qp123asd Posted November 22, 2017 #1 Posted November 22, 2017 The advantages of bitcoin are also its disadvantages depending on the current situation of the market. Here are some of disadvantages of using bitcoin today: 1. The volatility of bitcoin is a double-edged sword, very unpredictable in its price and might result to a profit/loss on an individual; 2. Its limited supply of 21 million in the market; 3. Some counties ban the usage of bitcoin, resulting to a decrease on potential investors; 4. There are many external factors that can affect its price like the banning of ICOs in China; and 5. Its decentralized nature makes it as a perfect medium under the dark web for illegal transactions. Those are some of my opinions regarding its disadvantages but the advantages of using bitcoin in the community supersede all of those what I stated. There may be some drawbacks from transacting bitcoin but let us not forget its endless opportunities in the community.
HappyBitcoin Posted November 22, 2017 #2 Posted November 22, 2017 I think the advantages out weight the disadvantages honestly. The big one being decentralized currency that cant be manipulated by one person or group aka businesses. The government having full control just doesn't well in my stomach. While were on the topic though.. some more disadvantages Wallets can be lost-along with $10000 of dollars. Not widely accepted everywhere.. yet. and no physical form. cheers
barbaris Posted November 22, 2017 #3 Posted November 22, 2017 3 hours ago, qp123asd said: The advantages of bitcoin are also its disadvantages depending on the current situation of the market. Here are some of disadvantages of using bitcoin today: 1. The volatility of bitcoin is a double-edged sword, very unpredictable in its price and might result to a profit/loss on an individual; 2. Its limited supply of 21 million in the market; 3. Some counties ban the usage of bitcoin, resulting to a decrease on potential investors; 4. There are many external factors that can affect its price like the banning of ICOs in China; and 5. Its decentralized nature makes it as a perfect medium under the dark web for illegal transactions. Those are some of my opinions regarding its disadvantages but the advantages of using bitcoin in the community supersede all of those what I stated. There may be some drawbacks from transacting bitcoin but let us not forget its endless opportunities in the community. Still at bitkoin the high fee and long-term transactions. These are rather shortcomings.
remember Posted November 22, 2017 #4 Posted November 22, 2017 3 hours ago, qp123asd said: The advantages of bitcoin are also its disadvantages depending on the current situation of the market. Here are some of disadvantages of using bitcoin today: 1. The volatility of bitcoin is a double-edged sword, very unpredictable in its price and might result to a profit/loss on an individual; 2. Its limited supply of 21 million in the market; 3. Some counties ban the usage of bitcoin, resulting to a decrease on potential investors; 4. There are many external factors that can affect its price like the banning of ICOs in China; and 5. Its decentralized nature makes it as a perfect medium under the dark web for illegal transactions. Those are some of my opinions regarding its disadvantages but the advantages of using bitcoin in the community supersede all of those what I stated. There may be some drawbacks from transacting bitcoin but let us not forget its endless opportunities in the community. nice infor. im using eth now. cause those transaction fatter. only in 5-10 mins
Snike Posted November 22, 2017 #5 Posted November 22, 2017 High fees and the big jumps in value/the price. It goes from 8000 to 7500 in 2 mins and is very flexible!
qp123asd Posted November 23, 2017 Author #6 Posted November 23, 2017 I have invest bitcoin from about 2000usd/per bitcoin
kfstake Posted November 24, 2017 #7 Posted November 24, 2017 but it has been a good option for investors
bigmaster23 Posted December 16, 2017 #9 Posted December 16, 2017 I've turn into goraphobic(person who don't want to go outside to see him/her of ppl) I've develop multiple personality of not going outside the room but I think it worth it 'cause I'm sustainable of my living.
Upsilon Posted December 16, 2017 #10 Posted December 16, 2017 Well apart from the other mentioned stuff in the thread like price volatality I would also throw in transaction fees. The $10+ transaction fees right now is retardedly high IMO and unless you plan to do huge transactions it's not worth transacting in BTC any more and the fees will eat up any profits you may want to make
robertbint Posted April 18, 2018 #11 Posted April 18, 2018 Everything in this world has both pros as well as cons. So, with Bitcoin! Though it has an advantage that physical currencies do not provide to its users. However, it has several disadvantages as well. This is because Bitcoin is a relatively young and new currency. The first disadvantage is that it is volatile. Volatility means the price gets increased very quickly and decreases also at a very quick pace. Due to such things, it has become a hot topic in everyone's mouth. Also, these are not having a broad acceptance but are having an acceptance by a very small group of merchants or users. This makes some kind of unfeasibility.
KNOWN Posted April 18, 2018 #12 Posted April 18, 2018 Disadvantages are many, including high fees when lots of traffic and time to get mined and sent on blockchain
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