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mabell943
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December 21, 2017, 07:31:37 AM |
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I think there is no disadvantage in using in Bitcoin. In fact there are lots of advantages that we should consider and be thankful off.
Bitcoins help every people in the society to secured their future by making their money more valuable in future; it is a great thing that we can secure our future without worrying.
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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apaachi
Newbie
 Offline
Activity: 92
Merit: 0
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December 22, 2017, 01:14:45 AM |
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there are some disadvantages like,
Bitcoins Are Not Widely Accepted
No Buyer Protection'
Risk of Unknown Technical Flaws
No Valuation Guarantee
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Mystika
Member
Offline
Activity: 134
Merit: 10
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December 25, 2017, 02:52:14 AM |
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Bitcoins have some disadvantage. You cannot use immediately bitcoin in some transactions specially in using physical money. Also it cannot be encash immediately if there a lot of people at the same time encashing it, there will be a congestions in encashing it so you have to wait for days even for weeks to convert it into physical money.
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sheryl26
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December 25, 2017, 02:57:49 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
The disadvantages of bitcoins are also their advantages that everyone said them being volatile and being decentralized because look at yhe value of bitcoins now they are falling so hard after reaching $20k in the market and that is because the bitcoins are not stable. And them being decentralized means that illegal transactions are freely moving all over the world the crimes the drugs all the illegal things that can be bought on the black market can noe use bitcoins in order for them not to be track by the government. |
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Hopeful2017
Member
Offline
Activity: 238
Merit: 10
Greentoken-invest in ecology
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December 25, 2017, 03:00:54 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
The main disadvantage of Bitcoin is the risk in investing And buying it. Because there is no registered company of it, no buyer and seller protection and no official website for it. |
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Maheshkumar_Hrangkhawl
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December 25, 2017, 07:44:58 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
I'm afraid of hacker, they can steal our btc or altcoin No need to be afraid of anyone, if you take proper precautions. Use email verification using gmail and activate 2FA, if you are using a web wallet. If you are using a hardware wallet, then properly store the backups and the recovery sheet. |
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reymartH
Member
Offline
Activity: 112
Merit: 11
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December 25, 2017, 07:51:36 AM |
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If you lose the wallet which had bitcoins stored in it, you have lost all of your bitcoins in that wallet. You cannot regain it and they are simply lost forever.
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qwertyuiop0987654321
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December 25, 2017, 07:51:56 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
We all know that if there's this advantages there is also disadvantages. Thus, Bitcoin has disadvantages. Like for example it is not safe. It is not a real value or tangible coin. It is hackable. You have to take risks. Also, it is volatile. |
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joanshu
Member
Offline
Activity: 130
Merit: 10
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December 25, 2017, 07:52:40 AM |
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The price of the btc is not same it keeps changing . It is not accepted in all the store or local place we visit as most of the people are still not aware about it. There is only limited number of bitcoin ATM.
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screwUdriver
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December 25, 2017, 08:10:54 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
The main disadvantage of Bitcoin is the risk in investing And buying it. Because there is no registered company of it, no buyer and seller protection and no official website for it. Trading with a bitcoin hides certain risks that need to be taken into account by entrepreneurs and private money deals. First of all, the most serious threat is the lack of legal protection for consumers. In the event of a liquidity crisis, the consumer can not be protected |
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AyaYotoko
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December 25, 2017, 08:24:48 AM |
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One of the many disadvantage of Bitcoin is its a decentralised cryptocurrency. Hard, real-life currencies such as the Pound sterling or US dollar are managed by a central bank.
It has no overall regulation, but it relies on the activity of miners. This is the most complicated part.
The currency’s quantity can only be increased if it is mined by a process which involves computers collecting pending bitcoin transactions and turning them into a complex mathematical equation.
Second point i think that it is too much volatile and risky investment. You can see its quick history of its peak price in the last six years.
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Virtonomics
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December 25, 2017, 08:32:37 AM |
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It seems like Bitcoin is getting its head out of the clouds. According to coinmarketcap, its price lost of about 29% during the week and equals now of about $13.700. Capitalization exponential growth turns out to be not quite coherent with the Bitcoin degree of integration into the real life. Undoubtedly, this fact is considered to be one of distinguishing peculiarities of so-called ‘bubble’. According to the majority of analytical forecasts, Bitcoin is to fall three times in 2018-2019, what thus will approximate its capitalization value to a more reasonable one.
Possible reasons of Bitcoin’s decline can be accumulated risks, connected with Bitcoin data storage difficulties in some systems as well as with increase in time and cost of its transactions. Investing in Bitcoin can rightly be called ‘extreme’, and cryptocurrency exchange infrastructure at first sight is struggling with recently established overload. From the other hand, such high volatility is generally very representative for cryptocurrency market, where the significant role is given to political game of main holders.
In addition to the ongoing informational attack towards Bitcoin in terms of Ministry of Finance of Japan and Monetary Authority of Singapore statements concerning its unreliability, there were other events contributing to the fall. Emil Oldenburg, co-founder of Bitcoin.com, declared that Bitcoin has no perspective as a trading currency and sold his holdings. Getting rid of Bitcoin, agents usually invest in its direct rivals, such as BCH.
Simultaneously with Bitcoin decline, one can see rapid growth of most altcoins’ rates. Index of dominance has dropped to approximately 50%. More technologically and informatively loaded, altcoins definitely can have a higher potential. What they really lack is mass accessibility. In order to become a mass instrument, altcoin is to provide an easier and clearer way of its generation.For example, VICoin is based on Ethereum technological platform, which has time and again updated its positions in TOP-10 cryptocurrencies recently, what emphasizes transparent advantages of the system. Moreover, with ‘digging’ (as compared to ‘mining’) being more apprehensible and easier to manage, Virtonomic$ turns VICoin into a massively available alternative cryptocurrency. Analyzing and forecasting cryptocurrency market motion, Virtonomic$ is to meet the basic needs of participants along with highest possible technological standards.
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Sebas.tian
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December 25, 2017, 09:05:31 AM |
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Since bitcoin is manipulated by the internet. I am afraid of the hackers that might break in my account. Eventhough I still dont have big amount of bitcoin in my wallet,I'll still be disappointed because it is the fruit of my hardwork.
Also,unlike physical money, you can't transact with bitcoin because it isn't still approved by the government as a mode of payment.
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waqarkahloon
Full Member
Offline
Activity: 231
Merit: 100
Staker.network - POS Smart Contract ETH Token
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December 25, 2017, 09:10:09 AM |
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Currently things which I see as disadvantages of bitcoin are low transaction speed and high transaction fee which is making it difficult to use in small business. While many other coins are there with fast speed and low fee like monero, dash, deeponion etc
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lemonscentedbreeze
Member
Offline
Activity: 133
Merit: 10
Blockchain with solar energy
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December 25, 2017, 09:38:32 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
I think some of its advantages can be disadvantage also, like for example its accessibility can also exposed its users to hackers and phishing sites while its continuously changing value can sometimes be a problem as a mode of payment between real time transactions. |
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kpcian
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December 25, 2017, 09:42:06 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Obviously, Bitcoin has some disadvantages also. we all are familiar with several types of advantages but we have to know also some disadvantages regarding this system. Firstly, Bitcoin price rate is very much volatile and it doesn't stay at a point because of the high rate of gambling. Secondly, Bitcoin is totally dependent on the internet connection. So that without internet, you can't get any access to this system. And finally, Bitcoin is not regulated by any authorised platform and it's totally an open source system, that's why disaster is not a difficult for this platform. |
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djablom1
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December 25, 2017, 09:46:57 AM |
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It seems like Bitcoin is getting its head out of the clouds. According to coinmarketcap, its price lost of about 29% during the week and equals now of about $13.700. Capitalization exponential growth turns out to be not quite coherent with the Bitcoin degree of integration into the real life. Undoubtedly, this fact is considered to be one of distinguishing peculiarities of so-called ‘bubble’. According to the majority of analytical forecasts, Bitcoin is to fall three times in 2018-2019, what thus will approximate its capitalization value to a more reasonable one.
Possible reasons of Bitcoin’s decline can be accumulated risks, connected with Bitcoin data storage difficulties in some systems as well as with increase in time and cost of its transactions. Investing in Bitcoin can rightly be called ‘extreme’, and cryptocurrency exchange infrastructure at first sight is struggling with recently established overload. From the other hand, such high volatility is generally very representative for cryptocurrency market, where the significant role is given to political game of main holders.
In addition to the ongoing informational attack towards Bitcoin in terms of Ministry of Finance of Japan and Monetary Authority of Singapore statements concerning its unreliability, there were other events contributing to the fall. Emil Oldenburg, co-founder of Bitcoin.com, declared that Bitcoin has no perspective as a trading currency and sold his holdings. Getting rid of Bitcoin, agents usually invest in its direct rivals, such as BCH.
Simultaneously with Bitcoin decline, one can see rapid growth of most altcoins’ rates. Index of dominance has dropped to approximately 50%. More technologically and informatively loaded, altcoins definitely can have a higher potential. What they really lack is mass accessibility. In order to become a mass instrument, altcoin is to provide an easier and clearer way of its generation.For example, VICoin is based on Ethereum technological platform, which has time and again updated its positions in TOP-10 cryptocurrencies recently, what emphasizes transparent advantages of the system. Moreover, with ‘digging’ (as compared to ‘mining’) being more apprehensible and easier to manage, Virtonomic$ turns VICoin into a massively available alternative cryptocurrency. Analyzing and forecasting cryptocurrency market motion, Virtonomic$ is to meet the basic needs of participants along with highest possible technological standards.
If bitcoin will fall 2 to 3 times in 2018 is there a possible way an other crypto currency will go higher 2 to 3 times maybe ethereum will be on top by then we do not know you need to believe in bitcoin. |
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sungaiyangderas
Member
Offline
Activity: 158
Merit: 10
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December 25, 2017, 09:48:43 AM |
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the main deficiency of bitcoin, making it impractical and unused for everyday purchases, is a large commission for transactions with small purchases and too long for transactions. This deficiency converts bitcoin into a kind of digital gold, that is, as an accumulation tool, and not as a means of payment.
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Haley444
Newbie
Offline
Activity: 24
Merit: 0
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December 25, 2017, 07:38:52 PM |
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We all know the advantages of Bitcoin, however there are a portion of the disadvantages too. Its limited supply in the market, exceptionally capricious in its price, the volatility of Bitcoin is so high, some countries ban the usage of Bitcoin. But in my opinion people's interest in Bitcoin is increasing day by day.
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Intersan
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December 25, 2017, 07:50:09 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Bitcoin is very great currency, but there is a reason why bitcoin usually ban in some countries. Since it is a digital currency it can be use in illegal transaction, gambling and etc. to hide there identity to the law. Another is being volatile price, we have no idea when the price will increase so that our money have no assurance to earn profit or maybe it will lose. Additionally, it will works only using an internet and most of our payment is in cash or card that bitcoin has nothing (maybe in the future). |
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