Tumanggor
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1xBit.. recovered their reputation
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September 22, 2017, 10:27:33 AM |
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that right , actually bitcoin is very good, I think only things like illegality and price stability are the only problems with bitcoin ..
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Heni23
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September 22, 2017, 10:32:00 AM |
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biggest losses bitcoin in my opinion that there is a certain limit of bitcoin so can not arbitrarily to produce bitcoin if there is a certain limit, so it is the biggest loss I think ...
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DoublerHunter
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September 22, 2017, 10:47:26 AM |
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biggest losses bitcoin in my opinion that there is a certain limit of bitcoin so can not arbitrarily to produce bitcoin if there is a certain limit, so it is the biggest loss I think ...
The limit of bitcoin is not a disadvantage because it is an advantage because of the fixed supply and also not fixed and growing demand then the price of bitcoin will go up even higher than the price right now and it will continue to go up until its price is already high enough for the investors to say so it is not a disadvantage for overall. |
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TheBTCAlex
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Back from Vacation!
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September 22, 2017, 10:50:43 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  Definitely there are many facts behind this cause. Probably the first and the biggest among these is the fact that bitcoin is extremely volatile, and as it is global, it is affected by almost any major news around the world, so its value keeps fluctuating, which makes investors unwilling to spend their money into bitcoin, thinking that their chances of losses will be higher than what it would be if they had invested in fiat, and it is true. That thus prevents bitcoin from mainstream adoption, which in turn also keeps the value of bitcoin from rising. Another factor is the fact that even in this modern age, around 60-70% of the people (on avg.), aren't even aware about bitcoin. Also, when some careless people get into bitcoin, and lose their money due to some scam they invested in or somehow they put a virus on their computer that caused their wallet to get hacked, and they go around spreading the rumor that bitcoin is just some HYIP/ponzi scheme. This in turn again hurts the value of bitcoin. So it goes on like this in this cycle, and will continue that cycle until these defects in the society are rectified. |
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ladydark
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September 22, 2017, 11:33:58 AM |
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Once,higher transaction fee and very slow confirmations in case of low transaction fee was a big issue in bitcoin network.But,now after activation of segwit,that problem has almost been solved and transactions are confirmed at very high speed at lower rates.But,the volatilty issue of bitcoin price continues to exist.Since bitcoin being a decentralized currency,its prices are totally decided based on the increase or decrease in demand for new bitcoins.Since there is no central body,its price could not be controlled to be stable.It is due to this volatiliy issue that most of traders do not come forward to accept bitcoin payments and mot countries have not yet legalized bitcoin.But the truth is that volatilty issue could not be solved.
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Wa(t)ch_night()
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Play2Live presale starts on 25th January
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September 22, 2017, 11:41:17 AM |
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The price of bitcoin is too unstable, because of this in many countries it is even banned or in many countries there is simply no opportunity to use it. People are not yet ready to adopt new technologies.
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Lenzie
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For campaign management, please pm me.
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September 22, 2017, 03:33:50 PM |
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The price of bitcoin is too unstable, because of this in many countries it is even banned or in many countries there is simply no opportunity to use it. People are not yet ready to adopt new technologies.
Yes. In short it was unpopular. Bitcoin is very volatile and popular. In my country I think 5 percent only kniw this. Because they are focused on a lot of other things. Another disadvantage of bitcoin is crime imposed by it. You can buy anything illegal without having to track how much money you have, or you use on buying those things. |
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ihsanskanzaone
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September 22, 2017, 03:41:39 PM |
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What do you think are the biggest disadvantages of Bitcoin?
I think the biggest bitcoin loss is bitcoin is still not many who understand the existence of virtual currency and there are still many people who do not believe because the explanation of the management of bitcoin community in the world has not been able to explain well about bitcoin and various benefits that can be by using bitcoin
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BossMacko
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September 22, 2017, 03:48:44 PM |
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For me the Biggest disadvantages of Bitcoin is that it has no physical form. It cannot be used in any physical stores, you need to convert it first to physical cash for you to use it on physical stores. But this advantage will be gone if only every one in the world will accept Bitcoin especially the government and known merchants.
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andrei56
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September 29, 2017, 10:10:57 PM |
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I think the biggest problem its not the bitcoin code, the biggest problem in this moment its the difficult to buy bitcoin from a safe exchange, the technical knowledge needed to set up a wallet, and the difficult to use a digital currency in the physical world.
Yes of course decentralized bitcoin is the biggest disadvantage .Apart from it many people still do not believe in bitcoin, because it is a virtual currency, I mean a crypto digital currency and has no physical structure. So peoplecannot see the volume of bitcoin. That’s why people do not believe in bitcoin. The other disadvantage is that bitcoin is in today’s era is just an imaginary coin. It is weird but I find this a lot, some people think that bitcoin is like the currencies that you get in those RPG games and treat it as if it is not real when in fact most of the transactions around the world are digital like, bank transfers, paypal, paying bills from your phone, credit card purchases and others. |
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komp1
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October 02, 2017, 02:21:04 AM |
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I consider one particular of the biggest down sides is the volume of time it takes to confirm a transaction, which will only become worse if one thing is not carried out about it.If you have any marketing and advertising encounter at all, you know the relevance of instantaneous gratification. It's why most Walmarts are still crowded with lengthy strains in spite of being in a position to get products the very same working day or subsequent working day with Amazon Key (in a lot of places).
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Kupid002
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October 02, 2017, 02:36:22 AM |
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I think the biggest problem its not the bitcoin code, the biggest problem in this moment its the difficult to buy bitcoin from a safe exchange, the technical knowledge needed to set up a wallet, and the difficult to use a digital currency in the physical world.
Yes of course decentralized bitcoin is the biggest disadvantage .Apart from it many people still do not believe in bitcoin, because it is a virtual currency, I mean a crypto digital currency and has no physical structure. So peoplecannot see the volume of bitcoin. That’s why people do not believe in bitcoin. The other disadvantage is that bitcoin is in today’s era is just an imaginary coin. It is weird but I find this a lot, some people think that bitcoin is like the currencies that you get in those RPG games and treat it as if it is not real when in fact most of the transactions around the world are digital like, bank transfers, paypal, paying bills from your phone, credit card purchases and others. yes thats right they dont see bitcoin as like that they know that it is just as an imaginary some think that this is not real scam or any negative thoughts about bitcoin. You can see the advantage of bitcoin if you believe on it. |
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Dannaey
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Merit: 100
Experience the Future of DeFi
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October 02, 2017, 05:22:58 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 I think the only thing that prevents Bitcoin to be accepted in all countries because of its anonymity. Being anonymous means they cannot track the identity of that address. So some genius people may use that characteristics of Bitcoin to use that for money laundering. It may be use by people in politics to hide their corrupted money. |
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dart vader
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October 02, 2017, 06:48:48 AM |
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Along with many advantages Bitcoin has some disadvantages also .The disadvantages of Bitcoin are listed below-
1-Bitcoins are not widely accepted.
2-Bitcoin market faces many ups and downs and its price keep on fluctuating.
3-It has no physical form so it has firstly to be converted into other currencies to use it in physical stores.
4- It is decentralized i.e. it is without any involvement of government so government will not accept it as only currency for financial transactions.
5- If wallets are lost then the Bitcoins are also lost and we cannot do anything to recover that.
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Fatanut
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October 02, 2017, 06:57:46 AM |
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Along with many advantages Bitcoin has some disadvantages also .The disadvantages of Bitcoin are listed below-
1-Bitcoins are not widely accepted.
2-Bitcoin market faces many ups and downs and its price keep on fluctuating.
3-It has no physical form so it has firstly to be converted into other currencies to use it in physical stores.
4- It is decentralized i.e. it is without any involvement of government so government will not accept it as only currency for financial transactions.
5- If wallets are lost then the Bitcoins are also lost and we cannot do anything to recover that.
2 and 4 are actually an advantage if you try to look from the right perspective. [2] Bitcoin has ups and downs and it's all up to you how are you going to deal with it. I, personally, deal with it by cashing out enough money for me to last a couple of weeks without having to withdraw any of my bitcoin funds. Even if bitcoin's price goes down, it will be alright because I don't need to cash out anyway. I can sleep at peace and don't have to panic sell. Other people also do trading so they can make money from price fluctuations. Buy low, sell high, it is. [4] Bitcoin is decentralized and is not controlled or owned by the government. Is that not exactly what we all want? Freedom from the government. The government gave us democracy but where it is (wow I just opened a broad topic). Anyway, since bitcoin is not owned by the government, we can freely do whatever we want to do with it. And bitcoin being decentralized means that it can't be taken down easily because it has no weak point and it has no central point that if that get destroyed, then we are all going down. Regarding #5, if you lost your wallet in real life, do you have a way to recover that? Only way to recover a lost wallet in bitcoin is to have the wallet's seed or the address' private key. |
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EiKaGlaShPriSAThWEl
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Merit: 10
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October 02, 2017, 07:25:52 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 I think one of the biggest disadvantage that preventing bitcoin from being accepted is that bitcoin is not yet known by all of the stores and person that exist. I also think because bitcoin price is not fix so if the price fall, stores and companies salary will also go down |
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Finestream
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October 02, 2017, 07:42:58 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 I think the only thing that prevents Bitcoin to be accepted in all countries because of its anonymity. Being anonymous means they cannot track the identity of that address. So some genius people may use that characteristics of Bitcoin to use that for money laundering. It may be use by people in politics to hide their corrupted money. As long as there are exchanges that is needed to facilitate the transactions of trading then the government can regulate it and can prevent if they do not want to support bitcoin. It's anonymity cannot be prevented as it is it's nature and also no one can shut down bitcoin entirely since we are run by different miners all over the world. This is a revolutionary system and people supported it because of its transparency and so I guess in the long run the government will be able to accept if they listen to us. |
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Maxsumi
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October 02, 2017, 07:45:41 AM |
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The primary disservice is the time taken for the affirmation of exchange. Step by step, time taken for affirmation is increasing.Another detriment is the precariousness and high variance in bitcoin price.For that reason, significant organizations abstain from tolerating bitcoin as installment. Indeed, even though,bitcoin is called as decentralized cash, china has a little control over bitcoin cost as it holds more bitcoins and more bitcoins are mined there. It is additionally a burden.
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domgamer
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October 02, 2017, 07:46:44 AM |
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As of now the biggest disadvantages is you can't spend it wherever you want unlike real currency.
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musharaf
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October 02, 2017, 07:55:03 AM |
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In my opinion the biggest disadvantage of bitcoin is universally acceptance and using in every country and every market for every product.
Most of the people are unaware about the current trend of digital currency.
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