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requester
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February 11, 2017, 02:01:56 PM |
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yes in my view the biggest disadvantage is its disability to surpass quantum computing. I had read several articles mentioning the bitcoin will get destroyed by quantum computing, but still the technology is in development stage so we cant say anything about it.
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delliaerd
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February 11, 2017, 02:08:32 PM |
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the biggest disadvantaged of Bitcoin for menis it's confirmation time well we know that those people who pay higher fee will get their transaction confirmed easily but how about thise who are just in regular transaction and don't want to spent extra money Bitcoin confirmation time will be very slow ai think .
I agree with you . that time confirmation of bitcoin is currently experiencing serious delays. even many people who have experienced this disappointment. Now is the time we look for a solution, because if it is not resolved then this will have a major impact on the future development of bitcoin. In the future I'm sure Bitcoin will grow and be able to resolve that issue. Of course, waiting for confirmation of transaction quite a long time very disturbing, but for now there is no other choice neither patient to wait or pay more fees. When you are in urgent transactions, why not to pay double or 50% more than usual fees. |
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Carmen_Sandiego
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February 11, 2017, 02:18:10 PM |
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I think the biggest disadvantages of bitcoin right now is that there's not many merchant who accept bitcoin as a payment method. The other disadvantages is the transaction speed, the confirmation can take a lot of time sometimes.
how can you say that this is the disadvantage of bitcoin. i think bitcoin is still not so much mature it still need a good time to become more famous. i think it will still take some time when merchants will accept bitcoin and will do trade in bitcoin. the transaction problem will also be solved very soon. the absence of many merchants who accept bitcoin as some countries do not accept bitcoin as legal payment so they did not dare to do it. bitcoin transactions can not be canceled even though is still 0 confirmation it will definitely be sent I think the problem is that many merchants would not accept zero confirmation, so it is necessary to implement solutions that allow Bitcoin to scale more efficiently and allowing users to be able to perform transactions faster. There are different solutions at the moment, and I think lightning network is something that can work. |
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Vikingr
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February 11, 2017, 02:44:48 PM |
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the biggest disadvantaged of Bitcoin for menis it's confirmation time well we know that those people who pay higher fee will get their transaction confirmed easily but how about thise who are just in regular transaction and don't want to spent extra money Bitcoin confirmation time will be very slow ai think .
When more people will adopt bitcoin and more advancement will come then the developers will also do more work for the advancement of bitcoin so in the coin future when more people will come to adopt bitcoin then the confirmation will also be not a problem. |
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Fatanut
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Activity: 1008
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February 11, 2017, 04:15:24 PM |
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yes in my view the biggest disadvantage is its disability to surpass quantum computing. I had read several articles mentioning the bitcoin will get destroyed by quantum computing, but still the technology is in development stage so we cant say anything about it.
I think you're referring to this article or something that's like that. You should've read the comment section and see the people calling the website as "rubbish". Although quantum computing has been a thing for a long time, they are not appearing any time soon. There are new algorithms that are being developed to make computer stuffs "quantum safe" and it's basically a race between the two (development of the algorithm and the making of quantum computer). If the quantum computer goes first, we are doomed that someone would be decrypting the private keys of our wallet addresses. |
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bob123
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February 11, 2017, 05:05:33 PM |
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In my opinion the 2 biggest disadvantages are:
1) The unstable Confirmation time (Kinda hard to be realized in a fixum of 10-minutes of 1-minute)
2) The unstable prize.. because its not widely accepted as Currency, more as a stock.. But BTC actually reacts like a currency on FIAT falls/rises
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xSkylarx
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February 11, 2017, 08:03:31 PM |
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For Bitcoin to become mainstream it should change the entirely current financial system and that is not easy and can't be done over night.
Bitcoin is stil considered to be something new and experimental, it's cryptocurrency which time is yet to come.
And also the sudden change of bitcoin price could also be the reason why they don't accept it as payment, And also cause the government can't control it and it doesn't have fee. |
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mrkevio
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February 11, 2017, 08:25:34 PM |
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In my opinion the 2 biggest disadvantages are:
1) The unstable Confirmation time (Kinda hard to be realized in a fixum of 10-minutes of 1-minute)
2) The unstable prize.. because its not widely accepted as Currency, more as a stock.. But BTC actually reacts like a currency on FIAT falls/rises
Bitcoin reacts on more than just fiat falls or rises. It basically goes up and down depending on what happens around the world. While that is awesome for traders (and for me, because it's always going to be unexpected), there are some bad things about it.. For example, if something like Bitfinex happens, Bitcoin is going down a lot, the mainstream media is writing all this stuff about Bitcoin and people will be afraid to ever invest in it... |
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positivezero
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February 11, 2017, 08:28:16 PM |
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Well for me, the biggest disadvantage/s of bitcoin is that when the price is always change time to time. But as my point of my view, being the price is not stable, its okay since it is the center attraction of bitcoin. Also some of the confirmations are delayed sometimes
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HaXX0R1337
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February 11, 2017, 10:05:34 PM |
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I think the biggest disadvantages of bitcoin right now is that there's not many merchant who accept bitcoin as a payment method. The other disadvantages is the transaction speed, the confirmation can take a lot of time sometimes.
Transaction speed is the major concern and the ever increasing transaction charges will be a problem in the future apart from that i do not find any issue with the coin and majority of the merchant might not accept bitcoin as a payment mainly because of the high volatile nature of the coin. |
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sasukemystery
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February 11, 2017, 10:09:37 PM |
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Not a very mainstream form of payment and the waiting time I guess.
Although imo, I prefer it a lot more than say, Paypal.
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Gameroid
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February 11, 2017, 10:16:17 PM |
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I think the biggest disadvantages of bitcoin right now is that there's not many merchant who accept bitcoin as a payment method. The other disadvantages is the transaction speed, the confirmation can take a lot of time sometimes.
Transaction speed is the major concern and the ever increasing transaction charges will be a problem in the future apart from that i do not find any issue with the coin and majority of the merchant might not accept bitcoin as a payment mainly because of the high volatile nature of the coin. but i do not think that there is any disadvantage of bitcoin. i think a minor problems are there facing by bitcoin but i think these problems can be over come very easily. |
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HarringtonStark
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February 12, 2017, 04:30:46 AM |
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In my opinion, the biggest disadvantage of bitcoin is that a payment can't be reversed once it is sent so you have to triple check the address to be sure it is correct.
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lottery248
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beware of your keys.
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February 12, 2017, 04:40:06 AM |
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In my opinion, the biggest disadvantage of bitcoin is that a payment can't be reversed once it is sent so you have to triple check the address to be sure it is correct.
the structure of an address is very complicated, which you cannot simply type a random combination to send bitcoins, which prevents sending anything to a wrong address. unless you are unable to use "copy and paste", it is unlikely a matter. for the new users, it surely is. |
out of ability to use the signature, i want a new ban strike policy that will fade the strike after 90~120 days of the ban and not to be traced back, like google | email me for anything urgent, message will possibly not be instantly responded
i am not really active for some reason
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ilovefeetsmell
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February 12, 2017, 08:02:15 AM |
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The biggest disadvantages of Bitcoin was wallets can be lost. It easily disappears our bitcoin in one click. No one couldn't control our bitcoin. Many governments against the bitcoin because they couldn't earn a profit which multiplied the user of bitcoin. Use the bitcoin wisely.
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Gembul
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February 12, 2017, 08:26:04 AM |
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The biggest disadvantages of Bitcoin was wallets can be lost. It easily disappears our bitcoin in one click. No one couldn't control our bitcoin. Many governments against the bitcoin because they couldn't earn a profit which multiplied the user of bitcoin. Use the bitcoin wisely.
I think if you ccontrol the wallet intact. By having the wallet detail intact as private keynya, we know cant get that detail of a wallet that we use in the exchanger. So I suggest to use bitcoin wallet and known that private key. I personally use a wallet from blockchain, there if we forget our password wallet we can access with password recovery methods. Thank you. |
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Vikash kumar
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★777Coin.com★ Fun BTC Casino!
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February 12, 2017, 08:45:49 AM |
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I am using bit coin and is also using by almost person today due its good properties .it is very useful site which provides digital money to users but there are some its disadvantages that its transaction process can not easily understand by an ordinary person and nobody can create double account on bit coin site ,lack ness of merchant for accepting the bit coin.
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Zadicar
Legendary
 Online
Activity: 1386
Merit: 1020
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February 12, 2017, 08:52:03 AM |
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I am using bit coin and is also using by almost person today due its good properties .it is very useful site which provides digital money to users but there are some its disadvantages that its transaction process can not easily understand by an ordinary person and nobody can create double account on bit coin site ,lack ness of merchant for accepting the bit coin.
No one could really make double account on bitcoin as far as i know you are referring on bitcoin wallet address. Merchant that do accept bitcoin is only a few as of these days but definitely it would gradually increase on the future because bitcoins adoption is progressing. |
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Cashew
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February 12, 2017, 09:00:40 AM |
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For me the biggest disavantage to a global distribution is that one can not buy bitcoins easily. Solve that and you will have many many newcomers.
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bravehearth0319
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February 12, 2017, 12:10:44 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  I guess the disadvantages of Bitcoin that need to be improve was the confirmation in the blockchain, most people in bitcoin world facing this circumstances most often in every time of doing transactions. I hope this thing will be resolve someday. |
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