Kateryna_Oli
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Activity: 28
Merit: 0
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June 19, 2017, 07:32:56 PM |
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A time for which I need to wait. Just joke  On my mind the workers need to be educated on Bitcoin so that they can help the customers. This will definitely take some time and effort. Otherwise, what is the benefit of such large companies accepting Bitcoin if its staff doesn’t even know what digital currencies are? So I think there are some disadvantages but they are "minor" comparing with all advantages! Be positive!:) |
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goinmerry
Legendary
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Activity: 2940
Merit: 1083
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June 19, 2017, 08:24:27 PM |
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The fees, the speed and some online wallets and exchanges bad practices.
You are right that for some people the fees is a problem nowadays especially for hose people who have to transact smaller amount of bitcoins but I hope hat it will be solved sooner. And for he online wallets and exchanges I will say that we have to join only those web wallets and exchanges which will be more trusted in the community and which will have positive reviews by the community . Trust is not the issue here. We can give trust to any exchanges but we aren't sure if exchanges will return the favor. No matter how regulated they are there are still chances that we can turned into fraud and do shit for us. It's easy for an exchanges to build reputation and gather positive reviews if they will do their services really good. But still it will not erase the fact that they are still prone to fraud. That's why only use exchanges when needed and not as long time partner to rely your bitcoins there. It's a good practice to learn other web wallets which is outside the premises of web exchanges. |
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katepagava
Newbie
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Activity: 24
Merit: 0
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June 19, 2017, 10:18:22 PM |
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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 OMG transaction's speed is so awfull!!!! If im not mistake ETH has much faster one   |
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poplolnman
Legendary
Offline
Activity: 1442
Merit: 1008
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June 19, 2017, 10:45:39 PM |
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The fees, the speed and some online wallets and exchanges bad practices.
You are right that for some people the fees is a problem nowadays especially for hose people who have to transact smaller amount of bitcoins but I hope hat it will be solved sooner. And for he online wallets and exchanges I will say that we have to join only those web wallets and exchanges which will be more trusted in the community and which will have positive reviews by the community . i think it's just a temporary problem, sonner or later the stakeholders would fix this. just the matter of time , bitcoin would remain number one as cryptocurrency that's what i believe. the only permanent disadvantages of using bitcoin are when the transaction can't be reversible, with a single click and everything done. that's life there would always a pros and cons. |
I'm in 400,000 euros debt , dont help me , i rather die
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The_prodigy
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June 19, 2017, 11:10:04 PM |
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At present the biggest disadvantage is transaction charge eve for small transaction it's really not acceptable . There is no chances of micro transaction now a days
I felt it too. Thats the reason why other people stop earning bitcoin and starts to earn other alternative coin. People are earning bitcoin to provide their needs and to pay their bills but when they need the money it has been deducted the transaction fees we cant withdraw the whole amount of what we have been earned that is the disadvantage of bitcoin now. |
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bestluck
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June 19, 2017, 11:25:19 PM |
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I guess the biggest is the long waiting for transaction because of the volume of users and blocks that makes transactions slower and the fee that requires to make it fast. The fee is so unreasonable in my part, actually it is okay to pay fee but not too much sometime it is hard to send small amount coin to a friend because of the high fee requirements.
I hope you can solve it when you make it on your own.
Nowadays the time of transaction is not much higher but if you will pay a normal fees then you will get confirmed the first confirmation within a few minutes. and for lower transaction it is a little hard nowadays but you can use lower fees wallets for that. |
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Colt22
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June 19, 2017, 11:27:39 PM |
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I believe one of the biggest disadvantage of Bitcoin is being decentralize and the need of consensus to implement fix, updates and more. This delay bitcoin development since it needs consensus and approval of major population of bitcoin community. Aside from that I cannot see any more disadvantage of Bitcoin.
Decentralization is not the disadvantage of bitcoin but it is the property of bitcoin which is getting more and more users for itself. Many people are keeping their money in bitcoin because they want to keep their money ina place so that it will not have any control by any authority. |
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DOGE12321
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June 20, 2017, 12:19:25 AM |
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Bitcoin prices are extremely volatile. Confirmation times for transactions in Bitcoin are rising exponentially. Transaction rates themselves are rising exponentially. Thus it is hard to accept BTC for everyday purchases. Moreover, a lot of people don't like change and Bitcoin is completely different to what they have ever experienced. It would be difficult for everyone to use Bitcoin immediately.
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afkng
Newbie
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Activity: 35
Merit: 0
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June 20, 2017, 12:54:19 AM |
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Despite the recent bullish price the volatility indeed do not help the btc on the day to day usage but I guess the fees are the main problem.
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Haladay
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June 20, 2017, 01:00:36 AM |
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I will try to count all that come to my mind.
1-) The transaction speed is very slow.
2-) Blockchain network is very busy.
3-) Transaction fees are very high. This is horrible!
Most worrying things I guess.
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hisuka
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June 20, 2017, 01:45:57 AM |
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I think the biggest disadvantages of bitcoin is its fluctuation, also its slow confirmation and high transaction fees. These are the reasons why some users are complaining about with regards too slow to confirm the transactions that cannot accept or legalized by any stores globally.
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eann014
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June 20, 2017, 02:42:50 AM |
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For me disadvantage of bitcoin is that, when bitcoin already increases, it is still decreases so I am expecting bit amount in my bitcoin but then when I check my butocin account again it is already decreases. So, I think this is the disadvantage of bitcoin.
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Gastotade
Sr. Member
Offline
Activity: 545
Merit: 250
Colletrix - Bridging the Physical and Virtual Worl
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June 20, 2017, 02:50:03 AM |
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I think the biggest disadvantages of bitcoin is its fluctuation, also its slow confirmation and high transaction fees. These are the reasons why some users are complaining about with regards too slow to confirm the transactions that cannot accept or legalized by any stores globally.
Fees and delays really makes btc difficult to used this past days so we find an alternative coins that can transact easily and with no hassle. Its ok to pay high if we really get the deserve progress in sending transactions but more often its not, hoping btc can fix it soon when huge adoption happens. |
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duyduc256
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June 20, 2017, 03:08:34 AM |
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I will try to count all that come to my mind.
1-) The transaction speed is very slow.
2-) Blockchain network is very busy.
3-) Transaction fees are very high. This is horrible!
Most worrying things I guess.
Bitcoin is the most disadvantageous transaction is very slow, very high charges, if you set a low fee, transaction can be canceled without the reason and I have encountered many times |
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eann014
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June 20, 2017, 05:21:12 AM |
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I think the biggest disadvantages of bitcoin is its fluctuation, also its slow confirmation and high transaction fees. These are the reasons why some users are complaining about with regards too slow to confirm the transactions that cannot accept or legalized by any stores globally.
Fees and delays really makes btc difficult to used this past days so we find an alternative coins that can transact easily and with no hassle. Its ok to pay high if we really get the deserve progress in sending transactions but more often its not, hoping btc can fix it soon when huge adoption happens. In our country we have a coins.ph that is really easy to use so that is what I used right now and there is no hassle at all. Maybe there are some requirements to do so that I can accept much higher amount of bitcoin but it is okay because that is also a security of my account. |
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cryptoinna
Newbie
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Activity: 8
Merit: 0
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June 20, 2017, 05:31:18 AM |
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For me the biggest disadvantage is low speed
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blueangel01
Sr. Member
Offline
Activity: 406
Merit: 250
Hello! Send me a message.
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June 20, 2017, 06:02:57 AM |
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There are several disadvantages of BTC. Bitcoin is still developing. It is not yet widely accepted and because of this its price is not yet stable. Its value is not predictable. Another one is you can lost your BTC if your data or wallets get corrupted with virus unlike in the banks, if your atm got stolen you can easily call and let your account freeze whereas in BTC, when you lose it theres no retrieving  |
Msg me if you want me to put anything here.
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jualidbitmixer
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June 20, 2017, 06:09:51 AM |
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I will try to count all that come to my mind.
1-) The transaction speed is very slow.
2-) Blockchain network is very busy.
3-) Transaction fees are very high. This is horrible!
Most worrying things I guess.
Agreed, but we can calculate most of them by increase the fee for our transaction. But blockchain is really ridiculous right now, the fee is really big even for small transaction. Not many people know about bitcoin also one of the big advantage of bitcoin, because bitcoin is not popular in some countries. |
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shone08
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June 20, 2017, 06:19:11 AM |
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I think the disadvantages of Bitcoin are the transaction fee is so high and slow, Uncertain Future No one can say with certainty what will come of bitcoin. As it remains today, bitcoin is very speculative as it is still an experimental type of technology.
Lack of recourse If you lose the wallet which had bitcoins stored in it, you have lost all of your bitcoins in that wallet. You cannot regain it and they are simply lost forever.
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itsallpc
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June 20, 2017, 09:07:09 AM |
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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 The biggest drawback is the high transaction fee and slow transactions when low fee is paid.It has made more companies and merchants to stand away from accepting bitcoin payments.It is said that it would be solved when segwit is implemented on April 1st. |
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