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Author Topic: What do you think is a disadvantage bitcoin has?  (Read 9515 times)
bitcoin31
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July 23, 2017, 08:39:29 PM
 #81

Thats right one of the most disadvantage of bitcoin when you are sending bitcoins to other wallet you need big transaction fee and even you pay high fee it takes more hours or maybe few days before the transaction confirm and thats not good . I hope the fee will become less and the transaction will be fast.
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July 23, 2017, 09:18:31 PM
 #82

The disadvantage for this is that you keeping on wasting your time from your regular works. I think people are enjoying bitcoins because there a lot of fun to spend than to your family.

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July 23, 2017, 10:23:25 PM
 #83

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

The fees right now may be the thing that holds Bitcoin back as a mainstream coin for use as a currency. I think in the future, this is the reason that Bitcoin may only be used for large transactions and for a store of value.

It's possible that small transactions are going to be done with altcoins in the future rather than Bitcoins because the fees may be smaller.

Other than that disadvantage, Bitcoin really has the advantage over other cryptocurrencies because it is the first and most well known and currently the most valuable.

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July 23, 2017, 11:33:50 PM
 #84

Probably not a disadvantage precisely but perhaps if there were some kind of incentive to nodes and not just the miners would help that more nodes were integrated into the network making it much broader, Maybe when the value was low was not very important but in the future if the value continues to grow it would be interesting to have that possibility for many of the users currently running the nodes, However it would also be possible for certain corporations with great resources to take advantage of it and try to have the maximum number of possible nodes, In the same way  I think would not be very well seen by the community.

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July 24, 2017, 12:08:00 AM
 #85

Thats right one of the most disadvantage of bitcoin when you are sending bitcoins to other wallet you need big transaction fee and even you pay high fee it takes more hours or maybe few days before the transaction confirm and thats not good . I hope the fee will become less and the transaction will be fast.
Of course that's a big deal nowadays, because all users definitely do bitcoin transactions and they certainly object to the price of a very large transaction fee while the confirmation time is also still very long, you need to pay up to $ 0.5 for the fee of each transaction, it is more expensive Than the fee on paypal, is it ?

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July 24, 2017, 12:36:14 AM
 #86

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

It is a big deal but in my opinion not that big of a deal. A transaction fee wouldn't be that much of a big deal when doing bulk transactions, it should only really affect you when you do a bunch of micro transactions. Segwit on August the first, should fix some of these issues and then transaction fees would be lowered. But miners do live off these fees since block rewards are eventually going to get smaller.

Bitcoin, in my opinion is fine where it is now.


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July 24, 2017, 05:01:00 AM
 #87

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

It is a big deal but in my opinion not that big of a deal. A transaction fee wouldn't be that much of a big deal when doing bulk transactions, it should only really affect you when you do a bunch of micro transactions. Segwit on August the first, should fix some of these issues and then transaction fees would be lowered. But miners do live off these fees since block rewards are eventually going to get smaller.

Bitcoin, in my opinion is fine where it is now.

right now, transaction fee is the most problem we need to solve and we really hope that segwit tomorrow will reduce the fee so there is no problem with the transaction. beside the fee, the confirmation is takes too long to gets confirmed but i am sure this will fix too. i think with growing of bitcoin, the network will be make something to do better than yesterday and we can see that bitcoin make some innovation from beginning until now which will give some change into better.

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July 24, 2017, 10:01:03 AM
 #88

High fee for transactions and long confirmation time both are the main disadvantages of bitcoin. These two disadvantages are headache for bitcoin users.



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July 24, 2017, 12:07:41 PM
 #89

I believe one of bitcoin most common and hated disadvantage is the fee when sending or recieving bitcoin. What do you think?
Just throw all your worries about high transaction fee.Its almost solved as we could see now transaction fee has got reduced too much and also transactions being confirmed very fast.Just spammers have understood that segwit is definitely going to be activated and they have left the network who mwere previously responsible for spam transactions.The biggest problem of bitcoin network has almost been solved.

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July 24, 2017, 12:43:23 PM
 #90

The disadvantage for this is that you keeping on wasting your time from your regular works. I think people are enjoying bitcoins because there a lot of fun to spend than to your family.
This is not a disadvantage actually if you can work for bitcoin in your spare time but surely it will be a disadvantage to your kids and family if you cannot give them anytime just because of the extra bitcoin online job you have.  Care must be taken to give family some time also.  Smiley

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July 24, 2017, 01:00:02 PM
 #91

In my opinion the biggest disadvantage of bitcoin is that when some amounts of bitcoins are stolen, It is impossible to prosecute who have stolen that bitcoins.
Bitcoin protects our privacy but it's not good that Bitcoin protects robbers too.

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July 24, 2017, 01:41:25 PM
 #92

Thats right one of the bitcoin biggest disadvantges as of now is the transaction fee because its very high compared before if you send bitcoin fee only is 20k satoshi and if you compared the fee its already 100k plus depends on how much you send bitcoin. I hope someday the fee will back to the 20k satoshi so many people loves bitcoin again. What if your income is not big and minus fee the payout is not good.

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July 24, 2017, 02:12:53 PM
 #93

In my opinion the biggest disadvantage of bitcoin is that when some amounts of bitcoins are stolen, It is impossible to prosecute who have stolen that bitcoins.
Bitcoin protects our privacy but it's not good that Bitcoin protects robbers too.

Prosecute? Why is that? Bitcoin is not entirely anonymous so the address can still be tracked. Many people are saying that it can't be tracked, but it can, and it is proven. If you want a digital currency which is untrackable or anonnymous, use Dash.

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July 24, 2017, 02:48:50 PM
 #94

Bitcoin I think has a weakness. But most disadvantages I do not like. Is a bitcoin easily attacked by viruses or hackers because bitcoin shaped digital .. that's what makes people people lose some of their bitcoin

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July 24, 2017, 04:12:52 PM
 #95

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

I don't think that fees are an issue and I don't see it as a disadvantage at all. I believe transaction fees for bitcoin are quite reasonable. We have lots of options to choose from. If you want faster transaction, then pay a little higher fee and if you don't want to pay high fees then settle with the slower one. It is the convenience we are paying for.

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July 24, 2017, 06:54:29 PM
 #96

Bitcoin I think has a weakness. But most disadvantages I do not like. Is a bitcoin easily attacked by viruses or hackers because bitcoin shaped digital .. that's what makes people people lose some of their bitcoin
bitcoin is the most famous currency and I think it does not have any kind of disadvantage yet but there are a lot of advantages in bitcoin and we can get the advantage of bitcoin so bitcoin is not a disadvantage the price is getting low a bit now a day but I am very sure that the price of the bitcoin will increase after august one.

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Ilegendph
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July 27, 2017, 05:56:31 PM
 #97

For me, the main disadvantage of bitcoin is that it is intangible , because  you cannot pay it directly to a retail store or fast food chain. You will always need to convert it first to your country's currency

Silberman
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July 28, 2017, 10:05:42 PM
 #98

I do not like the excessive payment for the transaction and the inability to use bitcoin without the Internet, because of this, many still do not know about it and can not start making money.
The fee issue could be resolved but bitcoin cannot function without the internet, besides I do not think is such a big problem, people use paypal over the internet and that has not stopped paypal to become one of the most popular payment systems in the world, so I do not see that as a real reason of why people do not adopt bitcoin as a currency.

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mamaya
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July 28, 2017, 10:09:45 PM
 #99

I do not like the excessive payment for the transaction and the inability to use bitcoin without the Internet, because of this, many still do not know about it and can not start making money.
The fee issue could be resolved but bitcoin cannot function without the internet, besides I do not think is such a big problem, people use paypal over the internet and that has not stopped paypal to become one of the most popular payment systems in the world, so I do not see that as a real reason of why people do not adopt bitcoin as a currency.

Paypal has buyer protection and works well with card payments as well as payments through a multitude of sources, currently it is still a relatively difficult process to buy bitcoin for the average person.
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July 28, 2017, 10:22:46 PM
 #100

I think for the cost of receiving and sending is not a problem. Because it all fits their service. If the big fee is probably a good wallet service. Never pending order and proven to pay. I am only afraid of losing my bitcoin due to irresponsible people. That's the weakness of bitcoin in my opinion. Because digital bitcoin is easy to steal. Therefore we as online wallet users should be careful.

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