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Author Topic: What is the biggest disadvantage of Bitcoin?  (Read 25544 times)
shalnark
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November 22, 2017, 02:40:37 PM
 #1041

I think bitcoin has no disadvantage because bitcoin is very useful to alot of people especially in paying.Cashless,Effortless and you dont have to worry if you have no money.Especially bitcoin in this site you can earn big and I believe that bitcoin has no disadvantage.
I think there are two disadvantages of bitcoin first thing is that bitcoin is only available on internet if you have internet so its mean you have bitcoin but if you have no internet there will be no bitcoin and secondly there is no physical shape of bitcoin or any logo because people love bitcoin and they want to use bitcoin any time any place.
That is true we can access the bitcoin using internet, so if you have NO internet you cannot use bitcoin. Aside from that you may not know regarding all about bitcoin.
I think for now the one biggest disadvantages of Bitcoin is lacking of internet connection and another disadvantanges of bitcoin if this cryptocurrency goes down and down the value!. Many people has been affected.

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November 22, 2017, 02:42:20 PM
 #1042

well for me the biggest disadvantage is some public transfer money or money exchanger will get bankcrupt because of bitcoin some people may also will got no job anymore because of the fired in their work in the remitance like that.

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November 22, 2017, 03:15:55 PM
 #1043

Hi guys! May I know what you think is/are the biggest disadvantage/s of Bitcoin? Or cryptocurrency in general?

Thank you!
after learning about minning you are probably wondering what the overall advantages and disadvantages of Bitcoin are accepting bitcoins because of the advantages but the list is retively small compared to physical currencies.This is mostly due to the fact that bitcoin is still retively young and new currency people are just beginning to become a more aware of it.
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November 22, 2017, 03:31:14 PM
 #1044

I think biggest disadvantage of Bitcoin is high transaction fee and it take too long to complete a transaction. Beside Bitcoin is easily taken advantage to commit guilty by crimes.

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November 22, 2017, 03:31:51 PM
 #1045

its slowness and its cost of operation, bitcoin has an outdated technology.
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November 22, 2017, 03:33:25 PM
 #1046

I think the biggest disadvantage of Bitcoin is its lack of Bitcoin acceptance and many stores that stop receiving Bitcoin as a means of payment,but do not rule out if Bitcoin,will be popular someday.
This requires a process whereby they start using Bitcoin again to make money and as well as a means of payment,and the biggest loss of Bitcoin others is the loss of Bitcoin users.

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November 22, 2017, 03:35:20 PM
 #1047

when electric power in your city is not available. keep in mind that BTC can only be mine and use with the use of technology. you cant signature campaign because of cute, little power. Smiley
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November 22, 2017, 08:52:19 PM
 #1048

Government cannot control it because it is decentralized so it does not have any government support.So this factor is still making some people to think before investing in it .This is the biggest disadvantage of Bitcoin.

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November 22, 2017, 09:27:00 PM
 #1049

In my opinion bitcoin disadvantage  knowing no internet we can't used bitcoin, no physical appearance, decentralized form no authority involved so no money back guarantee.

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November 22, 2017, 09:39:30 PM
 #1050

For me the biggest disadvantage of bitcoin is the security issue because there is no binding contract between you and bitcoin.
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November 22, 2017, 09:44:46 PM
 #1051

I'd say depends on miners to verify,
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November 22, 2017, 09:47:50 PM
 #1052

Hi guys! May I know what you think is/are the biggest disadvantage/s of Bitcoin? Or cryptocurrency in general?

Thank you!

The time it takes to get to the next person is what concerns me the most. The fee is probably a close second though they need to scale bigger and better for it to be viable for everyday purchases.

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November 22, 2017, 10:00:39 PM
 #1053

For normal user like guy which wants to pay for daily things via bitcoin downs are the most disadvantage.

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November 22, 2017, 10:25:32 PM
 #1054

The biggest disadvantage of bitcoin is that it is highly unpredictable. Its value today is increasing but it may go down to a landslide any time.
There is nothing we can do to avoid that, bitcoin is a new technology and like any new technology at first there are many errors and bugs in a way we are the beta testers of bitcoin then finally when bitcoin is able to perform its original functions then everyone else will get in.



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November 23, 2017, 10:15:35 PM
 #1055

It's its PRICE.It will by no means go down, just increase due to its shortage.So you don't know whether it's really worth buy something now or you could purchase it twice a month later on. Then you just hold.If so we don't possess a electronic curriency because we don't utilize it being fear of its value I think
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November 23, 2017, 10:22:51 PM
 #1056

For me the biggest disadvantage of bitcoin is the security issue because there is no binding contract between you and bitcoin.
if I think it is a weakness bitcoin it in account security, that's why with a lot of bitcoin thieves it's a sign for us all it should strengthen the security of our account and avoid the wifi network and do not click any link is the most important

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November 23, 2017, 10:26:26 PM
 #1057

The biggest disadvantage is it has been involved many mining factories and easy too much electricity to mine it. Bad for our environment, so it is a digital currency but have a very high CO2 elimination,. Cry

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November 24, 2017, 03:23:04 PM
 #1058

Due to the unique nature of virtual currencies, there are some inherent advantages to transacting through Bitcoin that users of other currencies do not get. Digital currencies are a relatively new and untested medium of exchange, and users should be careful to weigh their benefits and risks.
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November 26, 2017, 07:57:10 AM
 #1059

The biggest disadvantage of Bitcoin is that is relies on the internet, which unfortunately makes it questionable as to whether it is better than gold (or not).

Gold does not rely on anything. It is a physical item, and that is it. However, if governments were to shut off the internet, or you did not happen to have internet at any given time, then Bitcoin would be useless.
There are none, since it is preposterous to consider detriments of bitcoin. Bitcoin's value, achievement and its acknowledgment by the online world are the upsides of bitcoin. It has many including tending to the constant issues that can happen in exchanges. It is secure and decentralized which mean it is sheltered to have and isn't controlled by single government, association or a man.

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November 26, 2017, 08:43:57 AM
 #1060

I think the advantage of bitcoin is increasing your income here every rank up you, it's not just popular with other people so nobody does not have the bibitcoin. and I also believe that you can earn a great deal of money on other sites.

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