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What are the main disadvantages of Bitcoin?

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Braga13

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Bitcoin cryptocurrency has entered as a payment method in many businesses such as restaurants, real estate, and legal institutions.

Although it is a new phenomenon, it achieved more than $ 1.5 billion in transactions in 2013, and at the present time millions of bitcoins are traded daily at a value of more than $ 2 billion.
But still it has some issues prevents it devolepement .. some thoughts about this issues ?
 
It depends a lot about the laws in each country, for example in Romania I have seen several ATM`s for BTC, though not sure if they accept payments in shops.
 
One of the biggest issue is the fee required for transactions which can go up to 10$ even for a small transaction. For this issue lightning network was created which allows for instant bitcoin transaction with extremely low fees but the problem is very few people know about lightning network and therefore there is not much interest into it.
 
Hackers are the main problems of bitcoin...when they hack people's wallet..it actually makes bitcoin looks in secure
xD I love hackers, I had the nickname blind_hack3r when i was playing on steam
 
The only downsiize I see in Bitcoin is the price falling which can make different investors to lose their hard earned money in the long run
but that s what cyclical means, it grows and it falls to grow again, like the seasons on earth, in autumn most of trees drop their leaves so in the spring they reborn.
 
It depends a lot about the laws in each country, for example in Romania I have seen several ATM`s for BTC, though not sure if they accept payments in shops.
Most countries in euroupe have no prblm with it . For now only african and some asians countries prevent their people to deal with
 
Yeah! That is why I said it was a disadvantage and advantage at the same time. Without those fluctuations, gains would not be made but the risk minimize
Every good thing have its own side effect .. depending on the way you look at it...traders complain about the high fee while investors are not bothered about it ..
 
Bitcoin cryptocurrency has entered as a payment method in many businesses such as restaurants, real estate, and legal institutions.

Although it is a new phenomenon, it achieved more than $ 1.5 billion in transactions in 2013, and at the present time millions of bitcoins are traded daily at a value of more than $ 2 billion.
But still it has some issues prevents it devolepement .. some thoughts about this issues ?
One of the disadvantages of using bitcoin is the cost of its transaction fees. From the omsets , we were made to be believe that this e blockchain would eliminate high cost of transaction fees, but with bitcoin reverse has been the case.
 
Aside from Bitcoin not being accepted anywhere as a way mode of payment. It's also the issue with the high transaction fees. It will be easier to transfer the more uses it will be but right now. It's just a good investment.
 
The word disadvantage is not one that appears in my dictionary in as much as Bitcoin is concerned. In Bitcoin you don't loose your money, unless you want to lose, if the btc price falls, what do you do? Wait till the price appreciate? Or sell off?
 
Disadvantages are primarily beacause of it's advantages. There is no central authority it is completely distributed. You buy something with Bitcoin and get scammed? Well you're out of luck, no refunds, no due processes.
 
The word disadvantage is not one that appears in my dictionary in as much as Bitcoin is concerned. In Bitcoin you don't loose your money, unless you want to lose, if the btc price falls, what do you do? Wait till the price appreciate? Or sell off?
I have also been asking how people tend to lose money after investing in crypto currencies. I believe it's due to lack of patience on their own part and also fear, they sell out of panic simply because there's a drop in its price.
 
The advantages of this coin are high payment , freedom transparency of information, high security, reduced risks for traders. Among the disadvantages we highlight the risk and volatility, the lack of notification and understanding, with incomplete functions, but which are developing, so Bitcoin is not perfect.
 
If we examine, of course we will find many Bitcoin disadvantages, including: Bitcoin value is determined by the number of users, No transaction cancellations, Human errors such as wrong addresses, hardware wallets are also susceptible to being attacked by viruses or being damaged so that it will cause the loss of Bitcoin, The exchange rate of bitcoin is very volatile , the number is limited to only 21 million, terrorist and criminal funding, money laundering, there are still many countries that have not accepted Bitcoin, although in Japan Bitcoin is recognized as a means of payment but not all stores and shops accept Bitcoin.
 
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