inimitable777
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Activity: 63
Merit: 0
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October 29, 2017, 12:05:09 PM |
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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
It is still long way for BTC to be accepted in all fields. In my country usually BTC is accepted in some cafes or some small shops. for the surprise our national airlines also accepting BTC as payment. other way to spend your BTC its good to use debit card services like cryptopay. |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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rainbow169
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October 29, 2017, 12:19:21 PM |
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Bitcoin in its current form still too hard to hold, buy and use for general public. As a reserve asset, the price is also far too volatile to give the confidence of stability. As a way of payment and currency, the cost of transation is also too high at the moment, buying a coffee with bitcoin is just not economically viable at the moment.
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Vritesh
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October 29, 2017, 12:23:05 PM |
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Identity of people remains hidden thats why Bitcoin is used for some illegal things such as buying illegal amunitions , drugs etc.It cannot be used without an internet connection .These are some disadvantages of Bitcoin.
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ghost07
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October 29, 2017, 12:25:24 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
the biggest disadvantage of bitcoin thats why government cant make it legalized its because it is not traceable any transaction can be easily made. legal or illegal transaction cant be trace or recognize who send or receives the money. |
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Fria
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Activity: 182
Merit: 40
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October 29, 2017, 12:45:58 PM |
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The only advantage of Bitcoin today is the investment but will not likely as useful as cash that we're using today.
Bitcoin is for investments, trading and gambling but in the future I believe that it will replace cash.
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TonyFat
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October 29, 2017, 01:41:51 PM |
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slow, expensive transactions, well, if at all, if there is no Ineta and light, then the end of the crypt)
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Pakar11220
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October 29, 2017, 02:07:39 PM |
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as of my opinion everything in the world has some advantages and disadvantages.the advantages of bitcoin everyperson knows but the there are a few disadvantages which are as follows.
1.fees is very high
2.its not full secure(means due to some bitcoin looters, as i hear a news about 6 looters including 1 women as arrested by delhi police india)
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Berk
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Activity: 99
Merit: 21
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October 29, 2017, 02:10:09 PM |
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I think the biggest disadvantage Bitcoin does have is fees you see it everywhere now days but a lot of people are complaining specifically about sending smaller amounts of coins and having to pay a fee which is higher than what they want to send.
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Christian13
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October 29, 2017, 02:13:04 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
One of the disadvantages of bitcoin is you can't use it in offline store and you can exchange it in some stuff. As of now some people say that it has high fees in some transactions. In addition to that, I think the biggest disadvantages of bitcoin is the unstable price on online market and trading sites. |
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Gloria_16
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Activity: 112
Merit: 10
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October 29, 2017, 04:49:32 PM |
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Very long transactions, high price, but bitkoyn is wonderful.
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pushups44
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October 29, 2017, 04:51:37 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
While bitcoin is decentralized, governments can make it hard to convert the cryptocurrency into actual goods and services by banning it. They can also impose a hefty tax on it. It is too complicated for the average person at this time. Also, transactions are not reversible, so consumers may feel less safe using it. |
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KingOfWinterfell01
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October 29, 2017, 04:56:24 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Today, mining bitcoins is never as profitable as mining bitcoins before when it first emerged. You would be investing on miner that uses more electricity than suppossedly bringing you profit. Another disadvantage of bitcoins is its overpriced transaction fee. Regardless of the price you send, whether small or big, the transaction fee is fixed but for small transfers, you'll be ending up paying more than what you're acrually transferring and it sucks out the entirety of your savings if you're just starting. |
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Caelanpelley
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October 29, 2017, 05:01:09 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
The biggest downside of bitcoin is that it depends on the internet. Without internet bitcoin did not exist. Big bitcoin networks are very difficult to manage. Its value is more variable. |
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onifla
Newbie
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Activity: 19
Merit: 0
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October 29, 2017, 05:02:21 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
for me this is the some disadvantage of bitcoin No Buyer Protection When goods are bought using Bitcoins, and the seller doesn’t send the promised goods, nothing can be done to reverse the transaction. This problem can be solved using a third party escrow service like ClearCoin, but then, escrow services would assume the role of banks, which would cause Bitcoins to be similar to a more traditional currency. |
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Frank0209
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October 29, 2017, 05:03:33 PM |
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Just type "disadvantages of Bitcoin" on google you will find a lot of article about it  ). The main disadvantages of Bitcoin is it can't be used worldwide because of the legalization, Bitcoin can be taken advantage to commit crime such as drug trafficking or tax evasion, Bitcoin can't be used without internet....Beside the secure of Bitcoin seem like a double-edged sword it can keep your identity anonymous but it's also the main reason why Bitcoin is not legalized worldwide. |
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Larva14
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October 29, 2017, 05:06:16 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Actually, there some disadvantages of bitcoin like you can't access it in offline transaction or even in offline store. One of the disadvantages of bitcoin is the unstable price on online market and there are a time that the price of bitcoin goes down and goes up so that I think it is one disadvantages of bitcoin. |
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Kamote_1102
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October 30, 2017, 02:18:32 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
I'm not sure about this, but I think the disadvantages of Bitcoin are: 1. You still need to pay a fee to trade it to a real cash. 2. Bitcoin's value is not stable. It changes often 3. Investing in Bitcoin is too risky. I heard a lot of Stories that some of them got scammed. 4. You can't use bitcoin in some other countries. I don’t know what are those countries 5. Bitcoin is a digital currency. So, if the Internet is gone, and so is the Bitcoin. |
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Slipknot79
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October 30, 2017, 02:21:46 PM |
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It really depends on how you look at it. A disadvantage can also be an advantage.
For example. Bitcoin is unstable in its price to the dollar.
It does however always seem to bounce back and go higher - therefore being a huge advantage.
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Enyanha
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Merit: 10
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October 30, 2017, 02:40:03 PM |
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high cost and duration of the transaction
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poletando
Full Member
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Activity: 364
Merit: 100
PlayGame.com
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October 30, 2017, 02:52:56 PM |
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the disadvantage for me is just not all store in the world, online or offline shop can accept bitcoin as the payment, if it accept bitcoin as the payment i believe that bitcoin will rising up to the sky, because all people want to have it because of flexible to use and can use it internationally
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