Gamix
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March 09, 2018, 02:02:37 PM |
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High fees for using it as currency, high hack risks, high and uncontrollable volatility.
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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Vatimins
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Blue0x.com
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March 11, 2018, 08:41:12 AM |
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Bitcoin disadvantage is the fluctuation in the currency and might be hacked if proper care is not taken but the advent of TOR by Deeponion have prevent and safe guard members investment.
I beg to differ because the fluctuations can be either and advantage or a disadvantage depending on which side it fluctuates and for a longer time it has always appreciated and pushed towards growth and so it doesn't make it a disadvantage in any way. About hacking bitcoin, unless you don't understand how the blockchain functions you might be tempted to believe it can easily be hacked so i will urge you to read on in the forum as there are so many beautiful threads to get you started. You are absolutely right on point there man, clearly all of these dips that have happened in the past have only pushed bitcoins to have better prices later on when the storm passes. Now in regards to bitcoin's block chain being hacked, I really do not think so since it was obviously built greatly to withstand any attempts of hacking. The resources needed and the amount of effort in doing so just to be able to hack bitcoin's block chain is just too big and is really not worth it. Reading can really get you so far. everyone should do it. |
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mifanmuzny
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Activity: 294
Merit: 16
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March 11, 2018, 08:43:54 AM |
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The community is in shambles. No matter where you go, talk of bitcoin is full of anxiety, hate, vitriol and gnashing of teeth. If I woke up tomorrow morning and bitcoin had lost 90% of it's value, I'd first be shocked and horrified, and then I'd realize that I can join another community that works together, has dreams of an amazing future in crypto and is always improving... I'd let out a sigh of enormous relief and just be happy that the nightmare was over.
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bxxkj
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Activity: 132
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March 11, 2018, 08:45:22 AM |
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Bitcoin disadvantage is the fluctuation in the currency and might be hacked if proper care is not taken but the advent of TOR by Deeponion have prevent and safe guard members investment.
I beg to differ because the fluctuations can be either and advantage or a disadvantage depending on which side it fluctuates and for a longer time it has always appreciated and pushed towards growth and so it doesn't make it a disadvantage in any way. About hacking bitcoin, unless you don't understand how the blockchain functions you might be tempted to believe it can easily be hacked so i will urge you to read on in the forum as there are so many beautiful threads to get you started. I think the Bitcoin network is very robust, but Bitcoin trading platform is very fragile. The trading platform is usually a website, and the website can be hacked or closed by the competent authority. |
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Srenond
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March 11, 2018, 09:01:57 AM |
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Value change is a chance to influence benefits on the off chance that you to purchase at an ideal time and offer when cost goes higher then your entrance cost and you have to proceed with this procedure keeping in mind the end goal to make normal benefits and that is the most ideal approach to play bitcoins and we can't stand to miss even a solitary chance of making here and now benefits by not exploiting value instability.
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Jamie Oliver
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March 11, 2018, 09:03:13 AM |
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I think the biggest disadvantage BTC there should be no strict supervision mechanism, can't achieve one corresponds to an address, although decentralized encryption currency, but I also think it should be the system.
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SingAlong
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March 11, 2018, 09:34:41 AM |
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I think the biggest disadvantage of bitcoin is that it is still in the infancy stage it means there are many things that they need to develop in bitcoin. They need to polish all the incomplete features, tools,services and security before it comes with its full potential and final stage.
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rockstarr
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March 11, 2018, 10:04:23 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 fact that it is not controllable at first place, and secondly it is not yet known by everyone in the world, we are even not 2% of the world's population right now, so how come a government would bring something to a country where peope does not even know about it nor they know how to use it. It is also risky in terms of investment and hassle for the situation of being an online business which we trade and doing marketing of bitcoin crypto currency. |
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Barcode_
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APP下载sbapp.io
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March 11, 2018, 10:22:46 AM |
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I have seen quite a number of bitcoin users writing about their own stories on how they got their bitcoins stolen by hackers, I guess one disadvantage of bitcoin would be the constant needs to keep on scanning personal devices against malware or virus in order to safeguard our bitcoin wallet from hackers, this action could be time consuming in the long run but I would rather be safe than sorry.
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Xenoph0bia
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March 11, 2018, 10:25:52 AM
Last edit: March 11, 2018, 11:53:41 AM by Xenoph0bia |
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I have seen quite a number of bitcoin users writing about their own stories on how they got their bitcoins stolen by hackers, I guess one disadvantage of bitcoin would be the constant needs to keep on scanning personal devices against malware or virus in order to safeguard our bitcoin wallet from hackers, this action could be time consuming in the long run but I would rather be safe than sorry.
There are some disadvantages of bitcoin.Transactions fees is very high and is uneconomical.Bitcoin is decentralised. So it is not backed by any Central government or Central Bank.Bitcoin is very volatile so it does not guarantee any profit as its value can either go up or down any moment.Investing in Bitcoin is also very risky as our money can be lost in case there is a decrease in the price.It is based on blockchain technology and there are chances that it can be hacked. |
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cvcptit
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March 11, 2018, 10:37:14 AM |
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Btc is becoming more popular and the number of people trading so many
bitcoin disadvantages is
1. slow transaction speed
2. Fee is too high
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harobaru
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March 11, 2018, 10:39:08 AM |
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the biggest disadvantage of bitcoin is that criminal transfers large amount of money to buy weapons.
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rxthree
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March 11, 2018, 10:40:05 AM |
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In my opinion the main disadvantage of bitcoin is its usual volatility. In ordinary currencies losing 1% value in a single day can generate high pressure in local markets, but we can see in the bitcoin market frequent oscillations of 10% or more, and this mean a serious problem to use it as an ordinary currency.
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dyablo
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Activity: 191
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March 13, 2018, 05:35:39 AM |
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i think not stable price one of disadvantages and sometimes this is hurt for bitcoin users although huge price increase is happinest for user
The biggest disadvantage of bitcoin is its anonymity. This bitcoin's feature can be abused and use in doing illegal activities. |
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Bariannen
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March 13, 2018, 04:28:16 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.
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patrickreiner
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March 13, 2018, 05:09:25 PM |
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The biggest issue with bitcoin is that it uses Proof of Work. This makes it slow and also makes it so that miners are needed to verify transactions which use tons of electricity. The newer versions of crypto will use Proof of Stake which is far more efficient. Look at Cardano. This will be the first crypto to properly use proof of stake starting in Q2 2018.
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BitcoinMarketer39
Full Member
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Activity: 392
Merit: 100
ADABsSsSsSsSSSsS
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March 13, 2018, 05:16:32 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 Bitcoins is just the same as fiat and it can be used by everyone so it is possible that bitcoins can be used for illegal transactions and terrorist can benefit from hiding the transactions but still, it is just the same as fiat and even physical money can be used by terrorist so they should not ban cryptocurrency because it is helping people in their life. |
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btcminer6212
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March 13, 2018, 05:17:50 PM |
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In my opinion the main disadvantage of bitcoin is its usual volatility. In ordinary currencies losing 1% value in a single day can generate high pressure in local markets, but we can see in the bitcoin market frequent oscillations of 10% or more, and this mean a serious problem to use it as an ordinary currency.
Some could make a mistakes once but we must be careful for the next time, further the non reversible transaction could also be a disadvantage to some but for the majority it is one of the advantage of using bitcoin. That is the security that once we receive the funds after every completion of transaction, we are secured enough that it will not be taken again from us. |
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ikiscream
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March 13, 2018, 05:26:15 PM |
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maybe price volatility. and there are still many people who have not understood bitcoin.such as when difficulty handling transactions.
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Souldream
Legendary
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Activity: 1110
Merit: 1000
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March 13, 2018, 05:29:55 PM |
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maybe price volatility. and there are still many people who have not understood bitcoin.such as when difficulty handling transactions.
The most difficult one to predict is it's value, the volatility of bitcoin, the constant varies of value, the inconsistency of value of bitcoin which makes its investors and traders feel panicked and goes on panicked selling or buying. For me this is the biggest disadvantages of bitcoin, but in other aspects I didn't have any problem so far. |
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