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Author Topic: What is the biggest disadvantage of Bitcoin?  (Read 25027 times)
jasonjm
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July 19, 2017, 02:55:41 PM
 #121

The biggest problem of bitcoin is its transaction fee and confirmation time. Another main problem with bitcoin is its price volatility and due to which it is the possibility that it may crash, i am hoping it will not.

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July 19, 2017, 04:15:43 PM
 #122

The biggest problem of bitcoin is its transaction fee and confirmation time. Another main problem with bitcoin is its price volatility and due to which it is the possibility that it may crash, i am hoping it will not.
Actually, I haven't experienced the delays of transaction because it comes on time but maybe depending on the connection of your internet is the problem so fix it well. Well I guess the biggest disadvantage of bitcoin is the inconsistent value of it because it drops several times and slowly rises. Many people will surely panic and left. Regardless of that, others are keep holding just like me.

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July 19, 2017, 04:17:30 PM
 #123

Tx fee nd tx time.

But hopefully this issue will be fixed in a few days  Cheesy

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July 19, 2017, 04:45:51 PM
 #124

One of biggest disadvantage of Bitcoin is volatility, lots of stores stopped accepting bitcoin as payment because of that, also slow transactions (scalability issue ) and high fees.
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July 19, 2017, 10:23:09 PM
 #125

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).

The disadvantage of bitcoins to the users are they couldn't focus on the job they have. The time are wasted for internet

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July 19, 2017, 10:41:06 PM
 #126

being deflationary.

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July 19, 2017, 10:50:28 PM
 #127

The biggest problem of bitcoin is its transaction fee and confirmation time. Another main problem with bitcoin is its price volatility and due to which it is the possibility that it may crash, i am hoping it will not.

I'm not seeing anymore the transactions fees of bitcoin too high. I think they are fixed already but if you are using xapo's wallet every time you send bitcoin, expect that you will be paying a very high fee. I've been transacting for the past weeks and I don't know why people are still complaining with the fees.



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July 19, 2017, 10:53:14 PM
 #128

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

Thank you!

As of now I can mention two biggest disadvantages of bitcoin. One is high transaction fees and the second one is long confirmation time. Due to these two problems, bitcoin is loosing grounds to currencies like ETH, Byteball which comes with a lot of advanced features.

However, with Segwit activated, I expect these problems will be gone and people will start speculating on bitcoin like before. The implementation has already started and I believe it will be completed by August 1st. If the implementation is successful, bitcoin will be unstoppable and will reach a new height  of 4000 USD in no time.

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July 19, 2017, 11:48:51 PM
 #129

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

Thank you!
Some of people in this industry they said that delaying the confirmation is one of the disadvantage of bitcoin and the fluctuation of it too. For me its a disadvantage it is a normal things for bitcoin to implement of that kind of a things instead. But, it could be the highest fee charge is one of its disadvantage, That's what I think.

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July 20, 2017, 12:37:13 AM
 #130

For me the biggest disadvantges of bitcoin is when the price decrease fastly because my money decrease also fastly. And as of now other people complain about the transaction of bitcoin it takes too much time before the transaction is totally confirm and thats not good because what if you need your bitcoin you cannot use this because its not yet confirm. So I hope the transaction confirm fastly in the next day.

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July 20, 2017, 01:14:46 AM
 #131

For me the biggest disadvantges of bitcoin is when the price decrease fastly because my money decrease also fastly. And as of now other people complain about the transaction of bitcoin it takes too much time before the transaction is totally confirm and thats not good because what if you need your bitcoin you cannot use this because its not yet confirm. So I hope the transaction confirm fastly in the next day.

Its not a disadvantage of bitcoin, that how bitcoin actually works. The price of bitcoin is purely speculative up to this point in time. That's why its better to invest money that you can afford to lose. Because bitcoin price is very unstable specially now, a few dip will really means a big lost for some investors. Confirmation and the high cost of transaction is what really bother most of us. But I think it will be resolved soon.

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July 20, 2017, 04:44:39 AM
 #132

For me the biggest disadvantges of bitcoin is when the price decrease fastly because my money decrease also fastly. And as of now other people complain about the transaction of bitcoin it takes too much time before the transaction is totally confirm and thats not good because what if you need your bitcoin you cannot use this because its not yet confirm. So I hope the transaction confirm fastly in the next day.

Its not a disadvantage of bitcoin, that how bitcoin actually works. The price of bitcoin is purely speculative up to this point in time. That's why its better to invest money that you can afford to lose. Because bitcoin price is very unstable specially now, a few dip will really means a big lost for some investors. Confirmation and the high cost of transaction is what really bother most of us. But I think it will be resolved soon.

if price is decrease then i think it is only about our loss and its not disadvantage of bitcoin. as far as i know, the biggest disadvantage of bitcoin is about the slow confirmation of one transaction and bitcoin community itself is not yet uniting as one large community which giving support to bitcoin.

we are still separated with many purpose for each of group and each of group have many decision about bitcoin. we see a little example about segwit, many of us is agree and disagree and even in out there, we can read many rumors about segwit which is not true because they only want to get something behind of this.

if we are all united, then we can see in many places talk about bitcoin and we are trying to spread the word about bitcoin. this is who we are, we are trying to give opportunity to other people to know bitcoin.

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notyours
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July 20, 2017, 05:14:35 AM
 #133

For me there is some disavantages of bitcoin like the time i invest money in some investing site and the confirmation is so very long but i patiently wait for the confirmation and its good. The second thing is high fees when you send a bitcoin. Thats the only thing i recognize about disadvantage in bitcoin.

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July 20, 2017, 05:50:15 AM
 #134

For me the biggest disadvantges of bitcoin is when the price decrease fastly because my money decrease also fastly. And as of now other people complain about the transaction of bitcoin it takes too much time before the transaction is totally confirm and thats not good because what if you need your bitcoin you cannot use this because its not yet confirm. So I hope the transaction confirm fastly in the next day.
I also have the same opinion with you. One of the problems of Bitcoin in particular and Cryptocurrency in general is the fluctuation. Their prices are often unstable, at high or low, their prices can go up very fast but down also very fast. The cost and speed of Bitcoin transaction as you say it is a disadvantage. Transaction fees are getting higher but transaction speed is still slow, many transactions take several hours even a day to confirm. Hopefully these things will be fixed soon

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ladydark
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July 20, 2017, 07:35:33 AM
 #135

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

Thank you!
The biggest disadvantage of bitcoin is that its price is not stable and its highly volatile in nature.It essential for any currency to be stable in its price for it to be accepted as primary currency in any country.It is due to this volatile nature many retailers are not coming forward to accept bitcoin payments.

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July 20, 2017, 10:26:46 AM
 #136

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 disadvantage of the bitcoin is it using in the deep web and in the black market.

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July 20, 2017, 11:22:34 AM
 #137

Bitcoin is a good opportunity to earn, but too high commission fees and long confirmation of the transaction are its drawbacks. It can only be used for larger purposes.

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July 20, 2017, 11:32:56 AM
 #138

Bitcoin is a good opportunity to earn, but too high commission fees and long confirmation of the transaction are its drawbacks. It can only be used for larger purposes.

You give a positive characteristic of bitcoin and then gives a not considerable disadvantage of bitcoin. I really don't think the fees are too high and the transaction confirmation aren't that big and slow these days. As base on my experience I'm starting to become convinced with the current network of bitcoin's fast transaction.

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July 20, 2017, 11:33:48 PM
 #139

I think the weakness of bitcoin if in this world is no longer an internet connection and the power grid may be difficult to use bitcoin.
Yep! That’s true. Bitcoins do not have any disadvantage as such. Even if they have any, it is overshadowed by the amazing advantages. It is decentralized nature has attracted masses worldwide. The anonymity is also very much appreciated feature.

It’s really rude to search for the disadvantages of bitcoins. The only problem world can face with bitcoins would be access to internet.

But after having mobile revolutions like LTE connections, I guess even under developed countries also getting easy access to internet. So, this also could not be considered as a disadvantage no more.



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July 20, 2017, 11:44:42 PM
 #140

For me the biggest disadvantges of bitcoin is when the price decrease fastly because my money decrease also fastly. And as of now other people complain about the transaction of bitcoin it takes too much time before the transaction is totally confirm and thats not good because what if you need your bitcoin you cannot use this because its not yet confirm. So I hope the transaction confirm fastly in the next day.

Its not a disadvantage of bitcoin, that how bitcoin actually works. The price of bitcoin is purely speculative up to this point in time. That's why its better to invest money that you can afford to lose. Because bitcoin price is very unstable specially now, a few dip will really means a big lost for some investors. Confirmation and the high cost of transaction is what really bother most of us. But I think it will be resolved soon.

Just waiting for 1st august and you will see the clear answer regarding the high transaction fees and this time bitcoin already gone to the moon but i was expecting this as another bulltrap from bitcoin.
The volatility to be a serious part in crypto rather than stock market, crypto has offered better volatility with low manipulation.

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