bitcoinmagneto
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October 29, 2017, 03:39:24 AM |
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Some of the cons of Bitcoins are as:- 1.) High transaction fees.
2.) These are used as a way to assist criminal activities like drug sales, human trafficking,illegal weapon sales and much more like paying cyber criminals and it's been recently asked by the hackers of GOT to pay their ransom in bitcoins.
3.) It is highly risky as it lacks security,increased regulations due to factors like money laundering, limited production and lack of trusted applications.
4.) It is 7.8 times as volatile as gold as concluded by the analysis by famous finance professor at Duke University.
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francesyrus
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October 29, 2017, 03:58:22 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Bitcoin users are anonymous, Bitcoin can be used in illegal activity. Bitcoin have risks, but are fast, near real time and convenient. When blockchain has many unconfirmed transaction you'll wait for days before you receive your bitcoin and have high fee sending. |
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megynacuna
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October 29, 2017, 04:30:44 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Bitcoin users are anonymous, Bitcoin can be used in illegal activity. Bitcoin have risks, but are fast, near real time and convenient. When blockchain has many unconfirmed transaction you'll wait for days before you receive your bitcoin and have high fee sending. I agree with your points but disagree with the first one. Fiat currencies are physically seen but some fiat transactions are done anonymously and can be used for illegal activities just like any other currency and so you should lump the illegal use of a currency only on bitcoin. |
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desi92
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October 29, 2017, 06:52:31 AM |
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Behind the advantages always there is any disadvantages. As i know bitcoin cannot be used for offline payment .
Bitcoin also has high volatility so only fit for trading tool not for saving that we use for future.
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Synaesthesia
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October 29, 2017, 08:19:04 AM |
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I think the disadvantage of BTC is time transactions. If developers can improve it. I think BTC price will go to the moon.  |
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rexter
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October 29, 2017, 08:36:38 AM |
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Well the other disadvantages of BTC if your high rank account got lost because of hacker attack and you got scam.
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dangful
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Decentralized Jet-Stream Encrypted Multi-Media Dev
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October 29, 2017, 08:42:35 AM |
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Disadvantages of bitcoin for me is very high valued, we cannot invest in this very expensive initial investment and although the price will continue to rise, Bitcoin is very hard to earn these days so I better invest to Altcoins like Ethereum, Bitcoin Cash and Gold.
The Bitcoin's transaction fee is very high also.
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NightCloudz07
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Merit: 10
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October 29, 2017, 08:48:19 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
the BTC advantage is converting to the dollar more money to harvest |
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Allura74
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October 29, 2017, 09:11:14 AM |
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I think there is only one disadvantage of BTC is transaction speed.
For me the some disadvantages of BTC is, it easy to use by other people to scam, so when btc use to scam many people will afraid to try bitcoin and many people will not follow bitcoin, and for me the other disadvantages of bitcoin is the campaign, the campaign in btc was take too long, its about 1month and 3weeks before its end so people who are newbie here is giving up easily. We have to be open minded in everything that all things are always have its advantage and disadvantages. Upon joining to BTC now even in a short time I discover by myself that the disadvantages of bitcoin are many. First, if we don't have internet connection we cannot access to BTC. Second, illiterate to computers or those whom we can say less knowledgeable about technologies, because BTC is sometimes complicated. Third, some stores , supermarket or even in a small sari-sari store near by your town doesn't accept bitcoin as payment. |
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gulshan1
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October 29, 2017, 09:32:50 AM |
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Everything which has made in this world have advantage and disadvantages of using by people. Bitcoin is volatile currency and can go ups and downs any time,which effect to the loss and profit of investors. Bitcoin is charging high fees for the transfer of bitcoin from one person to another person. Due free access at any where some people are using it for illegal purpose and it helps to increase the crime any where. Hacking of bitcoin account is also a big disadvantage.
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androidpobeditel
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October 29, 2017, 09:35:45 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
The disadvantages of bitcoins are insufficient distribution and recognition. Also, exchange rate fluctuations and unpredictability, lack of guarantees and state prohibitions. |
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MAJICOIN
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October 29, 2017, 10:07:49 AM |
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This is digital form of money the disadvantage for bitcoin is that we can’t use it offline without internet it is not used and without internet you will not access your wallet so this is the big and major disadvantage according to me. I didn’t noticed any other disadvantage in bitcoin.
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Domenc
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October 29, 2017, 10:52:08 AM |
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Every aspect has 2 sides; it depends upon the individual how he uses and looks upon it. Bitcoin has many advantages such as peer-to-peer transfer, anonymous transactions, and acts like an asset for an individual and much more. But on the other side, it possess some threats also like Bitcoin anonymity feature is used by criminals to hide their identity, it is used to buy ammunition and drugs, widely used over dark web and so on. So, it is upon user how he uses Bitcoin.
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jessepat
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October 29, 2017, 11:06:05 AM |
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bitcoins are not widely accepted - some countries banned bitcoin currency
Wallets Can Be Lost - if you have forgotten your wallet log in details. hard drive crashes where you save your log in details
No Physical Form - as of now it cannot be used in physical stores. It would always have to be converted to other currencies
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Fasdartin
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October 29, 2017, 11:19:19 AM |
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I think there is only one disadvantage of BTC is transaction speed.
For me the some disadvantages of BTC is, it easy to use by other people to scam, so when btc use to scam many people will afraid to try bitcoin and many people will not follow bitcoin, and for me the other disadvantages of bitcoin is the campaign, the campaign in btc was take too long, its about 1month and 3weeks before its end so people who are newbie here is giving up easily. There is disadvantages of bitcoin, some of them used it as illegal transaction, like buying drugs and weapons that cannot trace when they use bitcoin. Also they use it to cyber crime likem scam. And another disadvantage is you cant used bitcoin when your offline. |
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justyourkuya
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October 29, 2017, 11:22:22 AM |
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One of the advantages I guess of BTC is its volatility in prices. As we all know, every now and then the bitcoin prices change. It can be higher than what we hoped or lower than we expected. That's the reason why some people say the risks involved are really high. But that disadvantage is far nothing compare to the advantages BTC have. Reasons enough why bitcoin is worth-having, saving, and investing.
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NightCloudz07
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October 29, 2017, 11:24:38 AM |
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I think there is only one disadvantage of BTC is transaction speed.
For me the some disadvantages of BTC is, it easy to use by other people to scam, so when btc use to scam many people will afraid to try bitcoin and many people will not follow bitcoin, and for me the other disadvantages of bitcoin is the campaign, the campaign in btc was take too long, its about 1month and 3weeks before its end so people who are newbie here is giving up easily. some disadvantage of BTC is the price sometimes its high sometimes its low |
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StreakW
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#SWGT PRE-SALE IS LIVE
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October 29, 2017, 11:26:07 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
for me bitcoin only disadvantages is high transaction fee and transaction duration but bicoin still my best cryptocurrensy |
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rasmadisulaiman
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October 29, 2017, 11:29:38 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Bitcoin has not been received in all countries and all stores, it makes a constraint for users like me who are confused to spend it. If bitcoin is legalized in all countries and accepted in every field will definitely be very profitable. |
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poletando
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October 29, 2017, 11:38:58 AM |
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disadvantages that i really feel it is if i have many bitcoin, and i want to spend it in real life i need to exchange it into my local currencies so i can use it offline, if i dont do that my bitcoin is useless, because bitcoin in my country is not popular than other country. and maybe the second disadvantages is the confirmations is slower than other cryptocurrencies like ethereum or doge
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