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StonedWolf
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October 15, 2017, 10:31:23 AM |
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In my opinion bitcoin have three disadvantages :
1-Its very unstable value.
2-The funds are not always secured.
3-The fees having very high values.
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poisonivy77
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October 15, 2017, 11:20:05 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 disadvantages of bitcoin is that it is decentralized, it is not widely acceptable globally unlike fiat. another thing maybe its dependency on the internet once it goes down everything else about bitcoin will go down. |
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Peashooter
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October 15, 2017, 11:27:37 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 disadvantage that the bitcoins is facing right now is it's unstable market value. Due to high demand, the market value of BTC changes to keep up with other users and compete against other crypto currencies. Then there's the bad connotation that bitcoins are used for illegal stuff which made the rep to fluctuate also. |
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mindsports
Member
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Activity: 121
Merit: 10
Crypto Maximist
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October 15, 2017, 11:28:46 AM |
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Become still dont accept it. Also purchasing items with it are usually at a premium compared to fiat currency.
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Crypto_trader87
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October 15, 2017, 11:29:23 AM |
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The biggest disadvantage of bitcoin is if without enternet you cannot transact bitcoin anywhre in the world wothout enternet i hope someday developer can make such an apps that can transact bitcoin even an offline
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MS.LAWLIET
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October 15, 2017, 11:31:00 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 factors that preventing bitcoin from being accepted as mainstream payment form is that it's not used and known by everyone. second is that the businessmen are thinking that bitcoin value might fall when it's on their possession and it's not yet legal in most of the country around the world. |
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Rashid555
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October 15, 2017, 11:49:46 AM |
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It can’t be said that bitcoin has no disadvantages. There is one biggest disadvantage is that it has not legalized nature in the world like gold still many countries show positive response towards accepting this currency but there is always a fear in the heart. The other disadvantage of bitcoin is it is internet currency once there is no access of internet there will be no growth in the popularity of this online currency.
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kenkoy
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October 15, 2017, 01:04:38 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 First, Bitcoin is not really well known to public. In our country, there are only few completely knows and understand Bitcoin. Hence, there are no merchants who accept BTC as payment. The price of BTC is fluctuating so i believe there will be a problem on BTC conversion if used as payment. There are some issues on the delay on transaction on blockchain. |
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Ben.Lock
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Activity: 67
Merit: 10
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October 15, 2017, 01:17:37 PM |
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I think that at the moment the biggest did advantage is the fact the price volatility.
Until it won't be less volatile I can't see the currency going anywhere...
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leanhtuan
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Activity: 91
Merit: 10
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October 15, 2017, 01:59:43 PM |
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the biggest disadvantage of bitcoin which is not strictly controlled . i think it . Bitcoin was used too popular for goverments to controll amount of bitcoin
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God Fist
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Activity: 126
Merit: 25
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October 15, 2017, 02:09:39 PM |
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I believe that the biggest disadvantages are the very slow process of sending transactions and having to pay fees if you want it to be sent fast . fiat money doesn't suffer from that issue and this has to be fixed if bitcoin wants to be the top 1 currency in the world .
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Crypdon
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Activity: 616
Merit: 11
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October 15, 2017, 08:42:57 PM |
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Bitcoin is simply too volatile and too complicated for non-technical users. For it to become mainstream it needs to be made much more simple to earn/buy and also to spend.
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Nybhelle
Newbie
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Activity: 20
Merit: 0
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October 15, 2017, 11:34:13 PM |
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Bitcoin needs a internet connection,unfortunately no internet no bitcoin .And there is a possibility to be hacked.Many people have no idea about it,mostly some of them totally don't know and have doubt its existence.Bitcoin is also not used in some country,maybe this is one reason preventing of its popularity,this is one of bitcoin's disadvantage.The value of bitcoin still not stable. |
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nguyenanhvu
Newbie
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Activity: 37
Merit: 0
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October 16, 2017, 01:41:41 AM |
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i think the best disadvantages of bitcoin that is virtual coin , bitcoin can be mined eveywhere , so bitcoin don't be controlled strictly . people mine such
a much bitcoin that bitcoin will nerver be controlled .
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Tashi
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October 16, 2017, 03:56:36 AM |
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I think a number of things. - The fact that nobody can control it.
- The instability of the price.
- The inability to charge crazy bank like fees for using it.
- The fact that it is almost anonymous.
- It wasn't created by 'them'.
- Still a new technology, unproven.
- Has received a lot of negativity, bad press & illegal happenings.
These are just a few that come to mind right now. Additionally, not everybody has the access to bitcoin, some countries are banning as well. Also, people must have skills and should be alert when it comes to online scamming etc. Also one must have access to the internet. As well as it's worth is not stabilized. |
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Engand
Newbie
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Activity: 27
Merit: 0
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October 16, 2017, 07:57:02 PM |
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A few words and phrases – fees, costs, and expenses. And I don't believe SegWit will be generating any progress on that make a difference (it may well even make it even worse). I hope the developers are thinking rationally about this before blindly implementing something that might hurt bitcoin in the lengthy operate.
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tom101
Newbie
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Activity: 32
Merit: 0
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October 16, 2017, 08:08:38 PM |
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The main disadvantage of bitcoin is that the price of bitcoins is fluctuating very rapidly and the the account of bitcoins can be hacked. Bitcoin needs a internet connection, unfortunately no internet no bitcoin.
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ennovy22
Member
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Activity: 112
Merit: 100
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October 17, 2017, 06:42:31 AM |
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Cons of bitcoins:
1.Bitcoin's value is too volatile, it changes it's value every minute. But it's natural because it's a cryptocurrency.
2.Bitcoin is the black money that is used to buy on Darknet markets. Bitcoin can still be dangerous because some people using bitcoin to buy illegal drugs on Silk Road.
3. Many people thinks it's a fraud and illegal and used for online scamming.
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lethithuha
Newbie
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Activity: 38
Merit: 0
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October 17, 2017, 11:00:37 AM |
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i think the biggest disadvantages of bitcoin :
bitcoin can be controlled up and down in the floor . This is a difficulty of a trader .
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joekelly500
Newbie
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Activity: 25
Merit: 0
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October 17, 2017, 11:06:16 AM |
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The biggest disadvantages bitcoin has for now I think is the slow time of confirmation of transaction. Sometimes it takes hours or more just because there are too many transactions but I really hope transactions would be faster soon so that we can enjoy bitcoin more. I think if bitcoin transactions are real time no matter how many people use it for transaction daily, people might consider it to be used as replacement for credit cards.
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