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Spontebob
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September 22, 2018, 03:28:16 PM |
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1.The amount of money and power concentrated in a small group of crypto whales.
2.All the dirty tricks used by the crypto exchange platforms to scam their users and to manipulate trading volume.
3.The massive amount of ignorance outside the crypto industry.
4.All altcoins/ICOs.
I could say that the biggest weakness is the legalization issue and supportiveness of local government on bitcoin. They have the power to prevent people from using bitcoin without knowing how helpful this can be though, in my country, this is allowed and even have bitcoin ATMs in some places. |
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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code
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September 23, 2018, 05:51:46 AM |
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regulation of bitcoin will give more distribution, because thus people will no longer be afraid to invest
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maksimukr1989
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September 23, 2018, 02:13:32 PM |
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In principle, many countries are now engaged in this.They are preparing a legislative framework for the regulation of cryptocurrencies.But even without regulation, it is now possible to pay with cryptocurrencies.The weakness of bitcoin is the constant fluctuation of the exchange rate and not the adoption of this currency by many countries
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itssawai
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September 23, 2018, 02:24:39 PM |
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Yes not proper regulations is a concern for bitcoin, but it's biggest weakness is high price volatility because bitcoin's price is manipulated a lot, if it get regulated can people start using it for everyday transactions, then the price shouldn't be much volatile, also bitcoin can't handle a big number of transactions at a time, so mainstream adaption will require changes in it and more transaction speed will be needed.
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ribowo76
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September 23, 2018, 02:25:06 PM |
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For now, bitcoin and other cryptocurrency still have weaknesses, maybe because of that. Bitcoin or other cryptocurrency requires regulation. So that the weaknesses are not used as a gap for people who have evil intentions
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colvis
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September 23, 2018, 04:59:35 PM |
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Indeed not appropriate controls is a worry for bitcoin, but rather it's greatest shortcoming is high value unpredictability on the grounds that bitcoin's cost is controlled a ton, on the off chance that it get directed can individuals begin utilizing it for regular exchanges, at that point the cost shouldn't be much unstable, additionally bitcoin can't deal with a major number of exchanges at once, so standard adaption will require changes in it and more exchange speed will be required
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Ruth Ellis
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September 27, 2018, 03:08:17 PM |
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I think the weakness of Bitcoin now is regulation. Of course but it depends on policy. For me, the governments can not all aspects of their countries. Like banned drug, the crimes also continue to trade drug all around the world. However, the government will have right direction for your country in order to develop as much as they possiple. Just believe in your government.
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Kathleen Rego
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September 27, 2018, 03:11:21 PM |
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There are some weakness of Bitcoin but I want to mention most is the security. Because the government don't complete interrupt in Bitcoin so investors protect their assets themselves. I saw some phenomenons which investors were hacked bitcoin in their wallets. Have we ever had the best wallet which can avoid being stolen Bitcoin? I hope that there will be a way to improve that weakness.
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Eric Hughes
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September 27, 2018, 03:20:19 PM |
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One of the most weaknesses of Bitcoin is legal acceptance from goverments all around the world. Now, only over 60 countries where people can be free in trading Bitcoin and no taxes. But the rest of countries in the world have banned Bitcoin and even have neven heard from Bitcoin. I wish bitcoin would be known and accepted in more countries so that many people can take advntages from Bitcoin
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LieTOme
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September 27, 2018, 03:41:30 PM |
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For me the biggest weakness of bitcoin is the volatility of its value. The uncertainty and unpredictability of the fluctuations that could possibly lose our investments. If we are gonna achieve 100% adoption in the future, at that particular moment the value of bitcoin will be more stable and it will be widely used.
for me, the weakness of bitcoin is the risk that investors who invest in bitcoin anticipate with these weaknesses is a belief and patience that is quite large also proportional to the risk obtained |
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bit-freedom
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September 27, 2018, 04:15:22 PM |
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I'd say it's the wallet security.
You can easily lose a wallet or have it stolen.
The other thing would be that it's not yet accessible to the majority of people since it's not the most user friendly thing yet.
Wallet security is managed by the users and got nothing to do with Bitcoin technology. In fact, it is not that easy to hack a bitcoin wallet secret key by brute force. |
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Slow death
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September 27, 2018, 04:15:38 PM |
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Personally, I think rthe Bitcoin/Crypto market needs to be regulated for it to become mainstream or useable in everyday life situations.
I totally agree. to start governments need to regulate the exchange, to make periodic inspections in the exchange, require license and require that each exchange has a physical office. ICOs will be the biggest problem to regulate them, but it is not impossible to regulate them. With more advantageous regulations for bitcoin, banks and companies such as VISA and Mastercard could once again allow bitcoin debit cards and virtual cards. For instance buying a cup of coffee or even buying gas? What do you think? This will be possible with regulation What're the top projects you've been keeping an eye? ETH XRP EOS NEO |
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hakertajniak
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September 28, 2018, 02:16:00 AM |
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Personally, I think rthe Bitcoin/Crypto market needs to be regulated for it to become mainstream or useable in everyday life situations. For instance buying a cup of coffee or even buying gas? What do you think? What're the top projects you've been keeping an eye on and how do you think this will change the future of Crypto?
If a good regulation applied in bitcoin, i will agree if it is for the better of bitcoin in our society. But if the government create regulation to limit bitcoin function, i won't agree. The biggest bitcoin weakness for me is the block time, you cannot send bitcoin to the others instantly. |
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bitfocus
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September 28, 2018, 02:33:41 AM |
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online wallet security and lack of proper knowledge of common people - we really need to find a way to help them understand bitcoin.
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Othuke
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September 28, 2018, 03:08:18 AM |
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Negative publicity as well as regulations against its adoption is a huge problem. If Bitcoin is to achieve mainstream adoption for everyday use, there needs to be some form of lobbying and PR. If there isno deliberate publicity stunts and some form of lobbying, those who are fanning the embers of fear, and thereby discouraing its mainstream adoption, may hold sway...at least for long.
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EdenHazard
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September 28, 2018, 03:45:21 AM |
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The weakness of bitcoin I think is only in a limited amount, the impact is that if all bitcoin has been mined and makes prices higher due to scarcity, I'm not sure for people who have little money can still buy bitcoin. I believe that if the price of bitcoin is very high then there will be a minimum limit to buy the amount of bitcoin, so this will cause everyone very hard to have bitcoin and maybe they will turn to the altcoin.
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demenBTC
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PRIVATE FEDERATED BLOCKCHAIN
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September 28, 2018, 06:13:50 AM |
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Personally, I think rthe Bitcoin/Crypto market needs to be regulated for it to become mainstream or useable in everyday life situations. For instance buying a cup of coffee or even buying gas? What do you think? What're the top projects you've been keeping an eye on and how do you think this will change the future of Crypto?
The biggest disadvantage of bitcoin in companies is money laundering, here they are easy to do as the safest transactions if they do money laundering, and their second weakness can lose their wallet without anyone being responsible |
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r32godzilla
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September 28, 2018, 06:19:19 AM |
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Personally, I think rthe Bitcoin/Crypto market needs to be regulated for it to become mainstream or useable in everyday life situations. For instance buying a cup of coffee or even buying gas? What do you think? What're the top projects you've been keeping an eye on and how do you think this will change the future of Crypto?
I would say that there is no authorized central body to control any sort of scams or scam projects being carried out in bitcoin. Also, there is no one to fix a legit fee for wallet transactions or exchanges and they fix their fee as they wish.This might become a very big drawback in future when more people tend to enter the bitcoin market. |
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Ava Duvall
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September 28, 2018, 08:54:23 AM |
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The biggest weakness of bitcoin is its own instability. People tend to runaway from it when they see this happening.
I agree , but also its the risk- not knowing if you will lose everything with every step you take. |
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pinoyden
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September 28, 2018, 09:47:06 AM |
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The biggest weakness of bitcoin is its own instability. People tend to runaway from it when they see this happening.
I agree , but also its the risk- not knowing if you will lose everything with every step you take. Instability and risk is normal for bitcoin , so i think both of them is not really a weakness but rather you can use them as an advantage ot be able to make a a profit from this market . Imo i think bitcoin biggest mistake is none . yes you heard it right . for me bitcoin dont have mistakes because it is already succesful. If ever we loose , then that is not the fault of bitcoin anymore but rather it is already our own mistake . |
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