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Author Topic: What do you think is a disadvantage bitcoin has?  (Read 9610 times)
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August 04, 2017, 08:34:21 PM
 #181

Weakness of bitcoin if no longer using its services, but I think it's a common right because all there are weaknesses of each. I think later bitcoin will fix its weakness.
Brother I would like to say that first of all don't even mention a weakness here because bitcoin having no weakness. If you wanna mention weakness then you should go for other currencies and mention there because bitcoin has toped the market why they have toped the market because they have not even a single weakness so I would like to say don't even think.



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August 05, 2017, 11:49:40 PM
 #182

Yes, one of the main disadvantage of bitcoin is its high transaction fees and also it has one more najor disadvantage known as "Deep Web". Its the most biggest illegal activity carried with bitcoins.It should be shut down as soon as possible. Because it is also the main reason why bitcoins isnt legalised 100%.
I think the deepweb can not be erased, neither does decentralization or anonymity, because it is a hallmark of bitcoin. After all legality will not be too important right now, and I think most users and teams will not redeem legality by removing freedom in bitcoin

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August 06, 2017, 03:17:40 AM
 #183

I think the disadvantage of bitcoin is, it is not that stable to something like the price, the volatility and so on. Bitcoin is like a abandon boat in the ocean that follows the waves of the water but it doesn't have any captain or a leader that will lead to a good or bright path and i think if we can make bitcoin stable then it will have a great future without having any doubts.

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August 06, 2017, 04:00:11 AM
 #184

I think the disadvantage of bitcoin is, it is not that stable to something like the price, the volatility and so on. Bitcoin is like a abandon boat in the ocean that follows the waves of the water but it doesn't have any captain or a leader that will lead to a good or bright path and i think if we can make bitcoin stable then it will have a great future without having any doubts.

even most of peoples i means bitcoin users take belief that unstable bitcoin price give them many profits by trading.

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August 06, 2017, 05:00:46 AM
 #185

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
Yes I believe in that, the fees are the most annoying one when it becomes on sending and receiving bitcoins. But another fact that any moment the bitcoin can collapse and all of our funds and investments will disappear, that's worst I hope that day would never happen.

Thats true, I think the bitcoin has the disadvantage that it is volatile, value for btc dumps in the extreme way it could be, and it brings your money into a lower price from its original, and definitely it may blow your mind , but the good thing about it was, it pumps its own value more than before, and you only need to do is wait.

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August 06, 2017, 05:02:47 AM
 #186

Beside the bitcoin is very easily lost and stolen, bitcoin currency is not controlled by the government so that its free use is done by criminals such as money laundering or drug transactions. So. many people who do not know about bitcoin think that this currency is illegal.


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August 06, 2017, 05:05:44 AM
 #187

Yes, one of the main disadvantage of bitcoin is its high transaction fees and also it has one more najor disadvantage known as "Deep Web". Its the most biggest illegal activity carried with bitcoins.It should be shut down as soon as possible. Because it is also the main reason why bitcoins isnt legalised 100%.
I think the deepweb can not be erased, neither does decentralization or anonymity, because it is a hallmark of bitcoin. After all legality will not be too important right now, and I think most users and teams will not redeem legality by removing freedom in bitcoin

Do you see the exchange BTC-e concern with money laundering, their website offine down and has been seized by FBI in few weeks ago? So, don't think Bitcoin in current still anonymous as our define in first time, Bitmixer has confirm this issue.

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August 06, 2017, 05:31:09 AM
 #188

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
Yes I believe in that, the fees are the most annoying one when it becomes on sending and receiving bitcoins. But another fact that any moment the bitcoin can collapse and all of our funds and investments will disappear, that's worst I hope that day would never happen.
Very true, I think the fees of every transaction are the disadvantages because along with the increasing price of bitcoin the fees are going high too. Anyway, I think bitcoin could not dissapear that easily because as long as we are here from bitcoin it would never be perish.

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August 06, 2017, 05:39:49 AM
 #189

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
Well, in truth, such a fee is present in every transaction that you make. It happens with fiat when you send a transaction via your bank. They request payment for validating the transaction. The only difference is that this fee is quite small. At times the transaction fee for Bitcoin may be big, but our devoted Bitcoin developers are continually working on a solution to reduce the fees so that they may equal that of fiat. In truth, on August 1 when Segwit was implemented, fees began to drop. This is because each transaction now takes up less space in a block. Thus, more transactions can be confirmed in one block. This places downward pressure on transaction fees.

Moreover, transaction fees should continue to decrease in the coming months, and hopefully, transaction fees may be even lower than that requested by banks.

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August 06, 2017, 05:42:39 AM
 #190

Beside the bitcoin is very easily lost and stolen, bitcoin currency is not controlled by the government so that its free use is done by criminals such as money laundering or drug transactions. So. many people who do not know about bitcoin think that this currency is illegal.
Not only virtual currency or bitcoin or something else, when there is something advantageous sure the same gets some disadvantages. It's our responsibility to make an earning through the positive features. Even I got hacked, and as the amount was small I didn't experience big loss. Later made myself stronger through increasing the security of the wallet.


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August 06, 2017, 05:52:58 AM
 #191

Beside the bitcoin is very easily lost and stolen, bitcoin currency is not controlled by the government so that its free use is done by criminals such as money laundering or drug transactions. So. many people who do not know about bitcoin think that this currency is illegal.
I do not think any kind of community thinking will matter, as bitcoin develops, I'm sure they'll start getting to know and see bitcoin that bitcoin is not an illegal currency as the government says and I think bitcoin safe enough to save money, I do not agree with you about "easy stolen", because I never get my bitcoin stolen?

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August 06, 2017, 06:22:19 AM
 #192

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

I think it have a lots of disadvantages all of us does. The fact that bitcoins are decentralized are also disadvantage because it can cause illegal transactions a illegal things like drugs ,killers or other stuffs. And the fact that you wallet can be easily been hacked if you do not have that much security. Lastly the bitcoin value, maybe one day it might corrupt then the value will be nothing as in zero.

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August 06, 2017, 06:36:51 AM
 #193

I think the disadvantage of bitcoin is, it is not that stable to something like the price, the volatility and so on.

I think this is just due to illiquidity and the realities of incompetent exchanges. Many investors are still scared to get involved with the current exchanges. But this will change in time; clearly Bitcoin is here to stay, and we are seeing increasing mainstream acceptance and regulation.

In that vein, the bigger problem that I see is fungibility. Bitcoin is not particularly private; it is far too easy (even with good opsec) to be linked to previous payments. I'm really looking forward to Tumblebit and other privacy-enhancing tech, because the blockchain analysis sector is growing quickly. We need tools to fight back....

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August 06, 2017, 06:59:45 AM
 #194

I think the disadvantage of bitcoin is, it is not that stable to something like the price, the volatility and so on. Bitcoin is like a abandon boat in the ocean that follows the waves of the water but it doesn't have any captain or a leader that will lead to a good or bright path and i think if we can make bitcoin stable then it will have a great future without having any doubts.
Well we can't remove the volatility on bitcoins it is natural ,Do you think if bitcoins is stable it will be as popular now. No, Bitcoins is totally have a volatile market and it will become the problem or disadvantages of bitcoin if it will becone a stable as gold . For me its better not to think for disadvantages because we are more benefiting on its advatages.


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August 06, 2017, 08:32:42 AM
 #195

The main disadvantage of Bitcoin, I think, is the fact that its price is always on the move. In other words, it is highly volatile. For some, like major traders, I guess that is a good thing, but for business owners, this is usually not a good thing. The money earned by the business would continue to change in value. It would not be a reliable wage. I know that the same occurs with fiat, but, once again, the change is hardly noticeable. I mean the value of a dollar is very stable. Since Bitcoin is a deflationary currency, in the long run, it would be a good payment method, but short-term benefits vary according to circumstances. This is one of the main reasons that businesses do not accept Bitcoin as payment.

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August 06, 2017, 10:00:07 AM
 #196

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
In my opinion, the biggest disadvantage of Bitcoin is its lack of stability or its volatility in terms of its price or value. Bitcoin is already a big community but if more people will use and invest into Bitcoin, it will make the value of Bitcoin highly stable. It is just that its value depends on the market's demand, so change on its market's value is inevitable as of now. Hoping that it will eventually be less volatile.

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August 06, 2017, 10:07:57 AM
 #197

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

I think it have a lots of disadvantages all of us does. The fact that bitcoins are decentralized are also disadvantage because it can cause illegal transactions a illegal things like drugs ,killers or other stuffs. And the fact that you wallet can be easily been hacked if you do not have that much security. Lastly the bitcoin value, maybe one day it might corrupt then the value will be nothing as in zero.

That is true the couple of disadvantageous that bitcoin has is firstly the price is not stable. There is too much of price fluctuations due to which many people stay away from it. Secondly you are right that being decentralized some of them can take this advantageous and do some illegal stuff.

But I think if govt make it legalize than they should be able to track the transaction and they could reach to the culprit people.

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August 06, 2017, 10:17:18 AM
 #198

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

I think it have a lots of disadvantages all of us does. The fact that bitcoins are decentralized are also disadvantage because it can cause illegal transactions a illegal things like drugs ,killers or other stuffs. And the fact that you wallet can be easily been hacked if you do not have that much security. Lastly the bitcoin value, maybe one day it might corrupt then the value will be nothing as in zero.

That is true the couple of disadvantageous that bitcoin has is firstly the price is not stable. There is too much of price fluctuations due to which many people stay away from it. Secondly you are right that being decentralized some of them can take this advantageous and do some illegal stuff.

But I think if govt make it legalize than they should be able to track the transaction and they could reach to the culprit people.

Well the stability of Bitcoin can be a double edge sword for both the consumer and the trader. The volatility of Bitcoin for the consumers may be a bad thing for them because your Bitcoin when transacting can be worth less than what it was yesterday. But it can be advantageous to investors when they think that the volatility of Bitcoin can be profitable because of buying it low and selling it high. We can now see a clearer view for Bitcoin it is easy to think that volatility can also be an advantage for some people.

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August 06, 2017, 10:42:45 AM
 #199

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
Yeah, I agree that the disadvantages of bitcoin is the high fees. However, in my case I am a student and I couldn't focus on my study. Since I have started to bitcoin I could not even review my notebook and  my score and every test is becoming low.


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August 06, 2017, 08:06:31 PM
 #200

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
Yeah, I agree that the disadvantages of bitcoin is the high fees. However, in my case I am a student and I couldn't focus on my study. Since I have started to bitcoin I could not even review my notebook and  my score and every test is becoming low.
That’s wrong. Your first priority should be your studies. Bitcoins should be treated as a source of additional income rather than the main purpose of your life. You should set a time that should be allotted to our trading. Don’t neglect our studies for anything.

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