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Author Topic: What is the biggest disadvantage of Bitcoin?  (Read 25557 times)
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November 07, 2017, 02:40:27 PM
 #921

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 the most disadvantage of bitcoin is that it has a value that is unstable because somehow if luck isn't that good and you have been exact in dumoing of value. Eventhough you have a lot of money to invest your money will dump too because it is in bitcoin and not on the original currency. And I think bitcoin isn't that good in terms of savings.

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November 07, 2017, 02:47:21 PM
 #922

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 the most disadvantage of bitcoin is that it is not widely accepted in many country because we all know that the current status of bitcoin in some countries aren't that good and some of the countries having some move in order for bitcoin to have tax when earnings and worst is to be ban.

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November 07, 2017, 02:50:38 PM
 #923

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

Thank you!

We all know that bitcoin is a good thing to many people but for me the biggest disadvantage of bitcoin is that it is not accessible by all the people because we all know that if you like to access bitcoin you must have internet in order for you to have earnings and start business. While others doesn't have interner and sadly devices for use.

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November 07, 2017, 04:13:49 PM
 #924

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 the most disadvantage of bitcoin is that it is not widely accepted in many country because we all know that the current status of bitcoin in some countries aren't that good and some of the countries having some move in order for bitcoin to have tax when earnings and worst is to be ban.
- Because bitcoin is not under the control of the law, and it can be used for illegal activities, that will affect the economy, so some countries ban it, in addition, bitcoin is still a new field, it still does not create trust for many people, not been widely accepted is understandable, but I think the government will soon accept Bitcoin and brought into use in real life
- Actually I do not think this is the biggest disadvantage of bitcoin, I still feel the time to confirm the transaction is a big disadvantage, transaction fees are gradually rising but time to confirm is too long, that makes me very disliking.
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November 09, 2017, 06:05:12 PM
 #925

There's two drawbacks in my point of view:-Transactions are not reversible-If you get rid of the key, you eliminate the moneyI consider fundamental essentials greatest disadvantages because people are employed to have the means to repair mistakes: you are able to continuously totally reset passwords, make contact with the assistance provider, see your lender office, and many others...in Bitcoin, there is no next chance, and that is a huge responsibility that many men and women might not recognize untill it is also late on their behalf.Also, these down sides are by-design and style. Another Bitcoin troubles like deal charges or affirmation time will likely rise in the potential as new developments are used. However, the difficulties I pointed out will need a complete lso are-design of the gold coin.
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November 09, 2017, 10:22:17 PM
 #926

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

Thank you!
As most of the people are saying, I also think that the biggest disadvantage of bitcoin is its liquidity or volatility. its market value that is changing from time to time is what makes Bitcoin risky si.ce there are times that its price is falling whivh is its downside. Another one is the legalization. Bitcoin is not yet legal to most of the countries that limits the use of being a ccurrency.
The legality of bitcoin is not really an issue just look at all the things people buy that are illegal like drugs, bitcoin is nothing like that that is why it is going to be very difficult to ban it since bitcoin in itself is not damaging to the people or bad for your health.



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November 10, 2017, 10:29:39 PM
 #927

The biggest disadvantage of bitcoin is the absence of the capability to spend bitcoins right, bypassing the trade. This not only hinders the growth of bitcoin but also endangers users of crypto currencies just before the legal guidelines of the point out.
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November 10, 2017, 10:37:04 PM
 #928

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 is the way it has a high price but it is still not that popular or not properly accepted by stores. I think it is also because of the volatility of bitcoin. And also, it's transaction is so slow making the users irritated.
I think the bitcoin disadvantage is that bitcoin price or value is unstable. No one can predict when the bitcoin prices will rise up or when the bitcoin prices falls down. And i think thats the diasadvantage of the users not knowing of it. Tha stability of bitcoin.
The instability can play to your advantage too but that is not something that is mentioned very often, every time I want to buy something I wait for bitcoin to go up that way I spend less bitcoin than I would have spent if I bought immediately when the price was down.



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November 10, 2017, 11:01:35 PM
 #929

I think one of the biggest disadvatange of bitcoin is when the price of bitcoin decrease more. And one is the transactioj fee is very high and other is when the transaction takes too long to before its fully comfirm so we need to wait few hours before you use your bitcoin.

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November 11, 2017, 03:55:52 AM
 #930

I think one of the biggest disadvatange of bitcoin is when the price of bitcoin decrease more. And one is the transactioj fee is very high and other is when the transaction takes too long to before its fully comfirm so we need to wait few hours before you use your bitcoin.
The transactions fees are already lowered a little bit and i think that is enough to say that bitcoin is still improving and trying to solve the current issues and for the price that is decreasing more and more is very normal for the market of bitcoin since the price is just depending on the demand of the people in the bitcoin market. All of the things that you have said is common and normal so i don't think that there is something to be worried about.

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November 11, 2017, 10:56:52 AM
 #931

I believe the biggest advantage of bitcoin is the unstable price because while you are saving you can earn a huge profit as long as you have a big patience on waiting its price another thing is that bitcoin is just like a  self banking it is really secure because you can put your money through online and no one know that you have money on your online wallet because  it has a  pasword.

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November 11, 2017, 11:05:23 AM
 #932

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

Thank you!
We do not know how long is bitcoin and being stable for a long time.But I am hoping that it could last forever to help many people who are in need financially.Investing here we need to wait patiently to make our money profitable.The value of bitcoin sometimes higher and sometimes low our investment can affect because of its flactuating value.And we do not really know how we secured and safe because there are many hackers who our accounts and money.

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November 11, 2017, 11:25:35 AM
 #933

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

Thank you!
I think one of the biggest advantages of Bitcoin would be its highly volatile nature. It's unstable nature is what makes it unsuitable for everyday use as it's value goes up and down everyday.
High transaction fees is another disadvantage of Bitcoin. High transaction fees makes Bitcoin's use impossible for small transactions.

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November 11, 2017, 11:29:43 AM
 #934

The biggest disadvantage of bitcoin is that this currency is not strong in law. Many people misuse Bitcoin as a payment such as buying drugs and terrorist financing. So many countries are banning Bitcoin.
That's really a bad way to judge something. Criminal activities such as buying and selling drugs online took place even before crypto currencies were formed. They used different kind of prepaid cards to commit such crimes - which were almost untraceable. Crime using fiat also takes place. So it's actually useless to blame crypto currency for such acts.


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November 11, 2017, 12:28:13 PM
 #935

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

Thank you!
I don't think that bitcoin have any disadvantage in big level .
People are using for right works and also making legimate earnings , and j think this is the way if spreading the money uniformly in the world and Make people worthful equally .
If we can see toward the negative factor of have bitcoin in our life then we can say that only limited no. Of People are in the world who are using bitcoin for illegal purpose like drugs dealing and another secret payments which are not allowed legaly .
But still I don't think that such types of misuse of the bitcoin will exists in the future because the world is going toward the digitisation and now one will use cash , so no one can use tmsuch things in bad works.


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November 11, 2017, 02:19:56 PM
 #936

I think bitcoin has no disadvantage because bitcoin is very useful to alot of people especially in paying.Cashless,Effortless and you dont have to worry if you have no money.Especially bitcoin in this site you can earn big and I believe that bitcoin has no disadvantage.
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November 11, 2017, 02:24:03 PM
 #937

Bitcoin's biggest disadvantage

Is its value fluctuates according to its demand. The other disadvantage is that bitcoin is not accepted by all places. Bitcoin is not that popular. Not all people know what bitcoin is.

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November 11, 2017, 02:33:55 PM
 #938

I think the one disadvantage of bitcoin is its volatility. Although this is not really totally an advantage for all because for some traders, bitcoin's volatility is very useful for them because more volatile equals higher profit at the same time higher loss.
I think one disadvantage too is the high transaction fees. High transaction fees makes people can't withdraw small amounts of bitcoin.

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November 11, 2017, 02:37:54 PM
 #939

I think bitcoin has no disadvantage because bitcoin is very useful to alot of people especially in paying.Cashless,Effortless and you dont have to worry if you have no money.Especially bitcoin in this site you can earn big and I believe that bitcoin has no disadvantage.
Oh, believe me, bitcoin has plenty of disadvantages - it is even hard, to begin with, point them out. To name a few.

1. Bitcoin is not as easy as using fiat based PSPs, you need to educate yourself first to be able to use it.
2. Bitcoin transaction won't ever be as fast as a centralized payment processing system.
3. Bitcoin is extremely volatile and unstable - there is high risk associated with it too.
4. Bitcoin is still in its infancy stage and we have some growth to do before BTW will lreach full and final potential.

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November 11, 2017, 03:31:54 PM
 #940

Like other coin they are also have some disadvantage associate with bitcoin. Bitcoin are not widely accepted currency, vary small number of merchant using it. Another reason is wallet can be lost if the wallet file is corrupted due to virus or any other thing the all data might be gone and cannot be recovered. Bitcoin is an unstable currency its price highly flaunted time to time.  Their is no Byers protection l. E. When goods are brought by using bitcoin the seller doesn't send the promised item. Another reason is bitcoin might be contain  unexploited flaws

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