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Author Topic: What is the biggest disadvantage of Bitcoin?  (Read 25544 times)
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October 25, 2017, 12:01:58 PM
 #741

Too big to fail, hard to change without fork, slow and costly transactions.

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October 25, 2017, 12:16:32 PM
 #742

for me the biggest disadvantage of bitcoin is that, it is not yet being used in my country where i can used in any transactions, stores here did not accept bitcoin, but in other country only. But if this issue is being answered then there were no other disadvantage it may be.

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October 25, 2017, 12:17:39 PM
 #743

The biggest disadvantage I see in bitcoin are the physical bitcoin which is not available.
2) The hike in transaction fee which sometime leads to stuck of bitcoin transaction because this may somehow make bitcoin soar to some common man.
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October 26, 2017, 02:51:12 AM
 #744

for me the biggest disadvantage of bitcoin is that, it is not yet being used in my country where i can used in any transactions, stores here did not accept bitcoin, but in other country only. But if this issue is being answered then there were no other disadvantage it may be.
This is really bad because the bitcoin price and the value is now very high and it is being use by almost all the countries, I hop-e in the future you will be able to use the bitcoin because soon the bitcoin will because the world currency and it will be the most popular and the world’s best currency in the whole world , it is the  right thing to invest your money in and to get eth profit from it.


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October 26, 2017, 03:59:48 AM
 #745

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).
it may be a disadvantage for the user, because its current value is very expensive. but what is the loss for investors, or developers? can you explain a bit about that?
thanks
In my opinion there are two disadvantages of bitcoin and I’m sure every one will be agree with me first of all bitcoin has no physical shape or any logo and secondly bitcoin is only available on line its only in internet if internet stop work so I think bitcoin can be finished although bitcoin is one of the strong and popular currency around the world but I want physical shape of it.
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October 26, 2017, 05:27:00 AM
 #746

May be.we know that everything has two side.Bitcoin has also.But not big.it has high price.it is just disadvantage.

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October 26, 2017, 05:44:32 AM
 #747

so many bad things are circulating about bitcoin. whether it was deliberately spread or not. but, bitcoin is always a target of hackers who have a high ability to try to steal bitcoin. well, but many also say that bitcoin is used for bad business needs.

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October 26, 2017, 05:51:41 AM
 #748

The problem is with its instability.
Nobody knows what will happen to it tomorrow. Huh Roll Eyes
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October 26, 2017, 06:28:37 AM
 #749

Non-technical people can use it, but only as something equivalent in their minds to a credit card or Apple Pay. So unless they are in one of the situations where Bitcoin is clearly superior to the alternatives, like evading currency controls or sending remittances, it won't seem significant to them.
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October 26, 2017, 06:57:59 AM
 #750

I think so the biggest disadvatage is Bitcoins transfer speeds. Bitcoin is so useless to buy something in real life

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October 26, 2017, 09:57:49 AM
 #751

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 has to do with the legalization of Bitcoin to different countries. The biggest disadvantage of Bitcoin is that, it is not yet legal to most of the countries that I think, limits the increase of its market value for the reason that the demand is also tied up with its community. If it will be legal to most of the countries, the demand will surely increase and its value will be more expensive.
For me as well bitcoin is very safe to keep in the bitcoin wallet and then no one will be able to give you the information if it will get hack one.

It is not very easy to hack but a lot of the people have heard about the bitcoin hacking in the past for me the value of eh bitcoin is very high and it the most popular currency and the security of the bitcoin is better if we will keep the bitcoin save for the long time.

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October 26, 2017, 10:39:33 AM
 #752

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

Thank you!

Non refunded . So when you get Scammed you will loss your money and can’t be refunded like when send money by wrong
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October 26, 2017, 11:18:38 AM
 #753

For me, the biggest disadvantage of bitcoin is the acceptance and legality of it. Not everybody accept bitcoin and know bitcoin, even the bitcoin have a higher price. The bitcoin legality in other countries, bitcoin are not legal to some country that why many people don’t even know and can’t try bitcoin. Smiley
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October 26, 2017, 01:16:31 PM
 #754

if we're talking about the disadvantage of bitcoin to it's users, i think it's the fact that bitcoin wallets can be hacked and is a little vulnerable to brute force attacks. if it's disadvantage to it's investors, it is probably that bitcoin is unpredictable and is very volatile, they can lose really big.

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October 26, 2017, 01:26:12 PM
 #755

if we're talking about the disadvantage of bitcoin to it's users, i think it's the fact that bitcoin wallets can be hacked and is a little vulnerable to brute force attacks. if it's disadvantage to it's investors, it is probably that bitcoin is unpredictable and is very volatile, they can lose really big.
Just only if you keep your backup fine in such encrypted place, your wallet will always be safe. majority of people who get hacked are those that get lured to phishing site. and
I think that the only disadvantage of bitcoin is its scaling problem, and also, the slow speed that's all. although the speed has becoming slow recently due to many transactions generated each seconds.

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October 26, 2017, 02:13:58 PM
 #756

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

Thank you!


I think there is only one disadvantage that I can think of as of now, and that is the internet. Bitcoin uses internet mainly, so without it there will be no bitcoin transactions. I consider this as a limitation of bitcoin and other crypto currencies.

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October 26, 2017, 03:05:02 PM
 #757

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

Thank you!

Non refunded . So when you get Scammed you will loss your money and can’t be refunded like when send money by wrong

This is one of the concern that reversible transaction cannot happen and you need to be very careful in terms of using the btc address  while sending the btc from your wallet to another. Also there is an issue of trace ability as it is not at an easy task as it is said thought it also not impossible per say.
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October 26, 2017, 03:10:32 PM
 #758

Transaction on bitcoin between one person to other cannot be traced since one can have multiple wallet and each wallet can generate multiple receiving address. There is no kyc require to store crypto currency.
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October 26, 2017, 03:32:20 PM
 #759

Bitcoins Are Not Widely Accepted NOT RIGHT NOW.
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.
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October 26, 2017, 03:41:52 PM
 #760

Its biggest disadvantage is its price. The price is too big for each 1 bitcoin making it hard to use as a payment in some small business. Making business owners find another currency as a payment rather than bitcoin (e.g. ethereum).

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