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Author Topic: What do you think is a disadvantage bitcoin has?  (Read 9610 times)
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August 27, 2017, 04:15:51 PM
 #301

In my opinion, the most important drawback of bitcoin is too high fees for the transaction, which is very unprofitable for small purchases and the lack of opportunity to use bitcoins in any store.


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August 27, 2017, 04:24:13 PM
 #302

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
I also think the same as you. The fee incurred when transacting bitcoin is too great, even nearly half of the total bitcoin we will use for transactions. Maybe that's my opinion, is there any other opinion?

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August 27, 2017, 05:17:14 PM
 #303

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
I think the most obvious disadvantage that bitcoin cryptocurrency can possess is its legalization among the other nations because bitcoin has been widely spread and popular yet cannot be operated and be use because the legalization is not yet fully accepted to be a term of payment which abduct bitcoin capacity and capability to be use in tems of payment in different business establishments to avail products and services. Also I can state that it will be also a disadvantage that bitcoin can just be accessed online limiting people to only use bitcoin if they do have internet connection.


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lighpulsar07
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August 27, 2017, 11:02:04 PM
 #304

Well the disadvantage of bitcoin is high transaction fees and also the time finding a block is now longer than usual and lastly the dispute between bitcoin core to segwit2x devs. It is total rip off when you see the transaction fee is higher than the total bitcoin you are sending.



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August 27, 2017, 11:22:58 PM
 #305

I don't have any issue with delay in confirmation time as I am ready to wait even longer but for me the only problem with bitcoins is that I cannot spend it anywhere physically in my city and whenever I have to spend my bitcoins I need to sell it first and convert it to fiat currency which again involves additional fees.

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August 27, 2017, 11:36:51 PM
 #306

One of the biggest advantages for me is when I send butcoin to the exchanges site or to another wallet the transaction is very big and i think more than 3 to 4 dollars and thats very sad . Because before the transaction fee is very low what ever how many bitcoin you send it the fee is the same. I hope it will back again the original transaction like last few 2 years ago. Low fees is good not highfees.

       


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August 27, 2017, 11:56:47 PM
 #307

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
I also think the same as you. The fee incurred when transacting bitcoin is too great, even nearly half of the total bitcoin we will use for transactions. Maybe that's my opinion, is there any other opinion?
This is really a big problem for bitcoin, because in addition to fees that continue to rise the price also continues to rise and it makes the fee when compared to the dollar will be very expensive. I have a suggestion maybe you could use a poloniex exchange to do the transaction. Because the fee is still low only 0.0001 btc

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August 28, 2017, 02:38:48 AM
 #308

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

Yes, I agree... the fee is astronomical and will make it difficult for mass adoption.

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August 28, 2017, 02:44:48 AM
 #309

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
The disadvantages of Bitcoin ,in my opinion, is that it has no physical value and also, its msrket value changes from time to time. Physical value is important in an investment. Its volatility can be a disadvantage and may also be an advantage. It is an advantag if the price is continuously increasing, and ofcourse, a disadvantage if it is decreasing. It will be better if the price will be stable that might welcome the interests other businesses into Bitcoin.

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August 30, 2017, 07:59:16 AM
 #310

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
The disadvantages of Bitcoin ,in my opinion, is that it has no physical value and also, its msrket value changes from time to time. Physical value is important in an investment. Its volatility can be a disadvantage and may also be an advantage. It is an advantag if the price is continuously increasing, and ofcourse, a disadvantage if it is decreasing. It will be better if the price will be stable that might welcome the interests other businesses into Bitcoin.
Come on! Stop considering volatility as negative thing. Consider it the positive thing. Treat volatility as an opportunity than fearing it. Volatile nature of the bitcoins leads to the circulation of the bitcoins. Bitcoins are little volatile than any other crypto currency. Bitcoins are king of the digital currency.

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August 30, 2017, 10:30:30 AM
 #311

I think, there is no disadvantages of bitcoin probably, i don't know whether it is true that there is disadvantages of playing bitcoin, i heard about the news that there is manipulation of fees. Eventually there is advantages rather than disadvantages, I don't think so..

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August 30, 2017, 10:55:39 AM
 #312

I think, there is no disadvantages of bitcoin probably, i don't know whether it is true that there is disadvantages of playing bitcoin, i heard about the news that there is manipulation of fees. Eventually there is advantages rather than disadvantages, I don't think so..
The fees is only manipulated by miners or the sites which use bitcoins in transactions i think it is normal but whats not normal the fees are too high in relation to the high price of bitcoins so a few new people in bitcoins who can't afford the fees.


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August 30, 2017, 11:02:30 AM
 #313

I think, there is no disadvantages of bitcoin probably, i don't know whether it is true that there is disadvantages of playing bitcoin, i heard about the news that there is manipulation of fees. Eventually there is advantages rather than disadvantages, I don't think so..
Remove the rose-colored glasses. In this world nothing is perfect. Bitcoin is no exception. High fees make small transactions unprofitable. This makes it difficult to develop trade and discourages new users. You can pretend that there is no problem, but it will not disappear and it will still have to decide.
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August 30, 2017, 11:43:48 AM
 #314

in my opinion bitcoin has no weakness .. it's just that many people use bitcoin as a criminal act. bitcoin is used to embezzle money by some people. ever I heard bitcoin used for money laundering in certain countries. I think bitcoin has a great chance to do that. because it is difficult to track bitcoin users. also most people say the price of fluctuating bitcoin is a weakness .. i think no .. bitcoin price up and down is a chance for you to get profit .. you can take a chance trading in bitcoin .. sell at high prices and buy at a cheap price

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August 31, 2017, 02:11:53 AM
 #315

in my opinion bitcoin has no weakness .. it's just that many people use bitcoin as a criminal act. bitcoin is used to embezzle money by some people. ever I heard bitcoin used for money laundering in certain countries. I think bitcoin has a great chance to do that. because it is difficult to track bitcoin users. also most people say the price of fluctuating bitcoin is a weakness .. i think no .. bitcoin price up and down is a chance for you to get profit .. you can take a chance trading in bitcoin .. sell at high prices and buy at a cheap price

There is no perfect in this wolrd. What you've said is the advatage of bitcoin. About the value of bitcoin,it's normal to flactuate according to demand like any currency . For me one of the disadvantage with using bitcoin is,bitcoins are not widely accepted. 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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August 31, 2017, 03:40:44 AM
 #316

it may be that the current transactions are so many, making a lot of transaccesses pending, so it takes hours to make one transaction. In addition, bitcoin transactions are also very difficult to track, but sometimes people see this as an advantage.


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August 31, 2017, 06:54:44 AM
 #317

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
The disadvantages of Bitcoin ,in my opinion, is that it has no physical value and also, its msrket value changes from time to time. Physical value is important in an investment. Its volatility can be a disadvantage and may also be an advantage. It is an advantag if the price is continuously increasing, and ofcourse, a disadvantage if it is decreasing. It will be better if the price will be stable that might welcome the interests other businesses into Bitcoin.
Come on! Stop considering volatility as negative thing. Consider it the positive thing. Treat volatility as an opportunity than fearing it. Volatile nature of the bitcoins leads to the circulation of the bitcoins. Bitcoins are little volatile than any other crypto currency. Bitcoins are king of the digital currency.
Yes, you can’t deny the fact that volatility is something which panics the investors. It is considered to be the disadvantage of Bitcoins somehow. But if see at the positive side, it hardly matters compared to all the benefits it has.


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andylowe
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August 31, 2017, 09:23:01 AM
 #318

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
Well in every situation, there are always pros and cons that you need to weigh. For bitcoin, the disadvantages that I have known are;
> Lack of awareness and understanding. Lots of people still need to be educated about bitcoin
> Risk and volatility. Bitcoin has volatility mainly due to the fact that there is limited amount of coins and the demand increases each passing day.
>Still developing. Since bitcoin is still on its infant stage, there are still lots to develop until its final potential is established.

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citizenh-ssd
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August 31, 2017, 01:21:26 PM
 #319

In my opinion, the disadvantage is the high commission for the transaction and the possibility of scammers using bitcoin for bad purposes. But despite this, it is the best crypto currency.

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August 31, 2017, 01:58:56 PM
 #320

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
Yes,its one of the most hated thing on bitcoin as of now on which its high fee which would really give us doubts or hindrance to make transfers specially on micro transactions.Its not really worth to use bitcoin on those times and also bitcoin can be used on doing illegal things because of its anonymity features.These are the only things which i can saw on bitcoin.

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