GreenBits
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Merit: 1048
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November 15, 2017, 05:35:31 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
oh man, sit down and let me rap to you. bitcoin is digital. digital is only convenient until the power or internet goes out, ask all the folks in Florida, Texas, and Puerto Rico. bitcoin is not physical, and therefore can never be truly anon. you are trading temporary privacy for the potential to make immediate anon transactions. understand that the blockchain is literally a distributed, public ledger. eventually, they will know exactly who was doing what at each address. the technology to analyze the blockchain and compare it with metadata simply has not emerged yet (public, at least. the gov has had this technology for years). bitcoin is like, the worst possible thing you could use to make an illicit transaction. |
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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Christian_14
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Activity: 24
Merit: 1
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November 15, 2017, 05:57:04 AM |
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One of the advantage of bitcoin is its value. We all know that is value is high right now and it keeps getting higher
because this days it is in demand. Another advantage is you can keep it as long as you want and just wait for its
value to raise more. But there are some disadvantages, one of them is you bitcoin wallet can be hacked by some one
and take all of you bitcoin. Another is it takes time to earn bitcoins by joining campaigns and stuff because you need
to work hard for months until you received your bitcoins not like the real world money that can be earned monthly
weekly daily and even in an instant.
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coynedterm
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November 15, 2017, 06:58:04 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
I think disadvantage should not be discussed by us because disadvantage of the bitcoin is only in some particular field are existing . Here perosnally I myself included the bitcoin in that transparency system where no one can use it for the bad thing , but still few people are using it in the offline to make deals in direct cash only . Here in my opinion in the incoming time people will no more able to missuse easily Because everything will be online and no one will make offline deals with the bitcoin . |
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hajimasan
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November 15, 2017, 07:11:07 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
No doubt that bitcoin has disadvantage but still it has lots of the advantages where we can see that we don't have any need to discuss about the disadvantage Because disadvantage are become very narrow against the bitcoin advantage . Here it is the basic truth that only fee people are using it for the illegal purpose not everyone using it for bad things . I only heard that money laundering , illegal purpose payment , scam person with bitcoin have ease of having annonymous quality such types of things are not better for the future of the bitcoin , but still here nothing will go these with the trend of the bitcoin Because Everything is going online and people will not much use cash for the dealings , so chances of money laundering and illegal payment will get down to zero . And also here we see the example of the big economy countries who accepted the bitcoin offically , they can monitor easily and also they can apply the tax system so it is not that thing which can be use for illegal purpose or we can say have any disadvantage . In this world Everything have advantage and disadvantage , so leave this factor for the bitcoin . |
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Bittoshi
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November 15, 2017, 07:13:29 AM |
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Well, I would call the currently almost $10 transaction fee one of the biggest disadvantages of Bitcoin. A community not able to find a solution for this (increasing blocksize for example) is also a big disadvantage.
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Bitgesell (BGL): A modern and truly scarce store of value. Burn rate is 90% of tx fee. Yearly block reward halving.
It's just the beginning!
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TastyChillySauce00
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Leading Crypto Sports Betting & Casino Platform
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November 15, 2017, 07:15:14 AM |
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The expensive fee is one of the biggest disadvantage of bitcoin because with that expensive or high fee, it will make the other people hesitate in using it because it is too high for an average person to use especially if they are just going to use bitcoin to transaction for a minimal or average amount of money. I hope that in the future, the fees will become lower so it will not become a problem for bitcoin to continue going to the top and to become fully successful.
Agree with this one, back then with bitcoin still "cheap" people always talking about how bitcoin have many advantages compared to its competitors which among them is Paypal but right now, we can't say that bitcoin is cheaper than Paypal anymore. The price increase alongside with the miners fee making the transaction fee is just too much, if we're going to send some huge amounts of BTC, it will not going to be a problem but imagine sending 0.001 with 0.0017 fee. |
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Raven91
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November 15, 2017, 08:46:29 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Even though bitcoin has many advantages , it also has disadvantages that are causing issues in bitcoin. But i believe that this disadvantages are not big enough to destroy or disrupt the system of bitcoin. People use bitcoin to scam or trick other people and that is one disadvantage of bitcoin. But it will not happenif you take extra care and be alert always to your surroundings. So for this one i can say that bitcoin has really no big disadvantage. |
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Kiweikoo
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November 18, 2017, 05:05:08 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
I think some of the disadvantage of bitcoin is some of the user here are consider it as their work they don't find a decent job because from this bitcoin they can earn money and they can supply their own needs. But for me bitcoin is just a sideline it's better that you have a job. This is not disadvantages this is the vice versa thing that fees are totally depending on the prices and if fee will be fixed then price will also get fixed so accept the thing as it is, this is comfortable thing for us because as it is giving so much high profit we can easily afford the transaction fees so for me it is quite reasonable and many of people will agree with me and in short there is no serious disadvantage of bitcoin so far. |
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woas4
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November 18, 2017, 05:29:33 AM |
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The only disadvantages of Bitcoin right now is the number of transactions per second the blockchain can handle. We need the number to be much bigger than 3 per second if we want mass adoption by the general public. We're headed that way, but it's still a disadvantage for the time being.
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Blueblade
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November 18, 2017, 06:07:11 AM |
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Bitcoin is indirectly allocated for money laundering and is illegal. Bitcoin thieves are likely to steal. You can not get back to stealing
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xamxam
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November 18, 2017, 06:15:54 AM |
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I think some disadvantage of bitcoin is being not accepted in some countries because of some reason and because of that if youn want to share your bitcoin or send it to your family that live in the country which bitcoin is banned you can't send them.
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neowebwallet
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Activity: 17
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November 18, 2017, 06:16:20 AM |
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Like any currency, there are disadvantages associated with using Bitcoin:
Bitcoins Are Not Widely Accepted
Wallets Can Be Lost
Bitcoin Valuation Fluctuates
No Buyer Protection
Risk of Unknown Technical Flaws
Built in Deflation
No Physical Form
No Valuation Guarantee
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tanginamoo
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November 18, 2017, 06:25:25 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Bitcoin is very popular yet the security is a thing to be questioned. Is the users are secured from transactions? Maybe terrorist can use this and others can use this as a scam. Also, its price stability is very hard to predict. Sometimes there is a great rise and after great roll back. |
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bennypagulayan
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MEGATRON - THE RISE OF BLOCKCHAIN REVOLUTION
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November 18, 2017, 06:26:09 AM |
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The basic disadvantage of Bitcoin is you need to have a high technology system to use it . If you don't have it so you could forget about using it .
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tamoymie
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"SIMPLE SHOPPING AND SAFE PAY"
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November 18, 2017, 06:33:12 AM |
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disadvantage? one thing i have on my mind. its when you're on a non civilised area. bitcoin is an electronic money like. so if signal and technology is not accessible in some places. the benefits we all know about bitcoin is just a dreams only. sense people that living there might not recognize its worth! or even dont know it excise.
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Blackwhite69
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November 18, 2017, 06:39:49 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Even though bitcoin has many advantages , it also has disadvantages that are causing issues in bitcoin. But i believe that this disadvantages are not big enough to destroy or disrupt the system of bitcoin. People use bitcoin to scam or trick other people and that is one disadvantage of bitcoin. But it will not happenif you take extra care and be alert always to your surroundings. So for this one i can say that bitcoin has really no big disadvantage. Nothing is perfect in this world, any excess will have its flaws. convince it. Bitcoin has many advantages and disadvantages  |
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djgtr
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November 18, 2017, 07:07:21 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Even though bitcoin has many advantages , it also has disadvantages that are causing issues in bitcoin. But i believe that this disadvantages are not big enough to destroy or disrupt the system of bitcoin. People use bitcoin to scam or trick other people and that is one disadvantage of bitcoin. But it will not happenif you take extra care and be alert always to your surroundings. So for this one i can say that bitcoin has really no big disadvantage. Nothing is perfect in this world, any excess will have its flaws. convince it. Bitcoin has many advantages and disadvantages On my own way of investigating bitcoin i see that there is no negative feedback behind the investors line .i believe that there is no negativity detected on using bitcoin but we really need to make sure about it. That is why some people who try to invest it at first really didnt put a big capital.that was really thier own way of observing because nothings really sure in this world and we can can really see that there is no forever. |
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xiaoweidada
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November 18, 2017, 12:00:15 PM |
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Anonymity, bitcoin anonymity. Bitcoin is used by criminals. Criminals use bitcoin to buy drugs or guns. The government can not track criminals, so some countries ban Bitcoin.  |
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Jafri101
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November 18, 2017, 12:49:36 PM |
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There is only one disadvantage i guess and that is price fluctuation. I mean if i buy a coin worth 7500k and after a week it downs to 6700k so that is very much risky plus lossy. But overall, today's loss could might change into tomorrow's profit. That is bitcoin!.
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Jendral Istimewa
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November 18, 2017, 01:17:01 PM |
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disadvantage? one thing i have on my mind. its when you're on a non civilised area. bitcoin is an electronic money like. so if signal and technology is not accessible in some places. the benefits we all know about bitcoin is just a dreams only. sense people that living there might not recognize its worth! or even dont know it excise.
indeed the internet network as a bridge directly to the bitcoin forum if there is a problem with the internet network we can not berbut anything, the weakness of bitcoin that is very harmful is losing bitcoin or stolen by irresponsible party. |
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