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Author Topic: What do you think is a disadvantage bitcoin has?  (Read 9514 times)
loopes
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July 31, 2017, 11:49:57 AM
 #121

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?

there is no doubt that fee transactions is extremely annoying because if we choose regular fee it can take about 20-30 minutes to get fast transactions we need put more fee. to be honest if i compared the fee of bitcoin transactions one/two years ago it is increasing as well.

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July 31, 2017, 11:56:45 AM
 #122

(--- disadv.)
1. Complication for ordinary (non-technological users)
2. Fees
3. Not suitable for micro payments
4. Lack of undo

(+++ adv.)
1. Lack of undo Wink
2. Independency from banking system
3. Suitable for emerging countries
4. Alternative to non-digital assets

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July 31, 2017, 12:08:51 PM
 #123

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?

there is no doubt that fee transactions is extremely annoying because if we choose regular fee it can take about 20-30 minutes to get fast transactions we need put more fee. to be honest if i compared the fee of bitcoin transactions one/two years ago it is increasing as well.
I agree fees do leave bitcoin at a disadvantage for businesses to adopt it and help it grow but because it takes time for transactions to confirm as compared to its closest competitor ETH it really puts people off who want to invest and use it on a daily basis but we hoping after the scheduled implementations are done maybe things will improve.

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July 31, 2017, 03:29:48 PM
 #124

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?

there is no doubt that fee transactions is extremely annoying because if we choose regular fee it can take about 20-30 minutes to get fast transactions we need put more fee. to be honest if i compared the fee of bitcoin transactions one/two years ago it is increasing as well.
I agree fees do leave bitcoin at a disadvantage for businesses to adopt it and help it grow but because it takes time for transactions to confirm as compared to its closest competitor ETH it really puts people off who want to invest and use it on a daily basis but we hoping after the scheduled implementations are done maybe things will improve.
If it's for more improvement then it will be much better since we can experience low fees with fast transactions ,but if not then we still need to accept and juat go with it flows or find some alternatives.

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July 31, 2017, 04:03:15 PM
 #125

Transaction confirmation is getting longer and more expensive than before, it is a serious sign that there is a big problem with bitcoin, I'm afraid if this is not immediately over then 5 more years it takes at least a week to send bitcoin.

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July 31, 2017, 04:14:52 PM
 #126

(--- disadv.)
1. Complication for ordinary (non-technological users)
2. Fees
3. Not suitable for micro payments
4. Lack of undo


1. With the new generations, hat are more familiar with technology, coming then the whole bitcoin technology would become more familiar to larger number of people.

2. fees are quite reduced right now, I remember a month ago 227sat/b was the priority fee on blockchain.info, this saturday was 116sat/b.. and they took 1.2$ fee for a 34$ transaction.

3. Well I can't argue this because I believe that bitcoin will hardly ever be suitable for micro payments

4. yes but just a little more attention would eliminate that in 99% of the situations.
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July 31, 2017, 06:36:09 PM
 #127

The disadvantages of Bitcoin is the high transaction fees of Bitcoin transactions which makes Bitcoin useless in for small transactions. Moreover Bitcoin can not work offline which is also a disadvantage.

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July 31, 2017, 06:46:38 PM
 #128

The disadvantages of Bitcoin is the high transaction fees of Bitcoin transactions which makes Bitcoin useless in for small transactions. Moreover Bitcoin can not work offline which is also a disadvantage.

It's not all about the extremely high fees. The network is very slow and this makes delays for our transactions. We really missed old fast transaction days. Moreover, some of the groups are trying to divide bitcoin into smaller pieces so that they can centralize it under their control.


     
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July 31, 2017, 09:27:25 PM
 #129

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
On my opinion and based on my experience, the most common and observable bitcoin's disadvantage as time passes by is its transaction fees to be specific the receiving and sending of bitcoin takes a part of your earning just to pay a specific amount to process your transaction. Though it is really in need because miners are payed to process all the transactions are prioritize the big time payers, iti is still a cost to count. I think advantages are just an effect of our own perception and thinking regarding this matter.

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July 31, 2017, 09:32:19 PM
 #130

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?

After the day tomorrow, we'll see lower fees and that's not going to be a disadvantage anymore. I'm not skeptic about bitcoin or thinks anything negative with it. Bitcoin will grow and has a lot of advantage in the market, so if you believe that this crypto will give you a better way of living, you won't be thinking any disadvantage of it.



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July 31, 2017, 09:38:29 PM
 #131

The disadvantages of Bitcoin is the high transaction fees of Bitcoin transactions which makes Bitcoin useless in for small transactions. Moreover Bitcoin can not work offline which is also a disadvantage.

It's not all about the extremely high fees. The network is very slow and this makes delays for our transactions. We really missed old fast transaction days. Moreover, some of the groups are trying to divide bitcoin into smaller pieces so that they can centralize it under their control.
The slow network confirmation is just an indication that bitcoin is getting crowded which means that people are doing transactions everyday. And guess what? Bitcoin is becoming popular nowadays and people started to use bitcoin and trying it out if it is for real. This will be fix very soon just stay tune.

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July 31, 2017, 11:42:15 PM
 #132

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?

there is no doubt that fee transactions is extremely annoying because if we choose regular fee it can take about 20-30 minutes to get fast transactions we need put more fee. to be honest if i compared the fee of bitcoin transactions one/two years ago it is increasing as well.
I think this problem will be solved soon, I think everyone already knows that will happen hard fork in recent days. Maybe with this occurrence of course you will not need a long time again to wait for a confirmation in every transaction you do. I hope this will happen quickly

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July 31, 2017, 11:51:39 PM
 #133

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?

there is no doubt that fee transactions is extremely annoying because if we choose regular fee it can take about 20-30 minutes to get fast transactions we need put more fee. to be honest if i compared the fee of bitcoin transactions one/two years ago it is increasing as well.
But nowadays I am seeing that the transaction of the bitcoin is not taking too much fees but it is taking now a lower fees and now after segwit the fees will be reduced more and so the problem will be solved.


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fathur.aza
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August 01, 2017, 06:32:14 AM
 #134

Weakness of bitcoin when you are out of luck, it's a fact that you are wrongly sending the wrong bitcoin kealamat.
Many have to fix bitcoin let no no weakness that berang.
andylowe
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August 01, 2017, 09:14:11 AM
 #135

Weakness of bitcoin when you are out of luck, it's a fact that you are wrongly sending the wrong bitcoin kealamat.
Many have to fix bitcoin let no no weakness that berang.
Yes, you will be the unluckiest person in the world if your hard drive crashes or a virus corrupts data, and your wallte file is corrupted. Your precious bitcoin will just be "lost' like a bubble. This can bankrupt a wealthy bitcoin investor in just a few seconds and there's no way to even recover it.

loopes
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August 01, 2017, 09:28:03 AM
 #136

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?

there is no doubt that fee transactions is extremely annoying because if we choose regular fee it can take about 20-30 minutes to get fast transactions we need put more fee. to be honest if i compared the fee of bitcoin transactions one/two years ago it is increasing as well.
I agree fees do leave bitcoin at a disadvantage for businesses to adopt it and help it grow but because it takes time for transactions to confirm as compared to its closest competitor ETH it really puts people off who want to invest and use it on a daily basis but we hoping after the scheduled implementations are done maybe things will improve.
If it's for more improvement then it will be much better since we can experience low fees with fast transactions ,but if not then we still need to accept and juat go with it flows or find some alternatives.

yeah it what we can do because we only a user of bitcoin. but after segregated witness on today (August 1) will come better future of bitcoin also the transaction of bitcoin more fast and cheaper.

..C..
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........What is C?.........
..............
...........ICO            Dec 1st – Dec 30th............
       ............Open            Dec 1st- Dec 30th............
...................ANN thread      Bounty....................

wizardee
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August 01, 2017, 10:21:32 AM
 #137

I think the main problem with bitcoin is the non-reversible nature. Some will debate that it is a great thing and I would agree, the only problem I have with this is that if you happen to become in that troubled situation? There is absolutely nothing that you can do to help get your funds back.

On the contrary however, this is one of the main reasons why bitcoin is loved, widely adopted and secure. I guess the debate can go both ways.
ocid
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August 01, 2017, 10:59:17 AM
 #138

I think one of the shortcomings of bitcoin risks being lost or stolen through malware. Lately there are many emerging malware that is very detrimental to bitcoin users, Therefore we should be more careful to choose safe bitcoin storage so as not to lose all the contents of the wallet that we have.

..C..
.....................
........What is C?.........
..............
...........ICO            Dec 1st – Dec 30th............
       ............Open            Dec 1st- Dec 30th............
...................ANN thread      Bounty....................

TheBTCAlex
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August 01, 2017, 11:05:19 AM
 #139

I believe that the biggest problem for bitcoin is that it is not widely accepted. This makes it a bit harder to spend bitcoins and use it as a currency.
Even today, 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, though this is less likely.

yadi cihuy
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August 01, 2017, 12:53:36 PM
 #140

I think a great fee is also offset by good service so it does not matter to me. The weakness of bitcoin may be in my opinion is this wallet is susceptible to viruses .. which causes the loss of your bitcoin. I have her bitcoin wallet friend gone. The number of deposits is often lost. I do not know what the problem is. Since then I have to be careful using my wallet account

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