The bad side of Bitcoin?

[Defaith]

Bitcoin has it's good side and also the bad side, the bad side of bitcoin is when it fall and also the acceptability of it in a country,not all countries accept bitcoin

 

[Olahab]

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.

 

[unhappy triad]

As with other coins, bitcoin is volatile.
The price sways. So something you bought at a higher cost can devalue and you run at a loss. Especially if you are not an experience trader.
Its always best to start off little and buy when values are low

 

[Greatguy1]

There could be a worldwide conspiracy against it. We all have to be careful therefore and watch out what's going on. There should be caution but the market does not obey with this as everyone is looking forward to a bullish Bitcoin. Markret sentiments do not support this.

Post automatically merged: Feb 2, 2021

There could be a worldwide conspiracy against it. We all have to be careful therefore and watch out what's going on. There should be caution but the market does not obey with this as everyone is looking forward to a bullish Bitcoin. Markret sentiments do not support this.

 

[Nicklas22]

Lack of market regulation, of a lack of regulations, cryptocurrencies are extremely difficult to track and that's why people often use it for dark trading, Bitcoin is very hard to track and it makes marketing difficult

Since lack of regulations occurs with Bitcoins, financial chaos will definitely takes place

 

[Olamide wealth]

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.

 

[M Amin]

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 ?

I don't think there is any security issues for between and I hope in the future many international companies will start accepting Bitcoin as a currency and nowadays many countries are working on legalization of cryptocurrency

Post automatically merged: Feb 2, 2021

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 ?

I don't think there is any security issues for between and I hope in the future many international companies will start accepting Bitcoin as a currency and nowadays many countries are working on legalization of cryptocurrency

Post automatically merged: Feb 2, 2021

Lack of market regulation, of a lack of regulations, cryptocurrencies are extremely difficult to track and that's why people often use it for dark trading, Bitcoin is very hard to track and it makes marketing difficult

Since lack of regulations occurs with Bitcoins, financial chaos will definitely takes place

yes you are absolutely right it is only the lack of regularization if Bitcoin is regularized then people will be confident about it and they can feel secure also they will start trading and also Bitcoin as payment method

 

[iori23]

there are still countries that they still do not accept cryptocurrency on their badside .. maybe in the future the cryptocurrencies will be the money that we really do not have paper or coin money .. all digital money.

 

[Abelcairo43]

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.

 

[Zunaira ramay]

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".

 

[Profuk57]

Lot and lot of countries are now open to the idea that bitcoin and other form of crypto currencies are here to stay, but of course there will still be those who oppose bitcoin and crypto currencies in general, but that does not mean bitcoin is a bad investment.

 

[Noor khan]

Yeah, you are so right. This is why several scammers and fraudulent individuals will rather pick bitcoin or any of the other cryptocurrencies as means of carrying out their transactions rather than make use of Paypal. The transactions are almost untraceable with no room for refunds or charge backs.

Yes I really like the term "electronic currency" because it sounds cute than digital currency. In another thread I have said that I believe in the Bitcoin's staying power that it is getting stronger (the last price is $35k). But I have my hesitation regarding the nature of the currency and the regulation that it has. Is there a body that is regulating the crypto currency? If they are just digital commoditythat is being traded then I don't think there is the stability in terms of legality.

 

[Kingsley]

The bad side of bitcoin will be in the area of it fluctuations which might be very challenging for newbies and making it difficult to invite others to come and join the train. Then the charges associated with it might pose another challenge.

 

[Yaqoob Habib]

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 ?

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

 

[Henrywrites]

Bitcoin value is very volatile and that's why many big companies don't want to accept it. It's dangerous for them because they could lose a lot of money in a short time. Think if a company receives bitcoin worth of 10 million dollars today, tomorrow that bitcoin could be worth only 7 millions dollars because price has gone down. Of course the price could also go up, but it is just too big of a risk for them to deal with.

That is a valid point, but if I own a company, I will accept Bitcoin. I won't stack it, but will always have a means to sell it immediately to have cash with me. There are traders always available to buy Bitcoins and it's always easier to sell. Accepting Bitcoin as a company will make many want to buy from you.

 

[Profwriter]

The bad side of bitcoin is in its instability which can be advantageous and disastrous. The value can appreciate so high without notice which is good but then in a twinkle of eye, the value can depreciate so fast and put the trader into losses.

 

[Caali]

By no means are cryptocurrencies the only asset to be hacked by thieves, but there are serious fraud and theft concerns that accompany bitcoin. For instance, novice bitcoin investors may not understand the need to store their tokens in a digital wallet, thereby leaving them susceptible to theft by hackers.

 

[adazeez1995]

Another issue is that it will take a long time for blockchain to be universally accepted. Alot of businesses and companies are still skeptical about this technology and have not yet been convinced. Also, because cryptocurrency has no regulations(which is actually a good news for its investor), if anything bad ever goes wrong sooner or later, then there would be little or nothing anyone can do especially when accounts are compromised.

 

[Tariq Shehzad]

A few people are still somewhat incredulous about Digital forms of money particularly bitcoin yet I don't think they should be, Digital currencies has come to remain and it's not going anyplace. It's the cash of things to come and individuals. Allow them to manage it.

 

[Herzhan]

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 ?

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