Decentralized System Disadvantages

[imstillthebest]

We know the advantages of decentralized however what are the disadvantages of the Decentralized system that we should take note of while using this technology?

Bitcoin have advantages on decentralized system because government regulation can not touch bitcoin and government can not control the transaction data. But the disadvantages this decentralized system is government can not issue regulation on bitcoin if used as currency.

I heard that some countries are now regulating bitcoin but how did that happen ? Because im thinking the same way as you   ,  i thought decentralized means its immune to regulation ?

Anyway , when it comes to disadvantage of decentralized system i think that is the unstableness which causes the price to fluctuate too much and the anonimity which can cause for more fruads and other illegal doings  but i love it better because government arent in control which means its safe from severe manipulation and corruption  .

[1714639304]

1714639304

[Siren]

Decentralized System's biggest Disadvantage is to allow some illegal transactions to continue in the dark corner, because Decentralized System excludes regulation, and we all know that anything that is out of regulation will be used by the bad guys.

You said it right mate,the dark side of the centralized crypto community is one big factor why the disadvantage occurs without regulation this can be use in many bad aspect such as fundings the terrorist or used as payments for illeg Transactions like gun running or drug trades

[hulla]

We know the advantages of decentralized however what are the disadvantages of the Decentralized system that we should take note of while using this technology?

There are disadvantages too and it is common for any new technology and for decentralized blockchain technology what I see as disadvantages are,

1. Lack of authority to control price fluctuations - Unlike central banks for major fiat currencies to control fluctuation levels bitcoin and majority of crypto has no party to step in and balance the situation
2. Lack of acceptance from governments and other centralized organizations because many afraid to trust a system that has no leadership so even decentralized digital currencies are potential majority of governments refuse to accept them

Above are not problems for us or that we cannot eliminate with time but are major facts why a certain percentage of the world haven't still accept our community

The above option was indeed some attribute which was the disadvantages of decentralized system of crypto currencies but if you look at the bright side of it, the government hate decentralize of crypto because it the total liberation from the government and the banking sectors failure. Concern the lack of authority, the crypto community are the authority which crypto currencies have but it unfortunately that people sides.

[Accounting87]

To my mind, one of the disadvantages is that decentralized exchanges, if we take exchanges as an example, have lesser pool in comparison with centralized platforms. Furthermore, for a cryptocurrency to be presented at the exchange, it is necessary to employ a smart contract, and not all of them use it.

[Nasty23]

We know the advantages of decentralized however what are the disadvantages of the Decentralized system that we should take note of while using this technology?

There is no one can trace every transaction in decentralized system on which can be possibly used in illegal activities that is breaking the law of the government and can cause us a risk. Also, there is no specific people that we can contact if something bad for our transaction has been happen on which only the system work on it and we didn't know how long before it become working properly again.

[ETHICKNINE]

There are many advantages to consider than disadvantages and that is the main reason why blockchain technology and decentralized currency systems were introduce in the first place but with decentreliazation many systems doesn't have authorities to manage them in order to make sure they accomplish there vision and mission which was build in the first place and that is the main problem why some decentralized inventions tends to faile without achieving there targets

[Botnake]

To my mind, one of the disadvantages is that decentralized exchanges, if we take exchanges as an example, have lesser pool in comparison with centralized platforms. Furthermore, for a cryptocurrency to be presented at the exchange, it is necessary to employ a smart contract, and not all of them use it.

I'm sorry but your are out of topic, we are not talking about exchange, we are talking about the decentralize system as a whole, like the blockchain.

Decentralized System's biggest Disadvantage is to allow some illegal transactions to continue in the dark corner, because Decentralized System excludes regulation, and we all know that anything that is out of regulation will be used by the bad guys.

You said it right mate,the dark side of the centralized crypto community is one big factor why the disadvantage occurs without regulation this can be use in many bad aspect such as fundings the terrorist or used as payments for illeg Transactions like gun running or drug trades

So you are saying that fiat is not use for funding terrorists and illegal transactions, regulation does not solve it but will minimize this kind of activity from happening. I will still vote for the blockchain to remain and be successful, give that task to the government if they want to regulate, as long as it will not change the technology which is decentralize.

[squatter]

If Bitmain really wanted to get rich quick by propping up an altcoin, they probably shouldn't have forked Bitcoin -- they gave Bitcoin holders millions of free coins to dump on the market.

They are amongst the largest holders, so there isn't much for them to lose there, especially with how every exchange was basically forced to ride the hype and list BCash as soon as possible. On the runup to the Coinbase listing the price shot up to over the $3000 level, and I'm certain that everyone within the big block camp has done everything to sell the crap out of it.

If you also add that BCash is another large SHA256 chain, they could finally have their older miners running in a profitable manner again instead of having it be worthless scrap metal.

Bitmain and Roger got a free ride to the moon, although Bitmain went too deep and shot itself in the foot unnecessarily.

The way I see it, they tried to corner the market much like the Hunt Brothers did with the silver market. It sounds great on paper: Use obsolete hardware to mine Bitcoin Cash, withhold mined coins from the market and buy at spot to drive up the price.

I just think it would have worked out much better for Bitmain if there wasn't a gigantic supply of coins perpetually waiting to be dumped on them -- coins everyone got for free when the fork launched.

[deisik]

To my mind, one of the disadvantages is that decentralized exchanges, if we take exchanges as an example, have lesser pool in comparison with centralized platforms. Furthermore, for a cryptocurrency to be presented at the exchange, it is necessary to employ a smart contract, and not all of them use it.

I'm sorry but your are out of topic, we are not talking about exchange, we are talking about the decentralize system as a whole, like the blockchain

I don't think he is actually offtopic here

The sad truth is that centralized exchanges turn this whole decentralized system into a centralized system too. As you might know, most of cryptocurrency activity happens at exchanges whether you like it or not. So you can't just choose to ignore them even if you are talking about the decentralized system as a whole. It is a fact of life, a part of reality if you please, which you simply can't ignore. If you, nevertheless, do, then the conclusions you draw won't be relevant. They will be fallacious and incorrect

[johnny508]

There are some disadvantages in a decentralized system such as lack of control over the system, non one to handle the network in critical situations and some miner issues but non centralized systems can eliminate far more critical problems which has in a centralized system but we should understand that no one can understand the true potential of decentralization because before bitcoin, Ethereum or any other non centralized currency decentralized payment systems didn't exist in the world and many kept there trust on controlled organizations such as banks. investing companies and other so when we say turning centralized system into decentralized system through blockchain technology can be beneficial so even there are some miner disadvantages in a decentralized system it is valuable when considering significant benefits  

[Alpinat]

There are so many disadvantages of decentralized but almost all of us believe that there is more in advantages like no government can manipulate the value of bitcoin, everyone can buy without authorization, anonymous profile. The only disadvantage of decentralized is that there is no law above it so you can blame anyone except yourself.

[sirminesalot]

in my opinion the decentralized system  does not have business services with a centralized system, and also decentralized services are very cheap, in its use we must also be careful