The bad side of Bitcoin?

[Ehizzy1]

I think he is actually scared of the flunctuation because when the price rise and fall , each of the dealer could face shortage , but that could be controlled if you send the bitcoin and you quickly convert to flat currency , so that you can easily overcome the high fluctuation of bitcoin i think

 

[Shivay]

Bitcoins is a cryptocurrency and the characteristic of a good cryptocurrency is instability but the instability of bitcoins is that it can come down now and it will go up later in the day but even with it instability ,the price of bitcoins as a cryptocurrency is moving up and up,you do not expect a cryptocurrency with good potential to be stable because a stable cryptocurrency does not have a future take a look of a cryptocurrency like usdt, no one is buying it.

Yes sotherefore, You explained it really well. Like usdt only , we have seen Tron ( TRX ) and dogecoin ( DOGE ) . Do the same apply on these Cryptocurrencies too as you sa8d about USDT?

 

[Kelly5]

There is a divergence in the views of economists about this currency, the British Capital Market Authority has warned investors that they may lose all their money if they buy electronic currencies.
But the US Capital Market Authority allowed two of the traditional companies operating in securities activities, namely, CME Group and CBOE Global Market, to start completing financial contracts in the currency of "Bitcoin".
In the same context, an economic observer of Al-Marada pointed out that “despite the fame enjoyed by the virtual electronic currency bitcoin, it has not been accepted in the Arab oil-producing countries and in some countries that do not recognize it because it has negative consequences for dealers.
What is your reading of this matter ?

Bitcoin as a cryptocurrency is what any government can just stand up one day and say it's citizens should have nothing to do with Bitcoin. Bitcoin has come to stay and unfutunately this coin has a backing of a lot people.

 

[Donkiz]

Naturally not everyone will accept a new invention with open arms, but with time most of the people that are currently voicing their reservations will fall in line. Fact is that cryptocurrency has come to stay, and bitcoin as the flagship coin will keep increasing in popularity and acceptability.

 

[Sotherefore]

Yes sotherefore, You explained it really well. Like usdt only , we have seen Tron ( TRX ) and dogecoin ( DOGE ) . Do the same apply on these Cryptocurrencies too as you sa8d about USDT?

Tron is not a stable cryptocurrency I think the problem with tron is that it is a new crypto-currency that is trying as much as possible to go up we should not consider it as a stable cryptocurrency and any stable cryptocurrency in the cryptocurrency system does not have a good future to me I don't see the backside of bitcoins as being unstable because if you want bitcoins to be stable then people will not be able to invest in bitcoins and bitcoins may not even have opportunity to go up and be valuable.

 

[WhiteHouse]

Digital money has a great deal to bring to the table the cybercriminal. The blockchain has demonstrated to be the ideal incognito meeting, giving total namelessness, borderless exchange from anyplace on Earth, and the safe utilization of public and private keys. These components make endeavors at following criminal dealings― from illegal substances and weapons to counterfeit qualifications and even the administrations of agreement killers―a pointless pursuit

 

[BrolySSJ]

I think that t a large extent it does make sense to be sceptical when it comes to accepting it as a form of currency because there are major implications when it comes to the volatility of the Bitcoin price and if the price is likely to increase or decrease in the future, and so naturally I think that merchants would be worried about that. If the price had to drop this will mean that the goods were sold at a loss which can be very damaging to the company. Therefore, it is natural concerns and I think that all that accept crypto payments worry about this as well.

 

[Rimsha kanwal]

It is a fact that several people and nations still harbour some form of skepticism when it comes to bitcoin and Cryptocurrencies in general. However, just as we have such people, many are also embracing Cryptos and the technology behind it. I must say it will be a game of waiting to see what will happen in the future. I just hope they would not be seeing the overall benefits later rather than sooner.

One of Bitcoin’s biggest drawbacks is a lack of standardized policy for chargebacks or refunds, as all credit card companies and traditional online payment processors have. Users affected by transaction fraud – for instance, they purchase goods that the seller never delivers – can’t request a refund through Bitcoin. In fact, Bitcoin’s decentralized structure makes it impossible for any single party to arbitrate disputes between users. While miners take responsibility for recording transactions, they’re not qualified to assess their legitimacy.

 

[Erik4150]

Bitcoin has its advantages and disadvantages. Someone in an Arab countries cannot use bitcoin effectively unlike someone who lives in a country where bitcoin is widely accepted.

 

[Aniwhyte]

I'm sometimes very confused about bit coin and it's future, today it would appreciate massively and tomorrow another news would emerge that it is depreciating massively, with this it would be very difficult for bitcoin to become a main currency or alternate currency, it's just so unstable.

 

[Trojan8]

One of the biggest drawback of bitcoin is that it is highly volatile. This volatility does not help one especially when you want to make long term decisions. There's also the problem with it's security of owners. While this is a good thing, it can actually help criminals move large amounts of money without any trace.

 

[Kehinde]

One of Bitcoin's biggest drawbacks is a lack of standardized policy for chargebacks or refunds, as all credit card companies and traditional online payment processors have. Users affected by transaction fraud – for instance, they purchase goods that the seller never delivers – can't request a refund through Bitcoin.

 

[EMMANUEL]

The dark side of bitcoin

Peace and stability is the enemy of innovation. When everything is calm and sedate, things just tick along nicely but little changes.

If a war breaks out or a pandemic sweeps the world, then a surge of ideas and scientific breakthroughs are suddenly unleashed. Necessity, after all, is the mother of invention.

During World War II, there were huge advances in technologies such as radar, pressured cabins, guided missiles, synthetic rubber - and even helicopters. Covid-19 prompted a global sprint to develop a vaccine and, with the Oxford solution, it is estimated that ten years' vaccine work was achieved in ten months.

So how is innovation embraced and developed in safer times? The answer is often through the ingenuity and risk-taking of the criminal classes!

Throughout the ages, possibly the most effective driver for new technologies has been the demand to see naughty images or films. Pornography is thought to advanced the development of early print presses, accelerated the growth of the internet, almost solely revolutionized video and photographic technology (from polaroids to VHS) as well as 3-D and AI, and prompted the first wide-scale use of online payments.

So it was no surprise to hear that the most enthusiastic early adopters of cryptocurrencies such as bitcoin were money launderers, scammers and drug dealers.

 

[LaylaG]

The problem I have with bitcoins and other cryptocurrency is the instability in the cryptocurrency system and this really make me to abandon trading of cryptocurrency because the price of cryptocurrency is very much un predictable and I don't even have the ability to predict the volatile market, the instability in the cryptocurrency system make me to abandoned investing in cryptocurrency because I don't even have the nerve to withstand the losses that comes when I invest in cryptocurrency.

 

[Dowenship]

At the long run, it will be accepted the moment they found out is more secure than fiat currency. And the reason I think it as not been accepted is due to the fact that they are yet to have enough knowledge about crypto. Although Arab country is not a poor country.

Post automatically merged: Jan 24, 2021

At the long run, it will be accepted the moment they found out is more secure than fiat currency. And the reason I think it as not been accepted is due to the fact that they are yet to have enough knowledge about crypto. Although Arab country is not a poor country.

 

[Shivay]

Tron is not a stable cryptocurrency I think the problem with tron is that it is a new crypto-currency that is trying as much as possible to go up we should not consider it as a stable cryptocurrency and any stable cryptocurrency in the cryptocurrency system does not have a good future to me I don't see the backside of bitcoins as being unstable because if you want bitcoins to be stable then people will not be able to invest in bitcoins and bitcoins may not even have opportunity to go up and be valuable.

okay i get this about Tron and dogecoin, well that was the main reason why i never did Investment in Tron and dogecoin. But i have kept at least 100 tokens of both for future, God knows what happens to them in future .

 

[Janita]

As I am newbies so I really don't have any knowledge about the good and bad sides of Bitcoin and other currencies but I heard more about bitcoin that this is used in all over world and mostly people invest it there to gain much more profit from buying this but as I saw comments above the rate is decreased so may be it is bad time of this .

 

[Sotherefore]

okay i get this about Tron and dogecoin, well that was the main reason why i never did Investment in Tron and dogecoin. But i have kept at least 100 tokens of both for future, God knows what happens to them in future .

That is the best way and I think you are really expert in cryptocurrencies of a thing, even me i do keep a little amount of tron on my cryptocurrencies wallet because the price of cryptocurrency is not predictable, the tron and dogecoin we are looking down on may even have the possibility of becoming a very valuable cryptocurrency in the nearest future, you can keep any of those for future purpose in case it rise higher in the future.

 

[idhans]

There is a divergence in the views of economists about this currency, the British Capital Market Authority has warned investors that they may lose all their money if they buy electronic currencies.
But the US Capital Market Authority allowed two of the traditional companies operating in securities activities, namely, CME Group and CBOE Global Market, to start completing financial contracts in the currency of "Bitcoin".
In the same context, an economic observer of Al-Marada pointed out that “despite the fame enjoyed by the virtual electronic currency bitcoin, it has not been accepted in the Arab oil-producing countries and in some countries that do not recognize it because it has negative consequences for dealers.
What is your reading of this matter ?

Personally I don't really see the bad side of Bitcoin. People only lose money in Bitcoin when they are trading for a short term. People that bought bitcoin when it was $4000 are celebrating and giving testimonies right now.

 

[Oliver 20]

Perhaps the greatest disadvantage of bitcoins is an absence of normalized strategy for chargebacks or discounts, as all Visa organizations and conventional online installment processors have. Clients influenced by exchange misrepresentation – for example, they buy merchandise that the dealer never conveys – can't demand a discount through Bitcoin.