Bitcoin Forum
December 15, 2017, 10:28:08 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 ... 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 [55] 56 57 »
  Print  
Author Topic: What is the biggest disadvantage of Bitcoin?  (Read 25027 times)
theunbeatable
Sr. Member
****
Offline Offline

Activity: 280


"Fueling Crypto Securitisation"


View Profile
November 26, 2017, 01:15:41 PM
 #1081

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

Thank you!

I think it's greatest disadvantage is that its in the code. And no code is safe. Its not a material and maybe it will be crack and will fade forever. Who knows? Anything can happen and through time technology is changing. Unlike gold that is being governed by the laws of nature and will be forever here. And thats a disadvantage, that we must remember. What is made by us humans can be destroyed. The only question ia when and how.

     ▄██████████▄▄
   ▄█████████████████▄      ▄▌
  █▀▀▀▀▀▀▀███████████████████
▐          ▀▀▀█████████████
       ▄███▀     ▀▀▀█████▀
    ▄█████  ▄▄▄█████
   ██████▀▀▀███████▌
▄███████   ███████▌
████████   ███████▌
████████   ███████▌
████████▌  ███████▌
▀████████  ███████▌
  ▀███████▄ ████▀▀▀        ▄▀
   ▀███████▌             ▄█▀
     ▀▀██████▄         ▄▀▀
        ▀▀▀███████▀▀▀▀
CyberTrust.io█ ██  █
  █ █ █
█  ██ █
  █ █
█ ██  █
█ █ █ 
   ██ █
█ █ █ █
  ██  
█ █ █ █
█  ██ 
█ █ █ █
████████████████████████████████████████████████████████████████████   ██████████████  ████              ██████████████         ████        ████    ███████
Fueling Crypto Securitisation
███████    ████        ████         ██████████████              ████  ██████████████   ████████████████████████████████████████████████████████████████████
█ ██  █
  █ █ █
█  ██ █
  █ █
█ ██  █
█ █ █ 
   ██ █
█ █ █ █
  ██  
█ █ █ █
█  ██ 
█ █ █ █
        ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
       ██▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀██
    ▄████████████████▄  ██
    ▀               ██  ██
▄███████████▄       ██  ██
██         █▀█▄     ██  ██
██         █  ▀█▄   ██  ██
██         █    ██  ██  ██
██  ▀▀▀▀▀  ███████  ██  ██
██              ██  ██  ██
██  ▀▀▀▀▀▀▀▀▀▀  ██  ██  ██
██              ██  ██  ██
██  ▀▀▀▀▀▀▀▀▀▀  ██  █████▀
██              ██ ▄█▀   
▀████████████████▀       
 
Announcement
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
Whitepaper
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513376888
Hero Member
*
Offline Offline

Posts: 1513376888

View Profile Personal Message (Offline)

Ignore
1513376888
Reply with quote  #2

1513376888
Report to moderator
1513376888
Hero Member
*
Offline Offline

Posts: 1513376888

View Profile Personal Message (Offline)

Ignore
1513376888
Reply with quote  #2

1513376888
Report to moderator
bitllionaire
Legendary
*
Offline Offline

Activity: 826


View Profile
November 26, 2017, 05:37:00 PM
 #1082

The biggest disadvantage of btc or cryto currency is being use to crimes because of its feature of anonimity which is so good in good way but really bad in crime use. Also the unpredicted fluctuation of it. Also the transaction time and fee as of the monent because it is so very huge and slow.
I think these are not to be consider as the disadvantage but we can call it as problems which can be solve with efforts, and i am hopeful that most of such kind of problems that we are facing while using bitcoin will be solve very soon. Because we are expecting bitcoin from good to better and from better to best. I am sure that in future bitcoin will be the most popular currency and will be use throughout the world in a good manner.

               ▄█▄
            ▄█ ▀█▀
     ▄ ▄███▄▄████▄▀ ▄▄▀▄
    ▀█▄████
██████▀▄█████▀▄▀
   ▄█▀▄
███████████████████▄
 ▄██▀█▀
▀▀▀███▀▀▀█████▄▄▄▀█▀▄
 ▄█▀▀   ▀█
███▀▄████████ █▀█▄▄
██▀  ▀ ▀ ▀
██████████▄   ▄▀▀█▄
     ▀ ▀
  ███▀▀▀▀▀████▌ ▄  ▀
          ████████████▌   █
        █████████████▀
        ▀▀▀██▀▀██▀▀
           ▀▀  ▀▀
.BTC-GREEN.       ▄▄████████▄▄
    ▄██████████████▄
  ▄██████
██████████████▄
 ▄███
███████████████████▄
▄█████████████████████████▄
██████████████████████████
███████████████████████████
███████████████████████████
▀█████████████████████████▀
 ▀███████████████████████▀
  ▀█████████████████████▀
    ▀█████████████████
       ▀▀█████████▀▀
.Ecological Community in the Green Planet.
❱❱❱❱❱❱     WHITEPAGE    |    ANN THREAD     ❰❰❰❰❰❰
           ▄███▄▄
       ▄▄█████████▄
      ▄████████████▌
   ▄█████████████▄▄
 ▄████████████████████
███████████████▄
▄████████████████████▀
███████████████████████▀
 ▀▀██████▀██▌██████▀
   ▀██▀▀▀  ██  ▀▀▀▀▀▀
           ██
           ██▌
          ▐███▄
.
GoodLuck2
Sr. Member
****
Offline Offline

Activity: 308



View Profile
November 26, 2017, 07:39:24 PM
 #1083

The biggest disadvantage of bitcoin is very unstable and the price of it keeps changing rapidly compared to other currencies which are very stable.
Also many people were not totally aware in bitcoin due to lack of Technology in different parts of the world that makes bitcoin difficult to accept as Global currency.
It is not the disadvantage because the bitcoin is helping a lot of the people just because of the changing of the price. The price of the bitcoin is increasing and this is the reason why the people buy the bitcoin so if the bitcoin price will not increase the people will not buy the bitcoin and they will not trust the currency as well because the bitcoin is now helping a lot of the people now.

cazkooo
Legendary
*
Offline Offline

Activity: 980


View Profile
November 26, 2017, 08:05:51 PM
 #1084

There are two disadvantages ,first its pow,thus transaction speed take lot of time and hence fee is high .second there is no transactions records just anonymous transfer which has led to late acceptance of bitcoin by countries.and using of bitcoin is not possible for everyone only IT related person can understand it .

Which is why alot of hardfork happen. There will be tons of hardfork in the future, Im not complaining everything about it but people are not really going to be science rocket smart to know how to use bitcoin. Bitcoin is easy to use only if you wish to learn some basic about it . It is not really a disadvantage when it comes to people that dont want to learn about it
OuterTech
Full Member
***
Offline Offline

Activity: 140


INS Ecosystem


View Profile
November 26, 2017, 08:25:52 PM
 #1085

I think the biggest disadvantage of Bitcoin at the moment is it take too long to complete a transaction, because the mining difficulty of Bitcoin is really high at the moment so it'll take longer time to mine a block so Bitcoin transaction will get confirm slower.

Razick
Legendary
*
Offline Offline

Activity: 980


★Jetwin.com★


View Profile
November 26, 2017, 09:58:57 PM
 #1086

The biggest disadvantage of Bitcoin right now is most certainly the fact that it takes so incredibly long to send BTC compared to other forms of payment such as VISA and PayPal. There is no valid reason in my eyes why BTC should not be the currency we use to buy everyday things going forward. IT just doesn't make sense for it NOT to be. I think we need second layer solutions asap because otherwise another better coin is going to come and take it over. Let us all hope that doesn't happen!


▄▄▄████████▄▄▄
▄▄███▀▀▀ ▄  ▄ ▀▀▀███▄▄
▄██▀▀ ▄▄████  ████▄▄ ▀▀██▄
▄██▀ ▄███████    ███████▄ ▀██▄
██▀ ▄████████▀    ▀████████▄ ▀██
██▀ ██████████      ██████████ ▀██
██▀ ██████████        ██████████ ▀██
▄██                                ██▄
██ ▄                              ▄ ██
██ ███▄                        ▄███ ██
██ ██████▄                  ▄██████ ██
██ ▀████████              ████████▀ ██
▀██ ███████                ███████ ██▀
██▄ █████▀                ▀█████ ▄██
██▄ ████        ▄▄        ████ ▄██
██▄ ▀█      ▄▄████▄▄      █▀ ▄██
██▄    ▄▄██████████▄▄    ▄██▀
▀██▄▄ ▀▀██████████▀▀ ▄▄██▀
▀▀███▄▄▄ ▀▀▀▀ ▄▄▄███▀▀
▀▀▀████████▀▀▀
 

    [    ]
krigger
Sr. Member
****
Offline Offline

Activity: 364

★Jetwin.com★


View Profile
November 26, 2017, 11:04:13 PM
 #1087

Probably, the person itself or jusy say hackers. Bitcoin is not that highly secured. Once you've made a transaction into wrong person you will be devastated or once your virtual wallet is not secured enough, there are some hackers are highly skilled enough to get your information in bitcoin. Make sure that everything is secure because of the high price today of bitcoin, it is prone to hackers
But several solutions have been immerged to keep your bitcoins safe. Instead of storing your bitcoins in a low security wallet, you can simply store them in a hardware wallet or paper wallet or you can try using 2FA security for your wallet. Bitcoins can not be hacked that easily unless you share your private key with any unknown person. Also if you send bitcoins to a wrong address, they are lost eventually so mostly try to recheck the wallet address to keep yourself safe.


I think it is extremely sad that most people are unaware about how paper wallets work.

If they only knew, imagine how many people would not have lost or had their Bitcoins hacked and/or stolen from them?

Paper wallets are the most secure way of storing BTC yet they are the least promoted. I think it is because business want people to hold Bitcoin on their wallets to profit from it, and this is asking to lose everything because eventually those business will likely die just like most do in the crypto world. It is rare for any crypto business to last more than 5 years.


▄▄▄████████▄▄▄
▄▄███▀▀▀ ▄  ▄ ▀▀▀███▄▄
▄██▀▀ ▄▄████  ████▄▄ ▀▀██▄
▄██▀ ▄███████    ███████▄ ▀██▄
██▀ ▄████████▀    ▀████████▄ ▀██
██▀ ██████████      ██████████ ▀██
██▀ ██████████        ██████████ ▀██
▄██                                ██▄
██ ▄                              ▄ ██
██ ███▄                        ▄███ ██
██ ██████▄                  ▄██████ ██
██ ▀████████              ████████▀ ██
▀██ ███████                ███████ ██▀
██▄ █████▀                ▀█████ ▄██
██▄ ████        ▄▄        ████ ▄██
██▄ ▀█      ▄▄████▄▄      █▀ ▄██
██▄    ▄▄██████████▄▄    ▄██▀
▀██▄▄ ▀▀██████████▀▀ ▄▄██▀
▀▀███▄▄▄ ▀▀▀▀ ▄▄▄███▀▀
▀▀▀████████▀▀▀
 

    [    ]
primera
Sr. Member
****
Offline Offline

Activity: 247


View Profile
November 27, 2017, 02:23:12 AM
 #1088

Price volatility absolutely. Rapid price spikes and drops leave people uncertain what a bitcoin is going to be worth any given day, which makes saving incredibly difficult if not impossible. The point of saving is to create safety and stability, which is why you can't save effectively in a risky asset. So while the price of bitcoin rising rapidly attracts traders and a lot of attention, it doesn't do anything towards making bitcoin stable or useful as a currency, which is what a lot of people say they want. (Although, if they're attracted to btc because of the volatility, I tend to doubt that.)

angelolazaro
Newbie
*
Offline Offline

Activity: 14


View Profile
November 27, 2017, 02:31:08 AM
 #1089

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

Thank you!
For me, the biggest disadvantge of bitcoin is it can be use to buy illegal things such as guns, drugs, hiring a hitman and many more in the internet. Thats why there are some countries that already banned bitcoin in their place. Maybe because there are some cases that bitcoin is the reason why the rate of crimes increase in a certain place.
Saveplus
Member
**
Offline Offline

Activity: 98


View Profile
November 27, 2017, 02:42:25 AM
 #1090

The biggest disadvantage of Bitcoin  is price is volatile and we did not know how we are stable now but I am looking forward that it will be stay forever to help many people in their income.And those hackers that come, we cannot say the safety and being secured for our investments.

Granxis
Sr. Member
****
Offline Offline

Activity: 448


★Bitvest.io★ Play Plinko or Invest!


View Profile
November 27, 2017, 03:12:11 AM
 #1091

The biggest disadvantage of btc or cryto currency is being use to crimes because of its feature of anonimity which is so good in good way but really bad in crime use. Also the unpredicted fluctuation of it. Also the transaction time and fee as of the monent because it is so very huge and slow.
If the criminals make a robbery with the violin, will the violin be illegal? Of course not, so we should not consider such rumors, Bitcoin may have been used in bad times in the first place. It's also very annoying that transaction fees are high, so this problem will never be solved.



BITVEST DICE
HAS BEEN RELEASED!


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████
▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░▄███
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████
██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░
▀██░▄▄▄▄░████▄▄██▄░░░░
▄████████████▀▀▀▀▀▀▀██▄
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄
▀██░████████░███████░█▀
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████
▀████████████████████▀




Rainbot
Daily Quests
Faucet
kobe24
Sr. Member
****
Offline Offline

Activity: 266



View Profile
November 27, 2017, 03:28:31 AM
 #1092

Biggest advantage is sometimes transactions take so long and it can used for criminal acts like buying drugs with bitcoin or you can hire a hitman paying him in bitcoin.

.

███████████████████████
███████████████████████████
█████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
█████████████
██████████████
██████████████
██████████████
██████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
█████████
███████████████
████████
████████████████████
█████████
██████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
█████████████████████████████
███████████████████████████
███████████████████████












Spradlin
Newbie
*
Offline Offline

Activity: 12


View Profile
November 27, 2017, 04:06:25 AM
 #1093

Many of them don'thaveknowedgeble aout bit cash. They ought to browse the basic way of bitcoins. Like the way we Commit and gambling and so on.  lab
btsjimin
Member
**
Offline Offline

Activity: 84


View Profile
November 27, 2017, 11:02:46 AM
 #1094

The biggest disadvantage of bitcoin are Lack of awareness, No physical form, Bitcoins are not widely accepted, Wallets can be lost, and No valuation guarantee.

C
What is C?
corroze
Sr. Member
****
Offline Offline

Activity: 294



View Profile
November 27, 2017, 02:35:10 PM
 #1095

I think the biggest disadvantage of Bitcoin lies in the transaction costs and the confirmation time is quite longer,but over the walking time I think this will be fixed and other Bitcoin weakness,is not yet a lot of payments that use Bitcoin because Bitcoin not yet legitimate.



             ▄█
            ██  ██
           ██  ████
          ██  ██  ██
         ██  ██    ██
        ██  ██  ██  ██
       ██  ██    ██  ██
      ██  ██  ██  ██  ██
     ██  ██  ████  ██  ██
    ██  ██  ██  ██  ██  ██
   ██  ██  ██    ██  ██  ██
  ██  ██  ██████████  ██  ██
 ██                    ██  ██
█████████████████████▄  ██  █
                         ██
▀███████████████████████████




█████ █   █ █████      ███          █████████████▄▄    ████            ████     ▄▄██████████      ▄▄██████████
  █   █   █ █         █████         ████████████████    ████          ████     █████████████     █████████████
  █   █████ █████    ███████        ███         ▀███     ████        ████     ███▀              ███▀
  █   █   █ █        ███ ███        ███          ███      ████      ████      ███               ███
  █   █   █ █████   ███   ███       ███          ███       ████    ████       ███               ███
                    ███   ███       ███         ▄███        ████  ████        ███▄              ███▄
                   ███     ███      ██████████████▀          ████████          ██████████▄▄      ██████████▄▄
                   ███     ███      ██████████████▄           ██████            ▀▀██████████      ▀▀██████████
                  ███       ███     ███         ▀███           ████                      ▀███              ▀███
                  █████████████     ███          ███           ████                       ███               ███
                 ███████████████    ███          ███           ████                       ███               ███
                 ███         ███    ███         ▄███           ████                      ▄███              ▄███
                ███           ███   ████████████████           ████           ██████████████    ██████████████
                ███           ███   █████████████▀▀            ████           ███████████▀▀     ███████████▀▀

█  █
█  █
█  █
█  █
█  █
█▄▄
▀▀█
█  █
█  █
█  █
█  █
█  █

█  █
█  █
█  █
█  █
█  █
█▄▄
▀▀█
█  █
█  █
█  █
█  █
█  █
PRE-SALE      : Nov 29 2017
TOKEN SALE : Dec 12 2017

ANN Thread  ■  Whitepaper
■  Twitter
■  Telegram
■  Facebook
moynul2050
Full Member
***
Offline Offline

Activity: 224



View Profile
November 27, 2017, 03:24:03 PM
 #1096

1. Too easily exposed to negative issues
2. Fee is very expensive
3. Too often Hargdfork but the speed of the transaction has not changed
4. Too easy to monopolize by whales

expless
Member
**
Offline Offline

Activity: 84


View Profile
November 28, 2017, 07:11:07 AM
 #1097

For me the biggest disadvantage of bitcoin is the security issue because there is no binding contract between you and bitcoin.
Lol, This is the biggest advantage of bitcoin that it is not controlled by governments. Governments are highly corrupt and they are always trying to control the wealth of public and does not want people to live a life of full economic freedom.

People are investing into bitcoin because there is no involvement of third party in the using or dealing with the currency. There is no need to resist investment into bitcoin just because of this silly reason.
MarioLuck990
Full Member
***
Offline Offline

Activity: 125


View Profile
November 28, 2017, 08:58:59 AM
 #1098

Disadvantage to who? Investors? Users? developers?

One of the characteristics of altcoins today (including bitcoin) is their volatility.
It could be an advantage for traders, but it's clearly a disadvantage for "normal" users (the public).


Miners, there are only few mining farms in China that control the whole thing. If these farms go down , BTC is dead.
BTC has become a centralized bankers like coin, worse than fiat with all these forks.

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
▽  TRADE.IO  ▽     ║     WHITEPAPER  •  ANN THREAD  •  TELEGRAM     ║     JOIN THE TRADING REVOLUTION
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
Activitycoin
Member
**
Offline Offline

Activity: 98

★Jetwin.com★


View Profile
November 28, 2017, 11:26:03 AM
 #1099

There are two disadvantages ,first its pow,thus transaction speed take lot of time and hence fee is high .second there is no transactions records just anonymous transfer which has led to late acceptance of bitcoin by countries.and using of bitcoin is not possible for everyone only IT related person can understand it .
I think bitcoin have only two disadvantages and the first one is that bitcoin have no physical shape or logo because you can’t see and fell bitcoin and secondly bitcoin is only available on internet if you have internet then its mean you will have a bitcoin but if you don’t have internet then there will be no bitcoin with you so I hope bitcoin will find some other way to fix this problem because everyone love bitcoin and they want to see it.

babybit2
Jr. Member
*
Offline Offline

Activity: 34


View Profile
November 28, 2017, 11:40:05 AM
 #1100

The biggest disadvantage is that no one wants to spend it and they never will. It's an incredible store of value though, much like gold used to be.

Pages: « 1 ... 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 [55] 56 57 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!