deepakg2m
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January 06, 2018, 10:00:13 AM |
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The major drawbacks of BITCOIN are :~
1. Its unstable price.
2. The negative thinking built in some people's mind because BITCOIN is banned in some countries.
3. BITCOIN is a online investment which is also not safe as cybercrime is increasing day by day.
4. Its fees is very high and transactions are very slow.
5. If due to any reason are wallet details are lost ,everything is gone.
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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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kingzues09
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BaanX
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January 06, 2018, 10:23:49 AM |
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The Transctions are too slow and if your going to have micropayments the fees are expensive. I hope Satoshi will help the entire ecosystem. Some thoughts there will be a lightning network to help bitcoin fasten its transactions
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marielbeckham
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January 06, 2018, 10:29:26 AM |
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In my opinion, one of the biggest here is its limited supply in the market.
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evader11
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Hexhash.xyz
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January 06, 2018, 10:33:56 AM |
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As I observed, the only one I'm concerning in bitcoin was the transaction fees. When I transferred my money to other account, my money will deducted on a high amount. But the rest was great when it comes in trading, investing or even participating campaigns. It also have high security to help your money secured all the time.
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MIZANUR5033
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January 06, 2018, 05:14:24 PM |
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There are some disadvantage of almost everything and bitcoin have this problem as like others. Basically, it is very useful for those people who are related with some kind of online program and trading but there are some problems with this system.
Some countries ban btc for some personal reason so that people can not guess what will occur with them at future and if their government will do like them then they will loose their big amount of money. Addiction of money is very dangerous and people deals by money at there so that it is growing highly inside of people and I think it does not become highly protective and secure place till now so that the illiterate people can be effected there. But all of above it is much better than other,.
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judaspriest
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C O M B O
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January 06, 2018, 05:44:11 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
I always trade with bitcoin and altcoin. I guess that's what I always do. there are many ways to get profit from bitcoin |
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lillyann
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January 06, 2018, 05:48:54 PM |
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Requires knowledge and technology.
It is not to be concealed that currently cryptocurrencies are the domain of people related to cryptography and / or computers. Or people who need to look for means of payment in the shade (mainly illegal activity). Generally: a narrow group of geeks. It requires learning how to do it, installing additional software and generally breaking distrust from other people. In addition, it requires a computer (smartphone) and connection to the network. Paradoxically, this is not necessarily such a big problem - after all, payments by means of telephones are introduced by traditional banks, and people are not bothered by the lack of understanding of the types of threats facing such payments.
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Lalafell
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January 06, 2018, 05:52:58 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
One of disadvantages of bitcoin is you can't used in offline store because they think it is a scam or illegal but I think there are some offline store who already accept bitcoin as a payment of their costumer. In addition to that, I think the unstable price of bitcoin is a also an disadvantages of bitcoin. |
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Yatsan
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Leading Crypto Sports Betting & Casino Platform
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January 06, 2018, 05:54:17 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Volatility, slow transactions and decentralization. Its volatility is the biggest problem in my opinion. Investors really hate it especially whenever its market value is falling because they are losing money at the same time. Decentralization is somewhat a disadvantage for its security lacks authority. Slow transaction is obviously a downside. |
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MadaraAvenger
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January 06, 2018, 05:56:00 PM |
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well the one I can think right now , it's the big fee that bitcoin has at this moment. this is killiing new adopters and they trying to find the new bitcoin and ohhh the circle goes on...but the fees are killing it.
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webdevmastery
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January 06, 2018, 05:57:31 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Yes there are disadvantage also in bitcoins, Most of them are based on the market, If you invest in bitcoins there are chances that the value will decrease or increase further more depending on the markets volatility. So you should always monitor the price before investing or selling your coins. |
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Maheshkumar_Hrangkhawl
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January 06, 2018, 05:58:43 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Well for me, there are more the good than the bad in bitcoin, but if you want to talk about it, i guess the disadvantages of bitcoin right now are : 1. High transaction fees 2. Slow transaction speed These 2 matters is a big disadvantages now for bitcoin in my opinion as it can slow the movement of bitcoin in the market, and not to mention that people will use this fact to bash bitcoin. I think it is kinda crucial things and bitcoin needs to improve it faster. SegWit2X would have solved these issues, at least temporarily. But once again, the greed of the miners prevailed over the long term benefit of Bitcoin. For the past one month or so, the number of unconfirmed transactions have remained constantly above the 100,000 mark. |
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Janine012
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January 06, 2018, 06:06:07 PM |
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Many had a lot of good things to say bout bitcoin, and there are also many disadvantages we can site using it. First, though we can freely use it , it isn't still legally affirmed by the government. In fact, there are a lot of countries banning its people from using it. Secondly, it's volatility, pricing may increase rapidly and may dump hard. Third, high transaction fees when sending to other wallets or exchanges. Fourth, once made any error to any transaction that was completed, you can not revert it back anymore no matter how big or small your transaction is.
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darkangel11
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Defend Bitcoin and its PoW: bitcoincleanup.com
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January 06, 2018, 06:20:41 PM |
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Volatility, slow transactions and decentralization. Its volatility is the biggest problem in my opinion. Investors really hate it especially whenever its market value is falling because they are losing money at the same time. Decentralization is somewhat a disadvantage for its security lacks authority. Slow transaction is obviously a downside.
I don't get it. IMO decentralization is one of the best and most important features of BTC. Why would anybody seek authority to rule over their money? Don't you people have enough of people watching over your shoulder, telling you what you can and cannot do? Do you really want more of it? I will always stand behind decentralization and support it with all my heart. |
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Spaffin
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January 06, 2018, 06:52:10 PM |
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The main problems of bitcoin were and still are low bandwidth bitcoin, massive freezing of its transactions and large fees for their conduct.
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yourialfa
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January 06, 2018, 06:58:37 PM |
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We all know the advantages of BTC, but what are some of the disadvantages??
I think bitcoin has a weakness in transactions. The fees charged for shipping are sometimes very high. and also take a long time to confirm bitcoin transactions. That's all I think. We can see the opinions of others in this thread. |
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nakauten
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January 06, 2018, 07:11:24 PM |
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If you ask me which are the disadvantages i will clearly say it is the blocksize,slow tx confirmations and higher fees?
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8Habits
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January 07, 2018, 02:56:57 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
I think bitcoin has a weakness in transactions. The fees charged for shipping are sometimes very high. and also take a long time to confirm bitcoin transactions. That's all I think. We can see the opinions of others in this thread. That is true - the slow in transactions and the fee. I have mine that is more than a week old already and there is still no confirmation  But I believe this problem is easily fixed in the days to come because bitcoin is great. |
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TheWinnerBro
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January 07, 2018, 02:59:18 AM |
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The main drawbacks of bitcoin, making it cumbersome and unadapted for everyday purchases, is its large commissions for transactions with small purchases and too long time for transactions. These drawbacks turn bitcoin into some kind of digital gold, that is, rather as a means of accumulation, and not as a means of payment.
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8Habits
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January 09, 2018, 04:21:03 AM |
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The main drawbacks of bitcoin, making it cumbersome and unadapted for everyday purchases, is its large commissions for transactions with small purchases and too long time for transactions. These drawbacks turn bitcoin into some kind of digital gold, that is, rather as a means of accumulation, and not as a means of payment.
Yes, at the moment bitcoin is good to use for accumulation, investment, trading, and holding and not for small purchases. This is the ideal thing to do at the moment but I am pretty certain that it will be different in the coming few days where it will be easier to pay for small price purchases and the fee would also be smaller. |
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