Bitcoin Forum
December 11, 2017, 06:07:47 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 4 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 24953 times)
fasdorcas
Sr. Member
****
Offline Offline

Activity: 477



View Profile
October 04, 2017, 08:28:02 AM
 #501

I think the biggest bitcoin weakness is its price is still not stable and not all countries legalize bitcoin so therefore bitcoin still has a very significant weakness ...
Yes, you may be right. As far as I think, the biggest disadvantage of Bitcoin is not this but the biggest disadvantage is the transaction fee and the transaction process.

This is something which is causing a lot of troubles for the investors of Bitcoins. This issue needs to be resolved as soon as possible so that it may not affect the market in negative way.


               ▄█▄
            ▄█ ▀█▀
     ▄ ▄███▄▄████▄▀ ▄▄▀▄
    ▀█▄████
██████▀▄█████▀▄▀
   ▄█▀▄
███████████████████▄
 ▄██▀█▀
▀▀▀███▀▀▀█████▄▄▄▀█▀▄
 ▄█▀▀   ▀█
███▀▄████████ █▀█▄▄
██▀  ▀ ▀ ▀
██████████▄   ▄▀▀█▄
     ▀ ▀
  ███▀▀▀▀▀████▌ ▄  ▀
          ████████████▌   █
        █████████████▀
        ▀▀▀██▀▀██▀▀
           ▀▀  ▀▀
BTC-GREEN       ▄▄████████▄▄
    ▄██████████████▄
  ▄██████
██████████████▄
 ▄███
███████████████████▄
▄█████████████████████████▄
██████████████████████████
███████████████████████████
███████████████████████████
▀█████████████████████████▀
 ▀███████████████████████▀
  ▀█████████████████████▀
    ▀█████████████████
       ▀▀█████████▀▀
Ecological Community in the Green Planet
❱❱❱❱❱❱     WHITEPAGE   |   ANN THREAD     ❰❰❰❰❰❰
           ▄███▄▄
       ▄▄█████████▄
      ▄████████████▌
   ▄█████████████▄▄
 ▄████████████████████
███████████████▄
▄████████████████████▀
███████████████████████▀
 ▀▀██████▀██▌██████▀
   ▀██▀▀▀  ██  ▀▀▀▀▀▀
           ██
           ██▌
          ▐███▄
.
1512972467
Hero Member
*
Offline Offline

Posts: 1512972467

View Profile Personal Message (Offline)

Ignore
1512972467
Reply with quote  #2

1512972467
Report to moderator
1512972467
Hero Member
*
Offline Offline

Posts: 1512972467

View Profile Personal Message (Offline)

Ignore
1512972467
Reply with quote  #2

1512972467
Report to moderator
Transactions can optionally carry transaction fees. Whoever mines the block which ends up containing your transaction will get the fee. The Bitcoin client will sometimes force you to pay a fee when it thinks that no miner will accept your transaction otherwise.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
giarised
Member
**
Offline Offline

Activity: 109


View Profile
October 04, 2017, 08:30:38 AM
 #502

It seems to me that the biggest disadvantage of bitcoin is its dependence from Fiat. This applies to all cryptocurrencies without exception. In order to buy the goods we have to change the bitcoins to Fiat. This not only creates additional difficulties and leads to additional costs. This deprives bitcoin of the main advantages - anonymity.
This is not disadvantage at all. There are many stores that have started accepting bitcoin already and many restaurants are willing to get paid in bitcoin. Bitcoin are getting popular day by day and there are maximum chances that the will be the legal international currency of the world, binding whole world together. Bitcoins are not going to be dependent on fiat anymore soon.

Wittycoin
Member
**
Offline Offline

Activity: 119


View Profile
October 04, 2017, 08:52:37 AM
 #503

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

Thank you!
I think the biggest disadvantage of bitcoin or any cryptocurrency is that it always need internet for you to be able to use it and to be able to have transaction with others, not all places have internet or free wifi. Also cryptocurrency are not yet known to many people and many countries doesn't recognize or allow cryptocurrencies to be used on their country thats why, you can not expect all markets to accept bitcoin or any crypto as payment. Those are big disadvantages of cryptocurrencies.

▌ ━━━ adbank │ a powerful online ad platform built on the blockchain ━━━  ▌
︽︾︽︾︽︾︽      WHITEPAPER     │    DECK      ︽︾︽︾︽︾︽
▌ ━━━  Pre-Register for Token Sale ━━━ ▌
nethan1btc
Sr. Member
****
Offline Offline

Activity: 294


View Profile
October 04, 2017, 09:07:39 AM
 #504

It seems to me that the biggest disadvantage of bitcoin is its dependence from Fiat. This applies to all cryptocurrencies without exception. In order to buy the goods we have to change the bitcoins to Fiat. This not only creates additional difficulties and leads to additional costs. This deprives bitcoin of the main advantages - anonymity.
This is not disadvantage at all. There are many stores that have started accepting bitcoin already and many restaurants are willing to get paid in bitcoin. Bitcoin are getting popular day by day and there are maximum chances that the will be the legal international currency of the world, binding whole world together. Bitcoins are not going to be dependent on fiat anymore soon.



According to what I have observed, the biggest disadvantage of bitcoin is that they are not total widely accepted all over the world.One of that it just a digital currency If you loss your hard drive and forget your digital wallet or corrupted you will get nothing and suddenly all effort that you spend here in bitcoin will gone easily and nothing we could do about it.

████████████████████████████
████████▄▄████████▄▄████████
█████▄███▀▀██████▀▀███▄█████
██████▀███▄█▄██▄▄████▀██████
████████████████▄▄████████
████████████████████████████
████▄▄███████████████▄████
████▄████████████████▀████
████████████████████████████
████████▀▀▀████▀█▀█████████
██████▄██████████████▄██████
█████▀███▄▄██████▄▄███▀█████
████████▀▀████████▀▀████████
████████████████████████████
Truckcoin
































robotrobert
Member
**
Offline Offline

Activity: 114


View Profile
October 04, 2017, 10:05:51 AM
 #505

I think the biggest disadvantage of Bitcoin is its volatility. But in cryptocurrencies I think that's their characteristic that cannot be changed, for the values are not stable and you cannot do anything to change it. Instead of finding a way to change it, We, users, will adjust to this feature of bitcoin and make our own strategy on how to earn bitcoins.
Volatility is not disadvantage technically volatility makes bitcoin more popular and though this behavior people are making money and there are no disadvantages as people say volatility give them loss my answer is why don’t you stay calm and hold when prices are low and by at that time because there is pump after every dump so be confident and invest.

prettyij
Newbie
*
Offline Offline

Activity: 28


View Profile
October 04, 2017, 10:15:05 AM
 #506

The scalability of Bitcoin is another issue for long-term users. As the infrastructure for this currency has not undergone any significant improvements, there is a risk that future adoption of more people could lead to a very congested and slow system.
MMS2017
Full Member
***
Offline Offline

Activity: 154



View Profile
October 04, 2017, 10:42:31 AM
 #507

The biggest disadvantage of bitcoin is a type of digital currency which is connected with internet. Once this facility finish the existence of bitcoin will suffer from many losses. The usage of bitcoin is decreasing day by day may be the supply of which will harmful because of heavy supply of bitcoin.

mozillaspez
Full Member
***
Offline Offline

Activity: 168



View Profile
October 04, 2017, 12:13:37 PM
 #508

Biggest disadvantage of bitcoin is high transaction fees and sometimes long confirmation time of transactions.Bitcoin has a high volatility, its price increases and decreases at a high pace and it makes it very risky to invest.
Yeah transaction fees is a big flaw in bitcoin. But I think there is an even bigger disadvantage of bitcoin. That is its unpredictable price. Its price change much frequently than any other currency. If it is 4000 today then it can be 4500 tomorrow or it can also go down to 3500.

Kisanaq
Sr. Member
****
Offline Offline

Activity: 420



View Profile
October 04, 2017, 02:19:14 PM
 #509

I think the biggest disadvantage of bitcoin is the higher transaction cost, if we compare it with altcoin then bitcoin can be 20 times more expensive, for example is ethereum, with 0.001 eth or equal to $ 0.03 ETH we can send coins connected with ETH, whereas bitcoin takes at least 85k or about $ 3.5.

Pinkris128
Sr. Member
****
Offline Offline

Activity: 257



View Profile
October 04, 2017, 02:27:06 PM
 #510

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

Thank you!
The only disadvantage of bitcoin that I see was its transaction fee. Because as far as I see here in forum there are many users that ara complaining about it. They always says the transaction fee was too higg which js true. But if we look on the other side I tginknits fair why? Because the one who manage our transaction also need to get profit so the higher the fees that we pay the faster the transaction that we can get.

Shohanur
Member
**
Offline Offline

Activity: 102


View Profile
October 04, 2017, 02:45:14 PM
 #511

Yeah there is a cause for disadvantage of btc. I think it is offline. bitcoin is an online based crypto. if it would be a offline coin, it would be very favourite to all for using.

betudontbet
Sr. Member
****
Offline Offline

Activity: 308


View Profile
October 04, 2017, 02:49:46 PM
 #512

In my opinion the biggest disadvatange that's yet not accepted everywere as a payment, sooner it will be but since there is not accepted as payment anywhere I had to use my credit card for certain purchases.
webdevmastery
Full Member
***
Offline Offline

Activity: 154


Software Engineer & Web dveloper - LIVE TREE ADEPT


View Profile
October 04, 2017, 05:07:07 PM
 #513

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

Thank you!

If you are a trader or a gambler then there is really a huge disadvantage in bitcoins because the value is not consistently high, Basically the market works depending on the supply and demand of a coin so you better know how the system works before you invest into a specific coin.

PMmesexycoins
Full Member
***
Offline Offline

Activity: 154


INS Ecosystem


View Profile
October 04, 2017, 05:47:47 PM
 #514

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

Thank you!

If you are a trader or a gambler then there is really a huge disadvantage in bitcoins because the value is not consistently high, Basically the market works depending on the supply and demand of a coin so you better know how the system works before you invest into a specific coin.

Traders can try to take advantage of that volatility for quick profits. I think they'd see it as opportunity rather.

onrise
Sr. Member
****
Online Online

Activity: 336



View Profile
October 04, 2017, 06:03:37 PM
 #515

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

Thank you!

If you are a trader or a gambler then there is really a huge disadvantage in bitcoins because the value is not consistently high, Basically the market works depending on the supply and demand of a coin so you better know how the system works before you invest into a specific coin.

Traders can try to take advantage of that volatility for quick profits. I think they'd see it as opportunity rather.

Its only advantageous if you are on the right side of the trade . If you bought and market goes down than you have to bear a huge loss unless you can hold it for the time it may take to rise back again.

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

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

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




 ▄█████████ ███      ███  ▄█████  ▄█████  ▄████████▄   ▄████████▄   ▄█████████ ███       ███
███▀        ███      ███ ███▀    ███▀    ███▀    ▀███ ███▀    ▀███ ███▀        ███       ███
███         ███      ███ ███     ███     ████████████ ███      ███ ███         ███▄     ▄███
███▄        ███▄    ▄███ ███     ███     ███▄         ███      ███ ███▄         ▀███████████
 ▀█████████  ▀████████▀  ███     ███      ▀█████      ███      ███  ▀█████████          ▄███
                                                                                     █████▀
██████
███
███
███
███
███
███
███
███
███
███
███
██████
██████
███
███
███
███
███
███
███
███
███
███
███
██████
█████▀
███▀ 
█▀  ▄█
  ▄███
▄████▀
███▀
█▀  ▄█
  ▄███
▄████▀
███▀
█▀  ▄█
  ▄███
▄█████
█████▀
███▀ 
█▀  ▄█
  ▄███
▄████▀
███▀
█▀  ▄█
  ▄███
▄████▀
███▀
█▀  ▄█
  ▄███
▄█████
KEPLER99
Full Member
***
Offline Offline

Activity: 196



View Profile
October 05, 2017, 11:25:54 AM
 #516

- Bitcoins Are Not Widely accepted : Bitcoins are still only accepted by a very small group of online merchants. This makes it unfeasible to completely rely on Bitcoins as a currency. There is also a possibility that governments might force merchants to not use Bitcoins to ensure that users’ transactions can be tracked.
-Wallets Can Be Lost :If a hard drive crashes, or a virus corrupts data , and the wallet file is corrupted, Bitcoins have essentially been “lost”. There is nothing that can done to recover it. These coins will be forever orphaned in the system. This can bankrupt a wealthy Bitcoin investor within seconds with no way form of recovery. The coins the investor owned will also be permanently orphaned.
There is no disadvantage of investing in BTC because one can gain much profit as compare to any other business.as if the prices goes high then there will be also good advantage for investors, nowadays the popularity of bitcoin is increasing day by day which is a good omen and attracting more people to invest and to chance to expand their trade.

BTC-GREEN              Ecological Community in the Grean Planet
[ WHITEPAGE ]       J O I N   I C O   IIILIVE       [ ANN THREAD ]
❱❱❱❱❱❱      FACEBOOK      |      TWITTER      |      YOUTUBE       ❰❰❰❰❰❰
Heacygg
Member
**
Offline Offline

Activity: 117


View Profile
October 05, 2017, 03:54:42 PM
 #517

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

Thank you!

The bughest disadvantage for me, and it really threatens me as an individual. Is the fact that, bitcoins can be hacked because it is online, although it cannot be hacked yet but what if in the future something might happen? But let just all hope that nothings gonna happen to us. Because we all love bitcoins especially me because this is the one sustaining my daily needs. And aside from that I'm also thinking that the fact that bitcoins can drops which makes me panic sometimes but I know have full trust on bitcoins.
Bitcoins have no disadvantage at all it have only benefits some of the benefits of bitcoins are that the prices of bitcoins are not stopping on one figure its prices are increasing rapidly and after some time it will known as king of cryptocurrency.

BattleTitans.io  ▼  Mobile PvP Arena of the Future  ▼  BattleTitans.io
The Most Promising ICO in October [JOIN NOW!]

▬▬▬▬▬▬▬▬▬▬ ▼  [FB]  ▬▬▬  [TW]  ▬▬▬  [TG]  ▬▬▬  [YU]  ▼ ▬▬▬▬▬▬▬▬▬▬
forbiddenone123
Member
**
Offline Offline

Activity: 109


View Profile
October 05, 2017, 05:29:59 PM
 #518

The biggest disadvantage of bitcoin when the price is low because you can convert your bitcoin in low price but it good when the price is high.

Sylenth
Sr. Member
****
Offline Offline

Activity: 266



View Profile
October 05, 2017, 06:01:14 PM
 #519

disadvantages:-
1.these are not widely accepted - these are only accepted by few online merchants
2.wallets can be lost-if virus attacks and corrupt the data there is no way of recovering your btc.
3.bitcoin value fluctuates greatly since btc is decentralized there is no minimum value assigned to it.decentralization of this currency is both curse and blessing.
4.bitcoin does not have any physical form so it cannot be used in physical stores and has to be converted to other forms of currency by paying transferable fees
5.technical flaws-since all is operated online technical flaw can create problem in its working and could lead to destruction bitcoin too
For # 2, I think the other purpose of the private key is that you can export your wallet from different gadgets. So incase of virus attack, you can still use another gadget so you can still have your bitcoins.

For # 4, same thing goes if you use your physical money to buy in online stores, well you can't do that unless you choose COD. Why not have physical money for physical transactions and have bitcoins for online transactions.


for your first argument ,i totally agree with you using different gadgets ,but what if gets corrupted too , for every copy you can not buy different devices,it would cost you more than you are earning,secondly as two devices are being used by same person there will be things which are going to be common in both devices so maybe a thing affecting your device and can harm other one too

for your second one,you yourself have said about there is still COD option available for buying things online with physical money,what if your online vendor does not support btc,i know its minor issue but still it is there
adam1230
Hero Member
*****
Offline Offline

Activity: 798



View Profile
October 05, 2017, 06:10:41 PM
 #520

Transaction costs is not cheap as other currencies. and the biggest probem is transaction time. sometimes it takes several days to get cobfirmation so i use other currencies for transactions

Pages: « 1 2 3 4 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!