2618
Merit: 1105
Tontogether | Save Smart & Win Big
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April 27, 2017, 01:48:04 AM |
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As I observed I think the biggest disadvantage of bitcoin is so slow to confirm the transactions. Mine is receving that took 2days to be confirm. We all know that many users had used bitcoin but hoping this will be resolved immediately. Also, I think the disadvantage if by collecting high fees people will find other ways to use not bitcoin because of high fees.
High fee is levied by several wallet services. This could make people completely avoid few wallets services. One thing need to be agreed that based on the increasing price the transaction fee value increase but everytime the transaction fee is the same. Recently made a transaction through a wallet which levied more than $2 for a transaction that involved just $9. If this is the case as mentioned what's the use of small scale users. |
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may900608
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April 27, 2017, 02:52:52 AM |
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Bitcoin is not completely implemented in every country and due to very low transaction fee many people are using for illegal activities, The price of bitcoin is also not stable......
Bitcoin has many disadvantages, but people see more of its advantages
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Lady Coquet
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April 27, 2017, 08:24:16 AM |
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I don't see any biggest disadvantage about bitcoin, but i see one disadvantage and that is bitcoin has no stable price because sometimes it rise amd sometomes it falls. But for me bitcoin has been a big advantage to me because it helps to earn money more easily than doing other things in real life.
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DoublerHunter
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April 27, 2017, 11:08:43 AM |
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I don't see any biggest disadvantage about bitcoin, but i see one disadvantage and that is bitcoin has no stable price because sometimes it rise amd sometomes it falls. But for me bitcoin has been a big advantage to me because it helps to earn money more easily than doing other things in real life.
Unstable price for bitcoin is not a true disadvantage and it is a good characteristic for bitcoin because if you see bitcoin at a high price and if it is stable then you cannot buy it for a lower price and you don't have choice and just buy it while in unstable price there is flexibility for the price and you can buy for a lower price if you know how to wait the price. |
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abel1337
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Merit: 1145
FOCUS
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April 27, 2017, 11:26:37 AM |
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I don't see any biggest disadvantage about bitcoin, but i see one disadvantage and that is bitcoin has no stable price because sometimes it rise amd sometomes it falls. But for me bitcoin has been a big advantage to me because it helps to earn money more easily than doing other things in real life.
Unstable price for bitcoin is not a true disadvantage and it is a good characteristic for bitcoin because if you see bitcoin at a high price and if it is stable then you cannot buy it for a lower price and you don't have choice and just buy it while in unstable price there is flexibility for the price and you can buy for a lower price if you know how to wait the price. For me it is the biggest advantage of bitcoin , Thats the way we can make a great profit from bitcoin we just need a perfect timing on buying bitcoin and selling it. Must be updated on the latest news on bitcoin , that we can estimate the price of bitcoin. |
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aysha9859
Member
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Activity: 93
Merit: 10
Srry 4 my bad English
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April 27, 2017, 12:05:12 PM |
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transaction times and some fees (specially when sending little amounts. or more awaiting transactions)
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nightxglow
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April 27, 2017, 01:17:26 PM |
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Well i think the biggest disadvantage is because bitcoin is not well known enough and most people don't understand it(bitcoin) and there aren't many places that accept bitcoin as a payment method. And also i heard that it takes long time to confirm the transaction? i dunno though since i never use bitcoin for transaction before.
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