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maianh09
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January 16, 2018, 08:09:40 AM
Last edit: January 24, 2018, 04:33:57 AM by maianh09 |
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Not many users: The fact is that people, especially those who do not grow as much as Vietnam, are accustomed to using currencies, gold and silver. And they do not know much about electronic money. Along with that many well-known papers have negative posts about this currency (I will explain later), so people are very cautious and have many worries when using bitcoin.
But people in developed countries fear risks, and they will not invest in anything that is risky. In particular, cryptos have a lot of risks that frighten them, so everyone does not want to invest in them. |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Direwolve735
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January 16, 2018, 08:14:41 AM |
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Despite the fact that bitcoin is the most popular crypto currency, it also has some drawbacks. First of all, it is exchange rate fluctuations and unpredictability of the price. The rate is very much dependent on the demand of ordinary people. And if there are games only between corporations, then in the masses interest in bitcoin will be lost. I also don`t like an absence of any provision with material means (the hash does not represent any real value), which leads to the risk of instant bankruptcy or how much electricity is spent on maintaining the network, which makes mining extremely unecological.
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Mhimisan
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January 16, 2018, 08:16:20 AM |
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high fees and slow processing time of transaction
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Harper6
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January 17, 2018, 03:34:59 AM |
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Not many users: The fact is that people, especially the less developed countries like Vietnam, are accustomed to using currencies, gold and silver. They are no more on the same money. Along with many well-known articles on this currency (to be explained later), people are very cautious and have a lot of worries about using bitcoins.
There are a lot of best advantages of bitcoin first of all bitcoin price is very high secondly its transitions are also very fast bitcoin is now one of the fast growing currency in market and its now available in many part of the world and day by day its users are going to increase bitcoin is now very safe you can invest here as much as you can and it’s not only currency it’s also an asset you can also earn from it and it will change your life. |
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tickledlicker
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January 17, 2018, 06:50:35 PM |
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The downside of BTC is the transferring fees, which is reliant on the current price of Bitcoin on the market. The higher the price, the higher the fee.
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dongosquad
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January 18, 2018, 04:41:57 AM |
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high fees and slow processing time of transaction
High transaction fee is the most complained. I do not think there is any other problem. If many complain about its volality, it is the nature of bitcoin that depends heavily on demand and supply in the market. There is nothing wrong with it, if able to utilize the difference difference, then can get profit. |
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Candyeye
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January 19, 2018, 06:15:51 PM |
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Not many users: The fact is that people, especially the less developed countries like Vietnam, are accustomed to using currencies, gold and silver. They are no more on the same money. Along with many well-known articles on this currency (to be explained later), people are very cautious and have a lot of worries about using bitcoins.
There are only two disadvantages of bitcoin and these disadvantages are since from day one with bitcoin and still these disadvantages are with bitcoin so I think bitcoin must fix these problems because bitcoin is one of the favorite currency and people want to see bitcoin any time any palace first of all bitcoin have no physical shape and secondly bitcoin is only available on internet and you have use it only when you have internet. |
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CryptosapienZA
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January 19, 2018, 06:18:12 PM |
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For me the disadvantage is that it is privacy, high fees and slow transactions
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RakknRoll
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January 19, 2018, 06:44:10 PM |
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there are many disadvantages of bitcoin one of that is it can be hacked and it system may get down and we are not sure about it's price if it is still good in the market place.
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8Habits
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January 21, 2018, 06:54:02 AM |
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there are many disadvantages of bitcoin one of that is it can be hacked and it system may get down and we are not sure about it's price if it is still good in the market place.
I really don't know but so far, there is really no incentives in hacking bitcoin because everything, all of the bitcoin transactions are recorded in ledger, and if there is a serious effort in tracking it, it can be tracked. I don't also hear that bitcoin is hacked but there are many cases of hacking to sites that handle bitcoin like recently the nicehash but no case really of hacking to bitcoin core itself. |
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binhvo1505
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https://streamies.io/
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January 21, 2018, 07:33:29 AM |
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I think the disadvantage of BTC is the transaction and the search for BTC through the excavator. Nowadays digging bitcoin is very hard, your computer has to solve algorithms so long that you can earn 1 BTC.
Then the transaction of BTC. It is difficult and really worries when your money is too slow. Apart from the disadvantages mentioned above, there are no other disadvantages.
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Tiktik
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January 21, 2018, 07:38:53 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Well for me the disadvantage of bitcoin is too many critism.Many bashers are coming because they easily judge a person doing bitcoin and become rich easily.They will make story ang news that.. that person is doing illegal things.Thats not unfair. |
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AliMan
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January 21, 2018, 07:59:17 AM |
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We all know the advantages of BTC, but what are some of the disadvantages??
Well for me the disadvantage of bitcoin is too many critism.Many bashers are coming because they easily judge a person doing bitcoin and become rich easily.They will make story ang news that.. that person is doing illegal things.Thats not unfair. There is no disadvantage of having bitcoins. The only disadvantages are the people who use the name of bitcoin just to scam others or use it in illegal way. Many of them use bitcoin as a front to fool and scam people. Actually, bitcoin must be our currency now, not just because it is safe from counterfeiting, but it helps people to transact, buy and sell things with ease. |
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Dravenz
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January 21, 2018, 08:19:43 AM |
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If a hard drive crashes, or a virus corrupts data , and the wallet file is corrupted, Bitcoins have essentially been “lost”. There is nothing that can done to recover it. But if you have back up you can recover it be wisely.
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Lux Main
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January 21, 2018, 08:21:20 AM |
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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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ateebshaikh290
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January 21, 2018, 08:21:25 AM |
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Here are some main disadvantages of bitcoin listed below:
1) The biggest disadvantage of Bitcoin is that it is very volatile and price of bitcoin keeps changing very fast and sharply which is not the case with other currencies which are very stable.
2) One of the cons of Bitcoins is that lack of awareness among people and also the lack of technology in many parts of the world makes it very difficult to make bitcoin a globally accepted currency.
3) Another limitation of Bitcoins is that it is not well regulated and the fact that no central bank has approved its usage makes it very difficult for people to accept or make payment in bitcoins because no matter how beneficial a thing is if it not legal then it is very difficult to make people accept the technology or new currency
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kmrunner
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January 21, 2018, 10:33:15 AM |
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I think disadvantages includes exposure to specific scams and fraud, the susceptibility to uncontrolled price swings over period of time an no cash backs or refunds plus the people who have lost some income from it because of insufficient knowledge about it.
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Daniel355
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January 21, 2018, 10:38:39 AM |
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I think costs are getting more expensive, It needs strong networking to spread the word on bitcoin, Bitcoin is relatively new and most of its features are incomplete and There is still a long way to go before Bitcoin gets to its full potential.
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StonedWolf
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January 21, 2018, 11:04:52 AM |
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First of all, I'm talking to people who refuse to admit that bitcoin have some flaws. In fact, like whatever things existing in the world, bitcoin also has some advantages and other disadvantages, it's the same, and it does not require any philosophy. Otherwise, As an example of a point of weakness, I will mention the instability of the value. Which is easily noticeable from the part of those who follow the value's variations in weekly.
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zedicus
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CryptoTalk.Org - Get Paid for every Post!
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January 21, 2018, 11:07:26 AM |
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They say bitcoins offers fast and almost feeless transactions you will so.But today it is the disadvantage of bitcoin,blockchains fee cant adjust with the rising value of bitcoins so fees got so high in value rather than before.And traffics on blockchain now are so long that it has 200k+ unconfirmed transaction within days
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