Bitcoin Forum
December 16, 2017, 04:17:39 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 25027 times)
South Park
Hero Member
*****
Offline Offline

Activity: 546


★Bitvest.io★ Play Plinko or Invest!


View Profile
October 11, 2017, 10:46:20 PM
 #581

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

Thank you!
There are three things that bother from bitcoin, one is the speed of confirmation, but this is being addressed with segwit already, the second is the lack of adoption but it is going to take some time for that to change and finally is the drama, there is a lot of drama in the community, there are forks coming everywhere, the miners want to get their way.



.
.BITVEST DICE.
HAS BEEN RELEASED!


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

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

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

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

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

▀████████████████████▀




Rainbot
Daily Quests
Faucet
1513397859
Hero Member
*
Offline Offline

Posts: 1513397859

View Profile Personal Message (Offline)

Ignore
1513397859
Reply with quote  #2

1513397859
Report to moderator
1513397859
Hero Member
*
Offline Offline

Posts: 1513397859

View Profile Personal Message (Offline)

Ignore
1513397859
Reply with quote  #2

1513397859
Report to moderator
1513397859
Hero Member
*
Offline Offline

Posts: 1513397859

View Profile Personal Message (Offline)

Ignore
1513397859
Reply with quote  #2

1513397859
Report to moderator
Make sure you back up your wallet regularly! With Bitcoin-Qt, it needs to be backed up at least as often as every 100 transactions (both sends and receipts) or new addresses.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
lazaruseffect11
Full Member
***
Online Online

Activity: 140



View Profile
October 11, 2017, 10:50:25 PM
 #582

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 bitcoin is that, it consumes most of your time and effort. Sometimes you forgot to do something you need to do because youre earning and monitoring your bitcoin. You also forgot to bond with your family that affects your relationship among them. In earning and using bitcoin, you should know how to balance and manage your time.

Shamie1002
Full Member
***
Online Online

Activity: 182


View Profile
October 12, 2017, 12:01:14 AM
 #583

I think when it comes to the disadvantages, it prefers to negative things. I think that criminality is the worst thing that bitcoin can be involved in. Illegal transactions may be done with anonymity.

The future of money has arrived   ═══▌▌     TRUCKCOIN     ▐▐═══   For The Fastest Decentralized Global Market
《  ICO starts of Dec 1 st, 2017       ANN Thread     WhitePaper     Twitter     Facebook     Google+
═══════════════════     Powered by GoldenHill International     ═══════════════════
Sebas.tian
Member
**
Offline Offline

Activity: 106


View Profile
October 12, 2017, 12:44:30 AM
 #584

Bitcoin is a good investment but is not readily liquidated like gold. Also, what seems to be an advantage--anonymity, can also be a disadvantage when bad people are going to use it.

Heyyyrenz
Full Member
***
Online Online

Activity: 224


Freelance Architecture.


View Profile
October 12, 2017, 01:03:08 AM
 #585

Bitcoin has many advantages than the fiats but there are also some disadvantages regarding the bitcoin here are some of it.

• Bitcoins Are Not Widely Accepted.
• Wallets Can Be Lost.
• No Buyer Protection.
• Can be used in illegal works such as buying illegal things and using money to launder.

But the biggest disadvantages of bitcoin for me is not all the countries see the bitcoins potential and didn't see the opportunity it brings to the country.

C
Finally C is!!!

aardvark15
Hero Member
*****
Offline Offline

Activity: 588


View Profile
October 12, 2017, 01:14:08 AM
 #586

Bitcoin has many advantages than the fiats but there are also some disadvantages regarding the bitcoin here are some of it.

• Bitcoins Are Not Widely Accepted.
• Wallets Can Be Lost.
• No Buyer Protection.
• Can be used in illegal works such as buying illegal things and using money to launder.

But the biggest disadvantages of bitcoin for me is not all the countries see the bitcoins potential and didn't see the opportunity it brings to the country.

I think the biggest disadvantages of Bitcoin are:

1) Fees are a little high now and could get higher as mining gets harder.

2) Mining takes a lot of energy.

3) Over time, the transaction time will probably be longer.

Another thing is that as the price of Bitcoin goes higher, it's less likely that Bitcoins will be used as a payment method because everyone wants to hold on to their Bitcoins. I can't tell if this is good or bad because as long as the price keeps rising, then it must not matter if people don't spend Bitcoins.

lunnatic
Sr. Member
****
Offline Offline

Activity: 389



View Profile
October 12, 2017, 01:29:03 AM
 #587

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

Thank you!
The disadvatage of Bitcoin is Lack of regulation that can make Bitcoin which can be used for criminal matters like money laundring, drugs payment, and many more. This lacks of regulation make people free to use Bitcoin.

cashaa█████
█╬██
█╬█
█╬█
█╬█
█╬█

█╬█

█╬██

█████
██████
██╬██
█╬█
█╬█
█╬█
█╬█

█╬█

██╬██

██████
█████
██╬█
█╬█
█╬█
█╬█
█╬█

█╬█

██╬█

█████
Images21
Sr. Member
****
Offline Offline

Activity: 314


"Highest ROI crypto infrastructure"


View Profile
October 12, 2017, 01:51:31 AM
 #588

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

Thank you!

First and foremost, the biggest disadvantages of Bitcoin do not weigh more than a couple of advantages of it. Disadvantages of bitcoin for me include the very minimal number of stores and malls in which we can spend our bitcoins. Another one would be the additional transaction fees. And then we still have a long confirmation time for Bitcoin transaction.


           ▄████████▄           ▄███████▄
          ████████████▄       ▄███████████
         ██████████████████████████████████
         ██████████████████████████████████
         ██████████████████████████████████                                              █████
          ████████████▀       ▀███████████                                               █████
            ▀██████▀            ▀██████▀                                                     
   ▄▄▄▄▄▄              ▄▄▄▄▄▄             █████████      ███████████    ████▒     █████  █████     ▄█████████▄     ███████████
 ██████████          ██████████          ███████████▒    ████████████    ████     ████   █████    █████████████    ████████████
█████████████       ████████████        ████     ████    ████    ▒████   █████   ████    █████   ▒████     ████▒   ████▒  ░░████
█████████████      ██████████████      ██████████████▒   ████     ████    ████   ████    █████   ████      ▒████   ████▒    ████
█████████████      ██████████████      █████▒▒▒▒▒▒▒▒▒    ████     ████     ████ ████     █████   ████▒     ▒████   ████▒    ████
█████████████       ████████████        ████▒            ████     ████      ███████      █████    ████     ████    ████▒    ████
 ▀█████████▀         ▀████████▀          ███████████     ████     ████      ▒█████       █████     ███████████     ████▒    ████
                                           ▀██████▒      ████     ████       ▒███        █████       ▀█████▀       ████▒    ████
           ▄████████▄          ▄████████▄
          ████████████▄      ▄████████████
         ██████████████████████████████████
         ██████████████████████████████████
          ████████████████████████████████
           ██████████▀        ▀██████████ 
            ▀██████▀            ▀██████▀ 
    WORLD'S MOST PROFITABLE STANDARD
  OF SELF-EXPANDING CRYPTO INFRASTRUCTURE
FACEBOOK 】【 TWITTER
        ANN THREAD
TELEGRAM MEDIUM
 
  Join our ICO: 
Dec. 1-31 │ Whitepaper 
BulbaLord
Member
**
Offline Offline

Activity: 72


View Profile
October 12, 2017, 01:57:13 AM
 #589

What is the disadvantage of bitcoin? For me you for got the daily routen of your life because you are focus in bitcoin
That consume most of your time
Pivo
Legendary
*
Offline Offline

Activity: 1624


View Profile
October 12, 2017, 02:15:56 AM
 #590

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

Thank you!

Possibly the biggest disadvantage is that it relies on miners to transfer bitcoins and for a fee. This fee is not a set amount or a set percentage and could change over time. Fees could get very large as fewer coins are mined and miners rely almost completely on fees to make mining worth it.

I also think that tx fee is a great disadvantage due to not having a set mount or a set percentage as you say so the tendency of being expensive (as what happens now) would become a major hurdle especially in micro transactions.
DarkSi
Member
**
Offline Offline

Activity: 70

Crypterium Support


View Profile WWW
October 12, 2017, 04:46:34 PM
 #591

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

Thank you!

Possibly the biggest disadvantage is that it relies on miners to transfer bitcoins and for a fee. This fee is not a set amount or a set percentage and could change over time. Fees could get very large as fewer coins are mined and miners rely almost completely on fees to make mining worth it.

I also think that tx fee is a great disadvantage due to not having a set mount or a set percentage as you say so the tendency of being expensive (as what happens now) would become a major hurdle especially in micro transactions.

There are several projects addressing the problem of significant fees. The link to one of them is below Wink Let me know if you're interested to know more details on how it works

https://crypterium.io/ — cryptobank ICO
inevertell
Full Member
***
Offline Offline

Activity: 196



View Profile
October 12, 2017, 06:16:36 PM
 #592

To me ,there are no disadvantages at all when it comes to bitcoin.

Really? That is a confident answer, but I don't think so. There are a lot of people who are being pissed on how the fees are so high. Also, the volatility of the digital currency is a disadvantage since we can't be sure of our profits and investments.
There is no disadvantage of bitcoins because the bitcoins is the most safest way to earn money in least time you will never hear bad words about bitcoins that's why you should invest money in bitcoins yo earn money.
solarion
Hero Member
*****
Offline Offline

Activity: 546


FastInvest- Future of Digital Banking


View Profile
October 12, 2017, 06:23:24 PM
 #593

To me ,there are no disadvantages at all when it comes to bitcoin.

Really? That is a confident answer, but I don't think so. There are a lot of people who are being pissed on how the fees are so high. Also, the volatility of the digital currency is a disadvantage since we can't be sure of our profits and investments.
There is no disadvantage of bitcoins because the bitcoins is the most safest way to earn money in least time you will never hear bad words about bitcoins that's why you should invest money in bitcoins yo earn money.


Price fluctuatation is disadvantage according to me. If you able to invest big funds you can say that you will be able to get profit all the time whenever price fluctuates also.
I don't know how you are saying there is no any disadvantage in bitcoin. In any project or business. There should be any disadvantage in it but bitcoins has the very few disadvantage.

Howell
Jr. Member
*
Offline Offline

Activity: 44


View Profile
October 12, 2017, 06:38:08 PM
 #594

For me, the biggest disadvantage of bitcoin is that, it consumes most of your time and effort. Sometimes you forgot to do something you need to do because youre earning and monitoring your bitcoin. You also forgot to bond with your family that affects your relationship among them. In earning and using bitcoin, you should know how to balance and manage your time.
Are you serious? I was going to think everyone should be celebrating the freedom and leverage the emergence of bitcoin have brought to play in the labor market. You can be your boss, work at your pace and from about any location, it has never been this good! I guess your problem is with managing your time!
scott1
Member
**
Offline Offline

Activity: 70


View Profile
October 12, 2017, 07:54:27 PM
 #595

The biggest disadvantage with Bitcoin is the accessibility and the lack of infrastructure. Most people simply don't know how to operate a wallet, work with hash/hex public addresses etc. It can be a bit daunting. In addition, Blockchain is a very difficult subject for someone with little technical knowledge to fully grasp. Actually, I'd argue that many people who claim to 'fully' understand the blockchain really don't, because cryptography is a complex field. Then, there's the lack of transaction insurance, which creates a barrier for first-time users.

Overall, I think the infrastructure has a lot of improving to do before people are using bitcoin/altcoins to make simple purchases etc. We're heading in the right direction, but such a holistic effort takes time. If you take a step back, there's still only a small fraction of people who are actually involved in cryptocurrencies. Mainstream hasn't even come close to adopting the technology and a surprisingly large amount of people haven't heard of the concept, though that is changing.

South Park
Hero Member
*****
Offline Offline

Activity: 546


★Bitvest.io★ Play Plinko or Invest!


View Profile
October 12, 2017, 10:02:32 PM
 #596

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 bitcoin is that, it consumes most of your time and effort. Sometimes you forgot to do something you need to do because youre earning and monitoring your bitcoin. You also forgot to bond with your family that affects your relationship among them. In earning and using bitcoin, you should know how to balance and manage your time.
But you cannot blame bitcoin for that, you are the one at fault, but it is not like I do not understand your point, bitcoin gives so many opportunities to earn that you do not want to miss a single one and as such we are in front of the monitor of our computers most of our spare time.



.
.BITVEST DICE.
HAS BEEN RELEASED!


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

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

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

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

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

▀████████████████████▀




Rainbot
Daily Quests
Faucet
spacecakes
Jr. Member
*
Offline Offline

Activity: 33


View Profile
October 12, 2017, 10:30:47 PM
 #597

Its price is highly unstable, but you already knew that.
If we buy from coinbase and it takes 1 week to process payment for the btc the price can change anywhere from 0-20%.
Honestly because theres so many blocks on the network its also painfully slow.
Deathgamer
Member
**
Offline Offline

Activity: 70


View Profile
October 13, 2017, 12:06:09 AM
 #598

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

Thank you!


For me i think there is no disadvantage of bitcoin because you can use bitcoin anywhere , anytime and also it has a very high value.if we can earn bitcoin alot we can also have alot of money so for me i think there has no biggest disadvantage of bitcoin.

barabarian1
Sr. Member
****
Offline Offline

Activity: 364



View Profile
October 13, 2017, 12:28:48 AM
 #599

unstable price, total supply of bitcoin, legalization
sometimes many people loss their money cause of unstable price. total supply that limited make bitcoin can loss all coin (although it will increase the value). and many country not accepted, and not recognize to use bitcoin

SPECTRE                ▄▄███▄▄
            ▄▄███▀▀▀▀▀███▄▄
▄▄      ▄▄███▀▀ ▄▄███▄▄ ▀▀███▄▄      ▄▄
████▄▄  ▀▀▀ ▄▄███████████▄▄ ▀▀▀  ▄▄████
  ▀▀████▄    ▀▀█████████▀▀    ▄████▀▀
 ██▄▄ ▀██ █▄▄    ▀▀▀▀▀    ▄▄█ ██▀ ▄▄██
 ▀▀███ ██ █████▄       ▄█████ ██ ███▀▀
      ██ ███████▄   ▄███████ ██
       ██ ████████   ████████ ██
       ██▄▄ ▀▀████   ████▀▀ ▄▄██
        ▀▀███▄▄ ▀▀   ▀▀ ▄▄███▀▀
            ▀▀███▄▄▄▄▄███▀▀
                ▀▀███▀▀
             │
     │      ███
     │      ███
    │     ███
███  │     ███
███ ███ ███ ███
███ ███ ███ ███
███ ███ ███ ███
███ ███ ███ ███
███ ███     │
███ ███     │
    │
 
▬▬     WHITEPAPER    ▬▬
FACEBOOK     TELEGRAM
TWITTER     SLACK     MEDIUM
.
PRE-SALE.
PUBLIC SALE.
Ishika0207
Newbie
*
Offline Offline

Activity: 14


View Profile
October 13, 2017, 01:00:01 AM
 #600

I think the biggest disadvantage of bitcoin is its price volatility.  And the other one is, it's like a virtual money,  you have to depend on your digital media for saving it,  for keeping it, and once you lost your password or your wallet all you bitcoin will go in vain.  And there is no proper authorities running it.
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!